Newer Irvine listings with crazy WTF asking prices from equity sellers

Man that's a lot of attempt to chase the market up. The recent price is a real show of confidence.

Nice home. I wonder if they will mark it up again to 4 Million plus soon after the latest attempt. :)
 
huuur said:
Do homes in Orchard Hills grove not sell as well as those in reserve?

I've noticed there are a bunch of homes in the grove now, but very few in reserve. Also, reserve ones seem to have higher $ per sqft? 

These two are in grovehttps://www.redfin.com/CA/Irvine/52-Royal-Pne-92602/home/112724562https://www.redfin.com/CA/Irvine/139-Long-Fence-92602/home/58551514

This one is in reservehttps://www.redfin.com/CA/Irvine/278-Isabella-92602/home/178364356
Click to expand...

Royal Pine is right next to the Toll Road and Long Fence is in the Capella tract which has never sold well because it has super small backyards and the streets feel very narrow. 
 
everytime I hear Royal Pine, I always think about 51 Royal Pine...the one that got away.

USCTrojanCPA said:
huuur said:
Do homes in Orchard Hills grove not sell as well as those in reserve?

I've noticed there are a bunch of homes in the grove now, but very few in reserve. Also, reserve ones seem to have higher $ per sqft? 

These two are in grovehttps://www.redfin.com/CA/Irvine/52-Royal-Pne-92602/home/112724562https://www.redfin.com/CA/Irvine/139-Long-Fence-92602/home/58551514

This one is in reservehttps://www.redfin.com/CA/Irvine/278-Isabella-92602/home/178364356
Click to expand...

Royal Pine is right next to the Toll Road and Long Fence is in the Capella tract which has never sold well because it has super small backyards and the streets feel very narrow.
Click to expand...
 
USCTrojanCPA said:
huuur said:
Do homes in Orchard Hills grove not sell as well as those in reserve?

I've noticed there are a bunch of homes in the grove now, but very few in reserve. Also, reserve ones seem to have higher $ per sqft? 

These two are in grovehttps://www.redfin.com/CA/Irvine/52-Royal-Pne-92602/home/112724562https://www.redfin.com/CA/Irvine/139-Long-Fence-92602/home/58551514

This one is in reservehttps://www.redfin.com/CA/Irvine/278-Isabella-92602/home/178364356
Click to expand...

Royal Pine is right next to the Toll Road and Long Fence is in the Capella tract which has never sold well because it has super small backyards and the streets feel very narrow.
Click to expand...

TUSD vs. IUSD also matters somewhat, I guess?
 
CalBears96 said:
USCTrojanCPA said:
huuur said:
Do homes in Orchard Hills grove not sell as well as those in reserve?

I've noticed there are a bunch of homes in the grove now, but very few in reserve. Also, reserve ones seem to have higher $ per sqft? 

These two are in grovehttps://www.redfin.com/CA/Irvine/52-Royal-Pne-92602/home/112724562https://www.redfin.com/CA/Irvine/139-Long-Fence-92602/home/58551514

This one is in reservehttps://www.redfin.com/CA/Irvine/278-Isabella-92602/home/178364356
Click to expand...

Royal Pine is right next to the Toll Road and Long Fence is in the Capella tract which has never sold well because it has super small backyards and the streets feel very narrow.
Click to expand...

TUSD vs. IUSD also matters somewhat, I guess?
Click to expand...

I'd say less so than the other reasons mentioned above for those linked listings.
 
This one just got sold $475k over list price which was already high at $2.2 mil  8)

https://www.redfin.com/CA/Irvine/52-Umbria-92618/home/45378829?600390594=copy_variant&231528114=control&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet
 
Danimal said:
This one just got sold $475k over list price which was already high at $2.2 mil  8)

https://www.redfin.com/CA/Irvine/52-Umbria-92618/home/45378829?600390594=copy_variant&231528114=control&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet
Click to expand...

I remember looking at these homes when they started in the "High $900's" in 2013...
 
Regarding the Summerhouse listing at $3.7m. for comparison purposes, there are only 4 houses for sale in all of San Francisco (City) that approximately match SF, Bed/Bath count, etc. That's how dire NorCal pricing and inventory is and why we may see more people considering a move to SoCal for a higher quality of life.

