Author Topic: 2018 Housing Prices, what are the indications?  (Read 17571 times)

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Offline aquabliss

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Re: 2018 Housing Prices, what are the indications?
« Reply #165 on: May 09, 2018, 11:00:58 PM »
My parents used to always say just start small and gain equity then move up in house size later.  Wash, rinse, repeat.

That might have used to work in the old days but going from $1.0M home to $1.5M home ain’t easy unless you have some windfall of cash or significant earning increase.  That extra $2k-$3k a month goes a long way for other expenses.  A lot of my coworkers feel “trapped” in their $1M homes because of this. 

The rest of the world would probably look at us and roll their eyes being trapped in our million dollar homes.

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Offline paperboyNC

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Re: 2018 Housing Prices, what are the indications?
« Reply #166 on: May 10, 2018, 10:03:28 AM »
My parents used to always say just start small and gain equity then move up in house size later.  Wash, rinse, repeat.

That might have used to work in the old days but going from $1.0M home to $1.5M home ain’t easy unless you have some windfall of cash or significant earning increase.  That extra $2k-$3k a month goes a long way for other expenses.  A lot of my coworkers feel “trapped” in their $1M homes because of this. 

The rest of the world would probably look at us and roll their eyes being trapped in our million dollar homes.

Not to mention the double whammy of an increased property tax basis and higher mortgage rates.

Offline USCTrojanCPA

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Re: 2018 Housing Prices, what are the indications?
« Reply #167 on: May 10, 2018, 10:20:36 AM »
My parents used to always say just start small and gain equity then move up in house size later.  Wash, rinse, repeat.

That might have used to work in the old days but going from $1.0M home to $1.5M home ain’t easy unless you have some windfall of cash or significant earning increase.  That extra $2k-$3k a month goes a long way for other expenses.  A lot of my coworkers feel “trapped” in their $1M homes because of this. 

The rest of the world would probably look at us and roll their eyes being trapped in our million dollar homes.

Not to mention the double whammy of an increased property tax basis and higher mortgage rates.

Probably one of the reasons why you are selling less resale inventory in the sub $1m.
Martin Mania
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mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!

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Offline irvineband

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Re: 2018 Housing Prices, what are the indications?
« Reply #168 on: May 11, 2018, 02:12:30 PM »
My parents used to always say just start small and gain equity then move up in house size later.  Wash, rinse, repeat.

That might have used to work in the old days but going from $1.0M home to $1.5M home ain’t easy unless you have some windfall of cash or significant earning increase.  That extra $2k-$3k a month goes a long way for other expenses.  A lot of my coworkers feel “trapped” in their $1M homes because of this. 

The rest of the world would probably look at us and roll their eyes being trapped in our million dollar homes.

Not to mention the double whammy of an increased property tax basis and higher mortgage rates.

Probably one of the reasons why you are selling less resale inventory in the sub $1m.



Are investors crowding that picture at all with all cash offers or has that slowed down?

Offline USCTrojanCPA

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Re: 2018 Housing Prices, what are the indications?
« Reply #169 on: May 11, 2018, 03:49:35 PM »
My parents used to always say just start small and gain equity then move up in house size later.  Wash, rinse, repeat.

That might have used to work in the old days but going from $1.0M home to $1.5M home ain’t easy unless you have some windfall of cash or significant earning increase.  That extra $2k-$3k a month goes a long way for other expenses.  A lot of my coworkers feel “trapped” in their $1M homes because of this. 

The rest of the world would probably look at us and roll their eyes being trapped in our million dollar homes.

Not to mention the double whammy of an increased property tax basis and higher mortgage rates.

Probably one of the reasons why you are selling less resale inventory in the sub $1m.



Are investors crowding that picture at all with all cash offers or has that slowed down?

Nope, there are still plenty of cash and financed investors (including 1031 exchange investors) out there.  Investors bought 6 of my last 20 listings over the past 18 months. 
Martin Mania
AgencyOne
CA BRE License # 01799007
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!

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Offline irvineband

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Offline Mety

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Re: 2018 Housing Prices, what are the indications?
« Reply #171 on: May 15, 2018, 03:38:45 PM »
Irvine is 4th on the list!

https://www.realtor.com/news/trends/10-housing-markets-bidding-wars-increasing/

The articles says, Woodbridge is a hot neighbor with bidding wars. Is that true?


Offline aquabliss

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Re: 2018 Housing Prices, what are the indications?
« Reply #172 on: May 16, 2018, 04:05:51 AM »
Irvine is 4th on the list!

https://www.realtor.com/news/trends/10-housing-markets-bidding-wars-increasing/

The articles says, Woodbridge is a hot neighbor with bidding wars. Is that true?



The realtor they quoted currently has 2 listings.  One of which is in.... (drumroll please):
https://newportbeach.evusa.com/en/advisors/2942/ramzi-ataya/

Offline Burn That Belly

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Re: 2018 Housing Prices, what are the indications?
« Reply #173 on: May 16, 2018, 09:11:26 AM »
aquabliss

your timestamp says 4:05:51 AM.  Do you work the graveyard shift down at the 7-eleven?   ;D
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Offline irvineband

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Re: 2018 Housing Prices, what are the indications?
« Reply #174 on: May 16, 2018, 05:03:00 PM »
Irvine is 4th on the list!

https://www.realtor.com/news/trends/10-housing-markets-bidding-wars-increasing/

The articles says, Woodbridge is a hot neighbor with bidding wars. Is that true?



The realtor they quoted currently has 2 listings.  One of which is in.... (drumroll please):
https://newportbeach.evusa.com/en/advisors/2942/ramzi-ataya/

O you mean the 8 properties he has listed for sale in Woodbridge?? Yeah that is alot of commission. I can see why he was pushing Woodbridge so hard in that interview. ;)

Rather hear what USCT and others in real estate have to say on this?

Offline aquabliss

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Re: 2018 Housing Prices, what are the indications?
« Reply #175 on: May 16, 2018, 07:10:32 PM »
aquabliss

your timestamp says 4:05:51 AM.  Do you work the graveyard shift down at the 7-eleven?   ;D

Yep, need a second job to pay that Mello...

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