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

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Heh, it's funny how 56 Calavera went into escrow two days before it was scheduled for the auction. At $899k it is a short sale since the NTS is $950k. I wonder if we have a new phenomenon going on here called straw escrowers?
 
graphrix said:
Heh, it's funny how 56 Calavera went into escrow two days before it was scheduled for the auction. At $899k it is a short sale since the NTS is $950k. I wonder if we have a new phenomenon going on here called straw escrowers?
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Anything to keep milking the free housing cow right?!

I'm exhausted from a massive escrow update. I think I added 25 new properties today... There won't be any houses left to sell in Irvine if this keeps up. Inventory at almost sub 800 level and oodles still going contract.
 
63 Sanctuary, 3500sf Mille Fleur in WB, appears to have closed for $1.19M last week. I can't tell how much it cost the owners originally though so no idea how deep a rollback that one is...

Also 23 Stowe in WB closed for $1.376M.
 
ipoplaya said:
63 Sanctuary, 3500sf Mille Fleur in WB, appears to have closed for $1.19M last week. I can't tell how much it cost the owners originally though so no idea how deep a rollback that one is...

Also 23 Stowe in WB closed for $1.376M.
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The only prior sale I see for 63 Sanctuary is the builder's original sale in March 2006 for $1.387M ($1,109,250 first/$277,300 second, $450/down). Went back to the bank on 6/12/2008 for $1,052,625. I don't see any MEW or other shennanigans. I'll leave the 'rollback' calculations to you.

Been following your numbers/commentary for quite a while, Ipop -- thanks for all your hard work and insight.
 
ipoplaya said:
graphrix said:
Heh, it's funny how 56 Calavera went into escrow two days before it was scheduled for the auction. At $899k it is a short sale since the NTS is $950k. I wonder if we have a new phenomenon going on here called straw escrowers?
Click to expand...

Anything to keep milking the free housing cow right?!

I'm exhausted from a massive escrow update. I think I added 25 new properties today... There won't be any houses left to sell in Irvine if this keeps up. Inventory at almost sub 800 level and oodles still going contract.
Click to expand...

I can't believe how many houses went into escrow. WOW! I hope 90% of them fall out...
 
wow, really ugly color!

I still see a whole lot more variation in your numbers for Irvine than mine for CM. There are a lot of sales above 230 in yours, as well as some low ones. My numbers for CM are much more tightly clustered around CS180 (+/- 5) last month.

Thanks for the update
 
50 Summer House in Turtle Ridge closed recently. Sold for $1.895M. Bought in 2004 for $1.486M.

Yes, you read that correctly, sold for $400K more than 2004 purchase price!
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It's anomally,Amberhill was selling for about $1.9M in Dec 2003 and it only has a few houses left.
 
Amazing the diff between TRidge and Tustin Field. Just got report on a close there, 1470 Voyager, which went for $901K. Still way too high IMO, but it was $400K, or almost 31% off its peak price, which was $1.30M in Aug 2006...
 
tenmagnet said:
Ipop,

We’re not talking about 21 Upland.

We’re discussing Mar Vista.

If it wasn’t all that, then it certainly would’ve languished on the market longer, wouldn’t you agree?

The fact remains it was taken down fast, inferior location or otherwise.

Regarding, Upland, if that seller weren’t so stubborn and cut the price it would move.
Click to expand...

Looks like this 'trophy' house is back on the market. I think it's worth only $850k
 
cantaloop said:
tenmagnet said:
Ipop,

We’re not talking about 21 Upland.

We’re discussing Mar Vista.

If it wasn’t all that, then it certainly would’ve languished on the market longer, wouldn’t you agree?

The fact remains it was taken down fast, inferior location or otherwise.

Regarding, Upland, if that seller weren’t so stubborn and cut the price it would move.
Click to expand...

Looks like this 'trophy' house is back on the market. I think it's worth only $850k
Click to expand...

Ten's fave French chateau, 14 Mar Vista, is back in escrow now...
 
I regularly search for lowest-priced 4bdr SFRs in Irvine, and was stunned to find that somebody is snatching up these properties, 4 of these are currently in escrow. I guess I was just surprised to find while scrolling down my search results "Backup offers" 4 times in a row, something I haven't seen in a long time...

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MLS#: S543566 $574,900

3662 Bates St

Irvine, CA 92614

4 Bedrooms / 2 Baths

1650 SF (approx)

More Details...Virtual Tour...

(10 of 305 listings)

Status:Backup Offers

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MLS#: S531617 $575,000

7 Skipper

Irvine, CA 92604

4 Bedrooms / 3 Baths

2000 SF (approx)

More Details...Virtual Tour...

(11 of 305 listings)

Status:Backup Offers

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MLS#: S528724 $597,500 Recently Updated!

3671 Claremont St

Irvine, CA 92614

5 Bedrooms / 3 Baths

2533 SF (approx)

More Details...

(12 of 305 listings)

Status:Backup Offers

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MLS#: S544309 $599,000

23 Muir

Irvine, CA 92620

4 Bedrooms / 3 Baths

2109 SF (approx)

More Details...

(13 of 305 listings)

Status:Backup Offers
 
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