Newer Irvine listings with crazy WTF asking prices from equity sellers
- Thread starter usctrojancpa
- Start date
NEW -> Contingent Buyer Assistance Program
I'm stealing this.
I guess the word already existed.
https://www.urbandictionary.com/define.php?term=Fitster
No idea. There?s all sorts of design stuff out there so who knows what stays, what goes, and what comes back. But isn?t that part of the homeownership fun (and expense)? To remodel a space every so often with a refresh of trends?
Scrolled through redfin recent sales in that area and found this
https://www.redfin.com/CA/Irvine/101-Preserve-92618/home/112725712
$761 per sqft. this is Jan 31, 2019 so as fresh a comp as can be
2.79 in Dec 2015 to 4.15 in Jan 2019 -- basically 3y holding period . assume 500k of upgrades and landscaping etc and 160k for commissions -- still leaves a decent 700k in profit -- not a bad 25% return even if one assumes it was all cash and not leveraged
What do people / domain experts think ?
We were pretty attracted to this kind of home back in 2015 when they were first building... I think it's called Willow? Nice floor plans and price points but in the end, those extra stories and tandem garage killed any sort of interest once you start comparing other homes.
From experience with TB in Norcal with houses priced a third of these, you can get your kitchen in any shape or form you want (they had 30 or so cabinet colors). It's just going to cost a lot of $$, for example they were charging $20K to get the cabinets to the ceiling.
Just like with equities and interest rates , I find it best to let market and data dictate what something is worth
Looks like the consensus is we are in a housing slowdown- so if we are clearing at these levels in a negative market backdrop , barring any type of money laundering or fraud type activity , this is what I would consider part of ?hard data ?
Yeah, it could be fun. The current trend seems to be tri-level with no yard and the exterior looking like Hoag's hospital.
irvinehomeowner
Well-known member
Mety said:
I'm stealing this.
irvinehomeowner said:
I guess the word already existed.
https://www.urbandictionary.com/define.php?term=FitsterMety said:irvinehomeowner said:
I guess the word already existed.
Mety said:You don't think this will make a comeback?
No idea. There?s all sorts of design stuff out there so who knows what stays, what goes, and what comes back. But isn?t that part of the homeownership fun (and expense)? To remodel a space every so often with a refresh of trends?
bones said:
Scrolled through redfin recent sales in that area and found this
https://www.redfin.com/CA/Irvine/101-Preserve-92618/home/112725712
$761 per sqft. this is Jan 31, 2019 so as fresh a comp as can be
2.79 in Dec 2015 to 4.15 in Jan 2019 -- basically 3y holding period . assume 500k of upgrades and landscaping etc and 160k for commissions -- still leaves a decent 700k in profit -- not a bad 25% return even if one assumes it was all cash and not leveraged
What do people / domain experts think ?
B2FiNiTY
Active member
marmott said:
We were pretty attracted to this kind of home back in 2015 when they were first building... I think it's called Willow? Nice floor plans and price points but in the end, those extra stories and tandem garage killed any sort of interest once you start comparing other homes.
irvinehomeowner
Well-known member
Wow... Hidden Canyon for $4m+?
I thought they were high at $2m+.
Laguna Altura and HC are crazy.
I thought they were high at $2m+.
Laguna Altura and HC are crazy.
marmott
Active member
bones said:
From experience with TB in Norcal with houses priced a third of these, you can get your kitchen in any shape or form you want (they had 30 or so cabinet colors). It's just going to cost a lot of $$, for example they were charging $20K to get the cabinets to the ceiling.
irvinehomeowner said:
Just like with equities and interest rates , I find it best to let market and data dictate what something is worth
Looks like the consensus is we are in a housing slowdown- so if we are clearing at these levels in a negative market backdrop , barring any type of money laundering or fraud type activity , this is what I would consider part of ?hard data ?
bones said:Mety said:You don't think this will make a comeback?
No idea. There?s all sorts of design stuff out there so who knows what stays, what goes, and what comes back. But isn?t that part of the homeownership fun (and expense)? To remodel a space every so often with a refresh of trends?
Yeah, it could be fun. The current trend seems to be tri-level with no yard and the exterior looking like Hoag's hospital.
usctrojancpa
Well-known member
OMG, my eyes hurt looking at the downstairs flooring on this listing...
https://www.redfin.com/CA/Irvine/49-Lupari-92618/home/51681152
Over $650/sf for basically ZERO upgrades? Someone send a memo to the listing agent and seller the market is soft for homes for over $1m in Irvine. haha
https://www.redfin.com/CA/Irvine/49-Lupari-92618/home/51681152
Over $650/sf for basically ZERO upgrades? Someone send a memo to the listing agent and seller the market is soft for homes for over $1m in Irvine. haha