Talk Irvine

General => Real Estate => Irvine Real Estate => Topic started by: USCTrojanCPA on August 15, 2010, 12:48:30 AM

Title: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on August 15, 2010, 12:48:30 AM
I figured I'd expand on the highlight some of the newer listings with crazy WTF prices as they come onto the market.  So here's a great little example of either the seller or owner not realizing that 3-story Tall Oak detached condos in Quail Hill DO NOT sell for the same amount as their 2-story counterparts do:

http://www.redfin.com/CA/Irvine/107-Tall-Oak-92603/home/5979758

I actually went to see this property with one of my buyers Saturday morning.  It was nice, but the 3-story layout made the home feel kinda dark and hiking up all those stairs was not all that fun.  I guess the seller and listing agent didn't see that 32 and 104 Tall Oak (same floor plans) have been sitting on the market in the low $600s with no bite and that sold comps also point to prices around $600k for these 3-story units.  Looks like this baby is about $100k overpriced and will be sitting on the market for a good while.   :-X

I'll post up new listings as they come up, but feel free to post up any listings that you guys find that have stupid asking prices. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jbh on August 15, 2010, 09:28:14 AM
There are five 3-story listings in Corte Bella right now (all properties in there have 3 stories). The five listings have been sitting there for months.

A listing that I looked at and thought that it was listed for about $100K too much was on Suncreek at $925K. It looks like they just pulled it off of the market.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: test on August 15, 2010, 01:47:52 PM
I think the three-story townhomes have proved hugely unpopular.  After a brief flirtation with them in the early 00's, TIC has given up on them.  With all the newly constructed townhomes this year, you'll notice there are no three-stories in WB, WE, SE or PS.

The reason they're not building 3 stories now because it costs more.  The products you see in WB, WBE and PS are the cheapest of the cheap in terms of construction.  Everything is going smaller and cheaper now.  This is from the horse's mouth (builder).

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on August 16, 2010, 09:00:56 AM
Places like QH, where land is a premium and overall acreage is smaller, you will see more 3-story builds... other places you will see less.

I would imagine you might see them in Laguna Crossing but maybe not in Portola Springs.

Like in a previous thread, I believe there is a segment for a 3-story home, but more in the SFR mid-sized category where you can get 2500-3000sft of living space on a 2000sft house lot.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: test on August 19, 2010, 12:45:43 PM
I think the three-story townhomes have proved hugely unpopular.  After a brief flirtation with them in the early 00's, TIC has given up on them.  With all the newly constructed townhomes this year, you'll notice there are no three-stories in WB, WE, SE or PS.

The reason they're not building 3 stories now because it costs more.  The products you see in WB, WBE and PS are the cheapest of the cheap in terms of construction.  Everything is going smaller and cheaper now.  This is from the horse's mouth (builder).

"Nine of 10 builders surveyed by NAHB
in 2009 say they’re building or planning smaller,
lower-priced homes than in the past."

http://info.trulia.com/file.php/2837/trulia_infographics_2010.pdf

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on August 20, 2010, 04:09:23 PM
Not only is this home overpriced by a good $200k, the seller is only offering 2% buyer's agent commission.  I guess the sellers want to walk away with some profit since they bought it for $1.278m.  haha

http://www.redfin.com/CA/Irvine/31-Sanctuary-92620/home/5959278

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: confuzed on April 13, 2011, 09:43:47 PM
My WTF award goes to.........

http://www.redfin.com/CA/Irvine/23-Sovente-92606/home/4629800

Do you think Westpark II will ever see this kind of prices in next 10 years?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: iacrenter on April 13, 2011, 10:19:15 PM
My WTF award goes to.........

http://www.redfin.com/CA/Irvine/23-Sovente-92606/home/4629800

Do you think Westpark II will ever see this kind of prices in next 10 years?

That is a big home on a big interior lot but not at $560/sqft! Maybe there is large oil deposit or gold mine under the property.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: frank69m on April 13, 2011, 10:25:44 PM
My WTF award goes to.........

http://www.redfin.com/CA/Irvine/23-Sovente-92606/home/4629800

Do you think Westpark II will ever see this kind of prices in next 10 years?

That is a big home on a big interior lot but not at $560/sqft! Maybe there is large oil deposit or gold mine under the property.


Plus, I hope potential buyers realize that this home is right next to Kindercare day-care so expect lots of noise in the day.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: shadax on April 14, 2011, 01:29:08 AM
I think the three-story townhomes have proved hugely unpopular.  After a brief flirtation with them in the early 00's, TIC has given up on them.  With all the newly constructed townhomes this year, you'll notice there are no three-stories in WB, WE, SE or PS.

ahh....check out D and F
http://www.villagesofirvine.com/Villages-And-Residences/Portola-Springs-Overview.aspx?type=neighborhood&Id=55 (http://www.villagesofirvine.com/Villages-And-Residences/Portola-Springs-Overview.aspx?type=neighborhood&Id=55)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: shadax on April 14, 2011, 06:55:44 AM
I think the three-story townhomes have proved hugely unpopular.  After a brief flirtation with them in the early 00's, TIC has given up on them.  With all the newly constructed townhomes this year, you'll notice there are no three-stories in WB, WE, SE or PS.

ahh....check out D and F
http://www.villagesofirvine.com/Villages-And-Residences/Portola-Springs-Overview.aspx?type=neighborhood&Id=55 (http://www.villagesofirvine.com/Villages-And-Residences/Portola-Springs-Overview.aspx?type=neighborhood&Id=55)


When I wrote that in mid-2010, I said "this year there are no three-stories."  Three-stories are the BOMB in 2011!

Haha...whoops.  Didn't realize the date.  I toured them though-  I liked "D"...but the walking down two flights of stairs to do my laundry seems kind of lame.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: freedomcm on April 14, 2011, 10:27:17 AM
Hah, but i think it is a typo from the flipper.  I bet a fat finger slip added a "1" before the $680k they are hoping for.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: IndieDev on April 14, 2011, 10:46:45 AM

Do you think Westpark II will ever see this kind of prices in next 10 years?

No. Not unless we see massive inflation, or a radical shift upward in the median salary of the city.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on April 14, 2011, 10:56:34 AM

Do you think Westpark II will ever see this kind of prices in next 10 years?

No. Not unless we see massive inflation, or a radical shift upward in the median salary of the city.
Maybe all the FCBs can open some businesses in Irvine and soak up all the vacancies in the office and industrial market in Irvine.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: IndieDev on April 14, 2011, 11:04:45 AM

Do you think Westpark II will ever see this kind of prices in next 10 years?

No. Not unless we see massive inflation, or a radical shift upward in the median salary of the city.
Maybe all the FCBs can open some businesses in Irvine and soak up all the vacancies in the office and industrial market in Irvine.

Irvine is different. Rich Chindians will keep prices inflated for eternity, Northpark detached homes are actually worth $850k! Turtle Rock homes near Culver should be selling in the $900,000s! Von Karmann's commercial property will be revitalized with Chindian companies galore. If they open up a second 85 Degrees location, watch out, Irvine may become the next San Marino.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: OCMommy on April 15, 2011, 09:20:14 PM
Our realtor has taken us to see alot of resales in Woodbury and Northwood.  When you look at the prices and the amount of work that will be required on the Northwood Pointe homes, new starts to make a lot of sense.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: iacrenter on April 16, 2011, 08:44:25 AM
Our realtor has taken us to see alot of resales in Woodbury and Northwood.  When you look at the prices and the amount of work that will be required on the Northwood Pointe homes, new starts to make a lot of sense.

On a price per sqft basis, new home construction appears to be a good value. Then you factor in the higher MR & sometimes HOA, and need for landscaping--then not so much. Also, new TIC construction usually means small to no yard, no 3 car wide garage (for the IHO types), motor courts--but at least you have your California Room.  :)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: SecretGarden on April 17, 2011, 01:37:16 AM
Our realtor has taken us to see alot of resales in Woodbury and Northwood.  When you look at the prices and the amount of work that will be required on the Northwood Pointe homes, new starts to make a lot of sense.

Hi OCMommy,

I totally agree that Northwood Pointe homes do not make much sense after pondering the prices awhile.  We've been looking for a home for over a year now and we started off liking Quail Hill, Woodbury, Portola Springs, etc etc and finally settled on Northwood Pointe (as our tastes evolved)...BUT after seeing all of the various homes in Northwood Pointe and their crazy asking prices, we feel like trying to buy there is like trying to swim upstream.  Do all the sellers there attend a seminar on how to list high and wait for a sucker?

Northwood Pointe has some clear advantages over some of the newer construction in that it offers established, excellent elementary and high schools within walking distance.  So you know re-zoning is improbable.  The other positives were that the neighborhood is tucked away from everything and has a pretty appealing centralized park/open space for the kids to roam around in.  The lots are much bigger too and it's mostly gated.  But despite these positives, the houses themselves are undeniably lame in design and some of the homes shortchange you with only half of a driveway.  (Plus, I wonder how much prices will come down once Orchard Hills opens.)     

The great rooms on some are awkwardly small OR they're obnoxiously big and too rectangular.  And to top it off, most of the homes were built in an era when white appliances were standard so that's a total eyesore.  Yet, these things don't seem to deter the owners from listing at crazy high prices.  I feel like telling these owners: "your house is NOT on a hill and you're NOT across from an ocean or even a lake or a pond.  Stop acting like it and lower your prices!"  And then a house goes into escrow and I think, "kill me, please."         

It's a frustrating market to say the least!!     

We're looking at new construction now because I feel like if I'm gonna be anyone's sucker, I'll at least let a builder sucker me into a TRUE great room and I'll pay for my own bad design choices.  Better that than a private owner who picked out bad flooring and designs for their 1990s home---which designs I'll be tearing down to bring them into the current century.   

BTW, what do YOU like about Northwood Pointe?  I wonder what is appealing about it for others because I can't quite verbalize why I like it so much but it just speaks to me.  It's obviously speaking to me a lot less these days.  ;)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Irvine2Irvine on April 17, 2011, 07:00:17 AM
The extra "e" on the Pointe costs extra $200K.

Seriously, I looked at many houses at Northwood Pointe and I generally like the neighborhood.  Being gated was a small plus, although some people may see that as a big plus.  Another thing that some people may like are the formal living room and dining rooms.  Also, relatively larger lot size for being a newer house is a plus.

I do agree that the house prices are high and are at the age where major maintenance are going to start.  Most of the homes I saw also needed major remodel in Kitchen and bathrooms as many were plain white tile.  My wife swore off white tiles in kitchen or bathroom.   So when I added up the remodeling costs, the houses were more expensive than the new construction, even with higher mello roos on new construction.  Also, I didn't want formal living room and formal dining room.  We rarely use them and prefer the great room concept.

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: shokunin on April 17, 2011, 07:58:49 AM
We like northwood pointe.  They use a lot of craftsmen / arts & crafts style architecture that I like.  The neighborhoods also seem much more quaint and less crowded.  The mature landscape and the fact that the homes are larger lots than what you'll see in WB or SG makes NPe feel much less dense. 

It is true that many of homes are aging a bit, but that is what I want.  i'd rip out the kitchens in most of these and redo them myself.  Even the current new housing use such cheap cabinetry, cheap drawers, cheapest drawer guides, etc.  You can upgrade but it'll cost ya.  Even the Mille Fleurs tract in WB, which used extensive thermofoil cabinets is peeling all over the place.  Bad design choices make it easier to justify to remodel.  If only the prices soften another 5-10% in NPe we'd jump in.  The lower mello roos and tax savings will offset some of the remodeling costs.


Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: OCMommy on April 17, 2011, 08:07:18 AM
Nothwood Pointe for us has a classic neighborhood feel.  The mature trees and the largeer lots are nice.  We loved the trail too.  We actually like having a formal dining room and living room for the extra space and love the spiral staircases.  The problem is that the houes we saw all require work andcwhen buying at the top of your range....new starts to make more sense.  We have decided that irvine is a compromise no mattervwhich home you buy.  A least with new we can be happy about the new home feel. We are seriously consideringMaricopa.  The good news is thatbit doesn't seem to be selling quickly!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: shokunin on April 17, 2011, 09:47:56 AM
We toured and liked Maricopa Plan 3, until I saw through the dining / kitchen windows and saw the "depth" of the rear yard.  I had to chuckle as it was like maybe 8-10ft deep.  On the side yard where the fireplace sticks out on the wall I pointed my laser measuring tape and it was 69" to the next door neighbor's (model 2?) fireplace wall.  Granted, other areas had more reasonable setbacks but the lack of privacy on the models were disappointing. 

I didn't check the lot sizes or lot layouts, but I hope the lots on Maricopa are bigger than the models.  We're leaning far more towards resales, as the time we factor in landscaping, flooring and upgrades, it'll add up to $125K or so, which is far less than our estimates to remodel a NW pointe home that has decent flooring and landscaping.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on April 17, 2011, 09:53:31 AM
We toured and liked Maricopa Plan 3, until I saw through the dining / kitchen windows and saw the "depth" of the rear yard.  I had to chuckle as it was like maybe 8-10ft deep.  On the side yard where the fireplace sticks out on the wall I pointed my laser measuring tape and it was 69" to the next door neighbor's (model 2?) fireplace wall.  Granted, other areas had more reasonable setbacks but the lack of privacy on the models were disappointing. 

I didn't check the lot sizes or lot layouts, but I hope the lots on Maricopa are bigger than the models.  We're leaning far more towards resales, as the time we factor in landscaping, flooring and upgrades, it'll add up to $125K or so, which is far less than our estimates to remodel a NW pointe home that has decent flooring and landscaping.
That's the biggest problem that I see with these new homes in Stonegate....tiny lots with small backyards (high density).  I know the prices of homes are high in Northwood Pointe but there's a reason why they trade at those prices...it means there's a demand for those 10+ year homes.  To me, Stonegate is the poorman's Woodbury with the Woodbury pricing. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: akim997 on April 17, 2011, 11:07:24 AM
I've only seen one house in my life where I thought, "you know, this house is perfect, I wouldn't change a thing"...  it was a nicely remodeled house in North Tustin that was selling for $1.1M.   I've been looking for so long to realize that opinions on home design are never the same.   So personally, I'd rather buy a home that NEEDS to be updated and hope to negotiate from there.   A lot of sellers thow on ugly pre-fab granite which comes with a standard ugly bull-nose edge and say "highly upgraded with granite countertops" and expect a higher price.   I would have preferred it if they left it with whatever was there before.    So yeah, the Northwood Pointe homes need updating, but so do most.   Otherwise you might end up with this...

http://www.redfin.com/CA/Irvine/23-Straw-Flower-92620/home/4789395
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: shokunin on April 17, 2011, 11:23:33 AM
On the flip side, this house http://www.redfin.com/CA/Irvine/23-Woodhaven-Ln-92620/home/4790132 (http://www.redfin.com/CA/Irvine/23-Woodhaven-Ln-92620/home/4790132) was sooo oddly remodeled, that the wife and I *HAD* to see the open house yesterday.

Redfin had the prior listing when owners bought still available (click on the price/listing history area) and the house used to look quite normal with nicely painted walls, carpet, fireplace and all...

The realtor tried her best to convince us that the floors were very expensive european hardwood.  Uhh.. but she couldn't explain why they painted it white and then rustic sanded it.  Then the entire house had every single electrical outlet moved to the baseboards.  But the baseboards weren't nice baseboards, since 7-8" baseboards are hard to come by.  Instead whoever installed the baseboards simply cut and painted strips of MDF and as needed and of course, had to cut out holes for the newly placed electrical outlets. 

Positive points, had a 3WCG and huge (relatively) lot.  Way overpriced in my opinion.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: OCMommy on April 17, 2011, 01:27:14 PM
I do worry about what Stonegate will be in the future especially if Maricopa ends up being the largest type of home they build.

On Opening day they were referring to the backyards as gathering places .... I think that is the new Irvine lingo.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on April 17, 2011, 01:33:06 PM
I don't think Maricopa is the largest, the map of Stonegate looks like there are bigger homes just north.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: SecretGarden on April 17, 2011, 01:52:22 PM
On the flip side, this house http://www.redfin.com/CA/Irvine/23-Woodhaven-Ln-92620/home/4790132 (http://www.redfin.com/CA/Irvine/23-Woodhaven-Ln-92620/home/4790132) was sooo oddly remodeled, that the wife and I *HAD* to see the open house yesterday.

Redfin had the prior listing when owners bought still available (click on the price/listing history area) and the house used to look quite normal with nicely painted walls, carpet, fireplace and all...

The realtor tried her best to convince us that the floors were very expensive european hardwood.  Uhh.. but she couldn't explain why they painted it white and then rustic sanded it. 

Way overpriced in my opinion.

We didn't even want to see that house because from the pictures on redfin it looked like the owner was high on something.  Plus, I agree it is REALLY overpriced.  I find it funny when a realtor tries to convince potential buyers that a certain upgrade or design choice was "very expensive."  Do we really look that naive?   :o

I've only seen one house in my life where I thought, "you know, this house is perfect, I wouldn't change a thing"...  it was a nicely remodeled house in North Tustin that was selling for $1.1M.   I've been looking for so long to realize that opinions on home design are never the same.   So personally, I'd rather buy a home that NEEDS to be updated and hope to negotiate from there.   A lot of sellers thow on ugly pre-fab granite which comes with a standard ugly bull-nose edge and say "highly upgraded with granite countertops" and expect a higher price.   I would have preferred it if they left it with whatever was there before.    So yeah, the Northwood Pointe homes need updating, but so do most.   Otherwise you might end up with this...

http://www.redfin.com/CA/Irvine/23-Straw-Flower-92620/home/4789395


Just curious which house you liked as far as design in North Tustin.  The reason why I ask is because I think overall, the Americanized Asian-Americans have somewhat similar tastes as far as home design and upgrades.  For instance, the 25 Torrey Pine is a good example.  We also bid on that property (which in hindsight we strongly regret after realizing how shady those realtors were and are) because it already had all of the upgrades that were tasteful.  (That saves a lot of time, fighting with the spouse, etc.)  I couldn't have made better decisions on design myself. 

So, in the most perfect universe I think we're waiting for a home in Northwood Pointe that has an owner who has similar tastes as that Torrey Pine type of home and has upgraded accordingly.  But wishful thinking, right?  That Strawflower house was upgraded with modern design choices that we felt looked cheap but were meant to look expensive.  The broker there tried to convince us that the upgrades were expensive.  Again, I feel like if you have to sit there and tell all of the potential buyers that the upgrades were "very expensive," then you've done something wrong somewhere.  Plus, it backs to a street. 

I agree that in that regard it's better to just get a Northwood Pointe home with NOTHING upgraded so that you're not paying for it, but that's the thing about these owners.  They list the homes as if they're already upgraded but they're not.

I HEART Northwood Pointe.  Believe me.  It gives me warm and fuzzy feelings but then there are some really lame things going on there.  Take a look at this house.   

http://www.redfin.com/CA/Irvine/15-Candlewood-92620/home/4790470

We saw 15 Candlewood and we are familiar enough with Northwood Pointe (we've studied all of the floorplans closely enough) to know that this house is NOT 2,350 sq ft.  It doesn't even hit 2,200.  The price per sq ft on this house would be north of $500/sq ft using the actual square footage.  Are we in a new construction in Newport Beach?  This is what kills me and chills our desire to buy in Northwood Pointe.  The artificial inflation on sale prices, plus overstated SQ FT of lot and home on redfin and MLS make it really unappealing to do business there.     

Nothwood Pointe for us has a classic neighborhood feel.  The mature trees and the largeer lots are nice.  We loved the trail too.  We actually like having a formal dining room and living room for the extra space and love the spiral staircases.  The problem is that the houes we saw all require work andcwhen buying at the top of your range....new starts to make more sense.  We have decided that irvine is a compromise no mattervwhich home you buy.  A least with new we can be happy about the new home feel. We are seriously consideringMaricopa.  The good news is thatbit doesn't seem to be selling quickly!
 
As much as I love Northwood Pointe, we are now considering Maricopa too.  We like Plan 2 the most but Plan 1 is appetizing since the base price is so low.  However, I am wary about why Maricopa is not selling well.  I feel like I've been so trigger-shy for so long now that I am beginning to OVERTHINK the home purchase.  I'm wondering whether Maricopa would be a hard sell in the resale market because the designs are not popular or if it's presently just the economic climate that's making them hard to sell.   

We'll probably end up buying Maricopa Plan 2 unless a reasonable Northwood Pointe seller comes onto the redfin scene. 

 
 
 

 

 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: OCMommy on April 17, 2011, 06:34:40 PM
We are seriously considering Maricopa too, but first have to sell our house.  I worry to about why it isn't selling and wonder what the lot sizes are ...we never asked. Plus I do not think it will be 100k to upgrade and landscape.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: SecretGarden on April 17, 2011, 08:28:07 PM
I believe the Maricopa lots are 3,850 for most lots and 4,263 for a few others.  There are some outliers (the corner lots) but for the most part that's the range per the sales reps. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on April 17, 2011, 09:56:44 PM
You guys will get a kick out of this.  So I stopped by Maricopa with one of buyers this afternoon to look at the models and decided to play dumb with one of the sales people.  I ask..."so are you offering any broker co-op?"   Their response was almost word-word as the response I got from the sales person at San Marino..."Not at the moment, but if you give me your business card we will contact you as soon as we begin to offer one."   TIC brainwashes...errrr trains their sales people well.  haha  A broker co-op and/or buyer incentives are coming sooner rather than later.

In terms of floor plans, I like Plan 2 (for the upstairs laundry) followed by Plan 3 (for the upstairs loft/bonus room).  The home management/downstairs laundry of Plan 1 weren't my thing at all and the downstairs didn't seem to flow all that well.  All the backyards felt small and tight, but that's the norm with these iPac homes.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: akim997 on April 17, 2011, 11:36:06 PM
On the flip side, this house http://www.redfin.com/CA/Irvine/23-Woodhaven-Ln-92620/home/4790132 (http://www.redfin.com/CA/Irvine/23-Woodhaven-Ln-92620/home/4790132) was sooo oddly remodeled, that the wife and I *HAD* to see the open house yesterday.

Redfin had the prior listing when owners bought still available (click on the price/listing history area) and the house used to look quite normal with nicely painted walls, carpet, fireplace and all...

The realtor tried her best to convince us that the floors were very expensive european hardwood.  Uhh.. but she couldn't explain why they painted it white and then rustic sanded it. 

Way overpriced in my opinion.

We didn't even want to see that house because from the pictures on redfin it looked like the owner was high on something.  Plus, I agree it is REALLY overpriced.  I find it funny when a realtor tries to convince potential buyers that a certain upgrade or design choice was "very expensive."  Do we really look that naive?   :o

I've only seen one house in my life where I thought, "you know, this house is perfect, I wouldn't change a thing"...  it was a nicely remodeled house in North Tustin that was selling for $1.1M.   I've been looking for so long to realize that opinions on home design are never the same.   So personally, I'd rather buy a home that NEEDS to be updated and hope to negotiate from there.   A lot of sellers thow on ugly pre-fab granite which comes with a standard ugly bull-nose edge and say "highly upgraded with granite countertops" and expect a higher price.   I would have preferred it if they left it with whatever was there before.    So yeah, the Northwood Pointe homes need updating, but so do most.   Otherwise you might end up with this...

http://www.redfin.com/CA/Irvine/23-Straw-Flower-92620/home/4789395


Just curious which house you liked as far as design in North Tustin.  The reason why I ask is because I think overall, the Americanized Asian-Americans have somewhat similar tastes as far as home design and upgrades.  For instance, the 25 Torrey Pine is a good example.  We also bid on that property (which in hindsight we strongly regret after realizing how shady those realtors were and are) because it already had all of the upgrades that were tasteful.  (That saves a lot of time, fighting with the spouse, etc.)  I couldn't have made better decisions on design myself. 

So, in the most perfect universe I think we're waiting for a home in Northwood Pointe that has an owner who has similar tastes as that Torrey Pine type of home and has upgraded accordingly.  But wishful thinking, right?  That Strawflower house was upgraded with modern design choices that we felt looked cheap but were meant to look expensive.  The broker there tried to convince us that the upgrades were expensive.  Again, I feel like if you have to sit there and tell all of the potential buyers that the upgrades were "very expensive," then you've done something wrong somewhere.  Plus, it backs to a street. 

I agree that in that regard it's better to just get a Northwood Pointe home with NOTHING upgraded so that you're not paying for it, but that's the thing about these owners.  They list the homes as if they're already upgraded but they're not.

I HEART Northwood Pointe.  Believe me.  It gives me warm and fuzzy feelings but then there are some really lame things going on there.  Take a look at this house.   

http://www.redfin.com/CA/Irvine/15-Candlewood-92620/home/4790470

We saw 15 Candlewood and we are familiar enough with Northwood Pointe (we've studied all of the floorplans closely enough) to know that this house is NOT 2,350 sq ft.  It doesn't even hit 2,200.  The price per sq ft on this house would be north of $500/sq ft using the actual square footage.  Are we in a new construction in Newport Beach?  This is what kills me and chills our desire to buy in Northwood Pointe.  The artificial inflation on sale prices, plus overstated SQ FT of lot and home on redfin and MLS make it really unappealing to do business there.     

Nothwood Pointe for us has a classic neighborhood feel.  The mature trees and the largeer lots are nice.  We loved the trail too.  We actually like having a formal dining room and living room for the extra space and love the spiral staircases.  The problem is that the houes we saw all require work andcwhen buying at the top of your range....new starts to make more sense.  We have decided that irvine is a compromise no mattervwhich home you buy.  A least with new we can be happy about the new home feel. We are seriously consideringMaricopa.  The good news is thatbit doesn't seem to be selling quickly!
 
As much as I love Northwood Pointe, we are now considering Maricopa too.  We like Plan 2 the most but Plan 1 is appetizing since the base price is so low.  However, I am wary about why Maricopa is not selling well.  I feel like I've been so trigger-shy for so long now that I am beginning to OVERTHINK the home purchase.  I'm wondering whether Maricopa would be a hard sell in the resale market because the designs are not popular or if it's presently just the economic climate that's making them hard to sell.   

We'll probably end up buying Maricopa Plan 2 unless a reasonable Northwood Pointe seller comes onto the redfin scene. 

 
 
 

 

 

I wish I could find the flyer, I have it in my den somewhere...   We saved it because my wife said if we ever had a chance to work on a house, that's what she'd use as a base.   Stylewise, Id have to call it a modern and elegant take on french country.   not the french country with all the blues and whites, but whites, reds and golds with dark accents.   ill look for the listing to share.   different from torrey pine, but yes we liked the house. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: akim997 on April 17, 2011, 11:36:59 PM
i know the house on candelwood, its near our old daycare lady's house.   i like that street that sits across from canyon view elementary.   
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: akim997 on April 19, 2011, 03:51:17 PM
Torrey Pines part II?

http://www.redfin.com/CA/Irvine/28-Secret-Gdn-92620/home/5931498

Nicely appointed house in Camelia...  they will definitely try to leverage off the $865K sale price of Torrey Pine to gouge a buyer on this property...  $367 per foot....   The housing market in Irvine is ???
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on April 19, 2011, 03:55:48 PM
Torrey Pines part II?

http://www.redfin.com/CA/Irvine/28-Secret-Gdn-92620/home/5931498

Nicely appointed house in Camelia...  they will definitely try to leverage off the $865K sale price of Torrey Pine to gouge a buyer on this property...  $367 per foot....   The housing market in Irvine is ???
Don't you love the end of the description..."Only ONE at this Price! *"   On the bright side, they will have free food (Jalapenos)  at their broker open tomorrow from 11am to 2pm.  My buyers who were runner-ups on Torrey Pine might drop by and say hello.  haha
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: SecretGarden on April 19, 2011, 10:29:26 PM
Definitely didn't like the way the realtors for Torrey Pine dealt with the buyers for that deal.  Heard about what they were doing and as a bidder in that deal, those realtors were real shady.  Namely, what's up with disclosing to the potential buyers the highest bid as they were rolling in, so that they could start a bidding war.  Naughty, naughty.  ???   

I wouldn't want to do business with those realtors, they would bring bad karma to any deal they're involved with.     

I thought it was so funny how they cut and pasted the description for the Torrey Pine house for the Secret Garden listing.  I don't think this Secret Garden Camelia house is as desirable a location because even though it backs up to a greenbelt, the greenbelt backs up to Trabuco. 

 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on April 19, 2011, 11:19:33 PM
Definitely didn't like the way the realtors for Torrey Pine dealt with the buyers for that deal.  Heard about what they were doing and as a bidder in that deal, those realtors were real shady.  Namely, what's up with disclosing to the potential buyers the highest bid as they were rolling in, so that they could start a bidding war.  Naughty, naughty.  ???   

I wouldn't want to do business with those realtors, they would bring bad karma to any deal they're involved with.     

I thought it was so funny how they cut and pasted the description for the Torrey Pine house for the Secret Garden listing.  I don't think this Secret Garden Camelia house is as desirable a location because even though it backs up to a greenbelt, the greenbelt backs up to Trabuco. 

 
Her and Mike Dunn should team up...they would become the shadiest team in the industry.  Then you'd see the square footage of the Secret Garden home being 2,600sf on a 5,000sf lot.  haha
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ucla bruin on April 20, 2011, 08:16:44 AM
Maybe I'll stop by, eat some free food, use the restroom.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on April 20, 2011, 09:01:00 AM
... use the restroom.
Number TWO!!! I double-dog dare ya.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ucla bruin on April 20, 2011, 09:10:47 AM
(http://i977.photobucket.com/albums/ae257/steve777_07/challenge-accepted.png)

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Soylent Green Is People on April 20, 2011, 11:43:14 AM
At least drop a Baby Ruth in each bathrooms bowl. Make sure to hide the wrappers properly.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on April 20, 2011, 12:31:20 PM
At least drop a Baby Ruth in each bathrooms bowl. Make sure to hide the wrappers properly.
Caddyshack tech!!!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: uciguy on April 20, 2011, 12:58:38 PM
Sorry to post on topic, but I overheard the following conversation while walking through the stonegate models last week.

Ponzi 1: Hey, long time no see.  You looking to buy one of these?
Ponzi 2: Nah, just scoping out the competition.  Our house was on the market for a while, but you just can't compete when [the Irvine company] is selling these way under market.
Ponzi 1: Same here.  Guess we'll try again later this year.

Seems to me like the owners of the type of houses many of us are actually looking for (4br/3ba) are still totally convinced that their houses are worth 2006 prices.  Since they aren't going to be as squeezed for space as those of us looking to get into something bigger, they can just remain blissfully ignorant and wait for a sucker to come along and buy their house for way too much.  In the meantime, the rest of us end up scrambling for the few that come to market at reasonable prices, or contemplating living by a landfill and freeway.  This sucks.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on April 20, 2011, 02:21:33 PM
Sorry to post on topic, but I overheard the following conversation while walking through the stonegate models last week.

Ponzi 1: Hey, long time no see.  You looking to buy one of these?
Ponzi 2: Nah, just scoping out the competition.  Our house was on the market for a while, but you just can't compete when [the Irvine company] is selling these way under market.
Ponzi 1: Same here.  Guess we'll try again later this year.

Seems to me like the owners of the type of houses many of us are actually looking for (4br/3ba) are still totally convinced that their houses are worth 2006 prices.  Since they aren't going to be as squeezed for space as those of us looking to get into something bigger, they can just remain blissfully ignorant and wait for a sucker to come along and buy their house for way too much.  In the meantime, the rest of us end up scrambling for the few that come to market at reasonable prices, or contemplating living by a landfill and freeway.  This sucks.
Under market?  haha  Not after you add in upgrades and landscaping.  Those Stonegate homes are priced for perfection. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: shadax on April 20, 2011, 02:51:06 PM
Sorry to post on topic, but I overheard the following conversation while walking through the stonegate models last week.

Ponzi 1: Hey, long time no see.  You looking to buy one of these?
Ponzi 2: Nah, just scoping out the competition.  Our house was on the market for a while, but you just can't compete when [the Irvine company] is selling these way under market.
Ponzi 1: Same here.  Guess we'll try again later this year.

Seems to me like the owners of the type of houses many of us are actually looking for (4br/3ba) are still totally convinced that their houses are worth 2006 prices.  Since they aren't going to be as squeezed for space as those of us looking to get into something bigger, they can just remain blissfully ignorant and wait for a sucker to come along and buy their house for way too much.  In the meantime, the rest of us end up scrambling for the few that come to market at reasonable prices, or contemplating living by a landfill and freeway.  This sucks.

I love it when people say "market value".  If TIC thought they could get more, they'd charge more.  In fact,  does anyone know if the subsequent phases of the Stonegate went up in price?  Apples to Apples maybe not available I know, since I heard they had some forced upgrades.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on April 20, 2011, 02:59:19 PM
I think ps9 in his Maricopa/LV thread said Maricopa went up $700. LV went up $10k from Phase 1 to Phase 3.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: shadax on April 20, 2011, 03:14:39 PM
I think ps9 in his Maricopa/LV thread said Maricopa went up $700. LV went up $10k from Phase 1 to Phase 3.

The LV increase isn't too surprising, I think as you go east in that development the prices will go up...Phase 1/2 are the "worst" lots.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: villagepeople on April 20, 2011, 08:27:35 PM
In fact,  does anyone know if the subsequent phases of the Stonegate went up in price?  Apples to Apples maybe not available I know, since I heard they had some forced upgrades.

the base price of san mateo from phase 1 to 3 went up $1000... $500 each phase... but you are correct all of them had upgrades picked out.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on April 22, 2011, 03:28:02 PM
Torrey Pines part II?

http://www.redfin.com/CA/Irvine/28-Secret-Gdn-92620/home/5931498

Nicely appointed house in Camelia...  they will definitely try to leverage off the $865K sale price of Torrey Pine to gouge a buyer on this property...  $367 per foot....   The housing market in Irvine is ???

I took a look at this property the other day and it's a far cry from the Torrey Pine property.  The selling agents like to say that it's upgraded, but with different type of upgrades vs. the Torrey Pine property.  This property definitely doesn't have any builder done upgrades.  The travertine installation looks very poor and the paint job is terrible (take a look at the edges).  Also, the bathrooms and laundry room have vinyl flooring!  Countertops are cultured marble or ceramic tiles (except for the basic color granite in kitchen).  I guess the most annoying thing about this property is that the downstairs room is actually a den/office.  There is no door!  I'm not sure how you would install a door since the hallway has a curved ceiling.  I'd be shocked if someone buys this property for the asking price of $849k.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: iacrenter on April 22, 2011, 05:21:53 PM
Torrey Pines part II?

http://www.redfin.com/CA/Irvine/28-Secret-Gdn-92620/home/5931498

Nicely appointed house in Camelia...  they will definitely try to leverage off the $865K sale price of Torrey Pine to gouge a buyer on this property...  $367 per foot....   The housing market in Irvine is ???

I took a look at this property the other day and it's a far cry from the Torrey Pine property.... I'd be shocked if someone buys this property for the asking price of $849k.

Don't you know Irvine is the Land of FCBs! This property will be sold sold by Easter  ;)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: freedomcm on April 23, 2011, 11:18:26 AM
Vinyl!!!!

the horror!!!!!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: rent on April 30, 2011, 09:15:51 AM
http://www.redfin.com/CA/Irvine/20-Windchime-92603/home/5894873

$543/sqft?!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on April 30, 2011, 12:36:11 PM
The smaller the units, the higher the $/sft... especially in premium areas.

That's why $/sft is tough metric to use.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: shokunin on April 30, 2011, 03:25:31 PM
What is up with Tri-Star Realty and Carl Wuestehube?  Seem like he's a paid-for proxy MLS lister?  It's like a FSBO but on MLS?  Wouldn't that be somewhat against the rules to be on MLS as an agent representing a property, but then have no fiduciary responsibilities on representation?  Seems like I see his name quite often with WTF asking prices.  I guess the homeowners are setting these WTF prices without a realtor to put a reality check in them...
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Homer_Simpson on May 02, 2011, 08:29:08 AM
Torrey Pines part II?

http://www.redfin.com/CA/Irvine/28-Secret-Gdn-92620/home/5931498

Nicely appointed house in Camelia...  they will definitely try to leverage off the $865K sale price of Torrey Pine to gouge a buyer on this property...  $367 per foot....   The housing market in Irvine is ???

I took a look at this property the other day and it's a far cry from the Torrey Pine property.  The selling agents like to say that it's upgraded, but with different type of upgrades vs. the Torrey Pine property.  This property definitely doesn't have any builder done upgrades.  The travertine installation looks very poor and the paint job is terrible (take a look at the edges).  Also, the bathrooms and laundry room have vinyl flooring!  Countertops are cultured marble or ceramic tiles (except for the basic color granite in kitchen).  I guess the most annoying thing about this property is that the downstairs room is actually a den/office.  There is no door!  I'm not sure how you would install a door since the hallway has a curved ceiling.  I'd be shocked if someone buys this property for the asking price of $849k.

I have to agree with you there. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on May 03, 2011, 10:26:29 PM
28 Secret Garden has been delisted.  Guess the recent closed sales and pending short sale scared off the seller.  I would say the property is worth about $800k.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: IndieDev on May 03, 2011, 10:38:10 PM
I would say the property is worth about $800k.

Based on what? Local rents and median salaries? It's actually worth a lot less. I'm not surprised they delisted it.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ocbuyer on May 07, 2011, 12:18:13 PM
saw this, too..and agree..must be the worst remodel I've ever seen. They've removed the graceful arches in the hallways and turned them into low square ones, moved all the electrical outlets to the hideous floorboards, closed off the wall between the living and dining, making both spaces seem smaller and darker, removed the fireplace in the family room, ..flooring is odd, the sink in the powder room odder. i wonder about the quality of the remodel, too..seems sloppy...and worry about the integrity of the walls / house given what they've done..

the lot is very nice, though.

On the flip side, this house http://www.redfin.com/CA/Irvine/23-Woodhaven-Ln-92620/home/4790132 (http://www.redfin.com/CA/Irvine/23-Woodhaven-Ln-92620/home/4790132) was sooo oddly remodeled, that the wife and I *HAD* to see the open house yesterday.

Redfin had the prior listing when owners bought still available (click on the price/listing history area) and the house used to look quite normal with nicely painted walls, carpet, fireplace and all...

The realtor tried her best to convince us that the floors were very expensive european hardwood.  Uhh.. but she couldn't explain why they painted it white and then rustic sanded it.  Then the entire house had every single electrical outlet moved to the baseboards.  But the baseboards weren't nice baseboards, since 7-8" baseboards are hard to come by.  Instead whoever installed the baseboards simply cut and painted strips of MDF and as needed and of course, had to cut out holes for the newly placed electrical outlets. 

Positive points, had a 3WCG and huge (relatively) lot.  Way overpriced in my opinion.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on May 06, 2012, 08:16:19 AM
http://www.redfin.com/CA/Irvine/65-Winding-Way-92620/home/5959025

(http://media.cdn-redfin.com/photo/45/bigphoto/151/W12057151_15_0.jpg)
1.3 million, maybe it's one of those IHS baby houses

(http://media.cdn-redfin.com/photo/45/bigphoto/151/W12057151_33_0.jpg)
do we really need this pic?  at least keep the lid down! Is the pee catcher included in the 1.3 mil?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeshopper on May 06, 2012, 12:02:10 PM
I would be ashamed to live next to a neighbor like this one. $1.3 m and $100k of decoration got them this. I checked out the other photos. The rooms and towels everywhere look like a refugee camp or the towels remind me another .............. nevermind. Get rid of the extra refrigerators in the garage and in the yard.
http://www.redfin.com/CA/Irvine/65-Winding-Way-92620/home/5959025

(http://media.cdn-redfin.com/photo/45/bigphoto/151/W12057151_15_0.jpg)
1.3 million, maybe it's one of those IHS baby houses

(http://media.cdn-redfin.com/photo/45/bigphoto/151/W12057151_33_0.jpg)
do we really need this pic?  at least keep the lid down! Is the pee catcher included in the 1.3 mil?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on August 26, 2012, 10:50:03 PM
This seller must think we are back in the good old days of 2005:

http://www.redfin.com/CA/Irvine/18-Bayview-92614/home/4692617

Over $500/sf?  Let's see if anyone bites.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: selena.tran on September 02, 2012, 04:12:30 PM
The seller of this one, and the listing agent of course, must have been thinking that the market now is even better than 2005. They bought it in 2005 for 720k and now listed it for 729k...

I found this one in the search coz I am looking for Westpark house.

http://www.redfin.com/CA/Irvine/4-Bahia-92614/home/4659657 (http://www.redfin.com/CA/Irvine/4-Bahia-92614/home/4659657)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: flipper on September 03, 2012, 12:40:20 PM
The seller of this one, and the listing agent of course, must have been thinking that the market now is even better than 2005. They bought it in 2005 for 720k and now listed it for 729k...

I found this one in the search coz I am looking for Westpark house.

http://www.redfin.com/CA/Irvine/4-Bahia-92614/home/4659657 (http://www.redfin.com/CA/Irvine/4-Bahia-92614/home/4659657)

Yes, the market is good and westpark houses are selling at 2005 price. Listed at $729k and the seller may take offers at $710k. The comps are selling around that price range:
http://www.redfin.com/CA/Irvine/10-Alexandria-92614/home/4661217
http://www.redfin.com/CA/Irvine/17-Alexandria-92614/home/4661296

In addition, this property backs to a park and has no neighbors on the back. This should have $10k-20k premium.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on September 11, 2012, 10:49:11 PM
Saw a WTF price this morning for a resale Camelia Plan 2 - $888k!  Selling agent is one of our favorites - Monica. 

http://www.redfin.com/CA/Irvine/25-Secret-Gdn-92620/home/5931522

If I had to guess, I would say this property will close around $845k.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on September 12, 2012, 12:39:23 AM
Saw a WTF price this morning for a resale Camelia Plan 2 - $888k!  Selling agent is one of our favorites - Monica. 

http://www.redfin.com/CA/Irvine/25-Secret-Gdn-92620/home/5931522

If I had to guess, I would say this property will close around $845k.
"Priced 2 Steal" ummmm not really.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: sega on September 14, 2012, 11:24:29 PM
Saw a WTF price this morning for a resale Camelia Plan 2 - $888k!  Selling agent is one of our favorites - Monica. 

http://www.redfin.com/CA/Irvine/25-Secret-Gdn-92620/home/5931522

If I had to guess, I would say this property will close around $845k.
"Priced 2 Steal" ummmm not really.

They forgot to add the last part: "Priced 2 Steal Your Money"
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: iacrenter on February 13, 2013, 01:11:34 PM
Only $602/sqft for a Woodbridge home. Buy now or be priced out forever.

4 Bedroom/2 Bath, 2077sqft

http://www.redfin.com/CA/Irvine/2-Mallard-92604/home/4687576
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on February 13, 2013, 01:13:38 PM
Woodbridge has some crazy asking prices... and Lyon's The Branches project is one of them. :)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on February 13, 2013, 01:22:53 PM
Is it just me or do crown mouldings on a slant looks weird?  Nice pics and presentation though.. and yes it is still WTF.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: SoCal on February 13, 2013, 01:45:34 PM
Is it just me or do crown mouldings on a slant looks weird?  Nice pics and presentation though.. and yes it is still WTF.

I agree with you. It's personal preference but I don't like it on a vaulted ceiling either. Crown molding is a traditional design element. Using it in that style is completely out of character.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Homer_Simpson on February 19, 2013, 11:37:12 AM
yeah it does look a little weird.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: iacrenter on February 19, 2013, 06:14:18 PM
Only $602/sqft for a Woodbridge home. Buy now or be priced out forever.

4 Bedroom/2 Bath, 2077sqft

http://www.redfin.com/CA/Irvine/2-Mallard-92604/home/4687576

So apparently there are some buyers who don't care about price. The property is now in Pending Status--Backup Offers accepted. I smell an all cash buyer.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on February 19, 2013, 07:41:10 PM
I unprofessionally feel we're in WTF land again...

http://www.redfin.com/CA/Irvine/203-Mantle-92618/home/28931706 (Woodbury East condo listed for over $400/sq ft, miraculously became a SFH overnight, and a STUNNING view of the 133)

http://www.redfin.com/CA/Irvine/27-Snowdrop-Tree-92606/home/7202244 (googled wainscoting, cute kid on the wall, the comps will speak for themselves)

Hopefully an all cash offer will take these off the market...
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on February 19, 2013, 08:13:00 PM
So the bottom is gone?

Where was I?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on February 19, 2013, 08:21:51 PM
Talking about chips all day :)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on February 19, 2013, 08:49:30 PM
I unprofessionally feel we're in WTF land again...

http://www.redfin.com/CA/Irvine/203-Mantle-92618/home/28931706 (Woodbury East condo listed for over $400/sq ft, miraculously became a SFH overnight, and a STUNNING view of the 133)


Wow, almost 200k over the sold price from 2011!  Great timing since the owners will hit the 2 year capital gains exclusion if someone buys the property.  Lot size is pretty impressive for a detached condo though..
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: fluffy on February 20, 2013, 10:38:42 AM
i remember mantle is santa cruz community... its zoned medium-high... the later santa cruz units i remember had a expanded california room incentive which actualy made it EXTREMELY tempting at the price tag they were selling it at last year (i remember at a little more than 650k but not quite 700k)... this particular unit doesnt even have it... the only alt was san marcos in stonegate (zoned medium) at around 700k a year ago... haha who knew...  i was about to pull the trigger on one of these santa cruz units on bronze st... haha having greedy neighbors is not particularly 'bad' thing...
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on March 07, 2013, 08:58:30 AM
http://www.redfin.com/CA/Irvine/27-Early-Lgt-92620/home/5930944

Almost $450/sq ft, don't see comps that can support this, must be WOOing (no pun intended) for a FCB
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: OCgasman on March 07, 2013, 09:50:31 AM
http://www.redfin.com/CA/Irvine/27-Early-Lgt-92620/home/5930944

Almost $450/sq ft, don't see comps that can support this, must be WOOing (no pun intended) for a FCB

That's one of the best backyards I've ever seen in a resale in that price range for Irvine.  Probably accounts for a lot of the asking price premium, looks like they spent over $200k for the yard alone.   Beautiful yard, worth the premium...<shrug>, I dunno, but that property is beautiful inside and out.  No affiliation with seller, blah, blah, blah...

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on March 07, 2013, 10:00:34 AM
Maybe that's MikeInIrvine's place? Oh wait... he bought in Woodbury not Northwood II (or maybe that's his second home that his wife bought). :)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Liar Loan on March 07, 2013, 10:43:21 AM
http://www.redfin.com/CA/Irvine/27-Early-Lgt-92620/home/5930944

Almost $450/sq ft, don't see comps that can support this, must be WOOing (no pun intended) for a FCB

That's one of the best backyards I've ever seen in a resale in that price range for Irvine.  Probably accounts for a lot of the asking price premium, looks like they spent over $200k for the yard alone.   Beautiful yard, worth the premium...<shrug>, I dunno, but that property is beautiful inside and out.  No affiliation with seller, blah, blah, blah...

Dude, nice party pad.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on March 07, 2013, 10:45:03 AM
Whoah... interesting media room:

(http://media.cdn-redfin.com/photo/45/bigphoto/481/PW13036481_15_1.jpg)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Liar Loan on March 07, 2013, 10:51:28 AM
Whoah... interesting media room:

Ok, that's it... I want it.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: daedalus on March 07, 2013, 02:20:10 PM
All that house with only a 2 car garage on a mediocre-sized lot?  Meh.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: cowlemon on March 10, 2013, 10:25:32 PM
http://www.redfin.com/CA/Irvine/67-Plantation-92620/home/17467497

The last one house with the same floor plan sold for $700K.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on March 10, 2013, 11:00:33 PM
http://www.redfin.com/CA/Irvine/67-Plantation-92620/home/17467497

The last one house with the same floor plan sold for $700K.

Almost bought one of these Stonetrees while back.  Floorplan is ok, I believe not all Stonetrees are the same, some have a front yard depending on their location in Woodbury.  I don't see any upgrades that justify the price but then this is 3/2013.. totally different than 12/2012 when the other one sold for $700k (that one was originally purchase for just over a mil for a Stonetree! ouch!).

http://www.redfin.com/CA/Irvine/26-Long-Fellow-92620/home/12253208
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on March 11, 2013, 12:51:05 AM
So this seller purchased the home about 3 years ago and is now asking for over $350k above their purchase price...

http://www.redfin.com/CA/Irvine/40-Nighthawk-92604/home/4688361

Nice upgrades with a larger than average lot in a very good location in Woodbridge, but over $1m?  I guess if The Branches can get over $1m, the sellers think this home can too.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: abcd1234 on March 11, 2013, 06:22:30 AM
I can't believe this sold for $1.2 million ($578/sq foot)

http://www.redfin.com/CA/Irvine/2-Mallard-92604/home/4687576
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: iacrenter on March 11, 2013, 06:27:35 AM
I can't believe this sold for $1.2 million ($578/sq foot)

http://www.redfin.com/CA/Irvine/2-Mallard-92604/home/4687576

Damn! Irvine is back to some bublelicous pricing.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on March 11, 2013, 09:02:34 AM
I can't believe this sold for $1.2 million ($578/sq foot)

http://www.redfin.com/CA/Irvine/2-Mallard-92604/home/4687576

Cash buyer too!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: thedude111222 on March 11, 2013, 01:18:35 PM
So this seller purchased the home about 3 years ago and is now asking for over $350k above their purchase price...

http://www.redfin.com/CA/Irvine/40-Nighthawk-92604/home/4688361

Nice upgrades with a larger than average lot in a very good location in Woodbridge, but over $1m?  I guess if The Branches can get over $1m, the sellers think this home can too.

Shootin myself in the foot right now looking at that asking price.  Was within a heartbeat of offering slightly higher than what it sold for when it was on the market in 2010...Looked for nearly 5 years for a single story in woodbridge, and we loved the lot, location, and actually really like the bones of that floorplan...But was scared off by the work that home needed.  It was original owners who neglected it largely, I remember a rather overpowering mildewy/old people smell that permeated the house.  Regardless to say the current owners went through a rather heroic effort both inside and outside...We estimated at the time we'd have to put about $100k to do everything we wanted to do...which was slightly less than what the current owners did based on the redfin pics
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on March 11, 2013, 01:48:05 PM
.... mildewy/old people smell?  Lovely, I'm eating here...
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: cowlemon on March 11, 2013, 09:07:20 PM
http://www.redfin.com/CA/Irvine/67-Plantation-92620/home/17467497

The last one house with the same floor plan sold for $700K.

