ipoplaya_IHB
New member
<a href="http://www.ipoplaya.com">Another weekend, another 18 new escrows...</a> It's amazing that 5-6 properties per day can continue to go under contract. Days on the market are getting woefully short.
A new escrow thread for a new housing market...
- Thread starter ipoplaya_IHB
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cherry14_IHB
New member
[quote author="ipoplaya" date=1243948169]<a href="http://www.ipoplaya.com">Another weekend, another 18 new escrows...</a> It's amazing that 5-6 properties per day can continue to go under contract. Days on the market are getting woefully short.</blockquote>
I wonder if this will cause an increase in inventory? Maybe potential sellers will see that homes are selling fast, so they might decide to list theirs too?
I wonder if this will cause an increase in inventory? Maybe potential sellers will see that homes are selling fast, so they might decide to list theirs too?
ipoplaya_IHB
New member
[quote author="cherry14" date=1243949705][quote author="ipoplaya" date=1243948169]<a href="http://www.ipoplaya.com">Another weekend, another 18 new escrows...</a> It's amazing that 5-6 properties per day can continue to go under contract. Days on the market are getting woefully short.</blockquote>
I wonder if this will cause an increase in inventory? Maybe potential sellers will see that homes are selling fast, so they might decide to list theirs too?</blockquote>
It hasn't yet. Hopefully it will. <a href="http://www.irvinehousingblog.com/inventory/irvine.php">The inventory graph on the main blog</a> only goes back 2.5 years and we are at an all-time low on that. This is probably the least amount of available inventory Irvine has seen in at least 5-6 years if not much longer...
I wonder if this will cause an increase in inventory? Maybe potential sellers will see that homes are selling fast, so they might decide to list theirs too?</blockquote>
It hasn't yet. Hopefully it will. <a href="http://www.irvinehousingblog.com/inventory/irvine.php">The inventory graph on the main blog</a> only goes back 2.5 years and we are at an all-time low on that. This is probably the least amount of available inventory Irvine has seen in at least 5-6 years if not much longer...
CapitalismWorks_IHB
New member
What ever happened to 10 Magnet?
no_vaseline_IHB
New member
[quote author="CapitalismWorks" date=1243982170]What ever happened to 10 Magnet?</blockquote>
Deuce and I think we saw him about two weeks ago at Benjies in Santa Ana.
Mid/late 40's.
True religion jeans.
Drove up in a late model Bentley.
It all started when we were talking about that picture of Deuce that somebody 'shopped into the windshield of a Bentley. I look over and say "hey, they are bringing your car up". Deuce was like "huh" and then sheepishly admitted he had no idea what a Bentley looked like - he claimed he'd never seen one in real life.
Where is that picture of Deuce anyway?
Deuce and I think we saw him about two weeks ago at Benjies in Santa Ana.
Mid/late 40's.
True religion jeans.
Drove up in a late model Bentley.
It all started when we were talking about that picture of Deuce that somebody 'shopped into the windshield of a Bentley. I look over and say "hey, they are bringing your car up". Deuce was like "huh" and then sheepishly admitted he had no idea what a Bentley looked like - he claimed he'd never seen one in real life.
Where is that picture of Deuce anyway?
SoCal78_IHB
New member
[quote author="no_vaseline" date=1243983487]
Deuce and I think we saw him about two weeks ago at Benjies in Santa Ana.
Mid/late 40's.
True religion jeans.
Drove up in a late model Bentley.
It all started when we were talking about that picture of Deuce that somebody 'shopped into the windshield of a Bentley. I look over and say "hey, they are bringing your car up". Deuce was like "huh" and then sheepishly admitted he had no idea what a Bentley looked like - he claimed he'd never seen one in real life.
Where is that picture of Deuce anyway?</blockquote>
<a href="http://www.irvinehousingblog.com/forums/viewthread/3815/#84063">It's right here.</a>
I think it's time Deuce gets a new car. Suggestions? :cheese:
Deuce and I think we saw him about two weeks ago at Benjies in Santa Ana.
Mid/late 40's.
True religion jeans.
Drove up in a late model Bentley.
