New Listing - Crescendo Plan 1 home @ Cadence Park (116 Crossover)

[akkord]

It "may" have worked, and I agree the chances may have been low and I'm not saying it would have worked, the regret is maybe we should have pursued and if it didn't work out so be it, there's a bit more to it than TI.

 

[usctrojancpa]

The seller has selected a buyer and we have opened escrow today.  I'll update the status of the listing once the deposit hits escrow.  The buyer only has a 7 day contingency period and there are 2 very strong back up buyers.

 

[usctrojancpa]

Got word from escrow earlier this morning that the transaction recorded today.  The final sales price was $3,300,000 or $500,000 above the listing price which crushed the previous Great Park sales price of $3,060,000 (Crescendo Plan 3 model).  We actually had 3 offers of $3,300,000 and 2 of them were all cash including the buyer that we selected.  Congrats to both the buyer and seller.

 

[Cares]

Would you say this sales result even surprised yourself?

 

[Ready2Downsize]

Got word from escrow earlier this morning that the transaction recorded today.  The final sales price was $3,300,000 or $500,000 above the listing price which crushed the previous Great Park sales price of $3,060,000 (Crescendo Plan 3 model).  We actually had 3 offers of $3,300,000 and 2 of them were all cash including the buyer that we selected.  Congrats to both the buyer and seller.

Congratulations! Did the pregnant lady ever show up?

 

[usctrojancpa]

Would you say this sales result even surprised yourself?

Honestly, I thought it might go over $2.8m maybe around $3m but I never thought we'd get $3.3m.  Just goes to show what can happen when there's a trophy property for sale when there's little inventory.

 

[sleepy5136]

63k in property taxes a year. WOW!

 

[usctrojancpa]

Got word from escrow earlier this morning that the transaction recorded today.  The final sales price was $3,300,000 or $500,000 above the listing price which crushed the previous Great Park sales price of $3,060,000 (Crescendo Plan 3 model).  We actually had 3 offers of $3,300,000 and 2 of them were all cash including the buyer that we selected.  Congrats to both the buyer and seller.

Congratulations! Did the pregnant lady ever show up?

Which pregnant lady?

 

[usctrojancpa]

63k in property taxes a year. WOW!

Not sure where you are getting your numbers but the property tax will be around $47k as the Mello Roos is a little over $13k.

 

[usctrojancpa]

Also, the initial high offer which was a financed offer before counters was in the low $3.2m and the seller was asking me if we should accept it.  Lazy agents would definitely have accepted that offer but we had 2 cash buyer offers in the mid-to-high $3.1m so I knew we'd get a higher price if we did a best & final counter.  So I told the seller that we should every buyer back and that's where he told me to bump the listing price to $3.3m  Both of those cash buyers came up to $3.3m and we got a last minute $3.3m offer on Thursday before the counters were due.  The initial high buyer did not increase their price on their counter.

 

[Ready2Downsize]

Got word from escrow earlier this morning that the transaction recorded today.  The final sales price was $3,300,000 or $500,000 above the listing price which crushed the previous Great Park sales price of $3,060,000 (Crescendo Plan 3 model).  We actually had 3 offers of $3,300,000 and 2 of them were all cash including the buyer that we selected.  Congrats to both the buyer and seller.

Congratulations! Did the pregnant lady ever show up?

Which pregnant lady?

Someone wanted to see it early because they would miss it if they would go into labor.

 

[usctrojancpa]

Got word from escrow earlier this morning that the transaction recorded today.  The final sales price was $3,300,000 or $500,000 above the listing price which crushed the previous Great Park sales price of $3,060,000 (Crescendo Plan 3 model).  We actually had 3 offers of $3,300,000 and 2 of them were all cash including the buyer that we selected.  Congrats to both the buyer and seller.

Congratulations! Did the pregnant lady ever show up?

Which pregnant lady?

Someone wanted to see it early because they would miss it if they would go into labor.

Oh, that buyer....I have no idea if that buyer saw the home or not. 

 

[BlackKnight]

63k in property taxes a year. WOW!

Not sure where you are getting your numbers but the property tax will be around $47k as the Mello Roos is a little over $13k.

It?s a surprised the dude didnt get more than 3.3 after raising the price.

$47k PT is nut. Thanks for providing GP fund. My bike ride there is just gonna be nicer.

 

[CalBears96]

63k in property taxes a year. WOW!

Where did you get that from. It's NOT 2% property tax including MR.

Base property tax is 1.05%. MR is about $13.5k, which could be increased by up to 2% every year.

So this coming one would be 3,300,000 * 0.0105 = $34,650 + $13,500 = $48,150.

 

[irvinebullhousing]

Wow, nice. Congrats on a well done transact.

 

[sleepy5136]

63k in property taxes a year. WOW!

Where did you get that from. It's NOT 2% property tax including MR.

Base property tax is 1.05%. MR is about $13.5k, which could be increased by up to 2% every year.

So this coming one would be 3,300,000 * 0.0105 = $34,650 + $13,500 = $48,150.

I thought GP property taxes is 1.8-1.9%?

 

[CalBears96]

63k in property taxes a year. WOW!

Where did you get that from. It's NOT 2% property tax including MR.

Base property tax is 1.05%. MR is about $13.5k, which could be increased by up to 2% every year.

So this coming one would be 3,300,000 * 0.0105 = $34,650 + $13,500 = $48,150.

I thought GP property taxes is 1.8-1.9%?

This is where you're confused about MR. MR is not a %. It's a dollar amount that could be increased by up to 2% each year.

Just like anywhere else, GP property tax is 1.05% + MR. It just came out to 1.7% for this particular house in this year's assessment. The next one, it's lower because the home price went up. It's going to be 1.46%.

 

[BlackKnight]

63k in property taxes a year. WOW!

Where did you get that from. It's NOT 2% property tax including MR.

Base property tax is 1.05%. MR is about $13.5k, which could be increased by up to 2% every year.

So this coming one would be 3,300,000 * 0.0105 = $34,650 + $13,500 = $48,150.

I thought GP property taxes is 1.8-1.9%?

This is where you're confused about MR. MR is not a %. It's a dollar amount that could be increased by up to 2% each year.

Just like anywhere else, GP property tax is 1.05% + MR. It just came out to 1.7% for this particular house in this year's assessment. The next one, it's lower because the home price went up. It's going to be 1.46%.

Sleepy Joe of LF

Only GP?s special MR that goes up 2% then after that it becomes maintenance fee after 40 years w/ possible 5% increase if i remember correctly. Other area MR dont usually go up 2% annually.

 

[Sidehussle]

The pregnancy excuse is prolly true and the client is desperate to move out of the birthing home she's staying at with the rest of the China moms, haha!

What?s funny is that I already got 2 agents asking me if they can show it today even through I made it very clear on MLS that showings start on Wednesday (very common with my coming soon listings this year). The most common reason for the agent asking to see it right away because they have a client who?s only in town today (yes, sure they are) but I got the best excuse to see my listing right from an agent today who told me that she client is pregnant and about to give birth any day.  haha

 

[usctrojancpa]

63k in property taxes a year. WOW!

Where did you get that from. It's NOT 2% property tax including MR.

Base property tax is 1.05%. MR is about $13.5k, which could be increased by up to 2% every year.

So this coming one would be 3,300,000 * 0.0105 = $34,650 + $13,500 = $48,150.

I thought GP property taxes is 1.8-1.9%?

The Mello Roos was just under $13k when the home was purchased for $1.89m.  The 1.8-1.9% property tax is for new Great Park homes when they are bought new, not what the property tax % is.  The new buyer's property tax rate is approx. 1.45%.