Sounds exciting! Who is this Steve guy? Is he specializing on new home inspection?

Steve is the third party inspector from Bilt Rite.  His final report covers lots of things normal buyer like me would not find like chipped tile roof, missing fire sprinklers near furnace in the attic, missing thermal expansion tank…

I forward the punch list to IP construction manager. Hopefully they get them fixed before COE or I’ll delay it until they address the issues.

 

Quote from: Liar Loan on Yesterday at 11:58:34 AM

The housing market just slid into a full-blown correction, says top economist Mark Zandi

This drop-off isn't a result of seasonality or a soft month or two. Zandi says it's a trajectory flip: Demand is pulling back—fast—in the face of mortgage rates that spiked dramatically.

"The housing market has peaked … everything points to a rolling over of the housing market," Zandi says. "In terms of home sales, they're falling sharply. Housing demand is coming down fast. Home price growth to go flat here pretty quickly, we will see [home] price declines in a significant number of markets."

Zandi says the extremely "overvalued" housing markets like Boise and Phoenix are at the highest risk of falling home prices over the coming year.

https://fortune.com/2022/05/27/housing-market-correction-peak-mark-zandi-moodys-home-prices-outlook/

For the record, in Phoenix 30% of recent transactions closed sale have been bought up by Hedge Funds and institutional investors such as Invitation Homes and American Homes 4 rent, also Black Rock residential is prevalence in AZ residential purchases in the past few years to now.

There you go with PHOENIX again. LOL! That is like saying Los Angeles and trying to say it's Irvine.

So my little house I'm using as a temp house which I might give to my daughter so they can rent their house out is closed now. I'll be moving there before the big shebang in a couple weeks. Hubby went on the final walk thru for us and got the keys. Neighbor noticed his cali plates and wanted to welcome us to the neighborhood. They are from Garden Grove and told him someone a few houses down is from Irvine. They too are just moving in, don't know anyone else but who knows how many more people are there from the OC.

My other house is awaiting windows which apparently are hard to get, so good move on my part to secure a place to live for a while has a retired firefighter from Chicago behind us and someone from Seattle next to them.

No one from invitation homes, not that I care but so what? They will continue to buy up anything that comes on the market for under $500K and turn around and rent them out. Guess that puts a floor in the market for a while there, eh?

My neighbor across the street moved today to Tennessee. Someone else here is moving to Florida. We're all cashing in and buying places for cash. Do you think ANY of us will be one bit sorry if houses come down? LOL! NOPE. Cuz we all are paying cashola with leftover cash in lower tax states. TN and FL have no income tax. AZ has the lowest flat tax, 2.5%. And did I mention the much lower property tax? LOL!!!!

There is NOTHING u can say AT ALL to make it look like a bad move. Saying housing coming down? I SOLD! Saying it will fall in PHOENIX? I don't care! Got enough cash from this place to buy four MORE for cash. I'll be losing money? Well the builder always has a spec home and it's 20% more than what I paid so prices would have to fall ALOT to lose money. I can rent the place out and make money!

Too hot? A/C works fine and the houses are better insulated and price per kwh is half of here and even if I pay more, WHO CARES? HOA is 1/3 the price I pay here.

Nothing to do there? LOL! Lots of hiking, and plenty of city water parks which are free. They include skate parks, basketball courts, splash pads, water slides, dozens of gazebos... Did I mention FREE? Yup. No mello for those. Paid for out of city funds. Got my kids there too.

No water? City has 200-300 years worth of ground water mixed with a small amount of Colorado River water................ SMALL amount so the ground water will last another 100 years. In case u think omg............ river is going away.............. we get water from other rivers and reservoirs.

What about all the water the chip plants use? OMG! Hee hee. Waiting for u to throw that at me. They have in house recycling and can't build if they don't use mostly recycled water.

Nothing grows there? LOL! Ok, u believe that if you want.

Property taxes will skyrocket? LOL! Can't be anywhere close to here. They assess all houses every year. They get a budget from everyone who gets property tax funding. Add up what that comes to. Divide by the assessed values and apply a multiplier to the assessed value. Areas with lots of building have more houses contributing every year, way more than the roads cost. Taxes are pretty steady due to building new places. Oh........... what happens if a recession comes and no one builds? Budgets get cut due to layoffs.

Schools are bad? U can pick charter, public, private. The new high school in the district my daughter teaches in is opening up in the summer. I would love to have gone to this one.


 

Quote from: irvinehomeowner on Yesterday at 02:49:22 PM

So Trump scammed us by producing ineffective vaccines?

Crazy.

You have taken over the role that eyephone used to play on this forum.

Actually, you have.

Heavily posting links to other sites that support your opinion… oh wait… morekaos does that too.

If you are considering an ADU, I recommend reaching out to Sidekick Homes.  ( https://www.sidekick.homes/ ). They have phone consults, plus a Saturday Zoom Q+A about how to get an ADU completed in this age of hyper-regulation.  They aren't builders per-se, but consultants who help navigate.

My .02c

So Trump scammed us by producing ineffective vaccines?

Crazy.