Villa Rosa Listing for under $900,000

[quote author="roundcorners" date=1254738346]sorry to hi-jack P, but another subject, but I just confirm they are building another three models on Navigator; looks like SFRs very similar to Villa Rosa; haven't been close enough to get good pics, but I should soon... They also poured another two foundations yesterday next to the La Castilla models...</blockquote>


RC any ideas if these new SFRs will have comparables lots (5000 square feet) as Rosemoor and Villa Rosa? It would be truly awesome if these 2700 sq/ft SFRs are priced at $799,900. Perhaps this is the reason why 28 Winding Way dropped their prices $100k.
 
[quote author="asianinvasian" date=1254795693][quote author="PANDA" date=1254545304]<a href="http://www.redfin.com/CA/Irvine/28-Winding-Way-92620/home/5959474">http://www.redfin.com/CA/Irvine/28-Winding-Way-92620/home/5959474</a>



FINALLY!!! THESE BABIES ARE COMING DOWN! It is about time DAMMIT! $899,900 - ($249,900 Bubble) = $650,000 in 2012.



This Villa Rosa listing is Not a Short Sale.</blockquote>


I guess WTF pricing goes both ways.</blockquote>


Asian,

You really think Villa Rosa plan 1 at $650k in 2012 would be considered WTF ?? I dunno man.. Didn't T-man say that these homeowners are renting out their bathrooms, closets, living rooms, and garage to continue their mortgage payments? I don't blame them. If i was in their shoes and I couldn't keep paying the WTF mortgage... I would turn my Villa Rosa into a UCI Frat House.



Lambda-Lambda-Lamdda
 
[quote author="frank69m" date=1254993660]This listing is now off the market according to Redfin...Wonder what happened? Someone already buy it?</blockquote>
The properties status on MLS is "Pending" and here are the agent-to-agent comments:



"MULTIPLE FULL CASH OFFERS IN PROGRESS !!! ESCROW MUST CLOSE BEFORE OCT 16th !!! Title shown as PREFORELOSURE but this is NOT a short sale due to the total encumbrance. Total special assessment approximately $5,000 a year plus 1% of the purchase price. Make your offer today! All offers Mongo faxed to XXXXXXXXXX@cox.com. Thank you."
 
[quote author="PANDA" date=1254980377][quote author="roundcorners" date=1254738346]sorry to hi-jack P, but another subject, but I just confirm they are building another three models on Navigator; looks like SFRs very similar to Villa Rosa; haven't been close enough to get good pics, but I should soon... They also poured another two foundations yesterday next to the La Castilla models...</blockquote>


RC any ideas if these new SFRs will have comparables lots (5000 square feet) as Rosemoor and Villa Rosa? It would be truly awesome if these 2700 sq/ft SFRs are priced at $799,900. Perhaps this is the reason why 28 Winding Way dropped their prices $100k.</blockquote>


I have no idea P, this week has been such a blurrrr... I'll be sure to take some pictures tomorrow; it's getting really cold in the mornings for walks... uh,, hum... (65 is cold for us)... and I don't want our son to catch a cold... But for you guys; I'll try to snap some update shots... anyone else feel free to do some recon too... I'm not the only one lurking around these properties with cameras and who lives in WB...
 
[quote author="USCTrojanCPA" date=1254995005][quote author="frank69m" date=1254993660]This listing is now off the market according to Redfin...Wonder what happened? Someone already buy it?</blockquote>
The properties status on MLS is "Pending" and here are the agent-to-agent comments:



"MULTIPLE FULL CASH OFFERS IN PROGRESS !!! ESCROW MUST CLOSE BEFORE OCT 16th !!! Title shown as PREFORELOSURE but this is NOT a short sale due to the total encumbrance. Total special assessment approximately $5,000 a year plus 1% of the purchase price. Make your offer today! All offers Mongo faxed to XXXXXXXXXX@cox.com. Thank you."</blockquote>


Wow. That was a fast sale.



