Newer Irvine listings with crazy WTF asking prices from equity sellers

aquabliss said:
The interior on this house is pretty crazy, lots of work put in to all the accent walls with a mix of paint effects / wallpaper / marble tile.  It's a bit over the top but pretty nice and doesn't look cheap.https://www.redfin.com/CA/Irvine/145-Tenor-92618/home/169475344

Also their video tour is really cool, great drone shots and interior panning with slow/fast movements - really well done.
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Do you think it's reasonable for someone to subrent 2 of the rooms to like young adults for 1,500 a month? Or is there not even a market for that.
 
Compressed-Village said:
USCTrojanCPA said:
Compressed-Village said:
The more euphoria, the more positive reinforcement of pricing should be higher is the same predicament of 2008 unwound.

The big difference now is you got both the FED and Democrat Congress gives the nod, not so the Republican. The fiscal cliff is ever so closer to a doom drop.


In the last real crash, it?s required just the FED that does the trick. Not so this time.


We are heading into abyss. Reality suck. I rather be paper rich, but realities, is what we must face??someday. In the meantime enjoy the condwich appreciation.
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The dynamics of the previous run-up were totally different versus what is going on today.  There was a lot more speculation and flipping with very loose credit standards like NINJA loans.  Not the case this time around as you are fully underwritten by lenders today plus the demand is from buyers who want to live in the home (all but 2 of my buyers in the past year were looking to buy the home to live in it). You have the work-from-home movement, move-up buyers, first time home buyers, and vacation home buyers that are driving the market which is cause very low inventory everywhere.  As I always used to say, watch inventory levels as they will be your tell on where pricing is going.
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This by far is the most vital statistic to me. You have buyers that bought a home as a shelters, rather than investors. By far the most stable path.

Blackrock realestate investments their REIT single family homes have balloons with and many other institutions investtors jump into residential realestate investing.
https://slate.com/business/2021/06/blackrock-invitation-houses-investment-firms-real-estate.html

I am certain that some level of homes in Irvine once hit MLS or even before hit listing have some form of influence of this. In turn drive up insane price. This can be good as long as they stay in the game and have a long view and long hold. Conversely, if institution buys, there is no emotions involve just numbers and just P&L then I know business is business. Keep it when it good, dump it when it sour.
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I don't think institutional money is hitting the OC market, dare I say ever? There's 3 public ones and their 10k doesn't paint a picture OC fulfills.
 
Ironic how these crazy prices are actually what people are paying.

I haven't been to a model home or open house in years... and now I'm afraid to go.
 
irvinehomeowner said:
Ironic how these crazy prices are actually what people are paying.

I haven't been to a model home or open house in years... and now I'm afraid to go.
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Haha ya I remember the days of free boba, tacos, cookies for Model home grand openings.  Bet we?ll never see those again.
 
On top of all that foods and drinks, gifts bags were given away with reusable shopping bags, sun screens, hat and t-shirts with builders logos on them.

These will be collectibles items now that they will never bring it back. Hold on to those and keep them in good conditions for trade later on. Oh, the madness then. Ha ha
 
https://www.redfin.com/CA/Irvine/99-Henson-92620/home/167401778?1280460695=variant&600390594=copy_variant&231528114=variant&1077477207=variant&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet?utm_medium=share&utm_source=web_share&utm_campaign=native_dialog

$1.3 for Delano.  Eastwood is a hot village people want to live at.
 
TestingIrvine said:
https://www.redfin.com/CA/Irvine/99-Henson-92620/home/167401778?1280460695=variant&600390594=copy_variant&231528114=variant&1077477207=variant&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet?utm_medium=share&utm_source=web_share&utm_campaign=native_dialog

$1.3 for Delano.  Eastwood is a hot village people want to live at.
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"This gorgeous 4 Bed / 3 Bath masterful residence is upgraded and sits on a premium large lot with no one next to you for a wide open feel. 99 Henson has large bedrooms and is a highly functional floor plan in the most popular enclave (Delano) of Eastwood Village built by master builder Brookfield Residential."

