IrvineCitizen_IHB
New member
usctrojanman29 said:
I've personally asked (via PM) a couple specific property questions of USC and he's really cool about providing the information.
I try very hard not to abuse the privilege, however.
Newport Coast
- Thread starter sell4u_IHB
- Start date
NEW -> Contingent Buyer Assistance Program
I've personally asked (via PM) a couple specific property questions of USC and he's really cool about providing the information.
I try very hard not to abuse the privilege, however.
Quick question, does that mean this will likely be for sale in a few weeks for a little more or will they ask something substantially higher like 850 or 900? I guess it depends, but based on your experience, what do you see?
Someone should tell the agent it's okay to remove the "back up offers accepted" listing now.
Don't know... if its a Fannie Mae loan, maybe they are worried the government might go belly up
I haven't the slightest clue. If it helps, 22 was originally purchased on 10/27/2000 in the vicinity of $1.5m.
Ocean Heights is now more or less 30%-40% off peak pricing. (highly desirable area of Newport Coast too I might add)
I suppose all parties involved get to play basketball during court recess.
Only 37.5% off in NC.
but I thought Jimmy told us NPB was different!!!!
To maximize lots on the hillside developers moved dirt around to maximize the number of lots. By reshaping the hill 90% more lots was achieved. Many pads were filled lots and the fresh dirt were not properly settled. No developers could afford to let the lots sit there for 10 years before building on them.
To create a short cut and to override the mother nature gravity process builders laid many layers of dirt and wet every layer in between. This process took just days before laying the foundation. The settlement has just begun to take place beneath the foundations of these 10 year old homes.
Despite of the post tensioned slab which was designed to hide problem of settlement the foundation is shifting could signal a really severe sign of movement. To compound the issue plan 3 has tremendous amount of flat roofs that have begun to leak.
When buying a house on a hillside check to make sure the lot does not have a mixture of cut and fill. This is crying for uneven settlement. A lot of all fill is a likely candidate for settlement. Finally a lot with existing grade or all cut grade is the safest of the three.
Tell that to these guys.
I've personally asked (via PM) a couple specific property questions of USC and he's really cool about providing the information.
I try very hard not to abuse the privilege, however.
usctrojanman29_IHB
New member
Glad I can help, abusing the privilege would be asking for 50 properties in one PM or PMing me 10x a day with requests. hahaIrvineCitizen said:
graphrix_IHB
New member
2 Jarden was taken back by the bank today for $1.69mil. Last sold in 05 for $2.35mil., ouch that has got to hurt.
usctrojanman29_IHB
New member
The previous owners cashed in a mini-lotto ticket...to the tune of about $1.4m. Man, why didn't I have a great paying job back in 1999 with $200k+ sitting the bank???graphrix said:
graphrix_IHB
New member
26 SAN SOVINO went back to the bank today for $756,140.
Gohabsgo_IHB
New member
graphrix said:
Quick question, does that mean this will likely be for sale in a few weeks for a little more or will they ask something substantially higher like 850 or 900? I guess it depends, but based on your experience, what do you see?
Mcdonna1980_IHB
New member
graphrix said:
Someone should tell the agent it's okay to remove the "back up offers accepted" listing now.
usctrojanman29_IHB
New member
I dont know if I mentioned it, but 90% of the short listings that are marked "back-up" or "pending" are only classified that way because the listing agent has already received enough offer and the occupant doesn't want to show the property while the short sale package and offers get sent off to the bank's blackhole...errr...asset management department.Mcdonna1980 said:
cletus_IHB
New member
Mcdonna1980 said:
Don't know... if its a Fannie Mae loan, maybe they are worried the government might go belly up
sell4u_IHB
New member
An update for my fellow IHB'ers:
22 Via Diamante
Perazul Plan 1 (Ocean Heights)
Total days on the market: 302
Original list price: $3,790,000
Sale Price: $2,665,000
Rollback pricing & peak pricing, a rough sample with two homes on the same, view side of the street...
12 Via Diamante
Plan 1
Sale Price: $2,125,000
Date: 5/6/2002
14 Via Diamante
Plan 3 (about 800sq.ft. larger)
Sale Price: $4,150,000
Date: 11/20/2007
22 Via Diamante
Perazul Plan 1 (Ocean Heights)
Total days on the market: 302
Original list price: $3,790,000
Sale Price: $2,665,000
Rollback pricing & peak pricing, a rough sample with two homes on the same, view side of the street...
12 Via Diamante
Plan 1
Sale Price: $2,125,000
Date: 5/6/2002
14 Via Diamante
Plan 3 (about 800sq.ft. larger)
Sale Price: $4,150,000
Date: 11/20/2007
freedomCM_IHB
New member
wow, that is firmly in 2002 territory.
