usctrojancpa
Well-known member
My buyer purchased that home. We used an escalation clause and tight terms to beat a cash buyer and get the home (home had 8 total offers).
Newer Irvine listings with crazy WTF asking prices from equity sellers
- Thread starter usctrojancpa
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NEW -> Contingent Buyer Assistance Program
My buyer purchased that home. We used an escalation clause and tight terms to beat a cash buyer and get the home (home had 8 total offers).
What's an example of a home with really nice upgrades and design features?
Seems like Evergreen is sold out but I'll go check out a Magnolia model home sometime. I am more looking for remodeling inspo than to actually buy a new tract home, haha
It really pisses me off that people use their garage for storage and park their cars on the street. I don't mind it as much if your lived in a SFR and parked on your driveway, but don't do that when you live in a condo. It was bad enough when Irvine only had two thrash bins, but now that they added the green/food waste one, that makes trash day really really bad with all these cars on the street.
Fortunately, I'll be out of there in 6 months and won't have to deal with that shit anymore.
My most recent (2023) run in with a money launderer was for an Irvine purchase of a resale home. The husband and wife were essentially H-1B Visa middle income customers but nearly personal zero assets. Both were receiving regularly wired funds ranging from $30k to $45k until they reached the down payment number needed to put an offer in. Each of the wires originated from different Chinese banks and from different "relatives" (aunts, 2nd cousins, nephews). Each of the wires had a header like "vacation spending money", or "funds for repairs" - similar to the Biden's use of a $200k "loan repayment" check to hide the real source of the funds.... but I digress... Eventually I ended up not doing the loan because I asked for gift letters and sourcing of funds. Most of these deposits flowed to the buyer within a 60 day window and of course lenders want to see 2 months bank statements when verifying funds. The buyer went to another LO within the bank and closed without incident. I know how this deal was able to be closed at the same bank I was at, but this isn't the place to discuss the details about that part of the transaction.
Multiple wires disguised as extended family donations has been the preferred way to draw cash out of the PRC for the home buyers I've bumped into over the years who are really just laundering cash of suspicious origin to get MAX ROI!!!
We aren't a young couple anymore, we are 45 with 2 "adult" (legally, as of this weekend) children still living at home. We have to rent, because without a massive down payment which we don't yet have, we can't afford to buy a suitable home here. We have been renting since we moved to Irvine in 2004. Buying has been out of the question for middle income families for a long time in Irvine. Renting is approximately 50% the monthly cost of homeownership here. Buying is a terrible financial decision right now for anyone who needs to take out a mortgage with only 20% down.
. It’ll be up for rent next week.
My buyer purchased that home. We used an escalation clause and tight terms to beat a cash buyer and get the home (home had 8 total offers).
Hugo Township
Active member
I agree, the worst model home I have seen in Orchard Hills to date, the materials and upgrades are so underwhelming inside and mostly look builder standard. Also this specific Azul plan has only 3.5 baths so the layout is not ideal and a complete joke for the asking price!
Doesn't look like a model home from IP and looks like a model home from some discount builder!
What's an example of a home with really nice upgrades and design features?
As for the model homes from the various builders in OC, I would say Toll Brothers goes over the top on their model homes materials, decor, furnishings and landscaping in them!
CalBears96
Well-known member
Definitely. I would say Evergreen at The Meadows is the best model homes I've seen since I started looking for homes in 2021. Their materials, decor and furnishing are better than IP's model homes, but not by much. However, their landscaping is far far better than anything models I've seen.
Imnotmoving
Member
How much money are these fcb willing to blow on a house and a white Tesla? They don’t let their children even interact with other kids….its the weirdest culture I have been around. Their kids will end up in a corporate job making 250 a year…no interpersonal skills, no life…
Hugo Township
Active member
Seems like Evergreen is sold out but I'll go check out a Magnolia model home sometime. I am more looking for remodeling inspo than to actually buy a new tract home, haha
irvine buyer
Active member
Not fair to lump all into one stereotype. If they are from China, it could be a number of factors. Language, culture, but also a deep paranoia about government surveillance...even in the US. Kids might say something that comes back to haunt the family. I would say that just because the kids are selective with whom they interact with doesn't mean they don't have friends.
zubs
Well-known member
I always think the Chinese neighbors keep to themselves cause they don't wanna get gestopo'd.
I mean moving a couple of million from China to Irvine so they can buy a house must be breaking some kind of law there.
