Woodbury - Mille Fleurs

irvine123_IHB

irvine123_IHB

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<p>Any one here know much about Mille Fleurs of Woodbury? The phases they released last year started around $1.43 million ( without options), the latest releases (phase 12), they started at $1.27 million with a big option incentive included as part of the asking price. </p>

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The price range for their homes is between ~$1.4 -$1.6MM +. Never serious enough to inquire about incentives, but as is true with all homebuilders, they include all these upgrades at inflated retail value and offer them as if the buyers might be duped into believing that they are getting a good deal.
 
<a href="http://www.redfin.com/CA/Irvine/64-Gentry-92620/home/5950589">64 Gentry</a> Has been on sale since April 2007 (listed and unlisted several times). It will be interesting to see how much it sells for. It probably won't because the owner is asking too much.



Anyway, the reason I'm listing this is because of the Realtor's comments: "2003 PRICING!"



It's for sale at $1.35M, but was bought at $1,246,500 on 06/22/05. How can that be 2003 pricing...
 
Here's another Mille-Fleur home for sale <a href="http://www.redfin.com/CA/Irvine/27-Stowe-92620/home/5958552">27 Stowe</a>.



It's been on and off the market siunce January 2008. Very similar purchase date and price. Very similar asking price and sq. ft. The only difference is the 4 vs 6 bedrooms. I would think this one (4 bedrooms) is worth a lot less than the other one.



Anyhow, both shouldn't sell anytime soon.
 
One more model for sale <a href="http://www.redfin.com/CA/Irvine/38-Gentry-92620/home/5954216">38 Gentry</a>.



At least the agent and owner recognize that it should sell for less than the 2005 sale price.



Add <a href="http://www.redfin.com/CA/Irvine/49-Stowe-92620/home/5954222">49 Stowe</a> and <a href="http://www.redfin.com/CA/Irvine/60-Gentry-92620/home/5950596">60 Gentry</a> to the mix and you 5 Mille-Fleur model all overpriced and on the market for a long long time.



If one of the owner really wanted to sell, they could lower their price point a little bit and at least catch the first knife-catcher. It will take forever to sell all 5 homes.
 
[quote author="jhammons01" date=1231816998]But what is a Knife-Catcher?? A risk taker?</blockquote>
It's a term commonly used here to describe someone who buys when prices are still declining.



A knife DODGER is more of a risk taker... a knife catcher will more likely bleed than not.
 
[quote author="jhammons01" date=1231816998]^^thanks, those are great points...



But what is a Knife-Catcher?? A risk taker?</blockquote>


A knife catcher is someone who tries to catch a falling knife.

Now, do you have that visual? Painful, eh?

And now apply that idea to a home buyer who tries to catch the bottom of the housing market cycle, or even just one who thinks, "Yeah, I will buy now and it won't matter if prices go down a little bit more."

They may be correct and buy right at the bottom, or they may buy within a few percentage points of the bottom, but we call it, "trying to catch a falling knife."
 
What do you call someone who likes to buy new cars often? When you buy new cars, you lose thousands after you finish signing the purchase agreement.
 
[quote author="irvine123" date=1231825390]What do you call someone who likes to buy new cars often? When you buy new cars, you lose thousands after you finish signing the purchase agreement.</blockquote>


That's not the issue as much as to say that they are poor investments. However, if they were buying the cars with HELOC money...well, that's a different story altogether! :)
 
[quote author="irvine123" date=1231825390]What do you call someone who likes to buy new cars often?</blockquote>
A lease catcher.



If you are always buying a new car every few years... you should really look into leasing... or zero percent financing.
 
Three Mille-Fleur are under escrow right now, while one was closed on 3/1/2009 for $1.41.



21 Stowe shows as "for comps only", with a price of $1.41. Is this an actual sale?
 
[quote author="irvine123" date=1236586761]Three Mille-Fleur are under escrow right now, while one was closed on 3/1/2009 for $1.41.



21 Stowe shows as "for comps only", with a price of $1.41. Is this an actual sale?</blockquote>


32 Gentry will drag the entire Mille Fleur market down when it closes.

Seller is plenty motivated, got in with almost nothing down back in ?05 at just under $1.3M

Hopefully, it will close near or below the $300/ft. mark.

Very nice!
 
24 Stowe 's $1.41 million closing will probably cancel out the $1 million closing on 32 Gentry. If 32 Gentry is for sale by the bank, and will likely drag on for months. Since there are three MF homes in escrow now, and all of them are listed $150K to $200K highter, the bank might not take the offer.
 
38 Gentry which remains on the market is under fire as well.

They?ll need to reduce the price in order to move it.

Time is not on their side.

The market should continue to move lower.
 
38 Gentry has been under "backup" for two weeks now, so does 30 Gentry.



Also, FYI, one of the villa rose homes went into escrow in less then a month: address is 29 Dusty Rose. This homes's contingency has been removed since last Thursday.
 
Additionally, 32 Gentry is currently listed at $1.09M or $314/sq ft. Be interesting to see the closing prices for these homes. IR forecasted $275/sq ft back in 07. It's getting pretty close. :)



Tenmagnet, were you the one blasting out of Towngate with your red Ferrari on Saturday? @hit, stay away from the cyclists man... :p
 
[quote author="vicstah" date=1236649896]Additionally, 32 Gentry is currently listed at $1.09M or $314/sq ft. Be interesting to see the closing prices for these homes. IR forecasted $275/sq ft back in 07. It's getting pretty close. :)



Tenmagnet, were you the one blasting out of Towngate with your red Ferrari on Saturday? @hit, stay away from the cyclists man... :p</blockquote>


Vicstah, were you the one riding together with a woman Sat morning around 10am? I was right behind these two. Didn't see any Ferrari, did see a CL55 AMG blasting through.
 
[quote author="irvine123" date=1236655165]Vicstah, were you the one riding together with a woman Sat morning around 10am? I was right behind these two. Didn't see any Ferrari, did see a CL55 AMG blasting through.</blockquote>


No... that was just Petah who he was riding with.
 
i am surprised one sold/or is in escrow for 1.4mil. especially when you can get the big sierra home in portola on a prem view lot for 1.2mil. my wife and i went to see the MF model homes about 2yrs ago - 3yrs and i was so surprised that they were selling like hotcakes. we went back about 1.5yrs ago and they started pitching the same price 1.2-1.3 with upgrades included. i knew that was the atom bomb about to pop. they are nice but too pricey in my opinion. especially for 3400 sq ft ish.
 
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