It all started when we were talking about that picture of Deuce that somebody 'shopped into the windshield of a Bentley. I look over and say "hey, they are bringing your car up". Deuce was like "huh" and then sheepishly admitted he had no idea what a Bentley looked like - he claimed he'd never seen one in real life.
Where is that picture of Deuce anyway?</blockquote>
<a href="http://www.irvinehousingblog.com/forums/viewthread/3815/#84063">It's right here.</a>
I think it's time Deuce gets a new car. Suggestions? :cheese:
no_vaseline_IHB
New member
Aw man, that's not a Bentley that's a Rolls Royce!
He needs one of these:
<a href="http://www.zcars.com.au/images/bentley-continental-flying-spur12.jpg">http://www.zcars.com.au/images/bentley-continental-flying-spur12.jpg</a>
He needs one of these:
<a href="http://www.zcars.com.au/images/bentley-continental-flying-spur12.jpg">http://www.zcars.com.au/images/bentley-continental-flying-spur12.jpg</a>
ipoplaya_IHB
New member
Just added <a href="http://www.ipoplaya.com/">16 new escrows </a>from the past 3 days...
ipoplaya_IHB
New member
24 new escrows just added from the past four days. 10 of those came through within the last day...
If I see the closing price that property Joon, I will post it.
If I see the closing price that property Joon, I will post it.
xoneinax_IHB
New member
Who is buying these Irvine listings ? Chinese investors with lots of cash ?
ipoplaya_IHB
New member
Man, just had six more new escrow entrants pop through... Sheez.
usctrojanman29_IHB
New member
[quote author="ipoplaya" date=1244697418]Man, just had six more new escrow entrants pop through... Sheez.</blockquote>
I hope they were able to lock their rates in the last week because rates are up another .25% since Monday.
I hope they were able to lock their rates in the last week because rates are up another .25% since Monday.
IACRenter_IHB
New member
[quote author="usctrojanman29" date=1244699820][quote author="ipoplaya" date=1244697418]Man, just had six more new escrow entrants pop through... Sheez.</blockquote>
I hope they were able to lock their rates in the last week because rates are up another .25% since Monday.</blockquote>
Happy times! Higher rates should help quash any Summer bounce. Then we can all wait for the Fall/Winter REO's to start showing and prices to start falling more.
I hope they were able to lock their rates in the last week because rates are up another .25% since Monday.</blockquote>
Happy times! Higher rates should help quash any Summer bounce. Then we can all wait for the Fall/Winter REO's to start showing and prices to start falling more.
ipoplaya_IHB
New member
Oy, <a href="http://www.redfin.com/CA/Irvine/12-Inglenook-92602/home/7213168">here's a new listing</a> that might have trouble making it to escrow... I smell a blog profile coming on.
no_vaseline_IHB
New member
I think the escrow-dropouts of the next 45-60 days will be a real bell weather to the credit and capital strength of these Irvine homebuyers. I have not participated in thie thread much, but I will be watching it like a hawk TFN.
Irvine_Lurker_IHB
New member
[quote author="ipoplaya" date=1244757438]Oy, <a href="http://www.redfin.com/CA/Irvine/12-Inglenook-92602/home/7213168">here's a new listing</a> that might have trouble making it to escrow... I smell a blog profile coming on.</blockquote>
This is in the Camelia sub-division I believe. While most of NP Square was built out by 2002 these homes were sold at more or less the peak of the bubble (approx. 2005/2006). This WTF prices does not really suprise me as I suspect many in this tract are probably still in denial. This will be an interesting area to watch in the next couple of years.
This is in the Camelia sub-division I believe. While most of NP Square was built out by 2002 these homes were sold at more or less the peak of the bubble (approx. 2005/2006). This WTF prices does not really suprise me as I suspect many in this tract are probably still in denial. This will be an interesting area to watch in the next couple of years.
ipoplaya_IHB
New member
[quote author="Irvine_Lurker" date=1244761760][quote author="ipoplaya" date=1244757438]Oy, <a href="http://www.redfin.com/CA/Irvine/12-Inglenook-92602/home/7213168">here's a new listing</a> that might have trouble making it to escrow... I smell a blog profile coming on.</blockquote>
This is in the Camelia sub-division I believe. While most of NP Square was built out by 2002 these homes were sold at more or less the peak of the bubble (approx. 2005/2006). This WTF prices does not really suprise me as I suspect many in this tract are probably still in denial. This will be an interesting area to watch in the next couple of years.</blockquote>
Even if they could find a crazed fool willing to pay that much, probably $300-350K over current market, no one would ever lender against it as it would be massively over comps. They would need a buyer willing to plunk down at least $500K at the price...
