Why is this house on market so many times ?

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Some of the "tells" that this is could be a classic money laundering home. The May 2024 sale had only one listing photo, reused in the June 2024 listing. Zero personalization seen in any photos over each sale - a sign this property may have not been lived in since 2021,if not earlier. No "wear and tear" evident. No closet photos. No improvements seen year over year. The history so fer:

Close new build 2019
Resale in August 2021 (just past 2 year window perhaps to avoid tax issues?)
Resale in March 2024 (listed in February perhaps again for tax avoidance and Just over the 2021 sales price to recoup commission costs)
Resale in May 2024 (20% list price jump from 2021 sale - but selling for less than list???)
New list. 2024 at 3% or so over last sale price, again to cover commissions and expenses.

If one had MLS access perhaps the chain of "realtors" used to market the home would indicate who's been turning a blind eye to this scheme.

This is why Irvine buyers can't have nice things - affordably priced homes that would be used for their intended purposes, as an owner occupied property. I'd me amazed NOT to see this re-listed in Feb/Mar 2025, unless the owner needs to season their funds longer.
 
YLgirl said:
Money laundering?
Click to expand...
like they want to bring in money from China?
sgip said:
Some of the "tells" that this is could be a classic money laundering home. The May sale in between had only one listing photo, reused in the June 2024 listing. Zero personalization seen in any photos over each sale - a sign this property may have not been lived in since 2021, if not earlier.

Close new build 2019
Resale in August 2021 (just past 2 year window perhaps to avoid tax issues?)
Resale in March 2024 (listed in February perhaps again for tax avoidance and Just over the 2021 sales price to recoup commission costs)
Resale in May 2024 (20% list price jump from 2021 sale - but selling for less than list???)
New list. 2024 at 3% or so over last sale price, again to cover commissions and expenses.

If one had MLS access perhaps the chain of "realtors" used to market the home would indicate who's been turning a blind eye to this scheme.

This is why Irvine buyers can't have nice things - affordably priced homes that would be used for their intended purposes, as an owner occupied property.
Click to expand...
Thank you for explanation
Sorry im Naive about classic money laundering scheme ... how does this help the owner to make money ?

I agree Irvine needs to sell to owner occupied residents who contribute to community

Shady greedy investors should just go live on their yachts :)
 
It's not to make money, but to clean it. The value play isn't MAX ROI, but once the home is sold the remaining money is now clean to use for other purposes.

20-50 people funnel cash as "vacation expenses" from Country A who has limits on transferring funds off shore to 1-2 people here. Those people then pay all cash for a property since there isn't a significant requirement to document their source funds. In 90-120 days once the property is re-sold, that cash is now considered "clean" - sourced from a legitimately documented home sale.

Yes, there will be a cut of money in terms of commissions and other real estate related expenses. Yes, there will be a need to pay the "investors" back their money with perhaps a 10-15% Vig ( https://en.wikipedia.org/wiki/Gloss...=vig: Vigorish abbr.,burn, put a contract out.),

but in the end assuming $1.1M net, net of all costs, that's a very good ROI relative to other money cleaning operations.

Some might say it's practically "risk free" since Irvine property values ONLY go one way EVER...
 
Both sides of the same coin.

As to the "Why.." question, I defer to the many recent arrivals here in Irvine to answer definitely.
 
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