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1
Irvine Real Estate / Re: Where the market is - Buyer Offers
« Last post by akula1488 on Today at 12:36:18 PM »
Made offers and submitted best & final counters on these 2 homes for 2 buyers...

https://www.redfin.com/CA/Irvine/15-Alba-W-92620/home/4785616

https://www.redfin.com/CA/Irvine/102-Catalonia-92618/home/58551980

My 15 Alba buyer didn't get it despite going up to $1,241,000 using an escalation clause.

Is an escalation clause something like we will match or beat by x the best offer up to y amt?

Initial offer X, will beat the other best bona fide offer by Y amount up to Z. Usually ask seller to show proof of the bona fide offer.
However, unethical sellers or agents can easily create these bona fide offers to force escalation to maximum. So might as well as offer maximum without escalation clause.

Unless you want to do a escalation clause with all cash and without cap, waive all contingencies. Then you are very likely to win.
2
Economy & Finance / Re: INFLATION IS OUR FRIEND
« Last post by nosuchreality on Today at 11:40:20 AM »
This is good...right?

'Biden's inflation crisis is here': Inflation jumps to 5% through April in the quickest rise since the Great Recession as Republicans blame soaring prices on massive Democrat stimulus programs
Overall consumer prices rose 0.6% in May, totaling 5% over the prior 12 months
It is the fastest rise in inflation since August 2008 during the Great Recession
Core inflation, excluding food and energy, was up 3.8% in fastest increase since 1992
Republicans blame freewheeling Fed monetary policy and Democrats' massive federal spending

https://www.dailymail.co.uk/news/article-9672595/Inflation-jumps-5-April-quickest-rise-2008.html

I doubt one person here remembers the days of inflation. I must be older than most everyone and I was young enough (parents bought food, lived at home to go to college etc) to only know the tail end when I couldn't buy a house cuz prices had gone up so much and interest rates ended up being sky high to fight it.

I know it's going to hurt the lower income people the worst by far and no amount of hey ma, look at min. wage is going to help.



I'm same age-ish, I remember talking to my credit union about a used car loan when I was working through college, the rate for a 2 year loan would have been 18%.  I remember my short term CDs 3 month and 6 month were paying double digits.

I remember the family dinner talk during the Oil Embargo, concerns Dad's union would strike, and the rising price talk leading up to Reagan's election
3
Irvine Real Estate / Re: Where the market is - Buyer Offers
« Last post by Ready2Downsize on Today at 10:47:10 AM »
Put offers on these two homes this week...

This was for my myself, I put in an offer of $2,205,000 and I was the highest offer until they got a last minute offer at $2,230,000 came in 2 hours before the offer deadline and I'm the first back-up buyer.  Home was being sold "as-is" with no repairs and no termite repairs.  I was going back and forth on whether to offer $2,250,000 or not but the home needs a full gut remodel so I opted for $2,205,000 instead.  The search continues for me.

https://www.redfin.com/CA/Irvine/5722-Kingsford-Ter-92603/home/4741419

For one of my clients, I put a full priced offer on this Eastwood detached condo and we signed the seller counter today so we'll be opening escrow on Monday.

https://www.redfin.com/CA/Irvine/52-Gust-92602/home/143912144

Man that's tough w/bid coming in 2 hours before offer deadline. reminds me of my many failed ebay bidding attempts but those were for small camera parts purchases, not $2M plus homes!

Are FCB in the equation here? I mean in general, not just for this home.
4
Economy & Finance / Re: INFLATION IS OUR FRIEND
« Last post by Ready2Downsize on Today at 10:45:26 AM »
This is good...right?

'Biden's inflation crisis is here': Inflation jumps to 5% through April in the quickest rise since the Great Recession as Republicans blame soaring prices on massive Democrat stimulus programs
Overall consumer prices rose 0.6% in May, totaling 5% over the prior 12 months
It is the fastest rise in inflation since August 2008 during the Great Recession
Core inflation, excluding food and energy, was up 3.8% in fastest increase since 1992
Republicans blame freewheeling Fed monetary policy and Democrats' massive federal spending

https://www.dailymail.co.uk/news/article-9672595/Inflation-jumps-5-April-quickest-rise-2008.html

I doubt one person here remembers the days of inflation. I must be older than most everyone and I was young enough (parents bought food, lived at home to go to college etc) to only know the tail end when I couldn't buy a house cuz prices had gone up so much and interest rates ended up being sky high to fight it.

I know it's going to hurt the lower income people the worst by far and no amount of hey ma, look at min. wage is going to help.

