Author Topic: Newer Irvine listings with crazy WTF asking prices from equity sellers  (Read 1705149 times)

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Offline USCTrojanCPA

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #2895 on: May 08, 2021, 10:02:07 AM »
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

The single level 121 Pewter home went pending in 1 day at the 1.68 Million price!  Back in Nov-Dec of last year, the single level SFR build by KB Homes (Napa) was selling at 1.4 million. I considered making an offer, but didn't pull the trigger...and in 4 months look a similar plan in contract for close to 300K more!! The person who bought https://www.redfin.com/CA/Irvine/100-Frontier-92602/home/174655184 (similar to 121 pewter) already made instant equity I guess.
I guess I never saw the insane price hike  coming so quickly...

121 Pewter sold for 1.75 Million!!

That is pretty crazy...over $850/sf.
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Offline Irvinehomeseeker

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #2896 on: May 08, 2021, 10:08:33 AM »
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

The single level 121 Pewter home went pending in 1 day at the 1.68 Million price!  Back in Nov-Dec of last year, the single level SFR build by KB Homes (Napa) was selling at 1.4 million. I considered making an offer, but didn't pull the trigger...and in 4 months look a similar plan in contract for close to 300K more!! The person who bought https://www.redfin.com/CA/Irvine/100-Frontier-92602/home/174655184 (similar to 121 pewter) already made instant equity I guess.
I guess I never saw the insane price hike  coming so quickly...

121 Pewter sold for 1.75 Million!!

That is pretty crazy...over $850/sf.

I kicking myself for not acting on the Napa single level home late last year when it was available! i would made atleast 300K in equity when builder was trying to sell for 1.4 million. I was not sure about the value or appeal of single level homes...missed opportunity!

Offline USCTrojanCPA

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #2897 on: May 08, 2021, 10:13:28 AM »
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

The single level 121 Pewter home went pending in 1 day at the 1.68 Million price!  Back in Nov-Dec of last year, the single level SFR build by KB Homes (Napa) was selling at 1.4 million. I considered making an offer, but didn't pull the trigger...and in 4 months look a similar plan in contract for close to 300K more!! The person who bought https://www.redfin.com/CA/Irvine/100-Frontier-92602/home/174655184 (similar to 121 pewter) already made instant equity I guess.
I guess I never saw the insane price hike  coming so quickly...

121 Pewter sold for 1.75 Million!!

That is pretty crazy...over $850/sf.

I kicking myself for not acting on the Napa single level home late last year when it was available! i would made atleast 300K in equity when builder was trying to sell for 1.4 million. I was not sure about the value or appeal of single level homes...missed opportunity!

The appreciation is surprising but single story homes tend to be very desirable and prices are high on them because so few of them are built nowadays.
Martin Mania, CPA
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CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

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

Offline Irvinehomeseeker

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #2898 on: May 08, 2021, 12:07:09 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

The single level 121 Pewter home went pending in 1 day at the 1.68 Million price!  Back in Nov-Dec of last year, the single level SFR build by KB Homes (Napa) was selling at 1.4 million. I considered making an offer, but didn't pull the trigger...and in 4 months look a similar plan in contract for close to 300K more!! The person who bought https://www.redfin.com/CA/Irvine/100-Frontier-92602/home/174655184 (similar to 121 pewter) already made instant equity I guess.
I guess I never saw the insane price hike  coming so quickly...

121 Pewter sold for 1.75 Million!!

That is pretty crazy...over $850/sf.

I kicking myself for not acting on the Napa single level home late last year when it was available! i would made atleast 300K in equity when builder was trying to sell for 1.4 million. I was not sure about the value or appeal of single level homes...missed opportunity!

The appreciation is surprising but single story homes tend to be very desirable and prices are high on them because so few of them are built nowadays.

Right! Compared to all the two level homes, this single levek did not seem to have much curb appeal to me at that time. Agree on how rare they are now.


Offline USCTrojanCPA

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #2903 on: May 21, 2021, 10:27:52 AM »
But what's interesting to me is the price increase in Irvine seems to be less compared to a few other cities that I keep tabs on (in terms of % gain)

I think areas outside of Irvine in the surrounding areas are now playing catch-up since their price appreciation has seriously lagged Irvine's since 2010.

From an investment % gain basis, Irvine is the best place to buy in OC. Anaheim, Garden Grove, Santa Ana, Newport Coast, ect ect are much better. The one advantage Irvine had, which you could debate it no longer does over many areas, was in the lower risk of your investment

Lot's of people begrudgingly agree with me that the rest of OC is kicking Irvine's a$$.  The only point I've made since 2018 is that Irvine, maybe up until very recently, was stuck in neutral and that achieving MaxROI meant buying in a different part of OC.

Offline USCTrojanCPA

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #2904 on: May 21, 2021, 12:13:16 PM »
But what's interesting to me is the price increase in Irvine seems to be less compared to a few other cities that I keep tabs on (in terms of % gain)

I think areas outside of Irvine in the surrounding areas are now playing catch-up since their price appreciation has seriously lagged Irvine's since 2010.

From an investment % gain basis, Irvine is the best place to buy in OC. Anaheim, Garden Grove, Santa Ana, Newport Coast, ect ect are much better. The one advantage Irvine had, which you could debate it no longer does over many areas, was in the lower risk of your investment

Lot's of people begrudgingly agree with me that the rest of OC is kicking Irvine's a$$.  The only point I've made since 2018 is that Irvine, maybe up until very recently, was stuck in neutral and that achieving MaxROI meant buying in a different part of OC.

The rest of OC is playing catch mainly driven for the big demand for detached homes with yards.  As I said, the demand for those homes is EVERYWHERE not just Orange County.
Martin Mania, CPA
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Offline USCTrojanCPA

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #2905 on: May 21, 2021, 12:46:49 PM »
Almost $1.5m for an attached condo with an HOA close to $400/mo?  Ummm, this is highly optimist even in this market.

https://www.redfin.com/CA/Irvine/107-Vermillion-92603/home/5945929
Martin Mania, CPA
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Offline irviniteeee

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #2906 on: May 21, 2021, 09:41:56 PM »
Almost $1.5m for an attached condo with an HOA close to $400/mo?  Ummm, this is highly optimist even in this market.

https://www.redfin.com/CA/Irvine/107-Vermillion-92603/home/5945929

Ridiculous, but I'm sure someone will be a sucker and pay up. I'm seeing townhomes under 2k square feet in Cypress Village going for 1.1 so who knows what will happen.

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #2907 on: June 01, 2021, 04:11:45 PM »
Well it looks like someone else in Sandalwood wanted to join in on the fun. Same plan, but even more!

https://www.redfin.com/CA/Irvine/207-Tuberose-92603/home/5918084

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Offline USCTrojanCPA

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #2908 on: June 01, 2021, 07:18:39 PM »
Well it looks like someone else in Sandalwood wanted to join in on the fun. Same plan, but even more!

https://www.redfin.com/CA/Irvine/207-Tuberose-92603/home/5918084

Sure why not, the more the merrier.  haha
Martin Mania, CPA
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Offline aquabliss

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #2909 on: June 17, 2021, 09:39:44 AM »
Thought this was one of the nicest (non model) back yards I had seen in quite some time.  Wonder if the small pool in front is a huge hot tub, or just a fountain?
https://www.redfin.com/CA/Irvine/110-Heavenly-92602/home/112721738

But then, I looked at the ariel/drone view shot and the pool of the house next door looks even better!

 

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