Newer Irvine listings with crazy WTF asking prices from equity sellers

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Irvine Dream said:
North Parks poor step sister North Park Square is taking off now.https://www.redfin.com/CA/Irvine/1-Dos-Rios-92602/home/5858991

Qwerty, hope one day Columbus Square also will come up to par with other listing and make you lots of money ;D

Thanks Irvine Dream. Our neighborhood has gone up about 20-25% since I bought in 2012. I've shared my views on housing, unless you cash out and move to a lower cost area you don't really realize the benefit. The key for me was actually buying in 2012 to move up with the market. And when we move from OC it will likely be to La Jolla, another expensive market, to be closer to my wife's family and my family. With that said, unless there are high performing schools in zoned to Tustin legacy the area will always trade at a discount to Tustin ranch. And I belwive Tustin ranch already trades at a discount to irvine (I think). I do think the gap will close when the area is fully built out and everything they say will be built is actually built (schools, county park, etc).
 
Irvine Dream said:
North Parks poor step sister North Park Square is taking off now.https://www.redfin.com/CA/Irvine/1-Dos-Rios-92602/home/5858991

Qwerty, hope one day Columbus Square also will come up to par with other listing and make you lots of money ;D
The seller has a nice sized lot with a pool but it basically sides to Irvine Blvd....they are dreaming if they think they'll get over $500/sf given the proximity to Irvine Blvd and the Central Park Ave. 
 
bones said:
ps9 said:
https://www.redfin.com/CA/Irvine/122-Fieldwood-92618/home/51682477

Plan 2 Sagewood with the super great room and conservatory build out.  At this price, it's more than the models that recently sold.  I'll buy in BP if this goes pending within a month at this price.

A plan 2 supposedly closed last month at $1.46m. No landscaping. I'm guessing these guys are using that one as the comp.

This listing is a must-follow. Nice house, nice flooring, great yard, albeit completely paved; but is Pavilion Park, or the location of this house special? A 1.8% tax rate ain't special compared to Stonegate and Orchard Hills.
 
... And the home does not even have an attached bathroom in the secondary bedroom, two bedrooms upstairs share one bathroom. Although it is the rationale of the buyer who paid that price, it is baffling to see such a high price for an ordinary plan in a community that has no school or shopping access :o
Does the gated access deserve such a premium? It is not difficult to find an excellent plan with a view and lot at QH within that price range.
 
ps9 said:
https://www.redfin.com/CA/Irvine/33-Sage-Crk-92603/home/5856230

buy custom lot in shady, build mansion, flip for $4-5 million profit, retire, sounds easy....
Not sure they are going to make a $4-5 million profit....the house isn't going to be build for free.  The $1.6 or $1.8 million is what the lot cost.  A custom home will cost at least $300/sf if not more so all in figure $4+ million.  Then deduct interest, commissions, carrying costs, taxes, and you are probably looking around $1m net profit after taxes and costs....still not bad. 
 
USCTrojanCPA said:
aquabliss said:
USCTrojanCPA said:
Why is this seller wasting everyone's time with this listing?
https://www.redfin.com/CA/Irvine/127-Compass-92618/home/65023404

Over $500/sf at PP?  Come on, the seller paid $890k for the home back in Nov. 2013.  $1m?  Sure  $1.1m?  If they find the right buyer and they put in $$$ into the backyard.  But $1.3m is nuts.

$150k price drop.  Looks like reality has set in.
They still have another $100k +/- to go....

TI did a great job of killing house value..  1.3 mil to 1.1 mil now...
 
irvinehomeowner said:
yaliu07 said:
TI did a great job of killing house value..  1.3 mil to 1.1 mil now...
If only we could use that power for good... like stopping cemeteries... or drafting Okafor.

#iheartyaliu

So, you want a big plodding center who'll get killed every time down the floor "defending" relentless pick-&-rolls, and then get intentionally fouled repeatedly clanking half of his freethrows? No thanks. The right pick was made. Showtime!
 
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