Newer Irvine listings with crazy WTF asking prices from equity sellers

NEW -> Contingent Buyer Assistance Program
Well this was my experience.........

ONLY Chinese can afford your house. White people can't afford it.

I'll buy the one next door to you for 200K less than what I offered you. In fact I already have a signed offer from your neighbors for that price and you will NEVER see your price again.

Stock Market bad, you better take my offer now before it's too late.

Fortunately we had multiple offers and told this person to go ahead and buy the house next door (which we knew for a fact wanted a couple hundred K more than this buyer's guaranteed counter offer.

He came back and low balled us several times and I finally raised our listing price and told him now he's got a "bargain".

We didn't know at the time he was low balling us he had tried it on our neighbors (for months claiming to buy another one for less till that one was sold and he couldn't play that card again till our house came on the market.

Too bad for him we were willing to stay and wouldn't budge. Our counter offers were the same each time he made an offer.

Finally their offer gets close to our asking and we accept it without further conditions but then he decides he doesn't want to honor that counter offer. After all he might buy the one next door and he thinks his counter was too high....... lol!

After escrow began he didn't let up....... instead of we have a guaranteed loan and can and want to close quick it became we need a long escrow and don't feel we need to give you the second half of our deposit like we agreed to after the 21 day deadline, so we aren't going to do that.

Instead of signing off on contingencies it became we don't think we need to sign off on those till it's time to close. If you don't like it, we can always buy the house next door. Holidays are coming and you won't see our price again. Take it or leave it.

Instead of letting us rent back for x number of days (after insisting on possession at 6PM  day of close instead of COE plus 3) it became we don't think u should rent back at all. If you don't like it we can always buy the house next door. You'll never see our price again.

It wasn't like they even were moving in right away. They didn't move in for 2 1/2 months after we sold the place and then it became, we want to give the house back and then when they found out that isn't done here it became  we're going to sue u because a toilet backed up, must be plumbing problems. We're going to sue you for a slow drain, must be a plumbing problem. BUT we can "settle" for a few thousand to help us not have legal problems and we might ask to have court make u take house back.

We told him politely he has a home warranty paid by us, there were no slow moving drains or backed up toilets when we moved and he can go ahead and sue us. That finally shut him up and we haven't heard a thing since.

LOL! I would call it strong arming (to use force or threats to make (someone) do what is wanted).

 
Wow, I did a double take when I saw what this was listed for when I was looking at the new listings for the day...
https://www.redfin.com/CA/Irvine/70-Lupari-92603/home/58556022

$1.5m or over $700/sf for a detached condo in Laguna Altura, that is just crazy nuts.  The seller purchased the home in the low $800s.  The seller is definitely looking for a sucker for this home, guess that's why they are offering a 3% commission for it.
 
USCTrojanCPA said:
Wow, I did a double take when I saw what this was listed for when I was looking at the new listings for the day...
https://www.redfin.com/CA/Irvine/70-Lupari-92603/home/58556022

$1.5m or over $700/sf for a detached condo in Laguna Altura, that is just crazy nuts.  The seller purchased the home in the low $800s.  The seller is definitely looking for a sucker for this home, guess that's why they are offering a 3% commission for it.

At least it's well photographed. I mean wait.. only 5 photos??
 
USCTrojanCPA said:
Wow, I did a double take when I saw what this was listed for when I was looking at the new listings for the day...
https://www.redfin.com/CA/Irvine/70-Lupari-92603/home/58556022

$1.5m or over $700/sf for a detached condo in Laguna Altura, that is just crazy nuts.  The seller purchased the home in the low $800s.  The seller is definitely looking for a sucker for this home, guess that's why they are offering a 3% commission for it.

This guy Ronnie Hackett sells a lot in Laguna Altura.  He must know what he's doing, right...
 
aquabliss said:
USCTrojanCPA said:
Wow, I did a double take when I saw what this was listed for when I was looking at the new listings for the day...
https://www.redfin.com/CA/Irvine/70-Lupari-92603/home/58556022

$1.5m or over $700/sf for a detached condo in Laguna Altura, that is just crazy nuts.  The seller purchased the home in the low $800s.  The seller is definitely looking for a sucker for this home, guess that's why they are offering a 3% commission for it.

This guy Ronnie Hackett sells a lot in Laguna Altura.  He must know what he's doing, right...

He does but only because I don't farm over there.  ;)
 
Yikes! What's up with kitchen back splash? At this price you'd think they remove the 6" granite that came with the house and redo the entire space under the upper cabinets with glass tiles. Ugh...
 
aquabliss said:
conservatory option is the weirdest thing - always looks odd and nobody knows,what to put there.
Agreed, and with small lots and shallow setbacks it can cause backyards to look downright claustrophobic!
 
Roger said:
Curious Californian said:
woodburyowner said:
Looks like the seller paid 1MM for the property originally.  I guess he's really trying to maximize the 500k capital gains tax exclusion!

Where are you able to find information on what the seller paid originally? Thanks!
should be available fromhttp://tax.ocgov.com/tcweb/search_page.asp

There is a link that shows the top 20 tax payers in the OC.  TIC is #1 always followed by Disney.  I find it odd that TIC paid 5 million more in taxes in 2012-2013 than it did this last year. 

 
USCTrojanCPA said:
So this SGV investor listed this home for $1.1m back in 2014 and it didn't sell back then so what did they do?  Listed it 2+ years later $1.4m.
https://www.redfin.com/CA/Irvine/224-Shelbourne-92620/home/51682281

Looks like ZERO upgrades were done and most likely the home has been a rental since it was purchased.  I'm going to go out on a limb and say it won't close for anywhere near $500/sf, let alone over.

Shame on the seller for trying to get $535/sq ft for this house.  And shame on any buyer who makes an offer close to that price (if there is one).  I'm predicting $485/sq ft.. 
 
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