Home for Sale at 59 Canyon Creek, Irvine, CA 92603

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59 Canyon Creek
Irvine, CA 92603

Summer Perry with Compass, original listing - (949) 438-4340

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Property Details

List Price:	$9,888,000
Beds:	4
Baths:	Full: 4, ½: 2
Status:	Active
SqFt:	6009 Square Feet
Agency:	Compass
Agency Phone:	(949) 438-4340

Map Details Show Map | Show StreetView

Description/Comments

Lot Size:	0 acre(s)
Garage:	Garage
Property Type:	Residential-Single Family Residence
Year Built:	2008
Notes:	Nestled behind the prestigious gates of Shady Canyon, 59 Canyon Creek offers a rare opportunity to experience luxury living at its most refined. Crafted by renowned builder Robert McCarthy, this exceptional estate blends timeless elegance with modern functionality, offering an impeccable floor plan and exquisite attention to detail throughout.<br /> <br /> This sophisticated residence features four generously appointed bedrooms, four full bathrooms, and two stylish powder rooms. From the moment you step inside, natural light pours through expansive windows, illuminating the open-concept interiors and creating an airy, welcoming ambiance. Designed for seamless indoor-outdoor living, the home boasts multiple entertaining spaces, including a large gourmet kitchen that flows effortlessly into both the family and living rooms—ideal for intimate gatherings or grand celebrations.<br /> <br /> Outside, a resort-style saltwater pool, spa, and cabana offer a private oasis for relaxation and leisure. The luxurious primary suite includes a private balcony with tranquil views, while a dedicated home office provides the perfect space for remote work or creative pursuits. A custom wine cellar stands ready for the collector, and the gated motor court ensures privacy and convenience.<br /> <br /> Set within one of Southern California’s most coveted communities, Shady Canyon is celebrated for its unmatched privacy, scenic beauty, and world-class amenities. As one of the premier custom homes in this esteemed enclave, 59 Canyon Creek represents not just a residence, but a lifestyle.<br /> <br /> This is more than a home. It’s a statement.
MlsNumber:	--
ListingId:	NP25063717

Listing Provided By:	Compass, original listing
Phone:	(949) 375-9074
Office Phone:	(949) 438-4340
Agent Name:	Summer Perry
Disclaimer:	Copyright © 2025 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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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.

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.

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