Newer Irvine listings with crazy WTF asking prices from equity sellers

[usctrojancpa]

Any idea what it was purchased for?

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.

 

[usctrojancpa]

Hidden Canyon sale at $7.8m ($400k over asking) after 11 days in escrow. Agent repped both buyer and seller.

Was it all cash?
Strength of market at high end?

https://www.redfin.com/CA/Irvine/122-Scenic-Crst-92618/home/112725608

View attachment 10380

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

 

[linus]

There are plenty of people who want to live next to the landfill. There are over 300 buyers on the waitlist for Toll Brothers at Summit. Obviously, not all of them are actually interested, but you can be sure that at least 100 of those buyers want to live next to the landfill. Not to mention those on the waitlist for Brookfield and Shea homes at Summit as well.

Over 300 buyers ready to spend $6M+...