Newer Irvine listings with crazy WTF asking prices from equity sellers

[zubs]

Don't banks require houses to be fully finished before they fund a loan?
A lot of new buyers don't upgrade their house through the builder because they can get it done cheaper by aftermarket contractors.


Plus you don't pay the extra property taxes for a more expensive house.

 

[akkord]

@mety exactly what zubs said

A 10k flooring job is 20k through the builder and you have to pay the property tax on that 20k and all the other upgrades that went through the builder. We had asked if we could just pay upfront on certain upgrades to keep builder warranty w/o increasing the price of the house, they said no.

We also asked if the builder could leave the flooring unfinished to save on the demo cost & dust from removing tile/carpet, but bank said they wouldn't close on the loan. Worked out for us since we didn't do anything post close and sold the house a couple years later.

Don't banks require houses to be fully finished before they fund a loan?
A lot of new buyers don't upgrade their house through the builder because they can get it done cheaper by aftermarket contractors.

Plus you don't pay the extra property taxes for a more expensive house.

 

[marmott]

I know of one builder that allowed my friend to hire their electrician pre dry wall to add recessed lights without going through the design center, effectively avoiding the builder tax.

To be honest it never crossed my mind to even ask the builders we dealt with. Maybe next time.

edit: And by "their electrician", I mean the builder's contractor.

 

[Mety]

@mety exactly what zubs said

A 10k flooring job is 20k through the builder and you have to pay the property tax on that 20k and all the other upgrades that went through the builder. We had asked if we could just pay upfront on certain upgrades to keep builder warranty w/o increasing the price of the house, they said no.

We also asked if the builder could leave the flooring unfinished to save on the demo cost & dust from removing tile/carpet, but bank said they wouldn't close on the loan. Worked out for us since we didn't do anything post close and sold the house a couple years later.

Don't banks require houses to be fully finished before they fund a loan?
A lot of new buyers don't upgrade their house through the builder because they can get it done cheaper by aftermarket contractors.

Plus you don't pay the extra property taxes for a more expensive house.

I know you can find cheaper contractors outside the builder and also there will be less tax each year. But at today's market, I think you can kinda ask for more upgrades. So if the builder gives you incentives and upgrades, then you might not even have to hire an extra contractor for flooring or countertop jobs. If it was a move-in ready home already built, then yes you have to rip out, but I was asking if Cares had a chance to ask for upgrades to the builder as incentives. I know he said they were sort of ignorant when he was asking for the mortgage interest rates so maybe they didn't even bother giving incentives?

 

[usctrojancpa]

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

That kitchen is too sad. They didn't even opt for a basic back splash. And yeah basic tile in the kitchen and bathrooms...jeez.

On the positive note, those are the reasons you can ask for discounts!

I will try to remember this silver lining someday *IF*I ever have a budget of over $1 million  ;D In my mind though I just feel like if I'm at that point and can spend that kind of money on a house I would want some basic upgrades like a back splash.

We're currently ripping out our entirely brand new house flooring and kitchen countertops to put in new flooring and backsplash. It's wasteful to me but that's what the wife wants.

Happy wife, happy life...correct? 

 

[irvineband]

Listen I love WB but 200,000 appreciation in one year? It sold for 1.2 last year and its listed at 1.4 now.

https://www.redfin.com/CA/Irvine/12-Bluejay-92604/home/4686911?utm_source=ios_share&utm_medium=share&utm_campaign=copy_link&utm_nooverride=1&utm_content=link

 

[irvineprospect]

https://www.redfin.com/CA/Irvine/2-Pintail-92604/home/4687684

I thought $2.5M would belong here.  But maybe not?
https://goo.gl/maps/bZ1KJBTUdzy
hmmmm....  FCB fresh off the bus, walking in the middle of the road instead of the sidewalk, no less?

 

[Mety]

Listen I love WB but 200,000 appreciation in one year? It sold for 1.2 last year and its listed at 1.4 now.

https://www.redfin.com/CA/Irvine/12-Bluejay-92604/home/4686911?utm_source=ios_share&utm_medium=share&utm_campaign=copy_link&utm_nooverride=1&utm_content=link

WB is Woodbury. Please use Wbridge or something for Woodbridge.
Another confusing one is PP. PP is for Pavilion Park. Please use ParP for Parasol Park.
Thanks.

