Olivewood at Portola Springs by New Home Co.

[test]

$1.5 Million price drop

https://www.redfin.com/CA/Irvine/139-Oakstone-92618/home/197429992

 

[CalBears96]

It was WAY WAY overpriced at $6M. It's probably still overpriced given its location. Everything is nice about this home other than the noise pollution from the pickleball court.

 

[vchoi]

I found the old price sheet. It was listed new for $4,689,990 on 2/3/2024. For that price the seller is probably losing at least $500k among selling costs, landscaping and closing costs.

 

[CalBears96]

New Home Company completed inflated the Olivewood prices but the homes still sold like hot cakes due to too many rich FCBs.

 

[vchoi]

Not so hot any more. Also did New Home Company change their name?

 

[CalBears96]

New Home Company merged with Landsea Homes and renamed to Risewell Homes. And I meant Olivewood were selling like hot cakes back in 2024 even though prices were extremely inflated. It slowed down quite a bit late 2024 into 2025.

 

[test]

It was WAY WAY overpriced at $6M. It's probably still overpriced given its location. Everything is nice about this home other than the noise pollution from the pickleball court.

70 photos and not one of the pickleball court. That alone might take $1M off the sales price.