Author Topic: Newer Irvine listings with crazy WTF asking prices from equity sellers  (Read 1896765 times)

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Offline sleepy5136

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3255 on: December 30, 2021, 03:04:17 AM »
What’s crazy is my parents signed the psa and put a deposit for 151 Ingram when it was new construction. They backed out by the 3rd day saying it would make expenses too tight. Sad to say a missed opportunity…
No one expected this crazy price rise....i have backed out of new EW SFRs when they were at 1.05 Million thinking they would be too expensive for us to manage , only to realize the same ones are 1.6 Million now. Even the ones that I considered in late 2020, early 2021 are up to crazy in price. I bet none saw this coming.
exactly. but if one were to stay invested in the markets during the time up till now, I would argue you would be ahead and be able to buy the same property or a even better property depending on how well you invested.

Hmm I agree that’s true which I didn’t think about, however borrowing money for a home to me feels less risky than borrowing money to buy stocks
You don’t borrow. You instead use the down payment money to invest in the market. No need to borrow.

Offline trematix

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3256 on: December 30, 2021, 08:34:55 AM »
This isnt the first Genoa to sell. Just look a month ago, there was one that sold.

if they get 3 million+ for this, im sure theyll throw some grass on there to appease the HOA.

Fact of the matter is, new builds have been relisted within the 1 year mark and SOLD.



cant find the thread that mentioned you cant sell a new build within 1 year...you are in fact, wrong.

New build Genoa

https://www.redfin.com/CA/Irvine/74-Steeplechase-92602/home/177733260

It will be one year by the time home settles, but no way HOA will sign off on the sale without a finished yard.

Listing does not equate to a sale.

Offline Ready2Downsize

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3257 on: December 30, 2021, 08:52:51 AM »
This isnt the first Genoa to sell. Just look a month ago, there was one that sold.

if they get 3 million+ for this, im sure theyll throw some grass on there to appease the HOA.

Fact of the matter is, new builds have been relisted within the 1 year mark and SOLD.



cant find the thread that mentioned you cant sell a new build within 1 year...you are in fact, wrong.

New build Genoa

https://www.redfin.com/CA/Irvine/74-Steeplechase-92602/home/177733260

It will be one year by the time home settles, but no way HOA will sign off on the sale without a finished yard.

Listing does not equate to a sale.

I've never had the HOA "sign off" a resale I've done. Is that new?

Offline trematix

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3258 on: December 30, 2021, 09:24:50 AM »
Yea I’m shaking my head on that too. There have been numerous new build resales in GP and OH. Never knew hoa gets involved.


This isnt the first Genoa to sell. Just look a month ago, there was one that sold.

if they get 3 million+ for this, im sure theyll throw some grass on there to appease the HOA.

Fact of the matter is, new builds have been relisted within the 1 year mark and SOLD.



cant find the thread that mentioned you cant sell a new build within 1 year...you are in fact, wrong.

New build Genoa

https://www.redfin.com/CA/Irvine/74-Steeplechase-92602/home/177733260

It will be one year by the time home settles, but no way HOA will sign off on the sale without a finished yard.

Listing does not equate to a sale.

I've never had the HOA "sign off" a resale I've done. Is that new?

Offline foodisgood

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3259 on: December 30, 2021, 09:43:05 AM »
What’s crazy is my parents signed the psa and put a deposit for 151 Ingram when it was new construction. They backed out by the 3rd day saying it would make expenses too tight. Sad to say a missed opportunity…
No one expected this crazy price rise....i have backed out of new EW SFRs when they were at 1.05 Million thinking they would be too expensive for us to manage , only to realize the same ones are 1.6 Million now. Even the ones that I considered in late 2020, early 2021 are up to crazy in price. I bet none saw this coming.
exactly. but if one were to stay invested in the markets during the time up till now, I would argue you would be ahead and be able to buy the same property or a even better property depending on how well you invested.

