What I want, I want now
And it’s a whole lot more, anyhow
I wanna climb a mountain
I wanna jump, jump, jump, jump a mountain
I understand all destructive urges
It’s seems so perfect
I see, I see no evil
See No Evil — REM
Link to Music Video
What do you do when the property across the street destroys the comps? Ignore it. Pretend it never happened. See no evil…
Asking Price: $1,299,900
Income Requirement: $324,975
Downpayment Needed: $259,980
Bank Purchase Price: $1,149,500
Bank Purchase Date: 7/24/2007
FB Purchase Price: $1,400,000
FB Purchase Date: 6/15/2006
Address: 5 Roseleaf, Irvine, CA 92620
Beds: 5
Baths: 3.5
Sq. Ft.: 3,300
$/Sq. Ft.: $394
Lot Size: 7,200 sq. ft.
Type: Single Family Residence
Style: Mediterranean
Year Built: 1999
Stories: Two Levels
View(s): Hills, Trees/Woods
Area: Northwood
County: Orange
MLS#: S505342
Status: Active
On Redfin: 18 days
From Redfin, “Magnificent home in exclusive gated community of Sommerton. Beautiful valley and hills views!!! Big kitchen, high ceilings, open, spacious floorplan. Dramatic entry, wide stairway, upgraded flooring & moldings. Downstairs bedroom. New kitchen appliances will be installed this week. Great location! Quiet, peaceful, culdesac! Private access to hiking trail.”
The exclamation points are back!!!
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Check out the $250,000 loss someone (probably the bank) took on this property. Unfortunately, it looks as if our next seller used the previous, peak-purchase price as their comp to set their wishing price. It certainly looks like they are ignoring the REO as an aberration. Reality is the REO was reflective of the market. It might even be lower…
Asking Price: $1,550,000
Income Requirement: $387,500
Downpayment Needed: $310,000
Purchase Price: $1,263,500
Purchase Date: 12/30/2004
Address: 10 Roseleaf, Irvine, CA 92620
Beds: 5
Baths: 4
Sq. Ft.: 3,700
$/Sq. Ft.: $419
Lot Size: 8,000 sq. ft.
Type: Single Family Residence
Style: Mediterranean
Year Built: 1999
Stories: Two Levels
Area: Northwood
County: Orange
MLS#: P599657
Status: Active
On Redfin: 20 days
From Redfin, “Exclusive Standard Pacific Somerton Estate, 4BR+Huge Bonus Room, Main Floor BR with Bath Spacious Driveway, Pool Sized Lot, Marble and Hardwood Floor, Granite Counter Top, Plantation Shutters, Master BR with Jacuzzi Tub, Cast Iron Stairs Railing, Close to Hiking Trails and Award Winning Schools, Great Cul-de-Sec Location, Price to Sell-Recently Reduced”
Why Is This Written In Title Case?
Price to Sell-Recently Reduced? LOL
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The other day, I asked, “Is fear gripping the market?” This seller is not afraid and is clearly still in denial.
