Villages of Columbus - Columbus Grove - Alexandria

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Looks like 22 Honey Locus sold for $763,416, that was another 6% off of the listed price of $809,000. That is roughly 38% off from the top of $1.22 million in 8/06! This is getting really exciting; can someone see how much they put down?
 
roundcorners said:
Looks like 22 Honey Locus sold for $763,416, that was another 6% off of the listed price of $809,000. That is roughly 38% off from the top of $1.22 million in 8/06! This is getting really exciting; can someone see how much they put down?
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That ($763,416) was the bank taking it back at auction on 10/10/08. They will resell it soon at market value.
 
More. For all of Irvine, here are current comps for 5 bedrooms, built after 2004, minimum of 2900sqft.

There are 44 active properties, but the lowest among them is at $981K.

Buyer identification - target market buys a 5 bedroom because they need a 5 bedroom home.

Even at $925K, you would be selling at $50K off relative to the nearest price competitor.

comps.JPG
 
I'm shocked. I thought the 19 million dollar home was a misprint. Then I checked redfin and there are 7 listings in Irvine over 10 million. I'm surprised after nearly 500 days no one has decided to scoop up such a hot deal.
 
Thanks as always IR2...

My guess is that the auction was not held publicly, when they say, "it went back to the bank" is this what happened? By the way, IR2, you'll have my business when the time comes...
 
socalhousingbubble said:
IrvineRealtor said:
More...Even at $925K, you would be selling at $50K off relative to the nearest price competitor.
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With $162k in available risk-reduction margin, why didn't someone pick it up at auction?

SCHB
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I attempted to pick skek's coat pocket at the book-signing for just this reason.

As he's always ahead of me, all I got were 3 cheerios and some lint.

Alas, no checkbook.

(and even I won't go where Ipop keeps his cash.)
 
IrvineRealtor said:
socalhousingbubble said:
IrvineRealtor said:
More...Even at $925K, you would be selling at $50K off relative to the nearest price competitor.
Click to expand...

With $162k in available risk-reduction margin, why didn't someone pick it up at auction?

SCHB
Click to expand...

I attempted to pick skek's coat pocket at the book-signing for just this reason.

As he's always ahead of me, all I got were 3 cheerios and some lint.

Alas, no checkbook.

(and even I won't go where Ipop keeps his cash.)
Click to expand...

Oh dear gawd... his wife is precious woman, and I hope he appreciates her for the woman she truly is. Because... no one, and really mean no one, would go there.
 
graphrix said:
I just thought I would bump this thread to let everyone know that 20 Honey Locust went back to the bank for $705k, last sold for $1,349,000.

Oh... and to remind everyone how disturbed Ipo really is.
Click to expand...
So no investor wanted to nibble on that 45%+ discount, eh? I wonder what this thing will sell for...
 
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