What's going into escrow - Irvine and maybe some Tustin too
- Thread starter ipoplaya_IHB
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I think my HOA is having free pizza tonight awgee if you want to come by. You need to cast your vote in the annual director's election though. Just say you are Mike Dunn and that your address is 74 Sorenson...
Ran into an appraiser that lives in my neighborhood this weekend and he said that business had picked up nicely of late. He's doing more appraisals than he's done since last summer...
Is the street name Portisol? I couldn't find that name in my online title search service.
Street was Rising Sun. Portisol is the name of the Cal Pac tract it belongs to. IR deuce was kind enough to give me a report with the previous sale. $909K in 2005, $750K today. That rollback is right in line with the rest of Irvine, i.e. no Woodbury/new development on that transaction.
That listing was on the market for 1 day (after that I think it was accepting backups) and it was a short sale. The seller was a licensed RE agent. The $909k price was in August 2005. $750k is quite the haircut
Can you tell if it was originally bought on 100% financing?
55 South Rising Sun
I think there are some solid deals, but they are very apparent and usually snatched up. The two condos IPO added to his site are good examples, both were over 100k less then comps.
I'm not sure if the smaller places in woodbury deserve a $50 sq.ft premium over slightly older places in northpark, oak creek, or westpark. Usually the building materials in smaller places are on par all over the place. Perhaps the nicer new places do demand a premium, otoh.
So true. 43 Rising Sun has been postponing the foreclosure date month after month. The NTS on that one is $673k, so if it does ever go back to the bank, it will be a nice comp killer.
Oh Graph, can't you get it through your thick head that a foreclosure doesn't set a comp?!? Sheesh.
IrvineRealtor_IHB
New member
Sounds like my next "value added" thread... Free Lunch Wednesdays.
ipoplaya_IHB
New member
awgee said:
I think my HOA is having free pizza tonight awgee if you want to come by. You need to cast your vote in the annual director's election though. Just say you are Mike Dunn and that your address is 74 Sorenson...
ipoplaya_IHB
New member
Masterofdamoney said:
Ran into an appraiser that lives in my neighborhood this weekend and he said that business had picked up nicely of late. He's doing more appraisals than he's done since last summer...
ipoplaya_IHB
New member
37 Crimson Rose got back into escrow... Weird list price history on that one. Seems like the realtor is manic.
Just saw an MLS update on a plan 3 Portisol in Woodbury close - $750K closed on 4/30/08. I have no idea of previous purchase price and date, $325 per sf sure seems like a pretty deep rollback for WB.
Just saw an MLS update on a plan 3 Portisol in Woodbury close - $750K closed on 4/30/08. I have no idea of previous purchase price and date, $325 per sf sure seems like a pretty deep rollback for WB.
EvaLSeraphim_IHB
New member
ipoplaya said:
Is the street name Portisol? I couldn't find that name in my online title search service.
ipoplaya_IHB
New member
EvaLSeraphim said:
Street was Rising Sun. Portisol is the name of the Cal Pac tract it belongs to. IR deuce was kind enough to give me a report with the previous sale. $909K in 2005, $750K today. That rollback is right in line with the rest of Irvine, i.e. no Woodbury/new development on that transaction.
zovall_IHB
New member
That listing was on the market for 1 day (after that I think it was accepting backups) and it was a short sale. The seller was a licensed RE agent. The $909k price was in August 2005. $750k is quite the haircut
Can you tell if it was originally bought on 100% financing?
EvaLSeraphim_IHB
New member
I can check tonight. What's the address? 3 Rising Sun?
kcmkane_IHB
New member
Hmmm....$325 sq ft in Woodbury. Seriously, what do you all think of that?
I've held to the belief of $250 sq ft median at the bottom for Irvine for some time. So where does that leave a newer community like Woodbury? Is there a premium up to $300 - $325 psf? Or will the steep tax and HOA rates ultimately step on the values of these bubble communities, and leave them more in line with the overall median?
There have been several sales recently that have got me thinking there are some solid deals available out there if you can qualify and are in the right place at the right time....But maybe I've just got spring fever. Curious if anyone else's interest level has picked back up in the last couple months.
I've held to the belief of $250 sq ft median at the bottom for Irvine for some time. So where does that leave a newer community like Woodbury? Is there a premium up to $300 - $325 psf? Or will the steep tax and HOA rates ultimately step on the values of these bubble communities, and leave them more in line with the overall median?
There have been several sales recently that have got me thinking there are some solid deals available out there if you can qualify and are in the right place at the right time....But maybe I've just got spring fever. Curious if anyone else's interest level has picked back up in the last couple months.
zovall_IHB
New member
EvaLSeraphim said:
55 South Rising Sun
25w100k+_IHB
New member
CK said:
I think there are some solid deals, but they are very apparent and usually snatched up. The two condos IPO added to his site are good examples, both were over 100k less then comps.
I'm not sure if the smaller places in woodbury deserve a $50 sq.ft premium over slightly older places in northpark, oak creek, or westpark. Usually the building materials in smaller places are on par all over the place. Perhaps the nicer new places do demand a premium, otoh.
graphrix_IHB
New member
acpme said:
So true. 43 Rising Sun has been postponing the foreclosure date month after month. The NTS on that one is $673k, so if it does ever go back to the bank, it will be a nice comp killer.
EvaLSeraphim_IHB
New member
graphrix said:
Oh Graph, can't you get it through your thick head that a foreclosure doesn't set a comp?!? Sheesh.
ipoplaya_IHB
New member
Couple of closing prices updated today... 6 Plumeria in NW Pointe closed for $1.6M. Amazingly, that was a pretty decent rollback considering they bought it new in 1998 for $733K.
IPO-Shiller
A number of recent Irvine closes have been owned since before '88 and hence, can't be re-indexed Case-Shilla style based on current sales price...
IPO-Shiller
A number of recent Irvine closes have been owned since before '88 and hence, can't be re-indexed Case-Shilla style based on current sales price...
EvaLSeraphim_IHB
New member
50 Rising Sun - Sale Date 11/29/2007 - $780,000
55 Rising Sun - Sale Date 4/19/2005 - $909,000
That's as updated as my info gets. Sorry. :down:
55 Rising Sun - Sale Date 4/19/2005 - $909,000
That's as updated as my info gets. Sorry. :down:
ipoplaya_IHB
New member
104 Treehouse in QH just closed for $1.02M. Ack, I wouldn't want to be waiting for QH to become reasonable price-wise. People are still late 2005 prices to buy there... Treehouse went for $400+ per sf.