Newer Irvine listings with crazy WTF asking prices from equity sellers

thwang99 said:
www.zillow.com

159 Plum Lily, Irvine, CA 92618 | Zillow

159 Plum Lily, Irvine CA, is a Condo home that contains 1976 sq ft and was built in 2019.It contains 3 bedrooms and 3 bathrooms.This home last sold for $1,760,000 in February 2024. The Zestimate for this Condo is $1,822,400, which has increased by $36,320 in the last 30 days.The Rent Zestimate...
www.zillow.com www.zillow.com

This place is listed for $1.749m, but it's Zestimate shows only $1.4m! I know Zestimates can be behind, but that seems like a huge discrepency. Also it's 3BR.
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I said it many times, those Redfin and Zillow estimates are useless and should not be relied upon to determine what the value of a home is. A good realtor can give you a much more accurate estimate of what a home's value is.
 
sleepy5136 said:
This is nothing. It makes Hawaii homes look beautiful. Take a look at this one:


Welcome to the Hawaii market where 1M SFH gives you something that cannot be lived in :)
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Someone with big dreams bought that dump, started the demo, and realized the place is held together by termites holding hands. Now they're hoping a greater fool will grant them the profit they expected to make, but without actually doing any work. They may also have realized the property is completely devoid of any curb appeal and requires a short hike just to get to and from the extra wide open "carport" in front. Imagine having to truck your Costco haul up to the house in the Palolo Valley rain on shopping day. There's no easy fix for a lot of what ails it.
 
daedalus said:
Someone with big dreams bought that dump, started the demo, and realized the place is held together by termites holding hands. Now they're hoping a greater fool will grant them the profit they expected to make, but without actually doing any work. They may also have realized the property is completely devoid of any curb appeal and requires a short hike just to get to and from the extra wide open "carport" in front. Imagine having to truck your Costco haul up to the house in the Palolo Valley rain on shopping day. There's no easy fix for a lot of what ails it.
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My friend that lives in Palolo told me the owner was a contractor and wanted to fix the place without a permit. The neighbors around the area reported the owner and now the owner is looking to sale as permits take a long time to be granted in Hawaii.
 
daedalus said:
Someone with big dreams bought that dump, started the demo, and realized the place is held together by termites holding hands. Now they're hoping a greater fool will grant them the profit they expected to make, but without actually doing any work. They may also have realized the property is completely devoid of any curb appeal and requires a short hike just to get to and from the extra wide open "carport" in front. Imagine having to truck your Costco haul up to the house in the Palolo Valley rain on shopping day. There's no easy fix for a lot of what ails it.
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Termites holding hands...HAHA!
 
www.zillow.com

149 Ceremony, Irvine, CA 92618 | Zillow

149 Ceremony, Irvine CA, is a Single Family home that contains 3021 sq ft and was built in 2017.It contains 4 bedrooms and 4 bathrooms.This home last sold for $2,786,000 in February 2024. The Zestimate for this Single Family is $2,897,100, which has increased by $59,413 in the last 30 days.The...
www.zillow.com www.zillow.com

Property sold in December 2023 for $2.404m, and just relisted 1 month later for $2.786m! It's a nice place, I liked the ceiling downstairs in the kitchen especially.

1705775759007.png
 
thwang99 said:
www.zillow.com

149 Ceremony, Irvine, CA 92618 | Zillow

149 Ceremony, Irvine CA, is a Single Family home that contains 3021 sq ft and was built in 2017.It contains 4 bedrooms and 4 bathrooms.This home last sold for $2,786,000 in February 2024. The Zestimate for this Single Family is $2,897,100, which has increased by $59,413 in the last 30 days.The...
www.zillow.com www.zillow.com

Property sold in December 2023 for $2.404m, and just relisted 1 month later for $2.786m! It's a nice place, I liked the ceiling downstairs in the kitchen especially.
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Really small lot.
 
thwang99 said:
www.zillow.com

149 Ceremony, Irvine, CA 92618 | Zillow

149 Ceremony, Irvine CA, is a Single Family home that contains 3021 sq ft and was built in 2017.It contains 4 bedrooms and 4 bathrooms.This home last sold for $2,786,000 in February 2024. The Zestimate for this Single Family is $2,897,100, which has increased by $59,413 in the last 30 days.The...
www.zillow.com www.zillow.com

Property sold in December 2023 for $2.404m, and just relisted 1 month later for $2.786m! It's a nice place, I liked the ceiling downstairs in the kitchen especially.

