What’s going into escrow - Irvine and maybe some Tustin too |
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Custom Estate
Total Posts: 2021
Joined 2007-09-19
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graphrix - 25 August 2008 04:50 PM Heh, it’s funny how 56 Calavera went into escrow two days before it was scheduled for the auction. At $899k it is a short sale since the NTS is $950k. I wonder if we have a new phenomenon going on here called straw escrowers?
Anything to keep milking the free housing cow right?!
I’m exhausted from a massive escrow update. I think I added 25 new properties today… There won’t be any houses left to sell in Irvine if this keeps up. Inventory at almost sub 800 level and oodles still going contract. |
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Custom Estate
Total Posts: 2021
Joined 2007-09-19
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63 Sanctuary, 3500sf Mille Fleur in WB, appears to have closed for $1.19M last week. I can’t tell how much it cost the owners originally though so no idea how deep a rollback that one is…
Also 23 Stowe in WB closed for $1.376M. [ Edited: 25 August 2008 05:32 PM by ipoplaya ]
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Homeless Newbie
Total Posts: 18
Joined 2008-08-25
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ipoplaya - 25 August 2008 05:27 PM 63 Sanctuary, 3500sf Mille Fleur in WB, appears to have closed for $1.19M last week. I can’t tell how much it cost the owners originally though so no idea how deep a rollback that one is…
Also 23 Stowe in WB closed for $1.376M.
The only prior sale I see for 63 Sanctuary is the builder’s original sale in March 2006 for $1.387M ($1,109,250 first/$277,300 second, $450/down). Went back to the bank on 6/12/2008 for $1,052,625. I don’t see any MEW or other shennanigans. I’ll leave the ‘rollback’ calculations to you.
Been following your numbers/commentary for quite a while, Ipop—thanks for all your hard work and insight. |
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Living with Parents
Total Posts: 58
Joined 2008-05-13
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ipoplaya - 25 August 2008 05:21 PM graphrix - 25 August 2008 04:50 PM Heh, it’s funny how 56 Calavera went into escrow two days before it was scheduled for the auction. At $899k it is a short sale since the NTS is $950k. I wonder if we have a new phenomenon going on here called straw escrowers?
Anything to keep milking the free housing cow right?!
I’m exhausted from a massive escrow update. I think I added 25 new properties today… There won’t be any houses left to sell in Irvine if this keeps up. Inventory at almost sub 800 level and oodles still going contract.
I can’t believe how many houses went into escrow. WOW! I hope 90% of them fall out… |
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Condo
Total Posts: 349
Joined 2008-04-26
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I hope the world ends with a big gigantic meteor, too… |
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Custom Estate
Total Posts: 2021
Joined 2007-09-19
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Looks like August’s closing prices are going to come in pretty much flat with July’s for Irvine…
IPO Shiller |
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Starter Home
Total Posts: 776
Joined 2008-03-24
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wow, really ugly color!
I still see a whole lot more variation in your numbers for Irvine than mine for CM. There are a lot of sales above 230 in yours, as well as some low ones. My numbers for CM are much more tightly clustered around CS180 (+/- 5) last month.
Thanks for the update |
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Custom Estate
Total Posts: 2021
Joined 2007-09-19
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50 Summer House in Turtle Ridge closed recently. Sold for $1.895M. Bought in 2004 for $1.486M.
Yes, you read that correctly, sold for $400K more than 2004 purchase price!
Updated IPO Shiller [ Edited: 03 September 2008 12:52 PM by ipoplaya ]
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Custom Estate
Total Posts: 2021
Joined 2007-09-19
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Lots of closings the last week or so. September is starting out promising in terms of lower prices / deeper rollbacks…
This market chaser in QH recently got into escrow. |
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Condo
Total Posts: 417
Joined 2008-08-18
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50 Summer House in Turtle Ridge closed recently. Sold for $1.895M. Bought in 2004 for $1.486M.
Yes, you read that correctly, sold for $400K more than 2004 purchase price!
It’s anomally,Amberhill was selling for about $1.9M in Dec 2003 and it only has a few houses left. |
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Custom Estate
Total Posts: 2021
Joined 2007-09-19
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Amazing the diff between TRidge and Tustin Field. Just got report on a close there, 1470 Voyager, which went for $901K. Still way too high IMO, but it was $400K, or almost 31% off its peak price, which was $1.30M in Aug 2006… |
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Living with Parents
Total Posts: 58
Joined 2008-05-13
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tenmagnet - 21 April 2008 09:58 AM
Ipop,
We’re not talking about 21 Upland.
We’re discussing Mar Vista.
If it wasn’t all that, then it certainly would’ve languished on the market longer, wouldn’t you agree?
The fact remains it was taken down fast, inferior location or otherwise.
Regarding, Upland, if that seller weren’t so stubborn and cut the price it would move.
