Newer Irvine listings with crazy WTF asking prices from equity sellers

OCLuvr said:
Do you think Portola Springs is any less hot? Not even a complete SFR sold for $500k higher than asking.. Yes, 0.5million higher than asking

238 Desert Bloom Irvine, CA 92618
https://www.zillow.com/homedetails/238-Desert-Bloom-Irvine-CA-92618/119682482_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare
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the yard is bigger than avg for Irvine standards. Almost 6k sqft lot.
 
Not Irvine, but an interesting case study that readers may find of other new build properties in Irvine.
https://www.redfin.com/CA/Lake-Forest/158-Pinnacle-Dr-92630/home/143912669

Builder sale of model home Oct, 2018 - $1,560, all cash, no loan.

Resale of home May 2021, $1,580, all cash, no loan.

New list for sale January 2022, $1,780.

In the sale history to present day, you can see the same furniture, staging in bathrooms, etc from model build (2016?) to 2022. These aren't re-used photos as the lighting and angles have changed.  Not an appreciation play as price growth doesn't fit the WTF category, but IMHO the home seems to be on a high rotation spin cycle for cash washing.
 
For PS, I think the pandemic really helps it out. The biggest knock against PS is its ?remoteness? as it is not as central as other new villages. But with the pandemic and remote work, the ?remoteness? is no longer an issue and its natural beauty now stands out (poor man?s OH).

Ready2Downsize said:
OCLuvr said:
I think PS and EW have had the best ROI in the last one year
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Even though EW has that horrid "trailer park" across the street. LOL!
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The California Court Company said:
For PS, I think the pandemic really helps it out. The biggest knock against PS is its ?remoteness? as it is not as central as other new villages. But with the pandemic and remote work, the ?remoteness? is no longer an issue and its natural beauty now stands out (poor man?s OH).
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PS is actually a perfect place for me.  Even though it's "remote", it's actually closer to my company than EW or OH. I would have loved to buy in OH, but since I'm poor, so we went with poor man's OH.  ;D My wife does love the natural beauty of PS.
 
PS's "green cover" (trees, etc) I think will be better in the long run than OH's. OH's trees - mostly Avocado and Eucalyptus - are kinda ugly relative to other landscaping choices. In 5 or so years PS's landscaping should be mature and well filled in which is better in some ways to an orchard theme. Both communities have their unique features, but in terms of the overall landscaping I find PS to have a nicer look.
 
Soylent Green Is People said:
Not Irvine, but an interesting case study that readers may find of other new build properties in Irvine.
https://www.redfin.com/CA/Lake-Forest/158-Pinnacle-Dr-92630/home/143912669

Builder sale of model home Oct, 2018 - $1,560, all cash, no loan.

Resale of home May 2021, $1,580, all cash, no loan.

New list for sale January 2022, $1,780.

In the sale history to present day, you can see the same furniture, staging in bathrooms, etc from model build (2016?) to 2022. These aren't re-used photos as the lighting and angles have changed.  Not an appreciation play as price growth doesn't fit the WTF category, but IMHO the home seems to be on a high rotation spin cycle for cash washing.
Click to expand...

OZARK in Irvine. :),

Or is in Lake Forest
 
The California Court Company said:
For PS, I think the pandemic really helps it out. The biggest knock against PS is its ?remoteness? as it is not as central as other new villages. But with the pandemic and remote work, the ?remoteness? is no longer an issue and its natural beauty now stands out (poor man?s OH).

Ready2Downsize said:
OCLuvr said:
I think PS and EW have had the best ROI in the last one year
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PS = "poorman's OH" or "irvine's value village", where's mety's/yf's excel sheet...
Even though EW has that horrid "trailer park" across the street. LOL!
 
Hey come on. Why you gotta think I'm YF also? I'm not YF/BTB. He should come back and resolve all this.



Maybe he did come back? ;)
 
Soylent Green Is People said:
PS's "green cover" (trees, etc) I think will be better in the long run than OH's. OH's trees - mostly Avocado and Eucalyptus - are kinda ugly relative to other landscaping choices. In 5 or so years PS's landscaping should be mature and well filled in which is better in some ways to an orchard theme. Both communities have their unique features, but in terms of the overall landscaping I find PS to have a nicer look.
Click to expand...

Wow, grasping for straws there LOL.  ?Avocado trees are ugly? Lolll
 
TestingIrvine said:
Soylent Green Is People said:
PS's "green cover" (trees, etc) I think will be better in the long run than OH's. OH's trees - mostly Avocado and Eucalyptus - are kinda ugly relative to other landscaping choices. In 5 or so years PS's landscaping should be mature and well filled in which is better in some ways to an orchard theme. Both communities have their unique features, but in terms of the overall landscaping I find PS to have a nicer look.
Click to expand...

Wow, grasping for straws there LOL.  ?Avocado trees are ugly? Lolll
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People are entitled to an opinion...
 
I am a floor plan enthusiast, I think the floor plan for this listing can be found in the last post on page 4.https://www.talkirvine.com/index.php/topic,15007.45.html

funny thing it is the same reality (panda, not our johnscreek panda) for this listing and the reality for Mike who spammed the thread above.


Soylent Green Is People said:
Not Irvine, but an interesting case study that readers may find of other new build properties in Irvine.
https://www.redfin.com/CA/Lake-Forest/158-Pinnacle-Dr-92630/home/143912669

Builder sale of model home Oct, 2018 - $1,560, all cash, no loan.

Resale of home May 2021, $1,580, all cash, no loan.

New list for sale January 2022, $1,780.

In the sale history to present day, you can see the same furniture, staging in bathrooms, etc from model build (2016?) to 2022. These aren't re-used photos as the lighting and angles have changed.  Not an appreciation play as price growth doesn't fit the WTF category, but IMHO the home seems to be on a high rotation spin cycle for cash washing.
Click to expand...
 
Danimal said:
ti2021 said:
https://www.redfin.com/CA/Irvine/51-Rising-Sun-92620/home/5958949

Wow this Woodbury home sold for $795/sq ft. The same floor plan on the same street sold for 250k less in July 2021.
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?Half of the garage is converter into office?. Totally worth $795/sqft 😎.

This is one of the ugliest SFR in my neighborhood.  Some of them actually have an option for 3rd floor.  FOMO is making buyers desperate.
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250K in 6 months!! What is happening right now probably easily beats the insane price rise of 2005 I think. I doubt any RE professional could have predicted such demand and price rise in the middle of last year.
 
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