Newer Irvine listings with crazy WTF asking prices from equity sellers

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USCTrojanCPA said:
Irvinehomeseeker said:
USCTrojanCPA said:
sleepy5136 said:
https://www.redfin.com/CA/Irvine/140-San-Benito-92603/home/176995325

Is there a reason that I?m not aware of to justify this detached condo to be worth 1k+ sqft?
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Because South of the 405???
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But still...2M or 1000$/sqt for a 3 BDR detached condo?  I can understand the proximity to The Spectrum...not so sure about being zoned to Uni High being such big thing. All almost 2M for a detached condo with no driveway seems like lot. But then buyers from Northern CA have deep pockets and with stock market beating records each day, it may also sell soon!
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Yeah, $1000/sf is crazy for that 3bd detached condo.
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This is Barcelona by IP. Crazy as it may sound, these were selling at the low 1 million (~1.2 M) around the May time frame of last year when I was looking. I believe this area has a shortage of SFR and detached condos, as most of the residential offerings around the Spectrum mall are rental apartments. But even with a Mountain View, I think $1000/sqft is obscene.
 
aquabliss said:
But guys, according to the description (and I quote) ?This property at the backyard no neighbors will more private.?
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;D ;D I see it all makes perfect sense now. And don?t forget about the motor court that?s is shared by 8 homes. The more the merrier
 
aquabliss said:
Any bets on when the first OH Strata resell closes over $2M?  Getting closer:https://www.redfin.com/CA/Irvine/79-Bountiful-92602/home/112718659
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This former model home might actually be the one.

This one just sold for $1.9M or $115K over listhttps://www.redfin.com/CA/Irvine/127-Iron-Horse-92602/home/108244569

These are currently in escrow:https://www.redfin.com/CA/Irvine/53-Horseshoe-92602/home/112718849- this one has a "bargain" list price but what will it sell for?https://www.redfin.com/CA/Irvine/124-Iron-Horse-92602/home/112718860

Stay tuned
 
USCTrojanCPA said:
TestingIrvine said:
USCTrojanCPA said:
TestingIrvine said:
USCTrojanCPA said:
Some sellers are only listing to test how crazy the market is, at least that's what I think with this listing unless they really think the condo is worth $1.4m but then they have no sense of reality.
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Delano sold for $1.3M high $500psf rate.
This is a bigger home (low $500psf rate).

4 bedrooms sell at a massive premium even if they are attached condos. This is the reality of Irvine.

Those two kid families need that office / 4th room to work out of.
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Well let's see....Delano is a 2-level condo with the living area on the ground floor with a side yard and relatively low Mello Roos.  The Novel Park condo is 3-levels with no yard and very high Mello Roos.  It's an apples to oranges comparison.
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A 4bed home 2,200sqft home less than $1.4M is really hard to find.  This home will sell at list price.

Any 4bed home less than $1.2M is hard to find.
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Let's make a friendly wager.  If it sells for $1.4m or more you win and if it sells for below $1.4m I win.  The bet is $100 paid by the loser to the winner's choice of charity.
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This is under contract within 10 days. Prob sold at or more than listing.

Irvine is on fire.

Home:
https://www.redfin.com/CA/Irvine/356-Novel-92618/home/173025239?1280460695=variant&600390594=copy_variant&231528114=control&1077477207=variant&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet
 
Yeah, unfortunately, Irvine is not slowing down as I had hoped. IP is releasing new homes for Bluffs and Highland. Seems like Bluffs is increasing by $10k and Highland by $20k on the next release. We're probably still 3-5 months away on the wait list. That's at least another $50k increase before our turn. I was hoping it would slow down with holidays coming up, but it's not.  :(
 
USCTrojanCPA said:
TestingIrvine said:
USCTrojanCPA said:
TestingIrvine said:
USCTrojanCPA said:
Some sellers are only listing to test how crazy the market is, at least that's what I think with this listing unless they really think the condo is worth $1.4m but then they have no sense of reality.
Click to expand...

Delano sold for $1.3M high $500psf rate.
This is a bigger home (low $500psf rate).

4 bedrooms sell at a massive premium even if they are attached condos. This is the reality of Irvine.

Those two kid families need that office / 4th room to work out of.
Click to expand...

Well let's see....Delano is a 2-level condo with the living area on the ground floor with a side yard and relatively low Mello Roos.  The Novel Park condo is 3-levels with no yard and very high Mello Roos.  It's an apples to oranges comparison.
Click to expand...

A 4bed home 2,200sqft home less than $1.4M is really hard to find.  This home will sell at list price.

:)Any 4bed home less than $1.2M is hard to find.
Click to expand...

Let's make a friendly wager.  If it sells for $1.4m or more you win and if it sells for below $1.4m I win.  The bet is $100 paid by the loser to the winner's choice of charity.
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Ohhhh, it might surprise us all. Martin might have to pay up. :)
 
have not checked Irvine real estate market for a while. It seems like inventory is super low? There is no home for sale at all at the Stonegate Village? from 1 BR attached condo to 4k+ sqft SFRs? nada? how is this possible?
 
The California Court Company said:
have not checked Irvine real estate market for a while. It seems like inventory is super low? There is no home for sale at all at the Stonegate Village? from 1 BR attached condo to 4k+ sqft SFRs? nada? how is this possible?
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There are decent number of homes for sales but they all sold in a blink of an eye, hence very low number of homes actually linger on Redfin listings. 

If you list a Saratoga right now, it will get offers within few hours of listing if it is reasonably priced and sold before the actual open house.
 
lnc said:
The California Court Company said:
have not checked Irvine real estate market for a while. It seems like inventory is super low? There is no home for sale at all at the Stonegate Village? from 1 BR attached condo to 4k+ sqft SFRs? nada? how is this possible?
Click to expand...

There are decent number of homes for sales but they all sold in a blink of an eye, hence very low number of homes actually linger on Redfin listings. 

If you list a Saratoga right now, it will get offers within few hours of listing if it is reasonably priced and sold before the actual open house.
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Exactly, there's been lots of listings this year but the buyer demand is swamping the supply because homes are flying into escrow within a week so there's no time for inventory to build up.
 
Cares said:
Priced at $1,950,000. This would be a record sale in Cypress Village with the closest being $1.8M and 2889 sqft. This one is not only $150k higher but also 200 sqft smaller.

The cherry on top of this is that there is a tenant until August 2022 that is only paying $5000 per month.
https://www.redfin.com/CA/Irvine/102-Crimson-Oak-92620/home/105485869
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The funny part is that Redfin estimates the value at $1.935m...those guestimates are a complete joke.
 
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