Almost bought one of these Stonetrees while back.  Floorplan is ok, I believe not all Stonetrees are the same, some have a front yard depending on their location in Woodbury.  I don't see any upgrades that justify the price but then this is 3/2013.. totally different than 12/2012 when the other one sold for $700k (that one was originally purchase for just over a mil for a Stonetree! ouch!).

http://www.redfin.com/CA/Irvine/26-Long-Fellow-92620/home/12253208

I prefer Long Fellow since it faces a park while this one faces a small courtyard.  I almost bought the Long Fellow one last Oct, but ultimately went with a Portisol plan 1 for the front and backyards.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: AA on March 12, 2013, 12:51:39 PM
Single Family Homes in Irvine will be priced at around $450 to $500 per SF by the peak selling season this year.  Buy now while you have the chance....
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on March 12, 2013, 10:31:07 PM
(http://i53.photobucket.com/albums/g69/mmania12/MotherofGod-1_zpsdf264fc6.jpg)

I can't believe this sold for $1.2 million ($578/sq foot)

http://www.redfin.com/CA/Irvine/2-Mallard-92604/home/4687576
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jayl23 on March 13, 2013, 12:13:05 AM
Cue Randy Moss saying - "Straight cash homey..."   8)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: qwerty on March 13, 2013, 12:46:41 AM
Cue Randy Moss saying - "Straight cash homey..."   8)


This is one my favorite quotes ever. Have used it for years.  The majority of the time people don't know I'm quoting him.  I try to use it whenever possible.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: SoCal on March 13, 2013, 08:46:30 AM
I just noticed that Redfin feature on that home's link called: "What it takes to win an offer near (zip code)". Interesting. The agents give the deets. You can ask them more questions about their offers that were either accepted or declined.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jayl23 on March 13, 2013, 01:34:08 PM
I just noticed that Redfin feature on that home's link called: "What it takes to win an offer near (zip code)". Interesting. The agents give the deets. You can ask them more questions about their offers that were either accepted or declined.

I'm pretty sure all it takes to win an offer is  8):

(http://ak7.picdn.net/shutterstock/videos/2880439/preview/stock-footage-suitcase-full-of-money-included-alpha-matte.jpg)

Keep stacking them suitcases, and you'll win pretty quickly.  :D
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: cowlemon on March 13, 2013, 06:34:14 PM
http://www.redfin.com/CA/Irvine/67-Plantation-92620/home/17467497

The last one house with the same floor plan sold for $700K.

Almost bought one of these Stonetrees while back.  Floorplan is ok, I believe not all Stonetrees are the same, some have a front yard depending on their location in Woodbury.  I don't see any upgrades that justify the price but then this is 3/2013.. totally different than 12/2012 when the other one sold for $700k (that one was originally purchase for just over a mil for a Stonetree! ouch!).

http://www.redfin.com/CA/Irvine/26-Long-Fellow-92620/home/12253208

I prefer Long Fellow since it faces a park while this one faces a small courtyard.  I almost bought the Long Fellow one last Oct, but ultimately went with a Portisol plan 1 for the front and backyards.

It's pending only after 8 days.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: fluffy on March 14, 2013, 05:24:32 PM
damn... these prices are pretty crazy...

but then on the flipside, higher prices means more debt... and in our debt driven monetary system means economic "stimulation"... system is skewed to benefit homeowners lol, just sucks to be a renter
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: furioussugar on March 15, 2013, 12:49:35 PM
I can't believe this sold for $1.2 million ($578/sq foot)

http://www.redfin.com/CA/Irvine/2-Mallard-92604/home/4687576

Damn! Irvine is back to some bublelicous pricing.
Yes, but these sellers still lost $$$ in the deal after commissions.....
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on March 15, 2013, 09:28:10 PM
Is it just me or a lot of the WTF listings close with a Chinese sounding buyers agent?  Thank you Mao!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: fumbling on March 15, 2013, 10:06:46 PM
http://www.redfin.com/CA/Irvine/27-Early-Lgt-92620/home/5930944

Almost $450/sq ft, don't see comps that can support this, must be WOOing (no pun intended) for a FCB

Apparently comps don't matter any more, this is now sales pending...if it closes near the asking price, would this be a new high for northwood 2?  I don't remember northwood 2 homes selling for this much even at the mid-2000s peak ...
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on March 16, 2013, 11:42:30 AM
Apparently comps don't matter any more, this is now sales pending...if it closes near the asking price, would this be a new high for northwood 2?  I don't remember northwood 2 homes selling for this much even at the mid-2000s peak ...

The speed of the recovery is unbelievable.  Look at the taxable value of the property. $985k!  Now it's going to sell for 50% more than the assessed value!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on March 16, 2013, 12:33:30 PM
Apparently comps don't matter any more, this is now sales pending...if it closes near the asking price, would this be a new high for northwood 2?  I don't remember northwood 2 homes selling for this much even at the mid-2000s peak ...

The speed of the recovery is unbelievable.  Look at the taxable value of the property. $985k!  Now it's going to sell for 50% more than the assessed value!
Comparing the taxable value of a property to the listing/sales price is worthless mainly because of Prop 13. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on March 16, 2013, 03:07:03 PM
Apparently comps don't matter any more, this is now sales pending...if it closes near the asking price, would this be a new high for northwood 2?  I don't remember northwood 2 homes selling for this much even at the mid-2000s peak ...

The speed of the recovery is unbelievable.  Look at the taxable value of the property. $985k!  Now it's going to sell for 50% more than the assessed value!
Comparing the taxable value of a property to the listing/sales price is worthless mainly because of Prop 13. 

Not for this example though since Prop 13 doesn't even come into the picture.  Property was purchased for 1.4 million.  So with Prop 13, the most it can go up is 2% per year from this starting price.  If the property drops, it can get reassessed back to the original price + 2% gain/year the following year if the comps justify it. 

My original point was that the comps the county assessor used had this property priced at $985k.  I know it's not a perfect science, but it is somewhat telling about the speed of the housing recovery (now bubble, I guess) since the price gets reassessed every year.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on March 29, 2013, 09:11:30 PM
lots of WTFs in full force.. here's a new winner..

http://www.redfin.com/CA/Irvine/71-Nighthawk-92604/home/4687739
fuzzy pics......check
mention of "entertainer's dream"......check (after paying this price, I will need to charge people to come visit me)
head scratching $578/sq ft price......check (I love Woodbridge, but not this much)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on March 29, 2013, 09:27:51 PM
lots of WTFs in full force.. here's a new winner..

http://www.redfin.com/CA/Irvine/71-Nighthawk-92604/home/4687739
fuzzy pics......check
mention of "entertainer's dream"......check (after paying this price, I will need to charge people to come visit me)
head scratching $578/sq ft price......check (I love Woodbridge, but not this much)

You know what the worst part is....NO FULL DRIVEWAY for $1.2m.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Cubic Zirconia on March 29, 2013, 09:47:56 PM
lots of WTFs in full force.. here's a new winner..

http://www.redfin.com/CA/Irvine/71-Nighthawk-92604/home/4687739
fuzzy pics......check
mention of "entertainer's dream"......check (after paying this price, I will need to charge people to come visit me)
head scratching $578/sq ft price......check (I love Woodbridge, but not this much)


Wow! So what kind of a contract do the realtor and owner have in such cases? He is making a LOT of money of this house if it sells. How do owners tolerate such listings? Don't they all sit at the table, go through what's being posted on the MLS? Or is there something I am missing?

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jayl23 on March 30, 2013, 11:58:26 AM
That just looks like the owner's "MAKE ME MOVE" price.  Another one fishing for a loaded FCB.

(http://i.i.com.com/cnwk.1d/i/tim//2010/04/01/image6353380x_370x278.jpg)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on March 30, 2013, 12:06:55 PM
no more fuzzy pics....but I'm still scratching my head.....
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: abcd1234 on March 30, 2013, 12:35:36 PM
Nighthawk is a really busy street with too many cars parked on the curb.  It's too crowded feeling.  These prices lately in WB are more than in TRock!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: daedalus on March 30, 2013, 01:34:58 PM
Both Zillow and Eppraisal peg it around $750k.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: fumbling on April 06, 2013, 11:44:55 PM
http://www.redfin.com/CA/Irvine/27-Early-Lgt-92620/home/5930944

Almost $450/sq ft, don't see comps that can support this, must be WOOing (no pun intended) for a FCB

Apparently comps don't matter any more, this is now sales pending...if it closes near the asking price, would this be a new high for northwood 2?  I don't remember northwood 2 homes selling for this much even at the mid-2000s peak ...

I was wrong speculating that it would close "near" the asking price...it closed at $1.7 million, $101,000 over asking...
http://www.redfin.com/CA/Irvine/27-Early-Lgt-92620/home/5930944
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on April 07, 2013, 12:02:12 AM
http://www.redfin.com/CA/Irvine/27-Early-Lgt-92620/home/5930944

Almost $450/sq ft, don't see comps that can support this, must be WOOing (no pun intended) for a FCB

Apparently comps don't matter any more, this is now sales pending...if it closes near the asking price, would this be a new high for northwood 2?  I don't remember northwood 2 homes selling for this much even at the mid-2000s peak ...

I was wrong speculating that it would close "near" the asking price...it closed at $1.7 million, $101,000 over asking...
http://www.redfin.com/CA/Irvine/27-Early-Lgt-92620/home/5930944

Wow, I wish I had buyers like that where money is no object....I'd be closing on homes left and right.  There's almost nothing that surprises me anymore when it comes to Irvine real estate.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on April 07, 2013, 04:50:00 AM
I was wrong speculating that it would close "near" the asking price...it closed at $1.7 million, $101,000 over asking...
http://www.redfin.com/CA/Irvine/27-Early-Lgt-92620/home/5930944


One other important note is that the buyer purchased in cash.  What's the over/under on the buyer being Chinese?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on April 07, 2013, 09:21:18 AM
@woodburyowner...you seem to know all the cash purchases in town..how so?  If you're an agent, that's obvious...but if you have no connections...how can you find that out?  short escrow days?  flyer touts from selling agents?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on April 07, 2013, 11:30:56 AM
@woodburyowner...you seem to know all the cash purchases in town..how so?  If you're an agent, that's obvious...but if you have no connections...how can you find that out?  short escrow days?  flyer touts from selling agents?
It says in the Redfin link (under Listing Information) how the property was purchased (cash, conventional, FHA, etc).
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on April 07, 2013, 12:08:35 PM
@woodburyowner...you seem to know all the cash purchases in town..how so?  If you're an agent, that's obvious...but if you have no connections...how can you find that out?  short escrow days?  flyer touts from selling agents?
It says in the Redfin link (under Listing Information) how the property was purchased (cash, conventional, FHA, etc).

Ahhh... Got it... So the right shoe goes on the right foot...I blame my non IUSD education
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on April 07, 2013, 12:58:50 PM
That just looks like the owner's "MAKE ME MOVE" price.  Another one fishing for a loaded FCB.

(http://i.i.com.com/cnwk.1d/i/tim//2010/04/01/image6353380x_370x278.jpg)
This seller is definitely fishing for a sucker....errrr buyer....

http://www.redfin.com/CA/Irvine/115-Lattice-92603/home/5902661
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Irvine_Dreamer on April 07, 2013, 01:43:35 PM
This seller is definitely fishing for a sucker....errrr buyer....
http://www.redfin.com/CA/Irvine/115-Lattice-92603/home/5902661
Wow $610/sq ft!!!
This should be illegal!
I'll sell my SG home right now, if they pay me $610/sq ft.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on April 07, 2013, 01:46:44 PM
This seller is definitely fishing for a sucker....errrr buyer....
http://www.redfin.com/CA/Irvine/115-Lattice-92603/home/5902661
Wow $610/sq ft!!!
This should be illegal!
I'll sell my SG home right now, if they pay me $610/sq ft.
There will be buyers at The Branches and at Willow Bend that will spend over $600/sf once they are done with upgrades and landscaping. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: iacrenter on April 07, 2013, 03:39:15 PM
This seller is definitely fishing for a sucker....errrr buyer....
http://www.redfin.com/CA/Irvine/115-Lattice-92603/home/5902661
Wow $610/sq ft!!!
This should be illegal!
I'll sell my SG home right now, if they pay me $610/sq ft.

A $1.5M luxry home in the hills and they stage the garage as a living space?!? Ghetto Fabulous  8)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on April 07, 2013, 04:50:49 PM
Saw that... It's a grandpa cave :)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on April 07, 2013, 07:28:22 PM
I've always wondered about this model and the 4th bedroom.  It's rare that the original buyer upgrades to a bedroom and it's normally left as a loft.  However, agents always list it as a bedroom even though there is an open wall, no door or closet.  Isn't this against some sort MLS rule?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: nosuchreality on April 08, 2013, 02:10:54 PM
Saw that... It's a grandpa cave :)

Or is it their real furniture.  The rest of the house looks unlived staged.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on April 09, 2013, 10:12:15 AM
Another one. Flipped for $200K more in less than a couple of months.

http://www.redfin.com/CA/Irvine/93-Costa-Brava-92620/home/12255341

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: JasonTheArtist on April 09, 2013, 10:24:52 AM
Another one. $200K profit in a couple of months.

http://www.redfin.com/CA/Irvine/93-Costa-Brava-92620/home/12255341

I feel terrible for the previous owners. If they only waited a few months later...
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Vinster on April 09, 2013, 10:44:31 AM
Another one. $200K profit in a couple of months.

http://www.redfin.com/CA/Irvine/93-Costa-Brava-92620/home/12255341

The same realtor sold/is selling the home both times? The buying agent was someone else in the previous sale.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on April 09, 2013, 10:48:58 AM
I wanted to buy this place, but had no chance competing with multiple cash buyers.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: JasonTheArtist on April 09, 2013, 11:00:47 AM
Back to 2006 Prices?

http://www.redfin.com/CA/Irvine/187-Wild-Lilac-92620/home/12253572
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on April 09, 2013, 11:10:18 AM
Back to 2006 Prices?

http://www.redfin.com/CA/Irvine/187-Wild-Lilac-92620/home/12253572

Looks like it. For this price I would at least expect granite counter tops with back splash........
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Homer_Simpson on April 09, 2013, 11:11:12 AM
I definitely think its back to 2006 prices in certain hoods of Irvine.  :D
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: cowlemon on April 10, 2013, 09:49:55 PM
http://www.redfin.com/CA/Irvine/70-Loganberry-92620/home/5958942?src=insider-report

Was sold in Jan for low 900k, and is now listed for 1m.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Soylent Green Is People on April 11, 2013, 08:28:46 AM
Just as in 2006, it's a "selling to the bigger fool" market. Pretty soon we're going to run out of those buyers. Then what?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on April 11, 2013, 08:36:09 AM
http://www.redfin.com/CA/Irvine/60-Bamboo-92620/home/5931309

Camelia Plan 2, $939k, pending in 5 days!  Previous model match sale was back in Oct. for $888k.  Prices are ramping up fast!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: cowlemon on April 11, 2013, 11:15:50 AM
Just as in 2006, it's a "selling to the bigger fool" market. Pretty soon we're going to run out of those buyers. Then what?

(http://cdni.wired.co.uk/620x258/k_n/Nuclear-explosion-674281_620x258.jpg)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: whatever on April 11, 2013, 12:29:42 PM
We'll never run out of buyers.  Before that happens the government will force banks to give million dollar loans to Walmart cashiers.  They just have to promise to pay it back two hundred years from now.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Soylent Green Is People on April 11, 2013, 12:41:03 PM
Hey, if it's now possible to finance a car payment over 96 months (google it as I'm too lazy to get it done now) this bad banking behavior is going to morph into 60 year mortgages so that Walmartians can now be entitled with a new home.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: cowlemon on April 11, 2013, 03:51:57 PM
Hey, if it's now possible to finance a car payment over 96 months (google it as I'm too lazy to get it done now) this bad banking behavior is going to morph into 60 year mortgages so that Walmartians can now be entitled with a new home.

http://editorial.autos.msn.com/blogs/autosblogpost.aspx?post=dc0ef557-83d2-4734-9bd7-01ca4481eee0 (http://editorial.autos.msn.com/blogs/autosblogpost.aspx?post=dc0ef557-83d2-4734-9bd7-01ca4481eee0)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on April 14, 2013, 09:31:06 AM
http://www.redfin.com/CA/Irvine/84-Loganberry-92620/home/5958930

Listed for $780k, sold for $830k!  $486/sq ft.  Wow.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on April 14, 2013, 09:38:37 AM
http://www.redfin.com/CA/Irvine/84-Loganberry-92620/home/5958930

Listed for $780k, sold for $830k!  $486/sq ft.  Wow.

Don't forget all cash! :)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on April 14, 2013, 10:09:51 AM
http://www.redfin.com/CA/Irvine/84-Loganberry-92620/home/5958930

Listed for $780k, sold for $830k!  $486/sq ft.  Wow.

Don't forget all cash! :)

Forgot to add that point.  Makes the price even more impressive.  There might have been an even higher financed offer on the table for the seller.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on April 14, 2013, 12:41:34 PM
http://www.redfin.com/CA/Irvine/84-Loganberry-92620/home/5958930

Listed for $780k, sold for $830k!  $486/sq ft.  Wow.
Wow is right...I didn't think it'd go over $800k.  That's gotta be getting close to peak pricing.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehusky on April 14, 2013, 02:51:04 PM
Wow, didn't think this one would be going PENDING anytime soon but there must be some really crazy people out there.   :P

Anyone want to guess what this one will close for?  I'm guessing $950K?  I'm sure I'll be humbled.

http://www.redfin.com/CA/Irvine/12-Pienza-92606/home/4629453
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on April 14, 2013, 05:18:35 PM
Wow, didn't think this one would be going PENDING anytime soon but there must be some really crazy people out there.   :P

Anyone want to guess what this one will close for?  I'm guessing $950K?  I'm sure I'll be humbled.

http://www.redfin.com/CA/Irvine/12-Pienza-92606/home/4629453
$1,000,000 to $1,050,000 would be my guess.  I'm sure you'll be happy about that.   ;)  :D
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on April 14, 2013, 08:19:43 PM
Sold for $1.08m in 2007... so doesn't seem like it will be that far.

Gives me a little regret... but our savings gives me solace.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on April 14, 2013, 08:53:32 PM
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!). 


Date   Description   Price   Change   $/sqft   Source   
04/13/2013   Listed for sale   $598,000   33.2%   $391   RE/MAX GRAND CENTRAL   
12/10/2011   Listing removed   $449,000   --   $294   REMAX Premier Realty   
12/01/2011   Price change   $449,000   -2.2%   $294   REMAX Premier Realty   
11/11/2011   Listed for sale   $459,000   -13.2%   $300   REMAX Premier Realty   
11/02/2010   Listing removed   $529,000   -2.7%   $346   REMAX Premier Realty   
07/31/2010   Listed for sale   $543,900   --   $356   REMAX Premier Realty 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on April 14, 2013, 09:41:36 PM
http://www.redfin.com/CA/Irvine/84-Loganberry-92620/home/5958930

Listed for $780k, sold for $830k!  $486/sq ft.  Wow.

Not sure why the same model sold for $80k lower just a few weeks earlier.

http://www.redfin.com/CA/Irvine/32-Rising-Sun-92620/home/5959166

I would be pissed if I were the original owner of this property.  Todd Muradian really dropped the ball on this listing.  I'm sure he doesn't care since he received dual commission on the listing.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on April 14, 2013, 11:46:19 PM
What's crazy is those are the smaller Portisol models. The biggers ones, were selling for mid $700ks just a few years ago... low inventory bubble!!!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on April 15, 2013, 06:01:11 AM
The mighty has fallen..

http://www.redfin.com/CA/Irvine/8-Rainstar-92614/home/4693819

Not a bad price except for the REDRUM REDRUM REDRUM then it becomes WTF...renters beware (does it need to be disclosed to them?)

So in this market everything gets sold... Come on 8 Tioga
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on April 15, 2013, 09:02:37 AM
The mighty has fallen..

http://www.redfin.com/CA/Irvine/8-Rainstar-92614/home/4693819

Not a bad price except for the REDRUM REDRUM REDRUM then it becomes WTF...renters beware (does it need to be disclosed to them?)

So in this market everything gets sold... Come on 8 Tioga
Holy Unicorn Bubble! The death house sold for $845k? We were thinking it wouldn't sell even close to that. Amazing.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: SoCal on April 15, 2013, 09:18:55 AM
The mighty has fallen..

http://www.redfin.com/CA/Irvine/8-Rainstar-92614/home/4693819

Not a bad price except for the REDRUM REDRUM REDRUM then it becomes WTF...renters beware (does it need to be disclosed to them?)

So in this market everything gets sold... Come on 8 Tioga
Holy Unicorn Bubble! The death house sold for $845k? We were thinking it wouldn't sell even close to that. Amazing.

Which death is this one again? I don't remember. Is it the man who put his wife's dead body in the bathtub on ice - or was it the closet?... and told their daughter she was away on a trip?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jayl23 on April 15, 2013, 10:14:29 AM
The mighty has fallen..

http://www.redfin.com/CA/Irvine/8-Rainstar-92614/home/4693819

Not a bad price except for the REDRUM REDRUM REDRUM then it becomes WTF...renters beware (does it need to be disclosed to them?)

So in this market everything gets sold... Come on 8 Tioga
Holy Unicorn Bubble! The death house sold for $845k? We were thinking it wouldn't sell even close to that. Amazing.

The magical feng shui power of the number 8 shall drive away all evil spirits!!!!   :D
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on April 15, 2013, 10:17:19 AM
The mighty has fallen..

http://www.redfin.com/CA/Irvine/8-Rainstar-92614/home/4693819

Not a bad price except for the REDRUM REDRUM REDRUM then it becomes WTF...renters beware (does it need to be disclosed to them?)

So in this market everything gets sold... Come on 8 Tioga
Holy Unicorn Bubble! The death house sold for $845k? We were thinking it wouldn't sell even close to that. Amazing.

Which death is this one again? I don't remember. Is it the man who put his wife's dead body in the bathtub on ice - or was it the closet?... and told their daughter she was away on a trip?

No that was Tioga (offed the MIL too).   Rainstar was the ex boyfriend hostage/murder that occurred around the icicle gun incident at Trabuco Grove
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jayl23 on April 15, 2013, 10:37:48 AM
The mighty has fallen..

http://www.redfin.com/CA/Irvine/8-Rainstar-92614/home/4693819

Not a bad price except for the REDRUM REDRUM REDRUM then it becomes WTF...renters beware (does it need to be disclosed to them?)

So in this market everything gets sold... Come on 8 Tioga
Holy Unicorn Bubble! The death house sold for $845k? We were thinking it wouldn't sell even close to that. Amazing.

Which death is this one again? I don't remember. Is it the man who put his wife's dead body in the bathtub on ice - or was it the closet?... and told their daughter she was away on a trip?

No that was Tioga (offed the MIL too).   Rainstar was the ex boyfriend hostage/murder that occurred around the icicle gun incident at Trabuco Grove

http://latimesblogs.latimes.com/lanow/2009/02/one-dead-anothe.html
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on April 16, 2013, 03:30:19 PM
Another one. Flipped for $200K more in less than a couple of months.

http://www.redfin.com/CA/Irvine/93-Costa-Brava-92620/home/12255341

Looks like this place got sold for $605K with a listing price of $599K. The seller bought this place less that 2 months ago for $399K. Must be nice. It is for rent now for $2,850 by the latest owner.

When the house was listed for $399K it was described as "a detached condo with 1,328 SF". When it got listed again for $605K it was described as "a single family home with 1,400SF". Just saying............


http://www.redfin.com/CA/Irvine/93-Costa-Brava-92620/home/12255341

http://www.zillow.com/homedetails/93-Costa-Brava-Irvine-CA-92620/79816603_zpid/
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: cowlemon on April 17, 2013, 08:27:26 AM
http://www.redfin.com/CA/Irvine/67-Canal-92620/home/7210072 (http://www.redfin.com/CA/Irvine/67-Canal-92620/home/7210072)

1500 sq ft for $700K detached condo.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: The California Court Company on April 17, 2013, 01:45:50 PM
that's just ridiculous. I might as well drop by the open house to see if packed with FCBs

http://www.redfin.com/CA/Irvine/67-Canal-92620/home/7210072 (http://www.redfin.com/CA/Irvine/67-Canal-92620/home/7210072)

1500 sq ft for $700K detached condo.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: cowlemon on April 17, 2013, 02:38:59 PM
that's just ridiculous. I might as well drop by the open house to see if packed with FCBs

http://www.redfin.com/CA/Irvine/67-Canal-92620/home/7210072 (http://www.redfin.com/CA/Irvine/67-Canal-92620/home/7210072)

1500 sq ft for $700K detached condo.


Yup..my reaction was....

http://www.youtube.com/watch?v=fTHL0MAWkmY
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jayl23 on April 17, 2013, 02:52:53 PM
You should, and don't forget to bring a suitcase with a few bills sticking out, just to see all the other FCBs' reactions, as well as the agent's.   :D

You just gotta have fun with this!!   :P

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on April 17, 2013, 05:52:23 PM
and its probably going to be sold over asking all cash.....
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: cowlemon on April 18, 2013, 02:22:42 AM
http://www.redfin.com/CA/Irvine/10-Pacific-Crst-92602/home/5859052

1,676 sq ft for $869,900
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: zubs on April 18, 2013, 12:32:46 PM
Some of us owners are on fishing expeditions....

trying to catch us a big FCB!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on April 18, 2013, 01:01:42 PM
So interesting how this thread has exploded... gotta be a mini-bubble... curse you Irvine Unicorn for vomiting on my 3CWG dreams!!!!

(http://www.internetmarketing.com/wp-content/uploads/unicorn-6001.jpg)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: iacrenter on April 18, 2013, 03:57:19 PM
So interesting how this thread has exploded... gotta be a mini-bubble... curse you Irvine Unicorn for vomiting on my 3CWG dreams!!!!

That is the million dollar question. How long will this RE trend continue? Is this price appreciation sustainable?

Interesting article in the NY Times talking about how Quantitative Easing by the Fed is leading to rampant speculation and NOT sustainable growth in the economy:

http://dealbook.nytimes.com/2013/04/17/efforts-to-revive-the-economy-lead-to-worries-of-a-bubble
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Liar Loan on April 18, 2013, 04:19:39 PM
So interesting how this thread has exploded... gotta be a mini-bubble... curse you Irvine Unicorn for vomiting on my 3CWG dreams!!!!

That is the million dollar question. How long will this RE trend continue? Is this price appreciation sustainable?

Interesting article in the NY Times talking about how Quantitative Easing by the Fed is leading to rampant speculation and NOT sustainable growth in the economy:

http://dealbook.nytimes.com/2013/04/17/efforts-to-revive-the-economy-lead-to-worries-of-a-bubble

I think only debate is whether it's a mini-bubble or a full-sized bubble.

The OC median home price for March is up 26% over last year.  Three zips in Irvine show greater than 40% price increases.

http://www.dqnews.com/Charts/Monthly-Charts/OC-Register-Charts/ZIPOCR.aspx
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on April 18, 2013, 05:16:43 PM
http://www.youtube.com/watch?v=mlCiDEXuxxA
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on April 18, 2013, 07:39:10 PM
So interesting how this thread has exploded... gotta be a mini-bubble... curse you Irvine Unicorn for vomiting on my 3CWG dreams!!!!

(http://www.internetmarketing.com/wp-content/uploads/unicorn-6001.jpg)

Where did you get that pic from?  At this rate, you'll better off building your own 3CWG, versus one pre made.  I would focus on neighborhoods with 3CWG but the original owners opted for 2CWG.   Comb thru IrvineRealtors floorplans....I would focus on late 90s neighborhoods, highlight hoods with 3CWG, set your Redfin radar, and wait.. Or go knock on the door of some potential 2CWG convert to 3CWG owners and give a make me move price..
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: cowlemon on April 19, 2013, 07:45:45 AM
It went pending in 7 days.

that's just ridiculous. I might as well drop by the open house to see if packed with FCBs

http://www.redfin.com/CA/Irvine/67-Canal-92620/home/7210072 (http://www.redfin.com/CA/Irvine/67-Canal-92620/home/7210072)

1500 sq ft for $700K detached condo.


Yup..my reaction was....

http://www.youtube.com/watch?v=fTHL0MAWkmY
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: SoCal on April 19, 2013, 08:54:15 AM
http://www.youtube.com/watch?v=mlCiDEXuxxA

Don Ho!! I love him.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: The California Court Company on April 19, 2013, 06:41:46 PM
my guess is some Asian buyer saw this thread and was urged to overpay in order not to have too many people "violate" his/her future home during the open house. typical Asian mentality.

It went pending in 7 days.

that's just ridiculous. I might as well drop by the open house to see if packed with FCBs

http://www.redfin.com/CA/Irvine/67-Canal-92620/home/7210072 (http://www.redfin.com/CA/Irvine/67-Canal-92620/home/7210072)

1500 sq ft for $700K detached condo.


Yup..my reaction was....

http://www.youtube.com/watch?v=fTHL0MAWkmY
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: The California Court Company on April 22, 2013, 11:50:09 AM
This Asian FCB loves gold more than real-estate? does plummeting gold price hurt Irvine real-estate as Asian buyers look to invest their money elsewhere?

or was this just a tactic to stall open house?

my guess is some Asian buyer saw this thread and was urged to overpay in order not to have too many people "violate" his/her future home during the open house. typical Asian mentality.

It went pending in 7 days.

that's just ridiculous. I might as well drop by the open house to see if packed with FCBs

http://www.redfin.com/CA/Irvine/67-Canal-92620/home/7210072 (http://www.redfin.com/CA/Irvine/67-Canal-92620/home/7210072)

1500 sq ft for $700K detached condo.

Back on the market after 3 days in Pending.  Perhaps these speculative investor/buyers are coming to their senses after a crazy run up in the past 3 months.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on April 22, 2013, 07:33:51 PM
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.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on April 22, 2013, 09:38:33 PM
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.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on April 22, 2013, 10:34:31 PM
http://www.redfin.com/CA/Irvine/24-Early-Lgt-92620/home/5930926

This might be the largest backyard I've ever seen in Irvine!  Serious baller status.  What are the odds another cash buyer picks this one up?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: scubasteve on April 23, 2013, 10:04:23 AM
This is nuts... wonder if I can convince the wife to sell our place and sit on cash... lol
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jayl23 on April 23, 2013, 10:14:37 AM
http://www.redfin.com/CA/Irvine/24-Early-Lgt-92620/home/5930926

This might be the largest backyard I've ever seen in Irvine!  Serious baller status.  What are the odds another cash buyer picks this one up?

My prediction: metaphysical certitude, pending in one week!!   :P
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: iacrenter on April 23, 2013, 03:28:10 PM
http://www.redfin.com/CA/Irvine/67-Plantation-92620/home/17467497

The last one house with the same floor plan sold for $700K.

Almost bought one of these Stonetrees while back.  Floorplan is ok, I believe not all Stonetrees are the same, some have a front yard depending on their location in Woodbury.  I don't see any upgrades that justify the price but then this is 3/2013.. totally different than 12/2012 when the other one sold for $700k (that one was originally purchase for just over a mil for a Stonetree! ouch!).

http://www.redfin.com/CA/Irvine/26-Long-Fellow-92620/home/12253208

I prefer Long Fellow since it faces a park while this one faces a small courtyard.  I almost bought the Long Fellow one last Oct, but ultimately went with a Portisol plan 1 for the front and backyards.

It's pending only after 8 days.

Another Stonetree home on the market:

$1M!!! Crazy pricing but people are buying.
http://www.redfin.com/CA/Irvine/163-Great-Lawn-92620/home/21931103

I'm guessing they are looking for mid $900K
A plan 2 at 67 Plantation closed at $945K
http://www.redfin.com/CA/Irvine/67-Plantation-92620/home/17467497
And plan 2, 67 Great Lawn is Pending Status
http://www.redfin.com/CA/Irvine/67-Great-Lawn-92620/home/7210910
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Cubic Zirconia on April 23, 2013, 03:55:22 PM
million dollar condo????

http://www.redfin.com/CA/Irvine/67-Plantation-92620/home/17467497

The last one house with the same floor plan sold for $700K.

Almost bought one of these Stonetrees while back.  Floorplan is ok, I believe not all Stonetrees are the same, some have a front yard depending on their location in Woodbury.  I don't see any upgrades that justify the price but then this is 3/2013.. totally different than 12/2012 when the other one sold for $700k (that one was originally purchase for just over a mil for a Stonetree! ouch!).

http://www.redfin.com/CA/Irvine/26-Long-Fellow-92620/home/12253208

I prefer Long Fellow since it faces a park while this one faces a small courtyard.  I almost bought the Long Fellow one last Oct, but ultimately went with a Portisol plan 1 for the front and backyards.

It's pending only after 8 days.

Another Stonetree home on the market:

$1M!!! Crazy pricing but people are buying.
http://www.redfin.com/CA/Irvine/163-Great-Lawn-92620/home/21931103

I'm guessing they are looking for mid $900K
A plan 2 at 67 Plantation closed at $945K
http://www.redfin.com/CA/Irvine/67-Plantation-92620/home/17467497
And plan 2, 67 Great Lawn is Pending Status
http://www.redfin.com/CA/Irvine/67-Great-Lawn-92620/home/7210910
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jayl23 on April 23, 2013, 08:08:16 PM
Yikes... the Irvine unicorn mojo is strong  8)

http://www.redfin.com/CA/Irvine/27-Lucero-W-92620/home/4786012
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Cubic Zirconia on April 23, 2013, 10:21:47 PM
Yikes... the Irvine unicorn mojo is strong  8)

http://www.redfin.com/CA/Irvine/27-Lucero-W-92620/home/4786012

Not too bad. It's a SFR, and it has a yard!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: thedude111222 on April 23, 2013, 10:57:57 PM
http://www.redfin.com/CA/Irvine/3-Brookfield-92604/home/4688042

Maybe not a WTF asking price, but definitely a WTH?!?  Seems sellers got a little over ambitious seeing their neighbor's condo (http://www.redfin.com/CA/Irvine/19-Brookfield-92604/home/4688059) go pending in less than a week at the same asking price...nevermind the fact that the other unit is a better location (corner lot with street access) and 150 sq ft larger with an extra bedroom and considerably more by way of upgrades (from what I can tell: kitchen, window, shutters, closet doors).  It's cool though, everyone loves paying $406/sqft for a 36 year old condo with no A/C.  At what point do you just go to Stonegate and buy a Santa Maria town home? at least you get air conditioning and a garage...
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on April 23, 2013, 11:52:56 PM
http://www.redfin.com/CA/Irvine/3-Brookfield-92604/home/4688042

Maybe not a WTF asking price, but definitely a WTH?!?  Seems sellers got a little over ambitious seeing their neighbor's condo (http://www.redfin.com/CA/Irvine/19-Brookfield-92604/home/4688059) go pending in less than a week at the same asking price...nevermind the fact that the other unit is a better location (corner lot with street access) and 150 sq ft larger with an extra bedroom and considerably more by way of upgrades (from what I can tell: kitchen, window, shutters, closet doors).  It's cool though, everyone loves paying $406/sqft for a 36 year old condo with no A/C.  At what point do you just go to Stonegate and buy a Santa Maria town home? at least you get air conditioning and a garage...
The seller paid $415k during the bubble days so they are trying to get out and breakeven. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jayl23 on April 24, 2013, 06:47:42 PM
million dollar condo????

Indeed, here's another one... with a sexier address... ;)

http://www.redfin.com/CA/Irvine/102-Spanish-Lace-92620/home/7220030

Looks like another one trying to get out while the gettin' is good.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on April 24, 2013, 07:00:13 PM
million dollar condo????

Indeed, here's another one... with a sexier address... ;)

http://www.redfin.com/CA/Irvine/102-Spanish-Lace-92620/home/7220030

Looks like another one trying to get out while the gettin' is good.

I dont understand. These prices are higher than the peak bubble prices. Someone please explain to me what is happening??? ???
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Cubic Zirconia on April 24, 2013, 07:00:50 PM
million dollar condo????

Indeed, here's another one... with a sexier address... ;)

http://www.redfin.com/CA/Irvine/102-Spanish-Lace-92620/home/7220030

Looks like another one trying to get out while the gettin' is good.

YAY @ separate living room, but what-the for that other door opening in the porch! YAY @ the retreat to Master Bedroom and the deck..
Million dollar worthy? Not so much for people like me and IHO who still have memories of $600k short sales of such detached condos.

We did see a Spanish Lace house when we were buying. Address is sexy, but that banging sound next door wasn't ;-) There was a lot of construction around at that time, and we didn't want to deal with that noise.

I think one of the Spanish Lace condo we saw had black granite counter tops and white cabinets, dark and wide wood flooring. Something about it was very beautiful.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Cubic Zirconia on April 24, 2013, 07:02:39 PM
million dollar condo????

Indeed, here's another one... with a sexier address... ;)

http://www.redfin.com/CA/Irvine/102-Spanish-Lace-92620/home/7220030

Looks like another one trying to get out while the gettin' is good.

I dont understand. These prices are higher than the peak bubble prices. Someone please explain to me what is happening??? ???

Psst.. FCBs. All cash transactions are to blame.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Cubic Zirconia on April 24, 2013, 07:25:50 PM
http://www.redfin.com/CA/Irvine/36-Bombay-92620/home/5978049

Last Sale:
Nov 30, 2012    $680,000    
Listed:  $929,000

Six months, $249,000. Condominium. I want to drink what they are drinking.

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jayl23 on April 24, 2013, 08:23:35 PM
http://www.redfin.com/CA/Irvine/36-Bombay-92620/home/5978049

Last Sale:
Nov 30, 2012    $680,000    
Listed:  $929,000

Six months, $249,000. Condominium. I want to drink what they are drinking.

It's called "Jeffrey Road Exhaust", known to cause delusions of home price appreciation.  :D

I actually did seriously consider another unit on Bombay back in 2011, nice interior, but the tiny lot, lack of driveway and road noise were major negatives.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on April 25, 2013, 12:18:22 AM
http://www.redfin.com/CA/Irvine/36-Bombay-92620/home/5978049

Last Sale:
Nov 30, 2012    $680,000    
Listed:  $929,000

Six months, $249,000. Condominium. I want to drink what they are drinking.

It's called "Jeffrey Road Exhaust", known to cause delusions of home price appreciation.  :D

I actually did seriously consider another unit on Bombay back in 2011, nice interior, but the tiny lot, lack of driveway and road noise were major negatives.

$249k equity worth of negatives?  ???
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Homer_Simpson on April 25, 2013, 07:44:50 AM
http://www.redfin.com/CA/Irvine/36-Bombay-92620/home/5978049

Last Sale:
Nov 30, 2012    $680,000    
Listed:  $929,000

Six months, $249,000. Condominium. I want to drink what they are drinking.

It's called "Jeffrey Road Exhaust", known to cause delusions of home price appreciation.  :D

I actually did seriously consider another unit on Bombay back in 2011, nice interior, but the tiny lot, lack of driveway and road noise were major negatives.

$249k equity worth of negatives?  ???

It's Irvine, what'd you expect?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on April 25, 2013, 10:03:37 PM
Over $450/sf for a motorcourt home in Woodbury (does that mean traditional SFR homes will be priced at $500/sf?)...

http://www.redfin.com/CA/Irvine/60-Donovan-92620/home/40101741

Looks like the seller is trying to sell for $200k more than what they bought it for in 2011.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on April 25, 2013, 10:20:53 PM
Over $450/sf for a motorcourt home in Woodbury (does that mean traditional SFR homes will be priced at $500/sf?)...

http://www.redfin.com/CA/Irvine/60-Donovan-92620/home/40101741

Looks like the seller is trying to sell for $200k more than what they bought it for in 2011.

That TV is so high.... my neck hurts just thinking about it.. I guess you can cook and watch at the same time.  And how come Redfin can never find these Montecito homes... always way off on the maps...it's putting it in Northwood near Zion
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on April 25, 2013, 10:30:55 PM
Someone needs to let the seller know that the real estate market is on fire for homes below $1.5m not below $15m....

http://www.redfin.com/CA/Irvine/50-Blue-Heron-92603/home/5899629

It's price almost double of what these type of homes are selling for in Shady Canyon.  Other than looking for a sucker, why waste anyone's time?  If I'm going to spend $1,500/sf+ my neighbor better be the Pacific Ocean.   :D
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on April 25, 2013, 11:13:20 PM
Someone needs to let the seller know that the real estate market is on fire for homes below $1.5m not below $15m....

http://www.redfin.com/CA/Irvine/50-Blue-Heron-92603/home/5899629

It's price almost double of what these type of homes are selling for in Shady Canyon.  Other than looking for a sucker, why waste anyone's time?  If I'm going to spend $1,500/sf+ my neighbor better be the Pacific Ocean.   :D

That's some serious real estate commission if the transaction completes!  Hopefully the buyer uses Redfin :p
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on April 25, 2013, 11:25:12 PM
Someone needs to let the seller know that the real estate market is on fire for homes below $1.5m not below $15m....

http://www.redfin.com/CA/Irvine/50-Blue-Heron-92603/home/5899629

It's price almost double of what these type of homes are selling for in Shady Canyon.  Other than looking for a sucker, why waste anyone's time?  If I'm going to spend $1,500/sf+ my neighbor better be the Pacific Ocean.   :D

That's some serious real estate commission if the transaction completes!  Hopefully the buyer uses Redfin :p
Yup, they are offering a 2.5% commission to the buyer's agent. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on April 26, 2013, 12:04:54 AM
Wow, didn't think this one would be going PENDING anytime soon but there must be some really crazy people out there.   :P

Anyone want to guess what this one will close for?  I'm guessing $950K?  I'm sure I'll be humbled.

http://www.redfin.com/CA/Irvine/12-Pienza-92606/home/4629453
$1,000,000 to $1,050,000 would be my guess.  I'm sure you'll be happy about that.   ;)  :D
Looks like I was being too conservative....it closed a hair over the reduced listing price by....wait for it....a cash buyer. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on April 26, 2013, 11:55:57 AM
Over $450/sf for a motorcourt home in Woodbury (does that mean traditional SFR homes will be priced at $500/sf?)...

http://www.redfin.com/CA/Irvine/60-Donovan-92620/home/40101741

Looks like the seller is trying to sell for $200k more than what they bought it for in 2011.

This is actually a nice house.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on April 26, 2013, 12:45:12 PM
Over $450/sf for a motorcourt home in Woodbury (does that mean traditional SFR homes will be priced at $500/sf?)...

http://www.redfin.com/CA/Irvine/60-Donovan-92620/home/40101741

Looks like the seller is trying to sell for $200k more than what they bought it for in 2011.

This is actually a nice house.
True but not at a nice price.  :P
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on April 26, 2013, 03:03:49 PM
Over $450/sf for a motorcourt home in Woodbury (does that mean traditional SFR homes will be priced at $500/sf?)...

http://www.redfin.com/CA/Irvine/60-Donovan-92620/home/40101741

Looks like the seller is trying to sell for $200k more than what they bought it for in 2011.

This is actually a nice house.
True but not at a nice price.  :P

True, but it is going to be pending soon. lol
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on April 26, 2013, 03:23:48 PM
Over $450/sf for a motorcourt home in Woodbury (does that mean traditional SFR homes will be priced at $500/sf?)...

http://www.redfin.com/CA/Irvine/60-Donovan-92620/home/40101741

Looks like the seller is trying to sell for $200k more than what they bought it for in 2011.

This is actually a nice house.

Have you visited these 3 deep motorcourt behemoths?   
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehusky on April 26, 2013, 03:41:45 PM
Well, that's why you're the top agent and why I should keep my day job.   :P

It might have been you that described it on another thread but how do you determine from Redfin's site as to how the buyer purchased the property (cash, loan, etc.)?  I can guess this one since it closed in like 10 days so there's probably no other way it would have closed that quickly.

Wow, didn't think this one would be going PENDING anytime soon but there must be some really crazy people out there.   :P

Anyone want to guess what this one will close for?  I'm guessing $950K?  I'm sure I'll be humbled.

http://www.redfin.com/CA/Irvine/12-Pienza-92606/home/4629453
$1,000,000 to $1,050,000 would be my guess.  I'm sure you'll be happy about that.   ;)  :D
Looks like I was being too conservative....it closed a hair over the reduced listing price by....wait for it....a cash buyer.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on April 26, 2013, 03:46:00 PM
It might have been you that described it on another thread but how do you determine from Redfin's site as to how the buyer purchased the property (cash, loan, etc.)?  I can guess this one since it closed in like 10 days so there's probably no other way it would have closed that quickly.
Redfin has financing information under the "Listing Information" section for closed sales, for Pienza it says:
Quote
Buyer Financing: Cash
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on April 26, 2013, 03:55:29 PM
Go to the "LISTING INFORMATION" section and look at the "BUYER FINANCING" part....that will tell you either it was a cash buyer or financed buyer.  Looks like IHO beat me to the punch.

I was a little surprised surprised that the home closed for as much as it did since it was on the market for a while.  Just shows how strong the market is right now.

Well, that's why you're the top agent and why I should keep my day job.   :P

It might have been you that described it on another thread but how do you determine from Redfin's site as to how the buyer purchased the property (cash, loan, etc.)?  I can guess this one since it closed in like 10 days so there's probably no other way it would have closed that quickly.

Wow, didn't think this one would be going PENDING anytime soon but there must be some really crazy people out there.   :P

Anyone want to guess what this one will close for?  I'm guessing $950K?  I'm sure I'll be humbled.

http://www.redfin.com/CA/Irvine/12-Pienza-92606/home/4629453
$1,000,000 to $1,050,000 would be my guess.  I'm sure you'll be happy about that.   ;)  :D
Looks like I was being too conservative....it closed a hair over the reduced listing price by....wait for it....a cash buyer.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on April 26, 2013, 04:14:48 PM
Over $450/sf for a motorcourt home in Woodbury (does that mean traditional SFR homes will be priced at $500/sf?)...

http://www.redfin.com/CA/Irvine/60-Donovan-92620/home/40101741

Looks like the seller is trying to sell for $200k more than what they bought it for in 2011.

This is actually a nice house.

Have you visited these 3 deep motorcourt behemoths?

No, I havent.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jayl23 on April 26, 2013, 08:19:18 PM
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

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on April 26, 2013, 08:22:48 PM
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


Makes total sense as the same model closed for $540k about 3 weeks ago.  lol

http://www.redfin.com/CA/Irvine/65-Canal-92620/home/22735381
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jayl23 on April 26, 2013, 08:36:54 PM
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


Makes total sense as the same model closed for $540k about 3 weeks ago.  lol

http://www.redfin.com/CA/Irvine/65-Canal-92620/home/22735381

This deserves a nomination for the "Crazy Eddie" award...
(http://www.singleparenttravel.net/wp-content/uploads/2009/05/crazyeddie.gif)

It just feels like prices are going parabolic, and that ain't good...  :-\
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: daedalus on April 26, 2013, 08:42:56 PM
It just feels like prices are going parabolic, and that ain't good...  :-\
How else will the pop seem so dramatic?  All bubbles have that in common, don't they?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: SoCal on April 26, 2013, 08:45:34 PM
Are people not embarrassed to pay so much for so little? I would be.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: snowblind40 on April 26, 2013, 09:08:38 PM
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

And then...  This happened...

http://www.redfin.com/CA/Irvine/54-Chantilly-92620/home/7210082

Discuss...
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on April 26, 2013, 09:27:18 PM
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...
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Cubic Zirconia on April 26, 2013, 10:02:09 PM
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...

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.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Cubic Zirconia on April 26, 2013, 10:03:31 PM
Are people not embarrassed to pay so much for so little? I would be.

Let's round it up to a million, shall we?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: aquabliss on April 27, 2013, 02:50:03 AM
Couldn't believe it when I saw this listing:
http://www.redfin.com/CA/Irvine/62-Great-Lawn-92620/home/7218979 (http://www.redfin.com/CA/Irvine/62-Great-Lawn-92620/home/7218979)

I bought the same condo in Woodbury for ~ $675k in Jan 2006.  Still living in it, and was frustrated to see them selling for as low as $430k last year.  Not sure what this one will close for, but felt like a definite WTF price to me, though price sq/ft is not as crazy as a couple of the other postings.



Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: samuroo on April 27, 2013, 09:14:19 AM
http://www.redfin.com/CA/Irvine/45-Rising-Sun-92620/home/5950658

2006 pricing?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: iacrenter on April 27, 2013, 09:34:48 AM
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

And then...  This happened...

http://www.redfin.com/CA/Irvine/54-Chantilly-92620/home/7210082

Discuss...

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.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on April 27, 2013, 09:43:57 AM
http://www.redfin.com/CA/Irvine/45-Rising-Sun-92620/home/5950658

2006 pricing?
Holy shnikeys.

Where are all the bears to tell these people they are crazy?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: snowblind40 on April 27, 2013, 09:49:45 AM
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

And then...  This happened...

http://www.redfin.com/CA/Irvine/54-Chantilly-92620/home/7210082

Discuss...

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.

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?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on April 27, 2013, 10:11:32 AM
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...

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.

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... :) 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: iacrenter on April 27, 2013, 10:26:58 AM
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

And then...  This happened...

http://www.redfin.com/CA/Irvine/54-Chantilly-92620/home/7210082

Discuss...

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.

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?

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.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: iacrenter on April 27, 2013, 10:28:34 AM
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...

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.

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... :) 

PS9,

Enjoy your trip! Be sure to upload some photos to TI from your trip  ;)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on April 27, 2013, 04:49:08 PM
Are people not embarrassed to pay so much for so little? I would be.

Are people not embarrassed to ask so much for so little? I would be.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: snowblind40 on April 28, 2013, 02:25:50 PM
Are people not embarrassed to pay so much for so little? I would be.

Are people not embarrassed to ask so much for so little? I would be.

Why should anyone be embarrassed about making money legally, fairly and honestly? If someone will pay, why not ask?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jayl23 on April 28, 2013, 03:26:52 PM
http://www.redfin.com/CA/Irvine/45-Rising-Sun-92620/home/5950658

2006 pricing?
Holy shnikeys.

Where are all the bears to tell these people they are crazy?

I think most of the bears are doing this:

(http://gs1.wac.edgecastcdn.net/8019B6/data.tumblr.com/tumblr_lm0s12CkVi1qkfkbqo1_250.gif)

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

"RUN ED!!!  RUN!!!!!!!"
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: SoCal on April 29, 2013, 08:38:03 AM
Let's round it up to a million, shall we?


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.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on April 29, 2013, 04:21:33 PM
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 a "0". LOL
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jayl23 on April 29, 2013, 04:29:26 PM
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

LOL, either that or I missed the flash hyperinflation.  :P
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Cubic Zirconia on April 29, 2013, 04:31:53 PM
that's it! I am listing for 6.5 million and retiring! I have a comp now..
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: snowblind40 on April 29, 2013, 04:53:06 PM
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

LOL, either that or I missed the flash hyperinflation.  :P

We should get someone famous to tweet this and take advantage of the flash inflation that would happen and list all our homes!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Cubic Zirconia on April 29, 2013, 04:54:54 PM
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

LOL, either that or I missed the flash hyperinflation.  :P

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

Robert Shiller FTW!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: furioussugar on May 01, 2013, 12:38:56 PM
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)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on May 01, 2013, 12:59:06 PM
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)
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. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on May 01, 2013, 02:07:30 PM
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)
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.

Strange. The listing went from a 4 bedroom when it was sold a few weeks ago to 5 bedrooms in this current listing.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on May 01, 2013, 04:27:53 PM
I know this is from LA but I thought Id post it here.

http://www.redfin.com/CA/Los-Angeles/1132-Le-Gray-Ave-90042/home/7086644

Sold on Oct 18, 2011 for $175,000 and sold on March 8, 2013 for $720,000. Not bad.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Homer_Simpson on May 01, 2013, 06:55:26 PM
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!!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: daedalus on May 03, 2013, 12:06:58 AM
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.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: HomeOwner Irvine on May 03, 2013, 11:39:04 AM
How does $578/SF sound for Woodbridge?

http://www.redfin.com/CA/Irvine/71-Nighthawk-92604/home/4687739 (http://www.redfin.com/CA/Irvine/71-Nighthawk-92604/home/4687739)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on May 03, 2013, 11:53:58 AM
How about $578/SF sound for Woodbridge?

http://www.redfin.com/CA/Irvine/71-Nighthawk-92604/home/4687739 (http://www.redfin.com/CA/Irvine/71-Nighthawk-92604/home/4687739)
AKA "The Branches Effect"
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Larkfield12 on May 05, 2013, 09:01:20 PM
Anyone check out today's open house at 67 Canal and 196 Rhapsody - both in Woodbury?  I think both properties were listed on this thread however it looks as if both properties came down in price over the past week.

