[IHB] Through the Lattice

[zovall]

Blog post by CZ:http://www.irvinehousingblog.com/blog/comments/through-the-lattice

 

[aquabliss]

The price is ridiculous, but frankly I'm surprised we don't see more people doing it.

At the rate everything is flying off the market, why not list your property at 140% of it's assumed value and just see what happens.  Maybe someone will make an offer for 10% below listing, and everyone wins.  ???

 

[irvinehomeowner]

I love QH... but that is ridiculous for an Olivos home.

At least it's a view lot.

 

[usctrojancpa]

The price is ridiculous, but frankly I'm surprised we don't see more people doing it.

At the rate everything is flying off the market, why not list your property at 140% of it's assumed value and just see what happens.  Maybe someone will make an offer for 10% below listing, and everyone wins.  ???

Oh, there's plenty of those sellers out there right now.  Their asking prices aren't quite as crazy as this one though.  But for all we know, it may go into escrow next week because some FCBer falls in love with the home/view.  haha

 

[cubiczirconia]

The price is ridiculous, but frankly I'm surprised we don't see more people doing it.

At the rate everything is flying off the market, why not list your property at 140% of it's assumed value and just see what happens.  Maybe someone will make an offer for 10% below listing, and everyone wins.  ???

But for all we know, it may go into escrow next week because some FCBer falls in love with the home/view. 

Exactly! So who are these cash buyers dumping all their cash on homes? Since public schools aren't really for rich, I am assuming it's not for awesome schools. Why not Newport beach or something nice? Why all cash- why? Isn't there a more suitable place to park money?

 

[irvinehomeowner]

Newport Beach does not have 2 Ranch 99s, 2 Capital Seafoods, 3 Korean markets, 2 Persian markets... etc etc etc.

 

[qwerty]

The price is ridiculous, but frankly I'm surprised we don't see more people doing it.

At the rate everything is flying off the market, why not list your property at 140% of it's assumed value and just see what happens.  Maybe someone will make an offer for 10% below listing, and everyone wins.  ???

But for all we know, it may go into escrow next week because some FCBer falls in love with the home/view. 

Exactly! So who are these cash buyers dumping all their cash on homes? Since public schools aren't really for rich, I am assuming it's not for awesome schools. Why not Newport beach or something nice? Why all cash- why? Isn't there a more suitable place to park money?

i recall IHS saying its a lifestyle thing for some of these rich folks.  proximity to asian restaurants/grocery stores which i dont think newport or laguna beach have. Safety wise they are all safe, but dont asians like to be among other asians (goes for any race i guess) and i dont think there are many of those in laguna/newport.

 

[qwerty]

iho beat me to it.

 

[cubiczirconia]

Newport Beach does not have 2 Ranch 99s, 2 Capital Seafoods, 3 Korean markets, 2 Persian markets... etc etc etc.

If I can pull a permit for a ranch 99 in Newport Beach.. I will have the power of altering the ethnic landscape of the city.....?
Really IHO, it all comes down to grocery shopping? Wouldn't rich people have people doing stuff for them?

 

[usctrojancpa]

The price is ridiculous, but frankly I'm surprised we don't see more people doing it.

At the rate everything is flying off the market, why not list your property at 140% of it's assumed value and just see what happens.  Maybe someone will make an offer for 10% below listing, and everyone wins.  ???

But for all we know, it may go into escrow next week because some FCBer falls in love with the home/view. 

Exactly! So who are these cash buyers dumping all their cash on homes? Since public schools aren't really for rich, I am assuming it's not for awesome schools. Why not Newport beach or something nice? Why all cash- why? Isn't there a more suitable place to park money?

i recall IHS saying its a lifestyle thing for some of these rich folks.  proximity to asian restaurants/grocery stores which i dont think newport or laguna beach have. Safety wise they are all safe, but dont asians like to be among other asians (goes for any race i guess) and i dont think there are many of those in laguna/newport.

Yeah, too many whities in Laguna/Newport area. 

 

[cubiczirconia]

The price is ridiculous, but frankly I'm surprised we don't see more people doing it.

At the rate everything is flying off the market, why not list your property at 140% of it's assumed value and just see what happens.  Maybe someone will make an offer for 10% below listing, and everyone wins.  ???

But for all we know, it may go into escrow next week because some FCBer falls in love with the home/view. 