5
Health & Fitness / Re: coronavirus
« Last post by lnc on Today at 10:38:47 AM »
"Lockdown" states like California did better economically than "looser" states like Florida, new COVID data shows

https://news.yahoo.com/lockdown-states-like-california-did-better-economically-than-looser-states-like-florida-new-covid-data-shows-153025163.html
6
Irvine Real Estate / Re: Where the market is - Buyer Offers
« Last post by Ready2Downsize on Today at 10:32:24 AM »
Made offers and submitted best & final counters on these 2 homes for 2 buyers...

https://www.redfin.com/CA/Irvine/15-Alba-W-92620/home/4785616

https://www.redfin.com/CA/Irvine/102-Catalonia-92618/home/58551980

My 15 Alba buyer didn't get it despite going up to $1,241,000 using an escalation clause.

Is an escalation clause something like we will match or beat by x the best offer up to y amt?
7
Irvine Real Estate / Re: Where the market is - Buyer Offers
« Last post by USCTrojanCPA on Yesterday at 10:18:20 PM »
Made offers and submitted best & final counters on these 2 homes for 2 buyers...

https://www.redfin.com/CA/Irvine/15-Alba-W-92620/home/4785616

https://www.redfin.com/CA/Irvine/102-Catalonia-92618/home/58551980

My 15 Alba buyer didn't get it despite going up to $1,241,000 using an escalation clause. 
8
Irvine Real Estate / Re: How does everyone think of Greatpark?
« Last post by IHS3000 on Yesterday at 09:20:16 PM »
Interview of Fivepoint CEO Emile Haddad

May 17, 2021

https://www.ocbj.com/news/2021/may/17/emile-haddad-building-american-dream/

“…The company is also looking to increase the share of affordable housing options at Great Park Neighborhoods, with apartments being eyed as part of the developer’s FivePoint X, a 58-acre addition to the community that’s expected to bring some 425,000 square feet of mixed-commercial uses, including a 180-key hotel, plus a variety of food and retail options alongside new homes.
 
Construction is scheduled to begin next year on FivePoint X, which runs near the southern edge of the Great Park Neighborhoods, close to the city-owned Orange County Great Park…”
9
Irvine Real Estate / Re: How does everyone think of Greatpark?
« Last post by John on Yesterday at 02:54:48 PM »
The only shopping center approved by the city for GP is FivePoint X near Great Park Blvd. and the Sports Park.

FivePoint recently updated their website with more information:

https://www.fivepoint.com/elements/office-and-retail/fivepoint-x-marks-the-spot-for-food-and-retail-at

“FivePoint X Marks the Spot for Food and Retail for Orange County Great Park Visitors

Imagine walking through a modern European village with unique and enticing restaurant and retail offerings, a place where both neighboring residents and out-of-town visitors from across the region meet to sip their favorite drinks, break bread with friends and family, and shop along pedestrian-friendly pathways. Some will walk or ride their bikes from nearby homes, while others may reserve a room and stay overnight in rooms located directly above their favorite dining and retail spots.

This vision, adjacent to the Orange County Great Park, is one step closer to reality with the City of Irvine’s recent approval of FivePoint X, a 425,000 square-foot “mixed-commercial” site located directly across the street from the Great Park Ice facility and a short walk to the nearby Orange County Great Park Sports Complex. The new development will offer something fresh and innovative within the community and serve a niche in the city.



Plans for the 58-acre site also include a full-service hotel with meeting space, a fitness center and restaurant, as well as a separate extended-stay hotel. Both will serve athletes and families who visit from near and far away places to compete at Great Park Ice and the sports complex.

Additionally, FivePoint is establishing a pop-up location alongside the Championship Soccer Stadium at Orange County Great Park that will host several smaller vendors and serve as a “restaurant incubator”. Food will be served from a series of converted shipping containers, and select retail offerings are planned as well.”

The pop-up village the stadium looks almost done if you visit the site, but due to COVID-19 pandemic, we’ll see when they open this pop-up village. I last heard of a possible takeout and delivery option for the pop-up village if they open it.











Anybody know if they're actually moving along with FivePoint X? The fencing that surrounded the land has mostly been taken down and it seems like they're preparing the land for something.
10
Health & Fitness / Re: coronavirus
« Last post by eyephone on Yesterday at 10:26:47 AM »
That’s not “crying”...that’s mocking. Figures you can’t tell the difference. Good luck piker. ;D ;D >:D

Your the baby crying about the F word. Life is tough deal with it.
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Re: Where the market is - Buyer Offers by akula1488
[Today at 12:36:18 PM]


Re: INFLATION IS OUR FRIEND by nosuchreality
[Today at 11:40:20 AM]


Re: Where the market is - Buyer Offers by Ready2Downsize
[Today at 10:47:10 AM]


Re: INFLATION IS OUR FRIEND by Ready2Downsize
[Today at 10:45:26 AM]


Re: coronavirus by lnc
[Today at 10:38:47 AM]

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