Newer Irvine listings with crazy WTF asking prices from equity sellers

[usctrojancpa]

A 2400sq ft house like Water Lilly closed for 800k?  That sounds pretty appealing.

PM me next time, haha

$840k to be exact.

 

[Coleman]

That place was nice! How was the road noise? Pretty good deal considering the price homes in irvine are asking these days. One day off the market and close to asking too! Good job

 

[quattroporte]

How about this?

www.redfin.com/CA/Irvine/105-Towngate-92620/home/17471242

Property Type: Residential, Condominium
Attached, 2+ Common Walls

Asking price went from $700,000 to $615,000 in 4 days. Decrease of $75,000 in 4 days? Whatever they were smoking probably worn out....

 

[usctrojancpa]

That place was nice! How was the road noise? Pretty good deal considering the price homes in irvine are asking these days. One day off the market and close to asking too! Good job

No road noise at all.  The area sells for a slightly lower price per SF because of the high Mello Roos and the HOA being a bit high too.

 

[usctrojancpa]

How about this?

www.redfin.com/CA/Irvine/105-Towngate-92620/home/17471242

Property Type: Residential, Condominium
Attached, 2+ Common Walls

Asking price went from $700,000 to $615,000 in 4 days. Decrease of $75,000 in 4 days? Whatever they were smoking probably worn out....

I guess they actually want to sell it instead of waste everyone's time. 

 

[obirvine]

Another one in University Park, built in 1968, bought for $375K a year ago now asking $575K.
http://www.redfin.com/CA/Irvine/4462-Sandburg-Way-92612/home/4702169


And this in PS. Attached condo, bought for $380K couple of years ago, asking $749K, then reduced to $729.
http://www.redfin.com/CA/Irvine/161-Silverado-92618/home/40033541

 

[LiefinIrvine]

How about this?

www.redfin.com/CA/Irvine/105-Towngate-92620/home/17471242

Property Type: Residential, Condominium
Attached, 2+ Common Walls

Asking price went from $700,000 to $615,000 in 4 days. Decrease of $75,000 in 4 days? Whatever they were smoking probably worn out....

I guess they actually want to sell it instead of waste everyone's time.

Look at this, 498$/sqft , Not asking,    Sold Already.........................

http://www.redfin.com/CA/Irvine/110-Chantilly-92620/home/7210103

 

[obirvine]

How about this?

www.redfin.com/CA/Irvine/105-Towngate-92620/home/17471242

Property Type: Residential, Condominium
Attached, 2+ Common Walls

Asking price went from $700,000 to $615,000 in 4 days. Decrease of $75,000 in 4 days? Whatever they were smoking probably worn out....

I guess they actually want to sell it instead of waste everyone's time.

Look at this, 498$/sqft , Not asking,    Sold Already.........................

http://www.redfin.com/CA/Irvine/110-Chantilly-92620/home/7210103

This is detached, and when the house is small (like this one at 1145 Sq. FT) $/Sqft looks higher.

 

[BunkMoreland]

You can rent a nice IAC apt with similar sq ft for $1000/mo less. Makes no sense.

 

[usctrojancpa]

You can rent a nice IAC apt with similar sq ft for $1000/mo less. Makes no sense.

You can rent the same damn condo for about $1000/mo less a month (assuming you only put down 20% to buy it). 

 

[quattroporte]

Good read. I thought Id post it here.
http://seekingalpha.com/article/1447971-housing-the-risk-of-rising-home-prices-and-mortgage-rates

 

[Coleman]

Looks like the kool-aid is running up the 133 to Aliso Viejo
http://www.redfin.com/CA/Laguna-Beach/41-Solitaire-Ln-92656/home/4853506

Way over priced - funny thing is the house down the street is asking the same price! 

 

[woodburyowner]

http://www.redfin.com/CA/Irvine/87-Long-Mdw-92620/unit-82/home/7211023

$598k for a Lombard Court Plan D.  Looks like seller tried to unload his property in the past with WTF prices, but was unsuccessful (lucky for him!). 

