Author Topic: Newer Irvine listings with crazy WTF asking prices from equity sellers  (Read 1705162 times)

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Offline irvineboy

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Offline irviniteeee

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #2836 on: April 03, 2021, 06:00:36 PM »
Holy heck.  I know OH3 prices are high but you can get this for the same price.

https://www.redfin.com/CA/Irvine/114-Clear-Fls-92602/home/143911336?utm_source=ios_share&utm_medium=share&utm_campaign=copy_link&utm_nooverride=1&utm_content=link

Saw that and thought the same thing as well. I'm just really trying to understand what's drawing people to the Reserve once you get up to 2M+. Is it because a lot more homes have views there? The Groves is just so much more appealing to me. You have better home designs and more square footage in the Groves for the price. Maybe somebody has some insight.

Offline Dr. CA Real Estate

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #2837 on: April 03, 2021, 06:24:34 PM »
Holy heck.  I know OH3 prices are high but you can get this for the same price.

https://www.redfin.com/CA/Irvine/114-Clear-Fls-92602/home/143911336?utm_source=ios_share&utm_medium=share&utm_campaign=copy_link&utm_nooverride=1&utm_content=link

Saw that and thought the same thing as well. I'm just really trying to understand what's drawing people to the Reserve once you get up to 2M+. Is it because a lot more homes have views there? The Groves is just so much more appealing to me. You have better home designs and more square footage in the Groves for the price. Maybe somebody has some insight.

IP marketing
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Offline trematix

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #2838 on: April 05, 2021, 05:15:37 PM »
Holy heck.  I know OH3 prices are high but you can get this for the same price.

https://www.redfin.com/CA/Irvine/114-Clear-Fls-92602/home/143911336?utm_source=ios_share&utm_medium=share&utm_campaign=copy_link&utm_nooverride=1&utm_content=link

Saw that and thought the same thing as well. I'm just really trying to understand what's drawing people to the Reserve once you get up to 2M+. Is it because a lot more homes have views there? The Groves is just so much more appealing to me. You have better home designs and more square footage in the Groves for the price. Maybe somebody has some insight.

IP marketing

Also the school district. People put a value on that. Reserve is IUSD. Groves is zoned to TUSD

Offline newOC

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #2839 on: April 05, 2021, 07:42:52 PM »
Holy heck.  I know OH3 prices are high but you can get this for the same price.

https://www.redfin.com/CA/Irvine/114-Clear-Fls-92602/home/143911336?utm_source=ios_share&utm_medium=share&utm_campaign=copy_link&utm_nooverride=1&utm_content=link

Saw that and thought the same thing as well. I'm just really trying to understand what's drawing people to the Reserve once you get up to 2M+. Is it because a lot more homes have views there? The Groves is just so much more appealing to me. You have better home designs and more square footage in the Groves for the price. Maybe somebody has some insight.

IP marketing

Also the school district. People put a value on that. Reserve is IUSD. Groves is zoned to TUSD

And that Irvine marketing tricks some people into thinking there’s a difference. Beckman high is as good as any iusd school. In fact it’s in Irvine LOL

Offline talkirvine

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #2840 on: April 07, 2021, 02:44:06 PM »
Holy heck.  I know OH3 prices are high but you can get this for the same price.

https://www.redfin.com/CA/Irvine/114-Clear-Fls-92602/home/143911336?utm_source=ios_share&utm_medium=share&utm_campaign=copy_link&utm_nooverride=1&utm_content=link

Saw that and thought the same thing as well. I'm just really trying to understand what's drawing people to the Reserve once you get up to 2M+. Is it because a lot more homes have views there? The Groves is just so much more appealing to me. You have better home designs and more square footage in the Groves for the price. Maybe somebody has some insight.

IP marketing

Also the school district. People put a value on that. Reserve is IUSD. Groves is zoned to TUSD

And that Irvine marketing tricks some people into thinking there’s a difference. Beckman high is as good as any iusd school. In fact it’s in Irvine LOL

The name of Beckman sounds very high-end and prestigious.

