Irvine Housing Forums

Ladera Ranch article in OCR

2008-12-04T08:56:01Z

In yet another episode of “Real Idiots Of OC Home Buying”.... OC Register

Is Talega near bottom?

2008-12-02T20:23:56Z

I’ve been monitoring the sales at Talega and it seems like prices are holding steady at about $220 PSF. Has this community bottomed early than the rest of Orange County due to all the foreclourses and short sales?

Real Housewives of OC update

2008-11-10T16:01:31Z

awgee

You may get a hot new neighbor in Coto.

The times are a changing as Bob Dylan said.

Good Luck!

Huntington Harbor Flip

2008-12-04T13:19:29Z

http://www.redfin.com/CA/Huntington-Beach/16533-Harbour-Ln-92649/unit-22/home/5284099

16533 Harbour Ln #22
Huntington Beach, CA 92649

Beds: 4
Baths: 3
Year Built: 1968
On Redfin: 70 days
Sq.Ft.: 2,055
$/Sq.Ft.: $657
MLS#: S548761
Status: Active
Last Sale: $995,000 (04/20/2007)
Listing: First Team Real Estate

+35% in 1.5 years of a declining market? I don’t care if they did a complete remodel, this is insane to me.

Bloodbath in Coto de Caza

2008-01-21T11:07:16Z

I know this property isn’t in Irvine, but check out the bloodbath here in Coto De Caza. 6 TAIGA STREET, Coto De Caza, CA 92679

From ZipRealty:

Price Reduced: 01/10/07—$2,800,000 to $2,799,999

Price Reduced: 04/26/07—$2,799,999 to $2,799,000

Price Reduced: 06/27/07—$2,799,000 to $2,399,000

Price Reduced: 08/27/07—$2,399,000 to $2,349,000

Price Reduced: 09/26/07—$2,349,000 to $2,299,000

Price Reduced: 12/11/07—$1,999,900 to $1,899,900

Price Reduced: 12/17/07—$1,899,900 to $1,799,900

$1 million drop in 1 year.

Any guesses to why no takers? The house is sandwiched between two other McMansions, from the photos it seems to get barely any natural light. How much does it have to drop for it to be a "reasonable price?"

edit: oops. Sorry, should have posted this in the Losses outside Irvine Thread.

Here’s another in Coto:

12 Bordeaux

Coto De Caza, CA 92679

Listed at $1,999,000.

sales history:

09/19/2005

$2,500,000

23.2%/yr

08/29/2002

$1,321,500

Realtors and the cars that they drive

2008-11-30T19:44:30Z

I went to an open house today in Seacliff (Huntington Beach). The house was circa 1972 and partially remodeled, and delusionally overpriced at 1.55 million for 3,000 sq. feet of paradise. What struck me was not the unappealing home, but that sitting out front was the most obnoxiously flashy 2008 Rolls Royce Phantom, with a “look at me” vanity plate with the Realtards name on it. I didn’t realize it was hers until my way out, which is probably a good thing, because I might have made a rude comment to her. Of course I have read about certain Realtards being driven around in their Maybach, but not in H.B. Any other realtors pimping in $400K rides?

Yorba Linda Vista Verde or Wait???

2008-11-18T21:12:52Z

We have equity in our house and ideally would like to rent it out, at a loss of about $400/month..We are not overly concerned about the loss as we can comfortably afford it plus we can use the tax write-off.

Are we crazy to consider a move to a Yorba Linda (Vista Verde community) at this point? We can get a 3200 foreclosure for about $780k OR pick up a brand new house for about $850k for about 3400 square feet..We can afford the mortgage with a 30 year interest rate so that’s not a problem..Not completely certain we would qualify for the loan though as I am hearing rumors that lenders are requiring at least 25% down payment.. Should we jump on moving or wait??? That’s the million dollar question..And if we do wait, wait for what?? Prices to fall another 10%?? More??

Lake Forest New Home Buyer

2008-11-13T02:37:00Z

Hello IHB readers,

I have turned to this site to seek your infinite wisdom ; )

I’m a 24 year old recent college graduate who works in Mission Viejo and lives with his parents in Lake Forest.

I recently found a property in Lake Forest that is similar to what I’m looking for.

Redfin Link

This is a large single family residence in the South County area for (What appears to me) a fair price. I ran the numbers on the calculator and it gives me a true cost to own of about $2,600 a month. The rental rates on a home of this size in Lake Forest float around this number.

I was thinking of purchasing the home and then having two roomates who would pay rent of $500-$600. I have the 20% down payment saved up. That would leave me with a $1,600 a month true cost to own, which I can definitely handle (I make about $55,000 a year). However, I obviously cannot afford such a home if I were to live alone…

I just wanted your folk’s opinion on A) The House B) The value of me buying a SFR as opposed to a cheaper condo/apartment and C) If you think the home value would drop significantly. While it may be at rental parity, that doesn’t mean it can’t lose another 40K in value…

Thank you for your opinions!

$1.5 - $2 mil === Find me a house in OC

2008-11-09T15:40:34Z

For arguments sake…. let’s say I was going to buy a house now.

Does our house even exist?

Wife and I (no kids) are looking for a house in the 1.5-2mil price range. At least 3 bedrooms, 2500sq ft, (modern design?), back yard big enough for a fire pit, hot tub, BBQ and a couple lounge chairs, 3 car garage.

Easy access to highways, away from direct fire danger, close to shopping/restaurants. Easy beach access/commute. low/no Mello Roos?

View?—Golf course/Hill/Canyon/Lake/Ocean

We have been searching Redfin, and realtor.com and nothing even comes close to what we are looking for…...

———-

Is this house even possible in this price range?

THANKS!!!!

Costa Mesa Flip That House

2007-09-11T06:37:29Z

okay, on Saturday, I saw the TLC prorgam Flip That House, this week’s episode was in Costa Mesa, CA with Danny and Juliette.
That night, I checked Redfin and ZipRealty, and found it on ZipRealty.
In the show, they bought for $635,000. Planned $50K of improvement and spent supposedly $90K. Their RE Agent told them low 900s, so they listed at $899,000 originally. Juliette squealed about the $174,000 of ‘profit’ they were going to make. Note, neither seemed to be a REALTOR or agent, so they would be paying commission.
When I found it on ZipRealty, the price was $824,000 with it being 135 DOMs. Sunday morning on the way to Cappy’s in Newport, we swung in for a drive by, No signs of it being for sale, no RE sign in the yard. Today, the MLS listing is gone.
Does anybody know if it sold? The sales price? I can provide the street address if someone can check the MLS to see if it’s held or supposedly sold.