New communities in Portola Springs

sleepy5136 said:
Irvine prices are artificially inflated for some time now. Recently the inventory side is artificially low. Everything will be fine until it’s not.

When an RE investment relies on non-native buyers to prop prices up, that’s not something I would invest in. Primary residence however can be different if you plan to stay for a LONG time. There are definitely better returns outside of Irvine. Tract homes pass 2.5m dollars with no view makes zero sense
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Sleepy doesn’t like Irvine but at least he has respectable views and arguments.

I give Sleepy a high five 🖐️
 
billwu said:
I saw starting pricing under 900
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I seriously doubt that any homes at OH4 will be under $900/sq ft. And sales won't start until next summer. How did you even see starting pricing right now? Whatever you saw is not even close to being accurate.
 
Yoda said:
LOL, just sold today for asking price at $3,580,000! 🤣

https://www.redfin.com/CA/Irvine/119-Sunnyslope-92618/home/182269193
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That was surprising considering they got this offer like 4 hours after listing and they said they were waiting for more offers. I guess they didn't get more offers.

And Redfin is really shit with their estimates. It's true that this home probably isn't worth $3.58M, but $2.57M for a view lot? Even if it's not estimated at $3.58M, the closer value is probably $3.3-$3.4M. There's nothing, including non-view lots, in Olivewood, Azul, and Cielo selling close to $2.57M.
 
CalBears96 said:
That was surprising considering they got this offer like 4 hours after listing and they said they were waiting for more offers. I guess they didn't get more offers.

And Redfin is really shit with their estimates. It's true that this home probably isn't worth $3.58M, but $2.57M for a view lot? Even if it's not estimated at $3.58M, the closer value is probably $3.3-$3.4M. There's nothing, including non-view lots, in Olivewood, Azul, and Cielo selling close to $2.57M.
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The buyer paid all cash so maybe they thought let's hit the easy button and take the all cash full priced offer. I also thought it'd close in the $3.6s given how fast it went into escrow.
 
usctrojancpa said:
The buyer paid all cash so maybe they thought let's hit the easy button and take the all cash full priced offer. I also thought it'd close in the $3.6s given how fast it went into escrow.
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It's possible that they didn't get any other offers or other offers weren't cash offers, so they decided to go with the cash offer at listing price. I also thought they got a higher offer that they couldn't resist so they went into escrow only a couple of days after listing.
 
It may sound like a joke that 119 Sunnyslope went for $3.58M, but that's because Olivewood screwed things over for everyone.

Let's do a comparison:

119 Sunnyslope is a 3365 sq ft view lot (some mountain, some city), with 4 BD / 4.5 BA and volume high ceiling, sitting on a 4409 sq ft lot, with roughly $100k upgrades, selling for $3.58M.

Olivewood lot 85 is a 2870 sq ft view lot (all city view), with 4 BD / 3 BA sitting on a 3599 sq ft lot, with some pre-plotted designer upgrades, selling for $3.59M.

View the exception of the city view, and possibly location, 119 Sunnyslope is superior to Olivewood lot 85 in every way. Is it still a joke?
 
CalBears96 said:
It may sound like a joke that 119 Sunnyslope went for $3.58M, but that's because Olivewood screwed things over for everyone.

Let's do a comparison:

119 Sunnyslope is a 3365 sq ft view lot (some mountain, some city), with 4 BD / 4.5 BA and volume high ceiling, sitting on a 4409 sq ft lot, with roughly $100k upgrades, selling for $3.58M.

Olivewood lot 85 is a 2870 sq ft view lot (all city view), with 4 BD / 3 BA sitting on a 3599 sq ft lot, with some pre-plotted designer upgrades, selling for $3.59M.

View the exception of the city view, and possibly location, 119 Sunnyslope is superior to Olivewood lot 85 in every way. Is it still a joke?
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Wrong, the buyers buying at these prices are screwing the Irvine copy & paste homes market.

3.58m with a 4.4k lot when it's not custom built is a joke. Most of PS homes all look like IP homes which means it's not unique and looks the same across villages. My current lot is bigger than 4.4k. So yes, it's a freaking joke alright.
 
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Seems like some people don't understand the concept of "location, location, location."

My Eastvale home was 3309 sq ft, with a 3-car wide garage, sitting on a 9000 sq ft lot, but it only sold for $950k, but that's another story for another time.
 
Eastvale is pretty nice, some say the homes are too cookie cutter and prefer custom homes in Norco next door. In old days Corona was the better city with good school district, but I think these new developments will give them a run for the money. Just need more/closer train stations.
 
CalBears96 said:
Seems like some people don't understand the concept of "location, location, location."

My Eastvale home was 3309 sq ft, with a 3-car wide garage, sitting on a 9000 sq ft lot, but it only sold for $950k, but that's another story for another time.
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How is PS located compared to other areas of Irvine? It's probably the furthest away from 5/405 freeway. out of all of Irvine.
 
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