Newer Irvine listings with crazy WTF asking prices from equity sellers

irviniteeee said:
USCTrojanCPA said:
irviniteeee said:
What is going on? Let's get back to WTF pricing instead of WTF mindsets.
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Word!  Ok, going back on track...this one was listed very reasonably at $1,650,000 to sell quickly but then they kept bumping up the price to $1,850,000 then to $1,920,000 then to $1,950,000 and now $1,969,500.  Ummm, message to the seller/realtor this strategy will only hurt you.
https://www.redfin.com/CA/Irvine/108-Cultivate-92618/home/112728689

Not to mention the 1% buyer agent commission.  I have 3 words for this listing price....NOT GONNA HAPPEN!
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Also...some staging/cleaning up/professional photos would go a long way...Just saying.
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You mean the lack of staging and cleaning?  Those pictures sure do look like cell phone pictures to me.  This one will be like watching a train wreck.  haha
 
USCTrojanCPA said:
irviniteeee said:
What is going on? Let's get back to WTF pricing instead of WTF mindsets.
Click to expand...

Word!  Ok, going back on track...this one was listed very reasonably at $1,650,000 to sell quickly but then they kept bumping up the price to $1,850,000 then to $1,920,000 then to $1,950,000 and now $1,969,500.  Ummm, message to the seller/realtor this strategy will only hurt you.
https://www.redfin.com/CA/Irvine/108-Cultivate-92618/home/112728689

Not to mention the 1% buyer agent commission.  I have 3 words for this listing price....NOT GONNA HAPPEN!
Click to expand...

Agreed that it's a bad strategy. I mean, if they got multiple offers, they could have just countered with higher price. And if they didn't get offers, then how would bumping the listing price going to help? I can't really see the advantage of keep bumping the list price.

And calling this a SFR is a joke. It's definitely a condo with a tiny backyard. I wouldn't pay the original $1.65M for this house, let alone the nearly $2M price.
 
USCTrojanCPA said:
trematix said:
https://www.redfin.com/CA/Irvine/62-Poncho-92602/home/143911240?600390594=copy_variant&231528114=control&1778901559=variant&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet

Talk about a hefty reduction?
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Yeah, big time...from $3.4m to $2.55m.  I guess the seller wants it sold quickly.
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Went into contract, any guess on what it'll close at?  Guessing the $2.55M was a ploy to drive up bids, would be shocked to see it close at $2.55M...  I'm guessing more around $2.8M, $800K gain in 7 months is still pretty stellar.
 
I agree with you on 2.8


Chegg said:
USCTrojanCPA said:
trematix said:
https://www.redfin.com/CA/Irvine/62-Poncho-92602/home/143911240?600390594=copy_variant&231528114=control&1778901559=variant&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet

Talk about a hefty reduction?
Click to expand...

Yeah, big time...from $3.4m to $2.55m.  I guess the seller wants it sold quickly.
Click to expand...

Went into contract, any guess on what it'll close at?  Guessing the $2.55M was a ploy to drive up bids, would be shocked to see it close at $2.55M...  I'm guessing more around $2.8M, $800K gain in 7 months is still pretty stellar.
Click to expand...
 
Chegg said:
USCTrojanCPA said:
trematix said:
https://www.redfin.com/CA/Irvine/62-Poncho-92602/home/143911240?600390594=copy_variant&231528114=control&1778901559=variant&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet

Talk about a hefty reduction?
Click to expand...

Yeah, big time...from $3.4m to $2.55m.  I guess the seller wants it sold quickly.
Click to expand...

Went into contract, any guess on what it'll close at?  Guessing the $2.55M was a ploy to drive up bids, would be shocked to see it close at $2.55M...  I'm guessing more around $2.8M, $800K gain in 7 months is still pretty stellar.
Click to expand...

$2.75m is my guess.
 
USCTrojanCPA said:
Chegg said:
USCTrojanCPA said:
trematix said:
https://www.redfin.com/CA/Irvine/62-Poncho-92602/home/143911240?600390594=copy_variant&231528114=control&1778901559=variant&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet

Talk about a hefty reduction?
Click to expand...

Yeah, big time...from $3.4m to $2.55m.  I guess the seller wants it sold quickly.
Click to expand...

Went into contract, any guess on what it'll close at?  Guessing the $2.55M was a ploy to drive up bids, would be shocked to see it close at $2.55M...  I'm guessing more around $2.8M, $800K gain in 7 months is still pretty stellar.
Click to expand...

$2.75m is my guess.
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$3M.

4,000sqft is the sweet spot in Orchard Hills
 
best_potsticker_in_town said:
Attached condos in Stonegate have officially crossed over the $10M mark -https://www.redfin.com/CA/Irvine/110-Oasis-92620/home/58556047

Congrats to the seller!

Clearly a fat-fingered sale price entry error - but funny nonetheless  ;D
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Only $7,600 per SF....Shady Canyon has nothing on Stonegate.  haha  I think we know that the closing price is obviously $1,260,000 which is $110,000 less than what I sold my model match Oasis listing back last month, I told my seller recently that he got the peak pricing for his condo.
 
USCTrojanCPA said:
best_potsticker_in_town said:
Attached condos in Stonegate have officially crossed over the $10M mark -https://www.redfin.com/CA/Irvine/110-Oasis-92620/home/58556047

Congrats to the seller!

Clearly a fat-fingered sale price entry error - but funny nonetheless  ;D
Click to expand...

Only $7,600 per SF....Shady Canyon has nothing on Stonegate.  haha  I think we know that the closing price is obviously $1,260,000 which is $110,000 less than what I sold my model match Oasis listing back last month, I told my seller recently that he got the peak pricing for his condo.
Click to expand...

Hmm... Prices down 8% in one month.
 
Liar Loan said:
USCTrojanCPA said:
best_potsticker_in_town said:
Attached condos in Stonegate have officially crossed over the $10M mark -https://www.redfin.com/CA/Irvine/110-Oasis-92620/home/58556047

Congrats to the seller!

Clearly a fat-fingered sale price entry error - but funny nonetheless  ;D
Click to expand...

Only $7,600 per SF....Shady Canyon has nothing on Stonegate.  haha  I think we know that the closing price is obviously $1,260,000 which is $110,000 less than what I sold my model match Oasis listing back last month, I told my seller recently that he got the peak pricing for his condo.
Click to expand...

Hmm... Prices down 8% in one month.
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I wouldn't use mine as the base case as I squeeze the last dollar out of buyers for my listings.  The back up buyers were in the $1.3m to $1.32m range so I would see that pricing which would be a 3-5% decline from the blow off top.
 
64 SFRs listed under $2M in Irvine currently - wow. 247 total listings - double wow. How many months inventory is that at the current state of rates/buyer demand?
 
OCtoSV said:
64 SFRs listed under $2M in Irvine currently - wow. 247 total listings - double wow. How many months inventory is that at the current state of rates/buyer demand?
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We have under 2 months of inventory currently, up from 2 weeks of inventory around year end.
 
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