Newer Irvine listings with crazy WTF asking prices from equity sellers

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I feel that price per sqt is relevant only in a certain price range. When I looked at recent sales in Eastwood, I have seen prices as  high as 680$ per sqt  very commonly with final sale price upto 1.25M( Helena, Delano, Petaluma). At final sale price of 1.7M and above, they have generally been around 600$ per  sqt ( Calistoga, Morro).
 
Irvinehomeseeker said:
New listing in Eastwood at ~750$ per sqt for a 2500 Sqt "true" SFR with just 3800 sqt lot - $1,850,000. If it sells at this price, then it will beat all records  may be ?? It will interesting to see how soon it goes pending or will it?
https://www.redfin.com/CA/Irvine/128-Pewter-92620/home/112724579

Owner is looking to gain over 600K in less than 5 years. If owner priced atleast 100k less, could have avoided property taxes on gains....
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You do know it?s better to get that extra $100k and pay $40k in taxes and keep an additional $60k right??
 
qwerty said:
Irvinehomeseeker said:
New listing in Eastwood at ~750$ per sqt for a 2500 Sqt "true" SFR with just 3800 sqt lot - $1,850,000. If it sells at this price, then it will beat all records  may be ?? It will interesting to see how soon it goes pending or will it?
https://www.redfin.com/CA/Irvine/128-Pewter-92620/home/112724579

Owner is looking to gain over 600K in less than 5 years. If owner priced atleast 100k less, could have avoided property taxes on gains....
Click to expand...

You do know it?s better to get that extra $100k and pay $40k in taxes and keep an additional $60k right??
Click to expand...

Right and agree!  Just that 500K number came to mind.
 
Irvinehomeseeker said:
New listing in Eastwood at ~750$ per sqt for a 2500 Sqt "true" SFR with just 3800 sqt lot - $1,850,000. If it sells at this price, then it will beat all records  may be ?? It will interesting to see how soon it goes pending or will it?
https://www.redfin.com/CA/Irvine/128-Pewter-92620/home/112724579

Owner is looking to gain over 600K in less than 5 years. If owner priced atleast 100k less, could have avoided property taxes on gains....
Click to expand...

You also have closing costs on the buy and sell side plus landscaping and upgrade costs so that $600k gain will turn into less than a $500k gain.
 
so dense! like a pack of sardines. I like my new place better and better every day.

Irvinehomeseeker said:
qwerty said:
Irvinehomeseeker said:
New listing in Eastwood at ~750$ per sqt for a 2500 Sqt "true" SFR with just 3800 sqt lot - $1,850,000. If it sells at this price, then it will beat all records  may be ?? It will interesting to see how soon it goes pending or will it?
https://www.redfin.com/CA/Irvine/128-Pewter-92620/home/112724579

Owner is looking to gain over 600K in less than 5 years. If owner priced atleast 100k less, could have avoided property taxes on gains....
Click to expand...

You do know it?s better to get that extra $100k and pay $40k in taxes and keep an additional $60k right??
Click to expand...

Right and agree!  Just that 500K number came to mind.
Click to expand...
 
Irvinehomeseeker said:
New listing in Eastwood at ~750$ per sqt for a 2500 Sqt "true" SFR with just 3800 sqt lot - $1,850,000. If it sells at this price, then it will beat all records  may be ?? It will interesting to see how soon it goes pending or will it?
https://www.redfin.com/CA/Irvine/128-Pewter-92620/home/112724579

Owner is looking to gain over 600K in less than 5 years. If owner priced atleast 100k less, could have avoided property taxes on gains....
Click to expand...

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We bought new in Eastwood and to my disappointment after moving in, found out half our street is owned by foreign investors (China) and they lease out (short term rentals). Since the market is so hot, they are selling for profit. I'm hoping new buyers will be owner occupied.
 
Sidehussle said:
We bought new in Eastwood and to my disappointment after moving in, found out half our street is owned by foreign investors (China) and they lease out (short term rentals). Since the market is so hot, they are selling for profit. I'm hoping new buyers will be owner occupied.
Click to expand...

I can completely understand this. It was a big nuisance with my next door house being an short term rental...luckily they stopped it when covid started....but man that was so annoying. I also hope that new folks moving into EW are owners not investors. I can see that EW is getting more diverse since last 1-2 years, which is very nice to see.
 
trematix said:
if that goes for $1.85, im throwing in the towel
Click to expand...

Looking at the upgrades and the location of this EW SFR across the EW paseo or walkway, i have a feeling that this may sell at the list price of 1.85M or atleast 1.8M. Planning to see the Open house today.
 
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