Woodbury - Stonetree Manor

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[quote author="tenmagnet" date=1237251175]Buyer Beware!!!

The plan 2 Model next door is in escrow at $650K</blockquote>


35% drop for Woodbury. It just CAN'T BE. Next you're going to say that Quail Hill and Turtle Ridge will also come down to reality. If its is true, then its obviously the bottom because it can't go below $300/sf.
 
[quote author="tenmagnet" date=1237251175]Buyer Beware!!!

The plan 2 Model next door is in escrow at $650K</blockquote>
Is that their asking price or is that the soon-to-be sales price?
 
[quote author="halfnote19" date=1237266868][quote author="tenmagnet" date=1237251175]Buyer Beware!!!

The plan 2 Model next door is in escrow at $650K</blockquote>
Is that their asking price or is that the soon-to-be sales price?</blockquote>


Per <a href="http://www.ipoplaya.com">IPOs website</a>--<a href="http://www.redfin.com/CA/Irvine/94-Rinaldi-92620/home/12253008">94 Rinald</a>i went into escrow on 3/8/09 at the short sale listed price of $650K. We will have to wait and see for the final sales price--I am sure it will be more than asking.



My guess ~$750K, the amount on the remaining mortgage. 95 Lamplighter (plan 2, avg upgrades) across from the Commons went for $745K in December. 38 Twin Gables (highly upgraded plan 2 but near community entrance) went into escrow as short sale on 1/29/09 for list of $725K. 111 Lamplighter across from Commons (plan2, not much upgrades and needs some work), asking $729K. 49 Plantation (plan2 with nice upgrades), asking $759K.
 
Stonetree Manor REO just came on the market for $664,900 and it's a plan 3. Went back to the bank for $638,000. <a href="http://www.redfin.com/CA/Irvine/179-Intrigue-92620/home/7210978">Link Here</a>. We often walk past many vacant REO Stonetree Manor homes on the way to the Woodbury town center. It's just a matter of time before more of these REO start poping up.



If someone bids this up they are being foolish considering for $45,000 more you could have bought a true single family home with $123 less HOA <a href="http://www.zillow.com/homedetails/59-Midnight-Sky-Irvine-CA-92620/64772017_zpid/">here.</a> Or <a href="http://www.zillow.com/homedetails/47-Waterspout-Irvine-CA-92620/64900169_zpid/">this other one</a> for $17,000 more.
 
[quote author="Mcdonna1980" date=1238023645]Stonetree Manor REO just came on the market for $664,900 and it's a plan 3. Went back to the bank for $638,000. <a href="http://www.redfin.com/CA/Irvine/179-Intrigue-92620/home/7210978">Link Here</a>. We often walk past many vacant REO Stonetree Manor homes on the way to the Woodbury town center. It's just a matter of time before more of these REO start poping up.



If someone bids this up they are being foolish considering for $45,000 more you could have bought a true single family home with $123 less HOA <a href="http://www.zillow.com/homedetails/59-Midnight-Sky-Irvine-CA-92620/64772017_zpid/">here.</a> Or <a href="http://www.zillow.com/homedetails/47-Waterspout-Irvine-CA-92620/64900169_zpid/">this other one</a> for $17,000 more.</blockquote>


Currently priced $300K off ?05 purchase price of $971K

We?ll see if it gets bidded up.

I think it will.
 
[quote author="Mcdonna1980" date=1238023645]Stonetree Manor REO just came on the market for $664,900 and it's a plan 3. Went back to the bank for $638,000. <a href="http://www.redfin.com/CA/Irvine/179-Intrigue-92620/home/7210978">Link Here</a>. We often walk past many vacant REO Stonetree Manor homes on the way to the Woodbury town center. It's just a matter of time before more of these REO start poping up.



If someone bids this up they are being foolish considering for $45,000 more you could have bought a true single family home with $123 less HOA <a href="http://www.zillow.com/homedetails/59-Midnight-Sky-Irvine-CA-92620/64772017_zpid/">here.</a> Or <a href="http://www.zillow.com/homedetails/47-Waterspout-Irvine-CA-92620/64900169_zpid/">this other one</a> for $17,000 more.</blockquote>


Another crack in the Woodbury armor--<a href="http://www.redfin.com/CA/Irvine/24-Twin-Gables-92620/home/12253217 ">another REO for a plan 3 Stone Tree</a>. They are asking $699K. These have got to be hurting the comps now. Per Redfin they originally purchased for $1.15M!!! Can't believe these stucco boxes were bought for that kind of coin.



For those who have waited for a Stonetree home you can start smiling now. The REOs are here.
 
[quote author="IACRenter" date=1239219882][quote author="Mcdonna1980" date=1238023645]Stonetree Manor REO just came on the market for $664,900 and it's a plan 3. Went back to the bank for $638,000. <a href="http://www.redfin.com/CA/Irvine/179-Intrigue-92620/home/7210978">Link Here</a>. We often walk past many vacant REO Stonetree Manor homes on the way to the Woodbury town center. It's just a matter of time before more of these REO start poping up.



