Move-up buyers in Woodbury (or anywhere in Irvine)?

irvinehomeowner

irvinehomeowner

Well-known member
So on yesterday's IHB blog, IrvineRenter made this interesting comment  (in response to me saying there was still a move-up market in Irvine):
http://www.irvinehousingblog.com/blog/comments/housing-atm-empty-heloc-abuse-hits-record-low/
IrvineRenter said:
?Do you think those 500+ buyers in Woodbury/WBE were all first-timers??

None of them were buying contingent on selling another home. There is no move up market.
Click to expand...
Is that true? I know of at least one or two move-up buyers in Woodbury so for any of you who did purchase there... were you a move-up buyer?

And even if you purchased somewhere else in Irvine... did you sell/rent out your previous home to get into your new one?

I know that when I buy my next home in Irvine... I'll be a move-up buyer.
 
We were move up buyers.  We sold our previous home then moved into the Woodbury home a few months later.  Buying non-contingent doesn't mean they are not move up buyers.  That's not the right data to measure move up or not.  I would think one would have to pull up the previous transaction data to measure this.
 
irvinehomeowner said:
So on yesterday's IHB blog, IrvineRenter made this interesting comment  (in response to me saying there was still a move-up market in Irvine):
http://www.irvinehousingblog.com/blog/comments/housing-atm-empty-heloc-abuse-hits-record-low/
IrvineRenter said:
?Do you think those 500+ buyers in Woodbury/WBE were all first-timers??

None of them were buying contingent on selling another home. There is no move up market.
Click to expand...
Is that true? I know of at least one or two move-up buyers in Woodbury so for any of you who did purchase there... were you a move-up buyer?

And even if you purchased somewhere else in Irvine... did you sell/rent out your previous home to get into your new one?

I know that when I buy my next home in Irvine... I'll be a move-up buyer.
Click to expand...

I am definitely a move-up buyer who bought in Woodbury.  I am also not FCB if you are interested.  Without the proceeds from the sale of my current home (which I owned for 14+ years), there's no way I can afford any newer SFR in Irvine.

I sold my house first and tried to buy a resale house in Irvine, but ended up buying a new house in Woodbury due to price and availability.  So I was non-contingent.  It is very true that non-contingent does not always mean first time home buyer. 
My co-worker bought in Woodbury East as non-contingent by showing his retirement account as down payment money, but will be selling his condo in Tustin to fund the down payment.
 
irvinehomeowner said:
scubasteve:

So how did they deal with the "non-contingent" requirement?
Click to expand...

They never sold their old townhouse home and are now using it as rental property.... they both bought their townhomes back in 2000 before the bubble hit so they were able to still save a lot of money while living in their old homes...
 
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