Newer Irvine listings with crazy WTF asking prices from equity sellers

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Tyler Durden said:
The yard & pool is about 120-150K minimum.  Then I bet they added the upgrades through the builder (like putting wood flooring in the garage!), chandeliers, paint, ceiling fans, bookshelves, wainscoting, AV upgrades, etc.

they are counting 200k worth of furniture in the listing.

I'd love to see the complete list of upgrades.
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Given my own recent landscaping costs, I'd double your estimate for the yard and pool.
 
irvinehomeowner said:
$1m in upgrades? Really? What could cost $1m? Gold toilets? Platinum plumbing?
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Looks like a coffered ceiling and those are expensive if done well.

Doesn't mean they'll get their money back tho.
 
bones said:
bones said:
One of LR's the Grove has hit the market.  Asking $2.6M with over $1M (!!) in upgrades.  $500psf.  Weren't these selling for like low $300s psf just a year ago?  Looks like a good lot though. 
http://www.redfin.com/CA/Irvine/50-Clifford-92618/home/52204021

A recent comp (75 Clifford) sold for $2m two months ago.  No landscaping, but the interior looked fairly upgraded.  Slightly smaller, sold at $413 psf.
http://www.redfin.com/CA/Irvine/75-Clifford-92618/home/45498169
Click to expand...

This went pending after 44 days.  Will be curious to see what it closes at.
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$2,325,000.
$274,888 (11%) below asking.
 
quattroporte said:
bones said:
bones said:
One of LR's the Grove has hit the market.  Asking $2.6M with over $1M (!!) in upgrades.  $500psf.  Weren't these selling for like low $300s psf just a year ago?  Looks like a good lot though. 
http://www.redfin.com/CA/Irvine/50-Clifford-92618/home/52204021

A recent comp (75 Clifford) sold for $2m two months ago.  No landscaping, but the interior looked fairly upgraded.  Slightly smaller, sold at $413 psf.
http://www.redfin.com/CA/Irvine/75-Clifford-92618/home/45498169
Click to expand...

This went pending after 44 days.  Will be curious to see what it closes at.
Click to expand...

$2,325,000.
$274,888 (11%) below asking.
Click to expand...

$2,325,001 above what you can afford.
 
test said:
quattroporte said:
bones said:
bones said:
One of LR's the Grove has hit the market.  Asking $2.6M with over $1M (!!) in upgrades.  $500psf.  Weren't these selling for like low $300s psf just a year ago?  Looks like a good lot though. 
http://www.redfin.com/CA/Irvine/50-Clifford-92618/home/52204021

A recent comp (75 Clifford) sold for $2m two months ago.  No landscaping, but the interior looked fairly upgraded.  Slightly smaller, sold at $413 psf.
http://www.redfin.com/CA/Irvine/75-Clifford-92618/home/45498169
Click to expand...

This went pending after 44 days.  Will be curious to see what it closes at.
Click to expand...

$2,325,000.
$274,888 (11%) below asking.
Click to expand...

$2,325,001 above what you can afford.
Click to expand...
Did you mean $2,324,999? Having problems using a calculator?
 
quattroporte said:
bones said:
bones said:
One of LR's the Grove has hit the market.  Asking $2.6M with over $1M (!!) in upgrades.  $500psf.  Weren't these selling for like low $300s psf just a year ago?  Looks like a good lot though. 
http://www.redfin.com/CA/Irvine/50-Clifford-92618/home/52204021

A recent comp (75 Clifford) sold for $2m two months ago.  No landscaping, but the interior looked fairly upgraded.  Slightly smaller, sold at $413 psf.
http://www.redfin.com/CA/Irvine/75-Clifford-92618/home/45498169
Click to expand...

This went pending after 44 days.  Will be curious to see what it closes at.
Click to expand...

$2,325,000.
$274,888 (11%) below asking.
Click to expand...

The furniture was removed from escrow (and was part of the original sale price). That was a separate $200,000 deal. So, it was actually only $74,888 below asking.
 
NYT said:
quattroporte said:
bones said:
bones said:
One of LR's the Grove has hit the market.  Asking $2.6M with over $1M (!!) in upgrades.  $500psf.  Weren't these selling for like low $300s psf just a year ago?  Looks like a good lot though. 
http://www.redfin.com/CA/Irvine/50-Clifford-92618/home/52204021

A recent comp (75 Clifford) sold for $2m two months ago.  No landscaping, but the interior looked fairly upgraded.  Slightly smaller, sold at $413 psf.
http://www.redfin.com/CA/Irvine/75-Clifford-92618/home/45498169
Click to expand...

This went pending after 44 days.  Will be curious to see what it closes at.
Click to expand...

$2,325,000.
$274,888 (11%) below asking.
Click to expand...

The furniture was removed from escrow (and was part of the original sale price). That was a separate $200,000 deal. So, it was actually only $74,888 below asking.
Click to expand...

Even if it was $2,599,889 below asking quattroporte can't afford it.  But he still loves to obsess over other peoples homes.

 
These prices are not sustainable for the long term. How many really make $800,000 a year? China FCBs will eventually dry up and those who could spend $2m+ would want a sliver of ocean view and not taillights.
 
irvinehomeshopper said:
These prices are not sustainable for the long term. How many really make $800,000 a year? China FCBs will eventually dry up and those who could spend $2m+ would want a sliver of ocean view and not taillights.
Click to expand...
That's what everyone keeps saying, but Irvine just turns around, lays a rainbow turd and keeps going up.
 
Very thankful for these Clifford sales driving up $/sqft in the area. Purchasing at LR was a good investment after all. I almost went with Laguna Altura and their cali glove compartment backyards. 8)
 
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