Newer Irvine listings with crazy WTF asking prices from equity sellers

[Irvinehomeseeker]

What?s crazy is my parents signed the psa and put a deposit for 151 Ingram when it was new construction. They backed out by the 3rd day saying it would make expenses too tight. Sad to say a missed opportunity?

No one expected this crazy price rise....i have backed out of new EW SFRs when they were at 1.05 Million thinking they would be too expensive for us to manage , only to realize the same ones are 1.6 Million now. Even the ones that I considered in late 2020, early 2021 are up to crazy in price. I bet none saw this coming.

 

[CalBears96]

What?s crazy is my parents signed the psa and put a deposit for 151 Ingram when it was new construction. They backed out by the 3rd day saying it would make expenses too tight. Sad to say a missed opportunity?

No one expected this crazy price rise....i have backed out of new EW SFRs when they were at 1.05 Million thinking they would be too expensive for us to manage , only to realize the same ones are 1.6 Million now. Even the ones that I considered in late 2020, early 2021 are up to crazy in price. I bet none saw this coming.

My brother-in-law almost bought Ravello plan 4 at OH. It was $1.3M, and my sister tried to lower the price, but IP refused and she walked away. Now it's like, what, $1.8M-$1.9M?

They ended up buying one at The Oaks at Portolla Hills a couple of months. 4100 sq ft with 3 car garage on 6200 sq ft lot, for a bit less than $1.6M. They could have got a house at OH for $300k less. Granted, plan 4 is like 2800 sq ft, but still. But then again, no MR in Lake Forest.  ;D

 

[sleepy5136]

What?s crazy is my parents signed the psa and put a deposit for 151 Ingram when it was new construction. They backed out by the 3rd day saying it would make expenses too tight. Sad to say a missed opportunity?

No one expected this crazy price rise....i have backed out of new EW SFRs when they were at 1.05 Million thinking they would be too expensive for us to manage , only to realize the same ones are 1.6 Million now. Even the ones that I considered in late 2020, early 2021 are up to crazy in price. I bet none saw this coming.

exactly. but if one were to stay invested in the markets during the time up till now, I would argue you would be ahead and be able to buy the same property or a even better property depending on how well you invested.

 

[sleepy5136]

It's already in escrow

interesting. so why did you decide to take off the redfin listing instead of marking it as in escrow?

 

[Irvinehomeseeker]

What?s crazy is my parents signed the psa and put a deposit for 151 Ingram when it was new construction. They backed out by the 3rd day saying it would make expenses too tight. Sad to say a missed opportunity?

No one expected this crazy price rise....i have backed out of new EW SFRs when they were at 1.05 Million thinking they would be too expensive for us to manage , only to realize the same ones are 1.6 Million now. Even the ones that I considered in late 2020, early 2021 are up to crazy in price. I bet none saw this coming.

My brother-in-law almost bought Ravello plan 4 at OH. It was $1.3M, and my sister tried to lower the price, but IP refused and she walked away. Now it's like, what, $1.8M-$1.9M?

They ended up buying one at The Oaks at Portolla Hills a couple of months. 4100 sq ft with 3 car garage on 6200 sq ft lot, for a bit less than $1.6M. They could have got a house at OH for $300k less. Granted, plan 4 is like 2800 sq ft, but still. But then again, no MR in Lake Forest.  ;D

In late 2020, I made a low ball offer of 1.39 M on Solano (3000+ sqt) at EW that was selling at 1.475M - I thought sales being slow at that time for Solano, i could steal a deal. And today, the same is worth 2+ million.

 

[BlackKnight]

What?s crazy is my parents signed the psa and put a deposit for 151 Ingram when it was new construction. They backed out by the 3rd day saying it would make expenses too tight. Sad to say a missed opportunity?

No one expected this crazy price rise....i have backed out of new EW SFRs when they were at 1.05 Million thinking they would be too expensive for us to manage , only to realize the same ones are 1.6 Million now. Even the ones that I considered in late 2020, early 2021 are up to crazy in price. I bet none saw this coming.

My brother-in-law almost bought Ravello plan 4 at OH. It was $1.3M, and my sister tried to lower the price, but IP refused and she walked away. Now it's like, what, $1.8M-$1.9M?

They ended up buying one at The Oaks at Portolla Hills a couple of months. 4100 sq ft with 3 car garage on 6200 sq ft lot, for a bit less than $1.6M. They could have got a house at OH for $300k less. Granted, plan 4 is like 2800 sq ft, but still. But then again, no MR in Lake Forest.  ;D

In late 2020, I made a low ball offer of 1.39 M on Solano (3000+ sqt) at EW that was selling at 1.475M - I thought sales being slow at that time for Solano, i could steal a deal. And today, the same is worth 2+ million.

