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They'll need to be cutting prices if they want to sell homes.

But 125 Drumbeat (same floor plan) closed for $450k more in August. Interesting market to say the least.

Life happens and my father got sick earlier this year so my focus was on helping him get better since I'm the only child and he lives alone in Las Vegas. Now that he's doing well I'm getting back into the swing of things. I'll provide an update on the Irvine market through September later on...

Is this a resale property or new construction? Who disclosed that to you?

CA has rules about what job function/responsibilities qualify for an hour job and which are required to be salaried. Start there first.

They are smoking crack if they think they'll get around $1,500/sf for that home.

You can see a lot with many Chinese agents. Guess they can't afford to pay $500-800 for photography plus drone pictures. It'll cost the seller multiples on the sales price. I would be pissed if I were a seller to see those kind of pictures of my listing.

I figured it wouldn't take long to reopen as the market has been slowing down.

The premium for view lots has dropped a good bit now and not all view lots are created equally. Larger view lots with city light views will trade at a higher premium versus smaller lots with hillside views.

Attached condos in Irvine will have 2 HOAs, one for the master Village HOA and the other is for the condo HOA. The condo HOA covers the fire insurance for the home which is the largest part of the cost. These HOAs have not been great at shopping around for fire insurance coverage hence why we...

Resales for most Great Park homes are sub $900/sf so yes they are still overpriced.

Fairly low given that the market for resale homes is typically 2%.

Yup, I'd bet good money that area will see more apartments.

It's all about price and presentation. I somehow sold an RSM listing for higher this month than I did one down the street in October. Yeah the market is normalizing (aka a neutral market) so the homes that are overpriced will sit.

Earlier this morning I listed a turnkey Hillside Plan 2 detached condo in Portola Springs on MLS. The home was built in 2021 and features 3 bedrooms and 2.5 bathrooms along with 2,087sf of living space and sits on a larger, private corner lot. The home is listed for sale at $1,938,000. PM or...

Yes, it as an all cash purchase via a pocket listing.

It was purchased for $4,359,000 on 7/24/24 with a $2,500,000 loan. Looks like a hefty loss plus the cost of the carry as the home has been vacant.

The broker co-op for Crestview is $40k.

Got word from escrow that we closed earlier this afternoon. The final sales price was $1,450,000 or $50,000 above the list price. Congrats to both the buyer and seller.

As mentioned above, the HOA does cover fire insurance for attached condos. Most all HOAs do not cover "walls-in" interior coverage but you'll want to get a copy of the master insurance policy to make sure.