New Listing - Citrine Plan 3 detached condo @ Portola Springs (82 Kestrel)

usctrojancpa

Well-known member
On Monday evening I listed a 2-level Citrine Plan 3 detached condo located in Portola Springs on MLS as a Coming Soon listing and went Active this morning. The home features 3 upstairs bedrooms, 2.5 bathrooms, and an upstairs lot with 1,584sf along with a private yard with no neighbors in the back. The home is listed at $1,150,000.

PM or email me if you are interested in seeing the home. I'll be hosting open houses this weekend (Saturday and Sunday Feb 26th and 27th) from 1-4pm.

Here is the Redfin link:
https://www.redfin.com/CA/Irvine/82-Kestrel-92618/home/143915018

Pictures and the virtual tour and 3D Matterport are in the link below:

www.82Kestrel.com
 
Thank you for sharing! One question: how come this one is listed at a lower listing price compared to the rest of the homes recently sold in Irvine? Is the housing market slowing down?
 
Roy said:
Thank you for sharing! One question: how come this one is listed at a lower listing price compared to the rest of the homes recently sold in Irvine? Is the housing market slowing down?

We listed at a relatively low price that would drive good traffic and multiple offers.  Speaking of that, we have 3 offers in hand and had really good open house traffic so I haven't seen much of a slow down on my end.
 
Ready2Downsize said:
Low price leads to a bidding war with more buyers interested and higher prices in the end then just listing up higher

Easier and more fun negotiating up then it is to negotiating down. ;)
 
Woh! Are these offers significantly above the listing price? Probably there is no sign of the market slowdown then! I guess because of lack of inventory, it will continue going up. It is also not possible to rapidly build new construction homes due to supply chain issues (timber etc).
 
Roy said:
Woh! Are these offers significantly above the listing price? Probably there is no sign of the market slowdown then! I guess because of lack of inventory, it will continue going up. It is also not possible to rapidly build new construction homes due to supply chain issues (timber etc).

Of the 8 offers, 4 are $1.2m and higher.  As you mentioned, low inventory is driving everything now. 
 
If this was 3 months ago, you would have gotten 15 offers!
only 9 offers is a slowdown....

it must be tuf listing homes these days....I feel 4u


Jeff-Daniels-and-Jim-Carrey-Cry-and-Wipe-Their-Tears-With-Money-In-Dumb-and-Dumber.gif

2Q==
 
zubs said:
If this was 3 months ago, you would have gotten 15 offers!
only 9 offers is a slowdown....

it must be tuf listing homes these days....I feel 4u


Jeff-Daniels-and-Jim-Carrey-Cry-and-Wipe-Their-Tears-With-Money-In-Dumb-and-Dumber.gif

2Q==

This must be the slowdown that LL is talking about.  haha
 
Seller accepted one of the counters and we opened escrow today.  I'll put the house on Hold status until the buyer wires in their deposit to escrow.
 
Great! Anything around 1.2M should still be a decent price-point to get into Portola Springs at this time IMO. Though this one has a close proximity to Bowerman landfill and 133 freeway.
 
Roy said:
Great! Anything around 1.2M should still be a decent price-point to get into Portola Springs at this time IMO. Though this one has a close proximity to Bowerman landfill and 133 freeway.

Yeah, the going rate for a newer 3bd detached condo around 1,600sf is in the $1.2m range currently.
 
USCTrojanCPA said:
Yeah, the going rate for a newer 3bd detached condo around 1,600sf is in the $1.2m range currently.

Looks like the going rate for an older (although not that old) 4bd detached condo around 1,800 sf is also in the $1.2m range. I'm guessing this will also sell for higher - will be an interesting comparison with your property.
https://www.redfin.com/CA/Irvine/83-Modesto-92602/unit-93/home/5919233

Also this looks like the first Strada that might break $2m (don't you just love all those 8s!!)
https://www.redfin.com/CA/Irvine/57-Stetson-92602/home/112718888
 
Just got word from escrow that we officially closed this afternoon.  The sales price was $1,240,000 (a record comp closing for the Citrine tract) or $90,000 over the list price and the buyer also provided the seller a free 45-day rent back.  Congrats to both the buyer and seller.
 
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