It looks like Villa Rosa has 2 more homesites at 63 and 66, priced at



$1,102,000 and $1,093,000



base tax rate: 1.04% (not sure why it isn't 1%)



but the Melo-Roos is a holy cow $6,110/year and $105 associations.





So not sure why what I have is different from yours. I got this off the flier at the Lennar Sales area.
 
[quote author="asianinvasian" date=1254795693][quote author="PANDA" date=1254545304]<a href="http://www.redfin.com/CA/Irvine/28-Winding-Way-92620/home/5959474">http://www.redfin.com/CA/Irvine/28-Winding-Way-92620/home/5959474</a>



FINALLY!!! THESE BABIES ARE COMING DOWN! It is about time DAMMIT! $899,900 - ($249,900 Bubble) = $650,000 in 2012.



This Villa Rosa listing is Not a Short Sale.</blockquote>


I guess WTF pricing goes both ways.</blockquote>


Not meant to bust anyone parties, but 650,000 for this house does seem like a fantasy. I don't see that happening without a major disaster happening in Southern California.
 
[quote author="Look4house" date=1254999171][quote author="asianinvasian" date=1254795693][quote author="PANDA" date=1254545304]<a href="http://www.redfin.com/CA/Irvine/28-Winding-Way-92620/home/5959474">http://www.redfin.com/CA/Irvine/28-Winding-Way-92620/home/5959474</a>



FINALLY!!! THESE BABIES ARE COMING DOWN! It is about time DAMMIT! $899,900 - ($249,900 Bubble) = $650,000 in 2012.



This Villa Rosa listing is Not a Short Sale.</blockquote>


I guess WTF pricing goes both ways.</blockquote>


Not meant to bust anyone parties, but 650,000 for this house does seem like a fantasy. I don't see that happening without a major disaster happening in Southern California.</blockquote>




$650,000 WILL always be a LOT of $$, at least for me... Yes, I know for the majority of people out there who bought, sold and played the RE game the past few years might think $650-Gs is just chump change... but to pre-first time home buyers like myself... who never bought into the Kool-aid, sipped the dream & tasted the easy $$ flow... we who earning every penny through blood, sweat & tears WILL always think $650,000 is a LOT of money... IMHO our sense of how much something is worth is so sewed that this same majority need to come face the realities of income, the economy and future earning potentials...
 
[quote author="Look4house" date=1254999171][quote author="asianinvasian" date=1254795693][quote author="PANDA" date=1254545304]<a href="http://www.redfin.com/CA/Irvine/28-Winding-Way-92620/home/5959474">http://www.redfin.com/CA/Irvine/28-Winding-Way-92620/home/5959474</a>



FINALLY!!! THESE BABIES ARE COMING DOWN! It is about time DAMMIT! $899,900 - ($249,900 Bubble) = $650,000 in 2012.



This Villa Rosa listing is Not a Short Sale.</blockquote>


I guess WTF pricing goes both ways.</blockquote>


Not meant to bust anyone parties, but 650,000 for this house does seem like a fantasy. I don't see that happening without a <strong>major disaster</strong> happening in Southern California.</blockquote>


Looking at the unemployment increasing every single month for the last <strong>four</strong> years, and employment levels at the same level as they were in 2002 and headed towards pre-2000 levels... I'd say that the disaster is upon us. Once the reality sets in that we will not recover from those job losses well beyond 2012 is when we will see a place like this sell for $650k. You can't buy a home without a job and there are only so many people with jobs that are buying homes now, that they will not be buying for years to come. History is repeating itself. Wash, rinse, and repeat.
 
[quote author="roundcorners" date=1255001861][quote author="Look4house" date=1254999171][quote author="asianinvasian" date=1254795693][quote author="PANDA" date=1254545304]<a href="http://www.redfin.com/CA/Irvine/28-Winding-Way-92620/home/5959474">http://www.redfin.com/CA/Irvine/28-Winding-Way-92620/home/5959474</a>



FINALLY!!! THESE BABIES ARE COMING DOWN! It is about time DAMMIT! $899,900 - ($249,900 Bubble) = $650,000 in 2012.