How long do you think before they go below initial new construction price?
How long do you think before they go below initial new construction price?
sell4u_IHB
New member
freedomCM said:
I haven't the slightest clue. If it helps, 22 was originally purchased on 10/27/2000 in the vicinity of $1.5m.
Ocean Heights is now more or less 30%-40% off peak pricing. (highly desirable area of Newport Coast too I might add)
graphrix_IHB
New member
While Ocean Heights is a highly desirable part of Newport Coast, the homes there are also mired in long-running construction defect dispute with the builders (Taylor Woodrow/Morrison). See the article here.
There was nothing but dirt on the spot in the Ocean Heights subdivision in Newport Coast where Michael Sarver asked Margi Quick Sarver to marry him a decade ago.
The couple paid about $1.8 million and spent about another $500,000 in upgrades for their Italian-inspired Ocean Heights home on the spot with marble floors, vaulted ceilings and several fireplaces in 2000. Bedrooms on the upper floor of the two-story home open up onto a large, stone-paved patio overlooking the Pacific Ocean.
“You could see all the way to Catalina. It seemed like the perfect spot and we thought this would be a place where we wanted to retire,” Margi Quick Sarver said. “We’re looking at having to rebuild now in our 50s.”
The couple claim that the cracked, stucco walls of their 5,400-square-foot dream-home are now full of toxic mold that gives them headaches and nosebleeds.
The Sarvers and 16 other homeowners, including prominent Newport Beach residents such as sports agent Leigh Steinberg and plastic surgeon Milind Ambe, are suing luxury home builder Taylor Woodrow Homes, now Taylor Morrison Homes, for negligence and breach of contract, among other claims.
The homeowners allege that their multimillion-dollar houses need repairs that could cost in excess of $1 million because of leaky walls and roofs that were never properly fixed. Now the homes are petri dishes for toxic mold, the Sarvers and other homeowners contend.
The lawsuit has dragged on four years, with legal costs exceeding $200,000 a homeowner in some cases. A few Ocean Heights residents have dropped out of the suit since its 2005 start because of bankruptcy or divorce, Margi Quick Sarver said. At one point, legal fees in the case mounted $10,000 a month per homeowner.
Under California law, the homeowners can’t ask to recover the cost of their legal fees in the construction defect case.
The Sarvers claim that it will cost more than $2 million to repair the water damage and get rid of the mold in their home.
The case is slated to go to trial March 30, but Orange County Superior Court Judge Gail Andler has said there is no courtroom in Orange County big enough to house all the attorneys involved.
There are 37 different law firms involved in the suit representing numerous construction contractors, insurance and building materials companies. The judge has said the trial may have to be moved to a gymnasium to house all of the attorneys and parties involved.
The homeowners now allege fraud on the part of Taylor Woodrow Homes in a new complaint filed in February in Orange County Superior Court. In the complaint, homeowners allege that Taylor Woodrow Homes knew the houses were shoddily constructed, but instructed workers to make only minor repairs, which didn’t fix the underlying problems.
“They would goop it up,” Michael Sarver said. “It would rain, they would come out and say, ‘It’s fixed.’ Then it would rain again and it would leak.”
The spacious living room of the Sarver home was covered with plastic drop cloths last week. A large tub of stagnate, yellow water sat in one corner of the room, underneath a large, stained hole in the ceiling — leftovers from the last rainstorms that hit the area a few weeks ago.
The couple have stopped using some rooms in their home entirely after an environmental specialist said toxic mold in the walls was hazardous to their health.
The Sarvers’ spacious, second-floor patio with panoramic views is warped and full of cracks.
Michael Sarver claims that he can’t use his wood-paneled home office on the ground floor of the home because mold in the walls gives him nosebleeds.
Part of the reason Ocean Heights is ahead of the curve in terms of price declines is the rampant mold and water damage throughout the community.
There was nothing but dirt on the spot in the Ocean Heights subdivision in Newport Coast where Michael Sarver asked Margi Quick Sarver to marry him a decade ago.
The couple paid about $1.8 million and spent about another $500,000 in upgrades for their Italian-inspired Ocean Heights home on the spot with marble floors, vaulted ceilings and several fireplaces in 2000. Bedrooms on the upper floor of the two-story home open up onto a large, stone-paved patio overlooking the Pacific Ocean.
“You could see all the way to Catalina. It seemed like the perfect spot and we thought this would be a place where we wanted to retire,” Margi Quick Sarver said. “We’re looking at having to rebuild now in our 50s.”
