Newer Irvine listings with crazy WTF asking prices from equity sellers

[akkord]

Someone told me toll doesn?t offer white cabinets. It?s an upgrade but not sure if that?s only for the sub $2m homes.

At that HC price point, if they can afford the home. they can afford the white cabinets even if its an upgrade, the owners just have bad taste or they knew they were going to flip it.

 

[Mety]

Love the lot size and view of this Hidden Canyon home but they won't get anywhere near $900/sf in this market...
https://www.redfin.com/CA/Irvine/126-Scenic-Crst-92603/home/148435057

The seller bought it for $3,595,000 at the end of Feb 2018 and wants to make a profit of $1m without even having landscaping done?  Uhhh yeah, not gonna happen!

Agree. Nice lot and view.  That kitchen needs some open shelving... so much brown. I wonder if any home builders currently offer that option for the kitchen.

Personally, I think the best colored cabinets are white....they are timeless and will never go out of style.

Someone told me toll doesn?t offer white cabinets. It?s an upgrade but not sure if that?s only for the sub $2m homes.

Older folks like to keep it old school wood colors.

BTW, have you ever thought if today's trendy looks such as quartz marble looking stuff will look so outdated in 10 years?

 

[bones]

Love the lot size and view of this Hidden Canyon home but they won't get anywhere near $900/sf in this market...
https://www.redfin.com/CA/Irvine/126-Scenic-Crst-92603/home/148435057

The seller bought it for $3,595,000 at the end of Feb 2018 and wants to make a profit of $1m without even having landscaping done?  Uhhh yeah, not gonna happen!

Agree. Nice lot and view.  That kitchen needs some open shelving... so much brown. I wonder if any home builders currently offer that option for the kitchen.

Personally, I think the best colored cabinets are white....they are timeless and will never go out of style.

Someone told me toll doesn?t offer white cabinets. It?s an upgrade but not sure if that?s only for the sub $2m homes.

Older folks like to keep it old school wood colors.

BTW, have you ever thought if today's trendy looks such as quartz marble looking stuff will look so outdated in 10 years?

I actually don?t think simple quartz marble will be outdated in 10 years. But that?s 10 years from now and these people are trying to sell this home now. 2019.

 

[irvinehomeowner]

They must be really fitster (fit and hipster - I just made that up).

I'm stealing this.

 

[Mety]

Love the lot size and view of this Hidden Canyon home but they won't get anywhere near $900/sf in this market...
https://www.redfin.com/CA/Irvine/126-Scenic-Crst-92603/home/148435057

The seller bought it for $3,595,000 at the end of Feb 2018 and wants to make a profit of $1m without even having landscaping done?  Uhhh yeah, not gonna happen!

Agree. Nice lot and view.  That kitchen needs some open shelving... so much brown. I wonder if any home builders currently offer that option for the kitchen.

Personally, I think the best colored cabinets are white....they are timeless and will never go out of style.

Someone told me toll doesn?t offer white cabinets. It?s an upgrade but not sure if that?s only for the sub $2m homes.

Older folks like to keep it old school wood colors.

BTW, have you ever thought if today's trendy looks such as quartz marble looking stuff will look so outdated in 10 years?

I actually don?t think simple quartz marble will be outdated in 10 years. But that?s 10 years from now and these people are trying to sell this home now. 2019.

You don't think this will make a comeback?

 

[Mety]

They must be really fitster (fit and hipster - I just made that up).

I'm stealing this.

I guess the word already existed.  https://www.urbandictionary.com/define.php?term=Fitster

 

[eyephone]

They must be really fitster (fit and hipster - I just made that up).

I'm stealing this.

I guess the word already existed.  https://www.urbandictionary.com/define.php?term=Fitster

 

[bones]

You don't think this will make a comeback?

No idea.  There?s all sorts of design stuff out there so who knows what stays, what goes, and what comes back. But isn?t that part of the homeownership fun (and expense)?  To remodel a space every so often with a refresh of trends?

 

[fortune11]

Love the lot size and view of this Hidden Canyon home but they won't get anywhere near $900/sf in this market...
https://www.redfin.com/CA/Irvine/126-Scenic-Crst-92603/home/148435057

The seller bought it for $3,595,000 at the end of Feb 2018 and wants to make a profit of $1m without even having landscaping done?  Uhhh yeah, not gonna happen!

Agree. Nice lot and view.  That kitchen needs some open shelving... so much brown. I wonder if any home builders currently offer that option for the kitchen.

Personally, I think the best colored cabinets are white....they are timeless and will never go out of style.

Someone told me toll doesn?t offer white cabinets. It?s an upgrade but not sure if that?s only for the sub $2m homes.

Older folks like to keep it old school wood colors.

BTW, have you ever thought if today's trendy looks such as quartz marble looking stuff will look so outdated in 10 years?

I actually don?t think simple quartz marble will be outdated in 10 years. But that?s 10 years from now and these people are trying to sell this home now. 2019.

Scrolled through redfin recent sales in that area and found this
https://www.redfin.com/CA/Irvine/101-Preserve-92618/home/112725712

$761 per sqft.  this is Jan 31, 2019 so as fresh a comp as can be

2.79 in Dec 2015 to 4.15 in Jan 2019 -- basically 3y holding period .  assume 500k of upgrades and landscaping etc and 160k for commissions -- still leaves a decent 700k in profit -- not a bad 25% return even if one assumes it was all cash and not leveraged

What do people / domain experts  think ?

