Newer Irvine listings with crazy WTF asking prices from equity sellers

NEW -> Contingent Buyer Assistance Program
Goriot said:
This truly is a WTF price at $511/sqft.
http://www.redfin.com/CA/Irvine/38-Rising-Sun-92620/home/5958985

Note the description: Fabulous model perfect home! Lowest priced SFR in the luxurious Village of Woodbury

Lowest priced?? haha
Click to expand...
Actually, if you compare it to its original sale price in 2006 taking into account inflation and the recent bubble, it's probably accurately priced.

The problem is that just not 2 to 3 years ago, these homes were selling for the mid to high $700ks.
 
irvinehomeowner said:
Goriot said:
This truly is a WTF price at $511/sqft.
http://www.redfin.com/CA/Irvine/38-Rising-Sun-92620/home/5958985

Note the description: Fabulous model perfect home! Lowest priced SFR in the luxurious Village of Woodbury

Lowest priced?? haha
Click to expand...
Actually, if you compare it to its original sale price in 2006 taking into account inflation and the recent bubble, it's probably accurately priced.

The problem is that just not 2 to 3 years ago, these homes were selling for the mid to high $700ks.
Click to expand...
If it closes at/near list it'll be above previous bubble pricing....I dunno $1m for a 3-bedroom home seems a bit high. 
 
Is the mini-bubble starting to deflate? The crazy price increases have stopped and now prices are being dropped. Here are some attached condos that reduced their prices in the past few days. Is this a sign?
http://www.redfin.com/CA/Irvine/17-Imperial-Aisle-92606/home/5590317
http://www.redfin.com/CA/Irvine/87-Weepingwood-92614/unit-33/home/5641294
http://www.redfin.com/CA/Irvine/75-Goldenrod-92614/unit-45/home/5645489
http://www.redfin.com/CA/Irvine/420-Fallingstar-92614/unit-30/home/5618548
http://www.redfin.com/CA/Irvine/1135-Abelia-92606/home/12255155
http://www.redfin.com/CA/Irvine/414-Silk-Tree-92606/home/12257871
http://www.redfin.com/CA/Irvine/15-Tangerine-92618/home/4746099
http://www.redfin.com/CA/Irvine/2234-Scholarship-92612/home/39650183
http://www.redfin.com/CA/Irvine/1701-Terra-Bella-92602/home/5841949
http://www.redfin.com/CA/Irvine/2233-Martin-92612/unit-303/home/5554417
http://www.redfin.com/CA/Irvine/21-Autumn-Oak-92604/unit-2/home/5505867
http://www.redfin.com/CA/Irvine/4106-Apricot-Dr-92618/unit-4106/home/5259791
http://www.redfin.com/CA/Irvine/15-Woodleaf-92614/unit-172/home/5574002
http://www.redfin.com/CA/Irvine/635-Springbrook-N-92614/unit-46/home/5618612
http://www.redfin.com/CA/Irvine/22-Remington-92620/unit-3/home/5317791
http://www.redfin.com/CA/Irvine/2374-Scholarship-92612/home/12252506
http://www.redfin.com/CA/Irvine/44-Sparrowhawk-92604/home/4688009
 
USCTrojanCPA said:
irvinehomeowner said:
Goriot said:
This truly is a WTF price at $511/sqft.
http://www.redfin.com/CA/Irvine/38-Rising-Sun-92620/home/5958985

Note the description: Fabulous model perfect home! Lowest priced SFR in the luxurious Village of Woodbury

Lowest priced?? haha
Click to expand...
Actually, if you compare it to its original sale price in 2006 taking into account inflation and the recent bubble, it's probably accurately priced.

The problem is that just not 2 to 3 years ago, these homes were selling for the mid to high $700ks.
Click to expand...
If it closes at/near list it'll be above previous bubble pricing....I dunno $1m for a 3-bedroom home seems a bit high. 
Click to expand...
At least it has a driveway, is not on a motorcourt, has larger setbacks,  and is not zero lot line (you can walk all the way around the house). :)
 
USCTrojanCPA said:
I guess there are newbies getting into the flipping game.  The seller bought the home as an REO in April for $875k and listed it recently for $1.25M by maybe putting $50k into it....
http://www.redfin.com/CA/Irvine/2-National-Pl-92602/home/4791825

The most expensive closed comp in West Irvine was $1.1M and that wasn't a house that backed up to Jamboree.  They'll be lucky if they get $1M for this house. 
Click to expand...