This Villa Rosa listing is Not a Short Sale.</blockquote>


I guess WTF pricing goes both ways.</blockquote>


Not meant to bust anyone parties, but 650,000 for this house does seem like a fantasy. I don't see that happening without a major disaster happening in Southern California.</blockquote>




$650,000 WILL always be a LOT of $$, at least for me... Yes, I know for the majority of people out there who bought, sold and played the RE game the past few years might think $650-Gs is just chump change... but to pre-first time home buyers like myself... who never bought into the Kool-aid, sipped the dream & tasted the easy $$ flow... we who earning every penny through blood, sweat & tears WILL always think $650,000 is a LOT of money... IMHO our sense of how much something is worth is so sewed that this same majority need to come face the realities of income, the economy and future earning potentials...</blockquote>


I agree $650,000 is a lot of money to the average population. There will be other houses that are available for $400,000 or $500,000. It just won't be this house IMO.
 
[quote author="graphrix" date=1255002423][quote author="Look4house" date=1254999171][quote author="asianinvasian" date=1254795693][quote author="PANDA" date=1254545304]<a href="http://www.redfin.com/CA/Irvine/28-Winding-Way-92620/home/5959474">http://www.redfin.com/CA/Irvine/28-Winding-Way-92620/home/5959474</a>



FINALLY!!! THESE BABIES ARE COMING DOWN! It is about time DAMMIT! $899,900 - ($249,900 Bubble) = $650,000 in 2012.



This Villa Rosa listing is Not a Short Sale.</blockquote>


I guess WTF pricing goes both ways.</blockquote>


Not meant to bust anyone parties, but 650,000 for this house does seem like a fantasy. I don't see that happening without a <strong>major disaster</strong> happening in Southern California.</blockquote>


Looking at the unemployment increasing every single month for the last <strong>four</strong> years, and employment levels at the same level as they were in 2002 and headed towards pre-2000 levels... I'd say that the disaster is upon us. Once the reality sets in that we will not recover from those job losses well beyond 2012 is when we will see a place like this sell for $650k. You can't buy a home without a job and there are only so many people with jobs that are buying homes now, that they will not be buying for years to come. History is repeating itself. Wash, rinse, and repeat.</blockquote>


Your definition of disaster is different from mine. While I have a very different unemployment outlook than yours, I am not going to argue. I guess we will find out in 2012 or beyond to see whether these houses in WB can be bought for $650,000.
 
[quote author="Look4house" date=1255003784]Your definition of disaster is different from mine. While I have a very different unemployment outlook than yours, I am not going to argue. I guess we will find out in 2012 or beyond to see whether these houses in WB can be bought for $650,000.</blockquote>


I don't want to argue either, but what is your outlook on employment? And... can you prove your point with factual stats? Since you are new, so to speak, you might want to check out my record on employment predictions. I have been scarily correct and even IPO owes me drinks for it. After he finds a full time comparable paying job. I'd love to have an intelligent discussion on the subject again.
 
[quote author="graphrix" date=1255005605][quote author="Look4house" date=1255003784]Your definition of disaster is different from mine. While I have a very different unemployment outlook than yours, I am not going to argue. I guess we will find out in 2012 or beyond to see whether these houses in WB can be bought for $650,000.</blockquote>


I don't want to argue either, but what is your outlook on employment? And... can you prove your point with factual stats? Since you are new, so to speak, you might want to check out my record on employment predictions. I have been scarily correct and even IPO owes me drinks for it. After he finds a full time comparable paying job. I'd love to have an intelligent discussion on the subject again.</blockquote>


Unemployment is one thing. Now the Asian buyers coming from different counties is another keeping the prices up. Although, that didn't help Monterey park :)
 
[quote author="Look4house" date=1254999171][quote author="asianinvasian" date=1254795693][quote author="PANDA" date=1254545304]<a href="http://www.redfin.com/CA/Irvine/28-Winding-Way-92620/home/5959474">http://www.redfin.com/CA/Irvine/28-Winding-Way-92620/home/5959474</a>



FINALLY!!! THESE BABIES ARE COMING DOWN! It is about time DAMMIT! $899,900 - ($249,900 Bubble) = $650,000 in 2012.



