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29 Prairie Grass
Irvine, CA 92603
$9,880,000
Conventional
Property
Bedroom
6
Bathroom
7
Property Type
Conventional
Square ft
4678
Property Description
PRICE IMPROVEMENT! This is your opportunity to own one of Shady Canyon’s newest offering: a top to bottom extensive remodel in this desirable single-level Villa residence where every luxury amenity awaits you. The modern, contemporary residence features 6 bedrooms, 6.5 baths with a detached guest house with its own kitchen, and forever views of golf course and city lights. Generous dimensions and light define this modern, revamped Shady Canyon Villa which has been completely customized with ceilings raised, walls taken down and spaces expanded. Displayed on a single level and overlooking the golf course and city lights, the home is both edited and warm with features such as the jewelry-like custom Hammerton lighting throughout, large format honed limestone flooring laid indoors and out for a cohesive aesthetic, Carrera and Calcutta Gold marble bathrooms, and white oak hardwood flooring in the bedrooms. A loggia walkway leads you past the guest house equipped with its own kitchen and walk-in closet and onward to the main residence, where the immense open floor plan waits via an impressive iron and glass pivot door and two 14 feet high glass wine cellar display cases. Beyond, find a panorama of living space with exceptional ceiling height that encompasses the living room, dining room and kitchen - all opening via three La Cantina nano doors to the rear grounds featuring fire pit, patio, and new pool with Baja shelf and spa - and also to the central garden with built-in barbecue and waterfall fountain. The true Chef’s Kitchen outfitted with all German Miele Appliances includes an oversized center island for seating and entertaining, custom rift cut oak cabinetry, and dramatic quartzite stone. The indulgent master suite opens to the resort grounds with views and encompasses two sitting rooms, and bathroom suite with a sleek closet system as visually stunning as it is functional with integrated LED lights and incorporates a floating island dresser, Victoria+Albert volcanic limestone freestanding bathtub made in England and a luxurious shower. The guest wing features four hotel-inspired bedrooms - one a junior master suite and two of which have private entrances out to the central garden. A three-car finished garage, laundry room with two sets of washers and dryers and a beautiful powder room complete this outstanding Villa residence. Shady Canyon offers world-class amenities, including the region's finest schools, and 24/7 guard gate access.
Property Information
Lot Size
13,983 sqft square ft
Property Type
Residential
Year Built
2004
MLS Number
NP24009003
Location
Address
29 Prairie Grass
City
Irvine
State
CA
Zip Code
92603
County
ORANGE (SOUTH)
Listing
Provider
Surterre Properties, original listing
Name
Surterre Properties
Phone
(949) 717-7100
Office Name
Surterre Properties Inc.
Office Phone
(949) 717-7100
Agent Name
Jacqueline Thompson

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HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.