Author Topic: Newer Irvine listings with crazy WTF asking prices from equity sellers  (Read 1900098 times)

Offline USCTrojanCPA

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Courtyard condo that backs against Portola Spring just sold for $2,050,000k, $400k over LP. House doesnt have that much upgrade. This is really WTF crazy. ;D

https://www.redfin.com/CA/Irvine/238-Desert-Bloom-92618/home/51684578?600390594=copy_variant&231528114=control&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet

That flooring is horrible, needs to be scrapped.  Easy answer why...lack of inventory.
That's like 25% over list price! I get the lack of inventory but  wonder the buyers psychology when they go to this extend to bit up prices. I don't think first time buyers are bidding up like this in Irvine or are they able? I can only think of move up buyers who are able to sell their existing homes at high returns today to be able to bid up like this. Or, the fear of missing out.

There is a  serious lack of inventory so many buyers are getting desperate and are bidding over comps, I'm seeing a lot of FOMO/desperation in the bidding in the past few months.  Most Irvine buyers are very strong financially so they can swing these higher prices.
Martin Mania, CPA
AgencyOne
CA DRE License # 01799007
CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

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