Newer Irvine listings with crazy WTF asking prices from equity sellers

6 million is well worth it, as it is the furthest from the landfill and Asphalt. Wondering any sucker made big from cryptos will park their money with this one.

Goriot said:
callmehere said:
Love this thread, finally I get to post a whopper of a STEAL! https://www.zillow.com/homedetails/100-Headwaters-Irvine-CA-92602/325856991_zpid/

$5.58Million USD asking price!  Pics say it all...
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Price raised to $5.98 million?  $6 million wow.  I thought $5.58 million was high Lol.  Are they raising the price based on buyer interests?
https://www.redfin.com/CA/Irvine/100-Headwaters-92602/home/143911345
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Wrong link, I meant to ask about this one

https://www.redfin.com/CA/Irvine/5041-Berean-Ln-92603/home/4737912?utm_source=android_share&utm_medium=share&utm_nooverride=1&utm_content=link&2010988919=control


aquabliss said:
melodypowell said:
https://www.redfin.com/CA/Coto-De-Caza/14-Flat-Iron-Rd-92679/home/5822221?utm_source=android_share&utm_medium=share&utm_nooverride=1&utm_content=link&2010988919=control

I live very close to this house, wonder how much it will go for
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I thought you lived in the Turtles.  When did you move to Coto and how do you like it so far?
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aquabliss said:
CLB_srA said:
IK this thread is for outlandish listings, howeverhttps://www.zillow.com/homedetails/13-Cedarglen-23-Irvine-CA-92604/25712875_zpid/this seems like a cool find, probably first owner too since the annual property tax is only $500, that's insane.
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Ya, that's definitely one they should keep as a rental property with the low property tax rate.
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I was very sad when I sold a home in the Torrance area with annual property taxes of $700.
 
akula1488 said:
Seen some areas I am interested start to have price drops. Is the top in?
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I am also seeing some price drops and increase in Days on Market. May be ppl are fatigued by the increased prices? But interest rates are still low...
 
Irvinehomeseeker said:
akula1488 said:
Seen some areas I am interested start to have price drops. Is the top in?
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I am also seeing some price drops and increase in Days on Market. May be ppl are fatigued by the increased prices? But interest rates are still low...
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Here's data for median sales price and DOM for total MLS, OC, and Irvine. It is 1 month lagged data though but I don't expect July to be too different from June.

Sales price (MLS down, OC flat, Irvine up)https://i.imgur.com/ucY3A1d.jpg

DOM (still around 7 DOM for all)https://i.imgur.com/trXTyzF.jpg
 
Irvinehomeseeker said:
akula1488 said:
Seen some areas I am interested start to have price drops. Is the top in?
Click to expand...

I am also seeing some price drops and increase in Days on Market. May be ppl are fatigued by the increased prices? But interest rates are still low...
Click to expand...

Sellers are listing their homes for higher and higher prices so we'll begin to see overpriced homes sit on the market as more and more buyers get priced out of the market for the time being.  This is exactly how the last big run-up in 2013 ended after prices went up about 20%. Homes that are priced right and show well still fly into escrow with multiple offers.
 
Closing price (2019) was $4,050,000. No photos of the back yard to see if landscaping has been done. Nearest closed comparable (164 Leafy) went for $4,800,000. This $6m list will not appraise - but I doubt it matters.

My .02c
 
Soylent Green Is People said:
Closing price (2019) was $4,050,000. No photos of the back yard to see if landscaping has been done. Nearest closed comparable (164 Leafy) went for $4,800,000. This $6m list will not appraise - but I doubt it matters.

My .02c
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Just need to look at the listing agent name and that's all you need to know.
 
Plenty of real buyers committed to making a go of it in these high priced communities. You can tell when landscaping is customized or the home is lived in that it's a real buy, and a real sell. On the other side of the scale, there's an ocean of nice untraceable, lightly taxed cash flowing through many new construction communities right now and to be clear, this just doesn't happen only in Irvine.

Buy in one year, sell in two = MAX ROI!!!!
 
akula1488 said:
Soylent Green Is People said:
Closing price (2019) was $4,050,000. No photos of the back yard to see if landscaping has been done. Nearest closed comparable (164 Leafy) went for $4,800,000. This $6m list will not appraise - but I doubt it matters.

My .02c
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Just need to look at the listing agent name and that's all you need to know.
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I'm not sure what your comment means.
 
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