The couple claim that the cracked, stucco walls of their 5,400-square-foot dream-home are now full of toxic mold that gives them headaches and nosebleeds.
The Sarvers and 16 other homeowners, including prominent Newport Beach residents such as sports agent Leigh Steinberg and plastic surgeon Milind Ambe, are suing luxury home builder Taylor Woodrow Homes, now Taylor Morrison Homes, for negligence and breach of contract, among other claims.
The homeowners allege that their multimillion-dollar houses need repairs that could cost in excess of $1 million because of leaky walls and roofs that were never properly fixed. Now the homes are petri dishes for toxic mold, the Sarvers and other homeowners contend.
The lawsuit has dragged on four years, with legal costs exceeding $200,000 a homeowner in some cases. A few Ocean Heights residents have dropped out of the suit since its 2005 start because of bankruptcy or divorce, Margi Quick Sarver said. At one point, legal fees in the case mounted $10,000 a month per homeowner.
Under California law, the homeowners can’t ask to recover the cost of their legal fees in the construction defect case.
The Sarvers claim that it will cost more than $2 million to repair the water damage and get rid of the mold in their home.
The case is slated to go to trial March 30, but Orange County Superior Court Judge Gail Andler has said there is no courtroom in Orange County big enough to house all the attorneys involved.
There are 37 different law firms involved in the suit representing numerous construction contractors, insurance and building materials companies. The judge has said the trial may have to be moved to a gymnasium to house all of the attorneys and parties involved.
The homeowners now allege fraud on the part of Taylor Woodrow Homes in a new complaint filed in February in Orange County Superior Court. In the complaint, homeowners allege that Taylor Woodrow Homes knew the houses were shoddily constructed, but instructed workers to make only minor repairs, which didn’t fix the underlying problems.
“They would goop it up,” Michael Sarver said. “It would rain, they would come out and say, ‘It’s fixed.’ Then it would rain again and it would leak.”
The spacious living room of the Sarver home was covered with plastic drop cloths last week. A large tub of stagnate, yellow water sat in one corner of the room, underneath a large, stained hole in the ceiling — leftovers from the last rainstorms that hit the area a few weeks ago.
The couple have stopped using some rooms in their home entirely after an environmental specialist said toxic mold in the walls was hazardous to their health.
The Sarvers’ spacious, second-floor patio with panoramic views is warped and full of cracks.
Michael Sarver claims that he can’t use his wood-paneled home office on the ground floor of the home because mold in the walls gives him nosebleeds.
Part of the reason Ocean Heights is ahead of the curve in terms of price declines is the rampant mold and water damage throughout the community.
reason_IHB
New member
graphrix said:
I suppose all parties involved get to play basketball during court recess.
sell4u_IHB
New member
Just Listed
Largest floorplan in Cypress. Really nice single loaded street (only 5 homes) with a front row view orientation
1st owner (from the builder) 12/14/2006 - $3,952,909
2nd owner: $4,100,000
3rd owner (JP Morgan): $2,426,677
Current list price: $2,475,000
Largest floorplan in Cypress. Really nice single loaded street (only 5 homes) with a front row view orientation
1st owner (from the builder) 12/14/2006 - $3,952,909
2nd owner: $4,100,000
3rd owner (JP Morgan): $2,426,677
Current list price: $2,475,000
Geotpf_IHB
New member
Wow, graph-what a clusterfark. This is one reason I would not want to buy a brand new house-wait two or three years at least, so any problems of this sort can become apparent.
freedomCM_IHB
New member
sell4u said:
Only 37.5% off in NC.
but I thought Jimmy told us NPB was different!!!!
bkshopr_IHB
New member
graphrix said:
To maximize lots on the hillside developers moved dirt around to maximize the number of lots. By reshaping the hill 90% more lots was achieved. Many pads were filled lots and the fresh dirt were not properly settled. No developers could afford to let the lots sit there for 10 years before building on them.
To create a short cut and to override the mother nature gravity process builders laid many layers of dirt and wet every layer in between. This process took just days before laying the foundation. The settlement has just begun to take place beneath the foundations of these 10 year old homes.
Despite of the post tensioned slab which was designed to hide problem of settlement the foundation is shifting could signal a really severe sign of movement. To compound the issue plan 3 has tremendous amount of flat roofs that have begun to leak.
When buying a house on a hillside check to make sure the lot does not have a mixture of cut and fill. This is crying for uneven settlement. A lot of all fill is a likely candidate for settlement. Finally a lot with existing grade or all cut grade is the safest of the three.
asianinvasian_IHB
New member
awgee said:
Tell that to these guys.