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Newer Irvine listings with crazy WTF asking prices from equity sellers

usctrojancpa

Well-known member
I believe it was the last episode, they were doing a summary and someone said he had a house in Irvine they were listing soon at $8.8. Now it is listed at $8.8 and I hear they received some offers above $8 already

That other one on Trailmaster has been sitting for a bit already. Doubtful if they get much over $3m at this point let alone mid $3m. The one at 203 Trailmaster was listed 10 days after they purchased it from Shea homes at $3,677,000, just enough time to stage it and take pictures. haha
 

sleepy5136

Active member
Some of us will be happy if this goes for asking (myself included).
Cetara Plan 2 w/ big lot but backyard/frontyard needs to be done (extra $300-500k needed?)

Homes like these are difficult to sell without landscaping done. Especially in this market.
 

sleepy5136

Active member
That other one on Trailmaster has been sitting for a bit already. Doubtful if they get much over $3m at this point let alone mid $3m. The one at 203 Trailmaster was listed 10 days after they purchased it from Shea homes at $3,677,000, just enough time to stage it and take pictures. haha
wow. IP made Shea charge a huge lot premium on 203. 211 sold for 2.65m but their lot is quite small.
 

Goriot

Active member
I believe it was the last episode, they were doing a summary and someone said he had a house in Irvine they were listing soon at $8.8. Now it is listed at $8.8 and I hear they received some offers above $8 already
This listing went pending. Curious what the sold price would be.
 

usctrojancpa

Well-known member
I know this one has a slightly bigger lot but come now, this price is nuts....


I doubt they'll even get $2.5m (the owner are Portola Springs agents) so they should know better.
 

usctrojancpa

Well-known member
Ummmm this seller didn't get the memo that prices are down from 6 months ago or maybe they drank too much eggnog...


There was a larger Plan 4 corner that closed a few days ago on Nov. 22nd for $2.34m....


The seller will get in the low $2s and will take months and months to get there.
 

CalBears96

Well-known member
Ummmm this seller didn't get the memo that prices are down from 6 months ago or maybe they drank too much eggnog...


There was a larger Plan 4 corner that closed a few days ago on Nov. 22nd for $2.34m....


The seller will get in the low $2s and will take months and months to get there.
Some sellers are just delusional.
 

CalBears96

Well-known member
Not only that, but they are also only offering a 1.50% buyer agent commission when every other listing in Orchard Hills is offering 2% or more to buyer agents.
Isn't that more of a seller agent problem though? I mean, the seller agent charges a certain % and then (s)he decides how to split it. Could be a greedy agent that charges 4% and then only gives 1.5% to buyer agent.
 

someguy

Active member
Isn't that more of a seller agent problem though? I mean, the seller agent charges a certain % and then (s)he decides how to split it. Could be a greedy agent that charges 4% and then only gives 1.5% to buyer agent.
Possible for an inattentive seller, though the amount paid to the buyer's agent's broker can be specified on page 1 section 3 D of the residential listing agreement in terms of %, $, or seller's agent's broker's policy. I would hope the seller reviews this before signing the RLA and bet all good agents discuss this with the seller in advance.
 

usctrojancpa

Well-known member
Isn't that more of a seller agent problem though? I mean, the seller agent charges a certain % and then (s)he decides how to split it. Could be a greedy agent that charges 4% and then only gives 1.5% to buyer agent.

Chances are that if the buyer agent is getting 1.50% then the listing agent is only getting 1.50%. Some buyers will consult their realtor which home they would recommend if they like more than one home so those agents will steer their buyers to homes that are offering a higher commission amount.
 

irviniteeee

Active member
They just purchased this home in LA for 3.05M in April and are now selling it for 3.339.

 

CalBears96

Well-known member
They just purchased this home in LA for 3.05M in April and are now selling it for 3.339.

They seem to be forgetting that April was the peak. :ROFLMAO:
 

Maserson

Active member

10/2021 Listed for 3.6, sold 3 weeks later for 3.7
4/2022 Listed for 4.28, sold 1 month later for 4.6
7/2022 listed for 4.99, relisted again for same.

What's up with the churn? Getting money out of China?
 
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