Newer Irvine listings with crazy WTF asking prices from equity sellers
- Thread starter usctrojancpa
- Start date
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4-car garage? MUST RESIST!!!
Haha I'd have to sell everyone that I own (including the cars) to afford that. The 4-car garage had me at HELLO. =)
Like an infinity pool? That would be BOMB!
And still $638/sq. ft...
They need a few more of those $250k price reductions.
This could be their "shock and awe" strategy. Go with a out of this world starting price, follow by a huge price drop. If they were out to get attention it's certainly working.
Ronnie is the king of WTF pricing over at LA. However, this listing isn't at the same level as some of the WTF listings in LA. My guess is that this will close closer to 1.3.
Not even close....31 Lyndhurst will close for $1.125m next week (model match for 87 Nassau) and 59 Lyndhurst closed for $1.09m very recently. The plan 2s will trade in the $1.1s for the time being. Ronnie and his seller are just wasting everyone's time. Stonegate is not LGA and if he thinks he'll get a similar price per SF for the Stonegate home he's got another thing coming to him.
Thanks for providing the comps. I didn't have a chance to check myself. My original basis was from the original purchase price in Nov 2012 - $1 million. Prices are about 30% higher now (generally speaking). Not sure what happened with this property then....
usctrojancpa
Well-known member
lnc said:
4-car garage? MUST RESIST!!!
usctrojancpa
Well-known member
aquabliss said:USCTrojanCPA said:
If you have to "resist" a $2.2M listing then you're doing quite well, my friend
Haha I'd have to sell everyone that I own (including the cars) to afford that. The 4-car garage had me at HELLO. =)
Ready2Downsize
Well-known member
Someone across the street from us had experience in construction and knew about the 55+ transfer rule so they decided to sell right near the peak of the market. They waited almost two years and bought a place in Newport right under what they sold here ($2.2M), renovated it and sit with a tax basis of 700K. Not as good as these people, but these people may be dead and gone and the basis passed onto their kids. You can't do it twice, so if that is what happened, they can't take this basis with them again.
usctrojancpa
Well-known member
bones said:
Like an infinity pool? That would be BOMB!
https://www.redfin.com/CA/Irvine/193-Compass-92618/home/88015927
$250,000 price drop on 193 Compass by the Russian.
$250,000 price drop on 193 Compass by the Russian.
Irvinecommuter
New member
Goriot said:
And still $638/sq. ft...
usctrojancpa
Well-known member
Irvinecommuter said:Goriot said:
And still $638/sq. ft...
They need a few more of those $250k price reductions.
USCTrojanCPA said:Irvinecommuter said:Goriot said:
And still $638/sq. ft...
They need a few more of those $250k price reductions.
This could be their "shock and awe" strategy. Go with a out of this world starting price, follow by a huge price drop. If they were out to get attention it's certainly working.
$1.4 million Maricopa. Nicely upgraded though and no house on the back. We'll see if it sells anywhere near the asking price.
https://www.redfin.com/CA/Irvine/87-Nassau-92620/home/40101604
https://www.redfin.com/CA/Irvine/87-Nassau-92620/home/40101604
woodburyowner
Well-known member
Goriot said:
Ronnie is the king of WTF pricing over at LA. However, this listing isn't at the same level as some of the WTF listings in LA. My guess is that this will close closer to 1.3.
usctrojancpa
Well-known member
woodburyowner said:
Not even close....31 Lyndhurst will close for $1.125m next week (model match for 87 Nassau) and 59 Lyndhurst closed for $1.09m very recently. The plan 2s will trade in the $1.1s for the time being. Ronnie and his seller are just wasting everyone's time. Stonegate is not LGA and if he thinks he'll get a similar price per SF for the Stonegate home he's got another thing coming to him.
woodburyowner
Well-known member
USCTrojanCPA said:
Thanks for providing the comps. I didn't have a chance to check myself. My original basis was from the original purchase price in Nov 2012 - $1 million. Prices are about 30% higher now (generally speaking). Not sure what happened with this property then....