Poll

Choose which range of homes you are looking for in Irvine

Less than $500k (do these exist?)
0 (0%)
$500k to $750k
5 (12.2%)
$750k to $1m
8 (19.5%)
$1m to $1.5m
17 (41.5%)
$1.5m to $2m
7 (17.1%)
$2m+ (baller)
4 (9.8%)
Other
0 (0%)

Total Members Voted: 39

Author Topic: What price range are you shopping for in Irvine?  (Read 1980 times)

0 Members and 1 Guest are viewing this topic.

Offline irvinehomeowner

  • The Unicorn Hunter
  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 1999
  • -Received: 3467
  • Posts: 19571
  • 3CWG
What price range are you shopping for in Irvine?
« on: November 13, 2018, 12:18:50 PM »
So what price range is the typical TI member looking for?

I think in a previous poll, most of the members here already own and aren't even looking any more but if you are... how much are you looking to spend?

It's sad that you can't get a 4br detached SFR in Irvine in the mid $700k range anymore (or can you?).
Once you go 3-car garage... your junk can never go back.
3CWG: 3-Car Wide Garage
FCB: Foreign Cash Buyer
I recommend:
www.irvinerealtorsite.com
www.loansbyjw.com

Offline RoyceLSP

  • Newbie
  • Thanks
  • -Given: 4
  • -Received: 3
  • Posts: 7
Re: What price range are you shopping for in Irvine?
« Reply #1 on: November 13, 2018, 01:33:32 PM »
Under $750k would be ideal, but we’ve had to push it up to $800k.

It’s not a 4BR, but there is that one 3BR that went for $691k mentioned in that other thread...how did that happen?! Unicorn or major house issue? Luck? ;D

ETA: this one https://www.redfin.com/CA/Irvine/181-Pathway-92618/home/45377541

I see a 4BR townhome for $750k currently, but that’s really it for 4BRs under 800 I think.
« Last Edit: November 13, 2018, 01:50:46 PM by RoyceLSP »

The following member(s) thanked this post:


Offline newPParker

  • Tourist
  • *
  • Thanks
  • -Given: 6
  • -Received: 3
  • Posts: 29
Re: What price range are you shopping for in Irvine?
« Reply #2 on: November 13, 2018, 02:11:57 PM »
Under $750k would be ideal, but we’ve had to push it up to $800k.

It’s not a 4BR, but there is that one 3BR that went for $691k mentioned in that other thread...how did that happen?! Unicorn or major house issue? Luck? ;D

ETA: this one https://www.redfin.com/CA/Irvine/181-Pathway-92618/home/45377541

I see a 4BR townhome for $750k currently, but that’s really it for 4BRs under 800 I think.

Buyers market! it started off 799 and sold for 691. very fishy!

Offline paperboyNC

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 308
  • -Received: 244
  • Posts: 1521
  • Gender: Male
  • Portola Springs
Re: What price range are you shopping for in Irvine?
« Reply #3 on: November 13, 2018, 02:32:24 PM »
Redfin filters:
 - 1,750+ sqft
 - 4+ bedrooms
 - 1990 or newer
 - SFR
 - active + coming soon

- Under 900k:
NONE

- Under 1m with a driveway (2):
https://www.redfin.com/CA/Irvine/27-Iowa-92606/home/4680030
https://www.redfin.com/CA/Irvine/43-Declaration-Pl-92602/home/4791869


For all of the slowdown talk, it's sure taking time for prices on desirable homes to budge

Offline Compressed-Village

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 211
  • -Received: 155
  • Posts: 1195
Re: What price range are you shopping for in Irvine?
« Reply #4 on: November 13, 2018, 03:52:07 PM »
The benefits outweigh the waiting for ever. Or waiting until dooms days..

Speaking of which, the fire storms in CA, might be a bad time to discuss, but with tragedies comes opportunities, am I right?

I don't want to lighten about the crisis, but rebuild in hilly and forest area must comes with better fire fighting technology and methodologies.

Waiting for helicopter to drop water is like squatting a thousands flies with 1 finger.

Another reason why I did not want to buy in orchards and hilly neighborhoods. But yes, it is devastating sad and these homeowners will take years to rebuild. I still remember the Orchard Hills fire in 2007, it actually jumped Portola and scorched the 133 and nearly missed North Park and West Irvine.

And I can be certain that the cost for labor and material continue to climb.

