Newer Irvine listings with crazy WTF asking prices from equity sellers

[sleepy5136]

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.

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.

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.

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.

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.

https://www.redfin.com/CA/Irvine/356-Novel-92618/home/173025239
Sold for 1.5m.... 100k over asking...

So Martin and I were wrong here. Congrats TestingIrvine.

 

[TestingIrvine]

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.

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.

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.

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.

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.

https://www.redfin.com/CA/Irvine/356-Novel-92618/home/173025239
Sold for 1.5m.... 100k over asking...

So Martin and I were wrong here. Congrats TestingIrvine.

Martin shouldn?t call any home over-priced, especially when he?s willing to double down with a wager LOL

Over-priced in November = underpriced in December.  Crazy market.

 

[usctrojancpa]

Cypress Village SFR sold for $1,688,888 cash! At just 2200 sqft with the backyard still completely dirt.... $747/sqft is a record price for CV. This is the first home to cross the $700 threshold for this neighborhood.
https://www.redfin.com/CA/Irvine/101-Velvetleaf-92620/home/105486322

Not too shocked about the price per SF given the small size but how the hell did they get away not doing landscaping in their yard for all these years with the HOA?  Did the Cypress Village HOA fine them or did they not care?

 

[usctrojancpa]

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.

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.

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.

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.

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.

https://www.redfin.com/CA/Irvine/356-Novel-92618/home/173025239
Sold for 1.5m.... 100k over asking...

So Martin and I were wrong here. Congrats TestingIrvine.

Martin shouldn?t call any home over-priced, especially when he?s willing to double down with a wager LOL

Over-priced in November = underpriced in December.  Crazy market.

Yeah, that one was a bit surprising.  Which charity would you like me to make that $100 donation to?  A bet is a bet and it's time to pay up.   I guess nothing should surprise me in this market.

 

[The Motor Court Company]

New buyer gets to customize the backyard! Rare opportunity actually

Cypress Village SFR sold for $1,688,888 cash! At just 2200 sqft with the backyard still completely dirt.... $747/sqft is a record price for CV. This is the first home to cross the $700 threshold for this neighborhood.
https://www.redfin.com/CA/Irvine/101-Velvetleaf-92620/home/105486322

Not too shocked about the price per SF given the small size but how the hell did they get away not doing landscaping in their yard for all these years with the HOA?  Did the Cypress Village HOA fine them or did they not care?

 

[TestingIrvine]

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.

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.

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.

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.

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.

https://www.redfin.com/CA/Irvine/356-Novel-92618/home/173025239
Sold for 1.5m.... 100k over asking...

So Martin and I were wrong here. Congrats TestingIrvine.

Martin shouldn?t call any home over-priced, especially when he?s willing to double down with a wager LOL

Over-priced in November = underpriced in December.  Crazy market.

Yeah, that one was a bit surprising.  Which charity would you like me to make that $100 donation to?  A bet is a bet and it's time to pay up.   I guess nothing should surprise me in this market.

Never agreed to the bet formally so doesn?t count.

$747 PSF in CV is nuts. HOA need to do their jobs regulating backyards.  There are too many homes where they don?t complete their backyards and even front yards, such an eyesore.

 

[potsticker]

This one will be interesting to watch:https://www.redfin.com/CA/Irvine/196-Bishop-Lndg-92620/home/143915525

A 2bd/2ba attached condo pushing $900k is insane.

 

[Cares]

Cypress Village SFR sold for $1,688,888 cash! At just 2200 sqft with the backyard still completely dirt.... $747/sqft is a record price for CV. This is the first home to cross the $700 threshold for this neighborhood.
https://www.redfin.com/CA/Irvine/101-Velvetleaf-92620/home/105486322

Not too shocked about the price per SF given the small size but how the hell did they get away not doing landscaping in their yard for all these years with the HOA?  Did the Cypress Village HOA fine them or did they not care?