Thanks...
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: hamilton on May 05, 2013, 09:45:33 PM
Anyone check out today's open house at 67 Canal and 196 Rhapsody - both in Woodbury?  I think both properties were listed on this thread however it looks as if both properties came down in price over the past week.

Thanks...

PRICE DECREASES!! IT'S THE BEGINNING OF THE END.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on May 06, 2013, 09:38:21 AM
I have also seen a couple of other homes in the market that came down in price in the last couple of weeks.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on May 07, 2013, 08:47:12 AM
This one just came down as well in price this morning. Not a big change, but still.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Homer_Simpson on May 07, 2013, 08:50:58 AM
This one just came down as well in price this morning. Not a big change, but still.

which one?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on May 07, 2013, 10:52:33 AM
Sorry, forgot to past link.

http://www.redfin.com/CA/Irvine/15-Cabazon-92602/unit-21/home/5917638?utm_campaign=instant_listings_update&utm_content=address&utm_medium=email&utm_source=myredfin
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: scubasteve on May 07, 2013, 12:57:15 PM
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

And then...  This happened...

http://www.redfin.com/CA/Irvine/54-Chantilly-92620/home/7210082

Discuss...

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.

Looks like 196 Rhapsody went pending today. The owner is making out like a bandit! I'm have no desire to move, but its real tempting to list my house at a WTF price to see if anyone bites!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Cubic Zirconia on May 07, 2013, 03:37:32 PM
http://www.redfin.com/CA/Irvine/61-Autumn-92602/home/5888991

attached condo at $699,900 with $330 HOA, West Irvine,
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: scubasteve on May 08, 2013, 12:51:34 PM
Here is one in my hood..
http://www.redfin.com/CA/Irvine/96-Peony-92618/home/40103003

Monterey Plan 1
Bought in 2010 for 505k, listed at 650k.

If this sells, I'm putting my almost BK-approved Coronado plan 2 on the market
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: snowblind40 on May 08, 2013, 01:57:15 PM
Here is one in my hood..
http://www.redfin.com/CA/Irvine/96-Peony-92618/home/40103003

Monterey Plan 1
Bought in 2010 for 505k, listed at 650k.

If this sells, I'm putting my almost BK-approved Coronado plan 2 on the market

800 sqft lot with 1600sqft of living space 2 bed/2.5 bath for $650?! WTF indeed!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: The California Court Company on May 08, 2013, 02:06:39 PM
list your home @ $888,888 and I think you will receive multiple offers.

Here is one in my hood..
http://www.redfin.com/CA/Irvine/96-Peony-92618/home/40103003

Monterey Plan 1
Bought in 2010 for 505k, listed at 650k.

If this sells, I'm putting my almost BK-approved Coronado plan 2 on the market
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: The California Court Company on May 08, 2013, 02:07:36 PM
+ 2 common walls. this is beyond WTF.

Here is one in my hood..
http://www.redfin.com/CA/Irvine/96-Peony-92618/home/40103003

Monterey Plan 1
Bought in 2010 for 505k, listed at 650k.

If this sells, I'm putting my almost BK-approved Coronado plan 2 on the market

800 sqft lot with 1600sqft of living space 2 bed/2.5 bath for $650?! WTF indeed!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on May 08, 2013, 05:46:45 PM
Here is one in my hood..
http://www.redfin.com/CA/Irvine/96-Peony-92618/home/40103003

Monterey Plan 1
Bought in 2010 for 505k, listed at 650k.

If this sells, I'm putting my almost BK-approved Coronado plan 2 on the market

Listed as Woodbury, but is really Woodbury East.  Also, is this really considered a single story property?  "You are greeted through a beautiful Foyer that leads upstairs to a grand great room with high vaulted ceilings..."  Sounds like a 2 level to me..

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: hamilton on May 09, 2013, 06:13:13 PM
Here is one in my hood..
http://www.redfin.com/CA/Irvine/96-Peony-92618/home/40103003

Monterey Plan 1
Bought in 2010 for 505k, listed at 650k.

If this sells, I'm putting my almost BK-approved Coronado plan 2 on the market

Listed as Woodbury, but is really Woodbury East.  Also, is this really considered a single story property?  "You are greeted through a beautiful Foyer that leads upstairs to a grand great room with high vaulted ceilings..."  Sounds like a 2 level to me..

Looks like a carriage unit... garage on 1st floor and entire living area on 2nd floor.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Cubic Zirconia on May 13, 2013, 04:47:01 PM
http://www.redfin.com/CA/Irvine/61-Autumn-92602/home/5888991

attached condo at $699,900 with $330 HOA, West Irvine,

Gone pending! It will be interesting to see if this was an all cash purchase.. and where it closes.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on May 13, 2013, 04:54:22 PM
http://www.redfin.com/CA/Irvine/24-Early-Lgt-92620/home/5930926

This might be the largest backyard I've ever seen in Irvine!  Serious baller status.  What are the odds another cash buyer picks this one up?

Just closed $70k over asking - $1,768,800.  All cash... Looks Chinese from the purchase price and buyers agents name.  NW2 seems to be the new Quail Hill!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Cubic Zirconia on May 13, 2013, 05:17:06 PM
http://www.redfin.com/CA/Irvine/24-Early-Lgt-92620/home/5930926

This might be the largest backyard I've ever seen in Irvine!  Serious baller status.  What are the odds another cash buyer picks this one up?

Just closed $70k over asking - $1,768,800.  All cash... Looks Chinese from the purchase price and buyers agents name.  NW2 seems to be the new Quail Hill!

Do you think we will see million dollar condos as a new normal? :)
This thread is by far the most interesting documentation of changing Irvine real estate..
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: abcd1234 on May 14, 2013, 01:25:14 PM
24 Early Light has such a small kitchen for such a large house. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Liar Loan on May 14, 2013, 02:53:44 PM
http://www.redfin.com/CA/Irvine/24-Early-Lgt-92620/home/5930926

This might be the largest backyard I've ever seen in Irvine!  Serious baller status.  What are the odds another cash buyer picks this one up?

Just closed $70k over asking - $1,768,800.  All cash... Looks Chinese from the purchase price and buyers agents name.  NW2 seems to be the new Quail Hill!

Do you think we will see million dollar condos as a new normal? :)
This thread is by far the most interesting documentation of changing Irvine real estate..

So they have a gorgeous community pool but somebody decided to add another pool to the backyard?  What an outstanding use of that large lot size.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on May 14, 2013, 09:12:22 PM
http://www.redfin.com/CA/Irvine/24-Early-Lgt-92620/home/5930926

This might be the largest backyard I've ever seen in Irvine!  Serious baller status.  What are the odds another cash buyer picks this one up?

Just closed $70k over asking - $1,768,800.  All cash... Looks Chinese from the purchase price and buyers agents name.  NW2 seems to be the new Quail Hill!

Do you think we will see million dollar condos as a new normal? :)
This thread is by far the most interesting documentation of changing Irvine real estate..

So they have a gorgeous community pool but somebody decided to add another pool to the backyard?  What an outstanding use of that large lot size.

When you live in this kind of house, you don't want to be seen with the riff raff at the community pool. :P
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on May 15, 2013, 11:34:21 AM
It seems like the home prices in Irvine are starting to stabilize a little. I have noticed a few homes with prices decreases as well as some being on the market for a little longer. A couple of my friends told me that they were told by their agents to make an offer slightly lower than asking. Do you guys feel the same way or is it just me?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: nosuchreality on May 15, 2013, 11:47:23 AM
Most sales stats are showing $/sf of solds has flatlined over the last month and a half or so, but listing prices are running 15-20% above that on a $/sf basis.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on May 15, 2013, 11:54:26 AM
Lots of articles in the paper talking about how prices have jumped from March to May and from 2012 to 2013.

That's the first sign of the Apocalypse.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on May 15, 2013, 12:11:09 PM
Most sales stats are showing $/sf of solds has flatlined over the last month and a half or so, but listing prices are running 15-20% above that on a $/sf basis.

Yes, I noticed that as well. It seems like the homes are initially listed for more and then the prices are reduced when it doesn't get sold quick enough. Also, the interest rates are shooting up. In the last two weeks they went from 3.5% to 3.625% to 3.75%. Based on the action from the last two weeks, 3.875% seems possible in the next few weeks. Below in an example of the increase in monthly mortgage payment.

- $500,000 @ 3.5% for 30 years = $2,245 monthly
- $500,000 @ 3.875% for 30 years = $2,351 monthly
- $106 more

- $477,000 @ 3.875% for 30 years = $2,243 monthly

Keeping the monthly ($2,245) payment the same gets you a house the is $23,000 cheap ($477,000). I dont know if the rising interest rates will have an affect on the home prices since there are a lot of cash buyers in the market.





Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on May 15, 2013, 12:13:08 PM
Lots of articles in the paper talking about how prices have jumped from March to May and from 2012 to 2013.

That's the first sign of the Apocalypse.

I am confused.  ???
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: obirvine on May 15, 2013, 05:32:24 PM
How about this?

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

Property Type:   Residential, Condominium
Attached, 2+ Common Walls
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on May 15, 2013, 05:57:33 PM
Lots of articles in the paper talking about how prices have jumped from March to May and from 2012 to 2013.

That's the first sign of the Apocalypse.

I am confused.  ???
By Apocalypse... I mean Bubble-ocalypse.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on May 15, 2013, 08:55:41 PM
Really???

http://www.redfin.com/CA/Irvine/204-Guinevere-92620/home/7211785?utm_medium=email&utm_content=address&utm_source=myredfin&utm_campaign=instant_listings_update
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on May 15, 2013, 10:01:17 PM
It seems like the home prices in Irvine are starting to stabilize a little. I have noticed a few homes with prices decreases as well as some being on the market for a little longer. A couple of my friends told me that they were told by their agents to make an offer slightly lower than asking. Do you guys feel the same way or is it just me?
Hmmmm, then why did every offer in the past few months that I made on resale properties had multiple offers and all over them sold over comps and over list price?  We are nowhere near price stabilization yet...inventory levels are way too low.  We need inventory levels to increase 2x-3x from today's levels to get to a balanced supply/demand of 4-5 months of inventory.  We are still around 1 month of inventory today.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on May 15, 2013, 10:06:08 PM
How about this?

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

Property Type:   Residential, Condominium
Attached, 2+ Common Walls
One of my buyers bought the same exact floor plan from The New Home Company for $200k less in 2011.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: cowlemon on May 17, 2013, 07:23:05 AM
This one went pending yesterday.

http://www.redfin.com/CA/Irvine/63-Regal-92620/home/7210750?utm_medium=email&utm_campaign=listings_update&utm_source=myredfin&utm_content=address (http://www.redfin.com/CA/Irvine/63-Regal-92620/home/7210750?utm_medium=email&utm_campaign=listings_update&utm_source=myredfin&utm_content=address)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on May 17, 2013, 07:34:26 AM
This one went pending yesterday.

http://www.redfin.com/CA/Irvine/63-Regal-92620/home/7210750?utm_medium=email&utm_campaign=listings_update&utm_source=myredfin&utm_content=address (http://www.redfin.com/CA/Irvine/63-Regal-92620/home/7210750?utm_medium=email&utm_campaign=listings_update&utm_source=myredfin&utm_content=address)

Bookmarking this one..like the decor and color scheme..:)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: borca on May 17, 2013, 08:24:27 AM
Agreed that it's pretty. It looks better than some model homes and almost looks like it's by Photoshop. The photographer/realtor knows what he/she is doing.
But then $830K for a condo/townhouse? Who don't I just go across the street and get a Mendocino from SG then? I'm not being sarcastic, I'm seriously wondering where is the hidden value...
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: LiefinIrvine on May 17, 2013, 09:30:16 AM
Agreed that it's pretty. It looks better than some model homes and almost looks like it's by Photoshop. The photographer/realtor knows what he/she is doing.
But then $830K for a condo/townhouse? Who don't I just go across the street and get a Mendocino from SG then? I'm not being sarcastic, I'm seriously wondering where is the hidden value...

That Makes two of us. What's spl about Woodbury when Mendocino is jus 1 block away???????
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on May 17, 2013, 09:45:29 AM
A vs B village.. amenities.. has Stonegate as a buffer against landfill..

In a few years, as the newness of Stonegate goes away...it will be clearer..
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: cowlemon on May 17, 2013, 09:47:00 AM
Agreed that it's pretty. It looks better than some model homes and almost looks like it's by Photoshop. The photographer/realtor knows what he/she is doing.
But then $830K for a condo/townhouse? Who don't I just go across the street and get a Mendocino from SG then? I'm not being sarcastic, I'm seriously wondering where is the hidden value...

That Makes two of us. What's spl about Woodbury when Mendocino is jus 1 block away???????

Personally, I like the community parks and the urban trails.  I was looking into Maricopa in SG, but ultimately decided to buy a place in Woodbury because there are more pools and green areas.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: JasonTheArtist on May 17, 2013, 09:53:34 AM
Agreed that it's pretty. It looks better than some model homes and almost looks like it's by Photoshop. The photographer/realtor knows what he/she is doing.
But then $830K for a condo/townhouse? Who don't I just go across the street and get a Mendocino from SG then? I'm not being sarcastic, I'm seriously wondering where is the hidden value...

That Makes two of us. What's spl about Woodbury when Mendocino is jus 1 block away???????

Personally, I like the community parks and the urban trails.  I was looking into Maricopa in SG, but ultimately decided to buy a place in Woodbury because there are more pools and green areas.

Woodbury wins against stonegate when you compare amenities and green spaces, but Stonegate wins by a landslide when you compare floorplans and value for your money.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: LiefinIrvine on May 17, 2013, 10:03:37 AM
A vs B village.. amenities.. has Stonegate as a buffer against landfill..

In a few years, as the newness of Stonegate goes away...it will be clearer..


Checked the google map and the landfill is 4.2 miles away from stonegate and 4.6 miles away from Woodbury. Its all the same.

I agree with the amenities but does it command this premium price??? (That too when you can access most of them except for the commons)

Stonegate school is better rated than woodbury. Even i would prefer woodbury, if the prices are same or slightly higher.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: SoCal on May 17, 2013, 10:23:32 AM
Stonegate school is better rated than woodbury. Even i would prefer woodbury, if the prices are same or slightly higher.


It also depends which schedule you prefer. Last I checked, Woodbury is year-round. Stonegate is traditional.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: The California Court Company on May 17, 2013, 10:28:59 AM
don't forget for all the nice amenities in Woodbury, you have to share with the riff-raffs. Apartment dwellers and affordable housing residents all have the same access as the homeowners.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on May 17, 2013, 10:36:42 AM
Aren't there apartments in Stonegate?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: JasonTheArtist on May 17, 2013, 10:37:17 AM
don't forget for all the nice amenities in Woodbury, you have to share with the riff-raffs. Apartment dwellers and affordable housing residents all have the same access as the homeowners.

Is that a negative thing?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: The California Court Company on May 17, 2013, 10:45:11 AM
yes but they don't have access to the private parks. We were debating between buying new or old and decided to try the new neighborhood life style by renting in WB for a couple years. I always enjoyed using the amenities knowing the home owners are paying for it (given there is no difference in rent, I don't feel like I was paying).

Aren't there apartments in Stonegate?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on May 17, 2013, 10:46:51 AM
Agreed that it's pretty. It looks better than some model homes and almost looks like it's by Photoshop. The photographer/realtor knows what he/she is doing.
But then $830K for a condo/townhouse? Who don't I just go across the street and get a Mendocino from SG then? I'm not being sarcastic, I'm seriously wondering where is the hidden value...

You need to factor in the upgrade costs from a base unit.  I'd estimate probably 10-15% on top of what you pay for a new house.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: matchbox on May 17, 2013, 11:10:31 AM
I am an architect that happened to live in the area for a number of years, and would like to offer some of my thoughts and observations purely from an aesthetic land use standpoint.

The detached townhomes of Woodbury have better curb appeal than the motorcourt houses, and even some single family houses currently being offered in the newer villages.  The townhomes have full exposure to the street, with ample curb parking for guests at the front. The garage is rear alley to further enhance the curb appeal giving a formal entry presence at the street front. This particular townhome design has a fore-court entry/ private front yard on top of a large landscaped buffer maintained by the association. It sits on a single loaded street on a shaded historic eucalyptus windrow.

Woodbury detached townhomes have a minimum 10’ separation between one another. The side yard concept contributes to privacy with no windows looking in. Some even have two side yards. In comparison- to appeal to the “traditional” buyer, the motor court homes offer a backyard ~10’ area in the rear. This only gives perception of better value. But the truth is the street frontage, front yard, and therefore curb appeal has been completely eliminated. The separation between the homes has also been compressed. The motorcourt is a more efficient use of salable land that they can label “single family”. Walk down a street of motorcourts and notice how sterile it is when it’s just row upon row of driveways without a front door in view.  Parking and trash situations have already been discussed in this forum.   

Woodbury has better quality design and amenities. There are unique design/ architectural themes found in each designated neighborhood, along with associated gardens and pocket parks that fit the theme down to the detail. It is an A Village that is intended to be a center node of development in the region.

A senior representative from the Irvine Co appealing to Woodbury residents prior to the development of Montecito, and Carmel said that Woodbury is the last of a legacy of high design planning, and implied that future neighborhoods would not have the same quality or detail found in Woodbury. Once build out is complete in the newer villages, I am confident it will become very evident.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: iacrenter on May 17, 2013, 11:30:08 AM
I am an architect that happened to live in the area for a number of years, and would like to offer some of my thoughts and observations purely from an aesthetic land use standpoint...


A refreshing and informative post. Please keep up your analysis and postings on TI.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: JasonTheArtist on May 17, 2013, 11:39:00 AM
I am an architect that happened to live in the area for a number of years, and would like to offer some of my thoughts and observations purely from an aesthetic land use standpoint.

The detached townhomes of Woodbury have better curb appeal than the motorcourt houses, and even some detached houses currently being offered in the newer villages.  The townhomes have full exposure to the street, with ample curb parking for guests at the front. The garage is rear alley to further enhance the curb appeal giving a formal entry presence at the street front. This particular townhome design has a fore-court entry/ private front yard on top of a large landscaped buffer maintained by the association. It sits on a single loaded street on a shaded historic eucalyptus windrow.

Woodbury detached townhomes have a minimum 10’ separation between one another. The side yard concept contributes to privacy with no windows looking in. Some even have two side yards. In comparison- to appeal to the “traditional” buyer, the motor court homes offer a backyard ~10’ area in the rear. This only gives perception of better value. But the truth is the street frontage, front yard, and therefore curb appeal has been completely eliminated. The separation between the homes has also been compressed. The motorcourt is a more efficient use of salable land that they can label “single family”. Walk down a street of motorcourts and notice how sterile it is when it’s just row upon row of driveways without a front door in view.  Parking and trash situations have already been discussed in this forum.   

Woodbury has better quality design and amenities. There are unique design/ architectural themes found in each designated neighborhood, along with associated gardens and pocket parks that fit the theme down to the detail. It is an A neighborhood that is intended to be a center node of development in the region.

A senior representative from the Irvine Co appealing to Woodbury residents prior to the development of Montecito, and Carmel said that Woodbury is the last of a legacy of high design planning, and implied that future neighborhoods would not have the same quality or detail found in Woodbury. Once build out is complete in the newer villages, I am confident it will become very evident.


I 100% agree with you on the aesthetics of the exterior of Woodbury and the homeowners experience when approaching their home, But, based on my experience touring open houses in Woodbury, allot of the floor plans are compartmentalized and seem small and squished. When I toured a motor court home (San Mateo), it was completely opposite, it was very open and spacious. In the end, one must choose which is more important; curb appeal or floor-plan layout.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: borca on May 17, 2013, 12:22:06 PM
You need to factor in the upgrade costs from a base unit.  I'd estimate probably 10-15% on top of what you pay for a new house.

True and thanks. After reading the comments I believe there are pros and cons between WB and SG, for things like cost, amenities, school.... and there is nothing wrong picking either one for whatever reason. Ultimately someone opt to pay for a $3000 bucks LV handbag, some blow the same $$ to a nice trip, and someone like myself just spent $200 on some Legos.  :D

The major reason I bring up Mendocino (SG) VS townhouse in WB (or anywhere) is that Mendocino is SFR, and to me it has big advantage as (well everyone knows but let me state here) SFR has no common wall, easier to sell/finance, cheaper HOA (I think Mendocino is only around $100)...

While, by the same token, if there is a comparable SFR in WB, it might demand a higher price.

Afterall it's all personal choice based on each one's needs and conditions. While WB price was still quite reasonable 6 months ago until I realize all of a sudden the sq/ft price for WB jumps from around $350 to over $400-$420 in a  few months. That might push some of us to SG as a result...
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: cowlemon on May 17, 2013, 12:32:52 PM
I am an architect that happened to live in the area for a number of years, and would like to offer some of my thoughts and observations purely from an aesthetic land use standpoint.

The detached townhomes of Woodbury have better curb appeal than the motorcourt houses, and even some detached houses currently being offered in the newer villages.  The townhomes have full exposure to the street, with ample curb parking for guests at the front. The garage is rear alley to further enhance the curb appeal giving a formal entry presence at the street front. This particular townhome design has a fore-court entry/ private front yard on top of a large landscaped buffer maintained by the association. It sits on a single loaded street on a shaded historic eucalyptus windrow.

Woodbury detached townhomes have a minimum 10’ separation between one another. The side yard concept contributes to privacy with no windows looking in. Some even have two side yards. In comparison- to appeal to the “traditional” buyer, the motor court homes offer a backyard ~10’ area in the rear. This only gives perception of better value. But the truth is the street frontage, front yard, and therefore curb appeal has been completely eliminated. The separation between the homes has also been compressed. The motorcourt is a more efficient use of salable land that they can label “single family”. Walk down a street of motorcourts and notice how sterile it is when it’s just row upon row of driveways without a front door in view.  Parking and trash situations have already been discussed in this forum.   

Woodbury has better quality design and amenities. There are unique design/ architectural themes found in each designated neighborhood, along with associated gardens and pocket parks that fit the theme down to the detail. It is an A neighborhood that is intended to be a center node of development in the region.

A senior representative from the Irvine Co appealing to Woodbury residents prior to the development of Montecito, and Carmel said that Woodbury is the last of a legacy of high design planning, and implied that future neighborhoods would not have the same quality or detail found in Woodbury. Once build out is complete in the newer villages, I am confident it will become very evident.


I 100% agree with you on the aesthetics of the exterior of Woodbury and the homeowners experience when approaching their home, But, based on my experience touring open houses in Woodbury, allot of the floor plans are compartmentalized and seem small and squished. When I toured a motor court home (San Mateo), it was completely opposite, it was very open and spacious. In the end, one must choose which is more important; curb appeal or floor-plan layout.

Many of the larger homes in Woodbury were constructed around 2005 (give/take couple of years).  San Mateo has more of a recent design.  I find the recent designs are more open than pre 2010's.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: obirvine on May 17, 2013, 01:35:06 PM
1974 built condo in El Camino Real for $650K? HOA is $320. What's going on with Irvine?

http://www.redfin.com/CA/Irvine/1-Mirror-Lk-92604/home/45483257
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: cowlemon on May 17, 2013, 02:17:16 PM
1974 built condo in El Camino Real for $650K? HOA is $320. What's going on with Irvine?

http://www.redfin.com/CA/Irvine/1-Mirror-Lk-92604/home/45483257

It looks like Deerfield.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: socaltrojan81 on May 17, 2013, 05:05:16 PM
The detached townhomes of Woodbury have better curb appeal than the motorcourt houses, and even some single family houses currently being offered in the newer villages.  The townhomes have full exposure to the street, with ample curb parking for guests at the front. The garage is rear alley to further enhance the curb appeal giving a formal entry presence at the street front. This particular townhome design has a fore-court entry/ private front yard on top of a large landscaped buffer maintained by the association. It sits on a single loaded street on a shaded historic eucalyptus windrow.

Woodbury detached townhomes have a minimum 10’ separation between one another. The side yard concept contributes to privacy with no windows looking in. Some even have two side yards. In comparison- to appeal to the “traditional” buyer, the motor court homes offer a backyard ~10’ area in the rear. This only gives perception of better value. But the truth is the street frontage, front yard, and therefore curb appeal has been completely eliminated. The separation between the homes has also been compressed. The motorcourt is a more efficient use of salable land that they can label “single family”. Walk down a street of motorcourts and notice how sterile it is when it’s just row upon row of driveways without a front door in view.  Parking and trash situations have already been discussed in this forum.   


This sounds like an exact description of the Casero (standard pacific) homes in Portola Springs (north enclave).
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jamboreedude on May 17, 2013, 07:31:59 PM
1974 built condo in El Camino Real for $650K? HOA is $320. What's going on with Irvine?

http://www.redfin.com/CA/Irvine/1-Mirror-Lk-92604/home/45483257

Will it ever sell at the ASK price? I wouldn't buy a piece of crap like that for that price. Ask for the moon and get it? Get real.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on May 17, 2013, 08:52:26 PM
I am an architect that happened to live in the area for a number of years, and would like to offer some of my thoughts and observations purely from an aesthetic land use standpoint...


A refreshing and informative post. Please keep up your analysis and postings on TI.

Second that.. like a rated G version of IHS
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on May 17, 2013, 08:55:22 PM
I'm not sure what this seller/agent are smoking but it must be some strong stuff...

http://www.redfin.com/CA/Irvine/25-Water-Lily-92606/home/7202284

I'd love to see how their home will appraise when my listing with the same floor plan and larger yard closed for almost $200k less about 3 weeks ago.  haha
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Panda on May 17, 2013, 09:24:33 PM
http://www.youtube.com/watch?v=RiAvHPPc8M8

I was actually thinking the same thing when i saw that listing... I was like the What the ?? for that piece of crap?

1974 built condo in El Camino Real for $650K? HOA is $320. What's going on with Irvine?

http://www.redfin.com/CA/Irvine/1-Mirror-Lk-92604/home/45483257

Will it ever sell at the ASK price? I wouldn't buy a piece of crap like that for that price. Ask for the moon and get it? Get real.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on May 17, 2013, 09:52:51 PM
I'm not sure what this seller/agent are smoking but it must be some strong stuff...

http://www.redfin.com/CA/Irvine/25-Water-Lily-92606/home/7202284

I'd love to see how their home will appraise when my listing with the same floor plan and larger yard closed for almost $200k less about 3 weeks ago.  haha

they made a house jaundiced.. wow.. that's impressive.. so do they have a "deli mustard" color at the paint store?  At least paint it a neutral color for this wtf pricing.. for some reason I'm craving a pastrami sandwich right now
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: SoCal on May 17, 2013, 09:53:07 PM
I was actually thinking the same thing when i saw that listing... I was like the What the ?? for that piece of crap?

1974 built condo in El Camino Real for $650K? HOA is $320. What's going on with Irvine?

http://www.redfin.com/CA/Irvine/1-Mirror-Lk-92604/home/45483257

Will it ever sell at the ASK price? I wouldn't buy a piece of crap like that for that price. Ask for the moon and get it? Get real.


This is the EXACT floor plan I grew up in except mirror-image. Apparently the builder made an identical community in Yorba Linda off Esperanza Road, where I lived, a few years after building that one. If you're going to buy a unit in that complex, that is the one to get because unlike the others, there really aren't any common walls. The corner of the living room wall touches the tip of a neighbor's wall. Too bad they don't make complexes with greenbelts anymore.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Coleman on May 18, 2013, 03:33:07 PM
A 2400sq ft house like Water Lilly closed for 800k?  That sounds pretty appealing.

PM me next time, haha
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on May 18, 2013, 04:27:01 PM
A 2400sq ft house like Water Lilly closed for 800k?  That sounds pretty appealing.

PM me next time, haha
$840k to be exact.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Coleman on May 18, 2013, 10:24:36 PM
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
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on May 19, 2013, 02:18:49 PM
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....
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on May 19, 2013, 02:28:19 PM
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.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on May 19, 2013, 02:28:46 PM
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. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: obirvine on May 20, 2013, 12:36:35 PM
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
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: LiefinIrvine on May 20, 2013, 02:27:12 PM
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 (http://www.redfin.com/CA/Irvine/110-Chantilly-92620/home/7210103)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: obirvine on May 20, 2013, 02:54:18 PM
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 (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.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: BunkMoreland on May 20, 2013, 03:43:43 PM
You can rent a nice IAC apt with similar sq ft for $1000/mo less. Makes no sense.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on May 20, 2013, 03:46:27 PM
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). 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on May 20, 2013, 06:40:27 PM
Good read. I thought Id post it here.

http://seekingalpha.com/article/1447971-housing-the-risk-of-rising-home-prices-and-mortgage-rates
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Coleman on May 20, 2013, 07:28:30 PM
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! 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on May 20, 2013, 09:54:40 PM
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!!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Cubic Zirconia on May 20, 2013, 10:01:27 PM
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 :)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on May 20, 2013, 10:20:14 PM
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. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: BunkMoreland on May 21, 2013, 12:53:31 AM
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.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Homer_Simpson on May 21, 2013, 06:24:45 AM
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.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: qwerty on May 21, 2013, 06:43:51 AM
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.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: LiefinIrvine on May 21, 2013, 07:02:51 AM
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 (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.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Homer_Simpson on May 21, 2013, 07:24:34 AM
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.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on May 21, 2013, 07:41:16 AM
I wonder how the appraisals are working out?  Still see quite a few buyer conventional financing like 87 Long Meadow above.. Do they miraculously hit the asking/offer price?  Or if they come up short what then?  If I was buying, and the discrepancy is too great.. red flag?  Going 50% down seems really risky for me, especially on smaller floorplans.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: shadax on May 21, 2013, 07:45:37 AM
It would be wise to sell and take profit soon
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Homer_Simpson on May 21, 2013, 07:46:03 AM
I wonder how the appraisals are working out?  Still see quite a few buyer conventional financing like 87 Long Meadow above.. Do they miraculously hit the asking/offer price?  Or if they come up short what then?  If I was buying, and the discrepancy is too great.. red flag?  Going 50% down seems really risky for me, especially on smaller floorplans.

I definitely think their bigger downpayments cover the difference. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Homer_Simpson on May 21, 2013, 07:47:45 AM
It would be wise to sell and take profit soon

Only problem is... where are you gonna live in the mean time?  Unless you have another designated home you could stay already or want to buy again in this bubble..

wait wait wait!! You can sell and buy in Johns Creek!!! Stupid me
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: The California Court Company on May 21, 2013, 08:25:05 AM
I am going to sell at WTF price and take the profit. then move in with my parents who live in a much bigger house by themselves and also in the Unicorn land. I will use the profit to buy a couple of houses at Johns Creek to help out our Korean friend at TI.

It would be wise to sell and take profit soon

Only problem is... where are you gonna live in the mean time?  Unless you have another designated home you could stay already or want to buy again in this bubble..

wait wait wait!! You can sell and buy in Johns Creek!!! Stupid me
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Homer_Simpson on May 21, 2013, 08:31:26 AM
group buy!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on May 21, 2013, 09:40:21 AM
Why buy in JC where the appreciation is .000721% vs the 88% bubble appreciation in Irvine?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on May 21, 2013, 09:58:27 AM
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.

Not really.  I bought back in 2005 and only had a 5 year plan.  Here we are 7 years later and my property is worth more than what I paid.  Back then, there were a TON of stated income loans, piggy-back loans, little down payment, etc. causing a huge run up in prices.  Then the short sales happened and put a huge amount of downward pressure on prices.  Now days, with everyone putting 30%+ down payments or paying cash for properties, we are in a completely different situation.  I cannot see prices falling off a cliff if there are no foreclosures or short sales...
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: BunkMoreland on May 21, 2013, 12:44:20 PM
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.

Not really.  I bought back in 2005 and only had a 5 year plan.  Here we are 7 years later and my property is worth more than what I paid.  Back then, there were a TON of stated income loans, piggy-back loans, little down payment, etc. causing a huge run up in prices.  Then the short sales happened and put a huge amount of downward pressure on prices.  Now days, with everyone putting 30%+ down payments or paying cash for properties, we are in a completely different situation.  I cannot see prices falling off a cliff if there are no foreclosures or short sales...

Your home is worth more now because you rode out the downturn. That is exactly my point ... if you buy high now, be prepared to have to live through the dip that is bound to come. I see pricing falling when interest rates rise, which is bound to happen.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on May 21, 2013, 12:59:34 PM
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.

Not really.  I bought back in 2005 and only had a 5 year plan.  Here we are 7 years later and my property is worth more than what I paid.  Back then, there were a TON of stated income loans, piggy-back loans, little down payment, etc. causing a huge run up in prices.  Then the short sales happened and put a huge amount of downward pressure on prices.  Now days, with everyone putting 30%+ down payments or paying cash for properties, we are in a completely different situation.  I cannot see prices falling off a cliff if there are no foreclosures or short sales...

Your home is worth more now because you rode out the downturn. That is exactly my point ... if you buy high now, be prepared to have to live through the dip that is bound to come. I see pricing falling when interest rates rise, which is bound to happen.

My guess is that the dip might 10-15% off the new peak (which we still haven't hit yet) so if a buyer buys right now, he still should be in good shape.  Sure interest rates will rise, but it won't have THAT much of an impact here in Irvine.  It will be a very slow rise with many other factors probably contributing more to the housing prices.

You also originally stated that "it is very possible/likely that buyers today could be under water in 6 years".  I don't see this happening because of the large number of people with massive down payments and all cash buyers.  The market will not tank like it did in 09/10 due to reasons I already mentioned and as a result, very few people will be underwater.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: qwerty on May 21, 2013, 01:26:03 PM
woodbury owner - bunkmorelands point has some merit to it, for example, if you tried selling in year 5 or 6 after ownership, you probably would have lost money on your purchase if you tried to sell it. in year 7 it just so happened that prices have gone up 20% to put you back in the money.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on May 21, 2013, 06:38:04 PM
Higher interest rates won't bring prices down by themselves, higher supply and/or lower demand will bring prices down.  Higher rates will decrease buyer demand on the margin in Irvine since so many buyers buy with all cash or large downpayments.  Supply will be the key of where prices go. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: BunkMoreland on May 21, 2013, 06:57:49 PM
Higher interest rates won't bring prices down by themselves, higher supply and/or lower demand will bring prices down.  Higher rates will decrease buyer demand on the margin in Irvine since so many buyers buy with all cash or large downpayments.  Supply will be the key of where prices go.

As interest rates rise, you'll see fewer cash buyers as folks will look for other investment vehicles. Obviously its a myriad of factors.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on May 21, 2013, 07:01:16 PM
It will take more than rising interest rates for prices to fall significantly... I've talked about this before, but here's a chart to show you that it's not just interest rates that affect prices:

(http://www.arizonarealestatenotebook.com/wp-content/uploads/2010/09/2010_09_12_mortage_rates_vs_real_home_prices.png)

Got it from this forum on Redfin:

http://forums.redfin.com/t5/Orange-County/Report-Are-we-approaching-a-NEW-Housing-Bubble/td-p/409381
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on May 23, 2013, 07:32:35 AM
Talk about Flip Or Flop:

http://www.redfin.com/CA/Irvine/23-Eastlake-92604/home/4690934

Bought in April for $910k, now listed for $1.4m after remodel.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on May 25, 2013, 06:41:24 AM
This one went pending yesterday.

http://www.redfin.com/CA/Irvine/63-Regal-92620/home/7210750?utm_medium=email&utm_campaign=listings_update&utm_source=myredfin&utm_content=address (http://www.redfin.com/CA/Irvine/63-Regal-92620/home/7210750?utm_medium=email&utm_campaign=listings_update&utm_source=myredfin&utm_content=address)

closed at $930,000 CASH with a Redfin agent...I'm quitting my job and gonna go help people buy in Woodbury
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on May 25, 2013, 07:09:28 AM
I guess you really did buy at the bottom... this is insane.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on May 25, 2013, 10:01:46 AM
This one went pending yesterday.

http://www.redfin.com/CA/Irvine/63-Regal-92620/home/7210750?utm_medium=email&utm_campaign=listings_update&utm_source=myredfin&utm_content=address (http://www.redfin.com/CA/Irvine/63-Regal-92620/home/7210750?utm_medium=email&utm_campaign=listings_update&utm_source=myredfin&utm_content=address)

closed at $930,000 CASH with a Redfin agent...I'm quitting my job and gonna go help people buy in Woodbury
This one went pending yesterday.

http://www.redfin.com/CA/Irvine/63-Regal-92620/home/7210750?utm_medium=email&utm_campaign=listings_update&utm_source=myredfin&utm_content=address (http://www.redfin.com/CA/Irvine/63-Regal-92620/home/7210750?utm_medium=email&utm_campaign=listings_update&utm_source=myredfin&utm_content=address)

closed at $930,000 CASH with a Redfin agent...I'm quitting my job and gonna go help people buy in Woodbury
This one went pending yesterday.

http://www.redfin.com/CA/Irvine/63-Regal-92620/home/7210750?utm_medium=email&utm_campaign=listings_update&utm_source=myredfin&utm_content=address (http://www.redfin.com/CA/Irvine/63-Regal-92620/home/7210750?utm_medium=email&utm_campaign=listings_update&utm_source=myredfin&utm_content=address)

closed at $930,000 CASH with a Redfin agent...I'm quitting my job and gonna go help people buy in Woodbury
I had to do a double take, almost $100k over list.  Getting close to $500/SF.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on May 25, 2013, 10:52:34 AM
closed at $930,000 CASH with a Redfin agent...I'm quitting my job and gonna go help people buy in Woodbury
I had to do a double take, almost $100k over list.  Getting close to $500/SF.

Me too!  I wonder how the counter offers went.. must have been a crazy few days with the negotiations.  I bet there are a lot of neighbors doing some serious thinking this weekend after seeing this closing price!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on May 25, 2013, 11:28:51 AM
And it's not even a true SFR... redic!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on June 03, 2013, 04:08:29 PM
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)

Price: Changed from $1,399,900 to $1,374,900

What happened? No FCB?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jamboreedude on June 03, 2013, 04:29:31 PM
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)

Price: Changed from $1,399,900 to $1,374,900

What happened? No FCB?

FCB will buy a new construction at Cypress Village instead, IMO.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on June 03, 2013, 05:37:08 PM
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)

Price: Changed from $1,399,900 to $1,374,900

What happened? No FCB?

FCB will buy a new construction at Cypress Village instead, IMO.
Are at The Brands if they want to be in Woodbridge.  :P
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: The California Court Company on June 03, 2013, 05:59:26 PM
FCBs may be loose with their money, but they are not that stupid to pay $400k more for a remodeling job likely cost $50k or less

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)

Price: Changed from $1,399,900 to $1,374,900

What happened? No FCB?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: qwerty on June 03, 2013, 06:57:35 PM
Are at The Brands if they want to be in Woodbridge.  :P

does anyone know how the branches are selling?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on June 03, 2013, 08:35:37 PM
does anyone know how the branches are selling?
Haven't been to The Branches yet but I went to Willow Bend last weekend and it's in Phase 2 and it's been two months. I think it's 10-11 homes per phase.

Not sure if that is slow or fast... but I don't think they were sold out of their Phase 1 like The Branches was when it opened.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Westsiiide! on June 03, 2013, 09:09:28 PM
does anyone know how the branches are selling?
Haven't been to The Branches yet but I went to Willow Bend last weekend and it's in Phase 2 and it's been two months. I think it's 10-11 homes per phase.

Not sure if that is slow or fast... but I don't think they were sold out of their Phase 1 like The Branches was when it opened.

Been to both WL projects a couple times -- impression was that phase 1 at the Branches was a bit of smoke and mirrors by the sales office and/or mis-postings/mis-communications by folks on this board or at the 1st open house.  i think all of phase 1 (12 homes) was not all sold out upon release (in fact, the release was staged in 1a and 1b phases, whereby 1a had 6 homes, i believe, and was sold out, but 1b was not officially released, so could not have been sold out).  when i last went a couple weeks ago, branches was finishing up phase 2b and had one home unsold (and they were practically begging me to buy it).  i've never met more aggressive sales folks.   8)  oh, and btw, the standard home features have been beefed up with the SS kitchen aid package, crown moldings, etc.

Different feeling at willow bend, nice sales folks, but they weren't as aggressive as those at the branches.  i suspect phases sold out more easily than those at branches.  right now, i believe they finished phase 2a, but have not yet released 2b.

maybe WL is monitoring the markets for releasing the homes (rates shooting up not a good thing... afterall, pricing too high in phase 2 or 3 might bring trouble come releasing phase 4 or 5).

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on June 03, 2013, 09:57:44 PM
http://www.redfin.com/CA/Irvine/29-Wonderland-92620/home/5979462

Gotta love technique of raising the asking price soon after listing it... $898k -> $948k in 10 days!  Seller purchased the property for just $725k 8 months ago.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on June 03, 2013, 10:12:48 PM
http://www.redfin.com/CA/Irvine/29-Wonderland-92620/home/5979462

Gotta love technique of raising the asking price soon after listing it... $898k -> $948k in 10 days!  Seller purchased the property for just $725k 8 months ago.
If it doesn't sell in 10 days, the way to make it sell faster is to raise the price.  lol
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: traceimage on June 03, 2013, 11:53:33 PM
A friend of mine put her Woodbridge house on the market a few months ago. She immediately started getting SO many offers (so she said), that she decided to raise the asking price. The house sold in April, $25k over the previous sale price in July 2007. When she first told me last year she was thinking of selling, I thought there was no way she could sell it for more than what she paid back in 2007. I can't believe how much things have changed in just a few months!

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: paperboyNC on June 04, 2013, 03:45:42 PM
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

Someone got a pretty good deal in 2011. I wasn't aware that we reached $199/sqft in Irvine in 2011.

This will never sell for $729k. Since it's attached it'll sell for $649k at most IMO.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: cowlemon on June 04, 2013, 03:47:46 PM
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

Someone got a pretty good deal in 2011. I wasn't aware that we reached $199/sqft in Irvine in 2011.

This will never sell for $729k. Since it's attached it'll sell for $649k at most IMO.

$650 seems high to me considering HOA is $300.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: paperboyNC on June 04, 2013, 04:01:01 PM
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

This will never sell for $729k. Since it's attached it'll sell for $649k at most IMO.

$650 seems high to me considering HOA is $300.

Other attached condos in PS have sold recently:
$323/sqft http://www.redfin.com/CA/Irvine/32-Conservancy-92618/home/40102760
$338/sqft http://www.redfin.com/CA/Irvine/41-Gray-Dove-92618/home/40102608

The higher number would yield $643k. Normally smaller places sell for more per sqft everything else being equal. I think it's worth more like $600k - a far cry from the $729k they are asking.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on June 04, 2013, 04:30:19 PM
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

This will never sell for $729k. Since it's attached it'll sell for $649k at most IMO.

$650 seems high to me considering HOA is $300.

Other attached condos in PS have sold recently:
$323/sqft http://www.redfin.com/CA/Irvine/32-Conservancy-92618/home/40102760
$338/sqft http://www.redfin.com/CA/Irvine/41-Gray-Dove-92618/home/40102608

The higher number would yield $643k. Normally smaller places sell for more per sqft everything else being equal. I think it's worth more like $600k - a far cry from the $729k they are asking.

Never underestimate the power of the FCB. Lol

Personally, I hate the San Carlos Tract. I would never buy that.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on June 05, 2013, 08:25:11 PM
.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on June 08, 2013, 10:17:19 AM
3 story attached 2bdrm/2bath condo listed for $545k!  I remember this model going for high 2s/low 3s just a few years ago.

http://www.redfin.com/CA/Irvine/45-Spanish-Lace-92620/home/7210806
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: The California Court Company on June 08, 2013, 11:20:55 AM
anchor baby is a lucrative business. WB will be packed with pregnant Chinese women

3 story attached 2bdrm/2bath condo listed for $545k!  I remember this model going for high 2s/low 3s just a few years ago.

http://www.redfin.com/CA/Irvine/45-Spanish-Lace-92620/home/7210806
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: obirvine on June 11, 2013, 11:36:31 AM
1984 built attached condo in Walnut. Bought for 505K last year, wants 734K now.

http://www.redfin.com/CA/Irvine/58-Riverstone-92606/unit-64/home/5201766 (http://www.redfin.com/CA/Irvine/58-Riverstone-92606/unit-64/home/5201766)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: zubs on June 11, 2013, 01:25:45 PM
So I was taking a piss last night and I had this great idea to drive more traffic to www.irvinehousingblog.com.  (I have my greatest ideas while peeing)

IHB could profile flips all over orange county.  IHB started with Irvinerenter profiling massive losses in realestate, and that's how it became popular.  Since the market has changed, it may drive traffic back to the site.   The posts on this thread are kind of like that already except it doesn't have the financing details and such.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Cubic Zirconia on June 11, 2013, 01:29:19 PM
So I was taking a piss last night and I had this great idea to drive more traffic to www.irvinehousingblog.com.  (I have my greatest ideas while peeing)

IHB could profile flips all over orange county.  IHB started with Irvinerenter profiling massive losses in realestate, and that's how it became popular.  Since the market has changed, it may drive traffic back to the site.   The posts on this thread are kind of like that already except it doesn't have the financing details and such.

I did use a couple of examples from this thread, and referred this thread on at least four of my posts. This is a landmark thread IMO! Documents the change of housing from getting heated up to almost bubbling.. and may be post summer to the mini dip?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: fumbling on June 11, 2013, 01:48:45 PM
http://www.redfin.com/CA/Irvine/62-Bamboo-92620/home/5931314

I don't see how this house can close anywhere near what they are asking at $1,325,000 ... the highest the Camellia homes got is only just above $1 million ... I doubt this house right next to Jeffrey would even close above $1 million IMO ... doesn't seem like a serious seller to offer such a WTF price ...
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: zubs on June 11, 2013, 03:32:22 PM
Well this thread doesn't say how the flipper financed their buy, or how much money they put into the flip.  Redfin doesn't give that info out.  It would be nice to have an analysis.  However it would be a work of love because I don't see how one can monetize it.  Maybe sell ads on IHB..shrug.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on June 11, 2013, 03:58:13 PM
Well this thread doesn't say how the flipper financed their buy, or how much money they put into the flip.  Redfin doesn't give that info out.  It would be nice to have an analysis.  However it would be a work of love because I don't see how one can monetize it.  Maybe sell ads on IHB..shrug.

On redfin, under listing information it gives this information:

"Buyer Financing: Conventional"
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on June 11, 2013, 08:13:10 PM
http://www.redfin.com/CA/Irvine/62-Bamboo-92620/home/5931314

I don't see how this house can close anywhere near what they are asking at $1,325,000 ... the highest the Camellia homes got is only just above $1 million ... I doubt this house right next to Jeffrey would even close above $1 million IMO ... doesn't seem like a serious seller to offer such a WTF price ...

Seller got a hell of a deal back in 09 at 915k.  This property will definitely clear 1 million.  Maybe 1.2 million is my guess.  A Camelia Plan 2 (2315 sq ft.) just went pending at $999k.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bearman81 on June 12, 2013, 03:32:31 PM
Ok, so this does not fit the "newer" definition, but certainly fits the "WTF" one I think: 


http://www.redfin.com/CA/Irvine/7-Anzio-92614/home/4661983
 (http://www.redfin.com/CA/Irvine/7-Anzio-92614/home/4661983)

I understand the larger lot and good location, but, if you had $1M, wouldn't you find a better place than Westpark?  Btw, I live in Westpark currently so Im not thowing stones.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on June 12, 2013, 03:43:27 PM
Ok, so this does not fit the "newer" definition, but certainly fits the "WTF" one I think: 


http://www.redfin.com/CA/Irvine/7-Anzio-92614/home/4661983
 (http://www.redfin.com/CA/Irvine/7-Anzio-92614/home/4661983)

I understand the larger lot and good location, but, if you had $1M, wouldn't you find a better place than Westpark?  Btw, I live in Westpark currently so Im not thowing stones.
Actually... for 9000+sft, culdesac location and 3CWG... $1m is a bargain compared to The Branches, Willow Bend and any other new home community in Irvine selling for $1m.

That lot is huge!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bearman81 on June 12, 2013, 03:53:51 PM
Ok, so this does not fit the "newer" definition, but certainly fits the "WTF" one I think: 


http://www.redfin.com/CA/Irvine/7-Anzio-92614/home/4661983
 (http://www.redfin.com/CA/Irvine/7-Anzio-92614/home/4661983)

I understand the larger lot and good location, but, if you had $1M, wouldn't you find a better place than Westpark?  Btw, I live in Westpark currently so Im not thowing stones.
Actually... for 9000+sft, culdesac location and 3CWG... $1m is a bargain compared to The Branches, Willow Bend and any other new home community in Irvine selling for $1m.

That lot is huge!

But it was builit in 1987!  Ok, so I dont have the lot size (only 6000) or location (near Culver), but maybe I shoot for $1M too?  :o
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on June 12, 2013, 03:57:05 PM
But it was builit in 1987!
You can always update to bring it into the 2010s... but you can't make your lot bigger or change your location.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: obirvine on June 12, 2013, 04:01:03 PM
3 level attached condo originally listed for 769K, just reduced to 679K, still I feel WTF.

http://www.redfin.com/CA/Irvine/209-Groveland-92620/home/7219153
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on June 12, 2013, 04:13:16 PM
But it was builit in 1987!
You can always update to bring it into the 2010s... but you can't make your lot bigger or change your location.

This house is perfect for anyone wanting to do a full remodel.  Drop 150k in this place and it can be much better than any newer product you can purchase.  Low HOA, low/no MR make it a pretty decent deal.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Veronica on June 15, 2013, 12:06:49 AM
7 Anzio is an excellent house for the price.  Houses that big with such a huge lot (internal, not backing to a major sweet, like Main or Culver) are hard to come by in Westpark (believe me we have been on a hunt for over a year).  Excellent schools (Westpark Elementary, South Lake, University), walking distance to several parks, pools, including kids/toddler areas, walking distance to elementary school (Westpark Elementary which is year round and has APAAS), walking distance to several preschools (e.g. LePort Montessori).  I have 2 small kids, so believe me, it is a great house in a great location.  In addition, no Mello Roos and very low HOA fee.  More great features: fairly close to freeway if you need to commute, very close to shopping centers, coffee shops, short driving distance to the District (Whole Foods etc), Diamond Jamboree, Harvard/Main shopping plaza... Lots of Kids clubs/activities around!

We just bought in another area in Irvine and are very happy, but if I was looking for a house, I would go full price on this one and remodel.  :D

We looked in NW, University Park, Laguna Altura, but did not like it as much as Westpark.  Uni High or Northwood High were the only high schools we were considering (we are academically focused), so no PS, Oakcreek, or Woodbridge.  Stonegate/Lambert Ranch is going to be split due to the new HS No. 5 and the Stonegate elementary school is already overflowing/overcrowding.  Not a good sign. 

