Author Topic: Irvine listings STILL going pending amid COVID-19  (Read 3995 times)

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Offline Dr. CA Real Estate

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Re: Irvine listings STILL going pending amid COVID-19
« Reply #60 on: March 26, 2020, 05:25:54 PM »
Is this rarity of 3 car garages in Irvine a meme? There’s over 100 available on market
Kris Mendoza
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Offline Mety

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Re: Irvine listings STILL going pending amid COVID-19
« Reply #61 on: March 26, 2020, 05:53:29 PM »
Is this rarity of 3 car garages in Irvine a meme? There’s over 100 available on market

I think they're rear among new ones. Homes from 70s-90s have some though.

Offline irvinehomeowner

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Re: Irvine listings STILL going pending amid COVID-19
« Reply #62 on: March 26, 2020, 06:15:22 PM »
Is this rarity of 3 car garages in Irvine a meme? There’s over 100 available on market

3-car *wide* garages?
Once you go 3-car garage... your junk can never go back.
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Offline marmott

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Re: Irvine listings STILL going pending amid COVID-19
« Reply #63 on: March 26, 2020, 08:36:51 PM »
In addition of the 3CWG this house has a long driveway, a nice bonus.

Offline mhanism

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Re: Irvine listings STILL going pending amid COVID-19
« Reply #64 on: March 26, 2020, 08:38:19 PM »
Thank you! It's a KB Home, built in 2018. We put a lot into it ourselves - hardwood floors + rounded baseboards, paint, hardware, etc.

Reason for move is to get back to where we're from and be closer to family and friends down there. Also mood down in So Cal and OC is very different than what the Bay has become the past few years, that is much more balanced between work and personal life. The Bay has become all about the grind, which is fine, but gets tiresome after a while. Plus you can't beat So. Cal weather + beaches. 

Offline aquabliss

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Re: Irvine listings STILL going pending amid COVID-19
« Reply #65 on: March 27, 2020, 12:07:52 AM »
mhanism, May I ask where you purchased the sectional in your great room? 

Is it Crate & Barrel Axis II?  I really like it, and I’m in the market for a new sectional.  Thanks!

Offline mhanism

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Re: Irvine listings STILL going pending amid COVID-19
« Reply #66 on: March 27, 2020, 08:20:34 AM »
Yes! It's the Axis II in the stock color. It's actually our 2nd Axis sectional. Make sure to take advantage of CB's upholstery sale to get discounts.

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Offline Irvinehomeseeker

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Re: Irvine listings STILL going pending amid COVID-19
« Reply #67 on: March 27, 2020, 12:32:21 PM »
How are the landlords handling the situations when looking for new tenant?

My tenant is not renewing lease because his job has been impacted with this crisis and he is going to move out of state. He has given me 30 days notice. The Realtor tells me that they cannot show homes to potential tenants until the current one moves out. Even with vacant property, I am told that the showings will be limited and advised to price aggressively. Alternatively, I have to plan to have the property stay vacant during these times. I am okay to lower my rent but if I can't find tenant for next 4-5 months it's gonna get difficult.

How are others handling this? We have mortgage payments to make on the rental, RE taxes, HOA etc and if market continues to be this way for next 4-5 months, will mortgage servicers give us the option to postpone payments since we don't have a tenant?

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Offline zubs

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Re: Irvine listings STILL going pending amid COVID-19
« Reply #68 on: March 27, 2020, 01:13:11 PM »
https://finance.yahoo.com/news/california-gov-newsom-says-4-211840094.html
Banks agree to "suspend" mortgages.

Does this news mean that you can stop paying mortgages for a few months, and those months will be tacked to the back end of your mortgage?  I think your bank will work with you, but it'll vary case by case.


Imagine all the work the bank will need to do to implement this??...they will need to hire more people.

Offline marmott

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Re: Irvine listings STILL going pending amid COVID-19
« Reply #69 on: March 27, 2020, 01:37:02 PM »
I just got an advertisement email from Zillow Rental this morning promoting their virtual tour app (https://www.zillow.com/marketing/3d-home/).

