Newer Irvine listings with crazy WTF asking prices from equity sellers

iacrenter said:
snowblind40 said:
jayl23 said:
Drumroll.... $500/sf for a motorcourt California Court home in Woodbury, just awesome  8)
http://www.redfin.com/CA/Irvine/196-Rhapsody-92620/home/7210093

Looks like Woodbury is quickly becoming the new Quail Hill... or something...  :D
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And then...  This happened...
http://www.redfin.com/CA/Irvine/54-Chantilly-92620/home/7210082

Discuss...
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There is nothing that brings down prices faster than supply competition. The 196 Rhapsody home will sit on the market until 54 Chantily gets sold or they bag an FCB.
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So what do you guys think this model is worth on this current market?  One obviously is too high and one is obviously too low.  $600k?
 
Cubic Zirconia said:
ps9 said:
Geesh.. I'm tempted to list my home for a super WTF price.. let the FCBs fight it out.. and take a 365 day cruise around the world...
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This is real. This is happening. There is no WTF..there is only a price to quoted, and a magical word to be said.. iList.
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So profit $300,000 - 5-6% commission - tax = ~$150,000 left over... take my cruise, home school my kid at sea, come back after a year, buy-in again in the deflating bubble market.. start kindergarten in Turtle Rock elementary... :) 
 
snowblind40 said:
iacrenter said:
snowblind40 said:
jayl23 said:
Drumroll.... $500/sf for a motorcourt California Court home in Woodbury, just awesome  8)
http://www.redfin.com/CA/Irvine/196-Rhapsody-92620/home/7210093

Looks like Woodbury is quickly becoming the new Quail Hill... or something...  :D
Click to expand...

And then...  This happened...
http://www.redfin.com/CA/Irvine/54-Chantilly-92620/home/7210082

Discuss...
Click to expand...

There is nothing that brings down prices faster than supply competition. The 196 Rhapsody home will sit on the market until 54 Chantily gets sold or they bag an FCB.
Click to expand...

So what do you guys think this model is worth on this current market?  One obviously is too high and one is obviously too low.  $600k?
Click to expand...

Per USC, 65 Canal was the most recent sale of a Cortile Plan 3 on 4/3/13 for $540K.http://www.redfin.com/CA/Irvine/65-Canal-92620/home/22735381

So it doesn't appear that 54 Chantilly is priced too low. Unless 65 Canal has some upgrades made of platinum bars or their location/lot size is that much bigger, based on redfin photos it seems hard to justify a $100K+ price difference.

In the end, your home is only worth what someone is willing to pay for it.
 
ps9 said:
Cubic Zirconia said:
ps9 said:
Geesh.. I'm tempted to list my home for a super WTF price.. let the FCBs fight it out.. and take a 365 day cruise around the world...
Click to expand...

This is real. This is happening. There is no WTF..there is only a price to quoted, and a magical word to be said.. iList.
Click to expand...

So profit $300,000 - 5-6% commission - tax = ~$150,000 left over... take my cruise, home school my kid at sea, come back after a year, buy-in again in the deflating bubble market.. start kindergarten in Turtle Rock elementary... :) 
Click to expand...

PS9,

Enjoy your trip! Be sure to upload some photos to TI from your trip  ;)
 
quattroporte said:
SoCal said:
Are people not embarrassed to pay so much for so little? I would be.
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Are people not embarrassed to ask so much for so little? I would be.
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Why should anyone be embarrassed about making money legally, fairly and honestly? If someone will pay, why not ask?
 
irvinehomeowner said:
samuroo said:
http://www.redfin.com/CA/Irvine/45-Rising-Sun-92620/home/5950658

2006 pricing?
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Holy shnikeys.

Where are all the bears to tell these people they are crazy?
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I think most of the bears are doing this:

tumblr_lm0s12CkVi1qkfkbqo1_250.gif


Or this...
[youtube]http://www.youtube.com/watch?v=KqF3W1waPLA[/youtube]

"RUN ED!!!  RUN!!!!!!!"
 
Cubic Zirconia said:
Let's round it up to a million, shall we?
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We ought to have a sip of what these buyers are drinking. It will make your eyes brighter, your teeth whiter, and childbirth a mere pleasure.
 
jayl23 said:
quattroporte said:
This one takes the cake.
http://www.redfin.com/CA/Irvine/1118-Scholarship-92612/home/17474013

Went from $480,000 to $4,900,000 and pending. Yes, $4.9 Million. Haha. Looks like the realtor got really excited and put an extra "0". I wish my seller took off an "0". LOL
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LOL, either that or I missed the flash hyperinflation.  :p
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We should get someone famous to tweet this and take advantage of the flash inflation that would happen and list all our homes!
 
snowblind40 said:
jayl23 said:
quattroporte said:
This one takes the cake.
http://www.redfin.com/CA/Irvine/1118-Scholarship-92612/home/17474013

Went from $480,000 to $4,900,000 and pending. Yes, $4.9 Million. Haha. Looks like the realtor got really excited and put an extra "0". I wish my seller took off an "0". LOL
Click to expand...

LOL, either that or I missed the flash hyperinflation.  :p
Click to expand...

We should get someone famous to tweet this and take advantage of the flash inflation that would happen and list all our homes!
Click to expand...

Robert Shiller FTW!
 
You have to love the chuzpah of this one--  closed on 4/3/2013 at $910K and now listed again at $1.4M-  and they used the same lousy photo in the listing!

http://www.redfin.com/CA/Irvine/23-Eastlake-92604/home/4690934?utm_medium=email&utm_campaign=listings_update&utm_source=myredfin&utm_content=address

Ya baby!  8)
 
furioussugar said:
You have to love the chuzpah of this one--  closed on 4/3/2013 at $910K and now listed again at $1.4M-  and they used the same lousy photo in the listing!

http://www.redfin.com/CA/Irvine/23-Eastlake-92604/home/4690934?utm_medium=email&utm_campaign=listings_update&utm_source=myredfin&utm_content=address

Ya baby!  8)
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Buyer paid sellers closing costs of $25k and got an FHA loan to buy the short sale.  No way they get $500/sf even if they did a 100% renovation.  They'll get around $400/sf which isn't a bad little profit. 
 
USCTrojanCPA said:
furioussugar said:
You have to love the chuzpah of this one--  closed on 4/3/2013 at $910K and now listed again at $1.4M-  and they used the same lousy photo in the listing!

http://www.redfin.com/CA/Irvine/23-Eastlake-92604/home/4690934?utm_medium=email&utm_campaign=listings_update&utm_source=myredfin&utm_content=address

Ya baby!  8)
Click to expand...
Buyer paid sellers closing costs of $25k and got an FHA loan to buy the short sale.  No way they get $500/sf even if they did a 100% renovation.  They'll get around $400/sf which isn't a bad little profit.
Click to expand...

Strange. The listing went from a 4 bedroom when it was sold a few weeks ago to 5 bedrooms in this current listing.
 
Lol...my college buddy lives in that area... That area looks and feels so sketchy!! It's starting to see a lot of hipsters populate that area! Where hipsters go... Price increase follows!!
 
Just saw a listing in my neck of the woods.  House bought in 2005 for $1.5M.  Now listed @ $2.2M.  Big bubbles in little areas.
 
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