What’s going into escrow - Irvine and maybe some Tustin too |
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Homeless Newbie
Total Posts: 19
Joined 2008-05-19
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I noticed 83 Talmadge got taken down. Was funny because I know they were trying to rent it out because we went to look at it for a rental @ 3000. But the owners were anal about having dogs in their place. They said that “they have no problem ever renting out this unit and someone will always want it.“ Good thing we weren’t living there when they sold it! |
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McMansion
Total Posts: 1047
Joined 2007-10-02
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ipoplaya - 10 July 2008 03:19 PM tenmagnet - 10 July 2008 02:40 PM
What about the high-end in Northpark?
Ivanhoe got taken down.
After only two days… Can’t wait to see what they took.
I noticed you left that off your site.
Didn’t want to take away from the Casa de Ipo 5 day glory? |
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Custom Estate
Total Posts: 2010
Joined 2007-09-19
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tenmagnet - 11 July 2008 03:05 PM ipoplaya - 10 July 2008 03:19 PM tenmagnet - 10 July 2008 02:40 PM
What about the high-end in Northpark?
Ivanhoe got taken down.
After only two days… Can’t wait to see what they took.
I noticed you left that off your site.
Didn’t want to take away from the Casa de Ipo 5 day glory?
That’s right baby. Need to bask in the afterglow for another week or two until we fall out… |
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McMansion
Total Posts: 1047
Joined 2007-10-02
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ipoplaya - 11 July 2008 04:59 PM
That’s right baby. Need to bask in the afterglow for another week or two until we fall out…
I drove by there and checked it out.
For your sake I hope it closes.
Obviously, I’ve under-estimated you.
How did you manage to subject your wife and kids to live there against their will all those years?
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Custom Estate
Total Posts: 2010
Joined 2007-09-19
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tenmagnet - 14 July 2008 08:01 AM How did you manage to subject your wife and kids to live there against their will all those years?
Cult-like brainwashing tactics and rule by iron fist… |
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McMansion
Total Posts: 1047
Joined 2007-10-02
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ipoplaya - 14 July 2008 08:07 AM tenmagnet - 14 July 2008 08:01 AM How did you manage to subject your wife and kids to live there against their will all those years?
Cult-like brainwashing tactics and rule by iron fist…
For some apparent reason it worked.
I’ll give you that.
I knew things were bleak right after I turned off Jamboree.
Those streets are extremely narrow to begin with; the fact that (Waterman) was lined with cars up and down both sides was scary.
There’s no way UPS delivers there.
One of their trucks would never make it.
Your “street” should be classified as an alley, exactly what it was.
Nice front view btw, neighbors wall straight ahead. |
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Starter Home
Total Posts: 827
Joined 2008-04-06
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tenmagnet - 14 July 2008 08:49 AM ipoplaya - 14 July 2008 08:07 AM tenmagnet - 14 July 2008 08:01 AM How did you manage to subject your wife and kids to live there against their will all those years?
Cult-like brainwashing tactics and rule by iron fist…
For some apparent reason it worked.
I’ll give you that.
I knew things were bleak right after I turned off Jamboree.
Those streets are extremely narrow to begin with; the fact that (Waterman) was lined with cars up and down both sides was scary.
There’s no way UPS delivers there.
One of their trucks would never make it.
Your “street” should be classified as an alley, exactly what it was.
Nice front view btw, neighbors wall straight ahead.
It’s not too late to put your backup offer in, ten. After all, what could be more of an ultimate trophy house than Ipop’s former digs? You’d actually own a piece of history. Still holding out for Northpark, you say? Are you really going to use all those pools or are you just going to pay for them? Also, the cost of staffing those three guard stations, multiplied by 3 shifts, 7 days, 52 weeks has got to be factored in… and in the end, how many people, total, do you think the guards have ever turned away? (alright, OTHER than me?)
I’ve already got the forms filled out for you. Just have the old man initial and sign by the sticky arrows and you’ll get preferential treatment on the wait list. Just like at the clubs. It’s a win-win. |
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Custom Estate
Total Posts: 2497
Joined 2007-01-10
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and in the end, how many people, total, do you think the guards have ever turned away? (alright, OTHER than me?)
Of all the people who don’t know the code words, I’m shocked that it’s you. 
It’s “I’m here for the open house.“ |
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Custom Estate
Total Posts: 2010
Joined 2007-09-19
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30 Montclair in Northpark just closed at $1.29M, only down $200K from peak purchase price of $1.5M. 45 Stowe in WB finally updated with $1.325M purchase price. |
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Custom Estate
Total Posts: 2010
Joined 2007-09-19
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Couple of 6/30 closes just updated in MLS. 41 New Dawn in NW Pointe went for $1.8M, exactly the same value as the previous Aug 2004 purchase…
Prices continue to trend up a bit from the April lows in my search spec.
IPO Shiller [ Edited: 15 July 2008 02:37 PM by ipoplaya ]
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Starter Home
Total Posts: 770
Joined 2008-03-24
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linky broken
btw, have you computed the standard error of your CS calculations?