Still - for the price of Irvine's Summerhouse you could buy this SF treasure:
https://www.redfin.com/CA/San-Francisco/114-Lyon-St-94117/unit-114A/home/1427140

My .02c
 
The California Court Company said:
Did Redfin estimate just increase along the way? So the seller can keep increasing it lol.
zovall said:
irviniteeee said:
zovall said:
https://www.redfin.com/CA/Irvine/49-Summerhouse-92603/home/5927931

7/25/2014 - Sold for $2,450,000
12/29/2020 - Sold for $2,450,000
Listing on 3/5/2022 for $3,690,000
Click to expand...

Former model home. Turtle Ridge. It?ll go.
Click to expand...

Lol, and now the price has been increased to $3,780,000
Click to expand...
Click to expand...

As stated before those Redfin/Zillow/etc guestimates are complete garbage.
 
Cant believe this house sold for $1.7 mil.  We checked out this 3 story home and thought that it would not be sold for $1.5 mil asking price. Tiny 3 story SFH with not a whole lot of upgrades. Oh boy, were we wrong.

https://www.redfin.com/CA/Irvine/55-Midnight-Sky-92620/home/5959242?600390594=copy_variant&231528114=control&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet
 
Danimal said:
Cant believe this house sold for $1.7 mil.  We checked out this 3 story home and thought that it would not be sold for $1.5 mil asking price. Tiny 3 story SFH with not a whole lot of upgrades. Oh boy, were we wrong.

https://www.redfin.com/CA/Irvine/55-Midnight-Sky-92620/home/5959242?600390594=copy_variant&231528114=control&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet
Click to expand...

Not that crazy given the price per SF and that the living area is downstairs.
 
USCTrojanCPA said:
Royal Pine is right next to the Toll Road and Long Fence is in the Capella tract which has never sold well because it has super small backyards and the streets feel very narrow.
Click to expand...

Will the Genoa tract have the same issue for resales being next to the toll? Or only the ones running up along the edge?
 
foodisgood said:
USCTrojanCPA said:
Royal Pine is right next to the Toll Road and Long Fence is in the Capella tract which has never sold well because it has super small backyards and the streets feel very narrow.
Click to expand...

Will the Genoa tract have the same issue for resales being next to the toll? Or only the ones running up along the edge?
Click to expand...

The closer the homes are to the toll road the more buyers will pass on the homes.
 
Haha your reply seems obvious when I read it but I wonder why Laguna Altura doesn?t have that problem. We passed in Laguna Altura back then when it was new construction because by the freeway, didn?t know price would appreciate more than other same priced new construction.
 
foodisgood said:
Haha your reply seems obvious when I read it but I wonder why Laguna Altura doesn?t have that problem. We passed in Laguna Altura back then when it was new construction because by the freeway, didn?t know price would appreciate more than other same priced new construction.
Click to expand...

Much less inventory and south of the 405 along with being zoned to Irvine schools.  Also, it's hard for buyers to see how close the Laguna Altura homes really are to the 405/133 the way that the topography is.
 
This attached condo sold for $1.075 mil, $175k over LP. 
It is attached by 2 sides and sits on top of another condo.  8)


https://www.redfin.com/CA/Irvine/25-Spanish-Lace-92620/home/7210813?600390594=copy_variant&231528114=control&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet
 
Danimal said:
This attached condo sold for $1.075 mil, $175k over LP. 
It is attached by 2 sides and sits on top of another condo.  8)


https://www.redfin.com/CA/Irvine/25-Spanish-Lace-92620/home/7210813?600390594=copy_variant&231528114=control&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet
Click to expand...

At least that's a 3bd condo.  If you thought that was crazy, check these 2 Stonegate TWO BEDROOM condos which closed over $1m...
https://www.redfin.com/CA/Irvine/97-Mayfair-92620/home/51681424https://www.redfin.com/CA/Irvine/230-Mayfair-92620/home/58557304

I thought it would have been a long, long time since I'd see a 2bd attached condo in Irvine close for over $1m but that time is now.
 
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