My Comp Killer finally closed. Yay?

NEW -> Contingent Buyer Assistance Program
25w100k+_IHB

25w100k+_IHB

New member
Ok, so IPO's site shows 22 Daffodil finally (after what, 2+ months) closed at $366,000. Thats $272 a sq.ft for newer Oak Creek construction. This is good right? Will prices drop because of it, or will it just allow me to negotiate lower for similar properties? Or because of it being a short sale, does it not really help at all?
 
<a href="http://www.ipoplaya.com">ipo's site</a> tracks some Irvine Escrows.



<a href="http://www.trulia.com/property/1059171748-22-Daffodil-Irvine-CA"> 22 Daffodil here. </a>
 
WOW that tract really bombed. Down 200 grand or nearly 40% in just two years? I would send this to IR.



If those places drop into the high 2s like they were in 2001 I would pick one up.
 
I think it'll help, the banks aren't looking through rose tinted appraisals. Even if it's a short sale, it's a recent sale, which the banks will use as a basis to determine loan value. Banks will pressure prices unless buyers are willing to lay down more cash. Even at 366, it's just barely getting somewhat affordable.
 
I like the fact it is pricing at $267 sq/ft ... too many of the other Condos/Townhomes/SFRs are asking for an avg of $350+



Another 15% drop and we should have a more reasonable SUB-$300 pricing per sq ft.
 
[quote author="optimusprime" date=1217378126]You could probably rent out this unit for $1800</blockquote>
When IAC rents out smaller 2bd/2ba units for over $2000? haha
 
[quote author="usctrojanman29" date=1217379129][quote author="optimusprime" date=1217378126]You could probably rent out this unit for $1800</blockquote>
When IAC rents out smaller 2bd/2ba units for over $2000? haha</blockquote>


My bad. I was calculating a mortgage of $300k @ 6.25% ...thus the $1800.



You should be able to rent it out for $2200-2400 to cover your monthly cost of mortgage, hoa, and taxes.
 
Yeah, I think it would be a good deal. I would have bought if I could have. As Freedom said though...I'm not sure how I feel about living over someone else's garage....
 
[quote author="25w100k+" date=1217381273]Yeah, I think it would be a good deal. I would have bought if I could have. As Freedom said though...I'm not sure how I feel about living over someone else's garage....</blockquote>


What are you talking about?

This place is a definite upgrade for you.

Besides, your mom and dad are tired of carrying you.

Time to finally get a place of your own.
 
[quote author="tenmagnet" date=1217381788][quote author="25w100k+" date=1217381273]Yeah, I think it would be a good deal. I would have bought if I could have. As Freedom said though...I'm not sure how I feel about living over someone else's garage....</blockquote>


What are you talking about?

This place is a definite upgrade for you.

Besides, your mom and dad are tired of carrying you.

Time to finally get a place of your own.</blockquote>


Upgrade in some ways, not so much in others. I rent in oak creek now. So it would be an upgrade in the sense that I own the place, instead of renting. And no, I'm not with the folks. They're all the way over in Northpark. Close to your new pad in west irvine. ;-)
 
[quote author="25w100k+" date=1217382568]



Upgrade in some ways, not so much in others. I rent in oak creek now. So it would be an upgrade in the sense that I own the place, instead of renting. And no, I'm not with the folks. They're all the way over in Northpark. Close to your new pad in west irvine. ;-)</blockquote>


Very Funny!



*ahem* I already know they?re in Northpark.

I?ll be making my move as soon as the dust settles on 9 Paso Robles.

Yeah, you know the one?

Soon your parents will welcome me to the top neighborhood in Northpark while simultaneously disowning and dismissing you for being a failure (Smiley!)
 
[quote author="tenmagnet" date=1217390371][quote author="25w100k+" date=1217382568]



Upgrade in some ways, not so much in others. I rent in oak creek now. So it would be an upgrade in the sense that I own the place, instead of renting. And no, I'm not with the folks. They're all the way over in Northpark. Close to your new pad in west irvine. ;-)</blockquote>


Very Funny!



*ahem* I already know they?re in Northpark.

I?ll be making my move as soon as the dust settles on 9 Paso Robles.

Yeah, you know the one?

Soon your parents will welcome me to the top neighborhood in Northpark while simultaneously disowning and dismissing you for being a failure (Smiley!)</blockquote>


We left the keys and garage door openers in the top drawer in the kitchen Ten... Please get your walk-through done so we can close on time. Remember, you have to pay me $150 per day for late closing!
 
[quote author="ipoplaya" date=1217391259]



We left the keys and garage door openers in the top drawer in the kitchen Ten... Please get your walk-through done so we can close on time. Remember, you have to pay me $150 per day for late closing!</blockquote>




$150/day isn?t a problem.

Please make sure IR2 leaves the bottle of Belvedere on the counter.

I?m going to need it to chase down the couple of Vicodin I plan on taking before the walk thru.
 
[quote author="tenmagnet" date=1217391992]$150/day isn?t a problem.

Please make sure IR2 leaves the bottle of Belvedere on the counter.

I?m going to need it to chase down the couple of Vicodin I plan on taking before the walk thru.</blockquote>


We saved half of <em>Le Goose de Deuce</em> for you, ten. Na Zdorovje!



<img src="http://irvinerealtorsite.com/toolate.JPG" alt="" />
 
[quote author="IrvineRealtor" date=1217393962]

We saved half of <em>Le Goose de Deuce</em> for you, ten. Na Zdorovje!

</blockquote>


Looks good IR2, nice start.

At least, now were getting somewhere.

If you and Ipop expect a fast close, I?ll need something more along these lines





<span style="font-size: 13px;"><img src="http://thumb13.webshots.net/t/16/16/9/41/29/245894129zklMbE_th.jpg" alt="" /></span>
 
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