Looks like this ‘trophy’ house is back on the market. I think it’s worth only $850k [ Edited: 06 September 2008 10:28 PM by cantaloop ]
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Custom Estate
Total Posts: 2021
Joined 2007-09-19
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cantaloop - 06 September 2008 10:04 PM tenmagnet - 21 April 2008 09:58 AM
Ipop,
We’re not talking about 21 Upland.
We’re discussing Mar Vista.
If it wasn’t all that, then it certainly would’ve languished on the market longer, wouldn’t you agree?
The fact remains it was taken down fast, inferior location or otherwise.
Regarding, Upland, if that seller weren’t so stubborn and cut the price it would move.
Looks like this ‘trophy’ house is back on the market. I think it’s worth only $850k
Ten’s fave French chateau, 14 Mar Vista, is back in escrow now… |
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Custom Estate
Total Posts: 3350
Joined 2007-04-22
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This is the thread of all threads Ipop ! You have 46663 page views so far ! Congrats ! |
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Custom Estate
Total Posts: 2021
Joined 2007-09-19
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Had a good number of closes in Irvine and Tustin lately… September prices are tracking right with July and August’s, i.e. they are pretty much flat as expected.
Updated IPO Shiller |
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Condo
Total Posts: 417
Joined 2008-08-18
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11 Santa Rida dropped nearly $500K, from $1300K to $855K - BIG OUCH!!!!! |
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Condo
Total Posts: 312
Joined 2007-12-03
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I regularly search for lowest-priced 4bdr SFRs in Irvine, and was stunned to find that somebody is snatching up these properties, 4 of these are currently in escrow. I guess I was just surprised to find while scrolling down my search results “Backup offers” 4 times in a row, something I haven’t seen in a long time…
————————————————————————————————————————
MLS#: S543566 $574,900
3662 Bates St
Irvine, CA 92614
4 Bedrooms / 2 Baths
1650 SF (approx)
More Details…Virtual Tour…
(10 of 305 listings)
Status:Backup Offers
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MLS#: S531617 $575,000
7 Skipper
Irvine, CA 92604
4 Bedrooms / 3 Baths
2000 SF (approx)
More Details…Virtual Tour…
(11 of 305 listings)
Status:Backup Offers
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MLS#: S528724 $597,500 Recently Updated!
3671 Claremont St
Irvine, CA 92614
5 Bedrooms / 3 Baths
2533 SF (approx)
More Details…
(12 of 305 listings)
Status:Backup Offers
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MLS#: S544309 $599,000
23 Muir
Irvine, CA 92620
4 Bedrooms / 3 Baths
2109 SF (approx)
More Details…
(13 of 305 listings)
Status:Backup Offers |
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Custom Estate
Total Posts: 2021
Joined 2007-09-19
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Guess not too many people are watching the news lately, or maybe, they just don’t care…
I have 14 Irvine properties going into escrow over the past two days.
Updated Irvine escrow list |
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Condo
Total Posts: 312
Joined 2007-12-03
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well, hey the more the merrier, maybe I’ll be buying that same property this summer on short sale from them  |
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Condo
Total Posts: 417
Joined 2008-08-18
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A lot of young people in my office are buying property eventhough they claim they can’t afford to live there by themselves. Some are getting renters. Some are buying and rent it out. I think some even afraid they will be priced out forever. Some of these people I have warned not to buy but went ahead and now are $200-$300k off. |
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Condo
Total Posts: 379
Joined 2008-03-26
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what do you mean off 200-300k? like underwater?
awww 3141 Michelson #807 fell out of escrow. I wanted to see what price it actually closed at. I think that one sold at first for at least a million and now list price is 475k
But luckily 3131 Michelson #1002 came in, so I’ll keep my eye on that one now.
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Starter Home
Total Posts: 633
Joined 2008-05-14
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Well, something the only way for someone to learn is let them make the mistake. What can you say? |
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Condo
Total Posts: 417
Joined 2008-08-18
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24inIrvine - 26 September 2008 07:52 PM what do you mean off 200-300k? like underwater?
awww 3141 Michelson #807 fell out of escrow. I wanted to see what price it actually closed at. I think that one sold at first for at least a million and now list price is 475k
But luckily 3131 Michelson #1002 came in, so I’ll keep my eye on that one now.
Yes, underwater. They bought a place from University Park for $700K+ and now the place is only selling $500K+. |
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Condo
Total Posts: 280
Joined 2007-07-23
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quick question IPO, what is the difference between “pending sale” and “in escrow” on your website? |
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Custom Estate
Total Posts: 2021
Joined 2007-09-19
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fumbling - 27 September 2008 09:12 AM quick question IPO, what is the difference between “pending sale” and “in escrow” on your website?
My statuses mirror MLS status changes. Pending sale status in MLS typically means that all contingencies have been removed by the buyer and that the transaction is likely to close as the deposit money would likely be forefeited otherwise. |
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