Shady Canyon

66 canyon creek just got reduced to 6.388M quite a plunge from the 11 M it was originally listed for. I wonder if the builder really put 4M+ into the construction though. I always thought the tax estimates for additions was on the low side.
 
[quote author="26w100k+" date=1235713583]Damn, I wonder how that feels to 'lose' (psychologically, for the seller) millions a year.</blockquote>
probably just like having a lot of money tied up in tbhe stock market...but in my view a lot of these guys are just starting to lose money, ie selling below the cost of land+constrution.
 
66 Canyon Creek is down to $532.33/sq. ft., 63 Canyon Creek is $596.58/sq. ft., and 94 Canyon Creek is $608.04/sq. ft.



<u>66 Canyon Creek Price History:</u>



Date Old Value New Value

2/27/2009 $7,495,000 $6,388,000

12/2/2008 $7,995,000 $7,495,000

11/6/2008 $8,495,000 $7,995,000

9/2/2008 $8,995,000 $8,495,000

7/17/2008 $9,995,000 $8,995,000

2/14/2008 $10,750,000 $9,995,000

1/30/2008 $11,350,000 $10,750,000

6/29/2007 $11,350,000



(Same listing agt.)



As an aside, I heard about 2 short sales coming 'soon' in Shady. It's going to get really ugly this summer ...
 
Hey Guys



New to the board. Ive lurked for awhile. I met with a well respected realtor a few days ago in Shady at one of his listings, and he proceeded to tell me about all the buyers with money that were available to purchase these homes.



We were discussing AITD and other various forms of financing to move those houses off the market.



He pretty much said you need to write at full price, have 3% deposit and put down 50% to get an offer accepted.

That the houses were already discounted enough.



Anyways Im still laughing.



no wonder those houses arent selling..
 
[quote author="GeorgeW" date=1236089014]66 Canyon Creek is down to $532.33/sq. ft., 63 Canyon Creek is $596.58/sq. ft., and 94 Canyon Creek is $608.04/sq. ft.



<u>66 Canyon Creek Price History:</u>



Date Old Value New Value

2/27/2009 $7,495,000 $6,388,000

12/2/2008 $7,995,000 $7,495,000

11/6/2008 $8,495,000 $7,995,000

9/2/2008 $8,995,000 $8,495,000

7/17/2008 $9,995,000 $8,995,000

2/14/2008 $10,750,000 $9,995,000

1/30/2008 $11,350,000 $10,750,000

6/29/2007 $11,350,000



(Same listing agt.)



As an aside, I heard about 2 short sales coming 'soon' in Shady. It's going to get really ugly this summer ...</blockquote>


and supposedly it cost about 10 million to build that puppy....
 
[quote author="working poor" date=1235792375]Sell4u, do you have the dates of the price drops/correction on that house and at what price would that home sell for in your opinion?



Also, is 4 million the new 5 million in that neighborhood?</blockquote>


3-4 million for a custom in shady is what it should be..



they would sell at those prices regardless of the price per sq foot..
 
hi guys. i am new to this. when i look at homes on redfin and forget to put a max price i see these 4 5, 8 mil homes be listed and i am like WTF. 2yrs too late and it is amazing that they even think someone is going to pay them even close to asking. especially if you just list and i the buyer know you are probably hurting and need to sell. a little homework can turn up a lot of info on the seller. its crazy and sad at the same time. but for my wife and i who have been living in a condo since 03, we are ready to pounce on some of these retards LOL i like portola (sierra) in the irvine. if shady drops a TON more which it very well may, who knows LOL
 
[quote author="sell4u" date=1235622309]So the builder(owner) of this spec home is on his 3rd broker (maybe he figures 3rd time's a charm?)



Anyways, this listing is a pretty good example of someone who chases a market down



Total days on the market = <strong>804</strong>

First Listed: 7/7/2006: $9,750,000

$8,995,000

$7,995,000

$7,850,000

$7,400,000

$6,988,000 (current list price as of 2/9)



<img src="http://socalvapictures.firstamericanmls.com/MediaDisplay/10/hr95920510-5.jpg" alt="" /></blockquote>


98 Canyon Creek? It looked a lot better before it was repainted yellow.
 
[quote author="GeorgeW" date=1236089014]66 Canyon Creek is down to $532.33/sq. ft., 63 Canyon Creek is $596.58/sq. ft., and 94 Canyon Creek is $608.04/sq. ft.



<u>66 Canyon Creek Price History:</u>



Date Old Value New Value

2/27/2009 $7,495,000 $6,388,000

12/2/2008 $7,995,000 $7,495,000

11/6/2008 $8,495,000 $7,995,000

9/2/2008 $8,995,000 $8,495,000

7/17/2008 $9,995,000 $8,995,000

2/14/2008 $10,750,000 $9,995,000

1/30/2008 $11,350,000 $10,750,000

6/29/2007 $11,350,000



(Same listing agt.)



As an aside, I heard about 2 short sales coming 'soon' in Shady. It's going to get really ugly this summer ...</blockquote>


compared to the other two, 66 is the bargain (at least per square foot) ! much more spent on construction...you can tell just from walking through the place
 
[quote author="mcbirdie" date=1236253053]Hey Guys



New to the board. Ive lurked for awhile. I met with a well respected realtor a few days ago in Shady at one of his listings, and he proceeded to tell me about all the buyers with money that were available to purchase these homes.