 

[B2FiNiTY]

Price is maybe a bit high for this house:https://www.redfin.com/CA/Irvine/119-Plateau-92618/home/160453680

But the big WTF is how they are using their garage (Pic 13 & 14)  ;D

We were pretty attracted to this kind of home back in 2015 when they were first building... I think it's called Willow? Nice floor plans and price points but in the end, those extra stories and tandem garage killed any sort of interest once you start comparing other homes.

 

[irvinehomeowner]

Wow... Hidden Canyon for $4m+?

I thought they were high at $2m+.

Laguna Altura and HC are crazy.

 

[marmott]

Someone told me toll doesn?t offer white cabinets. It?s an upgrade but not sure if that?s only for the sub $2m homes.

From experience with TB in Norcal with houses priced a third of these, you can get your kitchen in any shape or form you want (they had 30 or so cabinet colors). It's just going to cost a lot of $$, for example they were charging $20K to get the cabinets to the ceiling.

 

[fortune11]

Wow... Hidden Canyon for $4m+?

I thought they were high at $2m+.

Laguna Altura and HC are crazy.

Just like with equities and interest rates , I find it best to let market and data dictate what something is worth

Looks like the consensus is we are in a housing slowdown- so if we are clearing at these levels in a negative market backdrop  , barring any type of money laundering or fraud type activity , this is what I would consider part of ?hard data ?

 

[Mety]

You don't think this will make a comeback?

No idea.  There?s all sorts of design stuff out there so who knows what stays, what goes, and what comes back. But isn?t that part of the homeownership fun (and expense)?  To remodel a space every so often with a refresh of trends?

Yeah, it could be fun. The current trend seems to be tri-level with no yard and the exterior looking like Hoag's hospital.

 

[usctrojancpa]

OMG, my eyes hurt looking at the downstairs flooring on this listing...
https://www.redfin.com/CA/Irvine/49-Lupari-92618/home/51681152

Over $650/sf for basically ZERO upgrades?  Someone send a memo to the listing agent and seller the market is soft for homes for over $1m in Irvine.  haha

 

[moc]

OMG, my eyes hurt looking at the downstairs flooring on this listing...
https://www.redfin.com/CA/Irvine/49-Lupari-92618/home/51681152

Over $650/sf for basically ZERO upgrades?  Someone send a memo to the listing agent and seller the market is soft for homes for over $1m in Irvine.  haha

That kitchen is too sad. They didn't even opt for a basic back splash. And yeah basic tile in the kitchen and bathrooms...jeez.

 

[Mety]

OMG, my eyes hurt looking at the downstairs flooring on this listing...
https://www.redfin.com/CA/Irvine/49-Lupari-92618/home/51681152

Over $650/sf for basically ZERO upgrades?  Someone send a memo to the listing agent and seller the market is soft for homes for over $1m in Irvine.  haha

That kitchen is too sad. They didn't even opt for a basic back splash. And yeah basic tile in the kitchen and bathrooms...jeez.

On the positive note, those are the reasons you can ask for discounts!

 

[moc]

OMG, my eyes hurt looking at the downstairs flooring on this listing...
https://www.redfin.com/CA/Irvine/49-Lupari-92618/home/51681152

Over $650/sf for basically ZERO upgrades?  Someone send a memo to the listing agent and seller the market is soft for homes for over $1m in Irvine.  haha

That kitchen is too sad. They didn't even opt for a basic back splash. And yeah basic tile in the kitchen and bathrooms...jeez.

On the positive note, those are the reasons you can ask for discounts!

I will try to remember this silver lining someday *IF*I ever have a budget of over $1 million  ;D In my mind though I just feel like if I'm at that point and can spend that kind of money on a house I would want some basic upgrades like a back splash.

 

[Cares]

OMG, my eyes hurt looking at the downstairs flooring on this listing...
https://www.redfin.com/CA/Irvine/49-Lupari-92618/home/51681152

Over $650/sf for basically ZERO upgrades?  Someone send a memo to the listing agent and seller the market is soft for homes for over $1m in Irvine.  haha

That kitchen is too sad. They didn't even opt for a basic back splash. And yeah basic tile in the kitchen and bathrooms...jeez.

On the positive note, those are the reasons you can ask for discounts!

I will try to remember this silver lining someday *IF*I ever have a budget of over $1 million  ;D In my mind though I just feel like if I'm at that point and can spend that kind of money on a house I would want some basic upgrades like a back splash.

We're currently ripping out our entirely brand new house flooring and kitchen countertops to put in new flooring and backsplash. It's wasteful to me but that's what the wife wants.

 

[Mety]

OMG, my eyes hurt looking at the downstairs flooring on this listing...
https://www.redfin.com/CA/Irvine/49-Lupari-92618/home/51681152

Over $650/sf for basically ZERO upgrades?  Someone send a memo to the listing agent and seller the market is soft for homes for over $1m in Irvine.  haha

That kitchen is too sad. They didn't even opt for a basic back splash. And yeah basic tile in the kitchen and bathrooms...jeez.

On the positive note, those are the reasons you can ask for discounts!

I will try to remember this silver lining someday *IF*I ever have a budget of over $1 million  ;D In my mind though I just feel like if I'm at that point and can spend that kind of money on a house I would want some basic upgrades like a back splash.

We're currently ripping out our entirely brand new house flooring and kitchen countertops to put in new flooring and backsplash. It's wasteful to me but that's what the wife wants.

Why didn't you do that during the construction?