Nice North Tustin Home

usctrojanman29 said:
graphrix said:
tmare said:
graphrix said:
The high end in N. Tustin is really starting to crack. This home just went back to the bank for $1.445mil. Should I call Jeff Jones and let him know his listing is no longer his listing?

Oh, and yes, that was the first lien.
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Any bets on what the bank will list it for? Any info on other outstanding loans? There must be other loans or they wouldn't have let it go when they had it listed for twice that, right? Nice house.
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WAMU had the second lien, so Countrywide will be the one listing this option ARM bust in a few months. They will probably list it for $2mil to recoup most of their losses, what it will sell for is a different story. The comps don't bode well at $2mil, more like $1.5mil.
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This home looks so much better than those fugly creations over at Shady Canyon (I finally looked at the listing). This home is truly P I M P! Anyone want to go 50/50 on it if it falls to $1,000,000?
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Interestingly enough, I know the folks who are renting the home just a stones throw from this one. I've been there many times. Not that it justifies the price, but the views from the homes on this ridge are absolutely amazing. We were sitting on the balcony one day and we could not only see Catalina Island, but also the individual boats in the ocean. The sunsets are gorgeous.
 
$1,751,565.00

I came up with this number by taking what the county lowered the assessed value to in '08, which is typically 31% over present market value.
 
xoneinax said:
Is this a one-story home ? With 5500 SF that is quite expansive
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5,500 square feet isn't a house-it's a shopping center (especially if it's one story). Seriously, who needs a house this big? You basically need a full-time butler/maid/whatever to take care of the place. Not to mention the heating/cooling bill, the cost to furnish such a huge place, etc. Anything above 3,000 sq ft is complete and utter overkill, IMHO. Heck, I would say 2,000 sq ft is perfectly fine for up to a family of five (husband, wife, three kids). Provided it's a four bedroom, one story, you could make do with 1,750 sq ft, or maybe even a bit less, for a family of five-that is to say, a house less than a third of the size of this one. (You need a little more for a two story, since a staircase eats up 150 sq ft of space, maybe more.)

These houses only make sense if you really are rich and can afford the help and the bills associated with such a huge place, or if you have several generations of family living there (husband, wife, five kids, grandparents on both sides, their cousin from Phoenix who can't find a job, Kato Katlin, etc.).
 
Geotpf said:
xoneinax said:
Is this a one-story home ? With 5500 SF that is quite expansive
Click to expand...

5,500 square feet isn't a house-it's a shopping center (especially if it's one story).
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No, this is a shopping center. Take a look at this 10,000 sq ft place a few streets away.

http://www.zillow.com/homedetails/10120-Sunrise-Ln-Santa-Ana-CA-92705/25511600_zpid/

Although, upon googling the address, it turns out to be a tax-exempt cultural center - the "Vishnu Arts Center."

And this is apparently a mall. This 26,345 sq ft place. Another shot. Google tells me nothing about this place.

http://www.zillow.com/homedetails/10252-Sunrise-Ln-Santa-Ana-CA-92705/25511998_zpid/

I like the neighbor's smiley face helicopter landing pad.
 
muffdaddy said:
I like the neighbor's smiley face helicopter landing pad.
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Is that what that is? I posted that house over in the Amusing properties thread. Graph and I couldn't figure out what it was.
 
graphrix said:
tmare said:
graphrix said:
The high end in N. Tustin is really starting to crack. This home just went back to the bank for $1.445mil. Should I call Jeff Jones and let him know his listing is no longer his listing?

http://media.cdn-redfin.com/photo/46/bigphoto/710/S543710_1_0.jpg

Oh, and yes, that was the first lien.
Click to expand...

Any bets on what the bank will list it for? Any info on other outstanding loans? There must be other loans or they wouldn't have let it go when they had it listed for twice that, right? Nice house.
Click to expand...

WAMU had the second lien, so Countrywide will be the one listing this option ARM bust in a few months. They will probably list it for $2mil to recoup most of their losses, what it will sell for is a different story. The comps don't bode well at $2mil, more like $1.5mil.
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OMG! John McMonigle is listing this one for $1,799,900. I bet Countrywide/BofA thought that working with John they would get top notch service... Not so much with this description and the photos:

Expanded luxury production Hacienda style home. Panoramic views, Cataline, LA mountains. Formal living and dining rooms. 5 car garage. Fantastic home of distinction.

http://media.cdn-redfin.com/photo/46/bigphoto/652/U9003652_1_0.jpg

http://media.cdn-redfin.com/photo/46/bigphoto/652/U9003652_2_0.jpg

http://media.cdn-redfin.com/photo/46/bigphoto/652/U9003652_3_0.jpg

http://media.cdn-redfin.com/photo/46/bigphoto/652/U9003652_6_0.jpg

http://media.cdn-redfin.com/photo/46/bigphoto/652/U9003652_7_0.jpg

http://media.cdn-redfin.com/photo/46/bigphoto/652/U9003652_8_0.jpg

Cayci and I drove by this place a few weeks ago, the only reason we stopped is because Cayci saw an interesting sign on the gate. I snapped a few pics on my crackberry, and I will post them in a little bit. The place is pretty well hidden behind the walls and gates.
 
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