 

[paydawg]

Listen I love WB but 200,000 appreciation in one year? It sold for 1.2 last year and its listed at 1.4 now.

https://www.redfin.com/CA/Irvine/12-Bluejay-92604/home/4686911?utm_source=ios_share&utm_medium=share&utm_campaign=copy_link&utm_nooverride=1&utm_content=link

WB is Woodbury. Please use Wbridge or something for Woodbridge.
Another confusing one is PP. PP is for Pavilion Park. Please use ParP for Parasol Park.
Thanks.

And please use OverPriced for Cadence Park. 
Thanks.

 

[usctrojancpa]

Listen I love WB but 200,000 appreciation in one year? It sold for 1.2 last year and its listed at 1.4 now.

https://www.redfin.com/CA/Irvine/12-Bluejay-92604/home/4686911?utm_source=ios_share&utm_medium=share&utm_campaign=copy_link&utm_nooverride=1&utm_content=link

WB is Woodbury. Please use Wbridge or something for Woodbridge.
Another confusing one is PP. PP is for Pavilion Park. Please use ParP for Parasol Park.
Thanks.

On MLS....WD = Woodbury  WB = Woodbridge  GP = Pavilion Park, Beacon Park, Cadence Park, and Altair. 

 

[Mety]

Listen I love WB but 200,000 appreciation in one year? It sold for 1.2 last year and its listed at 1.4 now.

https://www.redfin.com/CA/Irvine/12-Bluejay-92604/home/4686911?utm_source=ios_share&utm_medium=share&utm_campaign=copy_link&utm_nooverride=1&utm_content=link

WB is Woodbury. Please use Wbridge or something for Woodbridge.
Another confusing one is PP. PP is for Pavilion Park. Please use ParP for Parasol Park.
Thanks.

And please use OverPriced for Cadence Park. 
Thanks.

How about DontBuy? Oops. 

 

[irvineband]

nice correction of mr. snooty snoots

 

[bones]

https://www.redfin.com/CA/Irvine/123-Calderon-92618/home/108244852?utm_source=ios_share&utm_medium=share&utm_campaign=copy_link&utm_nooverride=1&utm_content=link

$786 PSF in the great park. No backyard pictures.

 

[irvinebullhousing]

https://www.redfin.com/CA/Irvine/123-Calderon-92618/home/108244852?utm_source=ios_share&utm_medium=share&utm_campaign=copy_link&utm_nooverride=1&utm_content=link

$786 PSF in the great park. No backyard pictures.

Dillusional, wishful thinking. Not going to happen.

 

[Ready2Downsize]

https://www.redfin.com/CA/Irvine/123-Calderon-92618/home/108244852?utm_source=ios_share&utm_medium=share&utm_campaign=copy_link&utm_nooverride=1&utm_content=link

$786 PSF in the great park. No backyard pictures.

Dillusional, wishful thinking. Not going to happen.

If someone is stupid enough to pay that, they can look forward to property taxes of $1000 per week, going up 2% a year.

 

[marmott]

It's funny because Zillow lists Cathy Cheng (current listing agent) as the buyers agent when they bought the place in June 2016 for $2,015,000 ($431/sqft).

Delusional for sure...

 

[usctrojancpa]

It's funny because Zillow lists Cathy Cheng (current listing agent) as the buyers agent when they bought the place in June 2016 for $2,015,000 ($431/sqft).

Delusional for sure...

That's just a complete waste of MLS space.  Not sure what planet the seller and listing agent are but it's not earth. Some of the upgrade choices are questionable and what's up with all of the sheer drapes?  haha

 

[irvine buyer]

Those sheer drapes are popular with mainland Chinese.  In fact, interior design/furniture very much like homes in China.

 

[usctrojancpa]

Those sheer drapes are popular with mainland Chinese.  In fact, interior design/furniture very much like homes in China.

Guess they are looking for a Chinese cash buyer who will not check out the comps, good luck with that.

 

[moc]

https://www.redfin.com/CA/Irvine/123-Calderon-92618/home/108244852?utm_source=ios_share&utm_medium=share&utm_campaign=copy_link&utm_nooverride=1&utm_content=link

$786 PSF in the great park. No backyard pictures.

Dillusional, wishful thinking. Not going to happen.

What the hell. Also that double island thing in the kitchen is weird and bad and the carpet in the bedrooms doesn't look great either. This is insane.