To be honest I'm hoping my tenant stay put for the time being and is able to pay the rent, not really prepared for much more than this.

Offline irvinehomeowner

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Re: Irvine listings STILL going pending amid COVID-19
« Reply #70 on: March 27, 2020, 01:41:28 PM »
@
How are the landlords handling the situations when looking for new tenant?

My tenant is not renewing lease because his job has been impacted with this crisis and he is going to move out of state. He has given me 30 days notice. The Realtor tells me that they cannot show homes to potential tenants until the current one moves out. Even with vacant property, I am told that the showings will be limited and advised to price aggressively. Alternatively, I have to plan to have the property stay vacant during these times. I am okay to lower my rent but if I can't find tenant for next 4-5 months it's gonna get difficult.

How are others handling this? We have mortgage payments to make on the rental, RE taxes, HOA etc and if market continues to be this way for next 4-5 months, will mortgage servicers give us the option to postpone payments since we don't have a tenant?

Thanks for bringing this type of scenario up.

Many business transactions are at risk which is why we need to think of a way to be able to do things and keep people safe at the same time.
Once you go 3-car garage... your junk can never go back.
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Offline Irvinehomeseeker

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Re: Irvine listings STILL going pending amid COVID-19
« Reply #71 on: March 27, 2020, 01:42:53 PM »
 Things can change rapidly. My tenant was fine to renew lease 2 months ago when I had checked but just in the last 3 weeks, things have changed on his end...so I am now about to look for a new tenant.

Offline USCTrojanCPA

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Re: Irvine listings STILL going pending amid COVID-19
« Reply #72 on: March 27, 2020, 01:48:59 PM »
How are the landlords handling the situations when looking for new tenant?

My tenant is not renewing lease because his job has been impacted with this crisis and he is going to move out of state. He has given me 30 days notice. The Realtor tells me that they cannot show homes to potential tenants until the current one moves out. Even with vacant property, I am told that the showings will be limited and advised to price aggressively. Alternatively, I have to plan to have the property stay vacant during these times. I am okay to lower my rent but if I can't find tenant for next 4-5 months it's gonna get difficult.

How are others handling this? We have mortgage payments to make on the rental, RE taxes, HOA etc and if market continues to be this way for next 4-5 months, will mortgage servicers give us the option to postpone payments since we don't have a tenant?

I've leased out 2 rentals in the past few weeks for clients.  You'll just need to price your rental competitively.  I've done FaceTime walk through tours with a few perspective tenants who were concerned about social distancing. I do have another rental listing coming up in Foothill Ranch in a few weeks and maybe one of my sale listings will become a rental.
« Last Edit: March 27, 2020, 02:14:47 PM by USCTrojanCPA »
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Offline irvinehomeowner

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Re: Irvine listings STILL going pending amid COVID-19
« Reply #73 on: March 27, 2020, 01:57:29 PM »
USC's solution is pretty good, FaceTime tour prospective tenants through the property.
Once you go 3-car garage... your junk can never go back.
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I recommend:
www.irvinerealtorsite.com
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Offline OCtoSV

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Re: Irvine listings STILL going pending amid COVID-19
« Reply #74 on: March 27, 2020, 02:02:07 PM »
Thank you! It's a KB Home, built in 2018. We put a lot into it ourselves - hardwood floors + rounded baseboards, paint, hardware, etc.

Reason for move is to get back to where we're from and be closer to family and friends down there. Also mood down in So Cal and OC is very different than what the Bay has become the past few years, that is much more balanced between work and personal life. The Bay has become all about the grind, which is fine, but gets tiresome after a while. Plus you can't beat So. Cal weather + beaches.
We live in Almaden Valley, and constantly toy with the idea of moving back, but for me would be career suicide in terms of taking me out of the highest paying job market in the country and away from the exec leadership team. No such issues for you?

What HS is your districted into?

 

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