This closed for $150k over asking
Newer Irvine listings with crazy WTF asking prices from equity sellers
- Thread starter usctrojancpa
- Start date
NEW -> Contingent Buyer Assistance Program
www.zillow.com
https://www.irvinehousingblog.com/2018/04/23/orchard-hills-alta-vista-collection-review/
11/5/2020 Sold
$4,150,000
Pretty awesome ROI
And the model home for my favorite plan in the tract sold for 5M just a few years ago.
10M....LOL. If the person who bought the model home for that plan at 104 Woody Knoll wants to sell again, they can probably get 10M too because the one that just sold is very plain.
I would say that the Alta Vista homes built by Toll Brothers at the Groves at OH were similar to the Marbella homes built by Toll Brothers at Hidden Canyon and the Bella Vista homes built by Toll Brothers at the Groves at OH were similar to the Capri homes built by Toll Brothers at Hidden Canyon. From what I have heard, Toll Brothers is building homes similar to the Bella Vista and Capri homes in OH4 even though they could build much larger homes upwards of 7000 sqft+ on the bigger lots in OH4.
There are a lot of different plans I would have to upload, so I attached a couple plans for a general style reference from Toll Bros. The ones attached are some of the Toll Bros homes in the top half of OH4. And in an interesting turn of events, Toll Bros will still be building some of the Irvine Pacific plans in OH4 too.
I found the old listing and photos of 110 Nest Pine below and it seems like a flipper bought it in 2020 for $4.1M, did some renovations and landscaping after that and now sold it for $10M which proved the Irvine naysayers wrong as that is literally MAX ROI!
www.estately.com
Also, right now, FCBs can't afford such a huge appetite. Chinese economy isn't doing well.
Just sold for $10M, LOL! I guess this is a good comp for the builders building the new homes in OH4!
110 Nest Pne, Irvine, CA 92602 | Zillow
110 Nest Pne, Irvine CA, is a Single Family home that contains 7000 sq ft and was built in 2018.It contains 5 bedrooms and 6 bathrooms.This home last sold for $10,000,000 in September 2024. The Rent Zestimate for this Single Family is $21,036/mo, which has increased by $21,036/mo in the last...
www.zillow.com
CalBears96
Well-known member
This one is a 7000 sq ft home with 4 car garage. Even the Toll Brothers homes at the top aren't close to this size.Just sold for $10M, LOL! I guess this is a good comp for the builders building the new homes in OH4!
110 Nest Pne, Irvine, CA 92602 | Zillow
110 Nest Pne, Irvine CA, is a Single Family home that contains 7000 sq ft and was built in 2018.It contains 5 bedrooms and 6 bathrooms.This home last sold for $10,000,000 in September 2024. The Rent Zestimate for this Single Family is $21,036/mo, which has increased by $21,036/mo in the last...
someguy
Active member
I think they actually were TB homes. Part of the "Alta Vista" and "Bella Vista" tracts
https://www.irvinehousingblog.com/2018/04/23/orchard-hills-alta-vista-collection-review/
11/5/2020 Sold
$4,150,000
Pretty awesome ROI
irviniteeee
Active member
This is one of the TB plans. The model home for this exact plan sold for 8M in 2023.
And the model home for my favorite plan in the tract sold for 5M just a few years ago.
10M....LOL. If the person who bought the model home for that plan at 104 Woody Knoll wants to sell again, they can probably get 10M too because the one that just sold is very plain.
CalBears96
Well-known member
Yoda was referring to OH4, and that biggest TB homes in OH4 are going to be around 5000 sq ft.
irviniteeee
Active member
Ahh I got you now. Yeah the OH4 TBs actually looks kind of underwhelming in comparison to the Bellas.
I was referring to the 110 Nest Pine sold comp which the OH4 new home builders will probably use to their advantage and price their homes aggressively in OH4 based on the recent sold comps when they know that FCB's have an appetite for ridiculously priced homes in Irvine. The builders are also well aware that FCB's love brand new, never lived in homes and the new home smell!
I would say that the Alta Vista homes built by Toll Brothers at the Groves at OH were similar to the Marbella homes built by Toll Brothers at Hidden Canyon and the Bella Vista homes built by Toll Brothers at the Groves at OH were similar to the Capri homes built by Toll Brothers at Hidden Canyon. From what I have heard, Toll Brothers is building homes similar to the Bella Vista and Capri homes in OH4 even though they could build much larger homes upwards of 7000 sqft+ on the bigger lots in OH4.
irviniteeee
Active member
The plans have been fully revealed already. I found them on the Irvine public records website. TB decided to do plans similar to the ones in The Meadows in LF.
