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32 Sage Creek
Irvine, CA 92603
Jacqueline Thompson with Surterre Properties Inc., original listing - (949) 717-7100
$12,950,000
Conventional
Property
Bedroom
6
Bathroom
Full: 6, ½: 4
Property Type
Conventional
Square ft
9136 Square Feet
Property Description
Extraordinary European custom estate by way of Shady Canyon. Nestled in the prestigious hideaway of Shady Canyon, this architectural gem invites you into a world of refined luxury. A Pridemark and EBTA collaboration completely transformed in 2014 with a meticulous down-to-the-studs remodel by Rob Glass, this estate artfully blends timeless elegance with modern sophistication. Every detail reflects a deep reverence for craftsmanship and the finest materials. Entering through reclaimed gates into a serene courtyard, you’re greeted by lush landscaping and the gentle sound of a fountain setting the tone. Reclaimed oak planks, laid in wide plank and herringbone patterns, guide you through spaces rich with history. Hand-painted cabinetry, custom hardware, and reclaimed timbers evoke understated luxury, while hand-troweled Venetian plaster graces the walls with subtle elegance. The formal dining room, off the foyer and opening through French doors to the romantic grounds, exudes a stately presence. It’s centered around one of four reclaimed fireplaces with authentic firebricks that echo eras past. The kitchen, a culinary dream, flows seamlessly into the breakfast area and family room. It features a La Cornue stove, framed by stonework and beamed ceilings. French doors open to the backyard, a verdant oasis with a glistening pool, spa with waterfalls, and mature trees. Lounging areas include sunlit terraces, a shaded cabana with a barbecue, and intimate inner garden vignettes. The main level master suite is a sanctuary unto itself, with a cozy fireplace, sitting area, walk-in closet with washer and dryer, limestone-adorned master bath, and attached office with en-suite bath. Another bedroom suite on the main level ensures guest privacy. Ascending to the second level via crafted iron railings, three bedroom suites connect to an expansive bonus room with a balcony overlooking the idyllic surroundings. The subterranean level defies expectations with its open design, entered through steel doors that set a cool, sophisticated vibe. It houses a wine cellar, an enormous media/game room, and a large craft room. The subterranean garage accommodates six cars, complemented by a gated motor court with a reclaimed cobblestone driveway. Shady Canyon offers 24-hour guard gates, swimming, pickleball and tennis courts, a sports court, a clubhouse, trails, a playground, and a world-famous Golf Club.
Property Information
Lot Size
0 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
2009
MLS Number
--
Location
Address
32 Sage Creek
City
Irvine
State
CA
Zip Code
92603
County
ORANGE (SOUTH)
Listing
Name
Phone
(949) 326-3392
Office Name
Office Phone
(949) 717-7100
Agent Name
Jacqueline Thompson
Agency Phone
(949) 717-7100

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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.