This is in the Camelia sub-division I believe. While most of NP Square was built out by 2002 these homes were sold at more or less the peak of the bubble (approx. 2005/2006). This WTF prices does not really suprise me as I suspect many in this tract are probably still in denial. This will be an interesting area to watch in the next couple of years.</blockquote>
Even if they could find a crazed fool willing to pay that much, probably $300-350K over current market, no one would ever lender against it as it would be massively over comps. They would need a buyer willing to plunk down at least $500K at the price...
IACRenter_IHB
New member
[quote author="Irvine_Lurker" date=1244761760][quote author="ipoplaya" date=1244757438]Oy, <a href="http://www.redfin.com/CA/Irvine/12-Inglenook-92602/home/7213168">here's a new listing</a> that might have trouble making it to escrow... I smell a blog profile coming on.</blockquote>
This is in the Camelia sub-division I believe. While most of NP Square was built out by 2002 these homes were sold at more or less the peak of the bubble (approx. 2005/2006). This WTF prices does not really suprise me as I suspect many in this tract are probably still in denial. This will be an interesting area to watch in the next couple of years.</blockquote>
Actually this is the <a href="http://www.garyfallis.com/img/floorplans/npsfp/campanile.htm">Campanile tract within NorthPark Square</a>. All built recently around 2006 during the bubble. I actually like these homes but the prices were way too high. I suspect there was some toxic financing going on to purchase here and now the recent home buyers are looking for a way out.
This 12 Inglenook home is a <a href="http://www.garyfallis.com/img/floorplans/npsfp/campanile_p3.jpg">Plan 3 Campanile</a>. I was seriously considering purchasing the same floor plan at 2 Longvale last December. It ended up closing on 1/27/09 per IPOP's website for $830K (whoever bought it paid 20K more than the seller offered me).
There is also another WTF seller down the street (must be contagious)...look at <a href="http://www.redfin.com/CA/Irvine/24-Spyrock-92602/home/7203055">24 Spyrock</a>. Their walls must be covered in gold.
I will wait for the neighborhood to implode before deciding to buy there again.
This is in the Camelia sub-division I believe. While most of NP Square was built out by 2002 these homes were sold at more or less the peak of the bubble (approx. 2005/2006). This WTF prices does not really suprise me as I suspect many in this tract are probably still in denial. This will be an interesting area to watch in the next couple of years.</blockquote>
Actually this is the <a href="http://www.garyfallis.com/img/floorplans/npsfp/campanile.htm">Campanile tract within NorthPark Square</a>. All built recently around 2006 during the bubble. I actually like these homes but the prices were way too high. I suspect there was some toxic financing going on to purchase here and now the recent home buyers are looking for a way out.
This 12 Inglenook home is a <a href="http://www.garyfallis.com/img/floorplans/npsfp/campanile_p3.jpg">Plan 3 Campanile</a>. I was seriously considering purchasing the same floor plan at 2 Longvale last December. It ended up closing on 1/27/09 per IPOP's website for $830K (whoever bought it paid 20K more than the seller offered me).
There is also another WTF seller down the street (must be contagious)...look at <a href="http://www.redfin.com/CA/Irvine/24-Spyrock-92602/home/7203055">24 Spyrock</a>. Their walls must be covered in gold.
I will wait for the neighborhood to implode before deciding to buy there again.
usctrojanman29_IHB
New member
[quote author="ipoplaya" date=1244757438]Oy, <a href="http://www.redfin.com/CA/Irvine/12-Inglenook-92602/home/7213168">here's a new listing</a> that might have trouble making it to escrow... I smell a blog profile coming on.</blockquote>
List price = purchase price + anticipated closing costs (including commissions). The guy should just mail in the keys because this property is worth about $800k-$850k in this crazy market.
List price = purchase price + anticipated closing costs (including commissions). The guy should just mail in the keys because this property is worth about $800k-$850k in this crazy market.