Newer Irvine listings with crazy WTF asking prices from equity sellers

[Mawesome Sauce]

Nothing is supporting 50 in Feburary. Not inflation numbers, not job numbers.

Core is sticky. It is VERY sticky. They will shock the system then leave it higher for longer. If they don’t do it now they will be back in q3 2023. The house prices will fall either way, but I would prefer sooner rather than later so I can move in sooner.

We will find out in 2 weeks

 

[irvinehomeowner]

I’m going to cry… saving for 2 years now and still can’t get a bigger place for the kid

Were you listening to Liar Loan?

According to him... he saved the world a billion dollars if you listened to him.

I hope you can figure it out... interest rates are making finance buys really expensive which some people failed to mention when you wait for prices to drop.

 

[CalBears96]

I hope you can figure it out... interest rates are making finance buys really expensive which some people failed to mention when you wait for prices to drop.

If I had to choose higher rates or higher housing price, I'll choose higher rates. You can refinance, but you can't change the housing price.

In this particular situation, there's no other option than waiting for the housing price to drop since the rates are already high. In 2 years, both the rates and housing price will be lower than RIGHT NOW. So, in this particular situation, it's definitely the right move to wait.

 

[irvinehomeowner]

I agree with you Cal... people always say that high rates are supposed to make prices drop.

The problem is it's never proportional... so trying to time that becomes difficult.

And there has to be some other factor than high rates that are going to force lower prices... we thought a pandemic would have done it... but we saw how that turned out.

 

[irviniteeee]

IP trying to sell the single level 101 Reflection #123 for 2.4m. 100 Joshua tree which is a similar build just closed for 1.88m
https://www.redfin.com/CA/Irvine/100-Joshua-Tree-92620/home/143860376

IP tripping.

And it's now for lease: https://www.zillow.com/homedetails/101-Reflection-Irvine-CA-92620/2060516757_zpid/?

 

[CalBears96]

And it's now for lease: https://www.zillow.com/homedetails/101-Reflection-Irvine-CA-92620/2060516757_zpid/?

Wait, so IP is renting it out?

 

[Danimal]

Wait, so IP is renting it out?

No it’s been sold. One of my relatives was interested for her mother in law but IP told her it’s been sold couple of weeks b4.

Must be Chinese investor. Rent agent looks Mainland

 

[CalBears96]

No it’s been sold. One of my relatives was interested for her mother in law but IP told her it’s been sold couple of weeks b4.

Must be Chinese investor. Rent agent looks Mainland

That's what I figured, but Zillow didn't show that it was sold.

 

[Liar Loan]

If I had to choose higher rates or higher housing price, I'll choose higher rates. You can refinance, but you can't change the housing price.

You actually had that choice and you chose the opposite.

 

[sgip]

There isn't a companion thread about general OC properties but once I saw this I couldn't believe the pricing. Note -next to zero updates on this from prior sale in March...


676 Vista Ln, Laguna Beach CA 92651.

https://www.redfin.com/CA/Laguna-Beach/676-Vista-Ln-92651/home/4888112

Last sale: March 15, 2022 - $6,895,000

Current list: Jan 2nd, 2023 - $9,449,999

$2.555M appreciation in 9(ish) months? Puh Leez. The seller or agent must be high.

What say you?

 

[irviniteeee]

There isn't a companion thread about general OC properties but once I saw this I couldn't believe the pricing. Note -next to zero updates on this from prior sale in March...


676 Vista Ln, Laguna Beach CA 92651.

https://www.redfin.com/CA/Laguna-Beach/676-Vista-Ln-92651/home/4888112

Last sale: March 15, 2022 - $6,895,000

Current list: Jan 2nd, 2023 - $9,449,999

$2.555M appreciation in 9(ish) months? Puh Leez. The seller or agent must be high.

What say you?

They have confidence I'll give them that much! All I can do is L O L.

 

[CalBears96]

There isn't a companion thread about general OC properties but once I saw this I couldn't believe the pricing. Note -next to zero updates on this from prior sale in March...


676 Vista Ln, Laguna Beach CA 92651.

https://www.redfin.com/CA/Laguna-Beach/676-Vista-Ln-92651/home/4888112

Last sale: March 15, 2022 - $6,895,000

Current list: Jan 2nd, 2023 - $9,449,999

$2.555M appreciation in 9(ish) months? Puh Leez. The seller or agent must be high.

What say you?

Maybe selling agent mistook the 6 for a 9?

