[IHB] Open House Review: 7 Windsor

NEW -> Contingent Buyer Assistance Program
Checked out this home on Sunday... Really nice home and it showed well but it did seem a bit dated in the interior even with some of the upgrades done.  I do like this neighborhood though :)
 
homer_simpson said:
Checked out this home on Sunday... Really nice home and it showed well but it did seem a bit dated in the interior even with some of the upgrades done.  I do like this neighborhood though :)
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We drove by there on Sunday too but didn't go in... it's hard for me to even look at an older home that's over $800k and doesn't have a 3CWG.

We were trying to look at 15 Harrisburg but for some reason it didn't have an Open House (although Redfin showed it as such).

7 Windsor doesn't show up on Redfin Open House listings but they have big signs all over Northwood so it's easy to find.

I wish more realtors posted their OHs on the MLS so we can use Redfin to find them... I don't like the old days where you had to drive around the neighborhoods looking for open house signs. Speaking of, I was reading the Irvine World News this morning and it triggered my old memories of looking for houses in the IWN, Remax used to have the largest section in that paper where the homes were broken up by price range... you don't see that anymore.
 
I saw this home as a looky-loo when it first came on the market. As I recall, it needed a little work, and it had that stinky "pet home" feel, the kind of place that smells like dog/cat/birds/random pets and you know you'll have to replace the flooring. (I like animals, just not in my home.)  The backyard was pretty large and had a pool, but it wasn't very private.

I definitely thought it was significantly overpriced. It is a nice enough home, and buyers don't seem to be that picky when a house is priced right. I think it would move quickly if they lowered it to $789k-ish. It's funny because like the IHB review said, they have open houses every weekend. I always see the signs and think, wow, Windsor hasn't sold yet? Why don't they lower the price?
 
I don't understand the price thing too, Karen had this to say on the IHB article:
The realtor even suggested an additional $10,000 price reduction for a buyer who isn?t using their own realtor.  I felt the house seemed somewhat overpriced and, after finding a lower price per square foot on recent sales and other listings in the area, those feelings were confirmed.
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I don't think $10k is enough of a reduction... I agree with Trace, sub $800k will probably get more interest... I'm actually thinking mid $700k because there have a been a number of similarly sized Northwood homes selling for $750k or less... like this 3CWG one:
http://www.redfin.com/CA/Irvine/4-Sheridan-92620/home/4778921
 
Thermofoil said:
even better, on the same block, this one sold for 638k in May.http://www.redfin.com/CA/Irvine/30-Jackson-92620/home/4779018
short sale = fair price for buyer
4+ br homes in that older area should not sell for > $700k, yet they most often do...
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Not sure that I agree with that.  Many buyers will avoid dealing with short sales so a small pool of buyers translates to a lower price assuming all things being equal versus a standard sale.  I would say that closed standard sale closed comps are better indicator of market prices.  If the home you listed above was a standard sale, it would close for around $700k.
 
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