How can Chinese legally move $50,000 per annum and be able to buy a house in Cali?
I mean moving a couple of million from China to Irvine so they can buy a house must be breaking some kind of law there.
How can Chinese legally move $50,000 per annum and be able to buy a house in Cali?
The Motor Court Company
Well-known member
best neighbor is no neighbors =)
CalBears96
Well-known member
I guess it comes down what you look for in your neighbors. If you want nice and quiet neighbors with little interactions, then East Asian neighbors would be ideal. But not everyone is used to, or like, a neighborhood where everyone keeps to themselves.
CalBears96
Well-known member
I couldn't agree more. It was so nice when both of houses across from mine were empty. Few cars in the street. Now many cars even park illegally on the street and the security car hired by HOA that drive by doesn't care anymore. They gave us two tickets before.
It really pisses me off that people use their garage for storage and park their cars on the street. I don't mind it as much if your lived in a SFR and parked on your driveway, but don't do that when you live in a condo. It was bad enough when Irvine only had two thrash bins, but now that they added the green/food waste one, that makes trash day really really bad with all these cars on the street.
Fortunately, I'll be out of there in 6 months and won't have to deal with that shit anymore.
Liar Loan
Well-known member
This is so sad. I think community fulfills a basic human desire/need. Yeah, neighbors can sometimes be a pain, but the benefits of having good neighbors can far outweigh that.
irviniteeee
Active member
A lot of areas in Irvine are experiencing this now. It's very block by block. I have a friend who lives in a motorcourt home in Stonegate, and all of his neighbors use their garages for their cars, but then I've seen other areas in Quail Hill, Northpark, etc. where very few actually use their garages for their cars or have so many cars that they leave them outside of their garages or blocking places they shouldn't be. Street parking has gotten ridiculous in many neighborhoods now too. In Quail Hill, cars park almost all the way down Passage to the shopping center sometimes, back in the day, barely anybody ever parked there. The parking is so scarce that if a guest comes over, they might not find a spot. I can't speak to some of the newer neighborhoods that I see with these issues, but my theory with places like Quail Hill or other villages from around 20 years ago is that some of the kids of original owners have gotten older and now have their own cars that need to be parked somewhere.
sgip
Well-known member
My most recent (2023) run in with a money launderer was for an Irvine purchase of a resale home. The husband and wife were essentially H-1B Visa middle income customers but nearly personal zero assets. Both were receiving regularly wired funds ranging from $30k to $45k until they reached the down payment number needed to put an offer in. Each of the wires originated from different Chinese banks and from different "relatives" (aunts, 2nd cousins, nephews). Each of the wires had a header like "vacation spending money", or "funds for repairs" - similar to the Biden's use of a $200k "loan repayment" check to hide the real source of the funds.... but I digress... Eventually I ended up not doing the loan because I asked for gift letters and sourcing of funds. Most of these deposits flowed to the buyer within a 60 day window and of course lenders want to see 2 months bank statements when verifying funds. The buyer went to another LO within the bank and closed without incident. I know how this deal was able to be closed at the same bank I was at, but this isn't the place to discuss the details about that part of the transaction.
Multiple wires disguised as extended family donations has been the preferred way to draw cash out of the PRC for the home buyers I've bumped into over the years who are really just laundering cash of suspicious origin to get MAX ROI!!!
panda
Well-known member
I am genuinely curious? How does a young couple in their 20s or early 30s afford a starter condo like this with mortgage rates at 7%+ to start a family in Irvine? It just seems crazy to me that a tiny 3 Bed condo with 1275 sqft living space would sell for $1.28M. It almost seems as if Irvine turning into Gangnam district in Seoul. Not the right soil for love, romance, marriage, and starting a family.
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They don't. They rent.
We aren't a young couple anymore, we are 45 with 2 "adult" (legally, as of this weekend) children still living at home. We have to rent, because without a massive down payment which we don't yet have, we can't afford to buy a suitable home here. We have been renting since we moved to Irvine in 2004. Buying has been out of the question for middle income families for a long time in Irvine. Renting is approximately 50% the monthly cost of homeownership here. Buying is a terrible financial decision right now for anyone who needs to take out a mortgage with only 20% down.
This is no buyer with mortgage. It’s all cash investment considered how fast it went in and out of escrow
. It’ll be up for rent next week.ThirtySomethingWEquity
Active member
The words you're looking for is Bribery + Fraud.