Exactly! So who are these cash buyers dumping all their cash on homes? Since public schools aren't really for rich, I am assuming it's not for awesome schools. Why not Newport beach or something nice? Why all cash- why? Isn't there a more suitable place to park money?

i recall IHS saying its a lifestyle thing for some of these rich folks.  proximity to asian restaurants/grocery stores which i dont think newport or laguna beach have. Safety wise they are all safe, but dont asians like to be among other asians (goes for any race i guess) and i dont think there are many of those in laguna/newport.

Yeah, too many whities in Laguna/Newport area. 

Oh yeah! To quote my mother, "it feels like you are in America"

 

[jayl23]

The price is ridiculous, but frankly I'm surprised we don't see more people doing it.

At the rate everything is flying off the market, why not list your property at 140% of it's assumed value and just see what happens.  Maybe someone will make an offer for 10% below listing, and everyone wins.  ???

But for all we know, it may go into escrow next week because some FCBer falls in love with the home/view. 

Exactly! So who are these cash buyers dumping all their cash on homes? Since public schools aren't really for rich, I am assuming it's not for awesome schools. Why not Newport beach or something nice? Why all cash- why? Isn't there a more suitable place to park money?

LOL, yea, what all u guys just said, and...

Probably some who have earned some money in Asia and want to park it in a safe area.  Some perhaps are young professionals who buy with help of parents/relatives.  So they aren't mega-rich, so probably wouldn't mind sending their kids to the Irvine schools.  They just hate to have any kind of significant debt and having to service it.  Newport beach is probably not as convenient for Asians if you have to do grocery shopping or dining.  I'm sure there are more suitable places to park money, but I think everybody understands owning real estate.  Not that many understand the various 'financial products' out there, and probably don't really trust them due to the last market downturn.  Also, they might also believe that RE is tougher for the govt to confiscate if things get really dicey, whereas money in the bank or investment accounts can be seized relatively easily.

 

[cubiczirconia]

Also, they might also believe that RE is tougher for the govt to confiscate if things get really dicey, whereas money in the bank or investment accounts can be seized relatively easily.

That might be another reason.. So no more movies about stealing billion dollar diamonds in a blue suede bag from rich Asians? ;-)

 

[BunkMoreland]

The price is ridiculous, but frankly I'm surprised we don't see more people doing it.

At the rate everything is flying off the market, why not list your property at 140% of it's assumed value and just see what happens.  Maybe someone will make an offer for 10% below listing, and everyone wins.  ???

But for all we know, it may go into escrow next week because some FCBer falls in love with the home/view. 

Exactly! So who are these cash buyers dumping all their cash on homes? Since public schools aren't really for rich, I am assuming it's not for awesome schools. Why not Newport beach or something nice? Why all cash- why? Isn't there a more suitable place to park money?

i recall IHS saying its a lifestyle thing for some of these rich folks.  proximity to asian restaurants/grocery stores which i dont think newport or laguna beach have. Safety wise they are all safe, but dont asians like to be among other asians (goes for any race i guess) and i dont think there are many of those in laguna/newport.

Yeah, too many whities in Laguna/Newport area. 

Oh yeah! To quote my mother, "it feels like you are in America"

America in 2050 will look very different than America 1950.

 

[jayl23]

Also, they might also believe that RE is tougher for the govt to confiscate if things get really dicey, whereas money in the bank or investment accounts can be seized relatively easily.

That might be another reason.. So no more movies about stealing billion dollar diamonds in a blue suede bag from rich Asians? ;-)

Why not? If u have a good story, all star cast, great choreography, and some good fight scenes, I'd go watch it. 

 

[jayl23]

America in 2050 will look very different than America 1950.

The only constant in the world is change. 

 

[irvinehomeowner]

Really IHO, it all comes down to grocery shopping? Wouldn't rich people have people doing stuff for them?

It's not just the grocery shopping. Like everyone else has alluded to... Newport just isn't "melting pot" enough.

 

[qwerty]

Really IHO, it all comes down to grocery shopping? Wouldn't rich people have people doing stuff for them?

It's not just the grocery shopping. Like everyone else has alluded to... Newport just isn't "melting pot" enough.

does newport have any mexican bakeries?

 

[qwerty]

waiting for IHO racist comment 

 

[irvinehomeowner]

waiting for IHO racist comment 

That's not racist... that's factual. Much of the food consumed in SoCal (location not member) has been prepared/cooked by an ethnicity other than the style of food it actually is.

In Javier's, for example, the cooks are Chinese.