Offline meccos12

  • Yearning for 949 / 714
  • **
  • Thanks
  • -Given: 20
  • -Received: 48
  • Posts: 248
Re: What price range are you shopping for in Irvine?
« Reply #5 on: November 13, 2018, 06:45:26 PM »
For all of the slowdown talk, it's sure taking time for prices on desirable homes to budge

This is actually an excellent topic to discuss.  Slowdown talks began mostly around end of July/beginning of August.  Would one expect prices to be affected already?  I've always been of the mindset that prices lag volume and furthermore since homes can take 30-60 days to close, price changes will not be realized for many months after. 

Offline meccos12

  • Yearning for 949 / 714
  • **
  • Thanks
  • -Given: 20
  • -Received: 48
  • Posts: 248
Re: What price range are you shopping for in Irvine?
« Reply #6 on: November 13, 2018, 06:46:34 PM »
And I can be certain that the cost for labor and material continue to climb.

Actually lumber costs are dropping.

Offline irvinehomeowner

  • The Unicorn Hunter
  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 1999
  • -Received: 3467
  • Posts: 19571
  • 3CWG
Re: What price range are you shopping for in Irvine?
« Reply #7 on: November 13, 2018, 07:58:34 PM »
As I said in the Housing Analysis thread, even with normal lag, Irvine prices are extra laggy going down.but very fast going up.

And with so much new housing stock, prices will be extra sticky.
Once you go 3-car garage... your junk can never go back.
3CWG: 3-Car Wide Garage
FCB: Foreign Cash Buyer
I recommend:
www.irvinerealtorsite.com
www.loansbyjw.com

Offline Compressed-Village

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 211
  • -Received: 155
  • Posts: 1195
Re: What price range are you shopping for in Irvine?
« Reply #8 on: November 13, 2018, 08:47:59 PM »
And I can be certain that the cost for labor and material continue to climb.

Actually lumber costs are dropping.

You don’t know what you talking about.

CEO Steven Hilton told investors recently that higher lumber prices have this year added about $3,000 on average to the cost of each house it builds. At Home Depot Inc., wood product prices are up about 30% year-over-year.

Offline meccos12

  • Yearning for 949 / 714
  • **
  • Thanks
  • -Given: 20
  • -Received: 48
  • Posts: 248
Re: What price range are you shopping for in Irvine?
« Reply #9 on: November 14, 2018, 06:10:30 AM »
And I can be certain that the cost for labor and material continue to climb.

Actually lumber costs are dropping.

You don’t know what you talking about.

CEO Steven Hilton told investors recently that higher lumber prices have this year added about $3,000 on average to the cost of each house it builds. At Home Depot Inc., wood product prices are up about 30% year-over-year.

You are quoting a WSJ article from half a year ago.  Since then, lumber has dropped >50% from its high in June.  Stop looking at old data as things can change quickly.  This is probably the reason why you and IHO still doubt a slowdown.

https://markets.businessinsider.com/commodities/lumber-price

Offline Compressed-Village

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 211
  • -Received: 155
  • Posts: 1195
Re: What price range are you shopping for in Irvine?
« Reply #10 on: November 14, 2018, 08:47:56 AM »
And I can be certain that the cost for labor and material continue to climb.

Actually lumber costs are dropping.

You don’t know what you talking about.

CEO Steven Hilton told investors recently that higher lumber prices have this year added about $3,000 on average to the cost of each house it builds. At Home Depot Inc., wood product prices are up about 30% year-over-year.

You are quoting a WSJ article from half a year ago.  Since then, lumber has dropped >50% from its high in June.  Stop looking at old data as things can change quickly.  This is probably the reason why you and IHO still doubt a slowdown.

https://markets.businessinsider.com/commodities/lumber-price

Stop quoting broad market index as a gauge. You have not been into hardware, or HD stores to realize the building materials costs from what you pisted. I know this because I buy materials.

And who doesn’t agree with a slow down. The disagreement is, is it beneficial to wait during the slow down or buy when weakness exist and produce favorable negotiation? That is what using current slow down to gain the upper hands. As far as price drop, you gonna have to wait for a long time if any.

Offline brianlin87

  • Tourist
  • *
  • Thanks
  • -Given: 2
  • -Received: 1
  • Posts: 13
Re: What price range are you shopping for in Irvine?
« Reply #11 on: November 14, 2018, 08:53:27 AM »
And I can be certain that the cost for labor and material continue to climb.

