Newer Irvine listings with crazy WTF asking prices from equity sellers

[fortune11]

Someone actually bought this crap:https://www.redfin.com/CA/Irvine/41-Sorenson-92602/home/5814584

Wow, that has to be one of the worst listings I've ever seen with the pictures and description.

Amusing also that they are going out of their way to focus on all the individual defects in the home in the listing pics.  But maybe  it is needed since it is a short sale  ?

 

[Hugo Township]

How the heck is it a short sale when it sold less than a year ago for a fraction of the listing price?

Jan 31, 2018
Listed (Active)
CRMLS #RS18023280 $1,135,000 ?

Jun 30, 2017 Sold (MLS) (Closed Sale)
CRMLS #PW17083248 $780,000

That is....a lot of debt

 

[woodburyowner]

Definitely something shady going on with this property.  There is probably already a buyer lined up so the agent just needs to list on MLS as a condition of the short sale.  Will be interesting to see how this one plays out.  Hopefully someone with title record access can give some additional insight.

 

[Netperx]

Yeah looks like the listing agent wants to make sure nobody has any interest in the property.

 

[inv0ke-epipen]

2 Bedroom condo, 3 story, for 750?

Wonder if this will sell. Scary if it does.
https://www.redfin.com/CA/Irvine/45-Perennial-92603/home/5947644

Floorplan:http://www.quailhillhomes.com/images/jasminefloorplan7.gif

 

[usctrojancpa]

2 Bedroom condo, 3 story, for 750?

Wonder if this will sell. Scary if it does.
https://www.redfin.com/CA/Irvine/45-Perennial-92603/home/5947644

Floorplan:http://www.quailhillhomes.com/images/jasminefloorplan7.gif

It might sell, but the first number won't be a 7. 

 

[someguy]

Does this one count?

https://www.redfin.com/CA/Irvine/150-Stallion-92602/home/112720411

$1,080,000 for 1,908 sqft motorcourt detached condo 3 bed 2.5 bath?  Maybe it's that "100% privacy" premium?

 

[Jantoven]

Does this one count?

https://www.redfin.com/CA/Irvine/150-Stallion-92602/home/112720411

$1,080,000 for 1,908 sqft motorcourt detached condo 3 bed 2.5 bath?  Maybe it's that "100% privacy" premium?

To be fair, a new Vivo home is selling for roughly that amount for the base price.  So I guess it's all relative...

 

[paydawg]

$620/sq ft for a 45 yr-old home in El Camino?  LOL. 

https://www.redfin.com/CA/Irvine/15062-Lorenat-St-92604/home/4682313

 

[irvinehomeowner]

Can I just say that every price is crazy right now?

I haven't visited Redfin in a while and I can't believe that 3br houses are going for $950k+. Could've made at ~$150k more on our previous home... but then it would have cost us probably $250k more to buy a replacement home.

 

[lnc]

Yeah, the housing price is pretty crazy right now and they are still selling.

Two of Petaluma's model homes are asking over $1.2M!  And they won't last long in the market.

 

[misme]

Yeah, the housing price is pretty crazy right now and they are still selling.

Two of Petaluma's model homes are asking over $1.2M!  And they won't last long in the market.

very interesting, the degree of market compression.

3 BR Petaluma detached condos asking over 1.2 M.
Meanwhile, 4000+ sq ft resale SFRs can be bought for1.7M in multiple communities, and there's a ton of choice out there.


If you can afford it, the big houses are definitely a better "deal"

 

[Kings]

$620/sq ft for a 45 yr-old home in El Camino?  LOL. 

https://www.redfin.com/CA/Irvine/15062-Lorenat-St-92604/home/4682313

Not to mention backing the railroad and power lines...

 

[usctrojancpa]

$620/sq ft for a 45 yr-old home in El Camino?  LOL. 

https://www.redfin.com/CA/Irvine/15062-Lorenat-St-92604/home/4682313

Not to mention backing the railroad and power lines...

I don't care how upgraded the home is...the location will prevent it from closing anything close to the asking price.  Another "waste of time" listing by a seller who is smoking some good stuff. haha

 

[aquabliss]

Cypress Village motorcourts for $1.5M:https://www.redfin.com/CA/Irvine/88-Field-Poppy-92620/home/112720672

Oh wait, only worth $1.25M + $250k for 88 address.

 

[Kings]

Cypress Village motorcourts for $1.5M:https://www.redfin.com/CA/Irvine/88-Field-Poppy-92620/home/112720672

Oh wait, only worth $1.25M + $250k for 88 address.

better come with that eames lounge chair

 

[bones]

Cypress Village motorcourts for $1.5M:https://www.redfin.com/CA/Irvine/88-Field-Poppy-92620/home/112720672

Oh wait, only worth $1.25M + $250k for 88 address.

Ha.  Pretty much.https://www.redfin.com/CA/Irvine/56-Field-Poppy-92620/home/109741380

 

[irvine buyer]

Cypress Village motorcourts for $1.5M:https://www.redfin.com/CA/Irvine/88-Field-Poppy-92620/home/112720672

Oh wait, only worth $1.25M + $250k for 88 address.

I think the upgrades in 88 Field Poppy are worth a bit to the right buyer.  probably not what the seller spent though.

 

[someguy]

Cypress Village motorcourts for $1.5M:https://www.redfin.com/CA/Irvine/88-Field-Poppy-92620/home/112720672

Oh wait, only worth $1.25M + $250k for 88 address.

$1.5M... shared access way... 4 side neighbors plus 4 corner neighbors...  tiny yard...  I just don't get why anyone would pay that price...  I must be the one taking crazy pills, the market couldn't be irrational, it's got to be me...

 

[sgip]

What 1.5m buys you in Coto:

https://www.redfin.com/CA/Coto-de-Caza/27-Sarazen-Ln-92679/home/5020899

or San Juan Capistrano:

https://www.redfin.com/CA/San-Juan-Capistrano/28422-Via-Mondano-92675/home/4949433

or Tustin:

https://www.redfin.com/CA/Santa-Ana/19202-Barrett-Ln-92705/home/4432595

(hope the cars come with the property, or as USCT likes to say "everything is for sale at the right price")

The lack of Mello Roos and HOA dues alone might pay for a good private school education if the schools are any kind of determining factor.

I get the Irvine premium, and also nice sometimes to only have to hold one arm out the window to borrow a cup of laundry detergent from your neighbor, but wow things are getting toppy here.