From all of us at the Irvine Housing Blog, we want to wish all of you happy holidays.
So this is Christmas And what have you done Another year over And a new one just begun Ans so this is Christmas I hope you have fun The near and the dear one The old and the young
A very merry Christmas And a happy New Year Let’s hope it’s a good one Without any fear And so this is Christmas For weak and for strong For rich and the poor ones The world is so wrong And so happy Christmas For black and for white For yellow and red ones Let’s stop all the fight A very merry Christmas And a happy New Year Let’s hope it’s a good one Without any fear
For those of you taking a break from your Christmas activities to surf the web, I thought I would share with you a listing with a few strange listing photos.
One of the best plan 2 in Centennial Tract by California Pacific Homes
to come on the market. A True Turnkey 4 Bedroom charmer! Relocation
forces this Pride of Ownership to come on the market. Located in one of
the premium inside street on an oversized lot. Entertainer’s delight
backyard w/extensive stamped concrete & matured tropical trees.
This desirable and popular floorplan features: Formal Living &
Dining Room, a separate Family Room w/cozy stone fireplace adjacent to
family kitchen. Hardwood Floors throughout downstairs, designer custom
paint, custom baseboards, upgraded recessed lightings, extra storage
under the stair case & ceiling fans in all bedrooms. Private Gated
Community with own private central park, Sport Court, Jr. Olympic Pool
& Tot Lot & Family Oriented activities. Centrally located in
the #1 Safest City of Irvine, close to Fwys, award winning schools
& awesome shops. Don’t miss this one!
This elegant seven bedroom, seven and three half-bath custom residence
was inspired by the famed La Suvera estate in Tuscany. Like its
namesake, this gracious home enjoys pastoral views – in this case, the
gently rolling hills of Shady Canyon . From the moment you enter the
residence through the lovely formal front pavilion you are surrounded
by the highest quality craftsmanship, materials and amenities, all
working together to create an atmosphere of casual elegance. In
addition to the spacious master and guest suites – all with ensuite
baths – revel in large public rooms including living and dining rooms,
gourmet kitchen and great room, large downstairs game room and theater
and a formal library parlor. Other amenities include a wine cellar with
adjacent wine dining room and both subterranean and above grade parking
for a total of four vehicles. Lovely landscaped grounds envelop the
residence and include a pool, spa and pool cabana.
Nice place, but it is a bit too much like a castle to me. It doesn’t feel very cozy. To each his own…
{book}
‘Twas the night before Christmas, when all through the house
Not a creature was stirring, not even a mouse;
The stockings were hung by the chimney with care,
In hopes that St. Nicholas soon would be there;
The children were nestled all snug in their beds,
While visions of sugar-plums danced in their heads;
And mamma in her ‘kerchief, and I in my cap,
Had just settled down for a long winter’s nap,
When out on the lawn there arose such a clatter,
I sprang from the bed to see what was the matter.
Away to the window I flew like a flash,
Tore open the shutters and threw up the sash.
The moon on the breast of the new-fallen snow
Gave the lustre of mid-day to objects below,
When, what to my wondering eyes should appear,
But a miniature sleigh, and eight tiny reindeer,
With a little old driver, so lively and quick,
I knew in a moment it must be St. Nick.
More rapid than eagles his coursers they came,
And he whistled, and shouted, and called them by name;
“Now, Dasher! now, Dancer! now, Prancer and Vixen!
On, Comet! on Cupid! on, Donder and Blitzen!
To the top of the porch! to the top of the wall!
Now dash away! dash away! dash away all!”
As dry leaves that before the wild hurricane fly,
When they meet with an obstacle, mount to the sky,
So up to the house-top the coursers they flew,
With the sleigh full of toys, and St. Nicholas too.
And then, in a twinkling, I heard on the roof
The prancing and pawing of each little hoof.
As I drew in my hand, and was turning around,
Down the chimney St. Nicholas came with a bound.
He was dressed all in fur, from his head to his foot,
And his clothes were all tarnished with ashes and soot;
A bundle of toys he had flung on his back,
And he looked like a peddler just opening his pack.
His eyes — how they twinkled! his dimples how merry!
His cheeks were like roses, his nose like a cherry!
His droll little mouth was drawn up like a bow,
And the beard of his chin was as white as the snow;
The stump of a pipe he held tight in his teeth,
And the smoke it encircled his head like a wreath;
He had a broad face and a little round belly,
That shook, when he laughed like a bowlful of jelly.