CalBears96
Well-known member
I know you were doing that. That's what I stated. I was pointing out that 110 Nest Pine is 7000 sq ft home sitting on a 0.33 acre lot, with 4 car garage. TB can't comp that home against their 5000 sq ft homes with 2 car garage.
CalBears96
Well-known member
Aren't the TB homes in OH4 much larger than Evergreen at The Meadows? Evergreen homes are 3400 to 3700 sq ft while OH4 will be up to 5000 sq ft.
irviniteeee
Active member
Yeah they're bigger but style-wise they look very similar to The Meadows. They decided to go that route instead of their other style which is more signature TB like the Vistas.
There are a lot of different plans I would have to upload, so I attached a couple plans for a general style reference from Toll Bros. The ones attached are some of the Toll Bros homes in the top half of OH4. And in an interesting turn of events, Toll Bros will still be building some of the Irvine Pacific plans in OH4 too.
Attachments
Last edited:
TB will probably use it to comp the view lots they sell and charge a premium for OH4 being located in IUSD even though 110 Nest Pine had much larger interior sqft at approximately 7000 sqft but was located in TUSD.
I found the old listing and photos of 110 Nest Pine below and it seems like a flipper bought it in 2020 for $4.1M, did some renovations and landscaping after that and now sold it for $10M which proved the Irvine naysayers wrong as that is literally MAX ROI!
110 Nest Pine, Irvine, CA 92602 | Estately 🧡 | MLS# OC20192028
110 Nest Pine, Irvine, CA 92602 is a 5 bed, 6 bath, 6,354 sqft house sold for $4,150,000 on 11/5/20. MLS# OC20192028.
www.estately.com
Last edited:
vsfan
Active member
I m lost at the concept that public school rating matters for 10M listing…TB will probably use it to comp the view lots they sell and charge a premium for OH4 being located in IUSD even though 110 Nest Pine had much larger interior sqft at approximately 7000 sqft but was located in TUSD.
I found the old listing and photos of 110 Nest Pine below and it seems like a flipper bought it in 2020 for $4.1M, did some renovations and landscaping after that and now sold it for $10M which proved the Irvine naysayers wrong as that is literally MAX ROI!
110 Nest Pine, Irvine, CA 92602 | Estately 🧡 | MLS# OC20192028
110 Nest Pine, Irvine, CA 92602 is a 5 bed, 6 bath, 6,354 sqft house sold for $4,150,000 on 11/5/20. MLS# OC20192028.
CalBears96
Well-known member
The best case for a comp would be price per sq ft, and the current rate for all new homes or resales with view is $1400-$1600/sq ft. So the best TB can do for their view lots (not normal homes) is $7.5M to $8M range. TB is smart enough to know that no one is going to buy at $10M.TB will probably use it to comp the view lots they sell and charge a premium for OH4 being located in IUSD even though 110 Nest Pine had much larger interior sqft at approximately 7000 sqft but was located in TUSD.
I found the old listing and photos of 110 Nest Pine below and it seems like a flipper bought it in 2020 for $4.1M, did some renovations and landscaping after that and now sold it for $10M which proved the Irvine naysayers wrong as that is literally MAX ROI!
110 Nest Pine, Irvine, CA 92602 | Estately 🧡 | MLS# OC20192028
110 Nest Pine, Irvine, CA 92602 is a 5 bed, 6 bath, 6,354 sqft house sold for $4,150,000 on 11/5/20. MLS# OC20192028.
Also, right now, FCBs can't afford such a huge appetite. Chinese economy isn't doing well.
It's an Irvine thing called the IUSD premium!
Sales have definitely slowed down as the new home builders in PS and in OH have a lot of unsold and "quick move in" homes in their tracts currently so it would be wise for the builders in OH4 to not price their initial homes ridiculously but I anticipate that there will be a lot of demand for OH4 since it is one of the last new home community being built outside of Great Park so the builders will definitely charge a premium for "brand new" and for OH4 being a guard gated community and located in IUSD and will most likely price their homes much higher than the resales but the market could of course change by the time they release the initial homes next year.
sleepy5136
Well-known member
It’s a public school guys…..It's an Irvine thing called the IUSD premium!
Public schools drive massive premiums in the Bay Area. Look at Los Gatos 95030 sales prices vs Los Gatos 95032 which doesn’t district into the Los Gatos-Saratoga districts. IUSD drives a premium because it’s the only high income majority Asian district in OC and OC lacks top end privates like you find in LA or the bay.
irviniteeee
Active member
You would be surprised how many people send their kids to public schools even living in homes priced that high. I went to Uni (University High) and we had lots of students from Shady Canyon and even some from Newport.