Newer Irvine listings with crazy WTF asking prices from equity sellers

[The Motor Court Company]

3700 sqft on a 5k lot...so the backyard cannot be that large. I recall your new home has a bigger lot than this?
But any way, the point is that for Irvine Chinese buyers alone make up a huge chunk of demand.

https://www.redfin.com/CA/Irvine/59-Chasma-92618/home/167386450

According the listing agent's Weibo posting one week ago, he has 33 cash buyers (presumably foreign) waiting for new listings...

That's a lot of sq ft for a 4 bedroom house.

 

[sgip]

"But any way, the point is that for Irvine Chinese buyers alone make up a huge chunk of demand."

I wonder what percentages of 2019-2022 purchase buyers are "mainland Chinese" - AKA FCB's vs "Irvine Chinese" - AKA move ups. From there, does a high subset exist to compare mainland Chinese FCB's and Taiwanese FCB's? 

 

[sleepy5136]

3700 sqft on a 5k lot...so the backyard cannot be that large. I recall your new home has a bigger lot than this?
But any way, the point is that for Irvine Chinese buyers alone make up a huge chunk of demand.

https://www.redfin.com/CA/Irvine/59-Chasma-92618/home/167386450

According the listing agent's Weibo posting one week ago, he has 33 cash buyers (presumably foreign) waiting for new listings...

That's a lot of sq ft for a 4 bedroom house.

The last time I went to orchard hills, literally everyone and their mother is chinese. My dad even jokes it's like living in China.

 

[irvinehomeowner]

The legend of the FCBs in Irvine continues...

 

[The Motor Court Company]

if one Chinese relator has 33 cash buyers ready to pull the trigger (according to his Weibo, these signed a contract with his firm, so committed and exclusive to him), imagine how many total are out there.

By the way, from another realtor that also serves the Chinese demographic, her firm offers service for transactions in RMB as well (not sure if that's true or not)

 

[irvinebullhousing]

The legend of the FCBs in Irvine continues...

Where are other options to park/put your money? Tough to be rich, right?

 

[CalBears96]

3700 sqft on a 5k lot...so the backyard cannot be that large. I recall your new home has a bigger lot than this?
But any way, the point is that for Irvine Chinese buyers alone make up a huge chunk of demand.

My new home is 2600 sq ft on 3900 lot, but since it's a detached condo, it has a bigger backyard. But what I meant was 4 bedrooms in a 3700 sq ft home seems a bit strange. Perhaps one of the bedrooms was converted to a den or office. My current home is 3309 with 4 bedrooms, but the 5th one was optional den, so it's listed as 4 bedrooms.

 

[The Motor Court Company]

I've seen worse floorpan wise. There is this two story house, 3000 square ft, 3 bedroom and 2.5 bath. Master is downstairs and there is one junior master suite upstairs. The 3rd bedroom is also downstairs (more like a den), and there is only one full bath downstairs, all the way inside the master suite that you need to go across the entire length of the house to just get inside the master, then walk in reverse direction half way to reach it. The 0.5 bathroom, powder, is on the corner of the house, far from the dining and living rooms. Master bath is closer...so it is more a 2 bedroom + den, 2.5 bath house, the 0.5 powder is not even that accessible.

3700 sqft on a 5k lot...so the backyard cannot be that large. I recall your new home has a bigger lot than this?
But any way, the point is that for Irvine Chinese buyers alone make up a huge chunk of demand.

My new home is 2600 sq ft on 3900 lot, but since it's a detached condo, it has a bigger backyard. But what I meant was 4 bedrooms in a 3700 sq ft home seems a bit strange. Perhaps one of the bedrooms was converted to a den or office. My current home is 3309 with 4 bedrooms, but the 5th one was optional den, so it's listed as 4 bedrooms.

 

[CalBears96]

I've seen worse floorpan wise. There is this two story house, 3000 square ft, 3 bedroom and 2.5 bath. Master is downstairs and there is one junior master suite upstairs. The 3rd bedroom is also downstairs (more like a den), and there is only one full bath downstairs, all the way inside the master suite that you need to go across the entire length of the house to just get inside the master, then walk in reverse direction half way to reach it. The 0.5 bathroom, powder, is on the corner of the house, far from the dining and living rooms. Master bath is closer...so it is more a 2 bedroom + den, 2.5 bath house, the 0.5 powder is not even that accessible.

Wow. That's a really bad floorplan. 

 

[Hugo Township]

I've seen worse floorpan wise. There is this two story house, 3000 square ft, 3 bedroom and 2.5 bath. Master is downstairs and there is one junior master suite upstairs. The 3rd bedroom is also downstairs (more like a den), and there is only one full bath downstairs, all the way inside the master suite that you need to go across the entire length of the house to just get inside the master, then walk in reverse direction half way to reach it. The 0.5 bathroom, powder, is on the corner of the house, far from the dining and living rooms. Master bath is closer...so it is more a 2 bedroom + den, 2.5 bath house, the 0.5 powder is not even that accessible.