For my data on CM, the average was 183 last month, +/- 6.
it appears that the variability is higher in your data set. |
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Starter Home
Total Posts: 655
Joined 2007-01-26
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graphrix - 09 July 2008 02:37 PM irvine123 - 01 July 2008 03:11 PM 50 winding way has been on the MLS since last week for $1.22 million.
The listing date for this is 6/17, and it went back to the bank on 6/27. The listing agent is a no name agent with a no name company. They are probably clueless to the fact that the owners changed hands, and the bank is the current owner.
Graphrix, can you tell who is the bag holder for 50 windingway? This house was taken off the MLS again this week. I am not interested in the house, but I am just amazed that how long this home owner has been living there mortgage free, property tax free, and HOA free. Given the time, May be an IndyMac loan? IndyMac Federal bank just announced that they are stopping all foreclosure process for their own loan (not the loan they are servicing). |
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Starter Home
Total Posts: 827
Joined 2008-04-06
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irvine123 - 17 July 2008 07:24 AM graphrix - 09 July 2008 02:37 PM irvine123 - 01 July 2008 03:11 PM 50 winding way has been on the MLS since last week for $1.22 million.
The listing date for this is 6/17, and it went back to the bank on 6/27. The listing agent is a no name agent with a no name company. They are probably clueless to the fact that the owners changed hands, and the bank is the current owner.
Graphrix, can you tell who is the bag holder for 50 windingway? This house was taken off the MLS again this week. I am not interested in the house, but I am just amazed that how long this home owner has been living there mortgage free, property tax free, and HOA free. Given the time, May be an IndyMac loan? IndyMac Federal bank just announced that they are stopping all foreclosure process for their own loan (not the loan they are servicing).
50 Winding Way - 92620
APN - 551-202-09
Sales History:
Recording Date: 07/02/2008
Sale Price: $1,076,882
Buyer Name: Bank Of America
Document Type: Trustee’s Deed |
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McMansion
Total Posts: 1047
Joined 2007-10-02
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IrvineRealtor - 17 July 2008 07:53 AM
50 Winding Way - 92620
APN - 551-202-09
Sales History:
Recording Date: 07/02/2008
Sale Price: $1,076,882
Buyer Name: Bank Of America
Document Type: Trustee’s Deed
What will the bank market it up to?
Or will BOA accept an offer the matches what they paid $1.076M
How does this work? |
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Custom Estate
Total Posts: 2010
Joined 2007-09-19
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Updated a bunch of closing prices…
IPO-Shiller
120 Retreat smells funny. Supposedly closed for $1.31M, but that would be $300K+ less than 2005 price, and things just haven’t rolled that far back. Anyone know anything about this property. I see there are $50K worth of back taxes owed on it. If the new owners had to pay those, that would at least make the price seem more reasonable… |
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Custom Estate
Total Posts: 2010
Joined 2007-09-19
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Monster escrow update… Buyers were busy this week it appears. I added 10+ properties to the list.
IPO’s Site
Added a few more closings as well. Irvine prices appear to still be rooted at summer 2004 equivalents, similar to what they were this past March.
Updated IPO Shiller |
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Starter Home
Total Posts: 770
Joined 2008-03-24
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Wow, Irvine prices really have been sticky.
Costa Mesa has gone from 190 in Feb to 182, 188, 185, 182, and so far july looks to be 179.
the variability also appears to be much higher in Irvine. All the CM numbers are +/-6 or so.
Can you identify pricing trends (ie certain neighborhoods are still in the 230s, versus others in the 170s?) |
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Custom Estate
Total Posts: 2010
Joined 2007-09-19
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freedomCM - 24 July 2008 04:13 PM Wow, Irvine prices really have been sticky.
Costa Mesa has gone from 190 in Feb to 182, 188, 185, 182, and so far july looks to be 179.
the variability also appears to be much higher in Irvine. All the CM numbers are +/-6 or so.
Can you identify pricing trends (ie certain neighborhoods are still in the 230s, versus others in the 170s?)
Too lazy to look at monthly within neighborhoods and the sample size is probably too small for that anyway, but here is median by major area:
Turtle Ridge 250
Northwood II 244
Woodbury 239
Quail Hill 225
Northpark Square 224
NW Pointe 214
Westpark 209
Turtle Rock 207
Old Northwood 207
West Irvine 205
Walnut 205
Northpark 205
Woodbridge 204
VoC 204
Tustin Ranch 194
Strong correlation between age and how well they are retaining value… Buyers are still placing a greater premium on newer construction. VoC bucks this trend. Tustin Ranch is falling faster than its 92602 neighbors, although not by an extreme amount. |
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Starter Home
Total Posts: 533
Joined 2007-01-26
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Thanks for the great info, Ipo. I still can’t believe some of the prices these places are getting. We are particularly shocked by Westpark. My wife and I looked at this place on Calavera when it was first listed a couple of weeks ago—- it would suit us pretty well. But to us the $825k and $400+ sq ft is a total WTF price. Well, here it lands in my inbox this morning as accepting backup offers, after just 14 days. Man, these prices are sticky.
