I am always amazed at the asking prices in Turtle Ridge. There are REOs and defaults everywhere and prices rolling back under $1,000,000 on high end properties, and yet there are owners like today’s who think their properties have appreciated 40% since they bought at the peak in 2006. WTF?
Asking Price: $2,688,000
Address: 28 Woods Trail, Irvine, CA 92603
BTW, Kelli Hart has an interesting post at South Coast Homes on the house in San Clemente falling off a cliff, and Matt Padilla has a great post on the impact of HELOC abuse on the foreclosure market. Check them out.
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Prices are still falling, and wise owners with equity are getting out while there is still some bubble equity left. There are not many of these people, but their movement against the masses of the kool aid intoxicated will give them greater profits than those that “wait and see.”
Asking Price: $299,567
Address: 119 Fallingstar, Irvine, CA 92614
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One advantage of a big house is entertaining guests in a fancy ballroom. When buyers wonder why the asking price is so high, owners can say, “because I have big balls.”
Asking Price: $1,998,518
Address: 5 New Dawn, Irvine, CA 92620
BTW, if you want to see some of the biggest balls in Orange County, check out the new Coto Housing Blog, and check out this HELOC abuse case in San Clemente.
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Turtle Ridge is the only place in America where people actually believe their properties have appreciated 60% since late 2004. The sun is shining on Shady Lane.
Asking Price: $2,200,000
Address: 27 Shady Lane, Irvine, CA 92603
My guest blogging at Irvine Homes continues with Irvine neighborhood profile: University Park.
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In a competitive society like ours, there are winners and losers. The people who bought before the bubble, did not HELOC their home, and are selling in time to cash in that bubble equity are the winners. Let’s celebrate them today.
Asking Price: $747,500
Address: 14811 Mayten Ave, Irvine, CA 92606
BTW, I am guest contributing to the Irvine Homes blog this week. Today’s post is a community profile on Woodbridge.
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When the market turned in the summer of 2006, Columbus Grove dropped precipitously. The owner of today’s featured property missed that memo.
Asking Price: $1,249,000
Address: 14 Desert Willow, Irvine, CA 92606
BTW, the IHB is mentioned in Huntington Homes today. Surf City home-equity ‘abuse’: ‘So many you can’t believe it’
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Where did you spend the eve of the Millennium? I proposed to my wife on December 31, 1999, in today’s featured property.
Asking Price: $815,000
Address: 6 Rocky Knoll St #3, Irvine, CA 92612
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