View attachment 9397
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I have 6 words...not gonna happen at that price.
 
Haven't you heard? Rates are coming down.

1 month before re-listing...the 1st mortgage payment hasn't even been made yet.
 
The most spacious backyard I've ever seen. So big, it can only fit half of the out door dining table. This is the new Portola Spring california dining table trends, where your seating can extend into the family room for outdoor seating.
 
Perhaps someone bought it to own. Couldn't pay me to live there given the location and impact of the wash, rail line, age of the structure.

If flipped it will list at $1.35m once rehabbed, sell at $1.288m. Perhaps the seller will force the buyer to pay all commissions due to still come out positive . A net net of around $50-75k is still a nice pay day. Narrow, but doable.

Gotta put this house house on my watch list as it may well resurface sometime in March/April.
 
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irvinebullhousing said:
The most spacious backyard I've ever seen. So big, it can only fit half of the out door dining table. This is the new Portola Spring california dining table trends, where your seating can extend into the family room for outdoor seating.
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Damn I feel claustrophobic looking at those backyard pictures…at least you are going to be intimate with your neighbors
 
CalBears96 said:
Really small lot.
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It's not uncommon with new build homes, but who staged this outdoor furniture?!

1ca2b335fca469ad0577bd2a2097556a-uncropped_scaled_within_1536_1152.webp
 
momopi said:
It's not uncommon with new build homes, but who staged this outdoor furniture?!

1ca2b335fca469ad0577bd2a2097556a-uncropped_scaled_within_1536_1152.webp
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The individual chairs at the far end of the yard are actually timeout chairs for kids. They screw up they get to look at a wall for that is 2 feet away for 10-15 minutes. They would definitely set me straight
 
momopi said:
It's not uncommon with new build homes, but who staged this outdoor furniture?!

1ca2b335fca469ad0577bd2a2097556a-uncropped_scaled_within_1536_1152.webp
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No, this is really small lot. The only new builds in PS that have small lots like this one are some Highland lots and most of Olivewood lots. Azul's smallest lots are still more than 10 feet to the back wall while Cielo's smallest lots are more than 15 feet to the back wall. And these are the distances from the closer side (dining room side). The great room side usually has an additional 5-10 ft more space.

The Cielo home that I bought have 22 ft space from the dining room side and 30 ft space from the great room side. My lot size is 5100+. And a lot of Cielo homes have more than 6000+ sq ft lots.

Oh, did I mention that my Bluffs home, which is a detached condo (meaning lot size doesn't include any driveway) has a 3900 lot size?

A decent lot size for a 3000+ sq ft home should be at least 4000 sq ft. The smallest Cielo lot is 4240 sq ft.
 
CalBears96 said:
No, this is really small lot. The only new builds in PS that have small lots like this one are some Highland lots and most of Olivewood lots. Azul's smallest lots are still more than 10 feet to the back wall while Cielo's smallest lots are more than 15 feet to the back wall. And these are the distances from the closer side (dining room side). The great room side usually has an additional 5-10 ft more space.

The Cielo home that I bought have 22 ft space from the dining room side and 30 ft space from the great room side. My lot size is 5100+. And a lot of Cielo homes have more than 6000+ sq ft lots.

Oh, did I mention that my Bluffs home, which is a detached condo (meaning lot size doesn't include any driveway) has a 3900 lot size?

A decent lot size for a 3000+ sq ft home should be at least 4000 sq ft. The smallest Cielo lot is 4240 sq ft.
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Do you own the land in your condo?
 
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