Losses Outside of Irvine

NEW -> Contingent Buyer Assistance Program
Price 299,900

46% loss, almost back to the price it was sold for in 2000.

Beds:

3

S519371_0.jpg


Baths:

2

Sq. Ft.:

1,270

$/Sq. Ft.:

$236

Lot Size:

5,520 Sq. Ft.

Type:

Single Family Residence

Style:

Other

Year Built:

1974

Stories:

One Level

Area:

San Juan North

County:

Orange

MLS#:

S519371

Status:

Active

On Redfin:

40 days

http://www.redfin.com/stingray/do/printable-listing?listing-id=1431187

Listing Price History

Sales History

Date

Price

Date

Price

Appreciation

Jan 26, 2008

$329,900

Nov 30, 1992

$40,000

--

Feb 07, 2008

$299,900

Apr 27, 1993

$148,500

>1,000%/yr

Sep 26, 2000

$211,500

4.9%/yr

Feb 28, 2006

$555,000

19.5%/yr
 
I found out the laguna nigel property was an auction. That was the starting price of the auction.

The auction for this property was being done very odd. They were having an open house last weekend and if you wanted to be part of the auction you had to go see the house in person and place you initial bid. (Which you submitted on a piece of paper) After 5pm on Sunday the realtor was going to find the highest bid and call all the other bidders and let them know what it was and if they wanted to bid higher. He was going to continue doing this until he got to the highest bid that no one was willing to bid over. All this is being done over the phone by the realtor.

I have never heard of an auction being done like this. Has anyone else?
 
S520457_0.jpg


29% Loss in Coto

3 Pine Valley, Coto de Caza

MLS: S520457

Listing Price: $799,000

$/Sq. Ft.: $268

Sq. Ft: 2,980

Beds: 4

Baths: 3

Sq. Ft.: 2,980

Garages: 3-car

Year Built: 1991

Lot Size: 6,000

Tract: Summerfield

Purchased: 8/2/07: $1,200,000

Loss with 6% RE Commission: $353,060 or 29%

Owned house for 200 days - Loss per day: $1,765
 
$268 per sq ft is pretty much as low are you're going to get right now to be able to live behind the gates in Coto...this is the only place in Coto asking less per sq ft.
 
Caliguy, the home you are referring to is a condo too where 3 Pine Valley is a SFR. This makes 3 Pine Valley look even better.

Also the one you are referring to (55 Via Barcaza) has HOA dues of $475 per month ($210 + $265). Yikes! I would rather put that money into my mortgage instead of the HOA. We won't even consider this neighborhood because of the high HOA. It's too bad because they have some really nice floor plans.
 
Mark McGwire’s Old House



OK - this isn't a loss outside of Irvine, but I didn't know where to put it and I didn't want to start a new thread for it.

Mark McGwire’s old house in Shady Canyon (3 Redbird, Irvine) FINALLY sold on 11/8/07 for $3,150,000. (It was purchased on 3/8/06 for $3,950,000)

This house was posted on IHB some time ago (comments were closed).

Assuming 6% commission, the seller lost $989,000 or 25% in exactly 1 year and 8 months. For $11,000 they should have just made it an even 1 million dollar loss. Although, think about the HOA, maintenance costs, closing costs, etc. I'm sure it was way over 1 million in the end.
 
Cal - Good point. The SFR would trump the condo then. And yep, not too surprised about those high HOA fees...how else do they pay all the people "guarding" the gates to keep the riff raff out of Coto?
 
Depending on the neighborhood, one can own a house in Coto and pay as little as $70 per month in HOA dues. The house I was referring to above has high HOA dues because they had a huge mold problem a few years back. Some owners sued the HOA, thus making the dues increase. We won't even look at this neighborhood.

Most Coto neighborhoods only have an HOA of $210. Well worth it IMO.

Or you don't have to pay any HOA by renting. The landlord has to pay for you
 
23902 South Barton ST Lake Forest, CA 92630

asking price $410,000

37% loss... does not seem like allot any more.

Beds:

3

S524370_0.jpg


Baths:

2

Sq. Ft.:

1,344

$/Sq. Ft.:

$305

Lot Size:

5,170 Sq. Ft.

Type:

Single Family Residence

Style:

Contemporary

Year Built:

1974

Stories:

Two Levels

Area:

Lake Forest South

County:

Orange

MLS#:

S524370

Status:

Active

On Redfin:

3 days

Sales History

Date

Price

Appreciation

Oct 14, 1999

$245,000

--

Jan 12, 2006

$660,000

17.2%/yr
 
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