Loco_local
Active member
With all the lumber, steel, copper and other building material tariffs as well as labor shortage, $800k to fix up a house is going to seem like a bargain.
Newer Irvine listings with crazy WTF asking prices from equity sellers
- Thread starter usctrojancpa
- Start date
NEW -> Contingent Buyer Assistance Program
They are smoking crack if they think they'll get around $1,500/sf for that home.
When we bought our Bluffs home 3 years ago, the neighbors across from us bought their home for the sake of their kids' future. The entire first year, their home was vacant. They came over for a 3-month vacation the year after.
Single story in Ladera sold for $6.9M ($1291/sq ft) in 3 weeks. Is this a record in Ladera?
Same home sold for $5.23M just 2 years ago
Same home sold for $5.23M just 2 years ago
usctrojancpa
Well-known member
They are smoking crack if they think they'll get around $1,500/sf for that home.
This new home from KB was listed at $3.73M in Dec 2024 and closed at $2.7M. Good deal?
miniDragonPaw
New member
Why will someone do such a thing???
www.zillow.com
Money laundering???
104 Eversedge, Irvine, CA 92618 | MLS #OC25172868 | Zillow
This 2347 square feet Single Family home has 4 bedrooms and 3 bathrooms. It is located at 104 Eversedge, Irvine, CA.
www.zillow.com
Money laundering???
Imnotmoving
Active member
All this talk about money laundering is freaking me out. Is Irvine full of money laundering criminals? Do builders not care where this money comes from?Why will someone do such a thing???
104 Eversedge, Irvine, CA 92618 | MLS #OC25172868 | Zillow
This 2347 square feet Single Family home has 4 bedrooms and 3 bathrooms. It is located at 104 Eversedge, Irvine, CA.
View attachment 10516
Money laundering???
sgip
Well-known member
No one cares about money laundering. If they did, the OC real estate market would crash. If money laundering is suspected, realtors and escrows are to report it, but while the cash is flowing like a tsunami from Kamchatka, why would anyone go against the tides and stop the party?
If we knew who was the prior listing agent on the July sale, that would tell us something. If we had the new owners names - something that won't come up on title for about a month, we would know quite a bit more. Since there is zero back yard installed, it's either a forced sale due to any number of circumstances, or clearly money laundering. Note that the previous listing agent used the photos from another unit, even pirating the 3D walk through tour! Given a crack-tastic $3m list price in January 2025 and a closing price of $2.3m in July, someone I believe got the proverbial "tap on the shoulder" and had to get cash back to their original "giftors".
If we knew who was the prior listing agent on the July sale, that would tell us something. If we had the new owners names - something that won't come up on title for about a month, we would know quite a bit more. Since there is zero back yard installed, it's either a forced sale due to any number of circumstances, or clearly money laundering. Note that the previous listing agent used the photos from another unit, even pirating the 3D walk through tour! Given a crack-tastic $3m list price in January 2025 and a closing price of $2.3m in July, someone I believe got the proverbial "tap on the shoulder" and had to get cash back to their original "giftors".
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CalBears96
Well-known member
The so-called "money laundering" isn't necessarily by criminals. It could simply be rich high tech workers who hit it big during the recent tech boom moving their money out of China.
When we bought our Bluffs home 3 years ago, the neighbors across from us bought their home for the sake of their kids' future. The entire first year, their home was vacant. They came over for a 3-month vacation the year after.
sleepy5136
Well-known member
I'm pretty sure they are called criminals in CCP. You can't transfer over 50k USD out of China otherwise it's violating the law. Idk if they increased/decreased it recently but that was the threshold.