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Cubic Zirconia_IHB

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Hello IPO,



I just saw that 62 Night Bloom has been sold for 510k. Can you confirm that this is the right price considering that it is too low for the surroundings? If it is, 16 Night Bloom will get my lovely low ball offer that does look justified after all :)



CZ
 
[quote author="Cubic Zirconia" date=1225490713]Hello IPO,



I just saw that 62 Night Bloom has been sold for 510k. Can you confirm that this is the right price considering that it is too low for the surroundings? If it is, 16 Night Bloom will get my lovely low ball offer that does look justified after all :)



CZ</blockquote>


MLS does indeed say that 62 NB sold for $510K. Low ball away!
 
RC,



It did go back to 475k and then to 525k, got sold for 510k. But I think it was a trick to generate multiple offers way above the asking price that backfired. A lot of properties are priced low to get attention from knife catchers so that they step in and increase the price.



At 510k I think NB was a good deal being a detached condo with low HOA. If I can snag 16 NB for a similar price, I will be more than happy to move in.



CZ
 
[quote author="Cubic Zirconia" date=1225494100]RC,



It did go back to 475k and then to 525k, got sold for 510k. But I think it was a trick to generate multiple offers way above the asking price that backfired. A lot of properties are priced low to get attention from knife catchers so that they step in and increase the price.





CZ</blockquote>


I noticed this strategy too. Buyers then got too excited an overbid. Have you ever been to an auction? You know the feeling.
 
[quote author="WestparkRenter" date=1225494762][quote author="Cubic Zirconia" date=1225494100]RC,



It did go back to 475k and then to 525k, got sold for 510k. But I think it was a trick to generate multiple offers way above the asking price that backfired. A lot of properties are priced low to get attention from knife catchers so that they step in and increase the price.





CZ</blockquote>


I noticed this strategy too. Buyers then got too excited an overbid. Have you ever been to an auction? You know the feeling.</blockquote>


I haven't been to an auction yet- want to go once. If any of you went, can you share your exp?

BTW, 10 Wedgewood had a similar strategy- I don't see it in escrow yet. So may be they never got any offers.

Also, 21 Grape Arbor did the same?? *I just know it was Grape arbor- not sure if it was 21*



CZ
 
[quote author="Cubic Zirconia" date=1225494100]RC,



It did go back to 475k and then to 525k, got sold for 510k. But I think it was a trick to generate multiple offers way above the asking price that backfired. A lot of properties are priced low to get attention from knife catchers so that they step in and increase the price.



At 510k I think NB was a good deal being a detached condo with low HOA. If I can snag 16 NB for a similar price, I will be more than happy to move in.



CZ</blockquote>


CZ, how about <a href="http://www.redfin.com/CA/Irvine/95-Sapphire-92602/unit-40/home/5884942">95 Sapphire</a> the only problem with Sapphire condos are that it's attached and next to the toll road...
 
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