Author Topic: Newer Irvine listings with crazy WTF asking prices from equity sellers  (Read 1742457 times)

0 Members and 5 Guests are viewing this topic.

Online USCTrojanCPA

  • Your CPA Realtor
  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 2660
  • -Received: 2131
  • Posts: 10481
  • Gender: Male
Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3075 on: October 17, 2021, 11:29:05 AM »
Anyone know what tract this is? Builder is KB.  Was trying to see what the floor plan looks like



$2.3M view lot in PS with no landscaping... over under days on market?
https://www.redfin.com/CA/IRVINE/127-CHRONOLOGY-92618/home/143909502

That might be one of the best lots in that area of Portola Springs...5000+ sq ft, view lot (no house behind), only have a neighbor on one side, sits next to a small green belt w/ bench looking out on the view (I was there once when checking out this neighborhood).

> $700/sq ft though...will be interesting to see how long this one lasts.

Given the lack of inventory, it will most likely sell for over list price.

Elderberry.
Martin Mania, CPA
AgencyOne
CA DRE License # 01799007
CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!
Have license, will travel!

Offline bones

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 212
  • -Received: 1181
  • Posts: 4772
Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3076 on: October 17, 2021, 11:54:46 AM »
Anyone know what tract this is? Builder is KB.  Was trying to see what the floor plan looks like



$2.3M view lot in PS with no landscaping... over under days on market?
https://www.redfin.com/CA/IRVINE/127-CHRONOLOGY-92618/home/143909502

That might be one of the best lots in that area of Portola Springs...5000+ sq ft, view lot (no house behind), only have a neighbor on one side, sits next to a small green belt w/ bench looking out on the view (I was there once when checking out this neighborhood).

> $700/sq ft though...will be interesting to see how long this one lasts.

Given the lack of inventory, it will most likely sell for over list price.

Elderberry.

Def looks like a KB house. The master bedroom view window. The $2.2m money shot has paint all over the frame and painters tape stuck in the sill. The pantry stove/microwave was also an odd choice.

Offline CalBears96

  • O.C. Resident
  • ***
  • Thanks
  • -Given: 12
  • -Received: 38
  • Posts: 528
Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3077 on: October 17, 2021, 12:18:21 PM »
Anyone know what tract this is? Builder is KB.  Was trying to see what the floor plan looks like



$2.3M view lot in PS with no landscaping... over under days on market?
https://www.redfin.com/CA/IRVINE/127-CHRONOLOGY-92618/home/143909502

That might be one of the best lots in that area of Portola Springs...5000+ sq ft, view lot (no house behind), only have a neighbor on one side, sits next to a small green belt w/ bench looking out on the view (I was there once when checking out this neighborhood).

> $700/sq ft though...will be interesting to see how long this one lasts.

Given the lack of inventory, it will most likely sell for over list price.

Elderberry.

Def looks like a KB house. The master bedroom view window. The $2.2m money shot has paint all over the frame and painters tape stuck in the sill. The pantry stove/microwave was also an odd choice.

Also, the HOA is $139. My brother-in-law looked at Elderberry and Highland last year. Almost bought Elderberry because HOA was $139, compared to $254 at Highland.

Offline Soylent Green Is People

  • Abiding Dude. Housing focused NMLS Licensed
  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 1065
  • -Received: 1232
  • Posts: 2650
  • Gender: Male
  • Isaiah 58: 6-11
Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3078 on: October 17, 2021, 02:10:33 PM »
Has to be KB given the cheap-o cabinets in the photos. $2.2m for what looks like an IKEA instal. I guess if your 1.5 investment can net a 2.2 sale after 2 years the quality level of cabinets were of little concern.

My .02c
My .02c

SGIP

Offline akula1488

  • Yearning for 949 / 714
  • **
  • Thanks
  • -Given: 23
  • -Received: 31
  • Posts: 266
Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3079 on: October 17, 2021, 06:23:06 PM »
2.2M for a KB home? Ouch.

Offline AW

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 46
  • -Received: 172
  • Posts: 1765
Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3080 on: October 17, 2021, 06:51:01 PM »
2.2M for a KB home? Ouch.

Isn’t the KB in OH listed for > $3m?

Offline CalBears96

  • O.C. Resident
  • ***
  • Thanks
  • -Given: 12
  • -Received: 38
  • Posts: 528
Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3081 on: October 17, 2021, 07:20:47 PM »
2.2M for a KB home? Ouch.

Isn’t the KB in OH listed for > $3m?

Yes, they are. Starting at $3.2M.

Offline CLB_srA

  • Tourist
  • *
  • Thanks
  • -Given: 2
  • -Received: 0
  • Posts: 13
Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3082 on: October 18, 2021, 07:51:11 AM »
The interior on this house is pretty crazy, lots of work put in to all the accent walls with a mix of paint effects / wallpaper / marble tile.  It's a bit over the top but pretty nice and doesn't look cheap.
https://www.redfin.com/CA/Irvine/145-Tenor-92618/home/169475344

Also their video tour is really cool, great drone shots and interior panning with slow/fast movements - really well done.

