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Latest REOs
- $199,900 :: 3125 Watermarke Pl, Irvine CA, 92612
- $349,900 :: 10 Greenleaf 16, Irvine CA, 92604
- $439,900 :: 61 Olivehurst, Irvine CA, 92602
- $889,900 :: 14 Upland, Irvine CA, 92602
- $429,900 :: 56 Great Lawn, Irvine CA, 92620
- $465,000 :: 212 Garden Gate Ln, Irvine CA, 92620
- $329,000 :: 1006 Terra Bella, Irvine CA, 92602
- $579,900 :: 8 Star Thistle, Irvine CA, 92604
- $398,900 :: 191 Lockford, Irvine CA, 92602
- $750,000 :: 69 Lakeview 6, Irvine CA, 92604
$389 a square foot? It doesn’t even have a backyard to bury the extra $300,000.
I’m sure everyone is celebrating T-giving, so no comments at this point. Since I’m in Europe I still have to work today so I’ll start it off…
How much for a one-bedroom condo!?!? Even at it’s “reduced” price, it’s still WTF pricing.
I wonder how you get to the place where you say - OK, I’ll spend almost 500K on a ONE-BDRM CONDO!!
Sure the payments must have been low, but at some point there is that loan balance you need to pay off.
Unless the plan was to pay low, low monthly payments and then default when the rate resets. Does anyone actually plan to do that?
The plan for most of these people was to continually refinance from one loan into another and maintain the low teaser rate until they sell the property for a huge profit. Serial refinancing doesn’t seem to be working out too well for most borrowers.
Someone paid $445K for a one bed one bath place. Wow.
I mentioned this area to my brother, a contractor who’s done a lot of work in the Newport Beach area—renovations on older homes, mostly. When I brought up Quail Hill and Turtle Ridge, he snorted, “Oh, the million-dollar Cabrini Green!”
And so, despite the lovely fixtures, I can’t see this condo as anything but a high-priced efficiency unit in an Irvine yuppie ghetto. Minus, for the moment, the crime, graffiti, and gang life.
Happy Thanksgiving, IR! I am thankful for IHB. Cheers.