Offline Irvinehomeseeker

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #2841 on: April 15, 2021, 04:18:06 PM »
Are prices really this crazy high today  - 1.68 Mill for a SFR in Eastwood:
https://www.redfin.com/CA/Irvine/121-Pewter-92620/home/112724022

Late last year, the singe level new construction from KB homes (NAPA) was sitting for months together and went for around 1.45 million earlier this year. I feel like passed up some good SFR opportunities now.

And this Delano attached Condo for 1.2 Million? Granted it has some furniture in it, but still 1.2M for attached Condo?
https://www.redfin.com/CA/Irvine/60-Parkwood-92602/home/174923119

Offline lovingit

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #2842 on: April 15, 2021, 10:48:41 PM »
I noticed a lot of these wtf listings are listed by Chinese agents.  Do they eventually sell for asking or are these agents unaware of market?

Offline USCTrojanCPA

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #2843 on: April 15, 2021, 10:57:23 PM »
I noticed a lot of these wtf listings are listed by Chinese agents.  Do they eventually sell for asking or are these agents unaware of market?

They have unmotivated sellers who own the homes outright so they can be a little stubborn.
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Offline Cares

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #2844 on: April 17, 2021, 08:51:38 AM »
Like USC said, unmotivated sellers but willing to sell if a certain price is obtained. I had a listing for someone that owned their home outright and kept it vacant because they don't want to deal with renters. Most of these owners are financially savvy to be in the position they are in. They know that their holding costs are lower than home appreciation so they are willing to wait for the right price.

Offline HMart

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #2845 on: April 19, 2021, 12:34:55 PM »
Like USC said, unmotivated sellers but willing to sell if a certain price is obtained. I had a listing for someone that owned their home outright and kept it vacant because they don't want to deal with renters. Most of these owners are financially savvy to be in the position they are in. They know that their holding costs are lower than home appreciation so they are willing to wait for the right price.

Dang, I can't imagine being rich enough to keep a $1m+ home vacant for lack of wanting to deal with renters.

Offline lovingit

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #2846 on: April 21, 2021, 10:30:51 AM »
Like USC said, unmotivated sellers but willing to sell if a certain price is obtained. I had a listing for someone that owned their home outright and kept it vacant because they don't want to deal with renters. Most of these owners are financially savvy to be in the position they are in. They know that their holding costs are lower than home appreciation so they are willing to wait for the right price.

Dang, I can't imagine being rich enough to keep a $1m+ home vacant for lack of wanting to deal with renters.

Imagine the $4m+ homes that are vacant in the Groves and Hidden Canyon.

Offline Cares

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #2847 on: April 21, 2021, 11:04:01 AM »
Like USC said, unmotivated sellers but willing to sell if a certain price is obtained. I had a listing for someone that owned their home outright and kept it vacant because they don't want to deal with renters. Most of these owners are financially savvy to be in the position they are in. They know that their holding costs are lower than home appreciation so they are willing to wait for the right price.

Dang, I can't imagine being rich enough to keep a $1m+ home vacant for lack of wanting to deal with renters.

If you bought a $1M home in cash, your annual holding cost at most is $15k. Irvine homes are appreciating much faster than that. Granted this last year may be an outlier but a $950k 4BR detached condo from 2 years ago is selling nearly +$200k for an annualized $100k appreciation. $1.2M 4BR SFR are selling $1.4M.

To these people it is like putting money into a savings account and earning interest.

Offline Irvinehomeseeker

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #2848 on: April 22, 2021, 11:00:20 AM »
Eastwood Helena listed for 1.15 Million. Unless there is some gold buried in the lot, can't say what justifies this insane price for an attached condo :)

https://www.redfin.com/CA/Irvine/156-Barrow-92602/home/167403813

Offline USCTrojanCPA

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #2849 on: April 22, 2021, 03:00:40 PM »
Not Irvine but this one was so crazy that I had to post it here...

https://www.redfin.com/CA/Lake-Forest/102-Fuchsia-92630/home/110277846

The listing agent must be confused thinking that this is a 4bed 2,200sf+ home in Baker Ranch.  haha
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