He was chubby and plump, a right jolly old elf,
And I laughed when I saw him, in spite of myself;
A wink of his eye and a twist of his head,
Soon gave me to know I had nothing to dread;
He spoke not a word, but went straight to his work,
And filled all the stockings; then turned with a jerk,
And laying his finger aside of his nose,
And giving a nod, up the chimney he rose;
He sprang to his sleigh, to his team gave a whistle,
And away they all flew like the down of a thistle.
But I heard him exclaim, ere he drove out of sight,
“Happy Christmas to all, and to all a good-night.”
How many times must a man look up Before he can see the sky?
How many days must a property be on the market before an owner realizes he has priced it too high? Usually after 60-90 days a realtor will sit down with an owner and have the “your property is overpriced” discussion. What discussion do you have after 180 days? or 1 year? And what discussion do you have after 1000 days?
I have never seen a property stay on the market for over 1000 days. It is pretty rare to see one on the market for over a year. Are there people out there who just list their house for a vanity price and keep it perpetually for sale? I suppose you see some of that on Zillow with the “make me move” listings, but it isn’t common on the MLS. Is there a limit to how long a property can be for sale?
How many years can a mountain exist Before its washed to the sea?
Today’s featured property has been profiled before. Back on May 25, 2007, this property had already been on the market for 437 days. I would see it now and again when scanning for properties on Redfin, and I was always amazed that it was still on the market.
Elegent remodeled home with new landscape situated on a cul-de-sac in
the Paseo West Park. Designed for intimate living.Approximately
3,450-sq-ft. The residence inclusive of 5 bedrooms, and 4 bath. Gourmet
center island ktchen with top-of-the-line appliences opens to family
room.This home features beutiful travertine flooring throughout the
first floor, granite countertops, entertainer’s delight custom built-in
bar.Outside, entertain poolside on the patio area as well as built-in
BBQ center.
Unsold in 90+ days… LOL!
Elegent? ktchen? appliences? beutiful? Four misspellings in 71 words.
Notice the monthly equity burn calculation says this property is losing almost $10,000 a month in value. It was originally listed for $1,595,876 back in 2006. In 34 months, the listing price has come down $400,020. That is $11,765 per month in fantasy equity loss.
This property was purchased for $635,000 on 2/19/2004. The owner used a $499,999 first mortgage, a $60,000 second mortgage, and a $75,001 downpayment. On 1/9/2006 he refinanced with a $747,500 first mortgage taking out his downpayment plus more than $100,000 in free money. Shortly thereafter he put it for sale to make the extra $850,000 he is entitled to.
If this house sells for its asking price, and if a 6% commission is paid, the owner stands to make $489,104. Given that most people have been losing money on their 2004 purchases, it doesn’t seem likely that this owner will get that much. What do you think he will be asking for it next year?
{book}
How many roads must a man walk down Before you call him a man? Yes, n how many seas must a white dove sail Before she sleeps in the sand? Yes, n how many times must the cannon balls fly Before theyre forever banned? The answer, my friend, is blowin in the wind, The answer is blowin in the wind.
How many times must a man look up Before he can see the sky? Yes, n how many ears must one man have Before he can hear people cry? Yes, n how many deaths will it take till he knows That too many people have died? The answer, my friend, is blowin in the wind, The answer is blowin in the wind.
How many years can a mountain exist Before its washed to the sea? Yes, n how many years can some people exist Before theyre allowed to be free? Yes, n how many times can a man turn his head, Pretending he just doesnt see? The answer, my friend, is blowin in the wind, The answer is blowin in the wind.
Fill my eyes with that double vision No disguise for that double vision
What is the premium for a detached product? There certainly is one. I would pay more for a similar product that does not have a shared wall, and so would most buyers. You have a greater sense of privacy with a detached unit, there is less noise, and there is something about being able to clearly identify a specific object as
“mine,” that you cannot obtain from an attached condo. Intellectually,
you might know there are property lines at the walls, but when you look
at an attached condo, you see one massive building you only own a part
of. It is not as emotionally satisfying. The question is how much is this premium?
Someone could probably do a study of the property records and come up with some aggregate estimate. I imagine it would be something like 10%-20%, but I have no data. An internet search brings up a number of studies in the UK housing market, but I found nothing referencing the United States. Whatever the actual number is, I suspect it is far less than 100%. Today we have two featured properties in Westpark. One is a 2/2 attached short sale being offered for $299,900, and the other is a 2/2 detached being offered for $599,999. Do you think the seller of this second property has any chance of selling it? I don’t.
