Newer Irvine listings with crazy WTF asking prices from equity sellers

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USCTrojanCPA said:
Over $930/sf and backing up to the Toll Road in this market?  Uhhh, I don't think so.
https://www.redfin.com/CA/Irvine/53-Royal-Pne-92602/home/112723819

Plus that tile flooring downstairs doesn't look good at all.
Click to expand...

Realtor is McSen and they market HEAVILY in Beijing, Shanghai and other rich top tier cities. Some value privacy over noise and the mcsen will say the toll road is rarely used, haha. Agree on ugly flooring but that is subjective and that house is highly upgraded (I do like the landscaping).  Tracking on redfin...
 
Good point on McSen! It may seem overpriced to us but not to Chinese FCBs


Sidehussle said:
USCTrojanCPA said:
Over $930/sf and backing up to the Toll Road in this market?  Uhhh, I don't think so.
https://www.redfin.com/CA/Irvine/53-Royal-Pne-92602/home/112723819

Plus that tile flooring downstairs doesn't look good at all.
Click to expand...

Realtor is McSen and they market HEAVILY in Beijing, Shanghai and other rich top tier cities. Some value privacy over noise and the mcsen will say the toll road is rarely used, haha. Agree on ugly flooring but that is subjective and that house is highly upgraded (I do like the landscaping).  Tracking on redfin...
Click to expand...
 
Sidehussle said:
USCTrojanCPA said:
Over $930/sf and backing up to the Toll Road in this market?  Uhhh, I don't think so.
https://www.redfin.com/CA/Irvine/53-Royal-Pne-92602/home/112723819

Plus that tile flooring downstairs doesn't look good at all.
Click to expand...

Realtor is McSen and they market HEAVILY in Beijing, Shanghai and other rich top tier cities. Some value privacy over noise and the mcsen will say the toll road is rarely used, haha. Agree on ugly flooring but that is subjective and that house is highly upgraded (I do like the landscaping).  Tracking on redfin...
Click to expand...

The can market it all the over the world, it's not going to sell at the listing price.  NOT GONNA HAPPEN!
 
USCTrojanCPA said:
Sidehussle said:
USCTrojanCPA said:
Over $930/sf and backing up to the Toll Road in this market?  Uhhh, I don't think so.
https://www.redfin.com/CA/Irvine/53-Royal-Pne-92602/home/112723819

Plus that tile flooring downstairs doesn't look good at all.
Click to expand...

Realtor is McSen and they market HEAVILY in Beijing, Shanghai and other rich top tier cities. Some value privacy over noise and the mcsen will say the toll road is rarely used, haha. Agree on ugly flooring but that is subjective and that house is highly upgraded (I do like the landscaping).  Tracking on redfin...
Click to expand...

The can market it all the over the world, it's not going to sell at the listing price.  NOT GONNA HAPPEN!
Click to expand...

Man, now Martin is trolling other listing lol
 
TestingIrvine said:
USCTrojanCPA said:
Sidehussle said:
USCTrojanCPA said:
Over $930/sf and backing up to the Toll Road in this market?  Uhhh, I don't think so.
https://www.redfin.com/CA/Irvine/53-Royal-Pne-92602/home/112723819

Plus that tile flooring downstairs doesn't look good at all.
Click to expand...

Realtor is McSen and they market HEAVILY in Beijing, Shanghai and other rich top tier cities. Some value privacy over noise and the mcsen will say the toll road is rarely used, haha. Agree on ugly flooring but that is subjective and that house is highly upgraded (I do like the landscaping).  Tracking on redfin...
Click to expand...

The can market it all the over the world, it's not going to sell at the listing price.  NOT GONNA HAPPEN!
Click to expand...

Man, now Martin is trolling other listing lol
Click to expand...

I talked to a client who lives in the Pavoda tract and I told him the seller/listing agent are not just dreaming, they are smoking crack thinking that'll get that price so I'm just providing the cold slap of reality.  ;)
 
Chinese FCBs are selling in a hurry.  Look at this one:
112 Fairhaven Irvine, $90K price dropped after 2 weeks.  Expect more price drops to come on other listings.
 
lovingit said:
Is it really unbelievable when recent Palermo homes sold for around the same price?
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In this market and the fact that Palermo homes are in a much better location far enough away from the toll road to even think about, Yes it is unbelievable that they will get full list price. 
 
Davidlee199 said:
Chinese FCBs are selling in a hurry.  Look at this one:
112 Fairhaven Irvine, $90K price dropped after 2 weeks.  Expect more price drops to come on other listings.
Click to expand...

It was way overpriced to begin with, I mean over $900/sf for a Stonegate detached condo?  I think not.  So of course the overpriced dreamer listings are going to get price reductions if they want to sell.
 
https://www.redfin.com/CA/Irvine/62-Poncho-92602/home/143911240?600390594=copy_variant&231528114=control&1778901559=variant&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet

Talk about a hefty reduction?
 
trematix said:
https://www.redfin.com/CA/Irvine/62-Poncho-92602/home/143911240?600390594=copy_variant&231528114=control&1778901559=variant&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet

Talk about a hefty reduction?
Click to expand...

Yeah, big time...from $3.4m to $2.55m.  I guess the seller wants it sold quickly.
 
trematix said:
https://www.redfin.com/CA/Irvine/62-Poncho-92602/home/143911240?600390594=copy_variant&231528114=control&1778901559=variant&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet

Talk about a hefty reduction?
Click to expand...

Priced to sell fast!  You guys know the bottom is about to fall out of the RE market, right?  This seller knows  ;)
 
Poncho closed 12/2021 close to $2,050,000 (financed) so there is plenty of room still left on price.

Methinks the Seller on Poncho either had a margin call this week,  or someone higher up wants their cash repatriated back to the homeland STAT.

My .02c
 
If that sells anywhere near 2.5, thats going to mess up a lot of comps in that area

Soylent Green Is People said:
Methinks the Seller on Poncho either had a margin call this week,  or someone higher up wants their cash repatriated back to the homeland STAT.

My .02c
Click to expand...
 
trematix said:
If that sells anywhere near 2.5, thats going to mess up a lot of comps in that area

Soylent Green Is People said:
Methinks the Seller on Poncho either had a margin call this week,  or someone higher up wants their cash repatriated back to the homeland STAT.

My .02c
Click to expand...
Click to expand...

Typically takes more than one comp like that to set the trend but yeah I'm sure the current sellers/listing agents aren't happy.
 
Irvinehomeseeker said:
360K Price difference between two same SQT/lot size Belvedere SFRs in EW  - The higher priced one cut list price by just 20K this week. The one on henderson  doesn't have photos (donno if staged) and  located on a T Intersection, but 360K less than the other seems like a big drop. https://www.redfin.com/CA/Irvine/112-Meander-92620/home/112724295https://www.redfin.com/CA/Irvine/110-Henderson-92602/home/112724352
Click to expand...

The one on Meander is a bit unique in the sense that the seller wants a 2-year lease back. This is likely why it's priced lower.
 
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