Newer Irvine listings with crazy WTF asking prices from equity sellers

[usctrojancpa]

I believe it was the last episode, they were doing a summary and someone said he had a house in Irvine they were listing soon at $8.8. Now it is listed at $8.8 and I hear they received some offers above $8 already

That other one on Trailmaster has been sitting for a bit already. Doubtful if they get much over $3m at this point let alone mid $3m. The one at 203 Trailmaster was listed 10 days after they purchased it from Shea homes at $3,677,000, just enough time to stage it and take pictures. haha

 

[sleepy5136]

Some of us will be happy if this goes for asking (myself included).
Cetara Plan 2 w/ big lot but backyard/frontyard needs to be done (extra $300-500k needed?)

203 trailmaster, Irvine, CA 92602 - 5 beds/5.5 baths

(CRMLS) Sold: 5 beds, 5.5 baths, 4474 sq. ft. house located at 203 trailmaster, Irvine, CA 92602 sold for $4,130,000 on Mar 8, 2023. MLS# OC23001829. Nestled in the exclusive gated community of The Groves ...

www.redfin.com

Homes like these are difficult to sell without landscaping done. Especially in this market.

 

[sleepy5136]

That other one on Trailmaster has been sitting for a bit already. Doubtful if they get much over $3m at this point let alone mid $3m. The one at 203 Trailmaster was listed 10 days after they purchased it from Shea homes at $3,677,000, just enough time to stage it and take pictures. haha

wow. IP made Shea charge a huge lot premium on 203. 211 sold for 2.65m but their lot is quite small.

 

[Goriot]

I believe it was the last episode, they were doing a summary and someone said he had a house in Irvine they were listing soon at $8.8. Now it is listed at $8.8 and I hear they received some offers above $8 already

This listing went pending. Curious what the sold price would be.

 

[callmehere]

This listing went pending. Curious what the sold price would be.

wow, def gonna be a record breaker for the neighborhood. Congrats to them an everyone at the Vistas

 

[usctrojancpa]

I know this one has a slightly bigger lot but come now, this price is nuts....

104 Quiet Grv, Irvine, CA 92618 - 4 beds/4 baths

(CRMLS) For Sale: 4 beds, 4 baths ∙ 3094 sq. ft. ∙ 104 Quiet Grv, Irvine, CA 92618 ∙ $2,798,880 ∙ MLS# OC22224941 ∙ EXCEPTIONAL PRIVATE LOT WITH EXTRA HUGE BACKYARD, LONG DRIVE-WAY AND HILLS VIEW * * * Y...

www.redfin.com

I doubt they'll even get $2.5m (the owner are Portola Springs agents) so they should know better.

 

[CalBears96]

I doubt they'll even get $2.5m (the owner are Portola Springs agents) so they should know better.

PS agents are a bit delusional, though.

 

[Ready2Downsize]

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.

 

[Ready2Downsize]

$2.5 Million. So prices haven't gone down in Irvine, LOL!

 

[irvinehomeowner]

I think they showed an Irvine home early on when previewing the listing but not sure if it was the same home.

4CL garage is spicy.

 

[usctrojancpa]

Ummmm this seller didn't get the memo that prices are down from 6 months ago or maybe they drank too much eggnog...

65 Glacier Vly, Irvine, CA 92602 - 4 beds/4.5 baths

(CRMLS) Sold: 4 beds, 4.5 baths, 3130 sq. ft. house located at 65 Glacier Vly, Irvine, CA 92602 sold for $2,450,000 on Mar 23, 2023. MLS# IV22243243. Live the LIFE OF LUXURY at this coveted CUL-DE-SAC home...

www.redfin.com

There was a larger Plan 4 corner that closed a few days ago on Nov. 22nd for $2.34m....

65 Derby, Irvine, CA 92602 - 4 beds/4.5 baths

(CRMLS) Sold: 4 beds, 4.5 baths, 3239 sq. ft. house located at 65 Derby, Irvine, CA 92602 sold for $2,340,000 on Nov 22, 2022. MLS# OC22177702. Gorgeous MODEL-LIKE home located behind the guard-gates of Th...

www.redfin.com

The seller will get in the low $2s and will take months and months to get there.

 

[CalBears96]

Ummmm this seller didn't get the memo that prices are down from 6 months ago or maybe they drank too much eggnog...