Anyway, we bought because renting a 4-bedroom house in Westpark became more expensive than to buy a similar house. I don't care if it is a bubble or not.  ;)



Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Homer_Simpson on June 15, 2013, 05:55:20 AM
First post and boasting about this home?? Are you the owner  :P
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: eyephone on June 15, 2013, 07:08:11 AM
First post and boasting about this home?? Are you the owner  :P

Rofl  ;)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: freedomcm on June 17, 2013, 06:53:49 AM
redfin says culverdale elementary, not westpark.

not gonna attract the FCBs....

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bearman81 on June 17, 2013, 08:14:26 AM
redfin says culverdale elementary, not westpark.

not gonna attract the FCBs....

Atleast some parts of Westpark have the option of either Traditional (Culverdale) or Year round (Westpark).  And no, im not the owner either!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Veronica on June 17, 2013, 09:40:34 AM
redfin says culverdale elementary, not westpark.

not gonna attract the FCBs....

You are not from Irvine  ;D  In that area, residents have a choice whether to go to Westpark or Culverdale, it is called the "Super Attendance Area." :)  Check the IUSD site, it will tell you exactly when you type in the address.  In any case, I am not the owner, I doubt that in this economy owners would take the time and effort to defend their houses on a blog.  After going to numerous open houses, where realtors don't even bother getting their a$$ses off a couch to shake your hand or even acknowledge you, it is pretty clear that this is a strong sellers market for Irvine (Westpark at least). 

No FCBs are needed for Westpark houses...they are being sold quickly without FCBs, really.  ;)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on June 17, 2013, 10:52:02 AM
http://www.redfin.com/CA/Irvine/116-Hedge-Bloom-92618/home/40103056?utm_campaign=instant_listings_update&utm_content=address&utm_medium=email&utm_source=myredfin

Another one. Sold in August 2010 for $413,000 now asking $585,000 for a 2 bedroom 1180 SF attached condo.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on June 17, 2013, 12:28:04 PM
http://www.redfin.com/CA/Irvine/116-Hedge-Bloom-92618/home/40103056?utm_campaign=instant_listings_update&utm_content=address&utm_medium=email&utm_source=myredfin

Another one. Sold in August 2010 for $413,000 now asking $585,000 for a 2 bedroom 1180 SF attached condo.
Wow, almost $500/sf for a Woodbury East attached condo with a gorgeous main listing picture like that?  Why not list it for $600/sf?  haha   Not sure what Bill and the seller are smoking, but it must be some strong stuff.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Soylent Green Is People on June 17, 2013, 03:44:56 PM
With 146 Hedge (model match) closing 40 days ago at $510k, spark up a bong full of the same stuff for me also. $75k of relative appreciation per month?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Goriot on June 18, 2013, 04:38:42 PM
This truly is a WTF price at $511/sqft.

http://www.redfin.com/CA/Irvine/38-Rising-Sun-92620/home/5958985

Note the description: Fabulous model perfect home! Lowest priced SFR in the luxurious Village of Woodbury

Lowest priced?? haha

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on June 18, 2013, 04:49:03 PM
This truly is a WTF price at $511/sqft.

http://www.redfin.com/CA/Irvine/38-Rising-Sun-92620/home/5958985

Note the description: Fabulous model perfect home! Lowest priced SFR in the luxurious Village of Woodbury

Lowest priced?? haha


Actually, if you compare it to its original sale price in 2006 taking into account inflation and the recent bubble, it's probably accurately priced.

The problem is that just not 2 to 3 years ago, these homes were selling for the mid to high $700ks.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on June 18, 2013, 05:35:44 PM
This truly is a WTF price at $511/sqft.

http://www.redfin.com/CA/Irvine/38-Rising-Sun-92620/home/5958985

Note the description: Fabulous model perfect home! Lowest priced SFR in the luxurious Village of Woodbury

Lowest priced?? haha


Actually, if you compare it to its original sale price in 2006 taking into account inflation and the recent bubble, it's probably accurately priced.

The problem is that just not 2 to 3 years ago, these homes were selling for the mid to high $700ks.
If it closes at/near list it'll be above previous bubble pricing....I dunno $1m for a 3-bedroom home seems a bit high. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on June 18, 2013, 06:51:20 PM
Is the mini-bubble starting to deflate? The crazy price increases have stopped and now prices are being dropped. Here are some attached condos that reduced their prices in the past few days. Is this a sign?

http://www.redfin.com/CA/Irvine/17-Imperial-Aisle-92606/home/5590317

http://www.redfin.com/CA/Irvine/87-Weepingwood-92614/unit-33/home/5641294

http://www.redfin.com/CA/Irvine/75-Goldenrod-92614/unit-45/home/5645489

http://www.redfin.com/CA/Irvine/420-Fallingstar-92614/unit-30/home/5618548

http://www.redfin.com/CA/Irvine/1135-Abelia-92606/home/12255155

http://www.redfin.com/CA/Irvine/414-Silk-Tree-92606/home/12257871

http://www.redfin.com/CA/Irvine/15-Tangerine-92618/home/4746099

http://www.redfin.com/CA/Irvine/2234-Scholarship-92612/home/39650183

http://www.redfin.com/CA/Irvine/1701-Terra-Bella-92602/home/5841949

http://www.redfin.com/CA/Irvine/2233-Martin-92612/unit-303/home/5554417

http://www.redfin.com/CA/Irvine/21-Autumn-Oak-92604/unit-2/home/5505867

http://www.redfin.com/CA/Irvine/4106-Apricot-Dr-92618/unit-4106/home/5259791

http://www.redfin.com/CA/Irvine/15-Woodleaf-92614/unit-172/home/5574002

http://www.redfin.com/CA/Irvine/635-Springbrook-N-92614/unit-46/home/5618612

http://www.redfin.com/CA/Irvine/22-Remington-92620/unit-3/home/5317791

http://www.redfin.com/CA/Irvine/2374-Scholarship-92612/home/12252506

http://www.redfin.com/CA/Irvine/44-Sparrowhawk-92604/home/4688009
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on June 18, 2013, 08:27:00 PM
I guess there are newbies getting into the flipping game.  The seller bought the home as an REO in April for $875k and listed it recently for $1.25M by maybe putting $50k into it....

http://www.redfin.com/CA/Irvine/2-National-Pl-92602/home/4791825

The most expensive closed comp in West Irvine was $1.1M and that wasn't a house that backed up to Jamboree.  They'll be lucky if they get $1M for this house. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on June 18, 2013, 09:43:55 PM
This truly is a WTF price at $511/sqft.

http://www.redfin.com/CA/Irvine/38-Rising-Sun-92620/home/5958985

Wow, Jenny Ikeda is doing quite well in Woodbury!  I think she has 4-5 active listings in the neighborhood?  All of them are asking WTF prices so maybe she's on to something...
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on June 18, 2013, 09:52:19 PM
This truly is a WTF price at $511/sqft.

http://www.redfin.com/CA/Irvine/38-Rising-Sun-92620/home/5958985

Note the description: Fabulous model perfect home! Lowest priced SFR in the luxurious Village of Woodbury

Lowest priced?? haha


Actually, if you compare it to its original sale price in 2006 taking into account inflation and the recent bubble, it's probably accurately priced.

The problem is that just not 2 to 3 years ago, these homes were selling for the mid to high $700ks.
If it closes at/near list it'll be above previous bubble pricing....I dunno $1m for a 3-bedroom home seems a bit high. 
At least it has a driveway, is not on a motorcourt, has larger setbacks,  and is not zero lot line (you can walk all the way around the house). :)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on June 19, 2013, 09:19:49 AM
I guess there are newbies getting into the flipping game.  The seller bought the home as an REO in April for $875k and listed it recently for $1.25M by maybe putting $50k into it....

http://www.redfin.com/CA/Irvine/2-National-Pl-92602/home/4791825

The most expensive closed comp in West Irvine was $1.1M and that wasn't a house that backed up to Jamboree.  They'll be lucky if they get $1M for this house. 

Kind of a half ass renovation.  The new buyer might have to redo some of it to match everything else.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on June 19, 2013, 10:26:26 AM
Is the mini-bubble starting to deflate? The crazy price increases have stopped and now prices are being dropped. Here are some attached condos that reduced their prices in the past few days. Is this a sign?

http://www.redfin.com/CA/Irvine/17-Imperial-Aisle-92606/home/5590317

http://www.redfin.com/CA/Irvine/87-Weepingwood-92614/unit-33/home/5641294

http://www.redfin.com/CA/Irvine/75-Goldenrod-92614/unit-45/home/5645489

http://www.redfin.com/CA/Irvine/420-Fallingstar-92614/unit-30/home/5618548

http://www.redfin.com/CA/Irvine/1135-Abelia-92606/home/12255155

http://www.redfin.com/CA/Irvine/414-Silk-Tree-92606/home/12257871

http://www.redfin.com/CA/Irvine/15-Tangerine-92618/home/4746099

http://www.redfin.com/CA/Irvine/2234-Scholarship-92612/home/39650183

http://www.redfin.com/CA/Irvine/1701-Terra-Bella-92602/home/5841949

http://www.redfin.com/CA/Irvine/2233-Martin-92612/unit-303/home/5554417

http://www.redfin.com/CA/Irvine/21-Autumn-Oak-92604/unit-2/home/5505867

http://www.redfin.com/CA/Irvine/4106-Apricot-Dr-92618/unit-4106/home/5259791

http://www.redfin.com/CA/Irvine/15-Woodleaf-92614/unit-172/home/5574002

http://www.redfin.com/CA/Irvine/635-Springbrook-N-92614/unit-46/home/5618612

http://www.redfin.com/CA/Irvine/22-Remington-92620/unit-3/home/5317791

http://www.redfin.com/CA/Irvine/2374-Scholarship-92612/home/12252506

http://www.redfin.com/CA/Irvine/44-Sparrowhawk-92604/home/4688009

Another one.

http://www.redfin.com/CA/Irvine/204-Guinevere-92620/home/7211785
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on June 19, 2013, 12:20:10 PM
I guess there are newbies getting into the flipping game.  The seller bought the home as an REO in April for $875k and listed it recently for $1.25M by maybe putting $50k into it....

http://www.redfin.com/CA/Irvine/2-National-Pl-92602/home/4791825

The most expensive closed comp in West Irvine was $1.1M and that wasn't a house that backed up to Jamboree.  They'll be lucky if they get $1M for this house. 

Kind of a half ass renovation.  The new buyer might have to redo some of it to match everything else.
I'm going to enjoy seeing that house linger on the market for a while until they bring the price down by $200k+ over the next several months.  Wanna-be flippers like this need to be learn the hard way.  Don't they know that being right next to a super busy street brings the value of a home down, not up (there's a reason why they bought the REO for only $875k).  If they had the cash, they could have picked it up at the auction for $740k but since no other professional flipper did it tells you something. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on June 19, 2013, 02:15:35 PM
http://www.redfin.com/CA/Irvine/116-Hedge-Bloom-92618/home/40103056?utm_campaign=instant_listings_update&utm_content=address&utm_medium=email&utm_source=myredfin

Another one. Sold in August 2010 for $413,000 now asking $585,000 for a 2 bedroom 1180 SF attached condo.
Wow, almost $500/sf for a Woodbury East attached condo with a gorgeous main listing picture like that?  Why not list it for $600/sf?  haha   Not sure what Bill and the seller are smoking, but it must be some strong stuff.

Took 3 days to drop the price to $560,000....
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: eyephone on June 19, 2013, 07:41:17 PM
http://www.redfin.com/CA/Irvine/116-Hedge-Bloom-92618/home/40103056?utm_campaign=instant_listings_update&utm_content=address&utm_medium=email&utm_source=myredfin

Another one. Sold in August 2010 for $413,000 now asking $585,000 for a 2 bedroom 1180 SF attached condo.
Wow, almost $500/sf for a Woodbury East attached condo with a gorgeous main listing picture like that?  Why not list it for $600/sf?  haha   Not sure what Bill and the seller are smoking, but it must be some strong stuff.

Took 3 days to drop the price to $560,000....

Pictures are also fixed. They listened to us.

Good point! All I got to say: High HOA, attached condo, no wood floors does not command $474 sq ft in my opinion. If I was to buy it, but I'm not due to the reasons above. I would have to rip out the carpet and put wood floors, repaint the walls, remove the fixture in the living room. (Note: just my opinion)

The kitchen looks nice (granite counter top and cabinets looks decent), but what's up with that small wall in front of the kitchen. It looks around 4 feet tall, did it use to be a wall there?


Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: borca on June 20, 2013, 11:26:27 AM


Good point! All I got to say: High HOA, attached condo, no wood floors does not command $474 sq ft in my opinion. If I was to buy it, but I'm not due to the reasons above. I would have to rip out the carpet and put wood floors, repaint the walls, remove the fixture in the living room. (Note: just my opinion)

The kitchen looks nice (granite counter top and cabinets looks decent), but what's up with that small wall in front of the kitchen. It looks around 4 feet tall, did it use to be a wall there?

This home seems to have low ceiling... this could be a ground floor home with someone living above. which should allow hardwood floor as if it's on second floor with someone below then it's like on T&C that hardwood is not allowed.
There are obviously disadvantages with ppl up or down stairs, but one level living has to be a plus as well, as those stairs are no fun to deal with which can't be avoid for most Irvine homes.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on June 20, 2013, 12:19:48 PM
.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on June 20, 2013, 12:49:46 PM
http://www.redfin.com/CA/Irvine/117-Sanctuary-92620/home/7210901

this one in Woodbury just closed @ $700,000 ($309 PSF).  Seems low?
It's a short sale that's why.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on June 20, 2013, 01:42:12 PM
Buyer and listing agent the same. ummmm.....
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Homer_Simpson on June 20, 2013, 01:44:53 PM
Buyer and listing agent the same. ummmm.....

Nothing wrong with double dipping..  :P
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on June 20, 2013, 02:04:05 PM
Then I should not have my realtor so I can actually have someone sell me a house!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: eyephone on June 20, 2013, 02:18:55 PM
Buyer and listing agent the same. ummmm.....

Nothing wrong with double dipping..  :P

Especially at a party with chips.. Lol
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Homer_Simpson on June 20, 2013, 02:25:09 PM
Yeah... Chips... Wink Wink
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on June 20, 2013, 03:28:55 PM
Buyer and listing agent the same. ummmm.....
I put money down that the house is re-listed for sale within 60-90 days for a listing price north of $900k.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Homer_Simpson on June 20, 2013, 03:36:14 PM
Buyer and listing agent the same. ummmm.....
I put money down that the house is re-listed for sale within 60-90 days for a listing price north of $900k.

I'm hoping the market tanks so they don't get that much!!  But yeah.. I'm sure you are right.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on June 20, 2013, 03:56:14 PM
Just realized that it was bought cash...most likely an investor. Went pending the same day it was listed.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on June 20, 2013, 06:30:43 PM
Just realized that it was bought cash...most likely an investor. Went pending the same day it was listed.
I'll bet you the listing/buyer agent re-lists the home when it goes on sale.   ;)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on June 24, 2013, 11:21:07 AM
http://www.redfin.com/CA/Irvine/3141-Michelson-Dr-92612/unit-1103/home/7211378

Went from $648,888 to $595,000 in 20 days.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: hrcp on June 24, 2013, 12:54:35 PM
Ok, so this does not fit the "newer" definition, but certainly fits the "WTF" one I think: 


http://www.redfin.com/CA/Irvine/7-Anzio-92614/home/4661983
 (http://www.redfin.com/CA/Irvine/7-Anzio-92614/home/4661983)

I understand the larger lot and good location, but, if you had $1M, wouldn't you find a better place than Westpark?  Btw, I live in Westpark currently so Im not thowing stones.

redfin says culverdale elementary, not westpark.

not gonna attract the FCBs....

You are not from Irvine  ;D  In that area, residents have a choice whether to go to Westpark or Culverdale, it is called the "Super Attendance Area." :)  Check the IUSD site, it will tell you exactly when you type in the address.  In any case, I am not the owner, I doubt that in this economy owners would take the time and effort to defend their houses on a blog.  After going to numerous open houses, where realtors don't even bother getting their a$$ses off a couch to shake your hand or even acknowledge you, it is pretty clear that this is a strong sellers market for Irvine (Westpark at least). 

No FCBs are needed for Westpark houses...they are being sold quickly without FCBs, really.  ;)

Looks like 7 Anzio has been withdrawn from MLS and is no longer for sale.  That's too bad - I was hoping to see a "2 Malibu" showdown - one of the most entertaining threads on this site.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on June 24, 2013, 01:14:49 PM
Some more listings with reduced prices in last few days.

http://www.redfin.com/CA/Irvine/116-Hedge-Bloom-92618/home/40103056

http://www.redfin.com/CA/Irvine/44-Sparrowhawk-92604/home/4688009

http://www.redfin.com/CA/Irvine/104-Briarwood-92604/unit-118/home/5507379

http://www.redfin.com/CA/Irvine/76-Burlingame-92602/home/5842215

http://www.redfin.com/CA/Irvine/17-Imperial-Aisle-92606/home/5590317

http://www.redfin.com/CA/Irvine/1331-Abelia-92606/home/12253357
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: borca on June 24, 2013, 11:02:35 PM
Price change (lower) notification is pretty much the norm these days on redfin for Irvine. I'm not sure if it's bubble bursting or just correction to a more sustainable and solid level. I mean if it fall like 10-15% I would say it's minor to major correction, which isn't always a bad thing as we all know the price increase has to come down or stop some how. For homeowner a soft-landing would be good, IMO.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: eyephone on June 24, 2013, 11:20:50 PM
Another theory, people are pushing to sell before June 29th - the day of new releases in Irvine. More inventory will drive down the prices.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on June 25, 2013, 10:32:05 AM
What is the current inventory?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: paperboyNC on June 25, 2013, 11:10:11 AM
Price change (lower) notification is pretty much the norm these days on redfin for Irvine. I'm not sure if it's bubble bursting or just correction to a more sustainable and solid level. I mean if it fall like 10-15% I would say it's minor to major correction, which isn't always a bad thing as we all know the price increase has to come down or stop some how. For homeowner a soft-landing would be good, IMO.

A lot of sellers were listing at 10% or more of the last comparable sale thinking that prices still going up 5% per month as they were for a few months. Now that prices have stopped going up they have to drop their ask price.

The bubble has hardly burst - it's just stopped growing and likely will level out for the foreseeable future. I personally advised friends that were looking to buy 2-3 months ago to wait a few months until inventory went up (it has since doubled) so that they wouldn't be in crazy bidding wars for houses that weren't even their top choice.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on June 25, 2013, 11:37:49 AM
Price change (lower) notification is pretty much the norm these days on redfin for Irvine. I'm not sure if it's bubble bursting or just correction to a more sustainable and solid level. I mean if it fall like 10-15% I would say it's minor to major correction, which isn't always a bad thing as we all know the price increase has to come down or stop some how. For homeowner a soft-landing would be good, IMO.

A lot of sellers were listing at 10% or more of the last comparable sale thinking that prices still going up 5% per month as they were for a few months. Now that prices have stopped going up they have to drop their ask price.

The bubble has hardly burst - it's just stopped growing and likely will level out for the foreseeable future. I personally advised friends that were looking to buy 2-3 months ago to wait a few months until inventory went up (it has since doubled) so that they wouldn't be in crazy bidding wars for houses that weren't even their top choice.

Good advice.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on June 26, 2013, 05:16:02 PM
http://www.redfin.com/CA/Irvine/23-Bijou-92618/home/40022500/crmls-OC13123274

I dont think this is selling anytime soon for $530,000 (Bought 6-21-11 for $390,000)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on June 26, 2013, 06:56:56 PM
http://www.redfin.com/CA/Irvine/23-Bijou-92618/home/40022500/crmls-OC13123274

I dont think this is selling anytime soon for $530,000 (Bought 6-26-13 for $390,000)
Agreed, it should sell in the mid-400s. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Homer_Simpson on June 26, 2013, 09:10:48 PM
Is it me or does it feel like the high price frenzy is slowly going away?  Doesn't seem like there are as much homes closing with CASH purchase versus conventional loans..

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on June 26, 2013, 09:22:34 PM
Inventory up to 400+, new homes opening this weekend, Great Park in two months... supply is going up... easing the panic buying.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on June 26, 2013, 09:27:28 PM
Is it me or does it feel like the high price frenzy is slowly going away?  Doesn't seem like there are as much homes closing with CASH purchase versus conventional loans..

I notice the same thing. Less cash buyers, less bidding wars, prices drops and longer time on the market.

I had an opportunity to buy a new house at Agave (Portola Springs) last weekend for cheaper than most resales, but I decided not too. I didnt really like the floor plans and I didnt want to settle for something I would not be satisfied with. I am going to wait for something I like for a price that works for me. I am not going to rush into it.

On a side note, the 8 Agave homes (Phase 1) were sold out in 45 minutes. These homes were not even finished and had no furniture. Phase 2 goes on sale this weekend. I also checked out Sendero last weekend. Just too far for me. Lots of new construction coming to the market soon. These will put a pressure on the resales. Competition is always good for the consumer.

I saw one lady give a deposit check, and after giving the check she asks the sales person "What is the price again?". Unbelievable!

I wonder how many people would regret buying without even having to think it through and making a rash decision.  :-\
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Westsiiide! on June 26, 2013, 09:45:20 PM
Is it me or does it feel like the high price frenzy is slowly going away?  Doesn't seem like there are as much homes closing with CASH purchase versus conventional loans..

I notice the same thing. Less cash buyers, less bidding wars, prices drops and longer time on the market.

I had an opportunity to buy a new house at Agave (Portola Springs) last weekend for cheaper than most resales, but I decided not too. I didnt really like the floor plans and I didnt want to settle for something I would not be satisfied with. I am going to wait for something I like for a price that works for me. I am not going to rush into it.

On a side note, the 8 Agave homes (Phase 1) were sold out in 45 minutes. These homes were not even finished and had no furniture. Phase 2 goes on sale this weekend. I also checked out Sendero last weekend. Just too far for me. Lots of new construction coming to the market soon. These will put a pressure on the resales. Competition is always good for the consumer.

I saw one lady give a deposit check, and after giving the check she asks the sales person "What is the price again?". Unbelievable!

I wonder how many people would regret buying without even having to think it through and making a rash decision.  :-\

Cash buyer?  English speaker?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: qwerty on June 26, 2013, 09:52:24 PM
I think he heard "what pri again?"
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on June 26, 2013, 10:05:52 PM
Is it me or does it feel like the high price frenzy is slowly going away?  Doesn't seem like there are as much homes closing with CASH purchase versus conventional loans..

I notice the same thing. Less cash buyers, less bidding wars, prices drops and longer time on the market.

I had an opportunity to buy a new house at Agave (Portola Springs) last weekend for cheaper than most resales, but I decided not too. I didnt really like the floor plans and I didnt want to settle for something I would not be satisfied with. I am going to wait for something I like for a price that works for me. I am not going to rush into it.

On a side note, the 8 Agave homes (Phase 1) were sold out in 45 minutes. These homes were not even finished and had no furniture. Phase 2 goes on sale this weekend. I also checked out Sendero last weekend. Just too far for me. Lots of new construction coming to the market soon. These will put a pressure on the resales. Competition is always good for the consumer.

I saw one lady give a deposit check, and after giving the check she asks the sales person "What is the price again?". Unbelievable!

I wonder how many people would regret buying without even having to think it through and making a rash decision.  :-\

Cash buyer?  English speaker?

Not sure if they were a cash buyer. Yes, English speaker.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: test on June 26, 2013, 10:14:54 PM
I am going to wait for something I like for a price that works for me. I am not going to rush into it.

Huh?  Agave is the lowest priced product in Portola Springs.  What are you going to wait for, them to sell you a parking space?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on June 26, 2013, 10:25:15 PM
This one will probably be the peak price for this model for awhile.. maybe +5% more since this one probably took a hit since it borders Jeffery.  looks to be an all cash Chinese buyer..

http://www.redfin.com/CA/Irvine/66-Crabapple-92620/home/5931374


Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on June 26, 2013, 10:28:58 PM
I am going to wait for something I like for a price that works for me. I am not going to rush into it.

Huh?  Agave is the lowest priced product in Portola Springs.  What are you going to wait for, them to sell you a parking space?

Every forum has a joker that entertains everyone. test is definitely the joker for this forum. Jokers keep the forum lively. Oh wait! I just remembered another quote.

“A stupid man's report of what a clever man says can never be accurate, because he unconsciously translates what he hears into something he can understand.” ― Bertrand Russell, A History of Western Philosophy


Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on June 26, 2013, 10:54:17 PM
This one will probably be the peak price for this model for awhile.. maybe +5% more since this one probably took a hit since it borders Jeffery.  looks to be an all cash Chinese buyer..

http://www.redfin.com/CA/Irvine/66-Crabapple-92620/home/5931374

They will get a nice surprise of traffic noise as Stonegate and Area 5A get built out. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: shadax on June 27, 2013, 07:21:49 AM
I am going to wait for something I like for a price that works for me. I am not going to rush into it.

Huh?  Agave is the lowest priced product in Portola Springs.  What are you going to wait for, them to sell you a parking space?

The problem with this "joke" is that you just contradicted yourself. You're the one who claims we're at the peak of another bubble. Not that I disagree, but still.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: The California Court Company on June 27, 2013, 08:44:55 PM
why it is slowing down? Chinese have found a new investment.
http://www.foxnews.com/world/2013/06/22/chinese-buy-up-canada-farms-is-beijing-behind-it/
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on June 28, 2013, 08:49:44 PM
I am going to wait for something I like for a price that works for me. I am not going to rush into it.

Huh?  Agave is the lowest priced product in Portola Springs.  What are you going to wait for, them to sell you a parking space?

The problem with this "joke" is that you just contradicted yourself. You're the one who claims we're at the peak of another bubble. Not that I disagree, but still.

Its test, what do you expect? test, contradicts himself/herself half the time. The other half makes no sense. test should go to the doctor and get some "tests" done.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on June 28, 2013, 08:56:02 PM
http://www.redfin.com/CA/Irvine/116-Hedge-Bloom-92618/home/40103056

Jun 28, 2013   Price Changed    $539,000
Jun 19, 2013   Price Changed    $559,900   
Jun 16, 2013   Listed (Active)     $584,900
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on July 06, 2013, 09:14:29 AM
Why does most people here hate/dislike Chinese?  Because they are rich??

Actually, it's not the Chinese buyers that bother me - it's the overt Chinese-focused marketing tactics of some realtors that I disdain.  Oh well... I have money too, but I guess I'm just not their target market - someone who can be sandbagged to pay above market because in comparison to real estate in major Asian cities, the price/sq ft in Irvine looks cheap.  Maybe I should just move to NY, get used to paying $1000 sq/ft, and when I get back, everything will look like it's on sale for less than half off.

Now here's an example of what I'm talking about - a new listing for all you Chinese FCB's out there:

http://www.redfin.com/CA/Irvine/4-Ivy-Gln-92620/home/5770041

It's being marketed just for you!  Look at all those 8's in the price!  Plus, according to the white realtor, it's FENG SHUI positive!  Hey, at least there's "asian" in "caucasian" so I'm sure he's at least half an expert.  So what if there are no comps to support the lofty price?  Why didn't the realtor highlight the Feng Shui lucky number 4 house address?   ;)


Taking hrcp's post and moving it here....

Over $600/sq ft...not sure if this will be a Dunn deal....but he did sell a Georgetown for $1 million recently.... And I wouldn't doubt that Dunn (Phil Dunphy!) knows quite a bit more about feng shui crap than most, you don't have to be Asian to learn hocus pocus.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on July 08, 2013, 11:22:38 AM
Why does most people here hate/dislike Chinese?  Because they are rich??

Actually, it's not the Chinese buyers that bother me - it's the overt Chinese-focused marketing tactics of some realtors that I disdain.  Oh well... I have money too, but I guess I'm just not their target market - someone who can be sandbagged to pay above market because in comparison to real estate in major Asian cities, the price/sq ft in Irvine looks cheap.  Maybe I should just move to NY, get used to paying $1000 sq/ft, and when I get back, everything will look like it's on sale for less than half off.

Now here's an example of what I'm talking about - a new listing for all you Chinese FCB's out there:

http://www.redfin.com/CA/Irvine/4-Ivy-Gln-92620/home/5770041

It's being marketed just for you!  Look at all those 8's in the price!  Plus, according to the white realtor, it's FENG SHUI positive!  Hey, at least there's "asian" in "caucasian" so I'm sure he's at least half an expert.  So what if there are no comps to support the lofty price?  Why didn't the realtor highlight the Feng Shui lucky number 4 house address?   ;)


Taking hrcp's post and moving it here....

Over $600/sq ft...not sure if this will be a Dunn deal....but he did sell a Georgetown for $1 million recently.... And I wouldn't doubt that Dunn (Phil Dunphy!) knows quite a bit more about feng shui crap than most, you don't have to be Asian to learn hocus pocus.
I'm very disappointed in Mike...the price should have been $2,888,888 not $2,688,888 so because of that it'll sit on the market.  lol
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: . on July 08, 2013, 12:49:29 PM
This is crazy.  I am looking for a 4 - 5 bedrooms in Irvine and I found

35 pending house in Irvine.  Most of them are million dollar home.
http://www.redfin.com/homes-for-sale#!hoa=200&market=socal&max_price=2000000&min_listing_approx_size=2000&min_price=600000&min_year_built=1980&num_beds=4&region_id=9361&region_type=6&sf=1&status=130&uipt=1&v=8

9 pending house in Torrance.
http://www.redfin.com/homes-for-sale#!hoa=200&market=socal&max_price=2000000&min_listing_approx_size=2000&min_price=600000&min_year_built=1980&num_beds=4&region_id=20094&region_type=6&sf=1&status=130&uipt=1&v=8

House sold in the last 3 month
117 house sold in Irvine
28 house sold in Torrance

House sold in the last month
31 house sold in Irvine
10 house sold in Torrance


Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on July 11, 2013, 01:27:04 PM
Some more price reductions in the past few days.

http://www.redfin.com/CA/Irvine/87-Weepingwood-92614/unit-33/home/5641294

http://www.redfin.com/CA/Irvine/76-Burlingame-92602/home/5842215

http://www.redfin.com/CA/Irvine/24-Pink-Sage-92620/home/12257361

http://www.redfin.com/CA/Irvine/45-Spanish-Lace-92620/home/7210806

http://www.redfin.com/CA/Irvine/28-Stanford-Ct-92612/unit-14/home/5679419

http://www.redfin.com/CA/Irvine/12-Tortoise-Shell-92604/home/4675697

http://www.redfin.com/CA/Irvine/116-Hedge-Bloom-92618/home/40103056

http://www.redfin.com/CA/Irvine/18-Leucadia-92602/unit-100/home/5917815

http://www.redfin.com/CA/Irvine/58-Riverstone-92606/unit-64/home/5201766

http://www.redfin.com/CA/Irvine/51-Flowerbud-92603/home/5947376

http://www.redfin.com/CA/Irvine/38-Rising-Sun-92620/home/5958985

http://www.redfin.com/CA/Irvine/23-Eastlake-92604/home/4690934

http://www.redfin.com/CA/Irvine/10-Pacific-Crst-92602/home/5859052

http://www.redfin.com/CA/Irvine/402-Terra-Bella-92602/home/5794236

http://www.redfin.com/CA/Irvine/1701-Elk-Grv-92618/home/4746385

http://www.redfin.com/CA/Irvine/204-Guinevere-92620/home/7211785

http://www.redfin.com/CA/Irvine/204-Guinevere-92620/home/7211785

http://www.redfin.com/CA/Irvine/34-Chardonnay-92614/unit-32/home/5578117

http://www.redfin.com/CA/Irvine/15-Arboretum-92620/home/12256291

http://www.redfin.com/CA/Irvine/52-Rockwood-92614/unit-63/home/5642849

http://www.redfin.com/CA/Irvine/169-Remington-92620/unit-168/home/5318453

http://www.redfin.com/CA/Irvine/24-San-Clemente-92602/home/5842136

http://www.redfin.com/CA/Irvine/83-Courant-92618/home/28932400

http://www.redfin.com/CA/Irvine/147-Silverado-92618/home/45462419

http://www.redfin.com/CA/Irvine/74-Greenmoor-92614/unit-37/home/5652802
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: IrvineRealtor on July 11, 2013, 01:40:46 PM
As devil's advocate, a quick review of the last 10 days of Irvine closings...

79 MLS-recorded sales.
41 of those closed for over their initial asking price.

-IR2
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: test on July 11, 2013, 02:02:03 PM
Some more price reductions in the past few days.

Too bad you still can't afford any of them.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Coleman on July 11, 2013, 05:48:13 PM
 
If I originally listed at $1,000,000 then lowered to $900,000 and sell at $920,000 is that still above asking?   

IR2, have you been seeing the appraisals for some of the houses sold come in higher or lower than expected during the escrow process?

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: IrvineRealtor on July 11, 2013, 06:14:34 PM

If I originally listed at $1,000,000 then lowered to $900,000 and sell at $920,000 is that still above asking?   

IR2, have you been seeing the appraisals for some of the houses sold come in higher or lower than expected during the escrow process?




If I originally listed at $1,000,000 then lowered to $900,000 and sell at $920,000 is that still above asking?   

IR2, have you been seeing the appraisals for some of the houses sold come in higher or lower than expected during the escrow process?



79 MLS-recorded sales.
41 of those closed for over their initial  asking price.

Appraisals have been coming in at about par (as expected) for most of the escrows that I've been seeing.
Closings have been higher than I'd expected.
There have also been a larger % of escrows I've seen falling apart due to the differences.

Many of the buyers are offering to make up the difference between sales price and appraisal price in their offers, but are finding it too bitter a pill to swallow once it becomes a reality...

There are good ways and bad ways to handle these situations.
-IR2
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Westsiiide! on July 11, 2013, 07:28:07 PM

There are good ways and bad ways to handle these situations.
-IR2

Can you elaborate what you mean by good ways and bad ways to handle [appraisals coming in lower than sales price]?  (if that's what you're referring to... curious to hear any stories here, whether sellers are often willing to come down in price, etc.).  TIA!      8)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on July 11, 2013, 07:38:58 PM
If the buyers are putting down 30%+ then unless the appraisal comes in way lower they will be able to get the loan they want since the lender will lend them up to 80% of the lower appraised value.  If a buyer is only wanting to putt down 20% and the appraisal comes in lower....that could be an issue. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Westsiiide! on July 11, 2013, 07:44:07 PM
assuming big fat down payment... for sake of argument then.  (thought here is that a buyer is potentially far overpaying for a home that is appraised too low... hence, future ability to resell, if needed, is constrained by a future buyer's ability to finance)...
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on July 11, 2013, 08:03:58 PM
assuming big fat down payment... for sake of argument then.  (thought here is that a buyer is potentially far overpaying for a home that is appraised too low... hence, future ability to resell, if needed, is constrained by a future buyer's ability to finance)...
Some buyers are either not comfortable with high LTV loans or they don't qualify for higher loan amounts.  It comes down to how much they like the home and how much competition there is for it so it just depends on the buyer. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on July 12, 2013, 11:40:54 AM
IR2 and USCTrojanCPA, are you guys seeing the price increases slowing down and/or prices stabilizing?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on July 12, 2013, 11:43:24 AM
IR2 and USCTrojanCPA, are you guys seeing the price increases slowing down and/or prices stabilizing?
Definitely....prices are not going up much now (except being a desirable floor plan in a desirable location). 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Soylent Green Is People on July 12, 2013, 12:05:02 PM
At the "Canyon Area" brokers preview (RSM/Coto/Dove/Ladera) the weekly norm of new listings was about 7-10. This week we had 27. The Agents were also starting to pitch range pricings ($400k list, but range priced from $375k to $400k) - a sure sign of price stabilization if not outright softening. The San Clemente preview had 40+ new listings last week, 70+ this week.

More cancellations, more re-listed homes at lower prices, and more range pricing tells me the 1.0% rate hike has started to eat into the listing Agents ability to conjure up redonkulous prices and hostage taker like terms of sale on behalf of their sellers.

My .02c

SGIP
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on July 12, 2013, 12:09:41 PM
At the "Canyon Area" brokers preview (RSM/Coto/Dove/Ladera) the weekly norm of new listings was about 7-10. This week we had 27. The Agents were also starting to pitch range pricings ($400k list, but range priced from $375k to $400k) - a sure sign of price stabilization if not outright softening. The San Clemente preview had 40+ new listings last week, 70+ this week.

More cancellations, more re-listed homes at lower prices, and more range pricing tells me the 1.0% rate hike has started to eat into the listing Agents ability to conjure up redonkulous prices and hostage taker like terms of sale on behalf of their sellers.

My .02c

SGIP
While the listings have increased at www.irvine-tustinbrokerpreview.com, the prices have not decreased... bleh.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: paperboyNC on July 12, 2013, 01:16:05 PM
Looks to me like prices have stabilized the past few months. Sellers aren't really willing to take a decrease, but it's taking longer to sell for the same price.

I'd guess that this house:
http://www.redfin.com/CA/Irvine/19-Sacred-Path-92618/home/39990922

will take longer to close than this one did:
http://www.redfin.com/CA/Irvine/38-Prickly-Pear-92618/home/45376497
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on July 12, 2013, 02:16:58 PM
A price drop of $60,000.

Jul 12, 2013   Price Changed   $419,900
Jun 28, 2013   Listed (Active)    $479,900

http://www.redfin.com/CA/Irvine/17-Morena-92612/unit-29/home/5496259
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: qwerty on July 12, 2013, 02:19:25 PM
While the listings have increased at www.irvine-tustinbrokerpreview.com, the prices have not decreased... bleh.
[/quote]

give it time grasshopper. eventually higher rates will give you your wish - a reasonably priced 3CWG!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: freedomcm on July 12, 2013, 03:22:45 PM
A price drop of $60,000.

Jul 12, 2013   Price Changed   $419,900
Jun 28, 2013   Listed (Active)    $479,900

http://www.redfin.com/CA/Irvine/17-Morena-92612/unit-29/home/5496259

hah, that's an abuela house, not a FCB grandmother house.  What do you expect?

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: test on July 12, 2013, 03:27:04 PM
A price drop of $60,000.

Jul 12, 2013   Price Changed   $419,900
Jun 28, 2013   Listed (Active)    $479,900

http://www.redfin.com/CA/Irvine/17-Morena-92612/unit-29/home/5496259

hah, that's an abuela house, not a FCB grandmother house.  What do you expect?



LOL
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Coleman on July 12, 2013, 03:33:38 PM
Is Freedom using BK's avatar?  Or a modified version of it?

I may be completely wrong, I am going off my memory of his avatar which I have not seen since 2008, haha
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: paperboyNC on July 15, 2013, 08:11:17 AM
http://www.redfin.com/CA/Irvine/21-Shaman-92618/home/7203783

Listed for $504/sq ft. Lambert Ranch, etc. homes at this price usually have over 4,000 sq ft.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on July 15, 2013, 09:32:11 AM
.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on July 15, 2013, 10:13:29 AM
http://www.redfin.com/CA/Irvine/60-Tall-Cedars-92620/home/7215346
Anyone remember which development is this former model home for?  I thought it was a Portisol, but the floorplans don't match up.  Or is the listing agent simply stating a fact as "one of a kind"?  I remember the Sonoma sales rep stated the three models homes were built before the Great Recession.

It's neighbor (http://www.redfin.com/CA/Irvine/62-Tall-Cedars-92620/home/7213226), a Portisol model home plan 4 just sold recently at over $500/sq ft.  Loved the 3rd floor/man cave
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: nosuchreality on July 15, 2013, 10:15:42 AM
http://www.redfin.com/CA/Irvine/21-Shaman-92618/home/7203783

Listed for $504/sq ft. Lambert Ranch, etc. homes at this price usually have over 4,000 sq ft.

They are certainly shooting for the moon with that asking price.  Considering the owner is completely moved out, I'd say the buyer could probably get that price down.

Seems a little discordant with the pink, green and blue in the bedrooms compared to the style in the living areas and kitchen. 

Also, IMHO, way too much color and texture photoshopping in those photos.  Most rooms have the highly fake look in the photos because they've been edited too much, including the last dreamily blurry exterior shot.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on July 15, 2013, 10:20:58 AM
How about this one? 14 pictures total but none of the house.

http://www.redfin.com/CA/Irvine/11-Cheyenne-92604/unit-61/home/5473751
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jamboreedude on July 15, 2013, 10:58:42 AM
How about this one? 14 pictures total but none of the house.

http://www.redfin.com/CA/Irvine/11-Cheyenne-92604/unit-61/home/5473751

got a lot to hide of the interior. must be a fixer upper crap for half a mil.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jamboreedude on July 15, 2013, 11:03:27 AM
http://www.redfin.com/CA/Irvine/21-Shaman-92618/home/7203783

Listed for $504/sq ft. Lambert Ranch, etc. homes at this price usually have over 4,000 sq ft.

one of the most expensive homes next to the Great Landfill.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on July 15, 2013, 11:34:49 AM
http://www.redfin.com/CA/Irvine/60-Tall-Cedars-92620/home/7215346
Anyone remember which development is this former model home for?  I thought it was a Portisol, but the floorplans don't match up.  Or is the listing agent simply stating a fact as "one of a kind"?  I remember the Sonoma sales rep stated the three models homes were built before the Great Recession.
Yeah... those weren't Portisol, more of a cousin because I believe they were built by CalPac too. They built the models and then the project was scrapped (but of course, someone says that builders never STOP building).
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on July 15, 2013, 11:41:37 AM
http://www.redfin.com/CA/Irvine/21-Shaman-92618/home/7203783

Listed for $504/sq ft. Lambert Ranch, etc. homes at this price usually have over 4,000 sq ft.
And no Mello Roos.   ;)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on July 15, 2013, 11:45:29 AM
http://www.redfin.com/CA/Irvine/60-Tall-Cedars-92620/home/7215346
Anyone remember which development is this former model home for?  I thought it was a Portisol, but the floorplans don't match up.  Or is the listing agent simply stating a fact as "one of a kind"?  I remember the Sonoma sales rep stated the three models homes were built before the Great Recession.

It's neighbor (http://www.redfin.com/CA/Irvine/62-Tall-Cedars-92620/home/7213226), a Portisol model home plan 4 just sold recently at over $500/sq ft.  Loved the 3rd floor/man cave
The HOA is only $35/mo....so that explains the $500/sf+ price.  This house gets a discount from the normal Woodbury HOA.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: iacrenter on July 15, 2013, 01:20:09 PM
http://www.redfin.com/CA/Irvine/60-Tall-Cedars-92620/home/7215346
Anyone remember which development is this former model home for?  I thought it was a Portisol, but the floorplans don't match up.  Or is the listing agent simply stating a fact as "one of a kind"?  I remember the Sonoma sales rep stated the three models homes were built before the Great Recession.
Yeah... those weren't Portisol, more of a cousin because I believe they were built by CalPac too. They built the models and then the project was scrapped (but of course, someone says that builders never STOP building).

+1 I believe IHO is right, it was a scuttled CalPac project. I remember those 3 model homes sitting fenced off by themselves for more than a year before Sonoma took over the area and started building.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jamboreedude on July 20, 2013, 09:07:52 AM
NEW Laguna Altura MLS listing:

54 BIANCO Irvine, CA 92618
http://www.redfin.com/CA/Irvine/54-Bianco-92618/home/40099657#!

It's friggin crazy asking price of $849K!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Homer_Simpson on July 20, 2013, 02:17:49 PM
Didn't want to create a new thread so I will just post here.. It's really nice out right now in Irvine... It's like 72 with a slight overcast... Hope everyone is enjoying their weekend :)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Coleman on July 20, 2013, 02:58:31 PM
Nice day outside? I'm inside at south coast looking for IHS, haha.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Homer_Simpson on July 20, 2013, 03:12:29 PM
LOL
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: test on July 20, 2013, 06:33:37 PM
Million dollar Mendocino Plan 2 with million dollar lighting.

(http://media.cdn-redfin.com/photo/45/bigphoto/268/OC13126268_7_1.jpg)

http://www.redfin.com/CA/Irvine/145-Beechmont-92620/home/49701807
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: aqua-Leo on July 20, 2013, 08:01:37 PM
Million dollar Mendocino Plan 2 with million dollar lighting.

(http://media.cdn-redfin.com/photo/45/bigphoto/268/OC13126268_7_1.jpg)

http://www.redfin.com/CA/Irvine/145-Beechmont-92620/home/49701807

LOL - perhaps for environmental friendly millionaires
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: shadax on July 20, 2013, 09:54:02 PM
Million dollar Mendocino Plan 2 with million dollar lighting.

(http://media.cdn-redfin.com/photo/45/bigphoto/268/OC13126268_7_1.jpg)

http://www.redfin.com/CA/Irvine/145-Beechmont-92620/home/49701807

Forget the fixture----  MENDOCINO DOESN'T HAVE PARKWAYS?? the models did.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jamboreedude on July 20, 2013, 11:45:18 PM
A million dollars is not what it used to be.  ???
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: IrvineHousewife on July 24, 2013, 07:59:06 PM
That LA home on Bianco selling in less than a week set the precedent...

http://www.redfin.com/CA/Irvine/40-Modena-92618/home/40439233

When did we go back to 2005 pricing?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: IrvineHousewife on July 24, 2013, 08:13:38 PM
If Bianco was any indicator, it will be scooped up by the weekend. Take that all you naysayers that said not to buy in LA.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: fluffy on July 24, 2013, 08:46:36 PM
wow... 'MERICA!!! FUCK YEAH~~!!!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: iacrenter on July 24, 2013, 11:20:42 PM
If Bianco was any indicator, it will be scooped up by the weekend. Take that all you naysayers that said not to buy in LA.

I'm sorry but even a piece of turd can sell in this market. It doesn't mean it's great.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jamboreedude on July 25, 2013, 07:29:58 AM
If Bianco was any indicator, it will be scooped up by the weekend. Take that all you naysayers that said not to buy in LA.

I'm sorry but even a piece of turd can sell in this market. It doesn't mean it's great.

I doubt this will be sold so fast. In fact, I think they will have to drop the price to get it sold.... only time will tell, maybe as soon as this weekend? haha http://www.redfin.com/CA/Irvine/40-Modena-92618/home/40439233
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: paperboyNC on July 25, 2013, 08:14:40 AM
http://www.redfin.com/CA/Irvine/21-Shaman-92618/home/7203783

Listed for $504/sq ft. Lambert Ranch, etc. homes at this price usually have over 4,000 sq ft.
And no Mello Roos.   ;)

And it went pending way faster than the $800K homes in PS have been. Go figure.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on July 25, 2013, 08:43:31 AM
Take that all you naysayers that said not to buy in LA.
I don't think the naysayers were saying not to buy in LA because you won't see appreciation... they just didn't like how the neighborhood was built out, its proximity to the 133, the high HOA and its distance from amenities.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: iacrenter on July 25, 2013, 09:37:22 AM
Take that all you naysayers that said not to buy in LA.
I don't think the naysayers were saying not to buy in LA because you won't see appreciation... they just didn't like how the neighborhood was built out, its proximity to the 133, the high HOA and its distance from amenities.

+1

I liked Cortona but the community is disappointing. TIC touted this as a luxury gated A-village but the design leaves much to be desired.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on July 25, 2013, 09:49:16 AM
I think the other problem with LA, was they recycled/modified the Stonegate floorplans... so there was always that "cost" comparison.

I liked Cortona too... esp the mods they did... but for $200k more, it's a tough sell. And for the same price, QH just seems like a better buy.

But I agree, everyone has their opinion... but Laguna Altura did take the longest to sell through compared to other TIC properties (and for a while, they had several homes on the MLS (aka not selling)).
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: JasonTheArtist on July 25, 2013, 09:53:42 AM
If Bianco was any indicator, it will be scooped up by the weekend. Take that all you naysayers that said not to buy in LA.

I'm sorry but even a piece of turd can sell in this market. It doesn't mean it's great.

I doubt this will be sold so fast. In fact, I think they will have to drop the price to get it sold.... only time will tell, maybe as soon as this weekend? haha http://www.redfin.com/CA/Irvine/40-Modena-92618/home/40439233

Went pending after 5 days on the market.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: . on July 25, 2013, 11:20:31 AM
well, there is always rich people and there is always stupid people.

I am just glad that I am not stupid enough to buy that....
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jamboreedude on July 25, 2013, 11:22:26 AM
Take that all you naysayers that said not to buy in LA.
I don't think the naysayers were saying not to buy in LA because you won't see appreciation... they just didn't like how the neighborhood was built out, its proximity to the 133, the high HOA and its distance from amenities.

+1

I liked Cortona but the community is disappointing. TIC touted this as a luxury gated A-village but the design leaves much to be desired.

It's 98% build out and people (mostly FCB's) are still looking to buy in this development!


Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jamboreedude on July 25, 2013, 11:27:49 AM
well, there is always rich people and there is always stupid people.

I am just glad that I am not stupid enough to buy that....

I think if you need a place to live and not look at it as an investment, it's ok to buy even at today's prices. looking long term, we all should do quite ok. with that said, go buy that 40 Modena place at Laguna Altura. You won't be disappointed.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: iacrenter on July 25, 2013, 01:03:41 PM
Take that all you naysayers that said not to buy in LA.
I don't think the naysayers were saying not to buy in LA because you won't see appreciation... they just didn't like how the neighborhood was built out, its proximity to the 133, the high HOA and its distance from amenities.

+1

I liked Cortona but the community is disappointing. TIC touted this as a luxury gated A-village but the design leaves much to be desired.

It's 98% build out and people (mostly FCB's) are still looking to buy in this development!


Clearly this is just my opinion and there are many people who spoke with their wallets.

The final community design was a let down to me. There was so much hype/speculation over the years leading up to Laguna Crossing/Laguna Altura. After seeing the initial community architectural drawings and then seeing the final build was painful. You could tell TIC got greedy and wanted to pack more homes into the community. On top of that, you see a company like the TNHMC come in at Lambert Ranch execute a better community design...just one more strike against TIC.

It is my hope that some lessons are taken when they design their next gated A-Village at Orchard Hills but I am very doubtful. Given how well new construction is selling in this market, TIC will simply continue to make shortcuts and instead spend money on the marketing. "California" this and "California" that while at the same time maximizing their profits and minimizing their lot sizes.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: zubs on July 26, 2013, 10:41:25 AM
If I were a shareholder of TIC & living in Newport Coast, I would approve.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: test on July 26, 2013, 10:51:49 AM
If I were a shareholder of TIC & living in Newport Coast, I would approve.

LOL.  LA is where the riff raff live.  :)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: zubs on July 26, 2013, 11:08:16 AM
Irvine is a ghetto compared to Newport Coast.  Perhaps if the Chinese knew this, they would be buying in 92657 instead of Shady Canyon/Turtle Ridge.  They can hang out with Kobe's wife at Pavilions!