Are they forgetting that the housing market peaked in April, 2022, pretty much when the last transaction took place?

 

[usctrojancpa]

This listing made me laugh when I saw it pop up. So the same listing agent listed this same home back on Sept 2nd, 2022 for $1,598,000 and ended up selling it $1,390,000 on Nov 7th (I sold the same exact floor plan in Aug 2022 for $1,465,000). Now the seller who got a good deal thinks she can get almost $300k more than what she bought it for.

https://www.redfin.com/CA/Irvine/71-Cherry-Tree-92620/home/58556661

Prediction = this home will sit and sit and sit with price drops and if the seller really wants to sell the home it'll close around the mid $1.4s.

 

[Danimal]

101 Pewter, Irvine, CA 92620 - 4 beds/4.5 baths

(CRMLS) Sold: 4 beds, 4.5 baths, 3100 sq. ft. house located at 101 Pewter, Irvine, CA 92620 sold for $2,555,000 on Feb 17, 2023. MLS# OC22258007. Gorgeous Eastwood single family home with the corner locati...

redf.in

How about this house just went under contract? IMO, i dont like home that has garage on one side and front door on the other side. $2.75 mil LP for this home really? Dont know what the SP will be but wow.

 

[usctrojancpa]

101 Pewter, Irvine, CA 92620 - 4 beds/4.5 baths

(CRMLS) Sold: 4 beds, 4.5 baths, 3100 sq. ft. house located at 101 Pewter, Irvine, CA 92620 sold for $2,555,000 on Feb 17, 2023. MLS# OC22258007. Gorgeous Eastwood single family home with the corner locati...

redf.in

How about this house just went under contract? IMO, i dont like home that has garage on one side and front door on the other side. $2.75 mil LP for this home really? Dont know what the SP will be but wow.

Definitely going under list price as it took a month to get into escrow but it may close over $800/sf.

 

[Maserson]

130 Balance, Irvine, CA - 5 beds/7 baths

5 beds, 6 baths, 4605 sq. ft. house located at 130 Balance, Irvine, CA 92618 sold for $2,000,000 on Sep 13, 2022. View sales history, tax history, home value estimates, and overhead views. APN 5808...

www.redfin.com

Opposite WTF. Sold 9/2022 for 434/sq ft. Don't think it listed on MLS. What's the reason for underpriced closing, family sale? Less transaction fees? Doesn't property tax get re-adjusted anyways?

 

[CalBears96]

130 Balance, Irvine, CA - 5 beds/7 baths

5 beds, 6 baths, 4605 sq. ft. house located at 130 Balance, Irvine, CA 92618 sold for $2,000,000 on Sep 13, 2022. View sales history, tax history, home value estimates, and overhead views. APN 5808...

www.redfin.com

Opposite WTF. Sold 9/2022 for 434/sq ft. Don't think it listed on MLS. What's the reason for underpriced closing? Less transaction fees? Doesn't property tax get re-adjusted anyways?

Maybe it was sold as new construction? I can't even find it on Zillow.

Google Maps still shows the area as empty land.

 

[usctrojancpa]

130 Balance, Irvine, CA - 5 beds/7 baths

5 beds, 6 baths, 4605 sq. ft. house located at 130 Balance, Irvine, CA 92618 sold for $2,000,000 on Sep 13, 2022. View sales history, tax history, home value estimates, and overhead views. APN 5808...

www.redfin.com

Opposite WTF. Sold 9/2022 for 434/sq ft. Don't think it listed on MLS. What's the reason for underpriced closing, family sale? Less transaction fees? Doesn't property tax get re-adjusted anyways?

Looks like a private transaction not on MLS. The original owner paid $1.955m for the home in 8/19/2020. Maybe a little laundry of money?

 

[potsticker]

Definitely going under list price as it took a month to get into escrow but it may close over $800/sf.

Inventory for this size is tight in EW and neighboring villages.

 

[aquabliss]

199 Plum Lily, Irvine, CA - 3 beds/2.5 baths

Sold: 3 beds, 2.5 baths, 2185 sq. ft. condo located at 199 Plum Lily, Irvine, CA 92618 sold for $1,790,000 on Mar 21, 2023. View sales history, tax history, home value estimates, and overhead views...

redf.in

Description Reads: Probably the biggest backyard you can find in Irivne new homes!

Oh great, can’t wait to see the photos of the yard. Proceeds to open photos. None of the backyard.

The listing agent spelled Irvine wrong in the first sentence. Definite fire.