Losses Outside of Irvine

NEW -> Contingent Buyer Assistance Program
Price 299,900

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

<p>







Beds:

3

<img alt="" src="http://i-0.rfimg.us/photo/46/bigphoto/371/S519371_0.jpg" />





Baths:

2





Sq. Ft.:

1,270





<strong>$/Sq. Ft.:</strong>

<strong>$236</strong>





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







</p>

<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1431187">http://www.redfin.com/stingray/do/printable-listing?listing-id=1431187</a></p>







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











<strong>Sep 26, 2000 </strong>

<strong>$211,500 </strong>



<strong>4.9%/yr</strong>











Feb 28, 2006

$555,000



19.5%/yr






 
<p>I found out the laguna nigel property was an auction. That was the starting price of the auction.</p>

<p>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.</p>

<p>I have never heard of an auction being done like this. Has anyone else?</p>
 
<p>I just noticed on zillow that someone changed the status from on sale to pending sale $649,000. I really doubt that price since it had been listed on redfin for $615,000 for a while.</p>

<p><a href="http://www.zillow.com/HomeDetails.htm?zprop=25553143">http://www.zillow.com/HomeDetails.htm?zprop=25553143</a></p>
 
<p>How's this for a big loss outside of Irivne:</p>

<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1417026">http://www.redfin.com/stingray/do/printable-listing?listing-id=1417026</a></p>

<p>Sold for $375K in October 2006, now listed at $199K. 50% loss after commissions.</p>

<p>Used to be a nice house with a big nice yard on a nice street... My family owned it from '79 until '96.</p>
 
<img style="WIDTH: 188px; HEIGHT: 150px" height="288" alt="" width="192" src="http://i-0.rfimg.us/photo/46/bigphoto/457/S520457_0.jpg" />



29% Loss in Coto



<a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1454149">3 Pine Valley, Coto de Caza</a>

MLS: S520457

<strong>Listing Price: $799,000</strong>

$/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

<strong>Purchased: 8/2/07: $1,200,000</strong>

<strong>Loss with 6% RE Commission: $353,060 or <u>29%</u></strong>



<strong>Owned house for 200 days - Loss per day: $1,765</strong>


 
$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...<a href="http://redfin.com/stingray/do/printable-listing?listing-id=1136401">this</a> is the only place in Coto asking less per sq ft.
 
<p>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.</p>

<p>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.</p>
 
<p>Mark McGwire’s Old House</p>

<p><a target="_new" href="http://www.irvinehousingblog.com/wp-content/uploads/2007/01/WindowsLiveWriter/84074ca3cd0d_6A8C/U6601263b%5B2%5D.jpg"><img style="BORDER-TOP-WIDTH: 0px; BORDER-LEFT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; WIDTH: 204px; HEIGHT: 106px; BORDER-RIGHT-WIDTH: 0px" height="160" alt="" width="240" border="0" src="http://www.irvinehousingblog.com/wp-content/uploads/2007/01/WindowsLiveWriter/84074ca3cd0d_6A8C/U6601263b_thumb.jpg" /></a></p>

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

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 <a href="http://www.irvinehousingblog.com/2007/06/08/the-villas-of-shady-canyon-mark-mcgwires-old-place/">IHB</a> some time ago (comments were closed).



Assuming 6% commission, the seller <strong>lost $989,000 or 25%</strong> in <u>exactly</u> 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?
 
<p>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.</p>

<p>Most Coto neighborhoods only have an HOA of $210. Well worth it IMO. </p>

<p>Or you don't have to pay any HOA by renting. The landlord has to pay for you </p>
 
<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1538378">23902 South Barton ST Lake Forest, CA 92630 </a>


asking price $410,000


37% loss... does not seem like allot any more.</p>







Beds:

3

<img height="312" alt="" width="416" src="http://i-0.rfimg.us/photo/46/bigphoto/370/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








 
49% off in small Santa Ana condo near South Coast Plaza...about $30k above 2002 price.


<img width="200" height="150" src="http://i-0.rfimg.us/photo/46/bigphoto/942/P625942_0.jpg" alt="" />


<a href="http://redfin.com/stingray/do/printable-listing?listing-id=1538271"><strong> 2521 West Sunflower #H14</strong></a>


<strong> Asking price:</strong> $179,900


<strong>2007 price:</strong> $356,000 (bank to the bank in January)
 
<p>38% loss in South Coast Metro from 2006 sale.</p>

<p>3109 South Diamond ST


Santa Ana, CA 92704 </p>

<p><strong>Price: $469,900 </strong></p>

<p>$/Sq. Ft.: $274</p>

<p>Beds: 4


Baths: 3


Sq. Ft.: 1,718


Lot Size: 6,000 sq. ft. </p>

<p>Sale History:</p>

Dec 18, 1989 $245,000


<strong>Mar 31, 2006 $767,000 </strong>


Jan 23, 2008 $517,500


<p>


<img alt="" src="http://i-0.rfimg.us/photo/46/bigphoto/930/P625930_0.jpg" /> </p>

<p> </p>

<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1538132">http://www.redfin.com/stingray/do/printable-listing?listing-id=1538132</a></p>
 
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