Do you think it's reasonable for someone to subrent 2 of the rooms to like young adults for 1,500 a month? Or is there not even a market for that.

Offline CLB_srA

  • Tourist
  • *
  • Thanks
  • -Given: 2
  • -Received: 0
  • Posts: 13
Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3083 on: October 18, 2021, 08:01:11 AM »
The more euphoria, the more positive reinforcement of pricing should be higher is the same predicament of 2008 unwound.

The big difference now is you got both the FED and Democrat Congress gives the nod, not so the Republican. The fiscal cliff is ever so closer to a doom drop.


In the last real crash, it’s required just the FED that does the trick. Not so this time.


We are heading into abyss. Reality suck. I rather be paper rich, but realities, is what we must face……someday. In the meantime enjoy the condwich appreciation.

The dynamics of the previous run-up were totally different versus what is going on today.  There was a lot more speculation and flipping with very loose credit standards like NINJA loans.  Not the case this time around as you are fully underwritten by lenders today plus the demand is from buyers who want to live in the home (all but 2 of my buyers in the past year were looking to buy the home to live in it). You have the work-from-home movement, move-up buyers, first time home buyers, and vacation home buyers that are driving the market which is cause very low inventory everywhere.  As I always used to say, watch inventory levels as they will be your tell on where pricing is going.

This by far is the most vital statistic to me. You have buyers that bought a home as a shelters, rather than investors. By far the most stable path.

Blackrock realestate investments their REIT single family homes have balloons with and many other institutions investtors jump into residential realestate investing.

https://slate.com/business/2021/06/blackrock-invitation-houses-investment-firms-real-estate.html

I am certain that some level of homes in Irvine once hit MLS or even before hit listing have some form of influence of this. In turn drive up insane price. This can be good as long as they stay in the game and have a long view and long hold. Conversely, if institution buys, there is no emotions involve just numbers and just P&L then I know business is business. Keep it when it good, dump it when it sour.

I don't think institutional money is hitting the OC market, dare I say ever? There's 3 public ones and their 10k doesn't paint a picture OC fulfills.

Offline irvinehomeowner

  • The Unicorn Hunter
  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 2667
  • -Received: 4020
  • Posts: 23118
  • 3CWG
Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3084 on: October 18, 2021, 10:41:08 AM »
Ironic how these crazy prices are actually what people are paying.

I haven't been to a model home or open house in years... and now I'm afraid to go.
Once you go 3-car garage... your junk can never go back.
3CWG: 3-Car Wide Garage
FCB: Foreign Cash Buyer
I recommend:
www.irvinerealtorsite.com
member: Soylent Green Is People (loans/refis)

Offline aquabliss

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 220
  • -Received: 821
  • Posts: 4213
Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3085 on: October 25, 2021, 10:17:42 PM »
Ironic how these crazy prices are actually what people are paying.

I haven't been to a model home or open house in years... and now I'm afraid to go.

Haha ya I remember the days of free boba, tacos, cookies for Model home grand openings.  Bet we’ll never see those again.

Offline WTTCHMN

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 15
  • -Received: 333
  • Posts: 2089
Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3086 on: October 25, 2021, 11:10:20 PM »
Haha ya I remember the days of free boba, tacos, cookies for Model home grand openings.

And grilled cheese sliders!

Offline Compressed-Village

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 356
  • -Received: 281
  • Posts: 2180
Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3087 on: October 26, 2021, 11:12:55 AM »
On top of all that foods and drinks, gifts bags were given away with reusable shopping bags, sun screens, hat and t-shirts with builders logos on them.

These will be collectibles items now that they will never bring it back. Hold on to those and keep them in good conditions for trade later on. Oh, the madness then. Ha ha


Offline sleepy5136

  • Yearning for 949 / 714
  • **
  • Thanks
  • -Given: 4
  • -Received: 39
  • Posts: 466
Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3089 on: October 30, 2021, 03:24:04 PM »
https://www.redfin.com/CA/Irvine/99-Henson-92620/home/167401778?1280460695=variant&600390594=copy_variant&231528114=variant&1077477207=variant&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet?utm_medium=share&utm_source=web_share&utm_campaign=native_dialog

$1.3 for Delano.  Eastwood is a hot village people want to live at.

"This gorgeous 4 Bed / 3 Bath masterful residence is upgraded and sits on a premium large lot with no one next to you for a wide open feel. 99 Henson has large bedrooms and is a highly functional floor plan in the most popular enclave (Delano) of Eastwood Village built by master builder Brookfield Residential."

When you start hearing 1500 sqft is a large lot for a 1.3m home.... no comment...

 

Talk Irvine Links

[Recent Posts]
[FAQ / Rules]

Site Supporters


Recent Posts

Re: coronavirus by morekaos
[Today at 10:23:36 PM]


Re: coronavirus by eyephone
[Today at 10:21:24 PM]


Re: coronavirus by eyephone
[Today at 10:20:58 PM]


Re: coronavirus by eyephone
[Today at 10:20:34 PM]


Re: coronavirus by morekaos
[Today at 10:19:52 PM]

SimplePortal 2.3.7 © 2008-2021, SimplePortal