I noticed three homes for sale in Hidden Canyon
https://www.redfin.com/CA/Irvine/112-Gardenview-92603/home/112725511- $4.3m ($945/sq ft)
https://www.redfin.com/CA/Irvine/105-Whiteplume-92603/home/112725619- $4.28m ($894/sq ft)
https://www.redfin.com/CA/Irvine/114-Heather-Mist-92603/home/112725749 - $4.28m ($886/sq ft)
after Hidden Canyon recorded the most expensive home sale on record a few weeks ago.
https://www.redfin.com/CA/Irvine/138-Scenic-Crst-92603/home/112725389- $9m ($1406/sq ft).
Spoke to the realtor who started this low price shopping spree within Hidden Canyon (114 Heather Mist realtor). Michael Chen ?DRE #01913609 ? RE/MAX Universal Realty 626-818-5808 (agent)
mikechen@altruasia.com (agent). Asked him why such a discrepancy in pricing? (This was when his listing was the only one on the mls). He said it was deliberate, to create a bidding war. Only problem is there was a 12 party bidding war on the 138 Scenic Crest home, which was initially price at $8.88.
If these other properties followed the same $/sq ft, adjusted downwards due to significantly smaller lots, you still come to a price around $6m (adjusted for inflation, and lack of inventory supply). What is the advantage of anchoring the initial price of these homes so low? Is a bidding war going to get these homes 40% more of a sales price? Any experienced realtors or home investors want to chime in? I'm trying to figure out if maybe these are just grossly under priced and I should make an offer to purchase one.
https://www.redfin.com/CA/Irvine/112-Gardenview-92603/home/112725511- $4.3m ($945/sq ft)
https://www.redfin.com/CA/Irvine/105-Whiteplume-92603/home/112725619- $4.28m ($894/sq ft)
https://www.redfin.com/CA/Irvine/114-Heather-Mist-92603/home/112725749 - $4.28m ($886/sq ft)
after Hidden Canyon recorded the most expensive home sale on record a few weeks ago.
https://www.redfin.com/CA/Irvine/138-Scenic-Crst-92603/home/112725389- $9m ($1406/sq ft).
Spoke to the realtor who started this low price shopping spree within Hidden Canyon (114 Heather Mist realtor). Michael Chen ?DRE #01913609 ? RE/MAX Universal Realty 626-818-5808 (agent)
mikechen@altruasia.com (agent). Asked him why such a discrepancy in pricing? (This was when his listing was the only one on the mls). He said it was deliberate, to create a bidding war. Only problem is there was a 12 party bidding war on the 138 Scenic Crest home, which was initially price at $8.88.
If these other properties followed the same $/sq ft, adjusted downwards due to significantly smaller lots, you still come to a price around $6m (adjusted for inflation, and lack of inventory supply). What is the advantage of anchoring the initial price of these homes so low? Is a bidding war going to get these homes 40% more of a sales price? Any experienced realtors or home investors want to chime in? I'm trying to figure out if maybe these are just grossly under priced and I should make an offer to purchase one.