vsfan
Active member
Did builder provide points buy down? Some of them have 4% for the first few years.
Newer Irvine listings with crazy WTF asking prices from equity sellers
- Thread starter usctrojancpa
- Start date
NEW -> Contingent Buyer Assistance Program
$2m on an IO loan at 8.0% is about $13,300 each month.
If you close in September and have a November 1st payment, you might make that one, and a December payment before the next "bigger fool" closes on their deal - a $26-$28k risk cost.
I imagine they'll scrape the lot and building something new similar to the neighbor at 18731 Via Palatino. What's the total cost of construction in Irvine these days? $400/sqft? Put something there with 4,500 sqft and the buyer is in for about $5.5M. Tough to see a profit if the plan is to sell as a spec build. Should be a nice house to live in if that's the plan and money isn't an issue. Congrats to the buyer's agent, Ms. Chu.
No clue. My agent told me that. I don't have any idea how he found out.
GrowthStateofMind
Active member
Wondering if FCBs used TD Bank for their money laundering…
apnews.com
TD Bank to pay $3 billion in historic money-laundering settlement with the Justice Department
TD Bank will pay $3 billion in a settlement with U.S. authorities who say the financial institution’s lax practices allowed significant money laundering.
apnews.com
CalBears96
Well-known member
Cal Pac did for Azul (2/1 points buy down), but Shea did not do that for Cielo and neither did The New Home Company for Olivewood.
sgip
Well-known member
Yes, and no.
$2m on an IO loan at 8.0% is about $13,300 each month.
If you close in September and have a November 1st payment, you might make that one, and a December payment before the next "bigger fool" closes on their deal - a $26-$28k risk cost.
someguy
Well-known member
Pretty incredible. I can't find any pictures of the inside. It's a 1/3rd acre lot with a view towards the west in Turtle Rock walking distance from a top elementary and high school. That's approaching unicorn rarity.
I imagine they'll scrape the lot and building something new similar to the neighbor at 18731 Via Palatino. What's the total cost of construction in Irvine these days? $400/sqft? Put something there with 4,500 sqft and the buyer is in for about $5.5M. Tough to see a profit if the plan is to sell as a spec build. Should be a nice house to live in if that's the plan and money isn't an issue. Congrats to the buyer's agent, Ms. Chu.
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Not Irvine but wow, this Port Street house sold for $4.25M ($550k over asking) - $2480/sq ft. Agent represented both buyer and seller
Single level, level lot, big yard - that’s as prime as Port Streets get. Very few single levels left there
Turtle Rock sale in less than 4 weeks for $3.355M ($250k over asking) which is $1490/sq ft
It previously sold for $2.48M in March 2023 after being remodeled.
Before that, it sold for $1.3M in June 2020.
It previously sold for $2.48M in March 2023 after being remodeled.
Before that, it sold for $1.3M in June 2020.
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irvinehomeowner
Well-known member
Turtles do what turtles do.
sleepy5136
Well-known member
I wonder if these homes in Irvine will continue to sell for the price they do when it comes to a point where insurance will not be covered by private companies and are relying on fair plan.
GrowthStateofMind
Active member
More Shady Canyon premium stuff here… just shy of $8 mil:
They did their 3-car garage storage pretty well I must say.
They did their 3-car garage storage pretty well I must say.
Imnotmoving
Member
I believe ca fair plan for fire coverage caps at 3 million.
sleepy5136
Well-known member
It can cap at 10m or 100m. Question is will there be sufficient funds to cover?
marmott
Active member
Currently the cap is 3 million for residential and it's already running out of money. https://www.cbsnews.com/sacramento/...secrets-what-insurer-doesnt-want-you-to-know/
Commercial is 20 million.
Commercial is 20 million.
sleepy5136
Well-known member
yea so it goes back to my point. what will Irvine pricing be in the near future if a significant amount of homes are considered a high fire hazard? will prices not grow as much? Or will it be down? Something to think about when buying in Irvine. Maybe it won’t matter because most of the owners in Irvine are FCB.
qwerty
Well-known member
Irvine prices won’t be impacted. Sellers will just start including these free of charge to buyers. Problem solved.
www.fireguard.us
HouseWrap - FireGuard
www.fireguard.us