Thoughts/Any bidders on 60 Cliffwood in West Irvine

[quote author="2hot2buy" date=1255735558][quote author="USCTrojanCPA" date=1255694322][quote author="2hot2buy" date=1255693578]Hello



anyone on these forums bid on this one? it went off the market in 2 days. was it that good? 1975 sqft/$709K.





2hot2buy</blockquote>
It's a nice looking property, but about $50k-$60k overpriced in my opinion. None of my buyers made an offer on it.</blockquote>


I wish my agent would talk like you. Any house we go into, our agent's 1st words are "this will go for full price or over full price and that we should bid ASAP" :)</blockquote>


Well then, change agents, easy enough.
 
[quote author="tmare" date=1255736698]

Well then, change agents, easy enough.</blockquote>
Just be prepared for clauses in the realtor agreement that has phrases like "5-pack" or "sandwich for Shady access".
 
[quote author="2hot2buy" date=1255735558][quote author="USCTrojanCPA" date=1255694322][quote author="2hot2buy" date=1255693578]Hello



anyone on these forums bid on this one? it went off the market in 2 days. was it that good? 1975 sqft/$709K.





2hot2buy</blockquote>
It's a nice looking property, but about $50k-$60k overpriced in my opinion. None of my buyers made an offer on it.</blockquote>


I wish my agent would talk like you. Any house we go into, our agent's 1st words are "this will go for full price or over full price and that we should bid ASAP" :)</blockquote>
I have no shame telling my buyers what I think the current value is based upon comps. I've made the rounds in all the Villages in Irvine putting offers on homes in all of them so I have a good idea of what comps per SF are for each Village, in general terms. Please do not listen to your realtor's scare tactics or let them pressure you in any way. It should be a "pull-push" relationship...where you pull in your realtor to make an offer on a property that you like and the realtor pushes to get you the property.
 
[quote author="irvine_home_owner" date=1255729495]I like how they advertise "This is a standard sale" to get all those buyers frustrated with shorts and REOs to bid.</blockquote>
That's a standard catch phrase to draw in more buyers who have gotten sick of dealing with short sales.
 
[quote author="CK" date=1255736341][quote author="homeowner wannabe" date=1255694079]

could it be the location? Since it does have a good location.</blockquote>


I was thinking about your comment as I drove past this house on the way to drop the kiddie off at school this morning. While it might appear this home has a good location (stone's throw from pool/tennis courts/park), I actually think this location is a drawback. Living in Ivywood, I can tell you there is a good deal of foot traffic from the neighborhood down to the community area --- everyone walks there, and not only during the day but at night with dog walking. So this home would have a lot of foot traffic in front. I'd also be willing to bet you can hear the pool area from the backyard here.



Anyway, just a couple of thoughts. Don't distress if you missed this one --- there will be others I am sure.</blockquote>


Thanks for sharing your thoughts.

Frankly I haven't thought about the foot traffic.

I just thought it was easy to get to jamboree, close to the park (I have two little kids).

I am not distressed but surely frustrated.

It just makes me wonder who these people are and what they are thinking about really. Ugh.
 
[quote author="irvine_home_owner" date=1255739641][quote author="tmare" date=1255736698]

Well then, change agents, easy enough.</blockquote>
Just be prepared for clauses in the realtor agreement that has phrases like "5-pack" or "sandwich for Shady access".</blockquote>


Ivy Wreath in QH with access to Shady Canyon.



or IR2 special care?
 
[quote author="2hot2buy" date=1255735558][quote author="USCTrojanCPA" date=1255694322][quote author="2hot2buy" date=1255693578]Hello



anyone on these forums bid on this one? it went off the market in 2 days. was it that good? 1975 sqft/$709K.





2hot2buy</blockquote>
It's a nice looking property, but about $50k-$60k overpriced in my opinion. None of my buyers made an offer on it.</blockquote>


I wish my agent would talk like you. Any house we go into, our agent's 1st words are "this will go for full price or over full price and that we should bid ASAP" :)</blockquote>
Now I'm beginning to understand what is fueling that buyer's desperation to overbid for properties...these damn realtards to pushing on the buyer's fear of a lack of inventory and possible price increases. Some buyers listen to their realtors a little too much and should have the backbone to say NO, I'm no going to bid over asking price or say let me see the comps in the area so I can determine would a fair offer would be.
 
