Buy 1 bedroom and get a second for free (or almost)!

Would you buy this 1bd/1ba 1001 sq ft condo in the Collage tract built by D R Horton in Northpark for $499,900

Address: 100 Timberwood, Irvine, CA 92620 (Northwood)

Plan: 1001 sq ft – 1/1

MLS: S445813 DOM: 109

Sale History: 06/28/2001: $198,500

Current Price: $499,900

…when you could buy a 2bd/2.5ba 1400 sq ft in the SAME tract for the SAME price at 714 Timberwood?

Not interested?? Well what about this 1bd/1ba 822 sq ft condo (first spotted here) built by Shea Homes in the Ashton Green tract in Turtle Ridge for $599,000

Address: 214 Coral Rose, Irvine, CA 92603 (Turtle Ridge)

Plan: 822 sq ft – 1/1

MLS: U6602927 DOM: 24

Sale History: 12/18/2003: $310,500

Current Price: $599,000

100 Timberwood - Front

…when you could get a 2bd/2.5ba 1155 sq ft in the SAME tract for only $20,000 more at 235 Danbrook?

Are the sellers of these 1 bedroom units completely oblivious to what the market is like? What are their listing agents saying to them?

7 thoughts on “Buy 1 bedroom and get a second for free (or almost)!

  1. Anony

    that’s hilarious. they’re so screwed. bubble market or not, those sellers just have LAZY agents.

  2. Irvine Realtor

    We bought a plan 1 from DR Horton @ $171K, and sold it 2 years later for $260K. We thought, at the time, no one would pay more than that for a one bedroom. The market has gone crazy, but I think what we thought is still good today. Prices will come down. I almost feel sorry for anyone that paid over $260K for that one bedroom….I should have held on to that condo two more years…lol.

    I really feel sorry for the person that just bought the plan 7 for $750K. Brand new, that condo only cost $250K. A half-mil more 5 years later….that’s just crazy.

  3. Irvine_native

    This stuff just doesn’t make sense. It will be interesting to see how these play out. Great finds btw, keep it up!

  4. NanoWest

    It looks like the price correction in Irvine is starting in the higher price homes and working down. The funny thing is that so many people actually believe that their property is worth what a RE agent says……ha ha ha.

  5. oc_fliptrack

    I’m still amazed at what one bedroom rentals can command. The second bedroom is only $400-600 more.

    I think there are a lot of childless single professionals around who are sick of having roommates.

  6. William E. Jones

    Here in Pasadena (L.A. County) there’s an interesting situation where Hovnanian Homes built a VERY high end condo complex. The complex features a lot of ONE BEDROOM condos with asking prices of $500K and up. Sales have been painfully slow, to say the least. For a two bedroom condo I suppose $500K is possible, but not for a one bedroom condo. I still can’t figure out why they built so many one bedroom condos at a high price.

    Anyone who wants to can check it out – it’s called the Prado on Lake Avenuue.

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