Newer Irvine listings with crazy WTF asking prices from equity sellers

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irvinehomeowner said:
When did this thread become crazy prices that people *are* paying?

So hard to be a buyer in Irvine right now.


It is tough. I started casually browsing November 2020 and then decided to shelf it due to life changes. I started seriously looking September of this year with a goal to be in the new place by Spring 2022. Boy did I miss the boat, the house size/price range I am shooting for are now all 300k more. If this continues I?ll be priced out. Out of desperation we signed up for a waitlist for Sierra in Portola Springs, though I really dislike Portola Springs.
 
foodisgood said:
irvinehomeowner said:
When did this thread become crazy prices that people *are* paying?

So hard to be a buyer in Irvine right now.


It is tough. I started casually browsing November 2020 and then decided to shelf it due to life changes. I started seriously looking September of this year with a goal to be in the new place by Spring 2022. Boy did I miss the boat, the house size/price range I am shooting for are now all 300k more. If this continues I?ll be priced out. Out of desperation we signed up for a waitlist for Sierra in Portola Springs, though I really dislike Portola Springs.

We also started looking in September. We first started checking out Serrano Summit and were set on buying Soria. But then we checked out Bluffs at Portola Springs, and my wife just loves the area, so we got on the Bluffs waitlist and later on Highland waitlist as well. Just thinking about what we could have got if we started looking 2-3 months earlier makes me sick to my stomach. A Highland 1 (released end of September) with view/privacy lot, with a lot 200 sq ft larger than the one that is to be released in the next phase, costs the same. And we probably won't even get it in the next release. A couple releases later, it's going to cost $50k more.  :(
 
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We also started looking in September. We first started checking out Serrano Summit and were set on buying Soria. But then we checked out Bluffs at Portola Springs, and my wife just loves the area, so we got on the Bluffs waitlist and later on Highland waitlist as well. Just thinking about what we could have got if we started looking 2-3 months earlier makes me sick to my stomach. A Highland 1 (released end of September) with view/privacy lot, with a lot 200 sq ft larger than the one that is to be released in the next phase, costs the same. And we probably won't even get it in the next release. A couple releases later, it's going to cost $50k more.  :(
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Yes - it?s definitely hard to stomach. The houses I favorited last year were around 1.2 and now it?s pushing 1.5, 6, 7.
Portola Springs I?ve had trouble liking because it so far inland and so dry. I might have to get over it. As an long time Irvine resident, I have a bias against Portola. But will that matter for resale to outsiders? I also don?t understand the Eastwood premium over Stonegate which is only a couple years older.
 

We also started looking in September. We first started checking out Serrano Summit and were set on buying Soria. But then we checked out Bluffs at Portola Springs, and my wife just loves the area, so we got on the Bluffs waitlist and later on Highland waitlist as well. Just thinking about what we could have got if we started looking 2-3 months earlier makes me sick to my stomach. A Highland 1 (released end of September) with view/privacy lot, with a lot 200 sq ft larger than the one that is to be released in the next phase, costs the same. And we probably won't even get it in the next release. A couple releases later, it's going to cost $50k more.  :(
[/quote]

Yes - it?s definitely hard to stomach. The houses I favorited last year were around 1.2 and now it?s pushing 1.5, 6, 7.
Portola Springs I?ve had trouble liking because it so far inland and so dry. I might have to get over it. As an long time Irvine resident, I have a bias against Portola. But will that matter for resale to outsiders? I also don?t understand the Eastwood premium over Stonegate which is only a couple years older.
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If it made you feel any better, I was really close to buying Highland when it first opened (1.3 mil ish) but backed out when i found out Highland is not a traditional SFR but rather a a quasi SFR. My other half doesnt like how far it is from nearby town center.  As long time Irvine resident, PS feels little out there for me.

I live in Woodbury, lots of my neighbors complain about how far they have to drive their kids to Portola HS. This is the main reason I think Eastwood holds a premium over Stone and Wood. Northwood HS is only 5-10 min walk. Also it is a newer neighborhood without any apartment complex.  IMO renters are in a different league when it comes to driving and taking care of their hood.
 
foodisgood said:
irvinehomeowner said:
When did this thread become crazy prices that people *are* paying?

So hard to be a buyer in Irvine right now.


It is tough. I started casually browsing November 2020 and then decided to shelf it due to life changes. I started seriously looking September of this year with a goal to be in the new place by Spring 2022. Boy did I miss the boat, the house size/price range I am shooting for are now all 300k more. If this continues I?ll be priced out. Out of desperation we signed up for a waitlist for Sierra in Portola Springs, though I really dislike Portola Springs.

History doesn't repeat itself, but it sure does rhyme.
 
Is this for real? $520k over listing price

https://www.redfin.com/CA/Irvine/19482-Sierra-Raton-Rd-92603/home/4740152?600390594=copy_variant&231528114=control&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet
 
Danimal said:
Is this for real? $520k over listing price

https://www.redfin.com/CA/Irvine/19482-Sierra-Raton-Rd-92603/home/4740152?600390594=copy_variant&231528114=control&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet

Hardcourts does auction style listings so that's why it sold $520k over list price.  There's no risk of under listing a home in this market.
 
sleepy5136 said:
Danimal said:
Is this for real? $520k over listing price

https://www.redfin.com/CA/Irvine/19482-Sierra-Raton-Rd-92603/home/4740152?600390594=copy_variant&231528114=control&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet
Can't be as bad as this onehttps://www.redfin.com/CA/Irvine/8-Elderberry-92603/home/4743845.Smaller lot and way more outdated asking for 2m.

And 3 bedrooms vs. 4 bedrooms for the other one.
 
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

Just ?toured? this home to see the floor plan since it was open house today. Giant waste of time. Realtor was late, the kids were still asleep in the rooms. They were not prepared for an open house today (and I think it?s being cancelled now). I believe there?s closer to 6-10 people (counting girlfriends who stopped by during the open house and the makeshift bedroom that they converted the conservatory into) actually living in the home plus a dog(s??). The home is a mess. Stains on the ceiling, dog poop all over the backyard, no maintenance has been done on this home in years. $4,600 a month is a steal for rent though!
 
Ariya said:
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

Just ?toured? this home to see the floor plan since it was open house today. Giant waste of time. Realtor was late, the kids were still asleep in the rooms. They were not prepared for an open house today (and I think it?s being cancelled now). I believe there?s closer to 6-10 people (counting girlfriends who stopped by during the open house and the makeshift bedroom that they converted the conservatory into) actually living in the home plus a dog(s??). The home is a mess. Stains on the ceiling, dog poop all over the backyard, no maintenance has been done on this home in years. $4,600 a month is a steal for rent though!

Sounds like this is sitting on the market for 100 days. No one is paying a record price and premium for a bad and messy tenant that is in the house for 9 more months.
 
USCTrojanCPA said:
box said:
aquabliss said:
$2.3M view lot in PS with no landscaping... over under days on market?https://www.redfin.com/CA/IRVINE/127-CHRONOLOGY-92618/home/143909502

That might be one of the best lots in that area of Portola Springs...5000+ sq ft, view lot (no house behind), only have a neighbor on one side, sits next to a small green belt w/ bench looking out on the view (I was there once when checking out this neighborhood).

> $700/sq ft though...will be interesting to see how long this one lasts.

Given the lack of inventory, it will most likely sell for over list price.

Didn't sell for that so now it's pending after price was raised to over 2.4 million.
 
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