Newer Irvine listings with crazy WTF asking prices from equity sellers

NEW -> Contingent Buyer Assistance Program
Irvine Fanatic said:
USCTrojanCPA said:
bones said:
gasman said:
lnc said:
I'm wonder what most of you on TI would do if you are selling this house.

1. List high ($1.2 to $1.3 million) than let the buyer negotiated down or mark down later.

2. List close to comp around maybe around $1.15 m.

3. List aggressively,  list below the comp (aka USCT way :) ) and see what market will takes it to.
Click to expand...

This time of year, in this price range/inventory/demand, I would go with #2.  In a hot market, I would go #3, but homes in the >$1M range aren't moving too fast right now.  #1 is death.
Click to expand...

I tend to agree.  Interested to see how the USC #3 way would work on a $1.1M+ house in this market.  :)
Click to expand...

My experience is that buyers of homes over $1m tend to be more particular about the home that they are willing to buy for over $1m.  I think location and floor plan are even more important to those buyers than buyers of homes below $1m.
Click to expand...

Q USCT You mention location and floorplan, what about lot size? In your experience whats the ranking for buyers of over $1M?
Click to expand...
I'd say that location and floorplan are basically tied for first and lot size would fall behind that.  Most buyers (even the owns looking at buying $1m+ homes) know that most Irvine homes do not have larger lots so they'll focus in on the location of the home and the layout/floorplan. 
 
irvinehomeowner said:
So is USC saying that for his over $1m listings he uses #2?
Click to expand...

I lay out 3 pricing strategies for sellers and give them the pros and cons of each one.  That being said, I think that pricing aggressively has more of an effect on lower priced homes due to the law of large numbers.  Ultimately, it's the seller who makes the final decision on the listing price. 
 
aquabliss said:
Sometimes I just don't get people.  I can only imagine how this happens:

Homeowner: Mr. RE Agent, I'd like you to put my house on the market?
RE Agent: Oh great, you mean your 4,600sq ft home in coveted Lambert Ranch?
Homeowner: Yes, that's the one, let's list it for $2.35M
RE Agent: OK I'll have my professional photographer come over this weekend.
Homeowner: Naaaa, that's ok, I just took some pics with my iPhone and I'll send 'em over to you.
RE Agent: You want to list your $2.35M home with iPhone pictures?
Homeowner: Ya, it's a hobby of mine and they will come out great.
RE Agent: (sigh), ok you're the boss - just email them to me and I'll create the listing.

And thus, the product:https://www.redfin.com/CA/Irvine/74-Clifford-92618/home/96703971
Click to expand...

This home has been re-listed at a slightly lower price and with a new agent. It's amazing what some staging and a professional photographer get you. I had saved the old pics. They were pathetic.
https://www.redfin.com/CA/Irvine/74-Clifford-92618/home/96703971#main
 
NYT said:
aquabliss said:
Sometimes I just don't get people.  I can only imagine how this happens:

Homeowner: Mr. RE Agent, I'd like you to put my house on the market?
RE Agent: Oh great, you mean your 4,600sq ft home in coveted Lambert Ranch?
Homeowner: Yes, that's the one, let's list it for $2.35M
RE Agent: OK I'll have my professional photographer come over this weekend.
Homeowner: Naaaa, that's ok, I just took some pics with my iPhone and I'll send 'em over to you.
RE Agent: You want to list your $2.35M home with iPhone pictures?
Homeowner: Ya, it's a hobby of mine and they will come out great.
RE Agent: (sigh), ok you're the boss - just email them to me and I'll create the listing.

And thus, the product:https://www.redfin.com/CA/Irvine/74-Clifford-92618/home/96703971
Click to expand...

This home has been re-listed at a slightly lower price and with a new agent. It's amazing what some staging and a professional photographer get you. I had saved the old pics. They were pathetic.
https://www.redfin.com/CA/Irvine/74-Clifford-92618/home/96703971#main
Click to expand...

Why do the descriptions always say "24 Hour Guard Gated"?  Are there some Guard Gated communities where the Guard leaves at 5pm then residents have to use a pin-pad to open the gate after hours?
 
aquabliss said:
Why do the descriptions always say "24 Hour Guard Gated"?  Are there some Guard Gated communities where the Guard leaves at 5pm then residents have to use a pin-pad to open the gate after hours?
Click to expand...

It's just standard industry marketing lingo.  The real difference is guard gated vs. non-guard gated (eg Oak Creek).

