The 'Slums' of Irvine offers great deals

Burn That Belly said:
$710K and it has a full driveway!
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https://www.redfin.com/CA/Irvine/14852-Gainford-Cir-92604/home/4669960
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How did this paint job sneak past the HOA?
 
eyephone said:
In Belly we Trust  ;)
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These are great finds.  Maybe BTB should do a side gig as realtor.  People who are trying to optimize on cost cant complain they don't have time to renovate ...
 
If Irvine wasn't so hyper-planned, I'd buy the SFR's for land value only. Those homes need to scraped off like gum from your shoe then re-built with something more functional. My guess is that the HOA's would prevent this from happening.

That 5,828 SF lot on Gainford would allow maybe a 2500 SF 2 story home, leaving a full driveway and still keep the pool! Sell that for $1.xM and you'd do well.

My .02c
 
Other units show a slight pink tint. It's a cheap cell phone camera issue more than a bad decision by the HOA.

My .02c
 
But people who buy in Irvine are all about the appreciation.
Will these homes appreciate as much as new ones?
 
Burn That Belly said:
Mety said:
But people who buy in Irvine are all about the appreciation.
Will these homes appreciate as much as new ones?
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Ding ding ding.... which is exactly my point... (this is where IHO accuses me circling around). I am circling around on purpose...

You see, when the price is so cheap, people bitch whine and complain about appreciation.

When it's too expensive, they whine and complain about being overpriced.

When it's "just right", then they complain the location sucks or there's something lurking beneath the ground.  ;)
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"when the price is so cheap, people bitch whine and complain about appreciation."
- This is for those cheaper older homes you listed.

"When it's too expensive, they whine and complain about being overpriced."
- This is for EW and OH.

"When it's "just right", then they complain the location sucks or there's something lurking beneath the ground."
- This is for PS and GP.

BTB wants to bet on the 2nd option.
IHO thinks PS and GP are the right choices.
Do I understand you guys right?




 
Can someone explain this detail from the Woodbury listing: ?2nd and HOA Lien payoff estimated at $75,000.?

Sellers getting killed on this. Bought 2005 for 836k and selling for 720k?
 
Maserson said:
Can someone explain this detail from the Woodbury listing: ?2nd and HOA Lien payoff estimated at $75,000.?

Sellers getting killed on this. Bought 2005 for 836k and selling for 720k?
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Looks like a short sale.
The HOA hasn't been paid so they are asking the buyer to pay that off. Hence the listing price $720K.
 
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