These dreams go on when I close my eyes
Every second of the night, I live another life
These dreams that sleep when it’s cold outside
Every moment I’m awake, the further I’m away
These Dreams — Heart
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Everyone has dreams. We would all like to have unlimited money with no effort on our part — kind of like buying a home was supposed to be during the bubble…
Today’s property is clearly dreaming about the next rally where someone will be foolish enough to pay this WTF price. Of course, the market is moving the other direction, and every moment they are awake, their dream gets farther away.
Asking Price: $1,119,500
Purchase Price: $405,000
Purchase Date: 7/18/1996
Address: 4 Holly, Irvine, CA 92612
Beds: 4
Baths: 2.5
Sq. Ft.: 2,850
$/Sq. Ft.: $393
Lot Size: 4,876 sq. ft.
Year Built: 1974
Stories: 2
Type: Single Family Residence
View: Pool
County: Orange
Neighborhood: University Park
MLS#: P575451
Status: Active
On Redfin: 110 days
Unsold in 90+ days
It seems that this listing has recently changed to ‘Hold Do Not Show’ status. Here is the description from Redfin while it was up, “Beautifully upgraded Parkside home with pool and spa. Home has numerous upgrades including 18inch tile flooring, duel drawer dishwasher, granite countertops, custom cabinets in office, new stairway, new chandeliers, pool redone, new window to capture view of pool. Also, a built-in entertainment center, wet bar, french doors, lifetime warranted cement tile roof, surround sound, putting green, new mantel, new AC, furnace, ducts, & 2hot water heaters. And a master bath ‘to die for'”
Sometimes a realtors colloquial manner comes off more uncouth than cultured — And a master bath ‘to die for’
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This is the only property for sale in University Park for over $1,000,000. This home is large, and they are asking a high dollars per square foot price. In short, this price is ridiculous (and I am happy to ridicule it.)
Do you get the feeling some of these prices are set because people just really like their homes? These people obviously have no real desire to sell their home, or they would have priced it somewhere in the realm of sanity. It probably is worth over a million dollars — to them. The problem is that nobody else is going to agree.
Just in case you don’t think this price is too high, let’s see what you can get of similar size in University Park.
Price: $819,000
18 FOXGLOVE WAY
Irvine, CA 92612
Beds: 4
Baths: 2.5
Sq. Ft.: 2,682
$/Sq. Ft.: $305
Lot Size: 3,200 sq. ft.
Year Built: 1967
Stories: 2
Type: Condominium
County: Orange
Neighborhood: University Park
MLS#: U7002268
Status: Active
On Redfin: 83 days
Largest University Park Townhome: 2682 sq. ft. , 4 bedrooms and 2.5 baths. Pristine condition. Located on cul-de-sac. Vaulted ceiling. Light, bright, open floor plan. Walking distance to schools and stores.
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This property is almost as large, it is updated inside, and it is $300,000 less expensive. Hmmm…
Price: $719,900
30 OAK TREE LN
Irvine, CA 92612
Beds: 4
Baths: 2.5
Sq. Ft.: 2,700
$/Sq. Ft.: $267
Lot Size: 3,000 sq. ft.
Year Built: 1969
Stories: 2
Type: Single Family Residence
View: Park or Green Belt
County: Orange
Neighborhood: University Park
MLS#: S495329
Status: Active
On Redfin: 48 days
Great price for so much square footage. Seller is only the 2nd person to live here. Property needs updating, so bring your client who wants to make the changes for themselves and not live in somebody elses remodeling. Ceilings have recently been scraped, freshly painted and new carpeting installed. All termite work has been completed. Quiet location in University Park, backs to greenbelt, excellant association facilities and Uni High School.
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This property is almost as large, and it is $400,000 less expensive. It needs remodeling, but for $400,000, I bet you could do a fantastic job.
My conclusion: the price of 4 Holly is laughably silly. Therefore, we honor these sellers with our WTF Award!