New Houses take a dive: Costa Mesa

freedomCM_IHB

freedomCM_IHB

New member
<strong>This development has been sitting empty for a year, and the builder is getting desperate:</strong>



of course, they've put up a new listing ever few months, but here is the listing history:

price/date: 830 2.10.8 800 4.10.8 790 6.30.8 775 8.7.8 700 12.11.8





<img src="http://i-0.rfimg.us/photo/46/bigphoto/936/S556936_0.jpg" alt="" />



http://www.redfin.com/CA/Costa-Mesa/2432-Newport-Blvd-92627/home/12256962



<blockquote><strong>OWNER WILL CARRY PART OF DOWN PAYMENT AND GUARANTY PRICE IF YOU SELL AFTER TWO YEARS.</strong> New SFR with quality that is above anything in this price range. this is the model and seller may sell all the furnishings if desired. The entire first floor is distressed maple engineered wood flooring. The KITCHEN has maple cabinets with granite counter tops, under and over cabinet lighting, roll out trays in the pantry, stainless steel KitchenAid appliances. The range is a dual fuel with convection and warming drawer. The BATHS have marble counter tops, frameless shower enclosures, travertine flooring and walls. Attached 2 car garage plus 2 car parking in driveway. Other features include 9' ceilings, 8' solid core doors, whirlpool tub, Central vacuum, Security system fire sprinklers and fenced private back yard.</blockquote>
 
Next:



http://www.redfin.com/CA/Costa-Mesa/2444-Newport-Blvd-92627/home/12256585



<img src="http://i-0.rfimg.us/photo/46/bigphoto/939/S556939_0.jpg" alt="" />



history: 725 8.7.8 660 12.11.8



<blockquote>OWNER WILL CARRY PART OF DOWN PAYMENT AND GUARANTY PRICE IF YOU SELL AFTER TWO YEARS. New SFR with quality that is above anything in this price range. The entire first floor is distressed maple engineered wood flooring. The KITCHEN has maple cabinets with granite counter tops, under and over cabinet lighting, roll out trays in the pantry, stainless steel KitchenAid appliances. The range is a dual fuel with convection and warming drawer. The BATHS have marble counter tops, frameless shower enclosures, travertine flooring and walls. Attached 2 car garage plus 2 car parking in driveway. Other features include 9' ceilings, 8' solid core doors, whirlpool tub, Central vacuum, Security system fire sprinklers and fenced private back yard.</blockquote>
 
Are these homes the Waterpointe homes that I keep seeing commercials for on cable TV? How good is their price guaranty if they won't be around in 2 years?
 
He has also listed two of the others in this PUD that are currently 'off market':





2438 Newport 790 6.30.8 775 8.7.8



and another I can't find right now.
 
[quote author="freedomCM" date=1229161614]<strong>This development has been sitting empty for a year, and the builder is getting desperate:</strong>



of course, they've put up a new listing ever few months, but here is the listing history:

price/date: 830 2.10.8 800 4.10.8 790 6.30.8 775 8.7.8 700 12.11.8





<img src="http://i-0.rfimg.us/photo/46/bigphoto/936/S556936_0.jpg" alt="" />



http://www.redfin.com/CA/Costa-Mesa/2432-Newport-Blvd-92627/home/12256962



<blockquote><strong>OWNER WILL CARRY PART OF DOWN PAYMENT AND GUARANTY PRICE IF YOU SELL AFTER TWO YEARS.</strong> New SFR with quality that is above anything in this price range. this is the model and seller may sell all the furnishings if desired. The entire first floor is distressed maple engineered wood flooring. The KITCHEN has maple cabinets with granite counter tops, under and over cabinet lighting, roll out trays in the pantry, stainless steel KitchenAid appliances. The range is a dual fuel with convection and warming drawer. The BATHS have marble counter tops, frameless shower enclosures, travertine flooring and walls. Attached 2 car garage plus 2 car parking in driveway. Other features include 9' ceilings, 8' solid core doors, whirlpool tub, Central vacuum, Security system fire sprinklers and fenced private back yard.</blockquote></blockquote>


I'm confused because I'm not used to new houses I guess. Is this the backyard (then of course, there wouldn't be one). Or is this the front of the house and the front door is somewhere else? If the front door is along the side, who in their right mind would want to open their front door that faces a wall only about 2 feet away. Is this normal?
 
[quote author="Astute Observer" date=1229183686]tmare:

The main entry is on the left of the pic, and you can see the path to the "front" of the house next to the alarm company sign. The door should be right where the blue flag is. It is a desirable feature since you won't have issue with hot sun baking on your front door, and definitely less noise even if you have the front door wide open. A cheap, low grade front door made of high quality cardboard will last for decades due to the protection from elements.</blockquote>


Thanks for the explanation but it seems to me that in this case people trade any opportunity to get to know their neighbors so that they can have a cheap door that lasts. My front door is 68 years old and only needs a little "tune up" every few years. Sorry for the stupid question but I really haven't even been to many new houses.
 
[quote author="No_Such_Reality" date=1229166755]Holy ____ Batman, they put houses there?</blockquote>


This is truly another example of the Bizarro World that is 2006 Bubble Greed Housing.