[quote author="CK" date=1255695984]Ah, c'mon Trojan --- living just up the street from me has to be worth at least $50k...</blockquote>


Problem is... you would live down the street from Mr. 5-pack, and that brings the value down about $75k. Just wait until he has his shrimp paste party... not fun.
 
[quote author="USCTrojanCPA" date=1255742469]

Now I'm beginning to understand what is fueling that buyer's desperation to overbid for properties...these damn realtards to pushing on the buyer's fear of a lack of inventory and possible price increases. Some buyers listen to their realtors a little too much and should have the backbone to say NO, I'm no going to bid over asking price or say let me see the comps in the area so I can determine would a fair offer would be.</blockquote>
Well... considering the bubble gravy train has left... it's no wonder. The ones that are still around are trying to do whatever it takes to get that commission... truth be darned!
 
Truth: in the last 3 months, the majority of West Irvine SFRs have gone over asking price, quickly, with a couple of notable exceptions. edit to add: red ink in sales price = above listing price closing



<img src="http://irvinerealtorsite.com/images/WestIrvine.JPG" alt="" />
 
[quote author="IrvineRealtor" date=1255743760]Truth: in the last 3 months, the majority of West Irvine SFRs have gone over asking price, quickly, with a couple of notable exceptions. edit to add: red ink in sales price = above listing price closing



<img src="http://irvinerealtorsite.com/images/WestIrvine.JPG" alt="" /></blockquote>


But the problem is that the asking price for 60 cliffwood was already very high.

It is 1975 sqft and asking price was $709k. Whopping $359/sqft.

And still there is an offer with higher price. Just unbelievable.
 
[quote author="IrvineRealtor" date=1255743760]Truth: in the last 3 months, the majority of West Irvine SFRs have gone over asking price, quickly, with a couple of notable exceptions. edit to add: red ink in sales price = above listing price closing



<img src="http://irvinerealtorsite.com/images/WestIrvine.JPG" alt="" /></blockquote>
And I'm sure our realtard comrades are using that kind of information to scare their buyers into over bidding on properties like 60 Cliffwood instead of keeping the focus on the price per SF of comparable properties. As someone on the forums had mentioned, the same information can be manipulated to achieve to different results (just depends on what the focus is on).
 
[quote author="homeowner wannabe" date=1255753508][quote author="IrvineRealtor" date=1255743760]Truth: in the last 3 months, the majority of West Irvine SFRs have gone over asking price, quickly, with a couple of notable exceptions. edit to add: red ink in sales price = above listing price closing



<img src="http://irvinerealtorsite.com/images/WestIrvine.JPG" alt="" /></blockquote>


But the problem is that the asking price for 60 cliffwood was already very high.

It is 1975 sqft and asking price was $709k. Whopping $359/sqft.

And still there is an offer with higher price. Just unbelievable.</blockquote>
Nicely put...the highest comp (price/sf) in the area was $345/sf and I considered that to an outlier. Someone willing to bid over $360/sf on this home is not the smartest thing to do, in my opinion.
 
[quote author="USCTrojanCPA" date=1255754548]

Nicely put...the highest comp (price/sf) in the area was $345/sf and I considered that to an outlier. Someone willing to bid over $360/sf on this home is not the smartest thing to do, in my opinion.</blockquote>


It's that CK effect --- where in this case CK = 'Catching Knife'.
 
[quote author="CK" date=1255755987][quote author="USCTrojanCPA" date=1255754548]

Nicely put...the highest comp (price/sf) in the area was $345/sf and I considered that to an outlier. Someone willing to bid over $360/sf on this home is not the smartest thing to do, in my opinion.</blockquote>


It's that CK effect --- where in this case CK = 'Catching Knife'.</blockquote>
haha
 
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