Lucky seller or upward trend?

[marketwatcher_IHB]

Okay, it's a falling market--but take a look at 5 Bethany, a typical 4/3 backing to a busy street (Turtle Rock Drive). According to Zillow, it recently (8/28/08) sold for $973,500--at least $100K more than it should have. And what's with the listing (also backing to Turtle Rock Drive) a few doors down, for $1.6 million? Are these folks just lucky, or are things turning around?

 

[ABC123_IHB]

Speaking of Turtle Rock Drive, does anyone have an update on this TR property that was featured on the blog? it's still listed on redfin for $800,000 and another house on the same street sold last month for $1,350,000.

I heard there was another property on that street that went into foreclosure a month ago, but I have not seen it listed. Does anyone have any information on what happened with the auction?

 

[ipoplaya_IHB]

Okay, it's a falling market--but take a look at 5 Bethany, a typical 4/3 backing to a busy street (Turtle Rock Drive). According to Zillow, it recently (8/28/08) sold for $973,500--at least $100K more than it should have. And what's with the listing (also backing to Turtle Rock Drive) a few doors down, for $1.6 million? Are these folks just lucky, or are things turning around?

I disagee. Based on its last sales price and recent pricing trends in Irvine, it should have sold for a smidge over $1M. $973K is actually a little deeper rollback than most recent sales... The Case-Shiller equivalent at $973K is a 194, which is around 6% lower than the median Case-Shiller equivalents over the past few months.

 

[PadreBrian_IHB]

Anything with "turtle" in the name add 20% to the price.