This Villa Rosa listing is Not a Short Sale.</blockquote>


I guess WTF pricing goes both ways.</blockquote>


Not meant to bust anyone parties, but 650,000 for this house does seem like a fantasy. I don't see that happening without a major disaster happening in Southern California.</blockquote>


Watch the movie 2012 and you will see prices go to $6.50, not $650,000.
 
[quote author="graphrix" date=1255005605][quote author="Look4house" date=1255003784]Your definition of disaster is different from mine. While I have a very different unemployment outlook than yours, I am not going to argue. I guess we will find out in 2012 or beyond to see whether these houses in WB can be bought for $650,000.</blockquote>


I don't want to argue either, but what is your outlook on employment? And... can you prove your point with factual stats? Since you are new, so to speak, you might want to check out my record on employment predictions. I have been scarily correct and even IPO owes me drinks for it. After he finds a full time comparable paying job. I'd love to have an intelligent discussion on the subject again.</blockquote>


Too busy to check your records. And I will take your word for it. I know you have the superpower to predict the future. I will wait for 2012 to see who is right.
 
[quote author="Look4house" date=1255073095][quote author="graphrix" date=1255005605][quote author="Look4house" date=1255003784]Your definition of disaster is different from mine. While I have a very different unemployment outlook than yours, I am not going to argue. I guess we will find out in 2012 or beyond to see whether these houses in WB can be bought for $650,000.</blockquote>


I don't want to argue either, but what is your outlook on employment? And... can you prove your point with factual stats? Since you are new, so to speak, you might want to check out my record on employment predictions. I have been scarily correct and even IPO owes me drinks for it. After he finds a full time comparable paying job. I'd love to have an intelligent discussion on the subject again.</blockquote>


Too busy to check your records. And I will take your word for it. I know you have the superpower to predict the future. I will wait for 2012 to see who is right.</blockquote>


Sooo... then what is <em>your</em> outlook on employment? No need to check my records. You brought it up after all, and this is a forum for <em>discussion</em>.
 
So to get back on topic after graph killjoyed it...



I passed by Woodbury today, looked at Villa Rosa again (it's huge now compared to our current home... hehe) and they are still selling them at $1.08-1.11m.



The wife actually likes it again... nothing as tempting as that new house smell.



We also went back to Portola Springs to revisit Las Colinas... which were also in the 1.1s. Much nicer plan... but still over $1m on the downslide of a bubble just boggles my mind.



And with recent closings.... will these houses ever get sub $900k? I would dive in if they were sub $800k but I don't think that's going to happen.
 
Villa Rosa is no longer making plan 1, which was my favorite design, except for the fact that the master is in on the first floor. I've noticed several Villa Rosa Asian home owners who have over a million dollar mortgage barely hanging on, and 1 or 2 Asian owners who have the home practically paid off. Same situation with the non-Asian VR homeowners. Therefore the Asians are not immune for the bust to come in 2010 and beyond. Plan 3 Las Colinas is gorgeous with a nice sized lot. These are the type of homes that will age very well.



I do think that Las Colinas will drop to $775,000 - $800,000 range in a couple of years. The correction is just beginning in Irvine and it is going to be fun to watch.
 
I'd be really curious to know why you like Villa Rosa so much. With small kids on the way (congratulations!!!), I wouldn't like them at all. The thing I noticed when walking the models was that the master bedrooms looked into the secondary bedrooms or baths of the next door homes. That just struck me as really creepy in an "American Beauty" or "Mrs. Robinson" kind of way.
 
Eva,

I mainly like the way the Villa Rosa looks from the outside, but not a big of the interior layout of the home. However, since there is a such a shortage of these newer 2500 - 2700 square feet SFRs like VR and Rosemoor, we don't have much to choose from at the moment. Given the choice, I would much rather prefer Las Colinas over Villa Rosa.
 
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