Listing for over 1 year.

That sounds like my parents. They had their place on the market for about 2 years. They just couldn't get it in their heads that it's not worth what it was in '06. "But it's next to a PGA golf course!", they say. "But it's the nicest in the complex!" They don't get it. They even fired their agent and got a new one, thinking it's not the price - it's the agent. Well after over two years and a few meager attempts at a price reduction, they pulled it off the market and are now stuck. You can't tell them, they know everything.
 
Why am I not surprised that all three are short sales? This also means that they have been living rent free for almost two years. I blame the bank here-foreclose already, sheesh.
 
halfnote19 said:
i just happened to post short sales.

These are not (or so I think)... and have been on the market even longer!!

3751 Hendrix St Irvine, CA 92614

Mar 04, 2006 Listed $1,595,876

On Redfin: 1140 days

145 Danbrook Irvine, CA 92603

Jun 05, 2006 Listed $804,995

On Redfin: 1047 days
Click to expand...

I wonder how many of these homeowners are relying on out of wack Zillow estimates. For example, Zillow gives a zestimate for 145 Danbrook as $625K. They are listing at $609K, ergo below market.

Based on comps on the market though, the list price should be around $525K - it probably still won't sell for that price, but at least it would be in line.
 
The price per sq ft looks right for that $1.7 million one, comparing to other sales in that zip code. But there basically have been no other sales in the high range there, apparently. Look at all the listings and the complete lack of sales in Redfin's comps.
 
usctrojanman29 said:
graphrix said:
A beautiful home in Villa Park one year ago $2.5mil... today, a dollar under $1.7mil.

http://media.cdn-redfin.com/photo/46/bigphoto/028/S526028_4.jpg

That driveway ain't that big, damn fish eye lens.
Click to expand...
Wow, that is a gorgeous house. Don't tell me that they are gonna ride the market down to the 1999 price because it is 10x times nicer than those McMasions over in QH on tiny lots.
Click to expand...

I agree. Beautiful house and back yard. I wonder if they have any foundation or landslide issues in that area.

On a side note, look at all of the pools in the Birds Eye View No wonder California has a water shortage.
 
It does look like a beautiful house, but that's sure some creative cramming to carve 4 lots out of that wedge of land.

I know someone who bought a house on a somewhat similar lot. He ended up in a legal battle with his neighbors over driveway access.

Looks like that shouldn't really be an issue here, but for 1.7 million I don't think I'd be loving that lot arrangement.
 
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