65 Glacier Vly, Irvine, CA 92602 - 4 beds/4.5 baths

(CRMLS) Sold: 4 beds, 4.5 baths, 3130 sq. ft. house located at 65 Glacier Vly, Irvine, CA 92602 sold for $2,450,000 on Mar 23, 2023. MLS# IV22243243. Live the LIFE OF LUXURY at this coveted CUL-DE-SAC home...

www.redfin.com

There was a larger Plan 4 corner that closed a few days ago on Nov. 22nd for $2.34m....

65 Derby, Irvine, CA 92602 - 4 beds/4.5 baths

(CRMLS) Sold: 4 beds, 4.5 baths, 3239 sq. ft. house located at 65 Derby, Irvine, CA 92602 sold for $2,340,000 on Nov 22, 2022. MLS# OC22177702. Gorgeous MODEL-LIKE home located behind the guard-gates of Th...

www.redfin.com

The seller will get in the low $2s and will take months and months to get there.

Some sellers are just delusional.

 

[usctrojancpa]

Some sellers are just delusional.

Not only that, but they are also only offering a 1.50% buyer agent commission when every other listing in Orchard Hills is offering 2% or more to buyer agents.

 

[CalBears96]

Not only that, but they are also only offering a 1.50% buyer agent commission when every other listing in Orchard Hills is offering 2% or more to buyer agents.

Isn't that more of a seller agent problem though? I mean, the seller agent charges a certain % and then (s)he decides how to split it. Could be a greedy agent that charges 4% and then only gives 1.5% to buyer agent.

 

[someguy]

Isn't that more of a seller agent problem though? I mean, the seller agent charges a certain % and then (s)he decides how to split it. Could be a greedy agent that charges 4% and then only gives 1.5% to buyer agent.

Possible for an inattentive seller, though the amount paid to the buyer's agent's broker can be specified on page 1 section 3 D of the residential listing agreement in terms of %, $, or seller's agent's broker's policy. I would hope the seller reviews this before signing the RLA and bet all good agents discuss this with the seller in advance.

 

[usctrojancpa]

Isn't that more of a seller agent problem though? I mean, the seller agent charges a certain % and then (s)he decides how to split it. Could be a greedy agent that charges 4% and then only gives 1.5% to buyer agent.

Chances are that if the buyer agent is getting 1.50% then the listing agent is only getting 1.50%. Some buyers will consult their realtor which home they would recommend if they like more than one home so those agents will steer their buyers to homes that are offering a higher commission amount.

 

[irviniteeee]

They just purchased this home in LA for 3.05M in April and are now selling it for 3.339.

64 Domani, Irvine, CA 92618 - 4 beds/3 baths

(CRMLS) Sold: 4 beds, 3 baths, 3041 sq. ft. house located at 64 Domani, Irvine, CA 92618 sold for $3,115,000 on Apr 19, 2023. MLS# OC22244707. Welcome to the prestigious 24-hour guard-gated community of La...

www.redfin.com

 

[CalBears96]

They just purchased this home in LA for 3.05M in April and are now selling it for 3.339.

64 Domani, Irvine, CA 92618 - 4 beds/3 baths

(CRMLS) Sold: 4 beds, 3 baths, 3041 sq. ft. house located at 64 Domani, Irvine, CA 92618 sold for $3,115,000 on Apr 19, 2023. MLS# OC22244707. Welcome to the prestigious 24-hour guard-gated community of La...

www.redfin.com

They seem to be forgetting that April was the peak.

 

[usctrojancpa]

They seem to be forgetting that April was the peak.

They reduced the sales price by $51k in 6 days from listing the home for sale. That seems to be pretty fast. That being said, they'll be lucky to get over $3m.

 

[Maserson]

59 Iluna, Irvine, CA 92618 - 5 beds/7 baths

(CRMLS) 5 beds, 6 baths, 5371 sq. ft. house located at 59 Iluna, Irvine, CA 92618 sold for $4,600,000 on May 9, 2022. MLS# OC22069753. located in 24 hour guard gated Luxury community, this better than mode...

www.redfin.com

10/2021 Listed for 3.6, sold 3 weeks later for 3.7
4/2022 Listed for 4.28, sold 1 month later for 4.6
7/2022 listed for 4.99, relisted again for same.

What's up with the churn? Getting money out of China?