Why would you describe something as simply "red", when you can describe it as "a bold, carbernet ruby"? :)
 
The only time I see a non 24 hr guard gate is if it's a secondary entrance.  Only there for some period of time, then after hours need to go to the main entrance with 24 hr guard.
 
aquabliss said:
NYT said:
aquabliss said:
Sometimes I just don't get people.  I can only imagine how this happens:

Homeowner: Mr. RE Agent, I'd like you to put my house on the market?
RE Agent: Oh great, you mean your 4,600sq ft home in coveted Lambert Ranch?
Homeowner: Yes, that's the one, let's list it for $2.35M
RE Agent: OK I'll have my professional photographer come over this weekend.
Homeowner: Naaaa, that's ok, I just took some pics with my iPhone and I'll send 'em over to you.
RE Agent: You want to list your $2.35M home with iPhone pictures?
Homeowner: Ya, it's a hobby of mine and they will come out great.
RE Agent: (sigh), ok you're the boss - just email them to me and I'll create the listing.

And thus, the product:https://www.redfin.com/CA/Irvine/74-Clifford-92618/home/96703971
Click to expand...

This home has been re-listed at a slightly lower price and with a new agent. It's amazing what some staging and a professional photographer get you. I had saved the old pics. They were pathetic.
https://www.redfin.com/CA/Irvine/74-Clifford-92618/home/96703971#main
Click to expand...

Why do the descriptions always say "24 Hour Guard Gated"?  Are there some Guard Gated communities where the Guard leaves at 5pm then residents have to use a pin-pad to open the gate after hours?
Click to expand...

When you hire a guard service, you can do different tiers of service, i.e. you can hire for 8 hours, 16 hours or 24 hours. I suppose for some communities, you can hire a guard for the busier times and at other times have a pin-code entry. I don't know of any that have this, but just saying it's a possibility.
 
aquabliss said:
Why do the descriptions always say "24 Hour Guard Gated"?  Are there some Guard Gated communities where the Guard leaves at 5pm then residents have to use a pin-pad to open the gate after hours?
Click to expand...

We own a house that is guard gated between 6PM to 6AM only.  The rest of the time the gate is open. 
 
aquabliss said:
This isn't in Irvine but had to post the crazy Baker Ranch Heights model asking price at $686 / sq ft.
https://www.redfin.com/CA/Lake-Forest/25-Bellflower-92630/home/81813056

Will take 20 years for the buyer of this to break even.
Click to expand...

This has been stuck at "Pending" since August 17th, even a 45 day escrow would have long since closed.

I keep checking this one as I'm curious what the final sales price was.  Perhaps it hasn't really been sold yet after all.
 
aquabliss said:
ChasingRainbows said:
Here is a Woodbury listing that dropped $200k two days ago.
https://www.redfin.com/CA/Irvine/27-Gazebo-92620/home/5958687
Click to expand...

AquaBlissFin predicts this home will sell in 9 days.
Click to expand...

But see how much time they wasted, why do that to the sellers (think about how many times they showed the home).  What do you think most buyers will think when they see the home has been lingering on the market for 90+ days?  Most will ask themselves...."what's wrong with this home?"  Then when they go to the they will already have that negative mindset looking for any possible negatives, big or small.  Hence why it is important to not let a listing sitting around collecting dust. 
 
USCTrojanCPA said:
But see how much time they wasted, why do that to the sellers (think about how many times they showed the home).  What do you think most buyers will think when they see the home has been lingering on the market for 90+ days?  Most will ask themselves...."what's wrong with this home?"  Then when they go to the they will already have that negative mindset looking for any possible negatives, big or small.  Hence why it is important to not let a listing sitting around collecting dust. 
Click to expand...

We really need a new thread containing listings that are closing near WTF pricing.  There must be some properties where people think the price is outrageous, but it ends up selling anyways.  There must be a few examples of this that the agents are chasing after.
 
aquabliss said:
ChasingRainbows said:
Here is a Woodbury listing that dropped $200k two days ago.
https://www.redfin.com/CA/Irvine/27-Gazebo-92620/home/5958687
Click to expand...

AquaBlissFin predicts this home will sell in 9 days.
Click to expand...
Their was a relatively similar comp on this home for like 1.1 a couple months back. They still have it priced too high so I think given how long it has been on the market, it will still sit a bit (this would have been a good starting spot to list the home at though vs. the absurd starting point they had initially). Downstairs masters have a smaller "buyer" base to begin with. I would have bought the one for ~1.1 had I been able to convince my wife to live with the downstairs master, but with young kids, she wasn't having any of it. 
 
gasman said:
ChasingRainbows said:
Get your live auction on.
https://www.redfin.com/CA/Irvine/39-Snowdrop-Tree-92606/home/7202239

This home was listed two days ago for $1.688k, dropped to $900k then $899k (minimum bid price).

Don't quite understand the auction strategy.
Click to expand...


#DesperatelyTryingToBeDifferent

#ShouldHaveHiredUSCTrojanCPA
Click to expand...


I think this realtor does this often.  I was looking at a couple of his listings in Newport Beach.  They both had big price changes to get attention.
https://www.redfin.com/CA/Newport-Beach/2057-Commodore-Rd-92660/home/3560072https://www.redfin.com/CA/Newport-Beach/1736-Irvine-Ave-92660/home/3560026
 
You must log in or register to reply here.
Back
Top