Have Irvine real estate values peaked?

Have Irvine real estate values peaked?


  • Total voters
    23
  • Poll closed .
look at recent price drops even at new developments.  Look at standing inventory in beacon park.  Seasonal?  Sure maybe some of it, but this started well in the middle of peak buying/selling season.
 
Who knows. The fed is setting up an unhappy ending, if they continue not to raise the interest rates.

Greenspan 2.0 possibly
 
It looks like it, there seems to be allot of inventory recently which did not seem to be the case before. It is going to be interesting to see what happens in a year when all these new communities open. Excited to see how what type of products will emerge from the competition.
 
Irvinean said:
It looks like it, there seems to be allot of inventory recently which did not seem to be the case before. It is going to be interesting to see what happens in a year when all these new communities open. Excited to see how what type of products will emerge from the competition.

Either it's going to be good or buyer remorse.
 
Irvinean said:
It looks like it, there seems to be allot of inventory recently which did not seem to be the case before. It is going to be interesting to see what happens in a year when all these new communities open. Excited to see how what type of products will emerge from the competition.
Or they'll delay.  Like OH. 5 yr delay
 
Horrible BP sales, USC seems to think price cuts are coming there, which builders do as a last resort, sure seems to indicate prices have peaked.
 
They're definitely high.  I bought in BP. Need to live somewhere and kids are popping out.

Felt overpaid by at least 50-75 per ft.

Not many places that I could get the Floorplan and lot size we wanted without large renovation so just ate it
 
LongIrvine said:
They're definitely high.  I bought in BP. Need to live somewhere and kids are popping out.

Felt overpaid by at least 50-75 per ft.

Not many places that I could get the Floorplan and lot size we wanted without large renovation so just ate it

You bought an Ellwood plan?
 
FCBs will continue to buy in Irvine and other non FCBs will buy to best secure their investment hoping to sell their home to a FCB someday. This is a self sustaining cycle. Base on this price will appreciate.

We are seeing the last of Irvine's developments. Bren is shifting his empire to property management. In his 80's he is about to finish his development empire. There is no more land. TIC is buying land from others to sustain IAC. Fivepoint still has the Great Park but it is also a finite quantity. In less than a decade Irvine will be all about resales. The shortage of land will boost resales. Future appreciation will not have the nice cushion of new home bench marking higher pricing. Price will still appreciate moderately.

Without a new home inventory homeowners have little reason to move. A large portion of FCBs like brand new homes. They will flock to the next master planned city. This insider information is the key to being a pioneer investor. Will the IUSD sustain its high scholastic status? I predict its will not due to the changing of demographic. I don't see the future off spring generations of FCBs have the kind of drive and educational perseverance like the students today. IUSD with its PR machine nonetheless will continue to attract families to buy resales. Price will rise due to demand. FCBs really don't know the nuances of school rankings to decipher the above average from the best.

Lastly, mainlanders are bad news. As long they have money people will tolerate them. This is the case of Irvine, San Marino, PV and parts of Arcadia. This conflict will continue to exist. Many who can't stand them move away as soon the FCB tsunami reach the city like myself. Irvine is a great place for investment if you have other options to live elsewhere. Why invest emotionally into your community?  This city will always be a great place to flip properties. The price will always rise due to greed and plentiful suckers to taking the bait.

To learn more about Mainlanders' motherland read this:
http://livingtraditionally.com/orga...n-in-the-worlds-worst-environmental-cesspool/





 
Just my observation - It looks like we have reached 2006 price point overall. However, the interest rates are much lower compared to 2006. Also factor in inflation and income growth in the last 10 years. There seems still a lot of room for price rise with Irvine homes thru 2016 and 2017. The slowness we are seeing now is manly due to seasonality. BP homes are coming up in MLS  because of unreasonable pricing, high MR and the negative factors associated with that specific community.
 
The market is softer for homes in the +$1M and will continue to stall appreciation and sales. New home construction is a good indicator. We see this in BP already. If we see Strada hit a snag, since they are in the low $1M then that'll be the nail in the coffin. I suspect the market will be stagnant thru 2018. I hope that's not the case since I own in Irvine.
 
Like I previously said, the good deals are out of the picture. Now if you buy, it's long term/for the long haul.

So when people ask, would this be a good investment? The answer is no. Reason the current price per sq ft is too high.

If you really need to buy, wait for the price drop.
 
I think we are pretty much at the peak on this real estate boom cycle.

It's almost 10 years since the great housing bubble and during that time, Irvine's price peak slightly over $400/sq.ft.  And currently the price's over $500/sq.ft., we pretty munch reached a new plateau.



 
Purple said:
Just my observation - It looks like we have reached 2006 price point overall. However, the interest rates are much lower compared to 2006. Also factor in inflation and income growth in the last 10 years. There seems still a lot of room for price rise with Irvine homes thru 2016 and 2017. The slowness we are seeing now is manly due to seasonality. BP homes are coming up in MLS  because of unreasonable pricing, high MR and the negative factors associated with that specific community.

Keep in mind 2006 prices were not based on reality. Are you suggesting we still some time before returning there? I doubt the days of throwing loans out to anyone with a pulse will play out that way again.


 
soysen said:
Purple said:
Just my observation - It looks like we have reached 2006 price point overall. However, the interest rates are much lower compared to 2006. Also factor in inflation and income growth in the last 10 years. There seems still a lot of room for price rise with Irvine homes thru 2016 and 2017. The slowness we are seeing now is manly due to seasonality. BP homes are coming up in MLS  because of unreasonable pricing, high MR and the negative factors associated with that specific community.

Keep in mind 2006 prices were not based on reality. Are you suggesting we still some time before returning there? I doubt the days of throwing loans out to anyone with a pulse will play out that way again.

Not only bad loans were the issue, people were getting let go so how can people pay their mortgages
 
Back
Top