The owners were from China and only spent a few months in a year there from my conversation with the agent. I don't know how much the HOA fines you but maybe $100 per month fine is cheaper than $10,000 landscaping? Who knows.

But $747/sqft is insane with the next nearest selling at $680? The next similar sized one is also around that price. 10% increase any other comp.

 

[irvinebullhousing]

Cypress Village SFR sold for $1,688,888 cash! At just 2200 sqft with the backyard still completely dirt.... $747/sqft is a record price for CV. This is the first home to cross the $700 threshold for this neighborhood.
https://www.redfin.com/CA/Irvine/101-Velvetleaf-92620/home/105486322

Not too shocked about the price per SF given the small size but how the hell did they get away not doing landscaping in their yard for all these years with the HOA?  Did the Cypress Village HOA fine them or did they not care?

The owners were from China and only spent a few months in a year there from my conversation with the agent. I don't know how much the HOA fines you but maybe $100 per month fine is cheaper than $10,000 landscaping? Who knows.

But $747/sqft is insane with the next nearest selling at $680? The next similar sized one is also around that price. 10% increase any other comp.

Its a feature. They marketed it as a partial farmland / front living with farm in the back. Ready to grow your corns.

 

[usctrojancpa]

Cypress Village SFR sold for $1,688,888 cash! At just 2200 sqft with the backyard still completely dirt.... $747/sqft is a record price for CV. This is the first home to cross the $700 threshold for this neighborhood.
https://www.redfin.com/CA/Irvine/101-Velvetleaf-92620/home/105486322

Not too shocked about the price per SF given the small size but how the hell did they get away not doing landscaping in their yard for all these years with the HOA?  Did the Cypress Village HOA fine them or did they not care?

The owners were from China and only spent a few months in a year there from my conversation with the agent. I don't know how much the HOA fines you but maybe $100 per month fine is cheaper than $10,000 landscaping? Who knows.

But $747/sqft is insane with the next nearest selling at $680? The next similar sized one is also around that price. 10% increase any other comp.

Its a feature. They marketed it as a partial farmland / front living with farm in the back. Ready to grow your corns.

Corn or grow mary jane?  haha

 

[The Motor Court Company]

This one will be interesting to watch:https://www.redfin.com/CA/Irvine/196-Bishop-Lndg-92620/home/143915525

A 2bd/2ba attached condo pushing $900k is insane.

Description is All CAPs. this must be special!

 

[TestingIrvine]

This one will be interesting to watch:https://www.redfin.com/CA/Irvine/196-Bishop-Lndg-92620/home/143915525

A 2bd/2ba attached condo pushing $900k is insane.

Crazy. Considering 70 Parkwood sold for $980K, the $900 list price may sell at list.

https://www.redfin.com/CA/Irvine/70-Parkwood-92602/home/167401774?600390594=copy_variant&231528114=control&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet

 

[usctrojancpa]

This one will be interesting to watch:https://www.redfin.com/CA/Irvine/196-Bishop-Lndg-92620/home/143915525

A 2bd/2ba attached condo pushing $900k is insane.

Description is All CAPs. this must be special!

Steve and Jessica love to use all CAPS along with many ********  haha

 

[usctrojancpa]

This one will be interesting to watch:https://www.redfin.com/CA/Irvine/196-Bishop-Lndg-92620/home/143915525

A 2bd/2ba attached condo pushing $900k is insane.

Crazy. Considering 70 Parkwood sold for $980K, the $900 list price may sell at list.

https://www.redfin.com/CA/Irvine/70-Parkwood-92602/home/167401774?600390594=copy_variant&231528114=control&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet

At least I got it right that Parkwood wouldn't close at $1m+.  haha

 

[The Motor Court Company]

huge difference between 2BR+2BA and 3BR+2BA

This one will be interesting to watch:https://www.redfin.com/CA/Irvine/196-Bishop-Lndg-92620/home/143915525

A 2bd/2ba attached condo pushing $900k is insane.

