Newer Irvine listings with crazy WTF asking prices from equity sellers

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People are selling Tay Mo 2000 sq foot houses for $500K they bought for $200K a couple years ago and buying 4000 sq foot Toll Brothers homes with 13K sq foot lots which are now selling for more than a million pre upgrade. They plunked down their small earnest money more than a year ago and watched both their new and current homes go up, up, up. They are moving in with $300-$400K mortgages and low property taxes, HOA and insur. And they don't make any less salary than here.

This is the kicker for me!
 
Irvinehomeseeker said:
People are selling Tay Mo 2000 sq foot houses for $500K they bought for $200K a couple years ago and buying 4000 sq foot Toll Brothers homes with 13K sq foot lots which are now selling for more than a million pre upgrade. They plunked down their small earnest money more than a year ago and watched both their new and current homes go up, up, up. They are moving in with $300-$400K mortgages and low property taxes, HOA and insur. And they don't make any less salary than here.

This is the kicker for me!

1. Are you sure that salary in Arizona is the same in California?
2. If you really want your the bang for your dollar. I have read retiring overseas might be the play. Depending on the area there are many Americans already living there.
 
Danimal said:
CalBears96 said:
Danimal said:
Wow this OH sold for $400k over LP which is already high @$1.95.

https://www.redfin.com/CA/Irvine/109-Summerland-92602/home/167379345?600390594=copy_variant&231528114=control&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet

Not really. This is Ravello Residence 5, which is going for $2M+. If you consider upgrades (not sure how much was put it) and the fact that it already has landscaping done, it doesn't seem that outrageous.

WRONG. This is no Ravello. It is Tera. We were interested in this tract 2 years ago but backed out because of AAA. They were selling for $1.5

Wow...my wife and I were looking at this exact home in July 2020.  See attached pricing sheet we had at the time.
 

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eyephone said:
Irvinehomeseeker said:
People are selling Tay Mo 2000 sq foot houses for $500K they bought for $200K a couple years ago and buying 4000 sq foot Toll Brothers homes with 13K sq foot lots which are now selling for more than a million pre upgrade. They plunked down their small earnest money more than a year ago and watched both their new and current homes go up, up, up. They are moving in with $300-$400K mortgages and low property taxes, HOA and insur. And they don't make any less salary than here.

This is the kicker for me!

1. Are you sure that salary in Arizona is the same in California?
2. If you really want your the bang for your dollar. I have read retiring overseas might be the play. Depending on the area there are many Americans already living there.

no medicare overseas, so you have to have private insurance through your former work that will pay out of the country, or self-fund cash pay.
 
TestingIrvine said:
Wow people are getting desperate. $1k psf crazy
honestly, for a Bay area buyer long used to $1K+/sq. ft. this is a smoking deal, single level, with a nice private backyard in a great area with no MR for someone that doesn't want a typical larger new construction house. Slam dunk at that price with a nice chunk of BA equity still in your pocket.
 
The California Court Company said:
wondering we will see basement next . it will be so nice to have a man cave.

I think you are out of Irvine now but there were some recent new home builds in Irvine with a basement... even had a sunken outdoor courtyard.

Although it hardly rains in SoCal, I would still worry about flooding.
 
OCtoSV said:
TestingIrvine said:
Wow people are getting desperate. $1k psf crazy
honestly, for a Bay area buyer long used to $1K+/sq. ft. this is a smoking deal, single level, with a nice private backyard in a great area with no MR for someone that doesn't want a typical larger new construction house. Slam dunk at that price with a nice chunk of BA equity still in your pocket.

With Amazon raising the total comp aggressively, its OC office employees have more buying power now:
https://www.geekwire.com/2022/amazo...rporate-and-tech-workers-citing-labor-market/
 
irvinehomeowner said:
The California Court Company said:
wondering we will see basement next . it will be so nice to have a man cave.

I think you are out of Irvine now but there were some recent new home builds in Irvine with a basement... even had a sunken outdoor courtyard.

Although it hardly rains in SoCal, I would still worry about flooding.

