(link free) Irvine Fantasy Real Estate Budget Style

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valueoc

valueoc

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Okay, so I'm continuing a 4x4 Irvine fantasy real estate session as is my casual obsession, this time based on budget ($1.1 mil) and sans any external links. I'm providing just the basic information on these four listings, and will leave it up to the participants as to their favorite method for accessing any further information in order to make their decision. With a budget of $1.1 million, which home would you chose and why?

41 Statehouse in West Irvine 92602 for $1,049,000 a 5br, 3.5 bath 3,340 sq foot home with a 6,100 sq foot lot built in 1998.

4 Urbino in Northwood 92620 for $974,900 a 4br, 2.5 bath 2,618 with a 5,663 sq foot lot built in 1979.

15342 Normandie Ave in El Camino Real 92604 for $975,000 a 4br, 3 bath 2,344 sq foot home with a 6,098 square foot lot built in 1971.

15441 Alsace Circle for $670,000 also in El Camino Real 92604 a 4br, 2 bath 2,071 sq foot home with a 6,098 square foot lot built in 1970. Note: this is a short sale/NOD
 
Just like American cars the end of 60's and 1970's the homes often were poorly designed and built. These homes commanding almost a $1m price tag for Irvine High district are definitely WTF pricing. Likewise no one would ever pay BMW prices for the Afro era Chevy. The remaining one is just a value box from a builder who built starter homes and acquired by KB some decades ago. All 4 homes are bad choices and can I have a none of the above check box?
 
I don't mind links so we can see the pictures.

I like the information upfront... then you can put a link (maybe Redfin?).

Hmm... all 3CWGs... nice... all have 4 in their address... not so nice.

I've seen 4 Urbino in Windstream.

West Irvine is too TUSD for me (just kidding... that would probably be my 2nd pick except for the fact it backs Jamboree).

The short sale El Camino Real looks beat up and the other one is too expensive for ECR esp compared to the short.

I would probably go the short ECR if it sells for less than $700k and just fix it up with an extra $100k.

Tough one.
 
I had IHO in mind (obviously) when I selected these. :) I enjoy the passionate devotion to three car garages. Going forward, perhaps I'll post a picture of the property, and send links upon request (message me, I prefer avoiding the perception of being overly-marketing-ish). I will admit bias toward my site for property links because I get information straight from the MLS feed and I like the way it looks as it appears on my site versus others.

I personally prefer the Northwood property at 4 Urbino as well, although the 15342 Normandie in El Camino Real has an appeal to me too (I have a thing for pool homes, or lots large enough for a pool and dense home garden, almost as much as Unicorn Hunter's passion for 3 car garages). I agree 15342 Normandie is not priced correctly (WTF is an appropriate expression), but part of the "Fantasy" aspect of the exercise is that you are spending hypothetical money (think "helicopter real estate") that will only be yours if it is used for the purchase of one of the homes. While "none of the above" is always an option (one of my favorite political choices), perhaps consider how one home could work out as a 'free' investment for resale purposes (if any).
 
On paper, I would vote for 4 Urbino too.  But it has been on and off the market for many months and I wonder if there is some subjective issue with the property that the listing doesn't show?  (other than the dreaded "4" address?)
 
furioussugar said:
On paper, I would vote for 4 Urbino too.  But it has been on and off the market for many months and I wonder if there is some subjective issue with the property that the listing doesn't show?  (other than the dreaded "4" address?)
Click to expand...
The kitchen has a table counter, no downstairs bed for in-laws/guests and lots of 70s/80s decor. The Windstream homes are nice and the 'hood is very quiet but it's dated and many of these homes don't sell quickly unless priced at a steep discount.

These were lower than $800k about two years ago, so there is some resistance to paying almost $1mil for them.
 
[/quote]These were lower than $800k about two years ago, so there is some resistance to paying almost $1mil for them.
[/quote]

I agree with this; I think the pricing is too high for what you get, but the discussion becomes interesting like this when we're using "monopoly money" so to speak.
 
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