Kind of a half ass renovation.  The new buyer might have to redo some of it to match everything else.
 
quattroporte said:
Is the mini-bubble starting to deflate? The crazy price increases have stopped and now prices are being dropped. Here are some attached condos that reduced their prices in the past few days. Is this a sign?
http://www.redfin.com/CA/Irvine/17-Imperial-Aisle-92606/home/5590317
http://www.redfin.com/CA/Irvine/87-Weepingwood-92614/unit-33/home/5641294
http://www.redfin.com/CA/Irvine/75-Goldenrod-92614/unit-45/home/5645489
http://www.redfin.com/CA/Irvine/420-Fallingstar-92614/unit-30/home/5618548
http://www.redfin.com/CA/Irvine/1135-Abelia-92606/home/12255155
http://www.redfin.com/CA/Irvine/414-Silk-Tree-92606/home/12257871
http://www.redfin.com/CA/Irvine/15-Tangerine-92618/home/4746099
http://www.redfin.com/CA/Irvine/2234-Scholarship-92612/home/39650183
http://www.redfin.com/CA/Irvine/1701-Terra-Bella-92602/home/5841949
http://www.redfin.com/CA/Irvine/2233-Martin-92612/unit-303/home/5554417
http://www.redfin.com/CA/Irvine/21-Autumn-Oak-92604/unit-2/home/5505867
http://www.redfin.com/CA/Irvine/4106-Apricot-Dr-92618/unit-4106/home/5259791
http://www.redfin.com/CA/Irvine/15-Woodleaf-92614/unit-172/home/5574002
http://www.redfin.com/CA/Irvine/635-Springbrook-N-92614/unit-46/home/5618612
http://www.redfin.com/CA/Irvine/22-Remington-92620/unit-3/home/5317791
http://www.redfin.com/CA/Irvine/2374-Scholarship-92612/home/12252506
http://www.redfin.com/CA/Irvine/44-Sparrowhawk-92604/home/4688009
Click to expand...

Another one.
http://www.redfin.com/CA/Irvine/204-Guinevere-92620/home/7211785
 
woodburyowner said:
USCTrojanCPA said:
I guess there are newbies getting into the flipping game.  The seller bought the home as an REO in April for $875k and listed it recently for $1.25M by maybe putting $50k into it....
http://www.redfin.com/CA/Irvine/2-National-Pl-92602/home/4791825

The most expensive closed comp in West Irvine was $1.1M and that wasn't a house that backed up to Jamboree.  They'll be lucky if they get $1M for this house. 
Click to expand...

Kind of a half ass renovation.  The new buyer might have to redo some of it to match everything else.
Click to expand...
I'm going to enjoy seeing that house linger on the market for a while until they bring the price down by $200k+ over the next several months.  Wanna-be flippers like this need to be learn the hard way.  Don't they know that being right next to a super busy street brings the value of a home down, not up (there's a reason why they bought the REO for only $875k).  If they had the cash, they could have picked it up at the auction for $740k but since no other professional flipper did it tells you something. 
 
USCTrojanCPA said:
quattroporte said:
http://www.redfin.com/CA/Irvine/116-Hedge-Bloom-92618/home/40103056?utm_campaign=instant_listings_update&utm_content=address&utm_medium=email&utm_source=myredfin

Another one. Sold in August 2010 for $413,000 now asking $585,000 for a 2 bedroom 1180 SF attached condo.
Click to expand...
Wow, almost $500/sf for a Woodbury East attached condo with a gorgeous main listing picture like that?  Why not list it for $600/sf?  haha  Not sure what Bill and the seller are smoking, but it must be some strong stuff.
Click to expand...

Took 3 days to drop the price to $560,000....
 
Starlight East said:
quattroporte said:
USCTrojanCPA said:
quattroporte said:
http://www.redfin.com/CA/Irvine/116-Hedge-Bloom-92618/home/40103056?utm_campaign=instant_listings_update&utm_content=address&utm_medium=email&utm_source=myredfin

Another one. Sold in August 2010 for $413,000 now asking $585,000 for a 2 bedroom 1180 SF attached condo.
Click to expand...
Wow, almost $500/sf for a Woodbury East attached condo with a gorgeous main listing picture like that?  Why not list it for $600/sf?  haha  Not sure what Bill and the seller are smoking, but it must be some strong stuff.
Click to expand...

Took 3 days to drop the price to $560,000....
Click to expand...

Pictures are also fixed. They listened to us.
Click to expand...

Good point! All I got to say: High HOA, attached condo, no wood floors does not command $474 sq ft in my opinion. If I was to buy it, but I'm not due to the reasons above. I would have to rip out the carpet and put wood floors, repaint the walls, remove the fixture in the living room. (Note: just my opinion)

The kitchen looks nice (granite counter top and cabinets looks decent), but what's up with that small wall in front of the kitchen. It looks around 4 feet tall, did it use to be a wall there?


 
eyephone said:
Good point! All I got to say: High HOA, attached condo, no wood floors does not command $474 sq ft in my opinion. If I was to buy it, but I'm not due to the reasons above. I would have to rip out the carpet and put wood floors, repaint the walls, remove the fixture in the living room. (Note: just my opinion)

The kitchen looks nice (granite counter top and cabinets looks decent), but what's up with that small wall in front of the kitchen. It looks around 4 feet tall, did it use to be a wall there?
Click to expand...

This home seems to have low ceiling... this could be a ground floor home with someone living above. which should allow hardwood floor as if it's on second floor with someone below then it's like on T&C that hardwood is not allowed.
There are obviously disadvantages with ppl up or down stairs, but one level living has to be a plus as well, as those stairs are no fun to deal with which can't be avoid for most Irvine homes.
 
You must log in or register to reply here.
Back
Top