In USA, the rich live by the coast, and property gets cheaper as one moves inland toward the desert. 
For that Laguna Altura vs. Lambert Ranch thread, Altura wins on this account.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: fluffy on July 26, 2013, 11:44:22 AM
laguna altura folks... hold ur horses... dont get too happy just yet, wait till the community south of lake forest to be built... the homes there are gonna be priced even more expensive then laguna altura... that will greatly effect and help our home values as well... :)

lol there will always be nay sayers... its like stock, ppl will bitch and say how retarded ppl bought google stock at 650... if it tanks then they can be like i told u so, when it goes up to 850-900s range, they will still have something to say... as long as ur benefitting, who cares?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: The California Court Company on July 26, 2013, 12:20:04 PM
even I have to admit that LA has the best potential for price appreciation among new neighborhoods => limited supply equals to high price, simple economics.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: paperboyNC on July 26, 2013, 02:58:53 PM
These sellers are crazy:
http://www.redfin.com/CA/Irvine/37-Canoe-92618/home/40461472

$414/sqft for an attached condo with virtually no yard. This is worth $675K at current prices. Unlike the $1.5m PS home I listed earlier with lots of land, this one definitely will not sell for anything close to asking price.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jamboreedude on July 26, 2013, 03:00:35 PM
Irvine is a ghetto compared to Newport Coast.  Perhaps if the Chinese knew this, they would be buying in 92657 instead of Shady Canyon/Turtle Ridge.  They can hang out with Kobe's wife at Pavilions!

In USA, the rich live by the coast, and property gets cheaper as one moves inland toward the desert. 
For that Laguna Altura vs. Lambert Ranch thread, Altura wins on this account.

The Chinese still prefers Irvine over Newport Coast, even the super wealthy ones.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on July 26, 2013, 06:08:49 PM
The Chinese still prefers Irvine over Newport Coast, even the super wealthy ones.
Why? XLB proximity?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: fluffy on July 26, 2013, 08:44:42 PM
i predict its just diversifying... rather than say buy homes in manhattan, san marino, beverly hills, or what nots... most of them buy multiple homes in cheaper locations where potential for appreciation is greater and much easier to rent out...
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: test on July 26, 2013, 09:30:16 PM
They rather buy multiple cheaper homes than a single expensive home.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on July 26, 2013, 09:32:36 PM
These sellers are crazy:
http://www.redfin.com/CA/Irvine/37-Canoe-92618/home/40461472

$414/sqft for an attached condo with virtually no yard. This is worth $675K at current prices. Unlike the $1.5m PS home I listed earlier with lots of land, this one definitely will not sell for anything close to asking price.
You can buy a 3bed/3bath 1,800sf attached condo under $700k in Quail Hill so why the hell would you spend $800k on one in Portola Springs?  They should be glad if they get over $700k. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jamboreedude on July 26, 2013, 09:36:04 PM
The Chinese still prefers Irvine over Newport Coast, even the super wealthy ones.
Why? XLB proximity?

There are more Chinese obviously, close proximity to Asian supermarkets and restaurants.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jamboreedude on July 27, 2013, 11:11:21 AM
Once there is enough critical mass, someone from another country can move here and get away without speaking very much (or any english).  When I lived in SF, there were many folks who didn't know any languages outside of Cantonese.  That worked for them, since their community is quite large.

true, no wonder my wife's English is getting worse by the day since we moved to Irvine!  >:(
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on July 27, 2013, 12:06:27 PM
Once there is enough critical mass, someone from another country can move here and get away without speaking very much (or any english).  When I lived in SF, there were many folks who didn't know any languages outside of Cantonese.  That worked for them, since their community is quite large.





You lived in SF too?  Irvine housing must feel like luxury mansions compared to what you can get in the City by the bay... I do miss the food though...
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on July 27, 2013, 12:25:47 PM
SF is awesome, lived there for 4 years.  They just built the city on the wrong side of the bay.  Everytime you go to Oakland or down south of SFO, you think to yourself, "why do i live in that miserable weather???".

But it gets tiring to do small things if you don't have a car... I used to do all the big box shopping in Colma or Daly City to avoid the congestion.

Miserable weather?... i lived on 48th in Outer Sunset.. I think I had the most miserable weather.. finding salt crystals on my car in the morning is not fun... At least I never miss the Judah, wakes me up every morning..and the best part... the original Crustacean (Thanh Long) is two blocks away... crab + wine + stumble home = good times
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on August 01, 2013, 11:40:19 AM
These sellers are crazy:
http://www.redfin.com/CA/Irvine/37-Canoe-92618/home/40461472

$414/sqft for an attached condo with virtually no yard. This is worth $675K at current prices. Unlike the $1.5m PS home I listed earlier with lots of land, this one definitely will not sell for anything close to asking price.

but wait................"The Living Room is Pre-Wired For A Plasma Connection for Your Entertainment."

Is that a huge selling point?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: qwerty on August 01, 2013, 12:45:27 PM
true, no wonder my wife's English Engrish is getting worse by the day since we moved to Irvine!  >:(

fixed that for you.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: paperboyNC on August 01, 2013, 01:38:45 PM

but wait................"The Living Room is Pre-Wired For A Plasma Connection for Your Entertainment."

Is that a huge selling point?

It means the home doesn't have much else going for it and the realtor was taught that you need at least X number of upgrades in your listing.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: daedalus on August 01, 2013, 03:38:32 PM
It also means the realtor isn't very tech savvy and doesn't understand the basics of home entertainment.  TVs can be plasma, or LED, or LCD, etc.  Connections aren't plasma.  I think he probably means there is in-wall wiring for a high definition signal.  What kind of interface?  HDMI?  And from where to where?  Just another forward projecting anal communicator.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Homer_Simpson on August 01, 2013, 03:40:32 PM
I think the realtor just mean that there is wired for a flat screen... meaning there are brackets and holes up there and we don't want to patch and paint it.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: daedalus on August 01, 2013, 04:26:52 PM
That too would support my original conclusion.  So the sellers are going to take the TV with them, but leave the brackets behind (including the pieces that bolt to the TV)?  What are the load specs?  What if the brackets don't support my 60" LED?  Or articulate enough to suit my tastes/furniture layout? I still think they mean wired, since there are no wires running up the wall.   
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Vinster on August 01, 2013, 05:21:45 PM
These sellers are crazy:
http://www.redfin.com/CA/Irvine/37-Canoe-92618/home/40461472

$414/sqft for an attached condo with virtually no yard. This is worth $675K at current prices. Unlike the $1.5m PS home I listed earlier with lots of land, this one definitely will not sell for anything close to asking price.

but wait................"The Living Room is Pre-Wired For A Plasma Connection for Your Entertainment."

Is that a huge selling point?
Maybe if you're a vampire?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on August 01, 2013, 06:56:05 PM
I think the realtor just mean that there is wired a place for a flat screen... meaning there are brackets and holes up there and we don't want to patch and paint it.
Probably more likely.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on August 01, 2013, 07:09:06 PM
125 homes (Source: Redfin) in Irvine have reduced their asking price in the last 30 days. Looks like the buying frenzy is cooling down.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on August 01, 2013, 07:11:02 PM
http://www.redfin.com/CA/Irvine/56-Bower-Tree-92603/home/5951393

$666/SF for a 1,275 SF home.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: freedomcm on August 02, 2013, 06:42:47 AM
http://www.redfin.com/CA/Irvine/56-Bower-Tree-92603/home/5951393

$666/SF for a 1,275 SF home.

hah, $850k for a tiny condo with home depot grade finishes....

i guess we'll see what the market is really like for turtle ridge, eh?

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: . on August 02, 2013, 10:23:26 AM
http://www.redfin.com/CA/Irvine/56-Bower-Tree-92603/home/5951393

$666/SF for a 1,275 SF home.

hah, $850k for a tiny condo with home depot grade finishes....

i guess we'll see what the market is really like for turtle ridge, eh?

Yeah.  He bought in 2006 for 785K.  That's 615/SF.  That's a little unintelligent.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on August 05, 2013, 10:36:49 AM
http://www.redfin.com/CA/Irvine/1321-Abelia-92606/home/12255158

$640,000 for a 1300 SF attached 3-level condo that has $529 HOA.

Edit: With a tandem garage.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on August 05, 2013, 12:42:46 PM
http://www.redfin.com/CA/Irvine/1321-Abelia-92606/home/12255158

$640,000 for a 1300 SF attached 3-level condo that has $529 HOA.
I don't think the HOA is $529/mo...more like $329/mo is my guess.  That being said, I think the seller and/or listing agent may have ODed on the Koolaid with their $486/sf pricing.  It'll probably close around $500k +/- is my guess.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Homer_Simpson on August 05, 2013, 01:23:20 PM
I've been seeing a lot of WTF prices drop down to reality. 

There's that Tustin Ranch home on Whitworth that was purchased for $620k a few months back, fixed up a little and listed for $799k.  The home is now listed at $699k.. LOL..

The agent told me they had high end upgrades they did to the home... I looked at the home yesterday and it was like home depot specials etc.... You can still see the indentation/paint from the old cabinets they replaced in the kitchen ceiling haha. 

Ridonkolous!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jamboreedude on August 06, 2013, 06:21:27 PM
40 MODENA Irvine, CA 92618
Status: Backup Offers Accepted
http://www.redfin.com/CA/Irvine/40-Modena-92618/home/40439233

SOLD for sure? Just 13 days on the market! Why backup offer?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on August 06, 2013, 06:31:47 PM
.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on August 06, 2013, 06:38:59 PM
This is a first. Went from Sold to Pending.  :-\

Status: Changed from Sold to Pending

http://www.redfin.com/CA/Irvine/53-Cartier-Aisle-92620/home/5547526
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jamboreedude on August 06, 2013, 06:50:05 PM
40 MODENA Irvine, CA 92618
Status: Backup Offers Accepted
http://www.redfin.com/CA/Irvine/40-Modena-92618/home/40439233

SOLD for sure? Just 13 days on the market! Why backup offer?


Isn't accepting backup offers just standard?  You never know what can happen in escrow.

54 BIANCO Irvine, CA 92618
Status: Pending
This one says "pending" only, no backup offers accepted; a legitimate offer unlike 40 Modena, Irvine CA 92618. backup offers are uncertain ones!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: fluffy on August 07, 2013, 04:59:15 AM
wow...
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jamboreedude on August 09, 2013, 04:53:03 PM
New WTF listing at Laguna Altura:

28 BIANCO, Irvine, CA 92618
Asking: $795,000 ($491 / Sq. Ft.)
Beds 2.5
Baths 1,618 Sq. Ft.
Built: 2012
http://www.redfin.com/CA/Irvine/39-Bianco-92618/home/40633769
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Funkie on August 09, 2013, 05:03:58 PM
Not so WTF if you consider 40 Modena in Laguna Altura went to "pending" status in 14 days....

http://www.redfin.com/CA/Irvine/40-Modena-92618/home/40439233

Considering Willow Bend in UP is also over $500/sqft, LA is pretty reasonable considering you are in a brand new neighborhood w/ 24 hr guard gated entrance, new parks, pool, and clubhouse. 

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Coleman on August 09, 2013, 06:08:36 PM
Wow, Irvine must be a realtor's dream job. You can sell houses with less than stellar photography!  That 28 Bianco has such poor resolution in the photos. I would be pretty upset if I was the property owner. 

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jamboreedude on August 09, 2013, 08:14:09 PM
Wow, Irvine must be a realtor's dream job. You can sell houses with less than stellar photography!  That 28 Bianco has such poor resolution in the photos. I would be pretty upset if I was the property owner.

According to the listing, the realtor is:

Ramin Ghazi,
Realty One Group Inc
DRE #01363193

About Ramin Ghazi:
http://www.raminghazi.com/profile.htm

He should put a lot more effort in taking better photos of a $800K home!!!  Lazy! >:(
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on August 10, 2013, 10:41:14 PM

http://www.raminghazi.com/profile.htm

He should put a lot more effort in taking better photos of a $800K home!!!  Lazy! >:(

What's funny is that the picture of himself on the website has the words "is an evaluation ver(sion)".  Guess he used some shareware program to re-size that picture.  Pretty unprofessional looking if you ask me. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on August 13, 2013, 11:13:27 AM
Lower asking prices than what a comparable sold for just three weeks ago. Looks like the market is starting to change. I wonder which of these three would sell first. My guess is that 77 Sapphire will sell last since its a short sale. Nobody wants to deal with the bank BS.

http://www.redfin.com/CA/Irvine/54-Sapphire-92602/unit-1/home/5884958    ($545,000)

http://www.redfin.com/CA/Irvine/57-Sapphire-92602/home/5885101    ($550,000)   

http://www.redfin.com/CA/Irvine/77-Sapphire-92602/unit-49/home/5885252    ($535,000)


This is the one that just sold on July 24, 2013.

http://www.redfin.com/CA/Irvine/38-Sapphire-92602/unit-103/home/5845868    ($580,000)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Pippi on August 13, 2013, 11:28:28 AM
http://www.redfin.com/CA/Irvine/77-Sapphire-92602/unit-49/home/5885252    ($535,000)

Why people carpet their water closets is beyond me!   Yuck overspray and bread crumbs in the carpet!   :o

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on August 13, 2013, 01:47:42 PM
Lower asking prices than what a comparable sold for just three weeks ago. Looks like the market is starting to change. I wonder which of these three would sell first. My guess is that 77 Sapphire will sell last since its a short sale. Nobody wants to deal with the bank BS.

http://www.redfin.com/CA/Irvine/54-Sapphire-92602/unit-1/home/5884958    ($545,000)

http://www.redfin.com/CA/Irvine/57-Sapphire-92602/home/5885101    ($550,000)   

http://www.redfin.com/CA/Irvine/77-Sapphire-92602/unit-49/home/5885252    ($535,000)


This is the one that just sold on July 24, 2013.

http://www.redfin.com/CA/Irvine/38-Sapphire-92602/unit-103/home/5845868    ($580,000)
Those listings are not all the same floor plan even though they have the same square feet (1500).  The first one is a plan 4 which is the most popular one and trades at the highest price.  The other two are plan 3s which is the less desirable one. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Pippi on August 13, 2013, 02:13:07 PM
http://www.redfin.com/CA/Irvine/77-Sapphire-92602/unit-49/home/5885252    ($535,000)

Why people carpet their water closets is beyond me!   Yuck overspray and bread crumbs in the carpet!   :o

How hard is it to stake the tree in picture 6?  That's just unbelievable they are letting it grow at a 45 degree angle.

Actually she ran into it!  Like my FOB neighbors who keep hitting the side of their garage.
(http://farm4.static.flickr.com/3070/3597750116_22df5d372b_m.jpg)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Coleman on August 13, 2013, 02:31:32 PM
That white TV in 77 Sapphire should go to the Tesla thread.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on August 13, 2013, 02:43:40 PM
http://www.redfin.com/CA/Irvine/77-Sapphire-92602/unit-49/home/5885252    ($535,000)

Why people carpet their water closets is beyond me!   Yuck overspray and bread crumbs in the carpet!   :o

How hard is it to stake the tree in picture 6?  That's just unbelievable they are letting it grow at a 45 degree angle.

Actually she ran into it!  Like my FOB neighbors who keep hitting the side of their garage.
(http://farm4.static.flickr.com/3070/3597750116_22df5d372b_m.jpg)

Looks like she is throwing up gang signs...

That's how she drives...
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on August 13, 2013, 10:36:39 PM
Sold about $200,000 below listing price within one week for cash?!  ???

Almost 2,700 SF with a 9,148 SF cul-de-sac lot with $42 HOA and 1.14% tax rate (includes Mello Roos).

Aug 12, 2013   Sold (MLS) (Closed) $880,800
Jul 03, 2013   Pending (Backup Offers Accepted)
Jun 18, 2013   Delisted (Withdrawn)
Jun 11, 2013   Listed (Active)  $1,079,500
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on August 14, 2013, 07:51:06 AM
http://www.redfin.com/CA/Irvine/77-Sapphire-92602/unit-49/home/5885252    ($535,000)

Why people carpet their water closets is beyond me!   Yuck overspray and bread crumbs in the carpet!   :o

How hard is it to stake the tree in picture 6?  That's just unbelievable they are letting it grow at a 45 degree angle.

Actually she ran into it!  Like my FOB neighbors who keep hitting the side of their garage.
(http://farm4.static.flickr.com/3070/3597750116_22df5d372b_m.jpg)

Looks like she is throwing up gang signs...

That's how she drives...
Drive-by piano lessons!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: paperboyNC on August 14, 2013, 09:20:45 AM
Sold about $200,000 below listing price within one week for cash?!  ???

Almost 2,700 SF with a 9,148 SF cul-de-sac lot with $42 HOA and 1.14% tax rate (includes Mello Roos).

Aug 12, 2013   Sold (MLS) (Closed) $880,800
Jul 03, 2013   Pending (Backup Offers Accepted)
Jun 18, 2013   Delisted (Withdrawn)
Jun 11, 2013   Listed (Active)  $1,079,500

Link?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bearman81 on August 14, 2013, 09:27:51 AM
I think this was for 7 Anzio.  Nice cash discount right?!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on August 14, 2013, 10:32:27 AM
Sold about $200,000 below listing price within one week for cash?!  ???

Almost 2,700 SF with a 9,148 SF cul-de-sac lot with $42 HOA and 1.14% tax rate (includes Mello Roos).

Aug 12, 2013   Sold (MLS) (Closed) $880,800
Jul 03, 2013   Pending (Backup Offers Accepted)
Jun 18, 2013   Delisted (Withdrawn)
Jun 11, 2013   Listed (Active)  $1,079,500

Link?

http://www.redfin.com/CA/Irvine/7-Anzio-92614/home/4661983
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: flipper on August 14, 2013, 11:11:33 AM
Sold about $200,000 below listing price within one week for cash?!  ???

Almost 2,700 SF with a 9,148 SF cul-de-sac lot with $42 HOA and 1.14% tax rate (includes Mello Roos).

Aug 12, 2013   Sold (MLS) (Closed) $880,800
Jul 03, 2013   Pending (Backup Offers Accepted)
Jun 18, 2013   Delisted (Withdrawn)
Jun 11, 2013   Listed (Active)  $1,079,500

Link?

http://www.redfin.com/CA/Irvine/7-Anzio-92614/home/4661983

I think there were under table agreements to put the sold price low so that the seller didn't have to pay capital gain on top of $500k allowance. As this is an all cash deal, it is not easy to detect.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on August 14, 2013, 11:16:55 AM
Must be a FCB since there are so many "8"s in the sale price.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: flipper on August 14, 2013, 11:31:06 AM
Must be a FCB since there are so many "8"s in the sale price.

Should be as the selling agent is Chinese.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on August 14, 2013, 01:27:25 PM
The listing agent is that guy from IHB?  Don't remember....
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: zubs on August 14, 2013, 02:56:57 PM
Sold about $200,000 below listing price within one week for cash?!  ???

Almost 2,700 SF with a 9,148 SF cul-de-sac lot with $42 HOA and 1.14% tax rate (includes Mello Roos).

Aug 12, 2013   Sold (MLS) (Closed) $880,800
Jul 03, 2013   Pending (Backup Offers Accepted)
Jun 18, 2013   Delisted (Withdrawn)
Jun 11, 2013   Listed (Active)  $1,079,500

Link?

http://www.redfin.com/CA/Irvine/7-Anzio-92614/home/4661983

I think there were under table agreements to put the sold price low so that the seller didn't have to pay capital gain on top of $500k allowance. As this is an all cash deal, it is not easy to detect.

I like the way you think sir.
So 880,800 is official, and the buyer pays $150,000 cash into the sellers swiss bank account.
Or it could be $150,000 worth of blowjobs...or gift cards? or vacations? or 2 Teslas? Tesli?




Actually after looking at the pictures in the redfin link...880 looks right.

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Veronica on August 14, 2013, 10:39:33 PM
7 Anzio...Yup, something fishy is going on here. Since 8 Fierro (smaller lot and deafening noise level from Culver) is sold for $900K and 5 Corsica (much smaller house with a smaller lot) for $890K... Smells like under the table $ exchange.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: test on August 16, 2013, 03:30:32 PM
Sold for above asking.

http://www.redfin.com/CA/Irvine/30-Dreamlight-92603/home/5929484


Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Homer_Simpson on August 16, 2013, 04:02:50 PM
Cash too  :D
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jamboreedude on August 16, 2013, 05:09:38 PM
Laguna Altura new listing:

55 CIPRESSO Irvine, CA 92618
http://www.redfin.com/CA/Irvine/55-Cipresso-92618/home/49869999
Asking: $1,050,000

A million dollar motorcourt home  ::)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on August 16, 2013, 05:59:25 PM
Laguna Altura new listing:

55 CIPRESSO Irvine, CA 92618
http://www.redfin.com/CA/Irvine/55-Cipresso-92618/home/49869999
Asking: $1,050,000

A million dollar motorcourt home  ::)

"premium street-side location".  Guess this will be the hot phrase for motorcourt homes that are not sandwiched between other motorcourt homes.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: test on August 16, 2013, 06:09:01 PM
"premium street-side location".  Guess this will be the hot phrase for motorcourt homes that are not sandwiched between other motorcourt homes.

Street side is the worst location, you are the first target in a drive by.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeshopper on August 16, 2013, 07:07:23 PM
There is no such thing as Drive-by in Irvine. It is always "self inflicted".

"premium street-side location".  Guess this will be the hot phrase for motorcourt homes that are not sandwiched between other motorcourt homes.

Street side is the worst location, you are the first target in a drive by.

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: freedomcm on August 17, 2013, 08:53:13 AM
this is the first time i've appreciated test's humor:

"premium street-side location".  Guess this will be the hot phrase for motorcourt homes that are not sandwiched between other motorcourt homes.

Street side is the worst location, you are the first target in a drive by.

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on August 17, 2013, 12:57:27 PM
Street side is the worst location, you are the first target in a drive by.

Very true.  Actually, you will be the only target in a drive by unless the car drives into the motorcourt area which would be a huge pain.  The driver would have to do a 3 point turn at the end of the motorcourt to leave!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on August 17, 2013, 01:06:49 PM
Street side is the worst location, you are the first target in a drive by.

Very true.  Actually, you will be the only target in a drive by unless the car drives into the motorcourt area which would be a huge pain.  The driver would have to do a 3 point turn at the end of the motorcourt to leave!

This just got awkward if they have to do a Austin Powers at the end of the driveway :)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: . on August 21, 2013, 09:36:14 AM
Can someone explain why is this house so good that it got "sold/pending" twice.

http://www.redfin.com/CA/Irvine/211-Desert-Bloom-92618/home/49736358
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: IrvineRealtor on August 21, 2013, 09:42:25 AM
Can someone explain why is this house so good that it got "sold/pending" twice.

http://www.redfin.com/CA/Irvine/211-Desert-Bloom-92618/home/49736358

I believe that APN is a "placeholder" for the new home sales for Garden Hill w/KB.  Listing agent is a KB employee.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on August 22, 2013, 11:02:58 PM
http://www.redfin.com/CA/Irvine/53-Waterspout-92620/home/5959195

Haven't seen such a crazy WTF asking price in awhile (now that things are cooling down).  I'm sure Ikeda knows that 1.335 million is an absolute insane asking price.  Seller paid $850k just 4 years ago!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: paperboyNC on August 27, 2013, 09:03:56 AM
Why would you buy this for $998K ($428/ft) detached condo:
http://www.redfin.com/CA/Irvine/49-Scarlet-Bloom-92618/home/49872210

When you can buy this for $880K ($382/ft) single family residence:
http://www.redfin.com/CA/Irvine/31-Pawprint-92618/home/49870128

The cheaper one also has more upgraded bathrooms.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on August 27, 2013, 09:16:46 AM
[
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jamboreedude on August 27, 2013, 09:49:38 AM
Why would you buy this for $998K ($428/ft) detached condo:
http://www.redfin.com/CA/Irvine/49-Scarlet-Bloom-92618/home/49872210

When you can buy this for $880K ($382/ft) single family residence:
http://www.redfin.com/CA/Irvine/31-Pawprint-92618/home/49870128

The cheaper one also has more upgraded bathrooms.

I've seen the Scarlet Bloom floorplan.  Not a fan in general of 3 story houses.  It gets unbearably hot upstairs and you need to install a whole house fan  in order to keep it cool.

Off the subject, but running the whole home fan is expensive according to SoCal Edison. We received a ridiculous bill a few months ago and asked about it.  They claimed running a whole home fan 24/7 like the builder suggested will increase your bill by $50-100!

The whole home fan is the switch in the laundry room, right?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: qwerty on August 27, 2013, 11:47:27 AM
If i was a Clemson fan, i would buy the one at pawprint and put a big Clemson paw on the driveway.

you dont need to be clemson fan to do it, some should just do it.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: . on August 27, 2013, 12:30:41 PM
Why would you buy this for $998K ($428/ft) detached condo:
http://www.redfin.com/CA/Irvine/49-Scarlet-Bloom-92618/home/49872210

When you can buy this for $880K ($382/ft) single family residence:
http://www.redfin.com/CA/Irvine/31-Pawprint-92618/home/49870128

The cheaper one also has more upgraded bathrooms.

Wow, tiny lot size.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: paperboyNC on August 27, 2013, 12:57:08 PM
Why would you buy this for $998K ($428/ft) detached condo:
http://www.redfin.com/CA/Irvine/49-Scarlet-Bloom-92618/home/49872210

When you can buy this for $880K ($382/ft) single family residence:
http://www.redfin.com/CA/Irvine/31-Pawprint-92618/home/49870128

The cheaper one also has more upgraded bathrooms.

Wow, tiny lot size.

zero lot line - i.e. doesn't include the front yard or driveway in the lot size
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: IrvineRealtor on August 27, 2013, 03:57:11 PM
Why would you buy this for $998K ($428/ft) detached condo:
http://www.redfin.com/CA/Irvine/49-Scarlet-Bloom-92618/home/49872210

When you can buy this for $880K ($382/ft) single family residence:
http://www.redfin.com/CA/Irvine/31-Pawprint-92618/home/49870128

The cheaper one also has more upgraded bathrooms.

Wow, tiny lot size.

zero lot line - i.e. doesn't include the front yard or driveway in the lot size

Clarification:

zero lot line is when the wall of the home runs along the line of the lot marker.
They can be detached
(http://www.psrc.org/assets/7916/zero_lot_line_1.jpg)
or attached
(http://www.nyc.gov/html/dcp/gif/zone/zh_semi_detached_building.jpg)

This does not  mean that the front yard or driveway are not included in lot size calculations.

-IR2

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on August 27, 2013, 05:13:39 PM
Zero lot line = playing handball on my neighbor's wall :)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on August 27, 2013, 08:45:15 PM
The price on this REO home is actually very good and will probably go over list, but I posted it because I noticed that Bank of America listed it for sale over 4 years after they foreclosed on it... :-\  ???

http://www.redfin.com/CA/Irvine/85-Legacy-Way-92602/home/4791996

Btw, this is the perfect 3-car garage home for you IHO...only one neighbor...go get it!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: iacrenter on August 27, 2013, 10:34:20 PM
The price on this REO home is actually very good and will probably go over list, but I posted it because I noticed that Bank of America listed it for sale over 4 years after they foreclosed on it... :-\  ???

http://www.redfin.com/CA/Irvine/85-Legacy-Way-92602/home/4791996

Btw, this is the perfect 3-car garage home for you IHO...only one neighbor...go get it!

WTF? This house sat empty for four years? Can you tell if it was rented out? No wonder my BoA stock is in the gutter.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: test on August 27, 2013, 11:12:01 PM
Probably had someone squatting in it.  Our neighbor in our old place was doing that... real dodgy stuff.  You never saw him put out a trash can...always stayed with the blinds drawn... only left at night.



This is what happens when there's no HOA and Mello Roos to keep the riff raff out.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on August 27, 2013, 11:12:35 PM
Probably had someone squatting in it.  Our neighbor in our old place was doing that... real dodgy stuff.  You never saw him put out a trash can...always stayed with the blinds drawn... only left at night.
Vampire?

I like the micro location of the home, corner lot, backs a park... but West Irvine is too far north for me.

Honestly though, if you're going to pay close to $1mil, there are other hoods in Irvine that are closer to the 405 that *I* prefer. No doubt someone else will like the West Irvine location better... especially with that lot size. And my knees like the downstairs master, but my kids won't.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: gld2 on August 28, 2013, 09:45:08 AM
Is it 9 feet or 8 feet ceiling?

The price on this REO home is actually very good and will probably go over list, but I posted it because I noticed that Bank of America listed it for sale over 4 years after they foreclosed on it... :-\  ???

http://www.redfin.com/CA/Irvine/85-Legacy-Way-92602/home/4791996

Btw, this is the perfect 3-car garage home for you IHO...only one neighbor...go get it!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: test on September 29, 2013, 09:54:21 PM
WTF dude thinks Quail Hill is Shady Canyon

http://www.redfin.com/CA/Irvine/24-Dreamlight-92603/home/5929494

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on September 29, 2013, 11:09:53 PM
WTF dude thinks Quail Hill is Shady Canyon

http://www.redfin.com/CA/Irvine/24-Dreamlight-92603/home/5929494



Beautiful property, but 3 bdrms in a 3100 sq ft house?  Layout is very inefficient..
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: qwerty on September 30, 2013, 07:07:07 AM
That's a great house. If Laguna altura is fetching 500/ft, I can see someone spending 700/ft for this.  Single story, view, highly upgraded. All it takes is one person.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on September 30, 2013, 10:39:39 AM
Neh... only a 3-car tandem.

I like Vicara but prefer the Plan 3 (3CLG).
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: qwerty on September 30, 2013, 10:54:30 AM
$700 / sq. foot is what listings in Shady Canyon, Newport Coast (see Kobe's place) and Laguna Beach go for.

That's just nuts to expect one house to sell at that price point when the houses around it can't sell for that much per sq. ft.

You live in the home but you buy the neighborhood.



every new listing tries to set a new comp. these guys are just a little ahead of themselves.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: OCgasman on September 30, 2013, 03:19:45 PM
Neh... only a 3-car tandem.

I like Vicara but prefer the Plan 3 (3CLG).
I loved Vicara when I went thru the models years ago.  It was just out of my price range at the time.  There was a model with a wine cellar and front and back stairs, loved that model.  Still do.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: test on October 20, 2013, 06:06:42 PM
Nice fridge, but not for 1.1 mil!

(http://media.cdn-redfin.com/photo/45/bigphoto/528/OC13213528_3_1.jpg)

http://www.redfin.com/CA/Irvine/41-Midnight-Sky-92620/home/5959375

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on October 20, 2013, 06:27:23 PM
[.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: test on October 20, 2013, 06:56:02 PM
Seriously, who cares about the refrigerator when you are buying a house?

Its considered personal property unless specifically included by the seller in the purchase contract!

This isn't Santa Ana bro, people don't strip the house before handing over the keys.  Built-in fridges are a fixture attached to the house.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on October 20, 2013, 07:06:49 PM
[.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: test on October 20, 2013, 09:47:58 PM
Seriously, who cares about the refrigerator when you are buying a house?

Its considered personal property unless specifically included by the seller in the purchase contract!

This isn't Santa Ana bro, people don't strip the house before handing over the keys.  Built-in fridges are a fixture attached to the house.

Read what i wrote fool, it still applies regardless...

And since English is obviously not your first language, have someone else who understand words larger than 1 syllable read it to you - it might make more sense.

You must be deaf, dumb and blind.  Let me repeat - Built-in fridges are a fixture attached to the house.  That means it's NOT personal property.  It must be specifically EXCLUDED in the purchase contract dumb ass!!!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on October 20, 2013, 09:54:00 PM
.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on October 22, 2013, 02:19:16 PM
Seriously, who cares about the refrigerator when you are buying a house?

Its considered personal property unless specifically included by the seller in the purchase contract!

This isn't Santa Ana bro, people don't strip the house before handing over the keys.  Built-in fridges are a fixture attached to the house.

Read what i wrote fool, it still applies regardless...

And since English is obviously not your first language, have someone else who understand words larger than 1 syllable read it to you - it might make more sense.

You must be deaf, dumb and blind.  Let me repeat - Built-in fridges are a fixture attached to the house.  That means it's NOT personal property.  It must be specifically EXCLUDED in the purchase contract dumb ass!!!


test, relax. You should go get your blood pressure checked. With all the CAPS, bold, and "!!!" marks, you are going to pop a blood vessel in the tiny head of yours. If that happens, we will truly miss our TI troll.......
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on October 29, 2013, 08:26:02 AM
O.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on October 29, 2013, 08:34:15 AM
$1m in upgrades? Really? What could cost $1m? Gold toilets? Platinum plumbing?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: paperboyNC on October 29, 2013, 09:32:15 AM
$1m in upgrades? Really? What could cost $1m? Gold toilets? Platinum plumbing?

Maybe they let them add on a lot of square footage?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jamboreedude on October 29, 2013, 09:35:53 AM
$1m in upgrades? Really? What could cost $1m? Gold toilets? Platinum plumbing?

Next to the Golden Dump  (Frank Bowerman Landfill) ;D
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: NYT on October 29, 2013, 06:36:28 PM
The yard & pool is about 120-150K minimum.  Then I bet they added the upgrades through the builder (like putting wood flooring in the garage!), chandeliers, paint, ceiling fans, bookshelves, wainscoting, AV upgrades, etc.

they are counting 200k worth of furniture in the listing.

I'd love to see the complete list of upgrades.

Given my own recent landscaping costs, I'd double your estimate for the yard and pool.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on October 29, 2013, 06:40:23 PM
[q.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Ready2Downsize on October 29, 2013, 08:07:53 PM
$1m in upgrades? Really? What could cost $1m? Gold toilets? Platinum plumbing?

Looks like a coffered ceiling and those are expensive if done well.

Doesn't mean they'll get their money back tho.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on November 05, 2013, 07:12:27 PM
Looks like home sales at Agave are slowing down. They are showing up on MLS, more than 30 days and price reductions.

http://www.redfin.com/CA/Irvine/180-Borrego-Dr-92618/home/52268299

http://www.redfin.com/CA/Irvine/170-Borrego-Dr-92618/home/50259999

http://www.redfin.com/CA/Irvine/174-Borrego-Dr-92618/home/52266249

http://www.redfin.com/CA/Irvine/172-Borrego-Dr-92618/home/52203266
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on December 12, 2013, 06:15:21 AM
/
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on December 12, 2013, 02:48:17 PM
One of LR's the Grove has hit the market.  Asking $2.6M with over $1M (!!) in upgrades.  $500psf.  Weren't these selling for like low $300s psf just a year ago?  Looks like a good lot though. 

http://www.redfin.com/CA/Irvine/50-Clifford-92618/home/52204021

A recent comp (75 Clifford) sold for $2m two months ago.  No landscaping, but the interior looked fairly upgraded.  Slightly smaller, sold at $413 psf.

http://www.redfin.com/CA/Irvine/75-Clifford-92618/home/45498169

This went pending after 44 days.  Will be curious to see what it closes at.

$2,325,000.
$274,888 (11%) below asking.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: test on December 12, 2013, 03:07:10 PM
One of LR's the Grove has hit the market.  Asking $2.6M with over $1M (!!) in upgrades.  $500psf.  Weren't these selling for like low $300s psf just a year ago?  Looks like a good lot though. 

http://www.redfin.com/CA/Irvine/50-Clifford-92618/home/52204021

A recent comp (75 Clifford) sold for $2m two months ago.  No landscaping, but the interior looked fairly upgraded.  Slightly smaller, sold at $413 psf.

http://www.redfin.com/CA/Irvine/75-Clifford-92618/home/45498169

This went pending after 44 days.  Will be curious to see what it closes at.

$2,325,000.
$274,888 (11%) below asking.

$2,325,001 above what you can afford.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on December 12, 2013, 03:45:30 PM
[.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on December 12, 2013, 04:19:41 PM
One of LR's the Grove has hit the market.  Asking $2.6M with over $1M (!!) in upgrades.  $500psf.  Weren't these selling for like low $300s psf just a year ago?  Looks like a good lot though. 

http://www.redfin.com/CA/Irvine/50-Clifford-92618/home/52204021

A recent comp (75 Clifford) sold for $2m two months ago.  No landscaping, but the interior looked fairly upgraded.  Slightly smaller, sold at $413 psf.

http://www.redfin.com/CA/Irvine/75-Clifford-92618/home/45498169

This went pending after 44 days.  Will be curious to see what it closes at.

$2,325,000.
$274,888 (11%) below asking.

$2,325,001 above what you can afford.
Did you mean $2,324,999? Having problems using a calculator?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: NYT on December 14, 2013, 07:47:00 AM
One of LR's the Grove has hit the market.  Asking $2.6M with over $1M (!!) in upgrades.  $500psf.  Weren't these selling for like low $300s psf just a year ago?  Looks like a good lot though. 

http://www.redfin.com/CA/Irvine/50-Clifford-92618/home/52204021

A recent comp (75 Clifford) sold for $2m two months ago.  No landscaping, but the interior looked fairly upgraded.  Slightly smaller, sold at $413 psf.

http://www.redfin.com/CA/Irvine/75-Clifford-92618/home/45498169

This went pending after 44 days.  Will be curious to see what it closes at.

$2,325,000.
$274,888 (11%) below asking.

The furniture was removed from escrow (and was part of the original sale price). That was a separate $200,000 deal. So, it was actually only $74,888 below asking.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: test on December 14, 2013, 10:24:44 AM
One of LR's the Grove has hit the market.  Asking $2.6M with over $1M (!!) in upgrades.  $500psf.  Weren't these selling for like low $300s psf just a year ago?  Looks like a good lot though. 

http://www.redfin.com/CA/Irvine/50-Clifford-92618/home/52204021

A recent comp (75 Clifford) sold for $2m two months ago.  No landscaping, but the interior looked fairly upgraded.  Slightly smaller, sold at $413 psf.

http://www.redfin.com/CA/Irvine/75-Clifford-92618/home/45498169

This went pending after 44 days.  Will be curious to see what it closes at.

$2,325,000.
$274,888 (11%) below asking.

The furniture was removed from escrow (and was part of the original sale price). That was a separate $200,000 deal. So, it was actually only $74,888 below asking.

Even if it was $2,599,889 below asking quattroporte can't afford it.  But he still loves to obsess over other peoples homes.

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: test on December 14, 2013, 03:28:51 PM
WTF dude thinks Quail Hill is Shady Canyon

http://www.redfin.com/CA/Irvine/24-Dreamlight-92603/home/5929494



SOLD for $2 mil  $661 / Sq. Ft.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: qwerty on December 14, 2013, 05:09:03 PM
WTF dude thinks Quail Hill is Shady Canyon

http://www.redfin.com/CA/Irvine/24-Dreamlight-92603/home/5929494



SOLD for $2 mil  $661 / Sq. Ft.


I called $700/sq ft on this house when no one thought it would get close to that. Like I said, if Laguna altura was selling at 500/sq ft this was going to sell for much more. This is a better house (single story) with a better view than anything Laguna altura has to offer
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on December 14, 2013, 05:28:02 PM
WTF dude thinks Quail Hill is Shady Canyon

http://www.redfin.com/CA/Irvine/24-Dreamlight-92603/home/5929494



SOLD for $2 mil  $661 / Sq. Ft.


Buyer used a Redfin agent.  Glad to see some higher net worth individuals use Redfin and save on commission.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: NYT on December 15, 2013, 07:24:06 PM
WTF dude thinks Quail Hill is Shady Canyon

http://www.redfin.com/CA/Irvine/24-Dreamlight-92603/home/5929494



SOLD for $2 mil  $661 / Sq. Ft.

Wow, that's one beautiful home. I found the floor plan elsewhere and even that seems quite nice.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on December 15, 2013, 07:28:23 PM
Considering how much Laguna Altura homes are selling for, $2m seems right for a single loaded, cul-de-sac, 1-story, 10,000sft+ lot.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeshopper on December 15, 2013, 10:39:56 PM
These prices are not sustainable for the long term. How many really make $800,000 a year? China FCBs will eventually dry up and those who could spend $2m+ would want a sliver of ocean view and not taillights.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on December 16, 2013, 06:51:49 AM
These prices are not sustainable for the long term. How many really make $800,000 a year? China FCBs will eventually dry up and those who could spend $2m+ would want a sliver of ocean view and not taillights.
That's what everyone keeps saying, but Irvine just turns around, lays a rainbow turd and keeps going up.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: mcstreet on December 16, 2013, 03:29:37 PM
Very thankful for these Clifford sales driving up $/sqft in the area. Purchasing at LR was a good investment after all. I almost went with Laguna Altura and their cali glove compartment backyards. 8)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: AA on December 16, 2013, 04:35:45 PM
I would LOVE it if someone buys my home in WB for $500/sf.   This is is a bargain compared to QH or LR.  Is WB homes selling for $500/sf yet? 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: mcstreet on December 16, 2013, 05:39:49 PM
That 50 Clifford Home had some hardcore upgrades to it. The only other homes comparable to 50 Clifford in LR are probably the million dollar view homes on the Hill tracts. The ones further away from the water/cell tower that is.

FCB's will be all over those view homes once they hit the market.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on January 10, 2014, 07:47:22 AM
[/
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Chairman on January 10, 2014, 09:35:45 AM
That 50 Clifford Home had some hardcore upgrades to it. The only other homes comparable to 50 Clifford in LR are probably the million dollar view homes on the Hill tracts. The ones further away from the water/cell tower that is.

FCB's will be all over those view homes once they hit the market.

How much are the homes that sit right in front of that water tower?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on January 10, 2014, 10:23:02 AM
 8)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on January 10, 2014, 10:23:18 AM
How much are the homes that sit right in front of that water tower?
There is a premium for waterfront property. :)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on January 10, 2014, 10:24:37 AM
:P
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on January 10, 2014, 12:04:33 PM
Very thankful for these Clifford sales driving up $/sqft in the area. Purchasing at LR was a good investment after all. I almost went with Laguna Altura and their cali glove compartment backyards. 8)

These owners are probably thankful for 50 Clifford as well.  Serra home in PS asking $522 PSF on a 10,000 SF lot.  $2,195,000

http://www.redfin.com/CA/Irvine/29-Small-Grv-92618/home/7219530
Wow, that backyard is gorgeous and it has a nice view too.  Bones, do you have any cute single high-earner friends looking to settle down?  haha
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on January 10, 2014, 12:07:31 PM
SFR, 3br, 2000sf... elsewhere WTF sellers (http://www.redfin.com/CA/Irvine/37-Waterspout-92620/home/5959348) asking $900k, get yours brand new for under $800k!

http://www.redfin.com/CA/Irvine/85-Cherry-S-92612/unit-48/home/52452174

Please! Take this new stucco box off my hands before I release another phase!
One is a traditional home with a driveway and the other is basically a detached condo on a motorcourt.  Besides, Woodbury is a more desirable village than Cypress Village. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on January 10, 2014, 12:31:36 PM
/
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on January 10, 2014, 12:32:16 PM
/
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on January 10, 2014, 12:33:44 PM
That 50 Clifford Home had some hardcore upgrades to it. The only other homes comparable to 50 Clifford in LR are probably the million dollar view homes on the Hill tracts. The ones further away from the water/cell tower that is.

FCB's will be all over those view homes once they hit the market.

How much are the homes that sit right in front of that water tower?

The water pressure for those homes must be insane!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on January 10, 2014, 12:34:19 PM
 :-*
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on January 10, 2014, 12:37:01 PM
//
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on January 10, 2014, 12:40:18 PM
:P
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on January 10, 2014, 12:42:20 PM
/
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on January 10, 2014, 12:48:28 PM
Very thankful for these Clifford sales driving up $/sqft in the area. Purchasing at LR was a good investment after all. I almost went with Laguna Altura and their cali glove compartment backyards. 8)

These owners are probably thankful for 50 Clifford as well.  Serra home in PS asking $522 PSF on a 10,000 SF lot.  $2,195,000

http://www.redfin.com/CA/Irvine/29-Small-Grv-92618/home/7219530
Wow, that backyard is gorgeous and it has a nice view too.  Bones, do you have any cute single high-earner friends looking to settle down?  haha

Maybe but you prob need to get rid of that new car of yours.  Too noisy ;)  Probably a deal breaker huh?
Awww, but that's my dream car.  haha  It can be my track toy and then I can get more normal everyday car.  =)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on January 10, 2014, 12:50:49 PM
/
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on January 10, 2014, 12:52:42 PM
Very thankful for these Clifford sales driving up $/sqft in the area. Purchasing at LR was a good investment after all. I almost went with Laguna Altura and their cali glove compartment backyards. 8)

These owners are probably thankful for 50 Clifford as well.  Serra home in PS asking $522 PSF on a 10,000 SF lot.  $2,195,000

http://www.redfin.com/CA/Irvine/29-Small-Grv-92618/home/7219530
Wow, that backyard is gorgeous and it has a nice view too.  Bones, do you have any cute single high-earner friends looking to settle down?  haha

Maybe but you prob need to get rid of that new car of yours.  Too noisy ;)  Probably a deal breaker huh?
Awww, but that's my dream car.  haha  It can be my track toy and then I can get more normal everyday car.  =)

GASP!  Choosing a girl over your car?  You've been hanging with Qwerter too much ;)
For the right woman, I'll be flexible.  ;)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: i1 on January 10, 2014, 01:21:33 PM
A
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on January 10, 2014, 01:24:31 PM
3) feng shui concerns (if facing directly opposite entry?)
The 4 Factor!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on January 10, 2014, 01:42:37 PM
 :)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on January 10, 2014, 03:44:48 PM
Agree - these Portisol floor plans suck (IMHO).  There's a bunch of the same floor plan homes sitting on the market - not moving.  But it is in the "nicer" part of Woodbury (away from all the condos/motorcourt product).

My buddy lives on this street.  It's definitely a very quiet street, away from most of the condo/townhome action that the middle of Woodbury sees.  Also, there is plenty of parking and a small community pool nearby so you don't have to use the main one.  The backyard is *huge* for newer Irvine standards.  You really can't compare these properties with the detached condos in CV.

I personally like the layouts of these CalPac properties.  Simple and efficient.  There is really no wasted space.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on January 10, 2014, 04:40:24 PM
8)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on January 10, 2014, 05:09:53 PM
 ;)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on January 10, 2014, 05:38:39 PM
[.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on January 10, 2014, 07:45:56 PM
 8)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jmoney74 on January 10, 2014, 08:13:43 PM
A correction on resale pricing is needed... But these guys have skin in the game already and Asians arent known to just roll over and take a loss so quickly... They usually don't consider opportunity cost by not investing elsewhere.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: i1 on January 10, 2014, 09:00:30 PM
A
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on January 10, 2014, 10:34:07 PM

Then let's compare with the three STMs in WB asking 900k each.

http://www.redfin.com/CA/Irvine/113-Lamplighter-92620/home/7201465
http://www.redfin.com/CA/Irvine/172-Wild-Lilac-92620/home/7210960
http://www.redfin.com/CA/Irvine/91-Lamplighter-92620/home/12257234

Begs the question... if Water Spout is sitting for 120+ days at 900k, what are these STM's worth, with their yardless/drivewayless/extra HOAness? 825k? Less?

This Plan 1 Portisol went pending @ $865k after ~100 days on the market and one price decrease.  Not sure what it will close at.  It's the Plan 1 so a true 3 bedroom without the ability to become a 4 bedroom.

Edit: forgot link

http://www.redfin.com/CA/Irvine/72-Loganberry-92620/home/5958941

Nice backyard. Prolly closes around 850k, but who knows... he bought at 788k; I haven't checked loan status yet.

I think the market is due for a 10% correction -- essentially give back half of 2013's gains -- within the next 6 months. Renting is cheaper and becoming more so with rates escalating.

So we're gearing up in the next ~3 weeks to get aggressive on offers, possibly in that 10% off WTF asking range. Hurts me to do it but wifey has been very patient.

So before we do new, we're going to come up with a strategy for target resale properties - then get aggressive. If it doesn't work, we'll pick up a new place.

It seems sellers like these that are so close to dipping in their pockets after upgrading and paying commissions are the ones that are eager to jump ship.

Second might be investors who have aging listings, who might be happy with a modest return in exchange for putting their capital to work elsewhere.

Last is absentee FCB sellers, who strike me as being extremely patient and would rather wait for the next hot sell cycle than sell 5-10% below asking price.

"Regular" equity sellers are the crap shoot as it becomes emotional and there are unknown circumstances...?


You may think that the market is due for a 10% correction, but the question is why and what will cause such a decline?   Higher rates?  More inventory?  Downturn in the economy?  More than one of those?  I think that prices will be flatish this year as the market digests the big run up in prices from 2013.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on January 10, 2014, 10:55:40 PM
 8)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on January 10, 2014, 11:13:28 PM
There is very little keeping pricing at today's peak levels other than weak precedent.

The fundamentals (affordability, rental parity) don't support it and are, in fact, breaking down very quickly with credit standards and rates.

Investor opportunities have largely dried up. They're on to other asset classes.

Add to that a tidal wave of builder supply that is only growing -- hell, new construction has already dented resales and there is so much more coming on line. Anecdotally, I'm seeing a large number of cancellations with new home sales. Resale listings that actually open escrow flip back to pending -- I'm guessing about 40-50% for the zips I'm tracking.

So 10% in 2014... yeah, I think that's modest.
Were prices back in early 2012 affordable and at rental parity?   They weren't  affordable is a relative thing.  If you think prices in Irvine are high, go up to the Bay Area....then you'll think the homes down here are a bargain.  Fundamentals are not breaking down quickly, the market has been flat for the past 3-4 months.  Credit standards have been tough for a while and the changes that are coming will only effect the marginal Irvine buyers.  The market isn't on fire like it was last year, it's a neutral to slight seller's market. 

As for new homes, the majority of the developments have sold out their current phase releases (I was at Pavilion Park the past few weekends).  Builders will be careful on how they release future phases.  I'll bet you that prices don't decline 10% in 2014.  If I win, you will make a monetary contribution to the charity of my choice and if you win I'll make a monetary contribution to the charity of your choice. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: eyephone on January 10, 2014, 11:23:00 PM
There is very little keeping pricing at today's peak levels other than weak precedent.

The fundamentals (affordability, rental parity) don't support it and are, in fact, breaking down very quickly with credit standards and rates.

Investor opportunities have largely dried up. They're on to other asset classes.

Add to that a tidal wave of builder supply that is only growing -- hell, new construction has already dented resales and there is so much more coming on line. Anecdotally, I'm seeing a large number of cancellations with new home sales. Resale listings that actually open escrow flip back to pending -- I'm guessing about 40-50% for the zips I'm tracking.

So 10% in 2014... yeah, I think that's modest.
Were prices back in early 2012 affordable and at rental parity?   They weren't  affordable is a relative thing.  If you think prices in Irvine are high, go up to the Bay Area....then you'll think the homes down here are a bargain.  Fundamentals are not breaking down quickly, the market has been flat for the past 3-4 months.  Credit standards have been tough for a while and the changes that are coming will only effect the marginal Irvine buyers.  The market isn't on fire like it was last year, it's a neutral to slight seller's market. 

As for new homes, the majority of the developments have sold out their current phase releases (I was at Pavilion Park the past few weekends).  Builders will be careful on how they release future phases.  I'll bet you that prices don't decline 10% in 2014.  If I win, you will make a monetary contribution to the charity of my choice and if you win I'll make a monetary contribution to the charity of your choice.

Blame it on the Fed/uncle Ben. (Ben Bernanke) ;)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on January 10, 2014, 11:59:51 PM
Asking 10% off of WTF listing prices doesn't really equal 10% correction.

I'm with OpenSky... offer what you think the property is worth based on comps, even if it's more than 10% off. Especially now while sales may be slow (although inventory is still low).
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on January 11, 2014, 07:38:58 AM
 :P
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: lnc on January 11, 2014, 07:51:06 AM
There is very little keeping pricing at today's peak levels other than weak precedent.