Quiet & Private Interior Location. Upgraded Townhome Featuring
Vaulted Ceilings, Distressed Like Hard Wood Flooring, Tile Kitchen
Counters, Stainles Steel Microwave & ishwasher, Full size Washer
And Dryer Included, Mirrored Wardrobes, Closet Organizers, Loft,
Fireplace in The Living Room, Main Floor Bedroom & Bathroom.
A quiet and private apartment? This is an apartment despite the fact you can own it.
Why Title Case?
Stainles? ishwasher?
There is nothing desirable about this unit, which is why the $500,000 purchase price in 2006 is so amazing. I would ask WTF the owner was thinking, but I think we all know. The owners used 100% financing, so they really didn’t care. This property was rather unique in that the first mortgage was an Option ARM for 100% of the purchase price. There is no second mortgage, and there is, of course, no downpayment.
If this property sells for its asking price, First Guaranty Financial Corporation stands to lose $218.094 after a 6% commission.
This property is being offered for 40% off its peak purchase price.
I have to imagine the owner of today’s second featured property is hoping this isn’t considered a comparable sale.
This is the nicest sngle story house on the market. Huge Interior lot
location with a private yard and extensive use of hardscaping and lush
shrubs and large custom fountain. Tile floors in the living,dining, and
kitchen. Plush neutral carpet in the den. Gourmet kitchen. Vauleted
high ceilings. Motivated to sell this beautiful home!!!
This description is embarrassing on multiple levels:
Feeling down ‘n’ dirty, feeling kinda mean
sngle? Vauleted?
Gourmet Kitchen? Have these people no shame? That is a crappy apartment kitchen. The tile and cabinets look like original installations in the 1980s. I can’t believe they would even mention the kitchen much less tout it as gourmet.
Vauleted
high ceilings? First, I assume the realtor meant vaulted. Second, is there a vaulted low ceiling? I suppose beneath a staircase…
What is the deal with the $599,999 price? Perhaps the listing also has the $0.99 and 9/10 cents like a gas station. Nothing screams “greedy” like a listing price with $999 on the end of it. A $1,000 discount on a $600,000 property is a 0.16%. The fact that the owner is not even willing to lower price $1,000 and offer a 0.16% discount to break below $600,000 says she plans to make every possible penny off this transaction.
No disguise for that double vision
Motivated? judging by the WTF asking price, the owner is only motivated to make a huge profit.
No listing would be complete without three exclamation points.
This property was purchased on $279,000 on 3/19/1999. The owner used a $251,000 first mortgage and a $28,000 downpayment. On 6/7/2002 she refinanced for $256,500, and on 1/5/2004 she opened a HELOC for $75,000. A relatively conservative borrower by Irvine standards.
If this property sells for its asking price, and if a 6% commission is paid, this owner stands to make $378,999. Good luck with that.
Is this second property worth double the first one?
{book}
Feeling down ‘n’ dirty, feeling kinda mean I’ve been from one to another extreme This time I had a good time, ain’t got time to wait I wanna stick around till I can’t see straight Fill my eyes with that double vision No disguise for that double vision Ooh, when it gets through to me, it’s always new to me My double vision gets the best of me Never do more than I, I really need My mind is racing, but my body’s in the lead Tonight’s the night, I’m gonna push it to the limit I live all of my years in a single minute Fill my eyes with that double vision No disguise for that double vision Ooh, when it gets through to me, it’s always new to me My double vision always seems to get the best of me, the best of me, yeah-ah Ooh, double vision, I need my double vision Ooh, It takes me out of my head, takin’ me out of my head Ooh, I get my double vision Ooh, seeing double double, double vision Ooh, oh my double vision Ooh, double vision Yeah-ah, I get double vision, ooh . . .
Today is Mrs. Irvine Renter’s birthday. Since I manage to forget to get a card for her every year, I thought I would wish her a very public happy birthday.
Hopefully, this Valentine’s Day I will remember a card so I won’t have to write another poem.
I suppose you have to wonder about a guy who would drive around with this license plate:
It is rather entertaining to see the reactions of people in my rear-view mirror…
I want to let everyone know that I will not be as active in the comments over the next week. I have family coming to town to visit for the holidays. I suspect I will have enough downtime to see what is going on, but if you ask me a question in the comments, it may not receive a response.
{book}
So what do you think now that money is free? We joke about the free money during the bubble, but with interest rates a 0%, the FED really is giving away free money to any bank wanting to borrow it.
Unsold in 90+ days
How many roads must a man walk down
Feeling down ‘n’ dirty, feeling kinda mean