66 Calavera |
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Living with Parents
Total Posts: 75
Joined 2007-12-05
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CK - 25 July 2008 09:30 AM Thanks for the great info, Ipo. I still can’t believe some of the prices these places are getting. We are particularly shocked by Westpark. My wife and I looked at this place on Calavera when it was first listed a couple of weeks ago—- it would suit us pretty well. But to us the $825k and $400+ sq ft is a total WTF price. Well, here it lands in my inbox this morning as accepting backup offers, after just 14 days. Man, these prices are sticky.
66 Calavera
I would wager that 99% of those buyers have never read Roubini’s or CR’s blog. There are many sheep and few shepherds. |
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Custom Estate
Total Posts: 2010
Joined 2007-09-19
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CK - 25 July 2008 09:30 AM Thanks for the great info, Ipo. I still can’t believe some of the prices these places are getting. We are particularly shocked by Westpark. My wife and I looked at this place on Calavera when it was first listed a couple of weeks ago—- it would suit us pretty well. But to us the $825k and $400+ sq ft is a total WTF price. Well, here it lands in my inbox this morning as accepting backup offers, after just 14 days. Man, these prices are sticky.
66 Calavera
That area of Westpark is nice, despite the 80’s Cal Med look, and is holding up very well price-wise. Listing says Woodbridge but doesn’t that house feed Irvine HS?
edit - Just checked the attendance maps. That area is going from Irvine HS to Woodbridge HS beginning this new school year… |
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Condo
Total Posts: 332
Joined 2008-01-31
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ipoplaya - 24 July 2008 04:42 PM
Too lazy to look at monthly within neighborhoods and the sample size is probably too small for that anyway, but here is median by major area:
Turtle Ridge 250
Northwood II 244
Woodbury 239
Quail Hill 225
Northpark Square 224
NW Pointe 214
Westpark 209
Turtle Rock 207
Old Northwood 207
West Irvine 205
Walnut 205
Northpark 205
Woodbridge 204
VoC 204
Tustin Ranch 194
Strong correlation between age and how well they are retaining value… Buyers are still placing a greater premium on newer construction. VoC bucks this trend. Tustin Ranch is falling faster than its 92602 neighbors, although not by an extreme amount.
Don’t see Oak Creek in there. Any guesses to where it would slot in? |
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Homeless Newbie
Total Posts: 20
Joined 2008-03-19
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One thing that may be underestimated in this price situation is the endogentity (sp) of prices. In other words, there’s a ratio of price to income that we are assuming is normal. It’s entirely possible that the income part of the equation is changing as much as the price part. The people buying these homes probably have higher than the median income and thus, the median income of Irvine will rise, the median price will fall but it will end up the price decline will be much less than people think. I have no idea if that’s true or not, but it does seem that way.
With that said, I don’t know what the median ‘price’ is right now, but my guess is it’s still about 20% too high at a minimum. |
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Condo
Total Posts: 276
Joined 2007-10-16
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CK - 25 July 2008 09:30 AM Thanks for the great info, Ipo. I still can’t believe some of the prices these places are getting. We are particularly shocked by Westpark. My wife and I looked at this place on Calavera when it was first listed a couple of weeks ago—- it would suit us pretty well. But to us the $825k and $400+ sq ft is a total WTF price. Well, here it lands in my inbox this morning as accepting backup offers, after just 14 days. Man, these prices are sticky.
66 Calavera
Calavera is skull in Spanish. Creepy name for a street. Good stuff on Halloween though. |
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Custom Estate
Total Posts: 2010
Joined 2007-09-19
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25w100k+ - 25 July 2008 10:19 AM ipoplaya - 24 July 2008 04:42 PM
Too lazy to look at monthly within neighborhoods and the sample size is probably too small for that anyway, but here is median by major area:
Turtle Ridge 250
Northwood II 244
Woodbury 239
Quail Hill 225
Northpark Square 224
NW Pointe 214
Westpark 209
Turtle Rock 207
Old Northwood 207
West Irvine 205
Walnut 205
Northpark 205
Woodbridge 204
VoC 204
Tustin Ranch 194
Strong correlation between age and how well they are retaining value… Buyers are still placing a greater premium on newer construction. VoC bucks this trend. Tustin Ranch is falling faster than its 92602 neighbors, although not by an extreme amount.
Don’t see Oak Creek in there. Any guesses to where it would slot in?
The transaction population I have for Oak Creek is rather small, so I don’t know if the value would be terribly useful. It comes in at 217… There are a lot of sub 2000sf places in Oak Creek, which I don’t track, so I don’t think my data captures that area very well. While it was built at the same time as West Irvine, my sense is that its holding up a bit better in terms of pricing… |
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