Just went pending!  Seller is getting some peak pricing for his property.

Wow, a 3-level condo going for almost $400/sf.  Nothing shocks me anymore.

Prepared to be shocked even more.. closed at $625k!  $25k over asking!!

 

[cubiczirconia]

http://www.redfin.com/CA/Irvine/87-Long-Mdw-92620/unit-82/home/7211023

$598k for a Lombard Court Plan D.  Looks like seller tried to unload his property in the past with WTF prices, but was unsuccessful (lucky for him!). 

Just went pending!  Seller is getting some peak pricing for his property.

Wow, a 3-level condo going for almost $400/sf.  Nothing shocks me anymore.

Prepared to be shocked even more.. closed at $625k!  $25k over asking!!

The gym house.. investment of a lifetime! This is one of the worst floor plans IMO.
We are beyond shocked, and we are not even permabears of IHB

 

[usctrojancpa]

http://www.redfin.com/CA/Irvine/87-Long-Mdw-92620/unit-82/home/7211023

$598k for a Lombard Court Plan D.  Looks like seller tried to unload his property in the past with WTF prices, but was unsuccessful (lucky for him!). 

Just went pending!  Seller is getting some peak pricing for his property.

Wow, a 3-level condo going for almost $400/sf.  Nothing shocks me anymore.

Prepared to be shocked even more.. closed at $625k!  $25k over asking!!

Trust me, nothing shocks me today.  I have buyers putting over list price offers in with no appraisal contingency with 30-50%+ down and they can't get a home.  Attached condo prices are heading towards $400/sf while detached homes are heading towards $500/sf. 

 

[BunkMoreland]

http://www.redfin.com/CA/Irvine/87-Long-Mdw-92620/unit-82/home/7211023

$598k for a Lombard Court Plan D.  Looks like seller tried to unload his property in the past with WTF prices, but was unsuccessful (lucky for him!). 

Just went pending!  Seller is getting some peak pricing for his property.

Wow, a 3-level condo going for almost $400/sf.  Nothing shocks me anymore.

Prepared to be shocked even more.. closed at $625k!  $25k over asking!!

Trust me, nothing shocks me today.  I have buyers putting over list price offers in with no appraisal contingency with 30-50%+ down and they can't get a home.  Attached condo prices are heading towards $400/sf while detached homes are heading towards $500/sf.

This is ridiculous. The impact is that if you buy a home right now, you have to LOVE IT... that is, you need to be prepared to live there at least 10 years because it is very possible/likely that buyers today could be under water in 6 years when they want to upgrade.

 

[homer_simpson]

A lot of buyers are putting like what Martin said 30-50% down.. That should keep their heads afloat even if the market heads south.

 

[qwerty]

A lot of buyers are putting like what Martin said 30-50% down.. That should keep their heads afloat even if the market heads south.

It may keep them a float but that doesn't mean they won't have to take a loss on their initial investment if they decide, or have to sell.

 

[LiefinIrvine]

How about this?

www.redfin.com/CA/Irvine/105-Towngate-92620/home/17471242

Property Type: Residential, Condominium
Attached, 2+ Common Walls

Asking price went from $700,000 to $615,000 in 4 days. Decrease of $75,000 in 4 days? Whatever they were smoking probably worn out....

I guess they actually want to sell it instead of waste everyone's time.

Look at this, 498$/sqft , Not asking,    Sold Already.........................

http://www.redfin.com/CA/Irvine/110-Chantilly-92620/home/7210103

This is detached, and when the house is small (like this one at 1145 Sq. FT) $/Sqft looks higher.

No big difference nowadays between detached and attached condo's.  All new houses have sound proof and thicker walls. Moreover, even these detached homes have dual HOA.

 

[homer_simpson]

A lot of buyers are putting like what Martin said 30-50% down.. That should keep their heads afloat even if the market heads south.

It may keep them a float but that doesn't mean they won't have to take a loss on their initial investment if they decide, or have to sell.

yeah but they hopefully won't have to short sale it.