Author Topic: Newer Irvine listings with crazy WTF asking prices from equity sellers  (Read 1900066 times)

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Offline eyephone

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3300 on: January 16, 2022, 08:17:52 PM »
This photo is from another thread about an open house (attached condo) in S. OC today. According to OP, 10 people inside, 40+ waiting outside to get in and the rest looking for parking.

That is nothing pre covid grand opening of new homes in Irvine would bring thousands of people. (free drinks, boba, snacks, water, food)



Offline airplanes

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3301 on: January 16, 2022, 08:25:03 PM »
Just wait until Facebook and Google cave to employee demands and start offering permanent WFH / remote work to a wider base of employees.  And if you are familiar with the valley and tech culture, you know that the other large employers tend to follow what FB / Google establish as a precedent when it comes to employee benefits.

Software engineers making $500k - $1M+ a year will start descending down to Orange County in hordes, leaving the Bay Area behind them.  As many have already pointed out, lots of them have already made their way down.

Even $800 / sq ft looks like a bargain if you are used to looking at homes in Palo Alto where homes start at $1,500 / sq ft.

I thought facebook delayed to return to the office until March.

Source: cbnc

Yup, you are correct.

Right now lots of employees have left the bay but once they get the green light to never return, lots of them are going to permanently switch NorCal for SoCal.  I used to live/work in the Bay Area and made the switch last year.
« Last Edit: January 16, 2022, 08:31:49 PM by airplanes »

Offline The California Court Company

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3302 on: January 17, 2022, 07:17:19 AM »
I personally knew people who live in Bay Area during weekdays in cheap accommodation and commute to Irvine during the weekend , PRE Covid.

Then you have LA people who are buying in OC…

The trend will get worse…
"Should any Person come into contact with such fruit, soil or groundwater, such Person is advised to wash thoroughly with soap and water and seek immediate medical attention"-Augusta Disclosure, Tustin Legacy

"You'll probably be able to buy a 4BR detached home in Quail Hill for $150,000."-IndieDev

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3303 on: January 17, 2022, 07:40:58 AM »
I personally knew people who live in Bay Area during weekdays in cheap accommodation and commute to Irvine during the weekend , PRE Covid.

Then you have LA people who are buying in OC…

The trend will get worse…
The proposed  Orchard Hills 4 New SFRs will make a great destination for Bay Area buyers with deeper pockets that OC locals  :)

Offline eyephone

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3304 on: January 17, 2022, 09:24:48 AM »
I personally knew people who live in Bay Area during weekdays in cheap accommodation and commute to Irvine during the weekend , PRE Covid.

Then you have LA people who are buying in OC…

The trend will get worse…

It is a waste of time to drive or fly back and forth.

Offline zubs

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3305 on: January 17, 2022, 10:27:45 AM »
I personally knew people who live in Bay Area during weekdays in cheap accommodation and commute to Irvine during the weekend , PRE Covid.

Then you have LA people who are buying in OC…

The trend will get worse…

Worse?
PotatO
potAto

Offline irvinehomeowner

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3306 on: January 17, 2022, 12:06:16 PM »
Don't let Liar Loan see this thread.
Once you go 3-car garage... your junk can never go back.
3CWG: 3-Car Wide Garage
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I recommend:
www.irvinerealtorsite.com
member: Soylent Green Is People (loans/refis)

Offline sleepy5136

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3307 on: January 17, 2022, 12:56:17 PM »
I personally knew people who live in Bay Area during weekdays in cheap accommodation and commute to Irvine during the weekend , PRE Covid.

Then you have LA people who are buying in OC…

The trend will get worse…
yeah the only thing that prevented the inflow of Bay Area/LA folks to move into OC is the lack of tech jobs outside of Google/Amazon. With remote work now potentially being the norm going forward, people can now make the decision to live wherever they want.

Offline scubasteve

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3308 on: January 17, 2022, 03:13:49 PM »
Apple is opening up a design center in Irvine so buy now or get priced out forever! #RSUs

https://www.bloomberg.com/news/articles/2021-12-16/apple-builds-team-in-new-office-to-bring-wireless-chips-in-house

Offline The California Court Company

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3309 on: January 17, 2022, 08:21:05 PM »
well it will be harder for Apple to appreciate more now….its stock almost tripled since the Covid low. do you think it will triple again reaching 9 trillion market cap in two years?  so don’t need to worry about new Apple hires now. it is the people who are tenured but want to make Irvine home for their kids and family and more bang of the buck for housing,  that only need to work in bay area for less than 5 days a week.

Apple is opening up a design center in Irvine so buy now or get priced out forever! #RSUs

https://www.bloomberg.com/news/articles/2021-12-16/apple-builds-team-in-new-office-to-bring-wireless-chips-in-house
"Should any Person come into contact with such fruit, soil or groundwater, such Person is advised to wash thoroughly with soap and water and seek immediate medical attention"-Augusta Disclosure, Tustin Legacy

"You'll probably be able to buy a 4BR detached home in Quail Hill for $150,000."-IndieDev

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3310 on: January 17, 2022, 08:39:17 PM »
well it will be harder for Apple to appreciate more now….its stock almost tripled since the Covid low. do you think it will triple again reaching 9 trillion market cap in two years?  so don’t need to worry about new Apple hires now. it is the people who are tenured but want to make Irvine home for their kids and family and more bang of the buck for housing,  that only need to work in bay area for less than 5 days a week.

Apple is opening up a design center in Irvine so buy now or get priced out forever! #RSUs

https://www.bloomberg.com/news/articles/2021-12-16/apple-builds-team-in-new-office-to-bring-wireless-chips-in-house

Apple also has a very big campus in Austin.

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3311 on: January 17, 2022, 08:41:37 PM »
gg to the people who buy in so cal and gets called back to the office.

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3312 on: January 18, 2022, 07:25:02 AM »
Microsoft is coming to town by way of Activision Blizzard purchase!

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3313 on: January 18, 2022, 01:12:47 PM »
Apple is opening up a design center in Irvine so buy now or get priced out forever! #RSUs

https://www.bloomberg.com/news/articles/2021-12-16/apple-builds-team-in-new-office-to-bring-wireless-chips-in-house

Microsoft just announced the purchase of Activation Blizzard. Irvine now has another mega cap footprint.

Offline felixcat

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3314 on: January 18, 2022, 01:30:04 PM »
Apple is opening up a design center in Irvine so buy now or get priced out forever! #RSUs

https://www.bloomberg.com/news/articles/2021-12-16/apple-builds-team-in-new-office-to-bring-wireless-chips-in-house

Microsoft just announced the purchase of Activation Blizzard. Irvine now has another mega cap footprint.

Microsoft already had an office in Lake Forest for a long time, and the purchasing of Blizzard is just switching of owner, so there is no material impact to the job market here. Unless Microsoft decided to hiring more people locally here but this needs it to open new line of business (which requires more engineering effort to justify the extra headcount).

 

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