Not gonna get into the debate about Bitcoin but when something appeared out of thin air can be worth around $50k, it makes everything else looks cheap.

Cant imagine how crazy home price will be when Irvine runs out of land for new constructions (maybe another 2 years).

 

[CalBears96]

Not gonna get into the debate about Bitcoin but when something appeared out of thin air can be worth around $50k, it makes everything else looks cheap.

Cant imagine how crazy home price will be when Irvine runs out of land for new constructions (maybe another 2 years).

PS and OH will be done in 2+ years. GP will be the last piece of land, but that's going to be like 5 years.

 

[Irvinehomeseeker]

Not gonna get into the debate about Bitcoin but when something appeared out of thin air can be worth around $50k, it makes everything else looks cheap.

Cant imagine how crazy home price will be when Irvine runs out of land for new constructions (maybe another 2 years).

PS and OH will be done in 2+ years. GP will be the last piece of land, but that's going to be like 5 years.

Wait for OH4 to test the limits of home buyers wallet 
Earliest homes are set to debut in 2024...may rum for 2-3 years after that

 

[aquabliss]

What?s crazy is my parents signed the psa and put a deposit for 151 Ingram when it was new construction. They backed out by the 3rd day saying it would make expenses too tight. Sad to say a missed opportunity?

No one expected this crazy price rise....i have backed out of new EW SFRs when they were at 1.05 Million thinking they would be too expensive for us to manage , only to realize the same ones are 1.6 Million now. Even the ones that I considered in late 2020, early 2021 are up to crazy in price. I bet none saw this coming.

My brother-in-law almost bought Ravello plan 4 at OH. It was $1.3M, and my sister tried to lower the price, but IP refused and she walked away. Now it's like, what, $1.8M-$1.9M?

They ended up buying one at The Oaks at Portolla Hills a couple of months. 4100 sq ft with 3 car garage on 6200 sq ft lot, for a bit less than $1.6M. They could have got a house at OH for $300k less. Granted, plan 4 is like 2800 sq ft, but still. But then again, no MR in Lake Forest.  ;D

How do they like The Oaks?  Homes were beautiful, but just felt so far out (I guess you get used to it) and then the views of the power lines... was tempting when they first opened and it was like $1.2M for 4k sq ft.

 

[CalBears96]

What?s crazy is my parents signed the psa and put a deposit for 151 Ingram when it was new construction. They backed out by the 3rd day saying it would make expenses too tight. Sad to say a missed opportunity?

No one expected this crazy price rise....i have backed out of new EW SFRs when they were at 1.05 Million thinking they would be too expensive for us to manage , only to realize the same ones are 1.6 Million now. Even the ones that I considered in late 2020, early 2021 are up to crazy in price. I bet none saw this coming.

My brother-in-law almost bought Ravello plan 4 at OH. It was $1.3M, and my sister tried to lower the price, but IP refused and she walked away. Now it's like, what, $1.8M-$1.9M?

They ended up buying one at The Oaks at Portolla Hills a couple of months. 4100 sq ft with 3 car garage on 6200 sq ft lot, for a bit less than $1.6M. They could have got a house at OH for $300k less. Granted, plan 4 is like 2800 sq ft, but still. But then again, no MR in Lake Forest.  ;D

How do they like The Oaks?  Homes were beautiful, but just felt so far out (I guess you get used to it) and then the views of the power lines... was tempting when they first opened and it was like $1.2M for 4k sq ft.

Their move-in date is around June, but my brother-in-law seems to like the home they bought. Even though it's not a view lot, they got privacy since the homes behind them are several hundred feet away. My sister was probably a little bit hesitant, but he just told her that they should just buy and they can move if she doesn't like it later. I think he's a bit tired of her pickiness after she backed out on Ravello 4, Barcelona, Highland and Teresina.  ;D

 

[irvinehomeowner]

She would love to see all your opinions, Lol real opinions... no one said during open house

If it's already in escrow... I don't think any of our opinions matter.

The only opinion that counts is that of one qualified buyer.

 

[BlackKnight]

How much you think this house in SG will go for? My guess is $2.25 mil

https://www.redfin.com/CA/Irvine/76-Haviland-92620/home/58556994?600390594=copy_variant&231528114=control&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet

 

[trematix]

cant find the thread that mentioned you cant sell a new build within 1 year...you are in fact, wrong.

New build Genoa
https://www.redfin.com/CA/Irvine/74-Steeplechase-92602/home/177733260

 

[foodisgood]

What?s crazy is my parents signed the psa and put a deposit for 151 Ingram when it was new construction. They backed out by the 3rd day saying it would make expenses too tight. Sad to say a missed opportunity?

