Newer Irvine listings with crazy WTF asking prices from equity sellers

NEW -> Contingent Buyer Assistance Program
In retrospect, I should have bought in Laguna Altura within the first year I moved down here from Alaska, but I like many others, was waiting for the other shoe to drop. We all know how that worked. That being said, I still didn't like the homes, or the large HOA fee, and am curious if anyone else has noticed how many $1M+ homes have hit the market in the past 30 days. That and I feel that a gated community in Irvine is redundant. I mean, I bike through there on an almost daily basis, it's not like it's impenetrable, just go through the bike path and proceed to do whatever harm they are so concerned about

Hidden Canyon though is just ridiculous-

A) Not that Hidden, can see it from a few miles away in a half dozen different directions
B) Huge houses on small lots. Seems like overcompensating if you ask me..
C) They do actually have that place on lock down. Even the bike path is gated, although they didn't have it secured when I went through around new years day
 
For 2 story homes, interior size and lot size ratio at 1:2 is very ideal.  Although I doubt you will find ANY new development w/ that kind of ratio.  For example, 2000 sqft home on a 4000 sqft lot is considered VERY good in today's standards.

Some HC homes in the earlier phases have smaller lots, the lots for the earlier Marbellas is around 8100 sqft, very small lots considering the homes' size.  These lots are also in the lower elevation.

TB increased the Marbella's pricing by $250k to $300k since it opened, and the additional premium buys you larger lots, and higher elevation.  WRT the lot size, the size is not just the backyard size, also SIDE yard (you get a whopping 17-20 ft between you and your neighbor on the side).  The average lot size also goes up to 10000 sqft. 

Would you pay $250k to $300k more for 2000 sqft more lot, and being on the top of the hill? 
 
USCTrojanCPA said:
Wow, this one is just stupid and beyond a waste of time...
https://www.redfin.com/CA/Irvine/109-Tranquil-Hts-92618/home/113087430

$868/sf for Hidden Canyon?  Uhhhh no thanks, I'll go to Shady Canyon and Newport Coast for that kind of price tag.
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They have some interesting paint and decor choices. One would think that someone who can afford a house like that would hire a professional interior designer.
It goes to show how much of the "wow" factor from Hidden Canyon homes comes from the professional interior design and upgrades of the model homes.
Owners must be Asian-the cheesy blown up wedding glamour shots are a dead giveaway. I always find it creepy when people put up huge glamour shots of themselves all throughout the house.
 
dethman said:
HC models are around 1K/sq ft based on the other thread.  not that this home is exactly model worthy.
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For $1k/sf I'm buying in Corona Del Mar or Balboa.  I'd probably have to spend $500k to completely redo the house and why no pictures of the yard?  When would anyone take listing pictures of the house inside at night?  I don't get it.
 
Compressed-Village said:
They must have wanted to show off all of the advertised chandeliers, therefore the night shots. Cheesy to me.
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OMG, sooooo many chandeliers.  Beyond cheesy, guess it goes to show that having money doesn't translate to having taste.
 
nyc to oc said:
USCTrojanCPA said:
Wow, this one is just stupid and beyond a waste of time...
https://www.redfin.com/CA/Irvine/109-Tranquil-Hts-92618/home/113087430

$868/sf for Hidden Canyon?  Uhhhh no thanks, I'll go to Shady Canyon and Newport Coast for that kind of price tag.
Click to expand...

They have some interesting paint and decor choices. One would think that someone who can afford a house like that would hire a professional interior designer.
It goes to show how much of the "wow" factor from Hidden Canyon homes comes from the professional interior design and upgrades of the model homes.
Owners must be Asian-the cheesy blown up wedding glamour shots are a dead giveaway. I always find it creepy when people put up huge glamour shots of themselves all throughout the house.
Click to expand...

Interesting?quite a bit of carpet, which is unappealing to most in a house even at a third of this price point. The carpet up the dual staircase is hideous.  Also some of the finishes look expensive, but clash throughout the home. Some of the tile/stone in the bathrooms looks particularly loud to me. I wonder if this was done through the design center or after close? Paint is easy enough, but the other stuff would be prohibitively expensive to alter.  The design center steered these people wrong if they went through them...
 
USCTrojanCPA said:
Wow, this one is just stupid and beyond a waste of time...
https://www.redfin.com/CA/Irvine/109-Tranquil-Hts-92618/home/113087430

$868/sf for Hidden Canyon?  Uhhhh no thanks, I'll go to Shady Canyon and Newport Coast for that kind of price tag.
Click to expand...

Absurd asking price and decor may only appeal to another Chinese cash buyer aside, I am pretty sure they just moved in a few months ago. So TB doesn't care they just flip the house?
 
USCTrojanCPA said:
Wow, this one is just stupid and beyond a waste of time...
https://www.redfin.com/CA/Irvine/109-Tranquil-Hts-92618/home/113087430

$868/sf for Hidden Canyon?  Uhhhh no thanks, I'll go to Shady Canyon and Newport Coast for that kind of price tag.
Click to expand...

I am actually mortified by how ugly this listing is. The agent/owners really need to get this home entirely repainted and professionally re-staged if they plan on getting ANYTHING close to the list price. The finishes (kitchen, bathrooms, downstairs flooring) are actually pretty decent. The paint and furniture are ruining it for this listing. I mean... baby pink/blue?
 
Hah... you guys are too harsh.

From what I can guess, the owners are probably Middle Eastern or European which jives with that design style.

It's actually pretty nice compared to some of the no paint/no furniture listings I've seen.

Everyone has different tastes... but yes... the price is crazy (even if it were furnished/designed differently).
 
Redfin estimates are so lame.  I think redfin literally takes the listing price and makes a small modification to it and puts it out there as their estimated price.
You can tell from the extreme pricing of this house.  A better example was the house I posted a while back with a clear error in pricing.  It was accidentally listed for somewhere around 135K instead of 1.3M.  Redfins estimates on that house was in the ballpark of 150K. 
 
USCTrojanCPA said:
Compressed-Village said:
They must have wanted to show off all of the advertised chandeliers, therefore the night shots. Cheesy to me.
Click to expand...

OMG, sooooo many chandeliers.  Beyond cheesy, guess it goes to show that having money doesn't translate to having taste.
Click to expand...

I was thinking......... whoa all those chandeliers are going to collect a lot of dust and someone is going to have to get on a ladder and dust each of them. Good thing the owner will have oodles of cash to pay someone to do that.

 
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