The fundamentals (affordability, rental parity) don't support it and are, in fact, breaking down very quickly with credit standards and rates.

Investor opportunities have largely dried up. They're on to other asset classes.

Add to that a tidal wave of builder supply that is only growing -- hell, new construction has already dented resales and there is so much more coming on line. Anecdotally, I'm seeing a large number of cancellations with new home sales. Resale listings that actually open escrow flip back to pending -- I'm guessing about 40-50% for the zips I'm tracking.

So 10% in 2014... yeah, I think that's modest.
Were prices back in early 2012 affordable and at rental parity?   They weren't  affordable is a relative thing.  If you think prices in Irvine are high, go up to the Bay Area....then you'll think the homes down here are a bargain.  Fundamentals are not breaking down quickly, the market has been flat for the past 3-4 months.  Credit standards have been tough for a while and the changes that are coming will only effect the marginal Irvine buyers.  The market isn't on fire like it was last year, it's a neutral to slight seller's market. 

As for new homes, the majority of the developments have sold out their current phase releases (I was at Pavilion Park the past few weekends).  Builders will be careful on how they release future phases.  I'll bet you that prices don't decline 10% in 2014.  If I win, you will make a monetary contribution to the charity of my choice and if you win I'll make a monetary contribution to the charity of your choice.

I like this challenge.

Given you're saying "flat" and I'm saying "-10%", I propose a graduated system, such that a -5% correction would mean we both contribute 50% to respective charities.

I'd put up $500, glad to put it in escrow (designate a trusted member as our "escrow"?)

Now we come up with a measurement. Median sales price for all Irvine as of December? Or November (so we can write off for 2014)?

I would not bet against USCTrojenCPA if I were you.  Not only  I agree with him on this issue, he's darn good gambler.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on January 11, 2014, 08:01:32 AM
 :P
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on January 11, 2014, 08:07:24 AM
[q.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on January 11, 2014, 09:35:22 AM
I'm in for the bet.  Since I'm a regular on here and I've never gone back on any promise to my clients, there's no risk of me flaking on the bet.  Let's mutually agreed upon a measure that we can use to calculate the prices from today versus prices next year.  The good thing is that this is a win-win bet for a charity. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on January 11, 2014, 09:41:12 AM
There is very little keeping pricing at today's peak levels other than weak precedent.

The fundamentals (affordability, rental parity) don't support it and are, in fact, breaking down very quickly with credit standards and rates.

Investor opportunities have largely dried up. They're on to other asset classes.

Add to that a tidal wave of builder supply that is only growing -- hell, new construction has already dented resales and there is so much more coming on line. Anecdotally, I'm seeing a large number of cancellations with new home sales. Resale listings that actually open escrow flip back to pending -- I'm guessing about 40-50% for the zips I'm tracking.

So 10% in 2014... yeah, I think that's modest.
Were prices back in early 2012 affordable and at rental parity?   They weren't  affordable is a relative thing.  If you think prices in Irvine are high, go up to the Bay Area....then you'll think the homes down here are a bargain.  Fundamentals are not breaking down quickly, the market has been flat for the past 3-4 months.  Credit standards have been tough for a while and the changes that are coming will only effect the marginal Irvine buyers.  The market isn't on fire like it was last year, it's a neutral to slight seller's market. 

As for new homes, the majority of the developments have sold out their current phase releases (I was at Pavilion Park the past few weekends).  Builders will be careful on how they release future phases.  I'll bet you that prices don't decline 10% in 2014.  If I win, you will make a monetary contribution to the charity of my choice and if you win I'll make a monetary contribution to the charity of your choice.

I like this challenge.

Given you're saying "flat" and I'm saying "-10%", I propose a graduated system, such that a -5% correction would mean we both contribute 50% to respective charities.

I'd put up $500, glad to put it in escrow (designate a trusted member as our "escrow"?)

Now we come up with a measurement. Median sales price for all Irvine as of December? Or November (so we can write off for 2014)?

I would not bet against USCTrojenCPA if I were you.  Not only  I agree with him on this issue, he's darn good gambler.
Haha  I did get lucky by buying my house near the recent bottom.  I like to put good karma out out there so I guess that good karma has come back around at times.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: NYT on January 11, 2014, 10:21:58 AM
That 50 Clifford Home had some hardcore upgrades to it. The only other homes comparable to 50 Clifford in LR are probably the million dollar view homes on the Hill tracts. The ones further away from the water/cell tower that is.

FCB's will be all over those view homes once they hit the market.

How much are the homes that sit right in front of that water tower?

When the homes originally sold from the builder, they were in the $1.5-1.6 million range for the base home, without upgrades. None have gone on the market since they were originally sold.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on January 11, 2014, 10:26:36 AM
There is very little keeping pricing at today's peak levels other than weak precedent.

The fundamentals (affordability, rental parity) don't support it and are, in fact, breaking down very quickly with credit standards and rates.

Investor opportunities have largely dried up. They're on to other asset classes.

Add to that a tidal wave of builder supply that is only growing -- hell, new construction has already dented resales and there is so much more coming on line. Anecdotally, I'm seeing a large number of cancellations with new home sales. Resale listings that actually open escrow flip back to pending -- I'm guessing about 40-50% for the zips I'm tracking.

So 10% in 2014... yeah, I think that's modest.
Were prices back in early 2012 affordable and at rental parity?   They weren't  affordable is a relative thing.  If you think prices in Irvine are high, go up to the Bay Area....then you'll think the homes down here are a bargain.  Fundamentals are not breaking down quickly, the market has been flat for the past 3-4 months.  Credit standards have been tough for a while and the changes that are coming will only effect the marginal Irvine buyers.  The market isn't on fire like it was last year, it's a neutral to slight seller's market. 

As for new homes, the majority of the developments have sold out their current phase releases (I was at Pavilion Park the past few weekends).  Builders will be careful on how they release future phases.  I'll bet you that prices don't decline 10% in 2014.  If I win, you will make a monetary contribution to the charity of my choice and if you win I'll make a monetary contribution to the charity of your choice.

I like this challenge.

Given you're saying "flat" and I'm saying "-10%", I propose a graduated system, such that a -5% correction would mean we both contribute 50% to respective charities.

I'd put up $500, glad to put it in escrow (designate a trusted member as our "escrow"?)

Now we come up with a measurement. Median sales price for all Irvine as of December? Or November (so we can write off for 2014)?

I would not bet against USCTrojenCPA if I were you.  Not only  I agree with him on this issue, he's darn good gambler.
Haha  I did get lucky by buying my house near the recent bottom.  I like to put good karma out out there so I guess that good karma has come back around at times.

OK:

I propose median price per square foot for all closed residential property sales in Irvine (new + resale, SFR + condo).  I also propose we start another thread and invite other folks on the forum to "gamble" alongside us. We compare December 2013 to December 2014 one year from now.

Since TI is about housing (and we're all about First World Problems), my charity of choice will be the Orange County Rescue Mission. Perhaps we can consider consolidating charities for effectiveness?

Once we have terms set, let's start another thread so it's not buried deep in this one.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: qwerty on January 11, 2014, 11:05:12 AM
Once we have terms set, let's start another thread so it's not buried deep in this one.

you can use this thread

http://www.talkirvine.com/index.php/topic,2445.msg42821.html#msg42821
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: iacrenter on January 11, 2014, 11:25:59 AM
These owners are probably thankful for 50 Clifford as well.  Serra home in PS asking $522 PSF on a 10,000 SF lot.  $2,195,000

http://www.redfin.com/CA/Irvine/29-Small-Grv-92618/home/7219530

Very nice home and one of the few homes in PS with a view, single loaded street, and huge lot. The biggest downside is it's close proximity to the toll road but that could be overlooked given the view lot.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on January 11, 2014, 12:05:00 PM
There is very little keeping pricing at today's peak levels other than weak precedent.

The fundamentals (affordability, rental parity) don't support it and are, in fact, breaking down very quickly with credit standards and rates.

Investor opportunities have largely dried up. They're on to other asset classes.

Add to that a tidal wave of builder supply that is only growing -- hell, new construction has already dented resales and there is so much more coming on line. Anecdotally, I'm seeing a large number of cancellations with new home sales. Resale listings that actually open escrow flip back to pending -- I'm guessing about 40-50% for the zips I'm tracking.

So 10% in 2014... yeah, I think that's modest.
Were prices back in early 2012 affordable and at rental parity?   They weren't  affordable is a relative thing.  If you think prices in Irvine are high, go up to the Bay Area....then you'll think the homes down here are a bargain.  Fundamentals are not breaking down quickly, the market has been flat for the past 3-4 months.  Credit standards have been tough for a while and the changes that are coming will only effect the marginal Irvine buyers.  The market isn't on fire like it was last year, it's a neutral to slight seller's market. 

As for new homes, the majority of the developments have sold out their current phase releases (I was at Pavilion Park the past few weekends).  Builders will be careful on how they release future phases.  I'll bet you that prices don't decline 10% in 2014.  If I win, you will make a monetary contribution to the charity of my choice and if you win I'll make a monetary contribution to the charity of your choice.

I like this challenge.

Given you're saying "flat" and I'm saying "-10%", I propose a graduated system, such that a -5% correction would mean we both contribute 50% to respective charities.

I'd put up $500, glad to put it in escrow (designate a trusted member as our "escrow"?)

Now we come up with a measurement. Median sales price for all Irvine as of December? Or November (so we can write off for 2014)?

I would not bet against USCTrojenCPA if I were you.  Not only  I agree with him on this issue, he's darn good gambler.
Haha  I did get lucky by buying my house near the recent bottom.  I like to put good karma out out there so I guess that good karma has come back around at times.

OK:

I propose median price per square foot for all closed residential property sales in Irvine (new + resale, SFR + condo).  I also propose we start another thread and invite other folks on the forum to "gamble" alongside us. We compare December 2013 to December 2014 one year from now.

Since TI is about housing (and we're all about First World Problems), my charity of choice will be the Orange County Rescue Mission. Perhaps we can consider consolidating charities for effectiveness?

Once we have terms set, let's start another thread so it's not buried deep in this one.
My charity is St. Jude Children's Research Hospital.  I'll try to come up with a methodology for the pricing comparison. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeshopper on January 11, 2014, 12:13:47 PM
The time now is different from several years ago when FCBs were only looking at the only active community in th entire USA when other builders were still in hibernation.  Masterplanned communities are rapidly coming in to the market that will continue to dilute the foreign investors in one concentrated region. Builders and developers are aware of the Chinese favorite locations pride with good schools and foods. La Habra, Rowland Heights, Chino Hills, Diamond Bar will soon be releasing large neighborhoods. Rancho Cucamonga another Chinese middle class destination will be releasing 1,000 homes. Alhambra may eliminate an underperforming golf course for 2,000 new homes. In the north 6,000 homes will be built near Fremont and Milpitus. Toll Brothers' acquisition of Shapell is another strategic move to target the Chinese market here in southern and Northern California with over ten thousand homes yet to be delivered to the Chinese market.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: qwerty on January 11, 2014, 01:46:49 PM
Shit man with all the Chinese on their way I need to scoop up properties in Santa Ana, the white folks are going to move there to get away from the chinese
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeshopper on January 11, 2014, 04:18:42 PM
The whites someday could be the gardeners for the Chinese so no need to scoop up properties in Santa Ana when you can shag the FCBs daughters then to receive free money to buy more properties. You know that your giant tool gets the job done.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on January 11, 2014, 06:12:18 PM
@qwerty:

White flight is south, not west.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: eyephone on January 11, 2014, 07:10:54 PM
The whites someday could be the gardeners for the Chinese so no need to scoop up properties in Santa Ana when you can shag the FCBs daughters then to receive free money to buy more properties. You know that your giant tool gets the job done.
I hope you pick the right one - if not you will be paying child support.  ;)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: qwerty on January 11, 2014, 07:43:11 PM
@qwerty:

White flight is south, not west.

give it time, the chinese will also take over south OC once irvine is saturated.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on January 11, 2014, 09:03:31 PM
@qwerty:

White flight is south, not west.

give it time, the chinese will also take over south OC once irvine is saturated.
They have to build some 99 Ranch Markets down there first.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: zubs on January 11, 2014, 09:40:45 PM
Corona just got a 99 ranch.  It opened like 2 weeks ago.
http://www.99ranch.com/store-locator/southern-california/corona.aspx

I wonder if Mr. 99 Ranch still lives in Peralta Hills.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jmoney74 on January 11, 2014, 09:46:53 PM
A little diversity would help these new Irvine communities a lot more.  I wish these places would actually make sure the owners are living in the homes instead of turning them into rentals.  I'm eyeing Roundtree and already saw one up for rental.

http://homes.yahoo.com/california/irvine/133-java-44186f5a79d7bde36ab8a04d5ef2cc3d.html

I hope this joker doesn't get a renter for picking 90s style carpet coloring. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on January 11, 2014, 09:56:32 PM
 ;)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on January 11, 2014, 10:03:08 PM
[.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jmoney74 on January 11, 2014, 10:08:55 PM
I know.. I just hope he doesn't.. because I wanted to buy that specific phase.. since those were the only ones that had a normal street that you can park on.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on January 12, 2014, 07:39:45 AM
 >:(
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: eyephone on January 12, 2014, 08:57:59 AM
Corona just got a 99 ranch.  It opened like 2 weeks ago.
http://www.99ranch.com/store-locator/southern-california/corona.aspx

I wonder if Mr. 99 Ranch still lives in Peralta Hills.

Races in Corona (source city data)
39.8% Hispanics
39.6% White
11.5% Asian
http://www.city-data.com/city/Corona-California.html

The school ratings range for Corona:
9-3 elementary school
7-2 high schools
source: Great Schools
http://www.greatschools.org/california/corona/schools/





Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeshopper on January 12, 2014, 10:32:14 AM
Qwerty and all his homeboys are exempt from child supports. In fact government offers them luxury Irvine housing near the Great Park honoring their dead beat dad status.

The whites someday could be the gardeners for the Chinese so no need to scoop up properties in Santa Ana when you can shag the FCBs daughters then to receive free money to buy more properties. You know that your giant tool gets the job done.
I hope you pick the right one - if not you will be paying child support.  ;)

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: qwerty on January 12, 2014, 10:53:20 AM
Qwerty and all his homeboys are exempt from child supports. In fact government offers them luxury Irvine housing near the Great Park honoring their dead beat dad status.

The whites someday could be the gardeners for the Chinese so no need to scoop up properties in Santa Ana when you can shag the FCBs daughters then to receive free money to buy more properties. You know that your giant tool gets the job done.
I hope you pick the right one - if not you will be paying child support.  ;)


my homeboys are exempt, its hard to pay child support when you are on a cash basis business and have no reportable income. i would just quit my job in an effort to not pay child support :-)  and then go move in to a fancy new IAC apartment.

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on January 13, 2014, 05:18:45 PM
Is this Realtor a rookie? Whats with all the price reductions? Twice in a day???

http://www.redfin.com/CA/Irvine/16-Fairside-92614/unit-31/home/5646152
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on January 16, 2014, 11:35:43 AM
http://www.redfin.com/CA/Irvine/4-Wheeler-92620/home/4783150

Looks like someone got a deal here..
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: qwerty on January 16, 2014, 11:37:18 AM
http://www.redfin.com/CA/Irvine/4-Wheeler-92620/home/4783150

Looks like someone got a deal here..

thats not a deal, thats about right for a ghetto of irvine.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on January 16, 2014, 11:59:03 AM
Actually, that's a pretty good floorplan and low $/sft for this area.

It is an SFR, 3b/2.5ba, has a driveway and a 5500sft lot... would be hard to find something to comp to (esp in new build).

And this is one of the newer areas of Northwood so not as ghetto as qwerter thinks.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on January 16, 2014, 12:00:06 PM
[qu.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on January 16, 2014, 12:05:14 PM
Listed for $610k.

It's funny, almost every home on that outside corner has a pool.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: . on January 16, 2014, 02:45:50 PM
Funny.  I was look at this house last weekend. 

http://www.redfin.com/CA/Irvine/14-Wheeler-92620/home/4783145

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on January 16, 2014, 03:35:56 PM
Is this Realtor a rookie? Whats with all the price reductions? Twice in a day???

http://www.redfin.com/CA/Irvine/16-Fairside-92614/unit-31/home/5646152

http://www.redfin.com/CA/Irvine/16-Fairside-92614/unit-31/home/5646152

from $525,000 to $399,999....
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: eyephone on January 16, 2014, 03:55:30 PM
Is this Realtor a rookie? Whats with all the price reductions? Twice in a day???

http://www.redfin.com/CA/Irvine/16-Fairside-92614/unit-31/home/5646152

http://www.redfin.com/CA/Irvine/16-Fairside-92614/unit-31/home/5646152

from $525,000 to $399,999....
Hey-it comes with a nice car port.  (coughs)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on January 21, 2014, 04:46:10 PM
 :)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on January 21, 2014, 05:09:39 PM
I love the recent WTF listings that have hit the market in 92602.

No, jag-off - you're not going to get $1.1M for your house.

http://www.redfin.com/CA/Irvine/25-Longvale-92602/home/7202998

1) You're in NP Square, not NP. Especially when similar-sized homes in NP proper have been sitting for 60+ DOM for less, I highly doubt someone would be foolish enough to pay more to get less:

http://www.redfin.com/CA/Irvine/26-Oroville-92602/home/5812451

2) You're in TUSD, not IUSD. This is my favorite part of going to NP(S) open houses -- that moment when there is a break in the Mandarin when the only English word you hear is "Tustin Unified."

3) Brand new, upgraded Mendocino inventory is coming online at ~$382/square foot.
http://www.redfin.com/CA/Irvine/83-MELVILLE-92620/unit-26/home/52390060

These sellers are hoping to have an FCB pay higher than peak 2005-2006 pricing to cash them out of their former dream...

These properties do have the following going for it vs. the Mendocino you listed -

- MUCH larger lot size
- Landscaping done
- MR of 2k-3k instead of 4k-5k
- Upgrades done

I agree that they are priced a bit too high, but you really can't do an apples to apples comparison with the new construction price.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on January 21, 2014, 05:17:58 PM
[.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on January 21, 2014, 05:28:02 PM
 ;)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on January 21, 2014, 05:46:11 PM
 :P
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on January 21, 2014, 06:44:55 PM
:)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on January 21, 2014, 09:03:07 PM
These properties do have the following going for it vs. the Mendocino you listed -

- MUCH larger lot size
- Landscaping done
- MR of 2k-3k instead of 4k-5k
- Upgrades done

I agree that they are priced a bit too high, but you really can't do an apples to apples comparison with the new construction price.

On upgrades: some of the new construction listings that have hit redfin are already upgraded.

On MR: $100/month difference is ~20k of present value.

The Oroville property is priced closer to reality, and yet it is sitting 60+ DOM. I'm more picking on the Longvale property, which has street noise and a tiny yard with a so-so floor plan.

The MR difference between the Longvale and Melville is about 2k a year so $166/month or $33k of present value.  Also, landscaping which is maybe $35k?  Lot size for Longvale is 6000 sq ft.  (yes, the lot for Longvale is mostly in front yard, but backyard is decent) vs. Melville of 3500 sq ft.  I do see some value for the Longvalue property.  Maybe 50k less would have been a better price..

Also, what street noise are you referring to for Longvale?  It's right in the middle of the neighborhood and doesn't border any major street?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on January 21, 2014, 09:24:25 PM
this one might work for IHO - 3 car garage:

http://www.redfin.com/CA/Irvine/4056-Williwaw-Dr-92620/home/4776916
I'll pass.

But that's what we call "A Handball Friendly Roof":

(http://media.cdn-redfin.com/photo/45/bigphoto/151/OC13096151_1.jpg)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: AMGRez on January 21, 2014, 10:33:36 PM
My charity is St. Jude Children's Research Hospital.  I'll try to come up with a methodology for the pricing comparison.

Good man.  Please keep me in the loop...
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on January 22, 2014, 07:06:30 AM
 8)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on January 22, 2014, 10:27:21 AM
 :P
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on January 22, 2014, 11:26:08 AM
Here's how we can determine who won the bet....

Take the average price/sf of all standard sale detached SFR homes in Nov & Dec 2013 versus Nov & Dec 2014 in Northpark, West Irvine, Northwood Pointe, Woodbury, Woodbridge, and Westpark I and II (exclude the old Westpark homes off the 405).  Brand new homes will be excluded.  Then we will take the weighted average (based upon the number of closings) and determine the final price/sf for all of the villages listed above to see who won the bet. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jmoney74 on January 22, 2014, 11:27:00 AM
Resort ass eh?  That has to carry some sort of premium. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on January 22, 2014, 11:30:17 AM
Resort ass eh?  That has to carry some sort of premium. 
It better for Resort fine ass if they want me to pay a premium.  haha
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on January 22, 2014, 11:37:54 AM
 :P
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on January 22, 2014, 12:16:14 PM
Here's how we can determine who won the bet....

Take the average price/sf of all standard sale detached SFR homes in Nov & Dec 2013 versus Nov & Dec 2014 in Northpark, West Irvine, Northwood Pointe, Woodbury, Woodbridge, and Westpark I and II (exclude the old Westpark homes off the 405).  Brand new homes will be excluded.  Then we will take the weighted average (based upon the number of closings) and determine the final price/sf for all of the villages listed above to see who won the bet.

The sales mix is moving to new. Many of the new(er) products are classified as "condo," even that which is detached.

So your criteria ignores a very significant portion of sales in Irvine (both new and condo-classified), which is the reality for buyers today.

Include everything (new, resale, SFR, condo). I'll even double the bet to $1,000.
How do you propose I include new when most are not on MLS?  I'm fine with doing attached and detached condos, but they have to be tracked separately as they trade differently than detached SFRs.  If I track them all together then the mix of what type of home is selling more will effect the price/sf. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on January 22, 2014, 12:19:03 PM
 ::)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on January 22, 2014, 01:10:27 PM
:P
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on January 22, 2014, 04:40:33 PM
Here's how we can determine who won the bet....

Take the average price/sf of all standard sale detached SFR homes in Nov & Dec 2013 versus Nov & Dec 2014 in Northpark, West Irvine, Northwood Pointe, Woodbury, Woodbridge, and Westpark I and II (exclude the old Westpark homes off the 405).  Brand new homes will be excluded.  Then we will take the weighted average (based upon the number of closings) and determine the final price/sf for all of the villages listed above to see who won the bet.

The sales mix is moving to new. Many of the new(er) products are classified as "condo," even that which is detached.

So your criteria ignores a very significant portion of sales in Irvine (both new and condo-classified), which is the reality for buyers today.

Include everything (new, resale, SFR, condo). I'll even double the bet to $1,000.
How do you propose I include new when most are not on MLS?  I'm fine with doing attached and detached condos, but they have to be tracked separately as they trade differently than detached SFRs.  If I track them all together then the mix of what type of home is selling more will effect the price/sf.

DataQuick has the data cut this way (new, used, condo/SFR) by zip.

See:
http://www.dqnews.com/Charts/Monthly-Charts/OC-Register-Charts/ZIPOCR.aspx

and:
http://www.dqnews.com/Charts/Annual-Charts/LA-Times-Charts/ZIPLAT13.aspx#OR

There's a $250 charge for a custom report. I don't mind splitting or paying for it.
I'm not going to pay for a custom report when I can pull a lot of data from MLS (I already pay for that anyway).  I'll sort it like I mentioned above....for those villages by each of those 3 types of homes.  I'll have the data for Nov & Dec 2013 by the end of the month and I'll post it up.  New home data is very difficult because you don't know if the builder included options in one phase in their pricing and then didn't in another phase.  There's plenty of re-sale data that will show us how prices have moved. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on January 22, 2014, 08:07:50 PM
8)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: iHeartIrvine on January 23, 2014, 09:47:01 AM
We visited 19 Riverside last night.   As we enter there is a low wall for formal dining room.  Separate formal living room.  Kitchen/Nook/Fam combo.  Tiny office.  Full bath.  The downstairs floor plan is not really good/open with all these separations.  There is a plastic covered hole above the stove hood where they had treatment for termite.  Upstairs is pretty good with huge master, 1 bed w/ en suite bath, 2 bed with jack & jill bath.  The whole house feels a bit dated and worn down although the owners recently updated some flooring and stairs with hardwood.  The backyard though is HUGE. 

There were about 10 groups of people viewing during our 10 minutes visit there.  When we left the security was ticketing the parked cars there.  We suspected that the neighbor had called them. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on January 23, 2014, 04:11:02 PM
 :'(
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: iacrenter on January 23, 2014, 05:20:39 PM
ANOTHER McRIB LOT!

http://www.redfin.com/CA/Irvine/15-Willowridge-92602/home/5813002

I love it!

Now there are four to choose from, all under 2300sf, all over $1M!

Nevermind there are larger homes with larger lots in NP that aren't up against the toll road/Portola on sale for the same money -- that are simply sitting.

As an aside... anyone else notice the paint on the front doors / garage doors of these StanPac builds are fading like it was 1972?

OpenSky,

Looks like you are tracking NP/NPSq pretty closely. The Mendocino and Santa Venetia tracts in NP have seen a significant rise in price in the last 18 months (mirrors the rest of Irvine). These homes used to be in the 800K range not too long ago. Hopefully as these listings age, the owners will be more willing to deal. I've also seen several homes in these tracts with ongoing renovation/expansion construction. I suspect you will see more inventory in coming online as Spring approaches.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on January 23, 2014, 09:57:09 PM
I really liked the Mendocino C, they were listing for less than $800k in 2012 and one just close near $1m at the end of 2013... crazy.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on January 26, 2014, 09:38:33 AM
8)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: collected on January 26, 2014, 10:55:33 AM
DataQuick has the data cut this way (new, used, condo/SFR) by zip.

See:
http://www.dqnews.com/Charts/Monthly-Charts/OC-Register-Charts/ZIPOCR.aspx

and:
http://www.dqnews.com/Charts/Annual-Charts/LA-Times-Charts/ZIPLAT13.aspx#OR

There's a $250 charge for a custom report. I don't mind splitting or paying for it.

Zillow is showing the same thing
http://www.zillow.com/irvine-ca/home-values/ (http://www.zillow.com/irvine-ca/home-values/)

Irvine is ready to go past 2006 housing prices.  If you scroll down it also shows a low foreclosure rate and $400 average price per sqft.  Too many CASH buyers are out there buying up homes. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on January 26, 2014, 11:21:37 AM
 ;D
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on January 27, 2014, 06:47:54 AM
$1.4m and they can't stage or take better pictures?

http://www.redfin.com/CA/Irvine/18922-Racine-Dr-92603/home/4739329

Even Turtle Rock homes need to be presented properly.

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: NYT on January 27, 2014, 09:20:56 AM
$1.4m and they can't stage or take better pictures?

http://www.redfin.com/CA/Irvine/18922-Racine-Dr-92603/home/4739329

Even Turtle Rock homes need to be presented properly.

Wow. It doesn't even look like they were trying. Poorly lit, out of focus, odd angles. Horrible!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on January 27, 2014, 09:28:06 AM
Tell me about it, one picture has the shower sideways... bleh.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: iacrenter on January 27, 2014, 09:31:19 AM
$1.4m and they can't stage or take better pictures?

http://www.redfin.com/CA/Irvine/18922-Racine-Dr-92603/home/4739329

Even Turtle Rock homes need to be presented properly.

Wow. It doesn't even look like they were trying. Poorly lit, out of focus, odd angles. Horrible!

$1.4M and those are the photos. The RE agent should be embarrassed and the owners should be pissed.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: iacrenter on January 27, 2014, 03:11:04 PM
Opensky,

Looks like another Plan 3 Mendocino popped up on Redfin. Looks like a corner location, relatively large lot ~5000sqft, but only optioned with 3 bedrooms and the price is an eye popping $1.075M! Not much pictures, so it could be upgraded.

http://www.redfin.com/CA/Irvine/22-Sebastian-92602/home/5812787

So now you have three Plan 3 Mendocinos all fighting for buyers on the same tract in NP.
http://www.redfin.com/CA/Irvine/26-Oroville-92602/home/5812451
http://www.redfin.com/CA/Irvine/14-Oroville-92602/home/5812478

This could be an opportunity for some dealing.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Irvinecommuter on January 27, 2014, 03:12:15 PM
Opensky,

Looks like another Plan 3 Mendocino popped up on Redfin. Looks like a corner location, relatively large lot ~5000sqft, but only optioned with 3 bedrooms and the price is an eye popping $1.075M! Not much pictures, so it could be upgraded.

http://www.redfin.com/CA/Irvine/22-Sebastian-92602/home/5812787

So now you have three Plan 3 Mendocinos all fighting for buyers on the same tract in NP.
http://www.redfin.com/CA/Irvine/26-Oroville-92602/home/5812451
http://www.redfin.com/CA/Irvine/14-Oroville-92602/home/5812478

This could be an opportunity for some dealing.

Mendocino 1 is a good deal about a year ago...now it's crowding up against a lot of competition and the floorplans are pretty wacky.

Also...the realtor might want to properly input the zip code.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: iacrenter on January 27, 2014, 03:18:37 PM
Opensky,

Looks like another Plan 3 Mendocino popped up on Redfin. Looks like a corner location, relatively large lot ~5000sqft, but only optioned with 3 bedrooms and the price is an eye popping $1.075M! Not much pictures, so it could be upgraded.

http://www.redfin.com/CA/Irvine/22-Sebastian-92602/home/5812787

So now you have three Plan 3 Mendocinos all fighting for buyers on the same tract in NP.
http://www.redfin.com/CA/Irvine/26-Oroville-92602/home/5812451
http://www.redfin.com/CA/Irvine/14-Oroville-92602/home/5812478

This could be an opportunity for some dealing.

Mendocino 1 is a good deal about a year ago...now it's crowding up against a lot of competition and the floorplans are pretty wacky.

There are a couple Plan 1's in the tract which are adding an extra bedroom over their driveway porticos. I guess they are seeing the prices some of their larger neighbors are getting and want to cash in.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Irvinecommuter on January 27, 2014, 03:19:55 PM
Opensky,

Looks like another Plan 3 Mendocino popped up on Redfin. Looks like a corner location, relatively large lot ~5000sqft, but only optioned with 3 bedrooms and the price is an eye popping $1.075M! Not much pictures, so it could be upgraded.

http://www.redfin.com/CA/Irvine/22-Sebastian-92602/home/5812787

So now you have three Plan 3 Mendocinos all fighting for buyers on the same tract in NP.
http://www.redfin.com/CA/Irvine/26-Oroville-92602/home/5812451
http://www.redfin.com/CA/Irvine/14-Oroville-92602/home/5812478

This could be an opportunity for some dealing.

Mendocino 1 is a good deal about a year ago...now it's crowding up against a lot of competition and the floorplans are pretty wacky.

There are a couple Plan 1's in the tract which are adding an extra bedroom over their driveway porticos. I guess they are seeing the prices some of their larger neighbors are getting and want to cash in.

We came close to getting a plan 1 but it didn't work out.  You would have to add the 4th bedroom to make plan 1 work.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on January 27, 2014, 04:07:23 PM
 :)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: flipper on January 27, 2014, 06:19:12 PM
1 Carmichael is a short sale. Many appraisers will ignore this one as a comp.

I don't see any newer Northwood properties selling under $400/sf. You can't use properties from old Northwood as comps.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on January 27, 2014, 06:21:12 PM
 :)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: flipper on January 27, 2014, 06:33:50 PM
For auction.com purchase, the buyer has to pay 5% premium out of his own pocket to pay for auction.com fees and listing agent fees. So the price of the buyer paid is close to $940k if appraisers want to use this as a comp.

Cheaper price from new OH homes is wishful thinking. You have to consider higher HOA fees, mello roos, small lot size, landscape cost, etc. The houses on the Irvine side are not gated per other discussions. The builders will also increase price steadily over phases to maximize profits if the demand is high.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on January 27, 2014, 06:44:51 PM
8)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on January 27, 2014, 07:40:35 PM
http://www.redfin.com/CA/Irvine/24-Columbus-92620/home/4795175

$857,000
3,145 Sq. Ft
$272 / Sq. Ft
4,792 Sq. Ft.
Sold On: Jan 17, 2014
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Coleman on January 27, 2014, 07:42:04 PM
Wow! Almost 100k off asking.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on January 27, 2014, 07:42:57 PM
http://www.redfin.com/CA/Irvine/24-Columbus-92620/home/4795175

$857,000
3,145 Sq. Ft
$272 / Sq. Ft
4,792 Sq. Ft.
Sold On: Jan 17, 2014
This is in the wrong thread.

Or maybe the right one... $272/sft for a 3CWG in Irvine... WTF?!?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on January 27, 2014, 07:46:08 PM
I dont know what to say. All I know is that the selling agent and buying agent is the same.....
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on January 27, 2014, 07:47:46 PM
.....and buyer paid cash....
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on January 27, 2014, 08:11:55 PM
On the other hand, you have this:

http://www.redfin.com/CA/Irvine/43-La-Ronda-92606/home/4625230

$655,000
1,200 Sq. Ft.
$546 / Sq. Ft.
Sold On: Jan 17, 2014

It should be noted that the buyer's agent is a wiener...
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on January 27, 2014, 08:26:02 PM
 :)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on January 27, 2014, 09:16:58 PM
:p
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on January 27, 2014, 09:25:02 PM
Are we talking about 1 Carmichael or 24 Columbus?  Or did both go thru auction.com?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on January 27, 2014, 09:26:00 PM
.....and buyer paid cash....

Nope. It was a financed purchase. Greenlight Financial brokered the loan. Sorry to let the facts get in the way of your narrative!!  :P

No worries. Feel free to correct if inaccurate. I pulled the data straight from Redfin. Regardless, it still seems like a good deal.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on January 28, 2014, 05:30:15 AM
:P
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: i1 on January 28, 2014, 06:15:29 AM
A
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on January 28, 2014, 06:52:02 AM
.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on January 28, 2014, 07:06:51 AM
.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Irvinecommuter on January 28, 2014, 08:46:52 AM
I don't know if mine was an isolated case, but I got screwed by a short sale in the neighborhood during a refi.  The loan officer explained to me that appraisers can and will count it as a comp as they see fit (especially if there aren't many other comps in the area).  My refi couldn't close and I had to switch banks and find another appraiser that didn't feel the same way ;)

Banks are stickler with their appraisers.  They got burned by appraisers during the bubble.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on January 28, 2014, 09:55:59 AM
Are we talking about 1 Carmichael or 24 Columbus?  Or did both go thru auction.com?

I'm referring to 1 Carmichael.

This shrugging off of short sales by the bulls is fascinating. Was it not distressed sales that dragged on the housing market during the bust? It may be "one", but it is a factor. In NP, there is another on Riverside and an NOD on Villager in Square. Then there is the turd that is Three Rivers (townhome) in NP. Taken together, they drag values -- don't they?!

I was referring to 24 Columbus
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on January 28, 2014, 09:57:06 AM
:P
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on January 28, 2014, 09:57:44 AM
 8)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on January 28, 2014, 10:04:18 AM
I am a firm believer that short sales affect appraisal values.

If a bank will accept that price, it is some indicator of where the market is.

It's good when you are trying to buy a house, not so good when you are trying to refi or sell one.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Irvinecommuter on January 28, 2014, 10:07:19 AM
I don't know if mine was an isolated case, but I got screwed by a short sale in the neighborhood during a refi.  The loan officer explained to me that appraisers can and will count it as a comp as they see fit (especially if there aren't many other comps in the area).  My refi couldn't close and I had to switch banks and find another appraiser that didn't feel the same way ;)

Banks are stickler with their appraisers.  They got burned by appraisers during the bubble.

The banks are investing heavily in automated valuations, which would eliminate some of the ability of RE folks to "persuade" appraisers into finding values that do not foot with values in the area.  Considering how bad the write offs were, is anyone surprised by the general lack of trust between banks and the appraisers they employ? 

Personally - I'm all for automated valuations with an onsite appraisal upon request.

I don't which banks you're working with but the banks I deal with rely heavily on BPOs and appraisers.  Appraisers rely on computer for a large portion of the their evaluation anyways.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jmoney74 on January 28, 2014, 10:08:36 AM
When I did an appraisal a few years back.. there were one short sale and one foreclosure on the report.  This was a time, however, when WI barely had any sales so I think the appraiser had to reach for some.  He still didn't let it affect it too much. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on January 28, 2014, 02:32:40 PM
Case-Shiller Home Price Index Posts First Monthly Drop In One Year

http://www.zerohedge.com/news/2014-01-28/case-shiller-home-price-index-posts-first-monthly-drop-one-year

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: iacrenter on February 01, 2014, 12:01:56 AM
Opensky,

Looks like another Plan 3 Mendocino popped up on Redfin. Looks like a corner location, relatively large lot ~5000sqft, but only optioned with 3 bedrooms and the price is an eye popping $1.075M! Not much pictures, so it could be upgraded.

http://www.redfin.com/CA/Irvine/22-Sebastian-92602/home/5812787

So now you have three Plan 3 Mendocinos all fighting for buyers on the same tract in NP.
http://www.redfin.com/CA/Irvine/26-Oroville-92602/home/5812451
http://www.redfin.com/CA/Irvine/14-Oroville-92602/home/5812478

This could be an opportunity for some dealing.


More cracks in the NP armor.

New listing @ 3 Sebastian asking $989K
http://www.redfin.com/CA/Irvine/3-Sebastian-92602/home/5812921

and 23 Willow Ridge dropped their price down to $950k.
http://www.redfin.com/CA/Irvine/23-Willowridge-92602/home/5813137

You can always hope this motivates the $1M+ homes at 15 Larchwood, 10 Hallwood, and 15 Willow Ridge to make a market adjustment to their prices.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Mandy on February 01, 2014, 03:39:35 AM
Opensky,

Looks like another Plan 3 Mendocino popped up on Redfin. Looks like a corner location, relatively large lot ~5000sqft, but only optioned with 3 bedrooms and the price is an eye popping $1.075M! Not much pictures, so it could be upgraded.

http://www.redfin.com/CA/Irvine/22-Sebastian-92602/home/5812787

So now you have three Plan 3 Mendocinos all fighting for buyers on the same tract in NP.
http://www.redfin.com/CA/Irvine/26-Oroville-92602/home/5812451
http://www.redfin.com/CA/Irvine/14-Oroville-92602/home/5812478

This could be an opportunity for some dealing.

Mendocino 1 is a good deal about a year ago...now it's crowding up against a lot of competition and the floorplans are pretty wacky.

Also...the realtor might want to properly input the zip code.

These are Mendocino tracts in North Park built in 2001, not the Mendocino in SG. And Plan 1 in SG is nice if you don't need a downstairs BR. Adding a BR costs only 3K.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on February 01, 2014, 04:02:41 AM
 :)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: furioussugar on February 01, 2014, 07:23:58 AM
OMG-  that pic is too funny!  Thanks so much for a good laugh to start the day  :D
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on February 01, 2014, 08:24:45 AM
Read in the OC Reg that 5500+ $1m+ homes sold in 2013, the highest since 2006.

Feels bubblelicious.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: IrvineRealtor on February 01, 2014, 09:43:36 AM
Any appraiser who did that is a complete moron.

I actually went back to the appraiser and provided better comps when I was refinancing my rental home last year.  Naturally, the prideful @$$hole refused, so I escalated on him to Wells.  He was a jerk about it... so I instructed my loan officer to find a new appraiser.

After getting a response from my mortgage officer that I had to use the appraiser that was assigned, I blasted them on their twitter page.  Why do I need to deal with a terrible appraiser, especially when I am paying for their service?  If I'm paying, I better have some input... or i'll walk.  If the bank wants to pay - let them deal with it.

If I had not gotten busy with my work, I would have continued escalating until he was dropped from their vendor list.


I guess I coulda raised he11 but the loan officer was not on my side.  No sense in continuing that working relationship when it was so easy to find another bank/loan officer that was easier to deal with in this regard.

My .02c:

Short sales and REOs can be incorporated into appraisals, especially when there is a dearth of other comparable sales in a given location and time frame. The appraiser can choose to weigh it less than standard arms-length sales or however they deem appropriate.

The appraisers and lenders were separated with Dodd-Frank and HVCC.
Attempts to "escalate" the issue after an appraisal report is already completed are difficult to accomplish.

I might suggest alternatively that you'd have more success via a pre-emptive strike:
Demand an appraisal with a physical inspection. Meet the appraiser. Politely ask questions about the comps that they intend to use. Ask about their familiarity with the area/neighborhood. With an appraiser coming in from Yucaipa, she might not be familiar with the nuances between Woodbridge values inside-vs-outside the loop, for instance. You can choose to allow or deny access accordingly, because once the report is completed, the lender can not ignore it.

-IR2
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Goriot on February 01, 2014, 09:57:10 PM
Opensky,

Looks like another Plan 3 Mendocino popped up on Redfin. Looks like a corner location, relatively large lot ~5000sqft, but only optioned with 3 bedrooms and the price is an eye popping $1.075M! Not much pictures, so it could be upgraded.

http://www.redfin.com/CA/Irvine/22-Sebastian-92602/home/5812787

So now you have three Plan 3 Mendocinos all fighting for buyers on the same tract in NP.
http://www.redfin.com/CA/Irvine/26-Oroville-92602/home/5812451
http://www.redfin.com/CA/Irvine/14-Oroville-92602/home/5812478

This could be an opportunity for some dealing.


More cracks in the NP armor.

New listing @ 3 Sebastian asking $989K
http://www.redfin.com/CA/Irvine/3-Sebastian-92602/home/5812921

and 23 Willow Ridge dropped their price down to $950k.
http://www.redfin.com/CA/Irvine/23-Willowridge-92602/home/5813137

You can always hope this motivates the $1M+ homes at 15 Larchwood, 10 Hallwood, and 15 Willow Ridge to make a market adjustment to their prices.

15 Willow Ridge just went Pending.  2,300 sqft pending at $1.078mm.  Probably it will sell for $1.05mm I guess no crack in the armor yet.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on February 01, 2014, 10:07:54 PM
 8)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on February 02, 2014, 12:41:53 AM
Opensky,

Looks like another Plan 3 Mendocino popped up on Redfin. Looks like a corner location, relatively large lot ~5000sqft, but only optioned with 3 bedrooms and the price is an eye popping $1.075M! Not much pictures, so it could be upgraded.

http://www.redfin.com/CA/Irvine/22-Sebastian-92602/home/5812787

So now you have three Plan 3 Mendocinos all fighting for buyers on the same tract in NP.
http://www.redfin.com/CA/Irvine/26-Oroville-92602/home/5812451
http://www.redfin.com/CA/Irvine/14-Oroville-92602/home/5812478

This could be an opportunity for some dealing.


More cracks in the NP armor.

New listing @ 3 Sebastian asking $989K
http://www.redfin.com/CA/Irvine/3-Sebastian-92602/home/5812921

and 23 Willow Ridge dropped their price down to $950k.
http://www.redfin.com/CA/Irvine/23-Willowridge-92602/home/5813137

You can always hope this motivates the $1M+ homes at 15 Larchwood, 10 Hallwood, and 15 Willow Ridge to make a market adjustment to their prices.

15 Willow Ridge just went Pending.  2,300 sqft pending at $1.078mm.  Probably it will sell for $1.05mm I guess no crack in the armor yet.

Let's see it close and what price it fetches. I've toured that home, lotta oak. Larchwood actually shows nicer but the parking situation is fubar.

I'd be very surprised to see it close over $1M.
Since it went into escrow so fast, it'll probably sell >$1.05m.  The problem is that inventory levels still remain low so it's a test of wills between sellers with high asking prices and buyers not having a lot of options.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on February 02, 2014, 07:04:10 AM
 ::)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: qwerty on February 02, 2014, 08:25:31 AM
Remember- all u need is one buyer to like your house for whatever reason. Not everyone analyzes every house and compares every aspect to other nearby homes. And there are a lot of stupid people out there
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on February 02, 2014, 08:53:41 AM
Remember- all u need is one buyer to like your house for whatever reason.
Yep... but having more liking it helps your odds. :)
Quote
Not everyone analyzes every house and compares every aspect to other nearby homes.
Wait... who are you talking about here?  ;D
Quote
And there are a lot of stupid people out there
Okay... now I know you are talking about me.  >:(
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on February 04, 2014, 04:39:19 PM
 8)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on February 06, 2014, 03:56:50 PM
 :P
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on February 06, 2014, 04:01:31 PM
10 Hallwood now off market.

http://www.redfin.com/CA/Irvine/10-Hallwood-92602/home/5813234

Wasn't able to sell for a slight premium vs what they paid in 2007.

Thanks for playing FCB Roulette, you get to keep your stucco box a little while longer!

That doesn't help to put downward pressure on prices.  As these WTF listings come off the market, inventory levels decrease.  If you are looking for prices to soften, you want the listings to stick around so it puts more pressure on the real sellers that are actually looking to sell.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on February 06, 2014, 04:15:36 PM
 :P
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on February 06, 2014, 04:17:01 PM
10 Hallwood now off market.

http://www.redfin.com/CA/Irvine/10-Hallwood-92602/home/5813234

Wasn't able to sell for a slight premium vs what they paid in 2007.

Thanks for playing FCB Roulette, you get to keep your stucco box a little while longer!

That doesn't help to put downward pressure on prices.  As these WTF listings come off the market, inventory levels decrease.  If you are looking for prices to soften, you want the listings to stick around so it puts more pressure on the real sellers that are actually looking to sell.

I'm in escrow. I just want rational pricing.
Ahhh, so now that you are in escrow you don't mind the high pricing?  :P   Congrats, let me know if you need any service provider referrals.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on February 06, 2014, 04:40:13 PM
:P
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: furioussugar on February 06, 2014, 07:45:05 PM
Congrats Open Sky on your purchase-  though I hope you will keep on with your hilarious commentary of  the NP market :)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: abosch00 on February 06, 2014, 08:03:15 PM
Did you buy in northpark?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on February 06, 2014, 08:34:37 PM
 :o
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: abosch00 on February 07, 2014, 12:03:02 AM
Did you buy in northpark?

Yes! Can't wait to close; we should be owners (again) before the end of the month.

Ahh so you're just being sarcastic with your tag line about irvine prices, without the irvine schools :)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on February 07, 2014, 08:42:42 AM
Did you buy in northpark?

Yes! Can't wait to close; we should be owners (again) before the end of the month.

Ahh so you're just being sarcastic truthful with your tag line about irvine prices, without the irvine schools :)
There is no "I" in TUSD. :)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: test on February 07, 2014, 10:38:21 AM
WTF

http://www.redfin.com/CA/Irvine/66-Como-92618/home/45378722

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on February 07, 2014, 11:01:53 AM
 :)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jmoney74 on February 07, 2014, 11:31:26 AM
yeah.. almost 2M for a 3 bedroom.. you're a little closer to the beach!  1M premium!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: collected on February 07, 2014, 11:34:31 PM
Every time I come on here, I get more and more depressed.  Seriously, what's going to happen to Irvine prices when there's no more land to develop?

Irvine Company now promises not to develop in these areas.
http://forever.irvinecompany.com/the-land/interactive-map/ (http://forever.irvinecompany.com/the-land/interactive-map/)

Laguna Beach average sqft is $1200 and it's still up there for homes with no beach view.  So my guess is that property closer to Laguna Beach (Laguna Altera) gets a premium even though you get a view of your neighbors window eight feet away.  Why don't these people buy a mile further away and save a few hundred thousand??
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeshopper on February 08, 2014, 12:37:55 AM
Why would FCBs walk a few hundred yards to the Sears side of SCP and save $ thousands on a handbag
Every time I come on here, I get more and more depressed.  Seriously, what's going to happen to Irvine prices when there's no more land to develop?

Irvine Company now promises not to develop in these areas.
http://forever.irvinecompany.com/the-land/interactive-map/ (http://forever.irvinecompany.com/the-land/interactive-map/)

Laguna Beach average sqft is $1200 and it's still up there for homes with no beach view.  So my guess is that property closer to Laguna Beach (Laguna Altera) gets a premium even though you get a view of your neighbors window eight feet away.  Why don't these people buy a mile further away and save a few hundred thousand??
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Irvinecommuter on February 19, 2014, 06:19:09 PM
I don't remember Maricopa at all but $1.088M for a 2,200+ sq. ft house.  $477/sq. ft.

http://www.redfin.com/CA/Irvine/83-Medford-92620/home/52883031
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: iacrenter on February 19, 2014, 06:32:44 PM
I don't remember Maricopa at all but $1.088M for a 2,200+ sq. ft house.  $477/sq. ft.

http://www.redfin.com/CA/Irvine/83-Medford-92620/home/52883031

I believe during Phase One sales these were selling base ~$780k back in 2011.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on February 19, 2014, 06:54:07 PM
More Stonegate elem euphoria,  so if I buy this am I guaranteed a spot in the school?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on February 19, 2014, 10:51:19 PM
More Stonegate elem euphoria,  so if I buy this am I guaranteed a spot in the school?
Nope.... esp not the after school care.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Irvinecommuter on February 20, 2014, 08:35:11 AM
More Stonegate elem euphoria,  so if I buy this am I guaranteed a spot in the school?
Nope.... esp not the after school care.

My understanding is the Stonegate Elementary is going to start kicking out non-Stonegate residents in the next year or so.  With elementary schools opening up in PS and PP, I think it will alleviate a lot of the issues. 

As for after school care, you need to go in via K or have a sibling already going there.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on February 20, 2014, 08:46:55 AM
[quote a.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Irvinecommuter on February 20, 2014, 08:49:08 AM
More Stonegate elem euphoria,  so if I buy this am I guaranteed a spot in the school?
Nope.... esp not the after school care.

My understanding is the Stonegate Elementary is going to start kicking out non-Stonegate residents in the next year or so.  With elementary schools opening up in PS and PP, I think it will alleviate a lot of the issues. 

As for after school care, you need to go in via K or have a sibling already going there.

I heard the same from current SG moms that don't live in SG.  They said if you are in 3rd grade and up, you can stay?  But if not, you don't have a choice.  I'm sure others with kids currently there can comment further.

Yeah...this is supposed to be the transitional year.  They give you a choice of changing schools now or next year but everyone from K-4 is going next year.  I believe 5th and 6th graders are going to stay.

Also...someone explain to me why CV Elementary is opening up in 2014 while PS Elementary is opening up in 2015.

https://www.iusd.org/district_services/facilities_planning_and_construction/new_construction.html
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on February 20, 2014, 08:53:45 AM
[qu.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Irvinecommuter on February 20, 2014, 09:05:47 AM

Also...someone explain to me why CV Elementary is opening up in 2014 while PS Elementary is opening up in 2015.

https://www.iusd.org/district_services/facilities_planning_and_construction/new_construction.html

B/c PS is the ugly stepchild of all the TIC developments.  Ha!

Yup...they're not even waiting for the school to be built.  PS kids have to go to an offsite temporary campus in Sierra Vista Middle School.  Brutal.

https://www.iusd.org/district_services/facilities_planning_and_construction/documents/OpeningofNewSchoolPortolaSpringsK-6.pdf
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: valueoc on February 20, 2014, 11:58:14 AM

Also...someone explain to me why CV Elementary is opening up in 2014 while PS Elementary is opening up in 2015.

https://www.iusd.org/district_services/facilities_planning_and_construction/new_construction.html

B/c PS is the ugly stepchild of all the TIC developments.  Ha!
This is a slightly uncharacteristic sentiment coming from me (I'm new to this forum so you wouldn't know), but is this indicative of Irvine growing too quickly? A temporary school on a middle school site? Really? How enticing is this for new buyers? Wow.

