Slade Smiley's home sold in 2008 - good profit

Where: 14 Meadow Wood, Coto de Caza
What: 5 bedrooms, 4.5 baths, 4800 sf, 0.25 acre lot
sold for: 1.25 Million on Sept 11 2008
Slade bought it for 822'000 on April 2 2002

Hoping Smiley didn't use up all the equity in the house to finance his hummer or renovations, he made a good deal.

on redfin: http://www.redfin.com/CA/Trabuco-Canyon/14-Meadow-Wood-Dr-92679/home/5059918

Corona del Mar - a waste of money

Where: 2520 FIRST Ave, Corona del Mar
What: 3 bedroom, 1.75 bath, 1304 sf house on 3300 sf lot, built 1938
sold for: 855'000 on Feb 18 2010
original price: 1.3 million, on market since Feb 7 2009

Comment: A worthless piece of crap on a lot smaller than most Newport Beach homes. Lots of people still think Corona del Mar is the best place to live, but the beach is trashed and crowded on weekends and holidays, and shopping on Pacific Coast Highway is overrated.

RHOC Gretchen Rossi in trouble?

Beautiful Gretchen from the Real Housewifes of Orange County bought her Costa Mesa 3 bedroom, 2.5 bath, 2375 sf home built in 2004 for a staggering 838'500 in March of 2005.
The same size, same built house next door sold in 2009 for 678'000. Zillow's most aggressiv estimate is 728'750. oooops...

Too big to sell...too big for the lot... in Harbor View for $ 3.5 Million

Where: 2065 PORT PROVENCE Pl
What: 6 bedroom, 6.5 bath, 7000 sf home on 8429 sf lot, built 2009
Asking price: 3'499'000
last sale: Jan 10 2007 for 1'750'000

Comment: Old house was replaced with new 7000 sf creepy house, too big for the size of the lot, endless space inside with full basement, but hardly any outside space to enjoy. House is right beside a busy road - I was there, it's loud. Kitchen is so big you'll walk a mile per meal, house in general has no cosyness to it. For this price, buy closer to the beach or even at the beach, unless you have 5 or more kids or a mother-in-law you want to accommodate in the spooky basement...

Property Shark estimate 2009: around 2.8 Million
see on redfin: http://www.redfin.com/CA/Newport-Beach/2065-Port-Provence-Pl-92660/home/4716596

Good deal on Balboa peninsula for $ 854'300

Where: 1111 West BALBOA Blvd, Balboa peninsula, second row to the beach
What: remodeled 2-bedroom front house and a back 1-bedroom rental, built 1938
Sold for: 854'300, short sale, probably all cash
When: Nov 6 2009
Orig. listing price: 1'285'000
Last sale: January 8 2000 for 400'000

Comment: The "real" value for this property with a pretty old house structure is in the land. But regarding the valuable 1 bedroom rental in the back, this house is going to pretty much pay for itself if the owners work well on promoting the rental. Dang, how could I miss this one...

Property Shark estimate 2009: 511'587
see on redfin: http://www.redfin.com/CA/Newport-Beach/1111-W-Balboa-Blvd-92661/home/3236272