We were discussing AITD and other various forms of financing to move those houses off the market.



He pretty much said you need to write at full price, have 3% deposit and put down 50% to get an offer accepted.

That the houses were already discounted enough.



Anyways Im still laughing.



no wonder those houses arent selling..</blockquote>


Why are you describing the realtor as "well respected"? Are you being facetious? Or does he have a good reputation within the community? Because if what you write is true, I would describe him as a liar.
 
<span style="color: blue;">

<em>...write at full price, have 3% deposit and put down 50%...</em>

</span>



<span style="color: green;">



Sure you do. And Santa Claus only brings gifts to those who drink milk and leave cookies.





One other irritating sales strategy I have encounted, not only in Shady but in Turtle Rock,

is the attitude from many brokers that only the elite few get to bid, even at full price.



In other words, you must first be the member of some sort of secret club.



Further, secret club members don't ask embarrassing questions since everyone is

so damn rich that they would never lower themselves to asking pithy questions

like how come this property has been listed/delisted on the MLS so many times?.



Or, why has this property listed at 3x the last sales price?



Or, some of the looks you get when you ask if that new kitchen was permitted.



With a very few exceptions, they are all a bunch of self absorbed liars.





</span>
 
[quote author="awgee" date=1236290929][quote author="mcbirdie" date=1236253053]Hey Guys



New to the board. Ive lurked for awhile. I met with a well respected realtor a few days ago in Shady at one of his listings, and he proceeded to tell me about all the buyers with money that were available to purchase these homes.



We were discussing AITD and other various forms of financing to move those houses off the market.



He pretty much said you need to write at full price, have 3% deposit and put down 50% to get an offer accepted.

That the houses were already discounted enough.



Anyways Im still laughing.



no wonder those houses arent selling..</blockquote>


Why are you describing the realtor as "well respected"? Are you being facetious? Or does he have a good reputation within the community? Because if what you write is true, I would describe him as a liar.</blockquote>


well respected is facetious in a way.. but he is a big realtor with high dollar listings (in shady) from a prominent company and its not mc dingle.



I did tell him that he wrong and that there were no buyers like that and good luck at even getting a multi million dollar loan thats not hard money.
 
[quote author="awgee" date=1234411981][quote author="Zulu" date=1234402737]72 Golden Eagle is an amazing home. Beautiful views and a lot of light. A bit over the top for my taste, but drop the price about $7 million and I'm definitely a buyer! ;-)



Rumor is that 59 Canyon Creek is now in escrow. The inventory of relatively-fairly-priced new homes (qualifier there...) in Shady seem to be selling at a rate of around 2 per month (that's a guess).</blockquote>


Per Redfin, the rate of new listings in the last 30 days is 11.</blockquote>


Per Redfin, there are 8 new listings in Shady Canyon in the last 30 days.



How many have entered escrow in the last 30 days? Ipo? Sell4u?
 
[quote author="awgee" date=1236803416][quote author="awgee" date=1234411981][quote author="Zulu" date=1234402737]72 Golden Eagle is an amazing home. Beautiful views and a lot of light. A bit over the top for my taste, but drop the price about $7 million and I'm definitely a buyer! ;-)



Rumor is that 59 Canyon Creek is now in escrow. The inventory of relatively-fairly-priced new homes (qualifier there...) in Shady seem to be selling at a rate of around 2 per month (that's a guess).</blockquote>


Per Redfin, the rate of new listings in the last 30 days is 11.</blockquote>


Per Redfin, there are 8 new listings in Shady Canyon in the last 30 days.



How many have entered escrow in the last 30 days? Ipo? Sell4u?</blockquote>


The only one I see over the past 30 is 49 Vernal Spring. I have noticed that many Shady properties don't do the normal indication of escrow by going to accepting backup offers. They go straight to pending sale or just plain ole sold. I suspect probaby 2-3 have entered the sale process over the past month.
 
...another spec home (owner/builder) proudly chasing the market down

<img src="http://socalvapictures.firstamericanmls.com/MediaDisplay/76/hr96052576-8.jpg" alt="" />



66 Canyon Creek

10,566sq.ft.

32,000sq.ft. lot



List Date 6-29-2007 $11,350,000

1/30/2008 $10,750,000

2/14/2008 $9,995,000

7/17/2008 $8,995,000

9/2/2008 $8,495,000

11/6/2008 $7,995,000

12/2/2008 $7,495,000

2/27/2009 $6,388,000



Days on the market 621

Total price reductions $4,962,000
 
[quote author="sell4u" date=1236817463]...another spec home (owner/builder) proudly chasing the market down

66 Canyon Creek

10,566sq.ft.

32,000sq.ft. lot



List Date 6-29-2007 $11,350,000

1/30/2008 $10,750,000

2/14/2008 $9,995,000

7/17/2008 $8,995,000

9/2/2008 $8,495,000

11/6/2008 $7,995,000

12/2/2008 $7,495,000

2/27/2009 $6,388,000



Days on the market 621

Total price reductions $4,962,000</blockquote>




Wow, talk about mis-timing the market.

It?s listed close to break-even now.

Still no takers yet!
 
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