Yup...they're not even waiting for the school to be built.  PS kids have to go to an offsite temporary campus in Sierra Vista Middle School.  Brutal.

https://www.iusd.org/district_services/facilities_planning_and_construction/documents/OpeningofNewSchoolPortolaSpringsK-6.pdf
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Irvinecommuter on February 20, 2014, 12:08:03 PM

Also...someone explain to me why CV Elementary is opening up in 2014 while PS Elementary is opening up in 2015.

https://www.iusd.org/district_services/facilities_planning_and_construction/new_construction.html

B/c PS is the ugly stepchild of all the TIC developments.  Ha!
This is a slightly uncharacteristic sentiment coming from me (I'm new to this forum so you wouldn't know), but is this indicative of Irvine growing too quickly? A temporary school on a middle school site? Really? How enticing is this for new buyers? Wow.

Yup...they're not even waiting for the school to be built.  PS kids have to go to an offsite temporary campus in Sierra Vista Middle School.  Brutal.

https://www.iusd.org/district_services/facilities_planning_and_construction/documents/OpeningofNewSchoolPortolaSpringsK-6.pdf

PS is not a new community though...so Irvine is not worried about that.  I think the problem is that PS never developed the way that it was supposed to.  I don't know if they even completely built out.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on February 20, 2014, 12:43:44 PM
.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: GH on February 20, 2014, 12:54:36 PM
I think once the elementary school is up and maybe a new commercial center somewhere close, PS could be back on track.  Although, it could just be more than the location (Lambert Ranch is doing fine so there must be more to it than the location).
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on February 20, 2014, 03:30:02 PM
They are fast-tracking because test keeps posting those pictures that show how overcrowded the school are going to be in Irvine.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on February 20, 2014, 03:31:48 PM
[quot.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on February 20, 2014, 03:41:05 PM
Good luck getting over $100/sf for an attached condo in Woodbury over the going rate...

http://www.redfin.com/CA/Irvine/92-Revival-92620/home/40103428

They are just wasting everyone's time with this listing. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: paperboyNC on February 20, 2014, 04:09:47 PM
Good luck getting over $100/sf for an attached condo in Woodbury over the going rate...

http://www.redfin.com/CA/Irvine/92-Revival-92620/home/40103428

They are just wasting everyone's time with this listing.

They probably didn't realize that sales like this were detached:
http://www.redfin.com/CA/Irvine/86-Great-Lawn-92620/home/7216664

1300 sq ft detached seems very unusual!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on February 20, 2014, 05:37:57 PM
Good luck getting over $100/sf for an attached condo in Woodbury over the going rate...

http://www.redfin.com/CA/Irvine/92-Revival-92620/home/40103428

They are just wasting everyone's time with this listing.

They probably didn't realize that sales like this were detached:
http://www.redfin.com/CA/Irvine/86-Great-Lawn-92620/home/7216664

1300 sq ft detached seems very unusual!

What's funny is that both these properties are from the same listing agent!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on February 20, 2014, 08:02:26 PM
<:-)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Irvinecommuter on February 21, 2014, 08:40:34 AM
They are fast-tracking because test keeps posting those pictures that show how overcrowded the school are going to be in Irvine.

Haha.  The power of TI!!!!
But in all seriousness, they're "fast tracking" it over the PA5 school -which makes no sense to begin with.  Why would you build a school there first when the housing is still being built?  PS has been around since pre-2008.

Probably because the elementary school would be a good selling point.  Having a school in the community is much more preferable than having to drive your kid to Canyon View in the opposite direction of commute. 


PS is pretty much done so no reason to please anyone there. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on February 21, 2014, 08:45:48 AM
[quote.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Irvinecommuter on February 21, 2014, 08:52:15 AM
They are fast-tracking because test keeps posting those pictures that show how overcrowded the school are going to be in Irvine.

Haha.  The power of TI!!!!
But in all seriousness, they're "fast tracking" it over the PA5 school -which makes no sense to begin with.  Why would you build a school there first when the housing is still being built?  PS has been around since pre-2008.

Probably because the elementary school would be a good selling point.  Having a school in the community is much more preferable than having to drive your kid to Canyon View in the opposite direction of commute. 


PS is pretty much done so no reason to please anyone there. 

PS is far from done. I would say maybe a little more than half?

Yeah...but I don't think there are any plans to do anything in the immediate future.  Builders are still trying to finish selling.  With PP, OH, and BR on the market, PS II would be a serious tough sell. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on February 21, 2014, 08:54:20 AM
[quo.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Irvinecommuter on February 21, 2014, 09:04:50 AM
They are fast-tracking because test keeps posting those pictures that show how overcrowded the school are going to be in Irvine.

Haha.  The power of TI!!!!
But in all seriousness, they're "fast tracking" it over the PA5 school -which makes no sense to begin with.  Why would you build a school there first when the housing is still being built?  PS has been around since pre-2008.

Probably because the elementary school would be a good selling point.  Having a school in the community is much more preferable than having to drive your kid to Canyon View in the opposite direction of commute. 


PS is pretty much done so no reason to please anyone there. 

PS is far from done. I would say maybe a little more than half?

Yeah...but I don't think there are any plans to do anything in the immediate future.  Builders are still trying to finish selling.  With PP, OH, and BR on the market, PS II would be a serious tough sell. 

Have u driven over there lately?  Enclave 6 is in full swing. They are moving dirt like crazy north of the school site as well as over on modjeska.

I will take your word for it but I still think the priority for PS2 is relatively low.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on February 21, 2014, 10:15:13 AM
[qu.ote.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Irvinecommuter on February 21, 2014, 10:18:22 AM

I will take your word for it but I still think the priority for PS2 is relatively low.

I know you don't like to leave your house and I know you probably don't want to take the 15 mins to drive over to PS from SG :), but I just drove by on my way to South County and they have the big dirt movers over there.  I took a picture but it was too large to upload and I'm too lazy to fix it. 

Also, keep in mind, PS doesn't have to be a priority for TIC.  They just sell off the land to outside builders.  TIC and IPAC have not built a single home at PS to date.  I expect that trend to continue.

I usually don't head toward South County and if I do, I don't go toward PS...generally the 5 or Irvine Blvd. 

I understand as to TIC but some of the builders (KB for example) are still trying to finish selling certain parts of PS.  From my count off the website, there are still 7 communities selling in PS.  On top of the fact that OH is probably next on every builder's list, I just don't think PS is on anyone's priority list.

Also, Cal Pac has homes up in PS.  I believe Cal Pac is a part of TIC.   
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on February 21, 2014, 10:22:58 AM
[q. on every builder'.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Irvinecommuter on February 21, 2014, 10:24:12 AM

I will take your word for it but I still think the priority for PS2 is relatively low.

I know you don't like to leave your house and I know you probably don't want to take the 15 mins to drive over to PS from SG :), but I just drove by on my way to South County and they have the big dirt movers over there.  I took a picture but it was too large to upload and I'm too lazy to fix it. 

Also, keep in mind, PS doesn't have to be a priority for TIC.  They just sell off the land to outside builders.  TIC and IPAC have not built a single home at PS to date.  I expect that trend to continue.

I usually don't head toward South County and if I do, I don't go toward PS...generally the 5 or Irvine Blvd. 

I understand as to TIC but some of the builders (KB for example) are still trying to finish selling certain parts of PS.  On top of the fact that OH is probably next on every builder's list, I just don't think PS is on anyone's priority list.

Sometimes "talking" to you is like talking to a brick wall.  I don't know what you mean by "priority" but here's FACT:  They JUST announced the first project of PS's Enclave 6 (KB Homes is building Sage II).  They are probably close to announcing other stuff b/c when you drive by that enclave, all the pads are getting ready to go.  They are moving dirt and wetting the ground up north of the elementary school.  Not sure why they would do all that if they weren't prepping to build on it.  These are the FACTS.  Your opinion is irrelevant here.

Of course my opinion is irrelevant.  We're just talking about opinions and thoughts.  I don't work for any of the builders or developers.   
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: paperboyNC on February 24, 2014, 09:21:03 AM
These guys are really wasting time:
http://www.redfin.com/CA/Irvine/71-Sacred-Path-92618/home/51685202

$472/ft with 300 sq ft being a 3rd floor bonus room with no 3rd floor bathroom. Crazy
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on February 24, 2014, 09:29:55 AM
whoa, million dollar condo in Portola!  I actually liked this StanPac floorplan, man Attic, layout is decent.  Appraisal can be an issue so looking for cash buyer?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on February 24, 2014, 11:58:14 AM
These guys are really wasting time:
http://www.redfin.com/CA/Irvine/71-Sacred-Path-92618/home/51685202

$472/ft with 300 sq ft being a 3rd floor bonus room with no 3rd floor bathroom. Crazy
An "Executive 3-story upscale single family detached home"?  haha  It has no driveway, it's not a single family detached home, and it won't sell for anywhere near the list price.  *BUZZER SOUND*  Thanks for trying.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Goriot on February 25, 2014, 10:58:10 AM
I don't remember Maricopa at all but $1.088M for a 2,200+ sq. ft house.  $477/sq. ft.

http://www.redfin.com/CA/Irvine/83-Medford-92620/home/52883031

I believe during Phase One sales these were selling base ~$780k back in 2011.

This one just went pending.  Probably sets the new high in SG per sqft at $477 for a non-model home if it really closes at asking.  But pending at less then 2 weeks, it probably is near asking.  30%-35% return in 2 years. Not bad.
http://www.redfin.com/CA/Irvine/83-Medford-92620/home/52883031

Another one in SG went pending.  Based on the photo, this one doesn't have a conservatory, but says it does. Should be 2,441 sqft and not 2,580 sqft
http://www.redfin.com/CA/Irvine/234-Shelbourne-92620/home/52855789



Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Irvine Dream on February 26, 2014, 07:11:50 PM
Looks like some of us are now sure priced out of Irvine based on these two
http://www.redfin.com/CA/Irvine/31-Shaman-92618/home/39657892
http://www.redfin.com/CA/Irvine/53-Sweet-Bay-92603/home/5900259

Starting price for Orchard Hills Grove then 1.5 million?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Irvine Dream on February 27, 2014, 03:35:19 PM
Anyone knows what is going on with this listing at 829 Polaris Drive??

Listing price seems to be increasing $100K every month?

http://www.redfin.com/CA/Tustin/829-Polaris-Dr-92782/home/5957174
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on March 03, 2014, 08:51:54 PM
[q.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: paperboyNC on March 04, 2014, 09:19:31 AM
Very thankful for these Clifford sales driving up $/sqft in the area. Purchasing at LR was a good investment after all. I almost went with Laguna Altura and their cali glove compartment backyards. 8)

These owners are probably thankful for 50 Clifford as well.  Serra home in PS asking $522 PSF on a 10,000 SF lot.  $2,195,000

http://www.redfin.com/CA/Irvine/29-Small-Grv-92618/home/7219530

This closed at $2,140,000 (slightly below asking @ $508 PSF).  Probably inspired their neighbor to list their house.  Smaller floor plan for $1,799,888 ($516 PSF).  That backyard is just BEGGING for a pool!

http://www.redfin.com/CA/Irvine/33-Small-Grv-92618/home/7217565

I thought the same thing!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on March 07, 2014, 10:40:46 AM
http://www.redfin.com/CA/Irvine/3-Rice-Aisle-92612/unit-95/home/5680906

"WOWHUGE PRICE REDUCTION ($50k) AS SELLER WANTS THIS SOLD! Make an offer as everything will be considered."

Really?? Everything will be considered?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on March 07, 2014, 10:57:34 AM
Whoah... there is a street called "Rice Aisle" in Irvine? Awesome.

ps9 would kill to live on "888 Octopus Lane". (<--- can anyone name the quadruple references there?)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on March 07, 2014, 01:35:02 PM
I think I have seen it all now..

$927/SqFt

http://www.redfin.com/CA/Irvine/16-Mandarin-92604/home/4687516

Ironic that "Mandarin" has six "8s" in price. Built in 1978.

This should sell real fast....
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jmoney74 on March 07, 2014, 01:37:13 PM
I think I have seen it all now..

$927/SqFt

http://www.redfin.com/CA/Irvine/16-Mandarin-92604/home/4687516

Ironic that the "Mandarin" street name with six "8s" in price. Built in 1978.

my goodness
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on March 07, 2014, 01:39:24 PM
I really would like to know what the agent/seller is smoking. Must be some good $h1T......
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jmoney74 on March 07, 2014, 01:41:08 PM
Trying to cash in on the Chinese Irvine buying craze at it's finest!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Westsiiide! on March 07, 2014, 01:45:40 PM
4000 sq ft?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Irvine Dream on March 07, 2014, 01:47:10 PM
The listing states 4,004 sq feet of living space, so only about $470/sqft :)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on March 07, 2014, 02:00:29 PM
So 4000sq ft on a 5000 sq ft lot?  Hope the permits are good:

(http://i1233.photobucket.com/albums/ff390/Ps99472/C16D7F35-A198-41A0-BF51-2D2F780C4B1D_zpsbeuajtlc.png)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: iacrenter on March 07, 2014, 02:04:21 PM
It is a great location in Woodbridge but I wouldn't want to buy the largest and most expensive home in the neighborhood.  And I agree the lot is way too small for that monster.

I posted about their neighbor at 18 Mandarin back in 2012. It closed @ $350/sqft but needed updating. That was a much better deal.

http://www.redfin.com/CA/Irvine/18-Mandarin-92604/home/4687518

http://www.talkirvine.com/index.php/topic,324.msg37997.html#msg37997
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on March 07, 2014, 02:47:02 PM
Oooo... nice remodel, nice location, nice pool (although Woodbridge has a ton pools).

But way too expensive.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on March 07, 2014, 07:23:51 PM
I think I have seen it all now..

$927/SqFt

http://www.redfin.com/CA/Irvine/16-Mandarin-92604/home/4687516

Ironic that "Mandarin" has six "8s" in price. Built in 1978.

This should sell real fast....
In the description it says that it is over 4,000sf instead of just 2,000sf....still, I don't think they'll get that amount.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: furioussugar on March 07, 2014, 09:32:54 PM
It was on the market briefly last year- so they are trying it again.  Woodbridge is insane right now-  houses are closing at over $500 sq ft for vintage 1970's construction.

 24 Willowbrook just closed at $980k for 1850sq ft and NO air conditioning!  Crazy!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on March 08, 2014, 02:55:30 PM
I think I have seen it all now..

$927/SqFt

http://www.redfin.com/CA/Irvine/16-Mandarin-92604/home/4687516

Ironic that "Mandarin" has six "8s" in price. Built in 1978.

This should sell real fast....
In the description it says that it is over 4,000sf instead of just 2,000sf....still, I don't think they'll get that amount.

They fixed it now. I sure wouldnt want that agent to be my accountant!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: eyephone on March 08, 2014, 03:00:08 PM
I think I have seen it all now..

$927/SqFt

http://www.redfin.com/CA/Irvine/16-Mandarin-92604/home/4687516

Ironic that "Mandarin" has six "8s" in price. Built in 1978.

This should sell real fast....
In the description it says that it is over 4,000sf instead of just 2,000sf....still, I don't think they'll get that amount.

They fixed it now. I sure wouldnt want that agent to be my accountant!

I came across another situation when they misstated the sqft and they changed it later. A Redfin agent made a comment on that it doesn't look like xxxx sqft. All of the sudden it was corrected.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on March 08, 2014, 03:25:46 PM
 >:D
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on March 09, 2014, 07:13:14 PM
$514/sf in East Tustin Northpark!

http://www.redfin.com/CA/Irvine/8-Bodega-Bay-92602/home/5771838

Nevermind the larger home down the street  (http://www.redfin.com/CA/Irvine/23-Calistoga-92602/home/5772222)with his $445/sf asking. This one takes the cake for the biggest WTF listing in 92602.

Meanwhile, at $425/sf - with a big backyard and nice location - 26 Oroville is now off market. Been listed since Thanksgiving and no escrow fo yu.

http://www.redfin.com/CA/Irvine/26-Oroville-92602/home/5812451

Thanks for playing the FCB fairy game! Maybe next time! List higher! Add 888 to your asking price!

Bodega Bay is getting serious. From $514/square foot to $500/square foot. 32 days in.  ::)

I'd be surprised if anyone took a bet on this going into escrow at $500/square foot.

http://www.redfin.com/CA/Irvine/8-Bodega-Bay-92602/home/5771838
Another example of an unmotivated seller who's looking for a sucker.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Homer_Simpson on March 13, 2014, 02:19:55 PM
i wonder if they are move up sellers or downsizing sellers.  After they sell this home, they are going to be hard pressed in finding a similar home for less unless they are going to buy new. 

Title: .
Post by: YellowFever on March 14, 2014, 10:51:49 AM
.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on March 21, 2014, 12:29:21 PM
Nice way to make $4 Million in 4 years....

http://www.redfin.com/CA/Irvine/118-Canyon-Crk-92603/home/7202786
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on March 21, 2014, 01:05:33 PM
$600,000 over peak price of 2005..

http://www.redfin.com/CA/Irvine/29-Twiggs-92620/home/5958435

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jmoney74 on March 21, 2014, 01:11:29 PM
$600,000 over peak price of 2005..

http://www.redfin.com/CA/Irvine/29-Twiggs-92620/home/5958435

Is the picture kind of odd?  Looks like their neighbors garage is to the right but inside.. I can't tell.

2M?  sheesh. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: iacrenter on March 21, 2014, 01:42:15 PM
$600,000 over peak price of 2005..

http://www.redfin.com/CA/Irvine/29-Twiggs-92620/home/5958435

For that price in Irvine, I'd rather have bought at least a view lot.

http://www.redfin.com/CA/Irvine/29-Small-Grv-92618/home/7219530
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on March 21, 2014, 07:20:46 PM
http://www.redfin.com/CA/Irvine/45-Woods-Trl-92603/home/5900491

Wow I need to hire this agent to sell my home.. $215 million!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jmoney74 on March 21, 2014, 09:11:15 PM
Lol

Mega millions home
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Homer_Simpson on March 22, 2014, 12:49:20 PM
http://www.redfin.com/CA/Irvine/45-Woods-Trl-92603/home/5900491

Wow I need to hire this agent to sell my home.. $215 million!

$61,500 sq/ft?? Chump change!



















IHO can I borrow some lunch money??
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on March 29, 2014, 07:33:59 PM
Really?

http://www.redfin.com/CA/Irvine/8154-Scholarship-92612/unit-1206/home/12252793
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: aquabliss on March 29, 2014, 10:48:33 PM
Really?

http://www.redfin.com/CA/Irvine/8154-Scholarship-92612/unit-1206/home/12252793

What's the problem, HOA is only $1,067/mo
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jmoney74 on March 30, 2014, 05:02:26 AM
You have a great view of rubies from here.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irviniteeee on March 31, 2014, 01:43:43 PM
I like this home and all but 1.8?!  ::)

http://www.redfin.com/CA/Irvine/125-Nighthawk-92604/home/4687635
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on March 31, 2014, 01:48:30 PM
I like this home and all but 1.8?!  ::)

http://www.redfin.com/CA/Irvine/125-Nighthawk-92604/home/4687635
I think they are targeting me.

Look how they staged the garage:

(http://media.cdn-redfin.com/photo/45/bigphoto/768/OC14043768_33_2.jpg)

Who does that?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: daedalus on March 31, 2014, 08:18:02 PM
That bike is screaming Pee Wee's Big, Ultramodern Adventure, and the rest of it must be the playhouse.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: eyephone on March 31, 2014, 08:25:56 PM
I don't like it. Are they hiding something behind the desk? I don't know (things that make you go hmm)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on April 22, 2014, 06:34:19 PM
Not a bad flip.

http://www.redfin.com/CA/Los-Angeles/9380-Sierra-Mar-Dr-90069/home/6835601
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on April 22, 2014, 07:46:48 PM
Not a bad flip.

http://www.redfin.com/CA/Los-Angeles/9380-Sierra-Mar-Dr-90069/home/6835601

Do the cars and the hot girl come with the house?  Man, that house is beyond baller status....oh the parties you can throw.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: paperboyNC on April 29, 2014, 11:32:47 AM
http://www.redfin.com/CA/Irvine/25-Prickly-Pear-92618/home/55244887

Theoretically the $412/sq ft isn't too WTF but in my opinion this condo is worth $775,000.

Problems with the listing:
Says single-family (it's a condo)
Lists just one HOA fee of $241/mo (there are two, $111 and $134 which adds up to $245)
Furniture is awful
Pictures are just awful (someone's head in one of them, no staging, etc)

I'd guess that the realtor is a family friend and they are trying to save on commission.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on April 29, 2014, 01:03:49 PM
Really? Trying to make money off this flip??

http://www.redfin.com/CA/Irvine/103-Nature-92620/home/12253634
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on April 29, 2014, 02:19:17 PM
 ;D
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on April 29, 2014, 07:43:09 PM
Really? Trying to make money off this flip??

http://www.redfin.com/CA/Irvine/103-Nature-92620/home/12253634

Best part of the listing:

Quote
If you use GPS, please remember it is wrong. If you get the last turn, always go opposite of GPS instruction. If GPS ask you turn right at Nature, you turn left.

It's as if the Realtor thought that was why it fetched $90k less just three weeks earlier.
Yeah, good luck getting the property to appraise when the best comp is itself less than a month before the listing.  haha
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on April 30, 2014, 05:56:36 PM
Listed for $599,000, sold for $461,000. 23% off? How?

http://www.redfin.com/CA/Irvine/119-Sapphire-92602/unit-28/home/5885049
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: eyephone on April 30, 2014, 08:08:39 PM
Listed for $599,000, sold for $461,000. 23% off? How?

http://www.redfin.com/CA/Irvine/119-Sapphire-92602/unit-28/home/5885049

The description says: Sellers said I am ready.

My translation - I need to sell the place
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on April 30, 2014, 11:53:56 PM
Listed for $599,000, sold for $461,000. 23% off? How?

http://www.redfin.com/CA/Irvine/119-Sapphire-92602/unit-28/home/5885049

The description says: Sellers said I am ready.

My translation - I need to sell the place
Watch for the buyer to try to flip this property for $100k in the next month or so. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on May 01, 2014, 10:16:40 AM
Something does not seem right. Why would the seller's realtor do this? Shouldnt the realtor have the seller's best interest?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: IrvineRealtor on May 01, 2014, 10:49:41 AM
Something does not seem right. Why would the seller's realtor do this? Shouldnt the realtor have the seller's best interest?

1. Out-of-area agent, unfamiliar with the neighborhood and tract.
2. Overpriced from the onset, with a significant location issue (close to toll road).
3. Motivated seller.
4. ??? unknowns about the particular transaction (buyer also got an additional $1000 credit in lieu of repairs, which is a relatively high amount for a home this size.)

When listing agents warn of the "costs of over-pricing" a home, many sellers naturally think this is a scare-tactic and believe that "we can always drop the price later if we need to." (I admit, I had a tinge of this feeling in selling my own home.) Unfortunately, this case is a good example of why those assumptions can be false. If there are no other offers in, with a motivated seller the lowball offer may be effective, since they have nobody else to negotiate with. 

-IR2
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on May 03, 2014, 10:51:49 AM
One of the lowest $/sq ft sold within the last 3 years in NWP:

http://www.redfin.com/CA/Irvine/14-Runningbrook-92620/home/4788655/crmls-S663970

Now back on the market for a half million equity gain (potentially tax free):

http://www.redfin.com/CA/Irvine/14-Runningbrook-92620/home/4788655

Backs the trail, easy access to burglarize the house.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Irvine Dream on May 03, 2014, 02:19:20 PM
Weird listing history

http://www.zillow.com/homedetails/829-Polaris-Dr-Tustin-CA-92782/64870691_zpid/
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on May 04, 2014, 07:36:52 PM
http://www.redfin.com/CA/Irvine/68-Clouds-Vw-92603/home/5978179


$745,000 for 2 bed, 2.5 bath and 1,150 SF. $648/SF
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: test on May 07, 2014, 10:20:25 PM
W T F

http://www.redfin.com/CA/Irvine/12-Gillman-St-92612/home/4698805
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: lovingit on May 08, 2014, 05:01:06 AM
W T F

http://www.redfin.com/CA/Irvine/12-Gillman-St-92612/home/4698805

That is crazy
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: GH on May 08, 2014, 09:28:47 AM
W T F

http://www.redfin.com/CA/Irvine/12-Gillman-St-92612/home/4698805

The square footage is wrong I think. 

First line of the description:
"Enter thru the solid mahogany double door entry and you are welcomed into a 2800 square foot 5 bedroom home all having been expanded.."
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: lovingit on May 09, 2014, 11:05:55 PM
This is insane.  Really?

http://www.redfin.com/CA/Irvine/37-Wheeler-92620/home/4783075
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on May 09, 2014, 11:28:09 PM
This is insane.  Really?

http://www.redfin.com/CA/Irvine/37-Wheeler-92620/home/4783075

Compare:

http://www.redfin.com/CA/Irvine/37-Wheeler-92620/home/4783075/crmls-S645760

Kept the slide in the yard, good idea if you got a slope
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: qwerty on May 10, 2014, 12:11:49 AM
Just wait another 20-30 years when all the new homes need to be remodeled. Northwood is going to be one of the most expensive neighborhoods in irvine.  Lots like 37 wheeler will command a premium just like irvinehomeshopper has said.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Coleman on May 10, 2014, 08:50:53 AM
Just wait another 20-30 years when all the new homes need to be remodeled. Northwood is going to be one of the most expensive neighborhoods in irvine.  Lots like 37 wheeler will command a premium just like irvinehomeshopper has said.

Is Irvine going to become like Arcadia where the people with money will come in and start to renovate the larger lots with large homes driving the price up while people with the 2,000 sq. ft houses on 3,000 sq. ft lots are going to be "stuck" with the 2,000 sq. ft house?

For years while driving through arcadia and temple city, I always thought it was funny to see a 5,500 sq. ft house next to a 1940s 1,200 sq. ft cube. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: test on May 10, 2014, 03:39:38 PM
Just wait another 20-30 years when all the new homes need to be remodeled. Northwood is going to be one of the most expensive neighborhoods in irvine.  Lots like 37 wheeler will command a premium just like irvinehomeshopper has said.

Is Irvine going to become like Arcadia where the people with money will come in and start to renovate the larger lots with large homes driving the price up while people with the 2,000 sq. ft houses on 3,000 sq. ft lots are going to be "stuck" with the 2,000 sq. ft house?

For years while driving through arcadia and temple city, I always thought it was funny to see a 5,500 sq. ft house next to a 1940s 1,200 sq. ft cube. 

According to IR the appeal of Irvine is that won't happen.

http://ochousingnews.com/blog/mansionization-ordinances-indiscriminant-nose-swinging/
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: i1 on May 10, 2014, 07:30:09 PM
Just wait another 20-30 years when all the new homes need to be remodeled. Northwood is going to be one of the most expensive neighborhoods in irvine.  Lots like 37 wheeler will command a premium just like irvinehomeshopper has said.
+1. Only reason NW is a value is Asian/FCB buyer want a new or total turnkey product. In 20-30 yrs, NW will be looking very good.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on May 12, 2014, 03:14:21 PM
Did they forget the "1" before the "3"?

http://www.redfin.com/CA/Irvine/3113-Scholarship-92612/home/21930992
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on May 12, 2014, 03:20:30 PM
This listing is provided by Mr. Hung of "Great USA Investments". Is this how the FCB roll?

http://www.redfin.com/CA/Irvine/151-Desert-Bloom-92618/home/45429824
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: qwerty on May 12, 2014, 03:30:19 PM
This listing is provided by Mr. Hung

i just want to clarify that i am not affiliated with this listing. while i have thought about getting a real estate license, i still have not.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on May 12, 2014, 03:49:39 PM
@qwerchuahua:

quattroporte didn't say "Mr. Hung A Pinata".
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: lovingit on May 20, 2014, 12:13:13 AM
I like this home and all but 1.8?!  ::)

http://www.redfin.com/CA/Irvine/125-Nighthawk-92604/home/4687635

WTF this sold?  Wow, $700k in two years.  You think OH will sell like this?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: aquabliss on May 20, 2014, 08:20:24 AM
This listing is provided by Mr. Hung

i just want to clarify that i am not affiliated with this listing. while i have thought about getting a real estate license, i still have not.

At the time of this post, you have given 888 thanks.  That combined with being mistaken for Mr. Hung makes it a very lucky day for you.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: qwerty on May 20, 2014, 09:07:16 AM
This listing is provided by Mr. Hung

i just want to clarify that i am not affiliated with this listing. while i have thought about getting a real estate license, i still have not.

At the time of this post, you have given 888 thanks.  That combined with being mistaken for Mr. Hung makes it a very lucky day for you.

Didn't even realize. Thanks for the heads up. In addition to the group lotto at the office I think I'll get my own tickets at lunch to take advantage if the luck today :-)

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on May 20, 2014, 09:15:24 AM
This listing is provided by Mr. Hung

i just want to clarify that i am not affiliated with this listing. while i have thought about getting a real estate license, i still have not.

At the time of this post, you have given 888 thanks.  That combined with being mistaken for Mr. Hung makes it a very lucky day for you.

Didn't even realize. Thanks for the heads up. In addition to the group lotto at the office I think I'll get my own tickets at lunch to take advantage if the luck today :-)



Don't give out anymore thanks, wait till you receive 888 thanks, then you'll be double lucky!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: qwerty on May 20, 2014, 10:26:52 AM
This listing is provided by Mr. Hung

i just want to clarify that i am not affiliated with this listing. while i have thought about getting a real estate license, i still have not.

At the time of this post, you have given 888 thanks.  That combined with being mistaken for Mr. Hung makes it a very lucky day for you.

Didn't even realize. Thanks for the heads up. In addition to the group lotto at the office I think I'll get my own tickets at lunch to take advantage if the luck today :-)



Don't give out anymore thanks, wait till you receive 888 thanks, then you'll be double lucky!

i already screwed up. gave IR a thanks on his "resort fee" comment
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: lnc on May 20, 2014, 11:52:28 AM
This listing is provided by Mr. Hung

i just want to clarify that i am not affiliated with this listing. while i have thought about getting a real estate license, i still have not.

At the time of this post, you have given 888 thanks.  That combined with being mistaken for Mr. Hung makes it a very lucky day for you.

Didn't even realize. Thanks for the heads up. In addition to the group lotto at the office I think I'll get my own tickets at lunch to take advantage if the luck today :-)



Don't give out anymore thanks, wait till you receive 888 thanks, then you'll be double lucky!

i already screwed up. gave IR a thanks on his "resort fee" comment

There's still hope.  Currently you have give out 889 thanks. 889 is also pretty good.  88=lucky 9=foever.
Just hold off "Thank You" for a little bit. :)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: qwerty on May 20, 2014, 02:11:26 PM
i was about to thank you which would have put me at 890.

so ill just type it up instead to keep my good luck.

thanks!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: lovingit on May 28, 2014, 10:42:06 PM
http://www.redfin.com/CA/Irvine/73-Chianti-92618/home/55734804
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Goriot on June 19, 2014, 02:27:02 PM
WTF!!!

http://www.redfin.com/CA/Irvine/1-Canyon-Sage-92620/home/4789473

Is this correct?  $1.4 million for 2,200 sqft in Northwood?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on June 19, 2014, 02:46:09 PM
WTF!!!

http://www.redfin.com/CA/Irvine/1-Canyon-Sage-92620/home/4789473

Is this correct?  $1.4 million for 2,200 sqft in Northwood?


At this price I thought the current owners paid off their MR/1915 bond already (listing agent stated 1% property tax in description) so that can justify the price, maybe.  Check oc tax, nope, MR/1915 still there.  This is a true WTF.  Walking to Canyon View and the park is nice though.  I believe they have a private entrance into the school/park. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: aquabliss on June 20, 2014, 10:46:30 AM
WTF!!!

http://www.redfin.com/CA/Irvine/1-Canyon-Sage-92620/home/4789473

Is this correct?  $1.4 million for 2,200 sqft in Northwood?


Wow that house is one of the uglier Irvine homes I've seen inside.  For about $5k I could make it look 100 times better.  If you're going to ask $1.4M for your home, you really need to spruce it up a bit and take better pictures. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: jamboreedude on June 20, 2014, 10:59:53 AM
WTF!!!

http://www.redfin.com/CA/Irvine/1-Canyon-Sage-92620/home/4789473

Is this correct?  $1.4 million for 2,200 sqft in Northwood?


Wow that house is one of the uglier Irvine homes I've seen inside.  For about $5k I could make it look 100 times better.  If you're going to ask $1.4M for your home, you really need to spruce it up a bit and take better pictures.

Damn, this is the MOST ugliest $1.4 million house I've ever seen.

The realtor and seller are obviously living in lalaland.

It will never sell for that price, or anywhere close to that!

Dream on Mr. Lupe Quezada!!!  FCB's are NOT stupid. :P
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on June 20, 2014, 04:20:18 PM
TI
WTF!!!

http://www.redfin.com/CA/Irvine/1-Canyon-Sage-92620/home/4789473

Is this correct?  $1.4 million for 2,200 sqft in Northwood?


Wow that house is one of the uglier Irvine homes I've seen inside.  For about $5k I could make it look 100 times better.  If you're going to ask $1.4M for your home, you really need to spruce it up a bit and take better pictures.

Damn, this is the MOST ugliest $1.4 million house I've ever seen.

The realtor and seller are obviously living in lalaland.

It will never sell for that price, or anywhere close to that!

Dream on Mr. Lupe Quezada!!!  FCB's are NOT stupid. :P

TILES EVERYWHERE!!!!!!!!!!!!!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: tooslow4u on June 20, 2014, 05:49:24 PM
WTF!!!

http://www.redfin.com/CA/Irvine/1-Canyon-Sage-92620/home/4789473

Is this correct?  $1.4 million for 2,200 sqft in Northwood?

This MUST be a joke. Makes me want to check out the house just to see who the seller's agent is.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: kalbi on June 20, 2014, 11:25:49 PM
WTF!!!

http://www.redfin.com/CA/Irvine/1-Canyon-Sage-92620/home/4789473

Is this correct?  $1.4 million for 2,200 sqft in Northwood?

This MUST be a joke. Makes me want to check out the house just to see who the seller's agent is.

Lupe is loopy for setting this ridiculous price!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on June 21, 2014, 08:14:05 AM
 :P
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on July 16, 2014, 06:45:13 PM
 ;D
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on July 16, 2014, 07:21:48 PM
Here's a good one:

http://www.redfin.com/CA/Irvine/28-Modesto-92602/home/5812194


Quote
OFFERS WILL BE ACCEPTED -ON SITE- ONE DAY ONLY!!! ?RAIN OR SHINE?. THIS SATURDAY JULY 19TH, FROM 11AM-4PM. OFFER FORMS WILL BE AVAILABLE -ON SITE- ALL DAY, FROM 11AM-4PM AND SOLD TO BEST OFFER / BUYER THAT PLACES AN OFFER ON SATURDAY ONLY!!!! * * * THE LIST PRICE IS THE RESERVE OR MINIMUM BID SUBJECT TO THE SELLERS ACCEPTANCE. PLEASE CONTACT YOUR REAL ESTATE AGENT FOR MORE INFORMATION? AUCTION STYLE SALE . .. NOT A SHORT SALE, REO OR DISTRESSED PROPERTY.
Sounds like an auction.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Goriot on July 16, 2014, 07:34:02 PM
Here's a good one:

http://www.redfin.com/CA/Irvine/28-Modesto-92602/home/5812194


Quote
OFFERS WILL BE ACCEPTED -ON SITE- ONE DAY ONLY!!! ?RAIN OR SHINE?. THIS SATURDAY JULY 19TH, FROM 11AM-4PM. OFFER FORMS WILL BE AVAILABLE -ON SITE- ALL DAY, FROM 11AM-4PM AND SOLD TO BEST OFFER / BUYER THAT PLACES AN OFFER ON SATURDAY ONLY!!!! * * * THE LIST PRICE IS THE RESERVE OR MINIMUM BID SUBJECT TO THE SELLERS ACCEPTANCE. PLEASE CONTACT YOUR REAL ESTATE AGENT FOR MORE INFORMATION? AUCTION STYLE SALE . .. NOT A SHORT SALE, REO OR DISTRESSED PROPERTY.

Why did they list it at $1.3 million a day before and do auction with an min bid at $705k?  Trying to give buyers hint on the target price?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: i1 on July 19, 2014, 03:06:28 PM
a
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Paris on July 19, 2014, 05:23:16 PM
https://www.redfin.com/CA/Irvine/66-Tall-Cedars-92620/home/7203303

Anyone else surprised by this sale price? Or is that the market in WB?

Wow, $511/sqft - I'm surprised. And small lot size too, 3400sqft. It's a beautiful home, nicely landscaped but for the size those sellers did well. Is WB in general selling at over $500 persqft? Any realtors have insight?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on July 19, 2014, 07:10:20 PM
Yvdgb
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: eyephone on July 19, 2014, 07:38:53 PM
https://www.redfin.com/CA/Irvine/66-Tall-Cedars-92620/home/7203303

Anyone else surprised by this sale price? Or is that the market in WB?

I'm shocked this sold at all given all the "mismatched" window treatments and the lack of shutters in every.single.window.

FWIW, I don't think that's the market in WB.  I think this is more the "market". mid $400s.
http://www.redfin.com/CA/Irvine/62-Sanctuary-92620/home/5958880
It met one of the criteria of FCB, low HOA okaay (okay)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: qwerty on July 19, 2014, 07:42:20 PM
I find it kind of funny that fcbs are willing to pay the prices they are and then concern themselves with low hoa's.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: NewIrvineBee on July 19, 2014, 07:58:02 PM
wow so funny. They both are approx. 1.2m but so big different.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: eyephone on July 19, 2014, 08:28:07 PM
https://www.redfin.com/CA/Irvine/66-Tall-Cedars-92620/home/7203303

Anyone else surprised by this sale price? Or is that the market in WB?

I'm shocked this sold at all given all the "mismatched" window treatments and the lack of shutters in every.single.window.

FWIW, I don't think that's the market in WB.  I think this is more the "market". mid $400s.
http://www.redfin.com/CA/Irvine/62-Sanctuary-92620/home/5958880

One more thing the Feng Shui Address Factor. Add the address 6 +2 =8!!!! (Success in business, physical power, material prosperity)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on July 19, 2014, 10:15:56 PM
If my memory is good, 66 Tall Cedars was owned by a TI member.  I know, I wanted that lot but he/she beat me to it.  Sonoma 3 bedroom for $1.2 million, who would've thought. 

(http://i1233.photobucket.com/albums/ff390/Ps99472/sonoma_zpsda87ef60.jpg)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on July 19, 2014, 10:31:34 PM
62 Sanctuary is a steal compared to 66 Tall Cedars, Villa Rosas has MR R6, which expires in Aug 2015 (1 more year!).  That will be a savings of $1800/year.  Sonomas has R7 = $800/year until Sept 2036

Agent for 66 Tall Cedars is either extremely skilled or lucky
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on July 19, 2014, 10:34:47 PM
Absolutely shocking price.. wonder what the real story is (if there is one).  Dual agent with a cash buyer.  Setting a huge new high for WB.  I was looking at 62 Sanctuary and thought it sold on the low side.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: aquabliss on July 19, 2014, 10:45:32 PM
50% tax free profit in just 4 years (assuming they're married).  Nicely done.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: eyephone on July 19, 2014, 10:54:14 PM
50% tax free profit in just 4 years (assuming they're married).  Nicely done.
That's for the federal return, but for CA state they will be taxed.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on July 19, 2014, 11:00:11 PM
Buyer Financing: Cash

that pretty much explains it, no bank would appraise for that much
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on July 19, 2014, 11:33:12 PM
50% tax free profit in just 4 years (assuming they're married).  Nicely done.
That's for the federal return, but for CA state they will be taxed.

Are you sure about that?  I have always read that CA follows Fed on this primary residence capital gains exclusion rule.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: eyephone on July 19, 2014, 11:51:16 PM
50% tax free profit in just 4 years (assuming they're married).  Nicely done.
That's for the federal return, but for CA state they will be taxed.

Are you sure about that?  I have always read that CA follows Fed on this primary residence capital gains exclusion rule.
I am positive.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on July 19, 2014, 11:53:30 PM
50% tax free profit in just 4 years (assuming they're married).  Nicely done.
That's for the federal return, but for CA state they will be taxed.

Are you sure about that?  I have always read that CA follows Fed on this primary residence capital gains exclusion rule.
+1  See below....

"Capital Gains on the Sale of a Principal Residence...
For sales and exchanges of residences occurring after May 6, 1997,
California law allows the taxpayer to exclude from gross income the
gain realized on the sale or exchange up to a maximum amount. The
exclusion is allowed if the taxpayer used the residence as a principal
residence for two of the previous five years. The subsequent purchase
of another residence is not required. The exclusion for a given sale
is limited to $250,000 for single income tax filers and $500,000 for
married taxpayers filing jointly. Exclusions can be claimed for
additional sales or exchanges providing the above conditions are met.
California law waives a portion of the two-year occupancy rule for
Peace Corp volunteers. Additionally, it does not conform to federal
transitional provisions which allow certain taxpayers to elect prior
tax treatment for certain sales."
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: eyephone on July 20, 2014, 12:07:09 AM
Ok I'm WRONG. I just read CA ftb pub 1001 page 8

https://www.ftb.ca.gov/forms/2013/13_1001.pdf
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: eclipxe on July 20, 2014, 12:10:23 AM
50% tax free profit in just 4 years (assuming they're married).  Nicely done.
That's for the federal return, but for CA state they will be taxed.

Are you sure about that?  I have always read that CA follows Fed on this primary residence capital gains exclusion rule.
I am positive.

 ;)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: qwerty on July 20, 2014, 12:22:12 AM
50% tax free profit in just 4 years (assuming they're married).  Nicely done.
That's for the federal return, but for CA state they will be taxed.

Are you sure about that?  I have always read that CA follows Fed on this primary residence capital gains exclusion rule.
I am positive.

Maybe next time your positive you may want to say "almost positive," "pretty sure," "almost certain" etc.
:-)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: aquabliss on July 20, 2014, 08:22:15 AM
Largest lot in PP is up for resale already.  It's a Hawthorne but forget what plan.  Lot size is 13,400 sq ft - they had an open house yesterday and I walked through, everything is standard and no landscaping yet.  Couldn't find it on Redfin but asking price is $1.68M.

Lot is nice but awkward shape.   It's a corner lot with no one in front or behind, location is great except for that it's near to the 4 story townhomes that are under construction.   It does sit above those but who knows how much noise they'll get once all those ruffians move in.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on July 20, 2014, 08:32:16 AM
Tvdgb
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: qwerty on July 20, 2014, 09:20:43 AM
I see long driveway and think - ugh $$ to landscape.

Spoken like a 1.01%-1.5%'er. :-)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on July 20, 2014, 10:20:13 AM
I see a long driveway and I think basketball court.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ob1 on July 22, 2014, 06:59:11 PM
Here's a good one:

http://www.redfin.com/CA/Irvine/28-Modesto-92602/home/5812194


Quote
OFFERS WILL BE ACCEPTED -ON SITE- ONE DAY ONLY!!! ?RAIN OR SHINE?. THIS SATURDAY JULY 19TH, FROM 11AM-4PM. OFFER FORMS WILL BE AVAILABLE -ON SITE- ALL DAY, FROM 11AM-4PM AND SOLD TO BEST OFFER / BUYER THAT PLACES AN OFFER ON SATURDAY ONLY!!!! * * * THE LIST PRICE IS THE RESERVE OR MINIMUM BID SUBJECT TO THE SELLERS ACCEPTANCE. PLEASE CONTACT YOUR REAL ESTATE AGENT FOR MORE INFORMATION? AUCTION STYLE SALE . .. NOT A SHORT SALE, REO OR DISTRESSED PROPERTY.

Why did they list it at $1.3 million a day before and do auction with an min bid at $705k?  Trying to give buyers hint on the target price?

Anyone know if this house sold?  Wonder how the auction approach worked out.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Irvine Dream on July 22, 2014, 07:26:55 PM
Rumor is they got a bid of 1.2 million
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Irvine Dream on July 22, 2014, 07:28:06 PM
Here's a good one:

http://www.redfin.com/CA/Irvine/28-Modesto-92602/home/5812194


Quote
OFFERS WILL BE ACCEPTED -ON SITE- ONE DAY ONLY!!! ?RAIN OR SHINE?. THIS SATURDAY JULY 19TH, FROM 11AM-4PM. OFFER FORMS WILL BE AVAILABLE -ON SITE- ALL DAY, FROM 11AM-4PM AND SOLD TO BEST OFFER / BUYER THAT PLACES AN OFFER ON SATURDAY ONLY!!!! * * * THE LIST PRICE IS THE RESERVE OR MINIMUM BID SUBJECT TO THE SELLERS ACCEPTANCE. PLEASE CONTACT YOUR REAL ESTATE AGENT FOR MORE INFORMATION? AUCTION STYLE SALE . .. NOT A SHORT SALE, REO OR DISTRESSED PROPERTY.

Why did they list it at $1.3 million a day before and do auction with an min bid at $705k?  Trying to give buyers hint on the target price?

Anyone know if this house sold?  Wonder how the auction approach worked out.

Rumor is they got a highest offer of 1.2 million but they were still taking back up offers.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: quattroporte on August 07, 2014, 07:46:10 PM
If you cant sell for $1,490,000 after 161 days, raise the price by $450,000 and hope it sells faster....

https://www.redfin.com/CA/Irvine/24-Twiggs-92620/home/5958403
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: lnc on August 07, 2014, 08:14:09 PM
If you cant sell for $1,490,000 after 161 days, raise the price by $450,000 and hope it sells faster....

https://www.redfin.com/CA/Irvine/24-Twiggs-92620/home/5958403

Those horrible pictures doesn't help either.  Why the real estate agent didn't hire a professional photographer is beyond me. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on August 07, 2014, 08:51:52 PM
If you cant sell for $1,490,000 after 161 days, raise the price by $450,000 and hope it sells faster....

https://www.redfin.com/CA/Irvine/24-Twiggs-92620/home/5958403

Those horrible pictures doesn't help either.  Why the real estate agent didn't hire a professional photographer is beyond me. 


Greedy agent who wants to save a few hundred bucks.. the listing also looks to have incorrect size info.  4800 sq ft on a 5075 sq ft lot?  Doesn't sound right to me.  This agent needs to take some math and reading classes as well.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on August 07, 2014, 08:54:21 PM
http://www.redfin.com/CA/Irvine/76-Loganberry-92620/home/5958937

Plan 3 Portisol @ $1.05 million.  Let's see, the previous model match closes at $939k and this one is worth 100k more?  The agent even lies about the square footage of the house to make the price per sq ft more in-line with the comps.  Sneaky sneaky...
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on August 07, 2014, 08:59:28 PM
[quotasdf
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on August 07, 2014, 09:01:08 PM
http://www.redfin.com/CA/Irvine/76-Loganberry-92620/home/5958937

Plan 3 Portisol @ $1.05 million.  Let's see, the previous model match closes at $939k and this one is worth 100k more?  The agent even lies about the square footage of the house to make the price per sq ft more in-line with the comps.  Sneaky sneaky...

Haha. You beat me to it. I was going to wait to see pictures before passing judgment ;)

The zillow link has the pics up - http://www.zillow.com/homedetails/76-Loganberry-Irvine-CA-92620/64450231_zpid/
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on August 07, 2014, 09:05:16 PM
Here's another crazy WTF seller.  Plan 1 Portisol @ 865k.  This is the price the Plan 2s go for and there are MANY Plan 2 comps at this price.  Last two Plan 1s sold for 795k and 815k.  With the slightly declining (I mean, softening) market, Plan 1s should be high 700s.

http://www.redfin.com/CA/Irvine/28-Waterspout-92620/home/5959374
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on August 07, 2014, 09:09:12 PM
[quoasdf
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on August 07, 2014, 10:09:54 PM
The one thing about some of these Portisol homes is even though the lots aren't huge there is good setback from your back neighbor and from the street (I like it when hoods have that sidewalk and then grass berm before the street).

No in your face back wall in these homes.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ob1 on August 08, 2014, 07:26:38 AM
Is NP home to the crazy WTF asking price?

Either that or maybe I'm missing something on this $552/SF ($2.3M) gem in NP.

http://www.redfin.com/CA/Irvine/2-Templeton-92602/home/5770592

Listing says 10K SF lot, but checking the map, it really doesn't look that big.

I'll hit the open house on Saturday then pop by OS' to listen to some white people music and sip chardonnay. 
#nevergonnagiveyouup



Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on August 08, 2014, 07:38:31 AM
$700k jump in 4 years? 2 Templeton is drinking some crazy sauce.

But it is HUGE... 4400sf? The floorplan is pretty good (all the spaces you need). Not a fan of the Porte Cochere but at least this one has a basketball hoop.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Irvine Dream on August 08, 2014, 09:09:37 AM
$700k jump in 4 years? 2 Templeton is drinking some crazy sauce.

But it is HUGE... 4400sf? The floorplan is pretty good (all the spaces you need). Not a fan of the Porte Cochere but at least this one has a basketball hoop.

May be Paris was right.  New Groves are cheaper than resale in NP? ;D

The same realtor previously listed a house in NP that we all thought was WTF.  Looks like that sold too with only a minor reduction in price.  Guess if you list it they will buy  >:(
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ob1 on August 08, 2014, 09:20:29 AM
$700k jump in 4 years? 2 Templeton is drinking some crazy sauce.

But it is HUGE... 4400sf? The floorplan is pretty good (all the spaces you need). Not a fan of the Porte Cochere but at least this one has a basketball hoop.

May be Paris was right.  New Groves are cheaper than resale in NP? ;D

The same realtor previously listed a house in NP that we all thought was WTF.  Looks like that sold too with only a minor reduction in price.  Guess if you list it they will buy  >:(

I think she was saying similarly priced and that's definitely right. 

Take a look at this $1.725M NP beauty:

http://www.redfin.com/CA/Irvine/9-Atascadero-92602/home/5857031

Some posters here say you can just ignore asking price, but most are at least loosely based on comps.
These sellers probably aren't going to back down unless there's a correction. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ZeroLot on August 08, 2014, 09:22:02 AM
$700k jump in 4 years? 2 Templeton is drinking some crazy sauce.

But it is HUGE... 4400sf? The floorplan is pretty good (all the spaces you need). Not a fan of the Porte Cochere but at least this one has a basketball hoop.

4400 sf is huge BUT 2.3 mil and it's not even a 3CWG?!

WTF, Taylor Woodrow!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: eclipxe on August 08, 2014, 09:55:38 AM
Is NP home to the crazy WTF asking price?

Either that or maybe I'm missing something on this $552/SF ($2.3M) gem in NP.

http://www.redfin.com/CA/Irvine/2-Templeton-92602/home/5770592

Listing says 10K SF lot, but checking the map, it really doesn't look that big.

