Newer Irvine listings with crazy WTF asking prices from equity sellers

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best_potsticker_in_town said:
best_potsticker_in_town 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.

2 weeks later and looks like a $170k price drop today down to $2.68M.
https://www.redfin.com/CA/Irvine/53-Royal-Pne-92602/home/112723819

Dropped to $2.5m on Aug 5 and then back up to $2.68m 10 days later.
https://www.redfin.com/CA/Irvine/112-Meander-92620/home/112724295

Price increased from $2m to $2.2m after sitting on market for nearly 2 months.

Interesting strategy on these...

They are using the "buy now or be priced out forever" strategy.  haha
 
Allow me to make your post more fun.
6q966b.jpg
 
91 Rockinghorse was on the market recently for $2.5M and it didn't sell. Same floor plan but a much bigger yard. No change 65 Rockinghorse is going to get anywhere near what they're asking. I'm guessing $2.3-2.4m range is more realistic.
 
Danimal said:
This home dropped from 3.2 to 2.6.

Not gonna sell more than 2.3. Owner is too greedy.

https://redf.in/2i3TGI

Yard is nice but the interior upgrades are either a bit dated or not all that great plus being on the corner of Keystone and Trabuco isn't going to help.  They listed the home 4-5 months too late and will not chase the market down to around $2m.
 
best_potsticker_in_town said:
best_potsticker_in_town 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.

2 weeks later and looks like a $170k price drop today down to $2.68M.
https://www.redfin.com/CA/Irvine/53-Royal-Pne-92602/home/112723819

Dropped to $2.5m on Aug 5 and then back up to $2.68m 10 days later.
https://www.redfin.com/CA/Irvine/112-Meander-92620/home/112724295

Price increased from $2m to $2.2m after sitting on market for nearly 2 months.

Interesting strategy on these...

The Meander home is now pending sale after the price increase... did someone take it seriously "buy now or miss out forever"? :)
 
probably some Chinese FCB only buy a house based on price, the higher the better, not so much about comps or fair value.

Irvinehomeseeker said:
best_potsticker_in_town said:
best_potsticker_in_town 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.

2 weeks later and looks like a $170k price drop today down to $2.68M.
https://www.redfin.com/CA/Irvine/53-Royal-Pne-92602/home/112723819

Dropped to $2.5m on Aug 5 and then back up to $2.68m 10 days later.
https://www.redfin.com/CA/Irvine/112-Meander-92620/home/112724295

Price increased from $2m to $2.2m after sitting on market for nearly 2 months.

Interesting strategy on these...

The Meander home is now pending sale after the price increase... did someone take it seriously "buy now or miss out forever"? :)
 
USCTrojanCPA said:
Danimal said:
This home dropped from 3.2 to 2.6.

Not gonna sell more than 2.3. Owner is too greedy.

https://redf.in/2i3TGI

Yard is nice but the interior upgrades are either a bit dated or not all that great plus being on the corner of Keystone and Trabuco isn't going to help.  They listed the home 4-5 months too late and will not chase the market down to around $2m.

So from $3.2 down to $2M = 37.5% drop in price. Is that how far Irvine prices in that segment have fallen for non-premium properties in the last 6 months? That's not "gliding lower". That's falling off a cliff.
 
wow gasping for straws?one foolish and greedy owner priced the house 37% higher than peak pricing, or shall I say crazy WFT asking price, does not mean crash?

OCtoSV said:
USCTrojanCPA said:
Danimal said:
This home dropped from 3.2 to 2.6.

Not gonna sell more than 2.3. Owner is too greedy.

https://redf.in/2i3TGI

Yard is nice but the interior upgrades are either a bit dated or not all that great plus being on the corner of Keystone and Trabuco isn't going to help.  They listed the home 4-5 months too late and will not chase the market down to around $2m.

So from $3.2 down to $2M = 37.5% drop in price. Is that how far Irvine prices in that segment have fallen for non-premium properties in the last 6 months? That's not "gliding lower". That's falling off a cliff.
 
OCtoSV said:
USCTrojanCPA said:
Danimal said:
This home dropped from 3.2 to 2.6.

Not gonna sell more than 2.3. Owner is too greedy.

https://redf.in/2i3TGI

Yard is nice but the interior upgrades are either a bit dated or not all that great plus being on the corner of Keystone and Trabuco isn't going to help.  They listed the home 4-5 months too late and will not chase the market down to around $2m.

So from $3.2 down to $2M = 37.5% drop in price. Is that how far Irvine prices in that segment have fallen for non-premium properties in the last 6 months? That's not "gliding lower". That's falling off a cliff.

Well it doesn't really count when the seller priced the home too high to begin with. That's like saying a 1k sq ft condo priced at 1.5 dropping to 850 is indicative of home prices falling drastically, when it's really due to overpricing from the beginning.
 
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