What's going into escrow - Irvine and maybe some Tustin too

NEW -> Contingent Buyer Assistance Program
We looked at Santa Rida. It's one of our backups. We want to be in QH though... even if there are no 3-car wide garages there.

Interestingly enough... the rental market is just as soft as the purchase one. Almost every single lease we've looked at is willing to knock a few hundred off their listing.

If only we could find the right one.
 
Ipop - Take 2 of these and call me in the morning.

fukitol.jpg
 
SoCal -

My doctor gave me a prescription for those 2 months ago. I went back to her after a week and gave her a piece of my mind and it went something like this:

IR2 - "What did you give me? These taste like $hi# and don't seem to work at all. I might as well have shoved them up my @$$."

Dr - "Um, they're suppositories, sir."

Lesson learned.
 
tenmagnet said:
ipoplaya said:
15 Woodhaven in NW Pointe closed today for $1.195M. Down to $379 per sf... Actually a pretty good rollback considering they paid $720K back in early 2001. Works out to around Spring 2004 pricing.
Click to expand...

Well apparently a lot of these sellers still aren’t getting the message.

I’m looking to offer $320/ft. for 35 Malibu

6 Malibu recently closed at $352/ft.

I thought all $$$ buyers dried up or like myself are sitting on the sidelines.

When do we start to see some real declines?
Click to expand...

I am bumpy this oldie up because 35 Malibu is still for sale, and fell out of escrow once that I know of. Also because 2 Malibu is for sale for under a mil. and at $304 a sqft. Granted it is not as nice of a house, but don't be surprised if this one gets below $300 a sqft. They have until the 20th of January for the foreclosure auction. With the NTS being $899k, and lenders decreasing their minimum bids from the NTS amount, then it could be had at the auction for sub $300 a sqft.
 
graphrix said:
tenmagnet said:
ipoplaya said:
15 Woodhaven in NW Pointe closed today for $1.195M. Down to $379 per sf... Actually a pretty good rollback considering they paid $720K back in early 2001. Works out to around Spring 2004 pricing.
Click to expand...

Well apparently a lot of these sellers still aren’t getting the message.

I’m looking to offer $320/ft. for 35 Malibu

6 Malibu recently closed at $352/ft.

I thought all $$$ buyers dried up or like myself are sitting on the sidelines.

When do we start to see some real declines?
Click to expand...

I am bumpy this oldie up because 35 Malibu is still for sale, and fell out of escrow once that I know of. Also because 2 Malibu is for sale for under a mil. and at $304 a sqft. Granted it is not as nice of a house, but don't be surprised if this one gets below $300 a sqft. They have until the 20th of January for the foreclosure auction. With the NTS being $899k, and lenders decreasing their minimum bids from the NTS amount, then it could be had at the auction for sub $300 a sqft.
Click to expand...

Damn straight!

They should’ve taken my offer at $320/ft. back in April while the getting was good.

Times are tough, they’re just aren’t that many horses in the race.

Given that Paso Robles closed at $311/ft.

$300/ft seems about right for an offer on 35 Malibu.
 
Finally had a couple of low closes in recent days so December is only showing a +7% over November. Good ole Tustin Field, with its 30% off peak, helped out nicely and an Oak Creek place that sides to the 405 got crushed on sales price.
 
ipoplaya said:
Finally had a couple of low closes in recent days so December is only showing a +7% over November. Good ole Tustin Field, with its 30% off peak, helped out nicely and an Oak Creek place that sides to the 405 got crushed on sales price.
Click to expand...

Ouch!

Good ole Tustin Field got creamed.

Down $336,000 since March of ’06.

Nothing to get excited about, right?

Let me know when, I'm waiting for your cue
 
tenmagnet said:
ipoplaya said:
Finally had a couple of low closes in recent days so December is only showing a +7% over November. Good ole Tustin Field, with its 30% off peak, helped out nicely and an Oak Creek place that sides to the 405 got crushed on sales price.
Click to expand...

Ouch!

Good ole Tustin Field got creamed.

Down $336,000 since March of ’06.

Nothing to get excited about, right?

Let me know when, I'm waiting for your cue
Click to expand...

Look at the rollback on Pineview. That one went deep into 2003 pricing... We need to see more of that pronto.
 
tenmagnet said:
ipoplaya said:
Finally had a couple of low closes in recent days so December is only showing a +7% over November. Good ole Tustin Field, with its 30% off peak, helped out nicely and an Oak Creek place that sides to the 405 got crushed on sales price.
Click to expand...

Ouch!

Good ole Tustin Field got creamed.

Down $336,000 since March of ’06.

Nothing to get excited about, right?

Let me know when, I'm waiting for your cue
Click to expand...

You may like this one ten. 3 Templeton in NP. 4300sf and a 13K sf lot. Looks like it was an REO. Just closed for $1.54M. Bought for $1M in mid 2001 so it's borderline 2003/2004 pricing.
 
ipoplaya said:
tenmagnet said:
ipoplaya said:
Finally had a couple of low closes in recent days so December is only showing a +7% over November. Good ole Tustin Field, with its 30% off peak, helped out nicely and an Oak Creek place that sides to the 405 got crushed on sales price.
Click to expand...

Ouch!

Good ole Tustin Field got creamed.

Down $336,000 since March of ’06.

Nothing to get excited about, right?

Let me know when, I'm waiting for your cue
Click to expand...

You may like this one ten. 3 Templeton in NP. 4300sf and a 13K sf lot. Looks like it was an REO. Just closed for $1.54M. Bought for $1M in mid 2001 so it's borderline 2003/2004 pricing.
Click to expand...

Yeah, that one’s sweet.

Ideal place situated on a fairly large lot.

Closing price put a damper on my enthusiasm.

Would like to see prices close to or near $300/ft.
 
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