I'll hit the open house on Saturday then pop by OS' to listen to some white people music and sip chardonnay. 
#nevergonnagiveyouup

Nice house, but no way that lot is 10k.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on August 08, 2014, 09:58:10 AM
[quoasdf
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ob1 on August 08, 2014, 10:14:53 AM
$700k jump in 4 years? 2 Templeton is drinking some crazy sauce.

But it is HUGE... 4400sf? The floorplan is pretty good (all the spaces you need). Not a fan of the Porte Cochere but at least this one has a basketball hoop.

May be Paris was right.  New Groves are cheaper than resale in NP? ;D

The same realtor previously listed a house in NP that we all thought was WTF.  Looks like that sold too with only a minor reduction in price.  Guess if you list it they will buy  >:(

I think she was saying similarly priced and that's definitely right. 

Take a look at this $1.725M NP beauty:

http://www.redfin.com/CA/Irvine/9-Atascadero-92602/home/5857031

Some posters here say you can just ignore asking price, but most are at least loosely based on comps.
These sellers probably aren't going to back down unless there's a correction. 

What comp is templeton based on?  I don't see anything that traded for $500+psf in northpark in the last 6 months. Only checked stuff over $1m.  Did I miss one?

I dont know, but I'd be curious to see what the last NP home with a 10K lot sold for, since that's what this one supposedly has.
It may be that there are no such homes/comps in NP.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on August 08, 2014, 12:00:23 PM
http://www.redfin.com/CA/Irvine/76-Loganberry-92620/home/5958937

Plan 3 Portisol @ $1.05 million.  Let's see, the previous model match closes at $939k and this one is worth 100k more?  The agent even lies about the square footage of the house to make the price per sq ft more in-line with the comps.  Sneaky sneaky...

I just read the description and even the description has lies in it! 

"The downstairs den/office can be easily converted into a fifth bedroom. "  If converted it would be the FOURTH bedroom.  So the layout is really 3 bedrooms + 1 office.

Here's another funny statement -  "The oversized premium lot is a entertainers delight."  3600 sq ft lot is considered an oversized premium lot?  haha
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on August 08, 2014, 01:22:56 PM
 :-*
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ob1 on August 08, 2014, 01:33:17 PM
In NP, we take #fuckingdelusional to a whole new level.

I consider NWP to be NP's price ceiling and WI to be its floor. There are some significant exceptions. For example, the attached product and detached condo products in WI sometimes trade at an inexplicable premium to NP, perhaps due to the "side of the toll road" locale of NP's attached. And a few of the executive homes in NP trade at a premium to NWP, presumably because of the amenities?

And lately, I've seen a few closings in NP Square that are seemingly on par with NP.

The real story is low volume. 92602 is off 20-40% YoY for the past 9 months. My sense is the low volume translates to volatility, and the products in NP straddle nearly every price point in the market, so it's hard to gauge relative value without many comps.

What do you think of that supposed 10K lot?  #purefiction
I've seen brokers fudge numbers, but even if you include that greenbelt in front, i dont see 10K.
 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on August 08, 2014, 01:40:19 PM
 :P
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ob1 on August 08, 2014, 01:59:42 PM
My sense is the seller is including the green patch adjacent the home, which I believe is common area. Only possibility is some sort of easement? That'd be highly unusual 'round these parts.

The rest of the dirt simply surrounds the home, so I don't see how in the world it could be a 10k lot.

If we're including common area, hell, we've got a few acres !!

Yeah, that looks like common area.
I don't know how you include that without jeopardizing your license.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Irvine Dream on August 08, 2014, 03:06:41 PM

[/quote]

Yeah, that looks like common area.
I don't know how you include that without jeopardizing your license.
[/quote]

Well the same realtor also has the listing of 27 Calistoga.  I would be surprised if the listed sq footage of the house is correct.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ob1 on August 08, 2014, 03:21:57 PM


Yeah, that looks like common area.
I don't know how you include that without jeopardizing your license.
[/quote]

Well the same realtor also has the listing of 27 Calistoga.  I would be surprised if the listed sq footage of the house is correct.
[/quote]

I know and i've seen others that seemed questionable, but never to this extent. 
This one looks to be at least a few thousand feet off.
I'm going to the open house for sure.  #callingbullshit
 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on August 08, 2014, 08:34:45 PM
(http://i1233.photobucket.com/albums/ff390/Ps99472/2templetona_zpsdee0acd6.png)
(http://i1233.photobucket.com/albums/ff390/Ps99472/2templeton_zps99ece122.jpg)


http://www.redfin.com/CA/Irvine/3-Templeton-92602/home/5770585/crmls-P665239
http://www.redfin.com/CA/Irvine/2-Los-Olivos-92602/home/5770612

Still hard to see how 2 Templeton is 10,000 sq ft., but all google fu signs point towards it.  3 Templeton is at 13,000 sq ft lot and 2 Los Olivos is at 9,000 sq ft lot. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: 0$ on August 08, 2014, 10:29:37 PM
 >:(
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on September 22, 2014, 10:38:28 PM
This seller must have sniffed a bit too much of the toxic dirt that blew over to PP from the Great Park thinking they'll get over $500/sf on this home with no landscaping (especially since they purchased it for $1,436,000 on 7/29/14)...

https://www.redfin.com/CA/Irvine/184-Salmon-92618/home/58459120

This seller obviously didn't get the message that the market has cooled off since last year.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Irvine Dream on September 23, 2014, 09:22:30 AM
This seller must have sniffed a bit too much of the toxic dirt that blew over to PP from the Great Park thinking they'll get over $500/sf on this home with no landscaping (especially since they purchased it for $1,436,000 on 7/29/14)...

https://www.redfin.com/CA/Irvine/184-Salmon-92618/home/58459120

This seller obviously didn't get the message that the market has cooled off since last year.

I guess it is obvious that they are targeting only FCBs.  I have been however surprised again and again with successful sales of WTF listings some of them with obviously incorrect info (square footage of the house or lot size)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: paperboyNC on September 23, 2014, 10:18:24 AM
This seller must have sniffed a bit too much of the toxic dirt that blew over to PP from the Great Park thinking they'll get over $500/sf on this home with no landscaping (especially since they purchased it for $1,436,000 on 7/29/14)...

https://www.redfin.com/CA/Irvine/184-Salmon-92618/home/58459120

This seller obviously didn't get the message that the market has cooled off since last year.

For that kind of money I'd get this home:
https://www.redfin.com/CA/Laguna-Beach/1375-Terrace-Way-92651/home/4892467

Yeah it's a little more expensive but the lack of Mello-roos and the higher SF makes up for it. Plus there's the "180-degree views of the crashing Pacific and Catalina beyond can be seen from all levels and virtually every room."
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Paris on September 23, 2014, 05:46:18 PM
This seller must have sniffed a bit too much of the toxic dirt that blew over to PP from the Great Park thinking they'll get over $500/sf on this home with no landscaping (especially since they purchased it for $1,436,000 on 7/29/14)...

https://www.redfin.com/CA/Irvine/184-Salmon-92618/home/58459120

This seller obviously didn't get the message that the market has cooled off since last year.

For that kind of money I'd get this home:
https://www.redfin.com/CA/Laguna-Beach/1375-Terrace-Way-92651/home/4892467

Yeah it's a little more expensive but the lack of Mello-roos and the higher SF makes up for it. Plus there's the "180-degree views of the crashing Pacific and Catalina beyond can be seen from all levels and virtually every room."

Those are some gorgeous views! Why has it been on the market for so long, what's wrong with it?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: eyephone on September 23, 2014, 06:48:00 PM
This seller must have sniffed a bit too much of the toxic dirt that blew over to PP from the Great Park thinking they'll get over $500/sf on this home with no landscaping (especially since they purchased it for $1,436,000 on 7/29/14)...

https://www.redfin.com/CA/Irvine/184-Salmon-92618/home/58459120

This seller obviously didn't get the message that the market has cooled off since last year.

For that kind of money I'd get this home:
https://www.redfin.com/CA/Laguna-Beach/1375-Terrace-Way-92651/home/4892467

Yeah it's a little more expensive but the lack of Mello-roos and the higher SF makes up for it. Plus there's the "180-degree views of the crashing Pacific and Catalina beyond can be seen from all levels and virtually every room."

Those are some gorgeous views! Why has it been on the market for so long, what's wrong with it?

Pricey and cooling housing market.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: lnc on October 22, 2014, 04:40:22 PM
This is not an Irvine property but it is certainly a WTF listing.  This Uninhabitable’ Palo Alto Home On Market For $1.8M (http://sanfrancisco.cbslocal.com/2014/10/21/uninhabitable-palo-alto-home-on-market-for-1-8m/) makes Orchard Hill home looks like the bargain of the century and it actually got offers. :o

Quote
A home that may be infested with rodents is on the market in Palo Alto with a staggering asking price.

Neighbors were stunned when the dilapidated home went on the market for $1.8 million.
“We thought it would possibly go for $650,000, maybe $700,000.  Then when it came out originally for $1.6 million, and then they raised it to $1.8 million, we were like, I’m kind of dumbfounded,” neighbor Dave Ashton said.

The house is in such bad shape that prospective bidders can’t even go inside to take a tour.  Part of the house is being held up by wooden posts.
“It’s obviously uninhabitable,” Ashton said.  Realtor Debbie Wilhelm said if the home’s eventual new owners plan to bulldoze the house and start fresh, they will likely have to add nearly $1 million on to the price tag.

The seller received two offers Tuesday, and Wilhelm says it will sell to a group of investors
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: shadyoc on October 26, 2014, 11:11:45 PM
What the heck is going on with this home.  Price history looks strange.

https://www.redfin.com/CA/Irvine/200-Shelbourne-92620/home/51682353
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on October 27, 2014, 03:42:28 PM
What the heck is going on with this home.  Price history looks strange.

https://www.redfin.com/CA/Irvine/200-Shelbourne-92620/home/51682353
I think you can call that a bug on Redfin's side.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on November 09, 2014, 03:28:03 PM
https://www.redfin.com/CA/Irvine/8-Gardenia-92620/home/4793013

Turtle Ridge pricing but in Northwood Pointe.  So asking for $2 million for a single story in Arbor Crest.  Maybe someone with Bathmophobia will buy it?

Are those powerpoint displays?  Brings back memories.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: aquabliss on January 02, 2015, 04:29:08 PM
https://www.redfin.com/CA/Irvine/41-Midnight-Sky-92620/home/5959375

This house in Woodbury sold for $775k last month now back on the market for $900k.  Seems like a particularly good deal for $775k, landscaping in front and back is nicely done and lot size is good.  Looks like it might be a corner lot as well.

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: samuroo on January 02, 2015, 05:37:04 PM
Is the listed square footage correct? I thought it was under 1900.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on January 02, 2015, 08:19:52 PM
Is the listed square footage correct? I thought it was under 1900.

Nope.  It's a Plan 2 Portisol so it's 1949 sq ft.  Plenty of comps for this model in the last 6 months.  My guess is that it will close around $850k.

The funny thing is that it was listed at $1.1 million back in Oct 2013!  Now THAT's a true WTF price.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: thelandofnoland on January 03, 2015, 09:12:04 AM
Please contact me at http://thenewhomeblog.wix.com/the-new-home-blog for more information on the original post. Thank you.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on January 03, 2015, 01:05:50 PM
That's the best plan in Laurel... but don't be fooled by the picture, that's actually the back of the home. These are back garage type homes with the entrance in the front off of a paseo.

That one is unique in that tract as it's one of the few that have a driveway because most of those plans are just alley/motorcourts.

$1m+ for a detached condo is becoming the norm in Irvine (when I was looking at these, they were mid $750k about 5 years ago).

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: aquabliss on January 05, 2015, 01:14:43 AM
Canopy has been listed for 101 days and no price reduction.  Stubborn sellers.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on January 05, 2015, 02:07:59 PM
Canopy has been listed for 101 days and no price reduction.  Stubborn sellers.
There's a lot of those sellers out there...they still think it's 2013 for some reason.  haha
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Irvine Dream on January 07, 2015, 05:36:03 PM
Well it is official.  Bull market is coming back and spring prices are already here.  I see a number of houses that were lingering for a while that are coming back to life with higher prices.  One example is here

https://www.redfin.com/CA/Tustin/835-Polaris-Dr-92782/home/5957187/crmls-OC15003923

Good for IHO who bought.  I think I am priced out for ever.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: gasman on January 28, 2015, 05:05:13 PM
https://www.redfin.com/CA/Irvine/52-Peacevine-92618/home/55184229

Lambert Ranch going nuts.  $603/sf.

The two recent comps in the area sold for $490/sf, and $499/sf respectively.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: rkp on January 28, 2015, 05:06:28 PM
https://www.redfin.com/CA/Irvine/52-Peacevine-92618/home/55184229

Lambert Ranch going nuts.  $603/sf.

The two recent comps in the area sold for $490/sf, and $499/sf respectively.

We had a Field 3 below $900K in our hands and let it pass.  DOH!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: eyephone on January 28, 2015, 05:10:38 PM
https://www.redfin.com/CA/Irvine/52-Peacevine-92618/home/55184229

Lambert Ranch going nuts.  $603/sf.

The two recent comps in the area sold for $490/sf, and $499/sf respectively.

We had a Field 3 below $900K in our hands and let it pass.  DOH!

#amazing
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: lennos79 on January 29, 2015, 08:55:50 AM
Listing agent needs to update the Lambert Ranch HOA dues to $360/month, now that they have 24-hour, front-gate attendant.

https://www.redfin.com/CA/Irvine/52-Peacevine-92618/home/55184229

Lambert Ranch going nuts.  $603/sf.

The two recent comps in the area sold for $490/sf, and $499/sf respectively.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: aquabliss on January 29, 2015, 02:08:00 PM
https://www.redfin.com/CA/Irvine/52-Peacevine-92618/home/55184229

Lambert Ranch going nuts.  $603/sf.

The two recent comps in the area sold for $490/sf, and $499/sf respectively.

We had a Field 3 below $900K in our hands and let it pass.  DOH!

Since you would have made over $500k on it, you would have to pay income tax on the gains (over $500k).  That is one problem you certainly do not want to have.  Consider yourself lucky.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: gasman on January 29, 2015, 02:39:51 PM
Since you would have made over $500k on it, you would have to pay income tax on the gains (over $500k).  That is one problem you certainly do not want to have.  Consider yourself lucky.

There are ways around that... ;)

Renovation costs offset the gains, so yard work, upgrades, improvements, etc., which were not listed on the original builder's sales sheet all count as deductions on the gains balance.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on February 02, 2015, 04:12:36 PM
Want something no one else has in cookie cutter north irvine?  Here's your chance! 

http://www.redfin.com/CA/Irvine/25-Shaman-92618/home/7204580
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: rkp on February 02, 2015, 05:38:01 PM
Want something no one else has in cookie cutter north irvine?  Here's your chance! 

http://www.redfin.com/CA/Irvine/25-Shaman-92618/home/7204580

"This “One and Only” home in ALL of Irvine is situated on a Single-Loaded Cul-de-Sac Street LOT PREMIUM with a 3-Car Garage, Over-Sized Driveway, and Front Courtyard! "

How do realtors get away with making such broad absolute statements?  Highly doubt the realtor knows every single house in Irvine. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: eyephone on February 02, 2015, 06:37:48 PM
Want something no one else has in cookie cutter north irvine?  Here's your chance! 

http://www.redfin.com/CA/Irvine/25-Shaman-92618/home/7204580

"This “One and Only” home in ALL of Irvine is situated on a Single-Loaded Cul-de-Sac Street LOT PREMIUM with a 3-Car Garage, Over-Sized Driveway, and Front Courtyard! "

How do realtors get away with making such broad absolute statements?  Highly doubt the realtor knows every single house in Irvine.

I rarely pay attention to descriptions. What I pay attention are photos or lack of photos.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: NYT on February 02, 2015, 08:02:26 PM
https://www.redfin.com/CA/Irvine/52-Peacevine-92618/home/55184229

Lambert Ranch going nuts.  $603/sf.

The two recent comps in the area sold for $490/sf, and $499/sf respectively.

They're probably not going to get that price. Even though the current Redfin listing indicates 20 days, the home was actually originally for sale for the same price starting on 4/19/2014 and was listed for 113 days before being taken off the market. They re-listed again on 1/13/15 at the exact same price as before.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Laniakea on February 02, 2015, 09:11:08 PM
Want something no one else has in cookie cutter north irvine?  Here's your chance! 

http://www.redfin.com/CA/Irvine/25-Shaman-92618/home/7204580

"This “One and Only” home in ALL of Irvine is situated on a Single-Loaded Cul-de-Sac Street LOT PREMIUM with a 3-Car Garage, Over-Sized Driveway, and Front Courtyard! "

How do realtors get away with making such broad absolute statements?  Highly doubt the realtor knows every single house in Irvine.

because this is one of the only three model homes ever built by Pardee homes in Irvine in 2008, then Pardee sold the empty lots to Taylor Morrison when market crashed, so three model homes happened to be custom homes so to speak. This is one of them.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: rkp on February 02, 2015, 11:35:17 PM
Want something no one else has in cookie cutter north irvine?  Here's your chance! 

http://www.redfin.com/CA/Irvine/25-Shaman-92618/home/7204580

"This “One and Only” home in ALL of Irvine is situated on a Single-Loaded Cul-de-Sac Street LOT PREMIUM with a 3-Car Garage, Over-Sized Driveway, and Front Courtyard! "

How do realtors get away with making such broad absolute statements?  Highly doubt the realtor knows every single house in Irvine.

because this is one of the only three model homes ever built by Pardee homes in Irvine in 2008, then Pardee sold the empty lots to Taylor Morrison when market crashed, so three model homes happened to be custom homes so to speak. This is one of them.

But that isnt what they are advertising as making it one of a kind.  They are saying its exclusive because of the "Single-Loaded Cul-de-Sac Street LOT PREMIUM with a 3-Car Garage, Over-Sized Driveway, and Front Courtyard!"

That is total BS.  I am not a realtor and I know its BS because a house that matches that sold just a couple months ago in our hood: https://www.redfin.com/CA/Irvine/20-Bungalow-92620/home/5950553

single loaded CDS - check
lot premium - marketing BS so anyone can check this
3 car garage - check
oversized driveway - check
front courtyard - check

The Shaman house is very nice but its not unique because of the elements they noted.  It might be unique for other reasons but those reasons don't matter to a typical Irvine buyer.  Really which type of buyer cares that pardee stopped building?  If they care about that, then they will love my house.  It is extremely unique cause I am yet to fix the hole in the wall from my kids banging the door repeatedly after removing the stopper.  Its really one of a kind and must see.

This house is not a one and only.  There is nothing so amazingly unique that it commands a premium for rarity.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: aquabliss on February 03, 2015, 01:04:02 AM
Want something no one else has in cookie cutter north irvine?  Here's your chance! 

http://www.redfin.com/CA/Irvine/25-Shaman-92618/home/7204580

"This “One and Only” home in ALL of Irvine is situated on a Single-Loaded Cul-de-Sac Street LOT PREMIUM with a 3-Car Garage, Over-Sized Driveway, and Front Courtyard! "

How do realtors get away with making such broad absolute statements?  Highly doubt the realtor knows every single house in Irvine.

because this is one of the only three model homes ever built by Pardee homes in Irvine in 2008, then Pardee sold the empty lots to Taylor Morrison when market crashed, so three model homes happened to be custom homes so to speak. This is one of them.

Look like a 3 car TANDEM garage, of which the 3rd car won't fit due to garage closet placement.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on February 03, 2015, 05:49:07 AM
Want something no one else has in cookie cutter north irvine?  Here's your chance! 

http://www.redfin.com/CA/Irvine/25-Shaman-92618/home/7204580

"This “One and Only” home in ALL of Irvine is situated on a Single-Loaded Cul-de-Sac Street LOT PREMIUM with a 3-Car Garage, Over-Sized Driveway, and Front Courtyard! "

How do realtors get away with making such broad absolute statements?  Highly doubt the realtor knows every single house in Irvine.

because this is one of the only three model homes ever built by Pardee homes in Irvine in 2008, then Pardee sold the empty lots to Taylor Morrison when market crashed, so three model homes happened to be custom homes so to speak. This is one of them.

But that isnt what they are advertising as making it one of a kind.  They are saying its exclusive because of the "Single-Loaded Cul-de-Sac Street LOT PREMIUM with a 3-Car Garage, Over-Sized Driveway, and Front Courtyard!"

That is total BS.  I am not a realtor and I know its BS because a house that matches that sold just a couple months ago in our hood: https://www.redfin.com/CA/Irvine/20-Bungalow-92620/home/5950553

single loaded CDS - check
lot premium - marketing BS so anyone can check this
3 car garage - check
oversized driveway - check
front courtyard - check

The Shaman house is very nice but its not unique because of the elements they noted.  It might be unique for other reasons but those reasons don't matter to a typical Irvine buyer.  Really which type of buyer cares that pardee stopped building?  If they care about that, then they will love my house.  It is extremely unique cause I am yet to fix the hole in the wall from my kids banging the door repeatedly after removing the stopper.  Its really one of a kind and must see.

This house is not a one and only.  There is nothing so amazingly unique that it commands a premium for rarity.

I'm with the other dude, I read it as this is a one and only home bc this floorplan/exterior exists in only one home in all of irvine due to the defunct Prado project. Then it just goes on to say where it is situated... the single loaded street, etc, etc.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: rkp on February 03, 2015, 07:54:59 AM
I'm with the other dude, I read it as this is a one and only home bc this floorplan/exterior exists in only one home in all of irvine due to the defunct Prado project. Then it just goes on to say where it is situated... the single loaded street, etc, etc.

read it again and i think you guys are right.  doh what a wasted rant :) 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on February 03, 2015, 07:58:53 AM
That's
I'm with the other dude, I read it as this is a one and only home bc this floorplan/exterior exists in only one home in all of irvine due to the defunct Prado project. Then it just goes on to say where it is situated... the single loaded street, etc, etc.

read it again and i think you guys are right.  doh what a wasted rant :) 

Half of TI is wasted rant :)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on February 03, 2015, 08:54:16 AM
Half of TI is wasted rant ps9's food reviews, qwerter's food throwaways, yaliu's ghosts and IHO's unicorns.
Fixed.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: RandomLetters on February 12, 2015, 04:10:28 PM


https://www.redfin.com/CA/Irvine/11-Ivanhoe-92602/home/5857103

This description cracked me up!

"May we suggest reservations? In the Gentle Rolling Hills of Orange County is Northpark, a Guard Gated Community Exuding Some of Irvine's Finest Luxury Homes."

I wonder if the agent has ever been to NP. 
"The gentle rolling hills"??  Maybe a community speed bump?

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on February 12, 2015, 04:31:49 PM
They spent all that money on hardscape and paint yet they didn't upgrade their kitchen cabinets and appliances???  ???
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Bullsback on February 12, 2015, 05:09:18 PM
That house is hideous. Are they going to sell it to a mobster or something. Awful. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: RandomLetters on February 12, 2015, 05:23:44 PM
At $2.2, They should at least paint over that hideous faux marble paint (or whatever the hell that is).
The agent probably thinks the 8s in the price overrides all when it comes to FCBs.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: abcd1234 on February 13, 2015, 10:27:42 AM
I can't stand when the dining room is carpeted- and when there are several different flooring options on the first floor (carpet, tile wood).
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on February 23, 2015, 12:41:22 AM
Why is this seller wasting everyone's time with this listing?

https://www.redfin.com/CA/Irvine/127-Compass-92618/home/65023404

Over $500/sf at PP?  Come on, the seller paid $890k for the home back in Nov. 2013.  $1m?  Sure  $1.1m?  If they find the right buyer and they put in $$$ into the backyard.  But $1.3m is nuts.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: eyephone on February 23, 2015, 01:24:56 AM
Why is this seller wasting everyone's time with this listing?

https://www.redfin.com/CA/Irvine/127-Compass-92618/home/65023404

Over $500/sf at PP?  Come on, the seller paid $890k for the home back in Nov. 2013.  $1m?  Sure  $1.1m?  If they find the right buyer and they put in $$$ into the backyard.  But $1.3m is nuts.

Someone should tell them that the housing market has slowed down a bit. 



Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on February 23, 2015, 02:53:41 AM
Why is this seller wasting everyone's time with this listing?

https://www.redfin.com/CA/Irvine/127-Compass-92618/home/65023404

Over $500/sf at PP?  Come on, the seller paid $890k for the home back in Nov. 2013.  $1m?  Sure  $1.1m?  If they find the right buyer and they put in $$$ into the backyard.  But $1.3m is nuts.

Someone should tell them that the housing market has slowed down a bit. 

No need to, the market (with the lack of showings and offers) will tell them that.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: aquabliss on February 23, 2015, 08:16:44 AM
I think there's now a cemetery surcharge... That would explain it.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: . on February 23, 2015, 09:17:15 AM
please be nice to my neighbor....  :)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: NYT on February 23, 2015, 09:30:49 AM
Why is this seller wasting everyone's time with this listing?

https://www.redfin.com/CA/Irvine/127-Compass-92618/home/65023404

Over $500/sf at PP?  Come on, the seller paid $890k for the home back in Nov. 2013.  $1m?  Sure  $1.1m?  If they find the right buyer and they put in $$$ into the backyard.  But $1.3m is nuts.

Also, why of the 7 pictures, 6 of them are exterior shots of the house and/or of the community? And the one of the interior kitchen seems to maybe be the model? At least that's what it looks like to me, not being familiar with that model.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: . on February 23, 2015, 01:15:09 PM
Why is this seller wasting everyone's time with this listing?

https://www.redfin.com/CA/Irvine/127-Compass-92618/home/65023404

Over $500/sf at PP?  Come on, the seller paid $890k for the home back in Nov. 2013.  $1m?  Sure  $1.1m?  If they find the right buyer and they put in $$$ into the backyard.  But $1.3m is nuts.

Also, why of the 7 pictures, 6 of them are exterior shots of the house and/or of the community? And the one of the interior kitchen seems to maybe be the model? At least that's what it looks like to me, not being familiar with that model.

Hit a reload/refresh button, you will see there are 34 pictures.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: eyephone on February 23, 2015, 01:22:33 PM
Why is this seller wasting everyone's time with this listing?

https://www.redfin.com/CA/Irvine/127-Compass-92618/home/65023404

Over $500/sf at PP?  Come on, the seller paid $890k for the home back in Nov. 2013.  $1m?  Sure  $1.1m?  If they find the right buyer and they put in $$$ into the backyard.  But $1.3m is nuts.

Also, why of the 7 pictures, 6 of them are exterior shots of the house and/or of the community? And the one of the interior kitchen seems to maybe be the model? At least that's what it looks like to me, not being familiar with that model.

Hit a reload/refresh button, you will see there are 34 pictures.

Oh great - don't tell me this is your house Yaliu?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on February 23, 2015, 01:27:29 PM


Naaaa. It's my house. Step 1 of my gtfo irvine plan.  Someone buy it please!!!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: rkp on February 23, 2015, 01:28:26 PM

Hit a reload/refresh button, you will see there are 34 pictures.

still way too many community pics vs internal pics.  also anything over a $1M should have staging. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: . on February 23, 2015, 02:12:45 PM
Why is this seller wasting everyone's time with this listing?

https://www.redfin.com/CA/Irvine/127-Compass-92618/home/65023404

Over $500/sf at PP?  Come on, the seller paid $890k for the home back in Nov. 2013.  $1m?  Sure  $1.1m?  If they find the right buyer and they put in $$$ into the backyard.  But $1.3m is nuts.

Also, why of the 7 pictures, 6 of them are exterior shots of the house and/or of the community? And the one of the interior kitchen seems to maybe be the model? At least that's what it looks like to me, not being familiar with that model.

Hit a reload/refresh button, you will see there are 34 pictures.

Oh great - don't tell me this is your house Yaliu?

he is actually walking distance away from me.  if you go to his house and start to knock on his neighbor"S" door and you see a handsome/good looking/charming asian, that will be me.  :)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Irvine Dream on February 23, 2015, 02:12:54 PM

Hit a reload/refresh button, you will see there are 34 pictures.

still way too many community pics vs internal pics.  also anything over a $1M should have staging.

It will be interesting if someone has the time and resources to put-to-gether the past WTF listings and how much they sold for.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on February 23, 2015, 02:22:53 PM
Why is this seller wasting everyone's time with this listing?

https://www.redfin.com/CA/Irvine/127-Compass-92618/home/65023404

Over $500/sf at PP?  Come on, the seller paid $890k for the home back in Nov. 2013.  $1m?  Sure  $1.1m?  If they find the right buyer and they put in $$$ into the backyard.  But $1.3m is nuts.

Also, why of the 7 pictures, 6 of them are exterior shots of the house and/or of the community? And the one of the interior kitchen seems to maybe be the model? At least that's what it looks like to me, not being familiar with that model.

Hit a reload/refresh button, you will see there are 34 pictures.
Oh you mean the 20 pictures of the common areas?  haha  Btw, how much did they spend on the backyard....like $10k?  It looks horrible.  lol
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Compressed-Village on February 23, 2015, 02:38:57 PM
not even close. More like 2 K Max.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: eyephone on February 23, 2015, 03:05:43 PM
Why is this seller wasting everyone's time with this listing?

https://www.redfin.com/CA/Irvine/127-Compass-92618/home/65023404

Over $500/sf at PP?  Come on, the seller paid $890k for the home back in Nov. 2013.  $1m?  Sure  $1.1m?  If they find the right buyer and they put in $$$ into the backyard.  But $1.3m is nuts.

Also, why of the 7 pictures, 6 of them are exterior shots of the house and/or of the community? And the one of the interior kitchen seems to maybe be the model? At least that's what it looks like to me, not being familiar with that model.

Hit a reload/refresh button, you will see there are 34 pictures.
Oh you mean the 20 pictures of the common areas?  haha  Btw, how much did they spend on the backyard....like $10k?  It looks horrible.  lol

I just took another glance at the pictures. I noticed they don't have shutters.

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on February 24, 2015, 03:49:57 PM
This isn't a newer home as it was built in the 80s but I guess since it was remodeled in 2005, it should count:

https://www.redfin.com/CA/Irvine/18-Bayview-92614/home/4692617

(https://ssl.cdn-redfin.com/photo/45/bigphoto/799/NP15037799_3_1.jpg)

You can tell they put a lot of customization into it but $1.8m for a 4br house they converted into a 2br house... you better like their style.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on February 24, 2015, 08:20:17 PM
too much wood
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: aquabliss on February 24, 2015, 10:40:18 PM
too much wood

So many potential jokes here... I don't know to start.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Homer_Simpson on February 25, 2015, 07:13:47 AM
too much wood

So many potential jokes here... I don't know to start.

Paging Qwerty!!!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: sharaabi on February 27, 2015, 05:32:36 PM
Not only is this home overpriced by a good $200k, the seller is only offering 2% buyer's agent commission.  I guess the sellers want to walk away with some profit since they bought it for $1.278m.  haha

http://www.redfin.com/CA/Irvine/31-Sanctuary-92620/home/5959278

This one was re-listed this January and just sold for 1.350.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on February 27, 2015, 08:18:53 PM
Not only is this home overpriced by a good $200k, the seller is only offering 2% buyer's agent commission.  I guess the sellers want to walk away with some profit since they bought it for $1.278m.  haha

http://www.redfin.com/CA/Irvine/31-Sanctuary-92620/home/5959278

This one was re-listed this January and just sold for 1.350.
Winner winner chicken dinner, congrats.. you just responded to a post almost 5 years ago... I believe that's the record?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on February 27, 2015, 09:01:05 PM
Not only is this home overpriced by a good $200k, the seller is only offering 2% buyer's agent commission.  I guess the sellers want to walk away with some profit since they bought it for $1.278m.  haha

http://www.redfin.com/CA/Irvine/31-Sanctuary-92620/home/5959278

This one was re-listed this January and just sold for 1.350.
It was overpriced in 2010 just like I said it was.  It took the market running up 20-25% for them to get that price about 4.5 years later.  I think I was right.  haha
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Compressed-Village on February 27, 2015, 10:52:14 PM
Not only is this home overpriced by a good $200k, the seller is only offering 2% buyer's agent commission.  I guess the sellers want to walk away with some profit since they bought it for $1.278m.  haha

http://www.redfin.com/CA/Irvine/31-Sanctuary-92620/home/5959278

This one was re-listed this January and just sold for 1.350.
It was overpriced in 2010 just like I said it was.  It took the market running up 20-25% for them to get that price about 4.5 years later.  I think I was right.  haha

You know the market well. That's why I selectively chosen you to represents.  :)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: sharaabi on February 28, 2015, 07:25:50 PM
Not only is this home overpriced by a good $200k, the seller is only offering 2% buyer's agent commission.  I guess the sellers want to walk away with some profit since they bought it for $1.278m.  haha

http://www.redfin.com/CA/Irvine/31-Sanctuary-92620/home/5959278

This one was re-listed this January and just sold for 1.350.
It was overpriced in 2010 just like I said it was.  It took the market running up 20-25% for them to get that price about 4.5 years later.  I think I was right.  haha

Yes you were right, it took them quite some time to get the price they wanted.  It was well over priced back then.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: eyephone on March 03, 2015, 08:56:46 PM
Why is this seller wasting everyone's time with this listing?

https://www.redfin.com/CA/Irvine/127-Compass-92618/home/65023404

Over $500/sf at PP?  Come on, the seller paid $890k for the home back in Nov. 2013.  $1m?  Sure  $1.1m?  If they find the right buyer and they put in $$$ into the backyard.  But $1.3m is nuts.

Also, why of the 7 pictures, 6 of them are exterior shots of the house and/or of the community? And the one of the interior kitchen seems to maybe be the model? At least that's what it looks like to me, not being familiar with that model.

Hit a reload/refresh button, you will see there are 34 pictures.

Oh great - don't tell me this is your house Yaliu?

he is actually walking distance away from me.  if you go to his house and start to knock on his neighbor"S" door and you see a handsome/good looking/charming asian, that will be me.  :)

So what's up Yaliu, are you also going to sell your house? It's your chance to get away from the cemetery.  ;)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: aquabliss on March 03, 2015, 09:58:22 PM
If Yaliu can get $1.3M, he's outty.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Irvine Dream on March 11, 2015, 01:05:23 PM
We are now more than $500K above the previous bubble price

https://www.redfin.com/CA/Irvine/31-Pacific-Grv-92602/home/5771980
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: eyephone on March 11, 2015, 01:14:10 PM
If Yaliu can get $1.3M, he's outty.

Yaliu list for $1.2 and move to HC.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: nyc to oc on March 11, 2015, 02:24:27 PM
We are now more than $500K above the previous bubble price

https://www.redfin.com/CA/Irvine/31-Pacific-Grv-92602/home/5771980

Too bad its at a T intersection. They're never gonna get a chinese FCB that way, and who else would overpay by that much?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: lnc on March 11, 2015, 07:25:16 PM
We are now more than $500K above the previous bubble price

https://www.redfin.com/CA/Irvine/31-Pacific-Grv-92602/home/5771980

Too bad its at a T intersection. They're never gonna get a chinese FCB that way, and who else would overpay by that much?

One of these days, the appraiser will take feng shui rules into account and appraise the home accordingly.

T intersection: deduct $25k
Close to cemetery: deduct $250k
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: eyephone on March 11, 2015, 07:39:55 PM
We are now more than $500K above the previous bubble price

https://www.redfin.com/CA/Irvine/31-Pacific-Grv-92602/home/5771980

Too bad its at a T intersection. They're never gonna get a chinese FCB that way, and who else would overpay by that much?

One of these days, the appraiser will take feng shui rules into account and appraise the home accordingly.

T intersection: deduct $25k
Close to cemetery: deduct $250k

That's why sell now, since the cemetery isn't built yet.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on March 11, 2015, 08:07:32 PM
If this home sells for over $500/sq ft, I'm selling mine too!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: woodburyowner on March 19, 2015, 11:41:16 AM
https://www.redfin.com/CA/Irvine/34-Lily-Pool-92620/home/5931035

Property actually closed for asking price!  Over 500k gain since the previous peak price in 2005.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: rkp on March 19, 2015, 11:56:49 AM
https://www.redfin.com/CA/Irvine/34-Lily-Pool-92620/home/5931035

Property actually closed for asking price!  Over 500k gain since the previous peak price in 2005.

please be accurate.  the buyer was a tough negotiator and they got a discount of $888. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on March 19, 2015, 12:03:37 PM
Close to cemetery: deduct $250k
Not sure if ghosts affects feng shui-ness.

Paging IHS...
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Paris on March 19, 2015, 06:28:20 PM
Close to cemetery: deduct $250k
Not sure if ghosts affects feng shui-ness.

Paging IHS...

congrats IHO - you are the 1000th reply on this thread  :)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: lnc on March 19, 2015, 06:39:26 PM
congrats IHO - you are the 1000th reply on this thread  :)

So is there any prizes? :)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: aquabliss on March 30, 2015, 07:46:23 AM
Why is this seller wasting everyone's time with this listing?

https://www.redfin.com/CA/Irvine/127-Compass-92618/home/65023404

Over $500/sf at PP?  Come on, the seller paid $890k for the home back in Nov. 2013.  $1m?  Sure  $1.1m?  If they find the right buyer and they put in $$$ into the backyard.  But $1.3m is nuts.

$150k price drop.  Looks like reality has set in.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: . on March 30, 2015, 08:10:29 AM
https://www.redfin.com/CA/Irvine/116-Fieldwood-92618/home/51682535

asking 333K over the original price

Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Soylent Green Is People on March 30, 2015, 10:49:36 AM
$333k over asking price? Pfffft - amateurs.

https://www.redfin.com/CA/San-Francisco/1644-Great-Hwy-94122/home/635970 (https://www.redfin.com/CA/San-Francisco/1644-Great-Hwy-94122/home/635970)

$411k over asking. Yes, it's ocean front, but it's simply "lot value". Can't build anything on it that could possibly recoup current selliing price.

My .02c
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: aquabliss on March 30, 2015, 11:36:43 AM
https://www.redfin.com/CA/Irvine/116-Fieldwood-92618/home/51682535

asking 333K over the original price



This price is not outrageous, I think it will sell for close to this. 

Good/quiet location, decent upgrades and a 6,200 sq ft lot. 

Closing in November 2013 they were probably Phase 1 buyers.  I looked at Phase 2 Rosemist and I think Plan 2 starting (which I believe this is) was about $1.15M so they had already increased quite a bit from this buyers closing price.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on March 30, 2015, 11:37:40 AM
Dang... I can flip my PP and get a proper 3CWG.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on March 30, 2015, 12:39:17 PM
https://www.redfin.com/CA/Irvine/116-Fieldwood-92618/home/51682535

asking 333K over the original price



This price is not outrageous, I think it will sell for close to this. 

Good/quiet location, decent upgrades and a 6,200 sq ft lot. 

Closing in November 2013 they were probably Phase 1 buyers.  I looked at Phase 2 Rosemist and I think Plan 2 starting (which I believe this is) was about $1.15M so they had already increased quite a bit from this buyers closing price.

Agree.  Not crazy at all.  Considering this one is in escrow @ $517PSF

https://www.redfin.com/CA/Irvine/Undisclosed-address-92618/home/51683000
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on March 31, 2015, 11:32:32 PM
Why is this seller wasting everyone's time with this listing?

https://www.redfin.com/CA/Irvine/127-Compass-92618/home/65023404

Over $500/sf at PP?  Come on, the seller paid $890k for the home back in Nov. 2013.  $1m?  Sure  $1.1m?  If they find the right buyer and they put in $$$ into the backyard.  But $1.3m is nuts.

$150k price drop.  Looks like reality has set in.
They still have another $100k +/- to go....
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on March 31, 2015, 11:33:45 PM
https://www.redfin.com/CA/Irvine/116-Fieldwood-92618/home/51682535

asking 333K over the original price


At least this seller did their landscaping.  haha
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on March 31, 2015, 11:36:56 PM
https://www.redfin.com/CA/Irvine/116-Fieldwood-92618/home/51682535

asking 333K over the original price



This price is not outrageous, I think it will sell for close to this. 

Good/quiet location, decent upgrades and a 6,200 sq ft lot. 

Closing in November 2013 they were probably Phase 1 buyers.  I looked at Phase 2 Rosemist and I think Plan 2 starting (which I believe this is) was about $1.15M so they had already increased quite a bit from this buyers closing price.

Agree.  Not crazy at all.  Considering this one is in escrow @ $517PSF

https://www.redfin.com/CA/Irvine/Undisclosed-address-92618/home/51683000
That's been listed at that price since Nov....I'll bet you it sells for under $500/sf.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: happios on April 03, 2015, 07:07:39 AM
Here's a lovely 3103 sq ft home sold recently in Irvine for $10.15 million.  That's $3271/sq ft.
Seller must have found a gullible fcb

http://goo.gl/8aSBhF

I suspect there's an extra '0' in the price somewhere :D
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: happios on April 03, 2015, 09:46:45 PM
Looks like Redfin fixed the price...
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on April 18, 2015, 02:58:05 PM
Despite the fact that they are including all of the furniture and appliances, this seller is smoking a little crack thinking they can get get $839k for an ATTACHED version of San Mateo which doesn't even sell for $800k.  Why waste everyone's time?

https://www.redfin.com/CA/Irvine/193-Overbrook-92620/home/77166037
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: aquabliss on April 18, 2015, 10:53:40 PM
Despite the fact that they are including all of the furniture and appliances, this seller is smoking a little crack thinking they can get get $839k for an ATTACHED version of San Mateo which doesn't even sell for $800k.  Why waste everyone's time?

https://www.redfin.com/CA/Irvine/193-Overbrook-92620/home/77166037

Mei-Ling Tao started the description with "To see is to believe!!" so please go see and perhaps you will believe.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: USCTrojanCPA on April 19, 2015, 01:02:22 PM
Despite the fact that they are including all of the furniture and appliances, this seller is smoking a little crack thinking they can get get $839k for an ATTACHED version of San Mateo which doesn't even sell for $800k.  Why waste everyone's time?

https://www.redfin.com/CA/Irvine/193-Overbrook-92620/home/77166037

Mei-Ling Tao started the description with "To see is to believe!!" so please go see and perhaps you will believe.
I saw that too....I don't believe it already.  haha
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: aquabliss on April 20, 2015, 12:57:19 AM
This one went pending 2488 sq ft asking $1.348M.  Can't pfind it on Redfin, must not have been on MLS which is odd.
http://www.deliachin.com/Irvine_CA_listings/F1EF29E5-0EA2-B751-B431E2661FAA86AC.shtml#

Does carry a premium since it is single story.  Pretty sure the pictures in the listing are from the model not the house for sale.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: nyc to oc on May 01, 2015, 12:41:30 PM
https://www.redfin.com/CA/Irvine/55-Gentry-92620/home/5950631

Asking 130K over sale price from 1 year ago. presumably with no changes/improvements since then, since the realtor has lifted some old photos from the previous listing, and adds in some prime photos of his own of multiple toilets with the seats up and toilet brush in the background. Love it.


Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: aquabliss on May 01, 2015, 01:38:31 PM
https://www.redfin.com/CA/Irvine/55-Gentry-92620/home/5950631

Asking 130K over sale price from 1 year ago. presumably with no changes/improvements since then, since the realtor has lifted some old photos from the previous listing, and adds in some prime photos of his own of multiple toilets with the seats up and toilet brush in the background. Love it.


I don't see what the problem is.  Looks like a $1.3M house to me:
(http://i57.tinypic.com/2s65yqo.jpg)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Irvine Fanatic on May 01, 2015, 01:52:24 PM
https://www.redfin.com/CA/Irvine/55-Gentry-92620/home/5950631

Asking 130K over sale price from 1 year ago. presumably with no changes/improvements since then, since the realtor has lifted some old photos from the previous listing, and adds in some prime photos of his own of multiple toilets with the seats up and toilet brush in the background. Love it.

Acceptable pricing.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: nyc to oc on May 01, 2015, 02:01:17 PM
https://www.redfin.com/CA/Irvine/55-Gentry-92620/home/5950631

Asking 130K over sale price from 1 year ago. presumably with no changes/improvements since then, since the realtor has lifted some old photos from the previous listing, and adds in some prime photos of his own of multiple toilets with the seats up and toilet brush in the background. Love it.

Acceptable pricing.

you think so? OK, maybe its just the overall crappiness of the photos then...maybe those sellers should've gone with one of the more established realtors in Woodbury who actually know how to market a property.

But in general, I've been seeing more listings lately where buyers from the last 1-2 years are trying to sell for 200-300K, or even more than they bought for. If that's acceptable pricing without any improvements, then to me that smells like a bubble in the brewing...

Check out this one in Turtle Rock:

Sold for 1.482M in October 2013,
now on the market for 1.88M since March. Simultaneously on the market for rent.
Same photos as from the previous listing.

https://www.redfin.com/CA/Irvine/15-Rippling-Strm-92603/home/4742605

This trend is not confined to Irvine.

Check out this place in Tustin Ranch:
$1.5M in Sept 2013, asking $1.8 now. no changes. you can tell since the photos from the prior listing are still up.

https://www.redfin.com/CA/Tustin/2175-Palmer-Pl-92782/home/4758532

Makes me wonder if now is really a good time to buy a house...
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Irvine Dream on May 01, 2015, 02:12:22 PM
https://www.redfin.com/CA/Irvine/55-Gentry-92620/home/5950631

Asking 130K over sale price from 1 year ago. presumably with no changes/improvements since then, since the realtor has lifted some old photos from the previous listing, and adds in some prime photos of his own of multiple toilets with the seats up and toilet brush in the background. Love it.


I don't see what the problem is.  Looks like a $1.3M house to me:
(http://i57.tinypic.com/2s65yqo.jpg)
That picture was intentional I think.  they wanted to show the bidet/water attachment to the toilet so you know you can wash your b*** after doing No.2 :'(
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on May 01, 2015, 02:16:28 PM
That bidet attachment makes the bowl opening so small.  And looks like the tubing connecting to the water supply is not steel braided.  And you'll have to remove it before the inspector sees it, none of them are code in CA
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: qwerty on May 01, 2015, 02:31:41 PM
ive never used a bidet, it seems like it would get water all over the place? More hassle than its worth? Although a clean but is priceless :-)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on May 01, 2015, 02:51:41 PM
That picture was intentional I think.  they wanted to show the bidet/water attachment to the toilet so you know you can wash your b*** after doing No.2 :'(
Trying to tempt ps9 for the week.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on May 01, 2015, 04:05:20 PM
ive never used a bidet, it seems like it would get water all over the place? More hassle than its worth? Although a clean but is priceless :-)

It's great for toilets not near faucets.  You can't get 99% clean with a dry rub.  Wetting your TP before wiping is the same concept.  As for messy use?  Make sure your butt is on it before turning it on, simple as that.

FYI, it's not code due to no backflow valve.  That means if your toilet backs up and the 'water' rises it can backflow into the bidet spigot (not much but possible) and contaminate potable water supply.  Even a little bit of poop water is still poop water.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on May 01, 2015, 05:22:24 PM
@ps9:

You are so Euro.

But you're not convincing me to get one of those. I'm okay with 97% clean.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Paris on May 01, 2015, 07:34:15 PM
Lol we have the ToTo Toilet/ bidet systems with heated seats, dryer and the whole works - we love them. Now it's hard to go back to a regular toilet.  :)
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: SoCal on May 01, 2015, 07:43:24 PM
Lol we have the ToTo Toilet/ bidet systems with heated seats, dryer and the whole works - we love them. Now it's hard to go back to a regular toilet.  :)

Good to know. I am seriously considering installing that into at least two of our bathrooms. I'm 110% interested. But my husband, close to zero. Iirc, I think they said we'd have to run a circuit. But I'm alright with that if the results are worth it. And it sounds like it is. I was sort of concerned about putting one downstairs because I'm not sure how (non-overnight) guests would respond to it. What do you tell a person who is visiting for the first time... give them a tutorial or is there an option to shut it off for them?
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: SoCal on May 01, 2015, 07:45:32 PM
Gonna send you a PM because it's not for men's eyes. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: SoCal on May 01, 2015, 08:43:19 PM
@ps9:

You are so Euro.

But you're not convincing me to get one of those. I'm okay with 97% clean.

What is it with guys?

Wow, "97%" clean. Hey, that's so clean that you could turn your underwear inside-out and just wear them again the next day.

...Not!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Paris on May 02, 2015, 09:37:04 AM
Lol we have the ToTo Toilet/ bidet systems with heated seats, dryer and the whole works - we love them. Now it's hard to go back to a regular toilet.  :)

Good to know. I am seriously considering installing that into at least two of our bathrooms. I'm 110% interested. But my husband, close to zero. Iirc, I think they said we'd have to run a circuit. But I'm alright with that if the results are worth it. And it sounds like it is. I was sort of concerned about putting one downstairs because I'm not sure how (non-overnight) guests would respond to it. What do you tell a person who is visiting for the first time... give them a tutorial or is there an option to shut it off for them?

Oh and SoCal the controller is installed next to the toilet so your guests can choose to use it or not. It's always nice to have the option. Plus it provides heated seats and some also automatically open the toilet seat when you enter into the bathroom. I love ToTo
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: happios on May 03, 2015, 06:43:04 PM
In my last home I had a couple of these installed.  I don't think any of my guests used it but some had asked about it.
Besides the heated seat, the water is also heated.  However, the dryer part of the bidet is not too effective.   Having ocd, unfortunately, means that being 99% clean is pretty important!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on May 11, 2015, 07:31:25 PM
https://www.redfin.com/CA/Irvine/122-Fieldwood-92618/home/51682477

Plan 2 Sagewood with the super great room and conservatory build out.  At this price, it's more than the models that recently sold.  I'll buy in BP if this goes pending within a month at this price.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: bones on May 11, 2015, 07:37:46 PM
https://www.redfin.com/CA/Irvine/122-Fieldwood-92618/home/51682477

Plan 2 Sagewood with the super great room and conservatory build out.  At this price, it's more than the models that recently sold.  I'll buy in BP if this goes pending within a month at this price.

A plan 2 supposedly closed last month at $1.46m. No landscaping. I'm guessing these guys are using that one as the comp.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: ps9 on May 11, 2015, 08:13:46 PM
https://www.redfin.com/CA/Irvine/145-Cardinal-92618/home/51683000

That's some nice appreciation in 1 short little year.  Good time to get rid of your PP home to avoid the BP competiton in a few months. 
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: irvinehomeowner on May 11, 2015, 09:34:47 PM
Dang... bones trying to cash in.

j/k!
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: aquabliss on May 11, 2015, 10:50:28 PM
https://www.redfin.com/CA/Irvine/122-Fieldwood-92618/home/51682477

Plan 2 Sagewood with the super great room and conservatory build out.  At this price, it's more than the models that recently sold.  I'll buy in BP if this goes pending within a month at this price.

This guy Ming Hu seems to have the market cornered on listing all these large size PP homes.
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: Irvine Dream on May 20, 2015, 04:55:46 PM
North Parks poor step sister North Park Square is taking off now.
https://www.redfin.com/CA/Irvine/1-Dos-Rios-92602/home/5858991

Qwerty, hope one day Columbus Square also will come up to par with other listing and make you lots of money ;D
Title: Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
Post by: qwerty on May 20, 2015, 05:41:37 PM
North Parks poor step sister North Park Square is taking off now.
https://www.redfin.com/CA/Irvine/1-Dos-Rios-92602/home/5858991

Qwerty, hope one day Columbus Square also will come u