Current Status of Irvine real estate value

Silver_fox

New member
It seems to me that home prices in irvine are stable or moving downwards? I dont see crazy list prices anymore, its just me or you people have noticed the same trend?
 
irvinehomeowner said:
New home pricing seems to still be moving up.

Agreed. La vita plan 4 now selling in $2mil and up range, I still remember when it was $1.7. They said that will be around the new pricing for those. Saviero plan 4 in $1.75mil range. Capella future phases will all clear $1.4mil

So at least OH seems to be moving up in some plans/ some builders and they keep moving up phases so people are buying at the higher prices.

Even resales I haven't seen much downward trend, maybe more plateau.
 
I wonder what our 2 resident realtors have to say on the matter.

USC? IrvineRealtor?

How is the Irvine resale market going?
 
Prices have stabilized. Overall still trending up, but you'll find certain resale homes that sold at bubbly prices in 2013 and other homes in the same tract and cheaper this year.

We seem to be in a weak seller's market still (as opposed to a buyer's market). Detached homes that are priced aggressively are going pending in under a week while overpriced homes are languishing on the market and experiencing multiple price reductions.
 
Irvine's new home sales are doing well  but outside of Irvine and outside of few hot markets, new home sales are not doing too well and builder offer incentives in order to move homes.  Maybe we will see builder offer  incentives in Irvine in the near future too.

Home-Builder Results Provide Muddled, Sober Outlook For 2015

The latest quarterly results of home builders Toll Brothers Inc. and Hovnanian Enterprises Inc. provide minimal optimism for the new-home market going into 2015, as consumers remain reticent and builders use more incentives to bolster sales.

Overall, Hovnanian called 2014 ?disappointing? for itself and the broader housing industry. Across the U.S., sales of newly built homes are up by only 1% in the first 10 months of this year from the same period last year.

?I don?t see any evidence of it gaining steam,? said Vicki Bryan, an analyst who covers home builders for bond-research firm Gimme Credit LLC. ?I think it continues to be soft. Coming in with soft (results) vs. last year?s weaker comparables is sobering.?

That?s where incentives have come into play. Several builders, including Hovnanian, have used them to a greater extent to boost sales in recent months. Toll says its incentives have remained constant for the past two years at roughly $20,000 in value, or about 2.5% of its average sales price. That makes a difference for many buyers these days.
 
lnc said:
Irvine's new home sales are doing well  but outside of Irvine and outside of few hot markets, new home sales are not doing too well and builder offer incentives in order to move homes.  Maybe we will see builder offer  incentives in Irvine in the near future too.

Home-Builder Results Provide Muddled, Sober Outlook For 2015

The latest quarterly results of home builders Toll Brothers Inc. and Hovnanian Enterprises Inc. provide minimal optimism for the new-home market going into 2015, as consumers remain reticent and builders use more incentives to bolster sales.

Overall, Hovnanian called 2014 ?disappointing? for itself and the broader housing industry. Across the U.S., sales of newly built homes are up by only 1% in the first 10 months of this year from the same period last year.

?I don?t see any evidence of it gaining steam,? said Vicki Bryan, an analyst who covers home builders for bond-research firm Gimme Credit LLC. ?I think it continues to be soft. Coming in with soft (results) vs. last year?s weaker comparables is sobering.?

That?s where incentives have come into play. Several builders, including Hovnanian, have used them to a greater extent to boost sales in recent months. Toll says its incentives have remained constant for the past two years at roughly $20,000 in value, or about 2.5% of its average sales price. That makes a difference for many buyers these days.

Well I don't know if the market will get any better for buyers.  I tried new home builders for year end savings - not much luck if you are particular on what you want.  I looked at resale, and  the newer listings seems to be moving up in price per sq.ft.  Isn't that abnormal for this time of the year?  That  means most likely we will see the traditional sudden jump per sq ft  again next spring.
 
IRVINE IS HOT BABY!

Buy to your heart's desire.  Government just okay'd 3% down.. what a bargain!  I'll take 5. 
 
Real estate market in Irvine is a healthy neutral market.  Homes that are priced well sell quickly and those that are overpriced linger on the market and collect dust.  The market has been digesting the gains from 2013 and prices have dipped 3-5% from the peak pricing (some areas/floor plans a bit more).  There are plenty of buyers out there but they are taking their time and not rushing because there is a lot more to pick from in terms of resale home inventory and new home inventory (besides seeing prices flat to slightly down). 
 
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