Hmm I agree that’s true which I didn’t think about, however borrowing money for a home to me feels less risky than borrowing money to buy stocks
You don’t borrow. You instead use the down payment money to invest in the market. No need to borrow.

at the time they would have used their heloc for funding the down payment and purchase, not with extra cash lying around this is why it would be “too tight” and thus did not move forward

Offline BlackKnight

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Offline trematix

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3261 on: December 30, 2021, 12:37:07 PM »
Based on the recent sales for Stonegate and even Genoa, i cant wait to see what the first Cetara resale goes for...


How much you think this house in SG will go for? My guess is $2.25 mil

https://www.redfin.com/CA/Irvine/76-Haviland-92620/home/58556994?600390594=copy_variant&231528114=control&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet

Damn i am off by $10k…sold price is $2.60 mil  >:(

Offline zubs

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3262 on: December 30, 2021, 12:38:52 PM »
While I enjoy your boobs you have now unlocked Miss Cleo as your avatar.
Nice Job leveling up!  :)



Offline BlackKnight

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3263 on: December 30, 2021, 12:44:31 PM »
While I enjoy your boobs you have now unlocked Miss Cleo as your avatar.
Nice Job leveling up!  :)




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Offline CalBears96

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3264 on: December 30, 2021, 01:03:15 PM »
How much you think this house in SG will go for? My guess is $2.25 mil

https://www.redfin.com/CA/Irvine/76-Haviland-92620/home/58556994?600390594=copy_variant&231528114=control&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet

Damn i am off by $10k…sold price is $2.60 mil  >:(

How are you off by $10k? Sold price was $2.16M and you guessed $2.25M, so you're off by $90k. If sold price was $2.60M (as you mistakenly stated), then you would be off by $350k.

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Online TestingIrvine

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3266 on: December 30, 2021, 02:15:28 PM »
This isnt the first Genoa to sell. Just look a month ago, there was one that sold.

if they get 3 million+ for this, im sure theyll throw some grass on there to appease the HOA.

Fact of the matter is, new builds have been relisted within the 1 year mark and SOLD.



cant find the thread that mentioned you cant sell a new build within 1 year...you are in fact, wrong.

New build Genoa

https://www.redfin.com/CA/Irvine/74-Steeplechase-92602/home/177733260

It will be one year by the time home settles, but no way HOA will sign off on the sale without a finished yard.

Listing does not equate to a sale.

I've never had the HOA "sign off" a resale I've done. Is that new?

Of course they sign off in Irvine / TIC villages (not speaking of other areas). If they didn’t approve re-sale of homes nobody would pay HOA fees and just sell LOL. HOA transfer doc fees are a part of re-sale closing process in TIC neighborhoods.

Offline Irvinehomeseeker

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3267 on: December 30, 2021, 06:31:09 PM »
On the topic of landscaping , here is a new listing that doesn't have any landscaping in the backyard. The house has never been lived in as per description ( Rich investor who could afford to keep it vacant), so in today's market will fly into escrow with multiple offers (as Martin says  ;))

https://www.redfin.com/CA/Irvine/110-Lovelace-92620/home/167385353

Offline sleepy5136

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3268 on: December 30, 2021, 07:13:40 PM »
On the topic of landscaping , here is a new listing that doesn't have any landscaping in the backyard. The house has never been lived in as per description ( Rich investor who could afford to keep it vacant), so in today's market will fly into escrow with multiple offers (as Martin says  ;))

https://www.redfin.com/CA/Irvine/110-Lovelace-92620/home/167385353
Pretty decent sized lot… only bad thing is it is close to portals pkway

Offline Cares

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3269 on: December 30, 2021, 10:56:39 PM »
How much you think this house in SG will go for? My guess is $2.25 mil

https://www.redfin.com/CA/Irvine/76-Haviland-92620/home/58556994?600390594=copy_variant&231528114=control&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet

Damn i am off by $10k…sold price is $2.60 mil  >:(

I was thinking around $700/sf so pretty close.

I am always shocked but not shocked by these prices at the same time.

I know this home very well as I toured it originally with buyers. It couldn't sell for $1.88M back in early 2021. On the market for 60 days or so. Now it gets relisted for $1.96M and sells for $2.16M right away.

 

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