Newer Irvine listings with crazy WTF asking prices from equity sellers

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best_potsticker_in_town said:
best_potsticker_in_town said:
USCTrojanCPA said:
Over $930/sf and backing up to the Toll Road in this market?  Uhhh, I don't think so.
https://www.redfin.com/CA/Irvine/53-Royal-Pne-92602/home/112723819

Plus that tile flooring downstairs doesn't look good at all.

2 weeks later and looks like a $170k price drop today down to $2.68M.
https://www.redfin.com/CA/Irvine/53-Royal-Pne-92602/home/112723819

Dropped to $2.5m on Aug 5 and then back up to $2.68m 10 days later.
https://www.redfin.com/CA/Irvine/112-Meander-92620/home/112724295

Price increased from $2m to $2.2m after sitting on market for nearly 2 months.

Interesting strategy on these...

They are using the "buy now or be priced out forever" strategy.  haha
 
91 Rockinghorse was on the market recently for $2.5M and it didn't sell. Same floor plan but a much bigger yard. No change 65 Rockinghorse is going to get anywhere near what they're asking. I'm guessing $2.3-2.4m range is more realistic.
 
Danimal said:
This home dropped from 3.2 to 2.6.

Not gonna sell more than 2.3. Owner is too greedy.

https://redf.in/2i3TGI

Yard is nice but the interior upgrades are either a bit dated or not all that great plus being on the corner of Keystone and Trabuco isn't going to help.  They listed the home 4-5 months too late and will not chase the market down to around $2m.
 
best_potsticker_in_town said:
best_potsticker_in_town said:
USCTrojanCPA said:
Over $930/sf and backing up to the Toll Road in this market?  Uhhh, I don't think so.
https://www.redfin.com/CA/Irvine/53-Royal-Pne-92602/home/112723819

Plus that tile flooring downstairs doesn't look good at all.

2 weeks later and looks like a $170k price drop today down to $2.68M.
https://www.redfin.com/CA/Irvine/53-Royal-Pne-92602/home/112723819

Dropped to $2.5m on Aug 5 and then back up to $2.68m 10 days later.
https://www.redfin.com/CA/Irvine/112-Meander-92620/home/112724295

Price increased from $2m to $2.2m after sitting on market for nearly 2 months.

Interesting strategy on these...

The Meander home is now pending sale after the price increase... did someone take it seriously "buy now or miss out forever"? :)
 
probably some Chinese FCB only buy a house based on price, the higher the better, not so much about comps or fair value.

Irvinehomeseeker said:
best_potsticker_in_town said:
best_potsticker_in_town said:
USCTrojanCPA said:
Over $930/sf and backing up to the Toll Road in this market?  Uhhh, I don't think so.
https://www.redfin.com/CA/Irvine/53-Royal-Pne-92602/home/112723819

Plus that tile flooring downstairs doesn't look good at all.

2 weeks later and looks like a $170k price drop today down to $2.68M.
https://www.redfin.com/CA/Irvine/53-Royal-Pne-92602/home/112723819

Dropped to $2.5m on Aug 5 and then back up to $2.68m 10 days later.
https://www.redfin.com/CA/Irvine/112-Meander-92620/home/112724295

Price increased from $2m to $2.2m after sitting on market for nearly 2 months.

Interesting strategy on these...

The Meander home is now pending sale after the price increase... did someone take it seriously "buy now or miss out forever"? :)
 
USCTrojanCPA said:
Danimal said:
This home dropped from 3.2 to 2.6.

Not gonna sell more than 2.3. Owner is too greedy.

https://redf.in/2i3TGI

Yard is nice but the interior upgrades are either a bit dated or not all that great plus being on the corner of Keystone and Trabuco isn't going to help.  They listed the home 4-5 months too late and will not chase the market down to around $2m.

So from $3.2 down to $2M = 37.5% drop in price. Is that how far Irvine prices in that segment have fallen for non-premium properties in the last 6 months? That's not "gliding lower". That's falling off a cliff.
 
wow gasping for straws?one foolish and greedy owner priced the house 37% higher than peak pricing, or shall I say crazy WFT asking price, does not mean crash?

OCtoSV said:
USCTrojanCPA said:
Danimal said:
This home dropped from 3.2 to 2.6.

Not gonna sell more than 2.3. Owner is too greedy.

https://redf.in/2i3TGI

Yard is nice but the interior upgrades are either a bit dated or not all that great plus being on the corner of Keystone and Trabuco isn't going to help.  They listed the home 4-5 months too late and will not chase the market down to around $2m.

So from $3.2 down to $2M = 37.5% drop in price. Is that how far Irvine prices in that segment have fallen for non-premium properties in the last 6 months? That's not "gliding lower". That's falling off a cliff.
 
OCtoSV said:
USCTrojanCPA said:
Danimal said:
This home dropped from 3.2 to 2.6.

Not gonna sell more than 2.3. Owner is too greedy.

https://redf.in/2i3TGI

Yard is nice but the interior upgrades are either a bit dated or not all that great plus being on the corner of Keystone and Trabuco isn't going to help.  They listed the home 4-5 months too late and will not chase the market down to around $2m.

So from $3.2 down to $2M = 37.5% drop in price. Is that how far Irvine prices in that segment have fallen for non-premium properties in the last 6 months? That's not "gliding lower". That's falling off a cliff.

Well it doesn't really count when the seller priced the home too high to begin with. That's like saying a 1k sq ft condo priced at 1.5 dropping to 850 is indicative of home prices falling drastically, when it's really due to overpricing from the beginning.
 
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