Crazy. Considering 70 Parkwood sold for $980K, the $900 list price may sell at list.

https://www.redfin.com/CA/Irvine/70-Parkwood-92602/home/167401774?600390594=copy_variant&231528114=control&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet

 

[CalBears96]

Cypress Village SFR sold for $1,688,888 cash! At just 2200 sqft with the backyard still completely dirt.... $747/sqft is a record price for CV. This is the first home to cross the $700 threshold for this neighborhood.
https://www.redfin.com/CA/Irvine/101-Velvetleaf-92620/home/105486322

Not too shocked about the price per SF given the small size but how the hell did they get away not doing landscaping in their yard for all these years with the HOA?  Did the Cypress Village HOA fine them or did they not care?

The owners were from China and only spent a few months in a year there from my conversation with the agent. I don't know how much the HOA fines you but maybe $100 per month fine is cheaper than $10,000 landscaping? Who knows.

But $747/sqft is insane with the next nearest selling at $680? The next similar sized one is also around that price. 10% increase any other comp.

HOA at my rental fined me additional $100 per month, meaning $100 first month, $200 second month, etc., when it took too long for me to replace the front lawn.

 

[The Motor Court Company]

back yard is a different story....all you need is nosy neighbors to report to the HOA

Cypress Village SFR sold for $1,688,888 cash! At just 2200 sqft with the backyard still completely dirt.... $747/sqft is a record price for CV. This is the first home to cross the $700 threshold for this neighborhood.
https://www.redfin.com/CA/Irvine/101-Velvetleaf-92620/home/105486322

Not too shocked about the price per SF given the small size but how the hell did they get away not doing landscaping in their yard for all these years with the HOA?  Did the Cypress Village HOA fine them or did they not care?

The owners were from China and only spent a few months in a year there from my conversation with the agent. I don't know how much the HOA fines you but maybe $100 per month fine is cheaper than $10,000 landscaping? Who knows.

But $747/sqft is insane with the next nearest selling at $680? The next similar sized one is also around that price. 10% increase any other comp.

HOA at my rental fined me additional $100 per month, meaning $100 first month, $200 second month, etc., when it took too long for me to replace the front lawn.

 

[sleepy5136]

why would ones backyard not being landscaped be an issue to the neighbors? Front yard I get. People must be that bored in life to complain about an undone backyard?

 

[Irvinehomeseeker]

This one will be interesting to watch:https://www.redfin.com/CA/Irvine/196-Bishop-Lndg-92620/home/143915525

A 2bd/2ba attached condo pushing $900k is insane.

Description is All CAPs. this must be special!

I am currently renting the exact model on the same street. The balcony on this overlooks Irvine Blvd, so expect a lot of noise. Model match (overlooking Irvine Blvd)  sold for about 850K recently, so quite possible this one will sell at list price given the demand. This is the Avalon condo built by IP - Nice interior layout, spacious great room with 10 ft ceiling and nice size balcony/patio. Actually liking this a lot in the last 3-4 months I have been renting this model.

 

[irvinebullhousing]

Really???. One picture. I can?t see why it?s worth this much. WTF price???

But maybe it comes with the orange bike. 

For that price it should also include the home next door.

I've been tracking this listing and today complete photos are up. At first glance, the price seem high. When looking closer at 861/sqft compare to the homes in LA and west LA area at 1200/sqft for homes that built in 1920, it seem reasonable for today market. This was a former model homes of Shea.

It will sell for list price. Everytime I think it is too high, price gone higher. What do I know.

https://www.zillow.com/homes/176-Compass-Irvine,-CA-92618_rb/119683206_zpid/

Well, hot diggy dy doggg. I was wrong, this one just drop by 177,000.

Some greedy seller, wake up sooner then other. After two weeks the move down pretty quick and drastic.