Newer Irvine listings with crazy WTF asking prices from equity sellers

NEW -> Contingent Buyer Assistance Program
One of them has a mortgage of $2+M. That's a big leverage play right there with real estate.
Yes, and no.

$2m on an IO loan at 8.0% is about $13,300 each month.

If you close in September and have a November 1st payment, you might make that one, and a December payment before the next "bigger fool" closes on their deal - a $26-$28k risk cost.
 
Pretty incredible. I can't find any pictures of the inside. It's a 1/3rd acre lot with a view towards the west in Turtle Rock walking distance from a top elementary and high school. That's approaching unicorn rarity.

I imagine they'll scrape the lot and building something new similar to the neighbor at 18731 Via Palatino. What's the total cost of construction in Irvine these days? $400/sqft? Put something there with 4,500 sqft and the buyer is in for about $5.5M. Tough to see a profit if the plan is to sell as a spec build. Should be a nice house to live in if that's the plan and money isn't an issue. Congrats to the buyer's agent, Ms. Chu.
 
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I wonder if these homes in Irvine will continue to sell for the price they do when it comes to a point where insurance will not be covered by private companies and are relying on fair plan.
 
yea so it goes back to my point. what will Irvine pricing be in the near future if a significant amount of homes are considered a high fire hazard? will prices not grow as much? Or will it be down? Something to think about when buying in Irvine. Maybe it won’t matter because most of the owners in Irvine are FCB.
 
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