Newer Irvine listings with crazy WTF asking prices from equity sellers


Originally listed for $8.8m - I waited a month and offered $7.888m but lost out :( Oh well... was really looking forward to paying that non tax deductible $100K+ property tax
You can buy this house, it's an Oceano, listed at a low price of $7.58mil
 
This house was sold 11 days ago. Now it is listing for almost $100k more. New owner thinks he can flip it for quick bucks. Truly nut.

 
This house was sold 11 days ago. Now it is listing for almost $100k more. New owner thinks he can flip it for quick bucks. Truly nut.

I guess new owner thinks he can flip it because he's seeing Chinese cash flooding California now that 11 other states are prohibiting Chinese money in the real estate market.

My wife has watching these real estate Youtube channels and they're all saying California housing market is heating up again, probably specifically Irvine and OC.
 
I guess new owner thinks he can flip it because he's seeing Chinese cash flooding California now that 11 other states are prohibiting Chinese money in the real estate market.

My wife has watching these real estate Youtube channels and they're all saying California housing market is heating up again, probably specifically Irvine and OC.

After commissions and closing costs (on both the buy and sell side) along with carry costs, there won't be a profit unless they get over list.
 
I guess new owner thinks he can flip it because he's seeing Chinese cash flooding California now that 11 other states are prohibiting Chinese money in the real estate market.

My wife has watching these real estate Youtube channels and they're all saying California housing market is heating up again, probably specifically Irvine and OC.
Just curious, where can I see a list of the 11 states that banned Chinese Money from Real Estate Purchases?
 
That’s great for California home owners. More foreign buyers flock into buying homes here instead of those red states.
 

Originally listed for $8.8m - I waited a month and offered $7.888m but lost out :( Oh well... was really looking forward to paying that non tax deductible $100K+ property tax
Was this the one shown on Selling the OC?
 

$200k immediate flip

Jan 26, 2023, Sold for $2,450,000 -> Feb 15, 2023 Listed (Active) $2,650,000​


Nice house. Not gonna happen. I don't think anyone is going to be buying houses while banks are in turmoil.
 
Nice house. Not gonna happen. I don't think anyone is going to be buying houses while banks are in turmoil.
Indeed - word on the street is no securitization happening for any type of asset outside of conforming mortgages right now. If jumbos are only portfolio loans now those spreads will start to widen as buyers have few choices.
 

$200k immediate flip

Jan 26, 2023, Sold for $2,450,000 -> Feb 15, 2023 Listed (Active) $2,650,000​


Not sure if itll sell for that price. We'll see when it closes
 

$200k immediate flip

Jan 26, 2023, Sold for $2,450,000 -> Feb 15, 2023 Listed (Active) $2,650,000​



Seller will need to sell it for $2.55m+ to break even.
 
Indeed - word on the street is no securitization happening for any type of asset outside of conforming mortgages right now. If jumbos are only portfolio loans now those spreads will start to widen as buyers have few choices.

There hasn't been much securitizations of jumbo loans period, big banks put their jumbo loans on their own books (they do have additional credit overlays with tighter underwriting standards).
 
Let's see....very few upgrades, regular sized lot, no/horrible staging, and asking over $900/sf for an attached condo on this one....


Not gonna happen! They won't even get $800/sf.
 
Someone was crazy enough paying $100k more for this house 2 days ago than @ the peak of last year.

I still wonder why this new construction IP unit which is a proper SFR is not moving after so many months on MLS...it's not on a T intersection as far as I can tell from the Google maps. https://www.redfin.com/CA/Irvine/103-Wheat-92602/unit-146/home/180242121
 
This house was sold 11 days ago. Now it is listing for almost $100k more. New owner thinks he can flip it for quick bucks. Truly nut.

May be buyer remorse or found out just can't afford the house?
 
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