When you start hearing 1500 sqft is a large lot for a 1.3m home.... no comment...
 
sleepy5136 said:
TestingIrvine said:
https://www.redfin.com/CA/Irvine/99-Henson-92620/home/167401778?1280460695=variant&600390594=copy_variant&231528114=variant&1077477207=variant&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet?utm_medium=share&utm_source=web_share&utm_campaign=native_dialog

$1.3 for Delano.  Eastwood is a hot village people want to live at.
Click to expand...

"This gorgeous 4 Bed / 3 Bath masterful residence is upgraded and sits on a premium large lot with no one next to you for a wide open feel. 99 Henson has large bedrooms and is a highly functional floor plan in the most popular enclave (Delano) of Eastwood Village built by master builder Brookfield Residential."

When you start hearing 1500 sqft is a large lot for a 1.3m home.... no comment...
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Premium large lot?  HAHAHAHAHAHA  I couldn't stop laughing when I read that. 
 
sleepy5136 said:
TestingIrvine said:
https://www.redfin.com/CA/Irvine/99-Henson-92620/home/167401778?1280460695=variant&600390594=copy_variant&231528114=variant&1077477207=variant&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet?utm_medium=share&utm_source=web_share&utm_campaign=native_dialog

$1.3 for Delano.  Eastwood is a hot village people want to live at.
Click to expand...

"This gorgeous 4 Bed / 3 Bath masterful residence is upgraded and sits on a premium large lot with no one next to you for a wide open feel. 99 Henson has large bedrooms and is a highly functional floor plan in the most popular enclave (Delano) of Eastwood Village built by master builder Brookfield Residential."

When you start hearing 1500 sqft is a large lot for a 1.3m home.... no comment...
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Yeah, 1918 sq ft home on a 1500 sq ft is a premium large lot?  ;D
 
sleepy5136 said:
https://www.redfin.com/CA/Irvine/356-Novel-92618/home/173025239?1280460695=variant&600390594=copy_variant&231528114=control&1077477207=variant&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet

Is this a joke? The previous owner was raising the price since 9/2020 and unloaded it for 808k and now it?s worth 1.4m? People weren?t interested from 9/2020 until January of this year. Can someone explain this?
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It?s going to sell at list price or more.  $510 PSF is a steal  LOL
 
TestingIrvine said:
sleepy5136 said:
https://www.redfin.com/CA/Irvine/356-Novel-92618/home/173025239?1280460695

Is this a joke? The previous owner was raising the price since 9/2020 and unloaded it for 808k and now it?s worth 1.4m? People weren?t interested from 9/2020 until January of this year. Can someone explain this?
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It?s going to sell at list price or more.  $510 PSF is a steal  LOL
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forreal? So no one and their mother was interested in it for 4 months (September 2020 - January 2021) and now you're telling me this can sell for almost double the price in a span of 8 months?
 
Well, did anyone thought bitcoin went from 15 bucks to 63,000 thousands today?

Standing inside the bubble wrap, no one see it as a bubble. It?s just good ol? air that we breath in. At least when it does correct, you still have a roof over your head. Bitcoin, it?s just a nice memory.
 
Compressed-Village said:
Well, did anyone thought bitcoin went from 15 bucks to 63,000 thousands today?

Standing inside the bubble wrap, no one see it as a bubble. It?s just good ol? air that we breath in. At least when it does correct, you still have a roof over your head. Bitcoin, it?s just a nice memory.
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don't think bitcoin and RE is a great comparison.
 
sleepy5136 said:
TestingIrvine said:
sleepy5136 said:
https://www.redfin.com/CA/Irvine/356-Novel-92618/home/173025239?1280460695

Is this a joke? The previous owner was raising the price since 9/2020 and unloaded it for 808k and now it?s worth 1.4m? People weren?t interested from 9/2020 until January of this year. Can someone explain this?
Click to expand...

It?s going to sell at list price or more.  $510 PSF is a steal  LOL
Click to expand...
forreal? So no one and their mother was interested in it for 4 months (September 2020 - January 2021) and now you're telling me this can sell for almost double the price in a span of 8 months?
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I thought people didn't like tri-story homes, but this market is different and so may sell soon! The house looks nice from the outside and modern inside.

I am just wondering if the increase in rates lately will have any impact on this Irvine RE market.
 
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