This location is extremely bizarre. I have seen this place firsthand several times, and from what I remember, it's 4-6 units crammed into a very tiny lot in a mixed zone area, and it's really hard to describe the way the development is setup, you just have to see it for yourself. This is another one of those "wow, I'll build wherever I can!" places someone thought they could get rich quick off of. Typically you will only see these kinds of developments in the City of Los Angeles, where stuff is on top of other stuff without much thought, so it's surprising to see it down on Newport Blvd.



If you could view the whole thing from the "front," it would appear all the houses are sharing the same driveway, that's how cramped it is.
 
<strong>Well, the builder makes a better landlord than seller (how long will he be a landlord?).</strong>



At least his description for the first house (above, 2432) is better.



<strong>Rent X 160 = $500k, Fool!!! (cue Mr.T), not the $700k you are/were asking</strong>





http://orangecounty.craigslist.org/apa/967433271.html

<blockquote>$3000 / 5br - NEW 4/5 BR HIGHLY UPGRADED SINGLE FAMILY HOME (East Side Costa Mesa) (map)



Reply to: tueg@sbcglobal.net [?]

Date: 2008-12-22, 2:19PM PST





PACIFIC NEWPORT ~ Contact Darwin Pearson 949-232-3928

4 Bedroom plus Den or additional bedroom

One month security plus first months rent prior to move-in. Credith Check Mandatory.

$3000 for 2 year lease, or $3200 for 1 year lease.



~STYLE & SUBSTANCE~

Long lasting, fire-resistant concrete roof tiles

Two car direct-access garages

Sectional roll-up, insulated, garage doors

with decorator windows

and automatic door openers

Custom paver driveways

Cast iron vertical waste piping

between floors for sound

All interior walls and floors insulated for sound

Fire-sprinklers throughout for safety

Wood framed windows on first floor

Bull-nose corners throughout

Illuminated address signs for safety

PVC privacy fencing

Common area landscaping



~ELEGANT INTERIORS~



Hard surface flooring throughout first floor

Central heating and air conditioning

Central vacuum system

Security system with 2nd keypad in master suite

9 Foot high ceilings

8 Foot high solid core doors throughout

Dutch Door Entry( oversized 8 ft. by 42 in.)

Marble slab bathroom countertops

Natural stone tub and shower surrounds in all bathrooms

Maple cabinets throughout

Kohler plumbing fixtures

8 ft. high mirrored wardrobe doors

Pre-wired for television in family room and bedrooms

Non wood-burning environmentally friendly

fireplace, with gas logs in family room

Upstairs laundry room for convenience

Maple handrails, some with painted balusters

some with wrought iron balusters



~GOURMET KITCHENS~



Deluxe energy-efficient stainless steel

?Kitchen Aid? Appliances including:

30? Dual Fuel Convection Range with Warming Drawer

Space Saver Microwave

Whisper Quiet T-Series Dishwasher

25 cubic ft Refrigerator w/ Water and Ice in door

Up to 5yr warranty on appliances

Maple cabinets

Granite slab counter-tops and back-splash

Built in pantry

Built in wine rack

Designer pendant lights



~SPACIOUS MASTER SUITES~

Crown moldings

Marble slab countertops and back-splashes

Double designer Kohler sinks and faucets

Full height 8 ft mirrors

Natural stone tub and shower surrounds

Whirlpool bathtubs

Spacious walk in closet with window



~ENERGY SAVERS~



Built to Energy Efficient Standards

Energy efficient dual pane, low E glass

vinyl windows

Water-saver shower heads

Water-saver toilets

Energy efficient appliances

Energy efficient exterior lighting







2434 Newport Blvd. at Santa Isabel Ave. google map yahoo map

cats are OK - purrr

dogs are OK - wooof

Location: East Side Costa Mesa

it's NOT ok to contact this poster with services or other commercial interests

PostingID: 967433271</blockquote>


<img src="http://images.craigslist.org/1241431393n83m03pd8cm0a3ef7db016b1682.jpg" alt="" />

<img src="http://images.craigslist.org/1101fd13c3kc3o23p48cm037ee831a4101e9d.jpg" alt="" />
 
[quote author="freedomCM" date=1230194344]they don't tell you that your neighbors up and down the street rent by the hour.</blockquote>


That area is nasty! Low-lifes abound! THe area is so bad, it makes Ali Baba look like the Beverly Hilton!
 
[quote author="freedomCM" date=1230194344]they don't tell you that your neighbors up and down the street rent by the hour.</blockquote>


I think there is a liquor/gas station/convenience store a couple of blocks down from that development. I could be wrong but I'm pretty sure there's one there, it's been a few months since I drove past there.
 
There's a Discount Tire Shop a couple of lots down, and a low rent apartment hallway next door that looks down directly at the development...nice...
 
Heh, let the bleeding continue...



2432 Newport, started at $830k, now offered at $600k

2438 $790k, ......................$600k

2444..............................$725k,........................$550k





How low will they go? pretty nice, brand new 2500sf. craptastic location.



Anyone have a guess? Bueller?
 
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