Newer Irvine listings with crazy WTF asking prices from equity sellers
- Thread starter usctrojancpa
- Start date
NEW -> Contingent Buyer Assistance Program
I am also seeing some price drops and increase in Days on Market. May be ppl are fatigued by the increased prices? But interest rates are still low...
Here's data for median sales price and DOM for total MLS, OC, and Irvine. It is 1 month lagged data though but I don't expect July to be too different from June.
Sales price (MLS down, OC flat, Irvine up)https://i.imgur.com/ucY3A1d.jpg
DOM (still around 7 DOM for all)https://i.imgur.com/trXTyzF.jpg
Sellers are listing their homes for higher and higher prices so we'll begin to see overpriced homes sit on the market as more and more buyers get priced out of the market for the time being. This is exactly how the last big run-up in 2013 ended after prices went up about 20%. Homes that are priced right and show well still fly into escrow with multiple offers.
Sounds like more maintenance to me rather then cool lol.
The Motor Court Company
Well-known member
6 million is well worth it, as it is the furthest from the landfill and Asphalt. Wondering any sucker made big from cryptos will park their money with this one.
Goriot said:
melodypowell
New member
Wrong link, I meant to ask about this one
https://www.redfin.com/CA/Irvine/5041-Berean-Ln-92603/home/4737912?utm_source=android_share&utm_medium=share&utm_nooverride=1&utm_content=link&2010988919=control
https://www.redfin.com/CA/Irvine/5041-Berean-Ln-92603/home/4737912?utm_source=android_share&utm_medium=share&utm_nooverride=1&utm_content=link&2010988919=control
aquabliss said:
usctrojancpa
Well-known member
Not in Irvine but I almost fell off my couch when I was this listing in Foothill Ranch...
https://www.redfin.com/CA/Foothill-Ranch/16-Alamitos-92610/home/4797961
Over $640/sf in Foothill Ranch? Yeah, keep dreaming...the market is strong but not that stupid.
https://www.redfin.com/CA/Foothill-Ranch/16-Alamitos-92610/home/4797961
Over $640/sf in Foothill Ranch? Yeah, keep dreaming...the market is strong but not that stupid.
Irvinehomeseeker
Active member
akula1488 said:
I am also seeing some price drops and increase in Days on Market. May be ppl are fatigued by the increased prices? But interest rates are still low...
Irvinehomeseeker said:
Here's data for median sales price and DOM for total MLS, OC, and Irvine. It is 1 month lagged data though but I don't expect July to be too different from June.
Sales price (MLS down, OC flat, Irvine up)https://i.imgur.com/ucY3A1d.jpg
DOM (still around 7 DOM for all)https://i.imgur.com/trXTyzF.jpg
usctrojancpa
Well-known member
Irvinehomeseeker said:
Sellers are listing their homes for higher and higher prices so we'll begin to see overpriced homes sit on the market as more and more buyers get priced out of the market for the time being. This is exactly how the last big run-up in 2013 ended after prices went up about 20%. Homes that are priced right and show well still fly into escrow with multiple offers.
https://www.corcoran.com/southern-c...le/irvine/129-bosque-irvine-ca-92618/58534299
a 3k sq ft 3 story house has an elevator in it? HM did the builders charge for this spec... doesn't seem practical but that's pretty cool.
a 3k sq ft 3 story house has an elevator in it? HM did the builders charge for this spec... doesn't seem practical but that's pretty cool.
sleepy5136
Well-known member
CLB_srA said:
Sounds like more maintenance to me rather then cool lol.
The Motor Court Company
Well-known member
3 story detached condo at 1.5M? this is suburban Orange County, not Bay Area, LA, SF or NYC...absurd.
The Obsidians facing the Bosque usually try for a view lot premium price. 111 Bosque tried the same, listed at 1.43 and sold for 1.24 in 2019. https://www.zillow.com/homedetails/111-Bosque-Irvine-CA-92618/2085350272_zpid/
Floorplan appeals to young adults w/o kids. The elevator is tiny.
Floorplan appeals to young adults w/o kids. The elevator is tiny.
Oh wow. $6.4 million Alta Vista non-model under contract. I think first sale to be $6+ million in Grove area.
Getting close to some of Shady Canyon prices. I think buyers forgot about the wild fires already.
https://www.redfin.com/CA/Irvine/111-Dry-Crk-92602/home/143911423
Getting close to some of Shady Canyon prices. I think buyers forgot about the wild fires already.
https://www.redfin.com/CA/Irvine/111-Dry-Crk-92602/home/143911423
sgip
Well-known member
Plenty of real buyers committed to making a go of it in these high priced communities. You can tell when landscaping is customized or the home is lived in that it's a real buy, and a real sell. On the other side of the scale, there's an ocean of nice untraceable, lightly taxed cash flowing through many new construction communities right now and to be clear, this just doesn't happen only in Irvine.
Buy in one year, sell in two = MAX ROI!!!!
Buy in one year, sell in two = MAX ROI!!!!