Seems like a really bad use of 3000 sq ft unless there are a bunch of useable bonus room offices you aren't mentioning. And even then...not great

 

[The Motor Court Company]

plan 1. I suppose if the original owner chose to have an ensuite for bedroom 3, it will not be as bad. but the powder room...https://u.realgeeks.media/searchsandiego/crosbyfloorplans.pdf

I've seen worse floorpan wise. There is this two story house, 3000 square ft, 3 bedroom and 2.5 bath. Master is downstairs and there is one junior master suite upstairs. The 3rd bedroom is also downstairs (more like a den), and there is only one full bath downstairs, all the way inside the master suite that you need to go across the entire length of the house to just get inside the master, then walk in reverse direction half way to reach it. The 0.5 bathroom, powder, is on the corner of the house, far from the dining and living rooms. Master bath is closer...so it is more a 2 bedroom + den, 2.5 bath house, the 0.5 powder is not even that accessible.

Seems like a really bad use of 3000 sq ft unless there are a bunch of useable bonus room offices you aren't mentioning. And even then...not great

 

[Irvinehomeseeker]

"Cream of the crop" Delano former model home going on sale soon. The largest model.

50 Parkwood, Irvine 92602
$1.39M

3 Delano homes (all with them with 4 bedrooms )on market in the 1.29 to 1.39M Range, the last one being the former model.

 

[Mety]

"Cream of the crop" Delano former model home going on sale soon. The largest model.

50 Parkwood, Irvine 92602
$1.39M

3 Delano homes (all with them with 4 bedrooms )on market in the 1.29 to 1.39M Range, the last one being the former model.

That's pretty weak for Delano. This one from Stonegate EAST is pending within 10 days at $1.3m.https://www.redfin.com/CA/Irvine/34-Maple-Leaf-92618/home/45383034

 

[Cares]

"Cream of the crop" Delano former model home going on sale soon. The largest model.

50 Parkwood, Irvine 92602
$1.39M

3 Delano homes (all with them with 4 bedrooms )on market in the 1.29 to 1.39M Range, the last one being the former model.

2 of the Delano homes are the same owner. The model home + the tenant one. They are telling agents to tour the model home for those interested in the tenant occupied one since they are the same layout. LOL.

 

[Irvinehomeseeker]

"Cream of the crop" Delano former model home going on sale soon. The largest model.

50 Parkwood, Irvine 92602
$1.39M

3 Delano homes (all with them with 4 bedrooms )on market in the 1.29 to 1.39M Range, the last one being the former model.

2 of the Delano homes are the same owner. The model home + the tenant one. They are telling agents to tour the model home for those interested in the tenant occupied one since they are the same layout. LOL.

WOW..must be a rich owner with 2 Delanos

 

[xlunaxoreox]

What is the strategy for buyers who don?t want to overpay but want to get the home? Do we always have to add $200k or more to listing? Why isn?t interest rates curbing interest?

 

[usctrojancpa]

What is the strategy for buyers who don?t want to overpay but want to get the home? Do we always have to add $200k or more to listing? Why isn?t interest rates curbing interest?

Find a good agent that can help you write a strong offer with good terms.

 

[Mety]

What is the strategy for buyers who don?t want to overpay but want to get the home? Do we always have to add $200k or more to listing? Why isn?t interest rates curbing interest?

Offer at the price you want to offer at. Even if your realtor tells you to do $200k more than the listing, you don't have to do that if you feel uncomfortable. Let your realtor work magic with what you can do.

On the weekend, I was driving by and I thought it was some famous person's birthday party since there were lots of cars, but turned out it was an open house. It surely looked insane how many people showed up and even lining up waiting to get in.

 

[The Motor Court Company]

Chinese FCB investor?

"Cream of the crop" Delano former model home going on sale soon. The largest model.

50 Parkwood, Irvine 92602
$1.39M

3 Delano homes (all with them with 4 bedrooms )on market in the 1.29 to 1.39M Range, the last one being the former model.

2 of the Delano homes are the same owner. The model home + the tenant one. They are telling agents to tour the model home for those interested in the tenant occupied one since they are the same layout. LOL.

WOW..must be a rich owner with 2 Delanos

 

[Mety]

Chinese FCB investor?

"Cream of the crop" Delano former model home going on sale soon. The largest model.

50 Parkwood, Irvine 92602
$1.39M

3 Delano homes (all with them with 4 bedrooms )on market in the 1.29 to 1.39M Range, the last one being the former model.

2 of the Delano homes are the same owner. The model home + the tenant one. They are telling agents to tour the model home for those interested in the tenant occupied one since they are the same layout. LOL.

WOW..must be a rich owner with 2 Delanos

Yeah, those FCB investors have like 20 of them here. I guess he/she lost some money in poker games.