If someone bids this up they are being foolish considering for $45,000 more you could have bought a true single family home with $123 less HOA <a href="http://www.zillow.com/homedetails/59-Midnight-Sky-Irvine-CA-92620/64772017_zpid/">here.</a> Or <a href="http://www.zillow.com/homedetails/47-Waterspout-Irvine-CA-92620/64900169_zpid/">this other one</a> for $17,000 more.</blockquote>


Another crack in the Woodbury armor--<a href="http://www.redfin.com/CA/Irvine/24-Twin-Gables-92620/home/12253217 ">another REO for a plan 3 Stone Tree</a>. They are asking $699K. These have got to be hurting the comps now. Per Redfin they originally purchased for $1.15M!!! Can't believe these stucco boxes were bought for that kind of coin.



For those who have waited for a Stonetree home you can start smiling now. The REOs are here.</blockquote>
Stonetree was my favorite.

I can't believe they are in the 6's!
 
[quote author="CalGal" date=1239222831][quote author="IACRenter" date=1239219882][quote author="Mcdonna1980" date=1238023645]Stonetree Manor REO just came on the market for $664,900 and it's a plan 3. Went back to the bank for $638,000. <a href="http://www.redfin.com/CA/Irvine/179-Intrigue-92620/home/7210978">Link Here</a>. We often walk past many vacant REO Stonetree Manor homes on the way to the Woodbury town center. It's just a matter of time before more of these REO start poping up.



If someone bids this up they are being foolish considering for $45,000 more you could have bought a true single family home with $123 less HOA <a href="http://www.zillow.com/homedetails/59-Midnight-Sky-Irvine-CA-92620/64772017_zpid/">here.</a> Or <a href="http://www.zillow.com/homedetails/47-Waterspout-Irvine-CA-92620/64900169_zpid/">this other one</a> for $17,000 more.</blockquote>


Another crack in the Woodbury armor--<a href="http://www.redfin.com/CA/Irvine/24-Twin-Gables-92620/home/12253217 ">another REO for a plan 3 Stone Tree</a>. They are asking $699K. These have got to be hurting the comps now. Per Redfin they originally purchased for $1.15M!!! Can't believe these stucco boxes were bought for that kind of coin.



For those who have waited for a Stonetree home you can start smiling now. The REOs are here.</blockquote>
Stonetree was my favorite.

I can't believe they are in the 6's!</blockquote>


Per redfin history, the bank bought it back for $666,000.
 
[quote author="Roo" date=1239229301][quote author="CalGal" date=1239222831][quote author="IACRenter" date=1239219882][quote author="Mcdonna1980" date=1238023645]Stonetree Manor REO just came on the market for $664,900 and it's a plan 3. Went back to the bank for $638,000. <a href="http://www.redfin.com/CA/Irvine/179-Intrigue-92620/home/7210978">Link Here</a>. We often walk past many vacant REO Stonetree Manor homes on the way to the Woodbury town center. It's just a matter of time before more of these REO start poping up.



If someone bids this up they are being foolish considering for $45,000 more you could have bought a true single family home with $123 less HOA <a href="http://www.zillow.com/homedetails/59-Midnight-Sky-Irvine-CA-92620/64772017_zpid/">here.</a> Or <a href="http://www.zillow.com/homedetails/47-Waterspout-Irvine-CA-92620/64900169_zpid/">this other one</a> for $17,000 more.</blockquote>


Another crack in the Woodbury armor--<a href="http://www.redfin.com/CA/Irvine/24-Twin-Gables-92620/home/12253217 ">another REO for a plan 3 Stone Tree</a>. They are asking $699K. These have got to be hurting the comps now. Per Redfin they originally purchased for $1.15M!!! Can't believe these stucco boxes were bought for that kind of coin.



For those who have waited for a Stonetree home you can start smiling now. The REOs are here.</blockquote>
Stonetree was my favorite.

I can't believe they are in the 6's!</blockquote>


Per redfin history, the bank bought it back for $666,000.</blockquote>


Assuming that $1.153M sale price in ?06 is accurate, that?s a crazy decline of $450K in less than 3 years.

Almost hard to believe, wow!
 
[quote author="IACRenter" date=1239219882][quote author="Mcdonna1980" date=1238023645]Stonetree Manor REO just came on the market for $664,900 and it's a plan 3. Went back to the bank for $638,000. <a href="http://www.redfin.com/CA/Irvine/179-Intrigue-92620/home/7210978">Link Here</a>. We often walk past many vacant REO Stonetree Manor homes on the way to the Woodbury town center. It's just a matter of time before more of these REO start poping up.



If someone bids this up they are being foolish considering for $45,000 more you could have bought a true single family home with $123 less HOA <a href="http://www.zillow.com/homedetails/59-Midnight-Sky-Irvine-CA-92620/64772017_zpid/">here.</a> Or <a href="http://www.zillow.com/homedetails/47-Waterspout-Irvine-CA-92620/64900169_zpid/">this other one</a> for $17,000 more.</blockquote>


Another crack in the Woodbury armor--<a href="http://www.redfin.com/CA/Irvine/24-Twin-Gables-92620/home/12253217 ">another REO for a plan 3 Stone Tree</a>. They are asking $699K. These have got to be hurting the comps now. Per Redfin they originally purchased for $1.15M!!! Can't believe these stucco boxes were bought for that kind of coin.



For those who have waited for a Stonetree home you can start smiling now. The REOs are here.</blockquote>


That one looks nice...especially being detached. Drop another 100k and i'd be tempted to bite :)
 
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