No one expected this crazy price rise....i have backed out of new EW SFRs when they were at 1.05 Million thinking they would be too expensive for us to manage , only to realize the same ones are 1.6 Million now. Even the ones that I considered in late 2020, early 2021 are up to crazy in price. I bet none saw this coming.

exactly. but if one were to stay invested in the markets during the time up till now, I would argue you would be ahead and be able to buy the same property or a even better property depending on how well you invested.

Hmm I agree that?s true which I didn?t think about, however borrowing money for a home to me feels less risky than borrowing money to buy stocks

 

[TestingIrvine]

cant find the thread that mentioned you cant sell a new build within 1 year...you are in fact, wrong.

New build Genoa
https://www.redfin.com/CA/Irvine/74-Steeplechase-92602/home/177733260

It will be one year by the time home settles, but no way HOA will sign off on the sale without a finished yard.

Listing does not equate to a sale.

 

[sleepy5136]

What?s crazy is my parents signed the psa and put a deposit for 151 Ingram when it was new construction. They backed out by the 3rd day saying it would make expenses too tight. Sad to say a missed opportunity?

No one expected this crazy price rise....i have backed out of new EW SFRs when they were at 1.05 Million thinking they would be too expensive for us to manage , only to realize the same ones are 1.6 Million now. Even the ones that I considered in late 2020, early 2021 are up to crazy in price. I bet none saw this coming.

exactly. but if one were to stay invested in the markets during the time up till now, I would argue you would be ahead and be able to buy the same property or a even better property depending on how well you invested.

Hmm I agree that?s true which I didn?t think about, however borrowing money for a home to me feels less risky than borrowing money to buy stocks

You don?t borrow. You instead use the down payment money to invest in the market. No need to borrow.

 

[trematix]

This isnt the first Genoa to sell. Just look a month ago, there was one that sold.

if they get 3 million+ for this, im sure theyll throw some grass on there to appease the HOA.

Fact of the matter is, new builds have been relisted within the 1 year mark and SOLD.

cant find the thread that mentioned you cant sell a new build within 1 year...you are in fact, wrong.

New build Genoa
https://www.redfin.com/CA/Irvine/74-Steeplechase-92602/home/177733260

It will be one year by the time home settles, but no way HOA will sign off on the sale without a finished yard.

Listing does not equate to a sale.

 

[Ready2Downsize]

This isnt the first Genoa to sell. Just look a month ago, there was one that sold.

if they get 3 million+ for this, im sure theyll throw some grass on there to appease the HOA.

Fact of the matter is, new builds have been relisted within the 1 year mark and SOLD.

cant find the thread that mentioned you cant sell a new build within 1 year...you are in fact, wrong.

New build Genoa
https://www.redfin.com/CA/Irvine/74-Steeplechase-92602/home/177733260

It will be one year by the time home settles, but no way HOA will sign off on the sale without a finished yard.

Listing does not equate to a sale.

I've never had the HOA "sign off" a resale I've done. Is that new?

 

[trematix]

Yea I?m shaking my head on that too. There have been numerous new build resales in GP and OH. Never knew hoa gets involved.

This isnt the first Genoa to sell. Just look a month ago, there was one that sold.

if they get 3 million+ for this, im sure theyll throw some grass on there to appease the HOA.

Fact of the matter is, new builds have been relisted within the 1 year mark and SOLD.

cant find the thread that mentioned you cant sell a new build within 1 year...you are in fact, wrong.

New build Genoa
https://www.redfin.com/CA/Irvine/74-Steeplechase-92602/home/177733260

It will be one year by the time home settles, but no way HOA will sign off on the sale without a finished yard.

Listing does not equate to a sale.

I've never had the HOA "sign off" a resale I've done. Is that new?

 

[foodisgood]

What?s crazy is my parents signed the psa and put a deposit for 151 Ingram when it was new construction. They backed out by the 3rd day saying it would make expenses too tight. Sad to say a missed opportunity?

No one expected this crazy price rise....i have backed out of new EW SFRs when they were at 1.05 Million thinking they would be too expensive for us to manage , only to realize the same ones are 1.6 Million now. Even the ones that I considered in late 2020, early 2021 are up to crazy in price. I bet none saw this coming.

exactly. but if one were to stay invested in the markets during the time up till now, I would argue you would be ahead and be able to buy the same property or a even better property depending on how well you invested.

Hmm I agree that?s true which I didn?t think about, however borrowing money for a home to me feels less risky than borrowing money to buy stocks

You don?t borrow. You instead use the down payment money to invest in the market. No need to borrow.

at the time they would have used their heloc for funding the down payment and purchase, not with extra cash lying around this is why it would be ?too tight? and thus did not move forward