Newer Irvine listings with crazy WTF asking prices from equity sellers

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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.
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2 weeks later and looks like a $170k price drop today down to $2.68M.
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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...
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The Meander home is now pending sale after the price increase... did someone take it seriously "buy now or miss out forever"? :)
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That was the house that wanted a 2 year leaseback, so they priced it under market at $2m. I assume they removed that requirement when they increased the price back to $2.2m.
 
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
Click to expand...

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.
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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.
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LOL So this is what you're going to use for your "Irvine housing price drops by 50% by 2023". You're just trolling at this point.
 
CalBears96 said:
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
Click to expand...

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.
Click to expand...

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.
Click to expand...

LOL So this is what you're going to use for your "Irvine housing price drops by 50% by 2023". You're just trolling at this point.
Click to expand...
what's funny is no one has assigned the value to the house if it had been listed 6 months ago. Come on people, debate with data, not feelings.

My call is for the 30 year to go to 10% and today's $1.6M detached condo to be worth $1M at that point. Seems like we're well on that path.

But again, riddle me this - what should this home have listed for 6 months ago?
 
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
Click to expand...

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.
Click to expand...

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.
Click to expand...

Hahaha  The $3.2m was a dreamer price even at the peak of the market. I think at the peak the home would have sold for around $2.5m but now it'll be in the low $2s.  Irvine prices are down about 6-8% from the peak but still 5-7% higher than prices at the end of 2021.
 
OCtoSV said:
CalBears96 said:
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
Click to expand...

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.
Click to expand...

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.
Click to expand...

LOL So this is what you're going to use for your "Irvine housing price drops by 50% by 2023". You're just trolling at this point.
Click to expand...
what's funny is no one has assigned the value to the house if it had been listed 6 months ago. Come on people, debate with data, not feelings.

My call is for the 30 year to go to 10% and today's $1.6M detached condo to be worth $1M at that point. Seems like we're well on that path.

But again, riddle me this - what should this home have listed for 6 months ago?
Click to expand...

$2.3 million. Less than where it is now.
 
OCtoSV said:
CalBears96 said:
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
Click to expand...

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.
Click to expand...

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.
Click to expand...

LOL So this is what you're going to use for your "Irvine housing price drops by 50% by 2023". You're just trolling at this point.
Click to expand...
what's funny is no one has assigned the value to the house if it had been listed 6 months ago. Come on people, debate with data, not feelings.

My call is for the 30 year to go to 10% and today's $1.6M detached condo to be worth $1M at that point. Seems like we're well on that path.

But again, riddle me this - what should this home have listed for 6 months ago?
Click to expand...

It should have been listed for $2.5m and would have sold around that price 4-6 months ago.
 
K15nguye said:
There are a few fixer uppers in Turtle Rock. What are thoughts on pricing?
https://redf.in/s10LAF
https://redf.in/Izhtr0
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Orion is in one of the best tracts in Irvine (IMO), but that needs a complete renovation from top to bottom. Will it sell at that price or close to it? Probably. Here is a house that recently sold in that tract and also needed a ton of work:
https://www.redfin.com/CA/Irvine/9-Dione-92603/home/4745645

Silver Crescent house needs to come down in price...its neighbor on the next block sold for under 1k a ft and it was move-in ready:
https://www.redfin.com/CA/Irvine/16-Cedar-Rdg-92603/home/4743327
 
CalBears96 said:
Ready2Downsize said:
Sold twice this year already. Sold a couple months ago for $1,180,000
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Only sold once, right? Started listing in March and sold on June 24th or 27th.
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OH! My bad! Sorry. I went to zillow because something weird on my computer on redfin site with not bringing up all the photos and I scrolled thru the home value list too quick and added in the pending sale in March.

So................ prices went UP from March and now they are DOWN from the peak to where they were in March. Well........... LL was right! Prices are down from the peak! But the peak was way later and now they are up from where he started saying they'd be down.

That's like shorting a stock and being happy it's down from the peak till u notice u r still not break even.

So the fed is going to raise rates till they go too far but there is always unintended consequences. Like those with low rate loans deciding they ain't selling which leaves the builders. That would hurt the move up market somewhat but would be a real problem for the first time buyer market... going to come a time when first time buyers are once again out in the cold because so many want houses and not enough to go around.

Meanwhile, investors are going to snatch up houses. Going to be a lot of homes here in the Valley of the Sun early 2023 when the spec homes are ready. Right now lots of listings are not actually available to move in but they will be in several months. I might go sniffing around when the spec homes go unsold.

By then Opendoor should be out of biz. LOL!
 
Portolaresident said:
https://www.redfin.com/CA/Irvine/121-Alhambra-92620/home/12256120

So this property been on market for little over 2 months, it didn't sell and the price was dropped by $90K, still has not been sold and they decided to increase the price by $40K  ???
So what's the logic behind this approach? double down if you're not winning?
Click to expand...

There is one house for sale in Eastvale near my house that's doing the same.

6 bd/4 ba 4313 sq ft house.
Listed at $1,050,000 on 6/16
Reduced to $950,000 on 7/21
Increased to $980,000 on 8/16
 
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