Unrealistic Sellers Flood the OC Home Market

Good to see you posting up Blue.  The unrealistic sellers aren't just flooding the high end of the market, they are flooding the middle part of the market ($500k to $900k).  The worst part, it's just not Irvine...it's Laguna Niguel, Aliso Viejo, Anaheim Hills, Fullerton, and Yorba Linda to name a few.  Sales have slowed down in most all cities in OC besides Irvine since the end of April so it'll be interesting to see how high the inventory will pile up before someone makes a move.  It makes me wonder if those unrealistic sellers are just looking for a desperate sucker to pay their crazy asking prices. 
 
Is this house unrealistic or not? 900K or $261 sq ft.

http://www.redfin.com/CA/Orange/2475-N-Highwood-Rd-92867/home/5854111

the real reason im posting this is twofold, 1) the decor of the inside of this house is either really cool or horrible, depending on your taste. The inside is decorated like a 1950s diner, thought you guys may like/hate the decor. 2) what do you guys think is a reasonable price for this place? Using redfin's price per sq ft of recently closed comps of $231 sq ft, it puts this house at $796K. We really like this neighborhood and are looking at this house on Saturday with Trojanman. Similar houses have been closing at about $235 sq/ft, the main difference is this one has a view lot (shapell was charging a 5% premium recently on view lots in YL in their Corte Bella development). My guess is this house probably closes between 850-875K. Any input would be greatly appreciated!
 
It will sell for what the surrounding comparables did. Although it's well decorated IMHO (Kitchen feels like a Ruby's Diner) this gingerbreading adds little to the value of the property. Unless a buyer is paying cash it will have to sell for what the appraisal comes in at. $261 PSF seems like a reasonable deal on the surface. 
 
If they had done it in a more neutral design, I think they could get close to list price. The decor is going to limit the buyer pool because many people can't see past the paint and fixtures but I do think $850k+ is reasonable considering the sq footage, the lot size and the location (culdesac) and view lot.

(and it has a 3-car garage... not 3CWG, but 3LG is good too)
 
I personally hate the booth table setup, but all someone would need to do is pull that out and repaint all the red trim and its a fairly nice looking kitchen unless you absolutely hate the black and white.  BUt otherwise the kitsch is not to my taste.  Also hopefully there is a trashcan hidden in a cabinet or a space to put one closer to the work area, because if I had to walk all the way across that kitchen every time i wanted to throw something out I think it would make me mad.  Th.

oh my, I just saw the red and white striped walls.  Even the pictures give me vertigo.
http://www.redfin.com/CA/Orange/7874-E-Portico-Ter-92867/home/5854007sold for 850k according to redfin and its slightly larger with a slightly larger lot.  Plus that one has "Tamdom parking" so you know it must be awesome!
 
Talyssa said:
I personally hate the booth table setup, but all someone would need to do is pull that out and repaint all the red trim and its a fairly nice looking kitchen unless you absolutely hate the black and white.  BUt otherwise the kitsch is not to my taste.  Also hopefully there is a trashcan hidden in a cabinet or a space to put one closer to the work area, because if I had to walk all the way across that kitchen every time i wanted to throw something out I think it would make me mad.  Th.

oh my, I just saw the red and white striped walls.  Even the pictures give me vertigo.
http://www.redfin.com/CA/Orange/7874-E-Portico-Ter-92867/home/5854007sold for 850k according to redfin and its slightly larger with a slightly larger lot.  Plus that one has "Tamdom parking" so you know it must be awesome!
Click to expand...

we saw this house, it was nice, the big reason we didnt seriously consider it was the backyard. I dont want a pool, we have some dogs so i need a backyard with grass. Otherwise, it was pretty much turnkey, carpets were cleaned, new paint, the tile flooring was in good shape. Also, the pool is much nicer here than the diner house. The biggest difference is the view lot. 
 
You must log in or register to reply here.
Back
Top