I looked at those homes, but my wife nay'd me at the time and we bought resale.  They have dual pumps to pump water on the lower level, not sure what the maintenance looks like on those.  Game room and movie room would have been nice....there was an option for an art studio/loft on the 3rd floor too to make one of the rooms bigger, can't remember if it was a secondary or master for that.
 
Irvinehomeseeker said:
This one is a WTF not for the high price but because it is priced so low in today market for an Eastwood SFR house - https://www.redfin.com/CA/Irvine/108-Meander-92620/home/110016824

It's listed at 1.7 M while properties of that size at 3000sqt have sold over 2.2M lately.  Either its incorrectly priced or the agent wants to price it really low to get insane number of bids to get the final price way above.

Priced insanely low, will go over $2.2m
 
USCTrojanCPA said:
Irvinehomeseeker said:
This one is a WTF not for the high price but because it is priced so low in today market for an Eastwood SFR house - https://www.redfin.com/CA/Irvine/108-Meander-92620/home/110016824

It's listed at 1.7 M while properties of that size at 3000sqt have sold over 2.2M lately.  Either its incorrectly priced or the agent wants to price it really low to get insane number of bids to get the final price way above.

Priced insanely low, will go over $2.2m

Yeah, that's way too low. $2.2M sounds about right.
 
CalBears96 said:
USCTrojanCPA said:
Irvinehomeseeker said:
This one is a WTF not for the high price but because it is priced so low in today market for an Eastwood SFR house - https://www.redfin.com/CA/Irvine/108-Meander-92620/home/110016824

It's listed at 1.7 M while properties of that size at 3000sqt have sold over 2.2M lately.  Either its incorrectly priced or the agent wants to price it really low to get insane number of bids to get the final price way above.

Priced insanely low, will go over $2.2m

Yeah, that's way too low. $2.2M sounds about right.

$2.2M almost seems like a bargain compared to what $1.4M gets you in Eastwood now.
https://www.redfin.com/CA/Irvine/154-Damsel-92602/home/167403884
 
ti2021 said:
CalBears96 said:
USCTrojanCPA said:
Irvinehomeseeker said:
This one is a WTF not for the high price but because it is priced so low in today market for an Eastwood SFR house - https://www.redfin.com/CA/Irvine/108-Meander-92620/home/110016824

It's listed at 1.7 M while properties of that size at 3000sqt have sold over 2.2M lately.  Either its incorrectly priced or the agent wants to price it really low to get insane number of bids to get the final price way above.

Priced insanely low, will go over $2.2m

Yeah, that's way too low. $2.2M sounds about right.

$2.2M almost seems like a bargain compared to what $1.4M gets you in Eastwood now.
https://www.redfin.com/CA/Irvine/154-Damsel-92602/home/167403884

There will be stampede to get into the house this Saturday during the open house given this low teaser price 😀
The house shows very nice with a good upgrades IMO.
 
Irvinehomeseeker said:
This one is a WTF not for the high price but because it is priced so low in today market for an Eastwood SFR house - https://www.redfin.com/CA/Irvine/108-Meander-92620/home/110016824

It's listed at 1.7 M while properties of that size at 3000sqt have sold over 2.2M lately.  Either its incorrectly priced or the agent wants to price it really low to get insane number of bids to get the final price way above.
great home for people that don't care about yard size.
 
https://www.redfin.com/CA/Irvine/118-Doverwood-92620/home/51682188?600390594=copy_variant&231528114=control&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet

My RE told me that listing agent said she already got $2mil cash only offer w/o contingency  before the house was opened last weekend.

This is unreal.
 
Compressed-Village said:
USCTrojanCPA said:
Compressed-Village said:
Amazing, roomy backyard for 2 Million cash. I can fit more than a bench, can't I? :)

But it's a PREMIUM corner lot.

Ha ha, I guess that's the price for corner lot.

Oh, this shortage is killing me. When will this end Martin?

If I knew, I would be a rich man.  We've been around 100 +/- listings for the past month instead of increasing.  I'm doing my part...I'll have 3 Irvine listings coming up in March/April and I have 2-3 other pocket listings in Irvine where the sellers want a long rent back.
 
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