Actually lumber costs are dropping.

You don’t know what you talking about.

CEO Steven Hilton told investors recently that higher lumber prices have this year added about $3,000 on average to the cost of each house it builds. At Home Depot Inc., wood product prices are up about 30% year-over-year.

https://www.cnbc.com/2018/10/16/homebuilder-sentiment-improves-in-october-as-lumber-prices-fall.html

Lumber prices are falling because supplies are rising.  Fundamental economics. 

That said, every RE economist (Burns/Boud, Metrostudy, Chapman, UCLA to name a few) that covers the Orange County RE Market has already taken note of a Q3 "slow down" as a result of either rising interest rates or $USD currency exchange rates.  It's not a question of "if", it is a question of "how much" of a hiccup this market will experience. 

The only challenge that currently exists in RE Development has been good labor.   

Offline fortune11

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 154
  • -Received: 180
  • Posts: 1472
Re: What price range are you shopping for in Irvine?
« Reply #12 on: November 14, 2018, 09:09:38 AM »
This is a general point not just lumber

You are seeing a global slowdown in industrial demand esp from China . US is not immune to all this

As I had said in the economics threads , expect 2019 gdp to be a lot lower than the strong numbers of q2 2018

But no recession On horizon

Housing moved first on the downdraft and it will also move higher first on the uptick - negotiate your deal now if you have the $$ to spend .

Offline moc

  • Newbie
  • Thanks
  • -Given: 5
  • -Received: 3
  • Posts: 8
Re: What price range are you shopping for in Irvine?
« Reply #13 on: November 14, 2018, 09:43:35 AM »
So what price range is the typical TI member looking for?

I think in a previous poll, most of the members here already own and aren't even looking any more but if you are... how much are you looking to spend?

It's sad that you can't get a 4br detached SFR in Irvine in the mid $700k range anymore (or can you?).

We are staying under $750k, ideally under $700k. We are first time homebuyers, and our ideal would be to stay in Irvine. 4 bedrooms is impossible on our budget, and honestly even promising three bedrooms are tough to find.

I am always fascinated to read the way people discuss real estate on TI. For folks that have purchased multiple homes in their lives and been building equity for years I'm sure this all feels very different than it does to me and my family. As a first time home buyer who is just sick of wasting money on rent every month (and yes - while still paying off student loans! Classic millennial right here), I don't really care where the market is right now or whether we end up in 3 bedrooms or 4 bedrooms (more bedrooms than we have now either way!). I just know I'm not getting any younger and my husband and I want to buy a house.

The following member(s) thanked this post:


Offline Compressed-Village

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 211
  • -Received: 155
  • Posts: 1195
Re: What price range are you shopping for in Irvine?
« Reply #14 on: November 14, 2018, 10:03:31 AM »
So what price range is the typical TI member looking for?

I think in a previous poll, most of the members here already own and aren't even looking any more but if you are... how much are you looking to spend?

It's sad that you can't get a 4br detached SFR in Irvine in the mid $700k range anymore (or can you?).

We are staying under $750k, ideally under $700k. We are first time homebuyers, and our ideal would be to stay in Irvine. 4 bedrooms is impossible on our budget, and honestly even promising three bedrooms are tough to find.

I am always fascinated to read the way people discuss real estate on TI. For folks that have purchased multiple homes in their lives and been building equity for years I'm sure this all feels very different than it does to me and my family. As a first time home buyer who is just sick of wasting money on rent every month (and yes - while still paying off student loans! Classic millennial right here), I don't really care where the market is right now or whether we end up in 3 bedrooms or 4 bedrooms (more bedrooms than we have now either way!). I just know I'm not getting any younger and my husband and I want to buy a house.


You just described my states of mind, when we bought our first home. And at the time, things looks expensive to us, I pulled the trigger and nearly faint sign the loans docs, mind you this was 20 + years ago. And guess what, after all these years of up and down, I am so glad we bought. I wouldn’t just sit and wait because I know that I will be better off and satisfy with my decision. I am sure you will run your numbers and find a suitable for your family. If your mind frame is to be an owner, then you will get there. Some are perfectly happy renting.

 

Talk Irvine Links

[Recent Posts]
[FAQ / Rules]

Site Supporters


Related Links

Recent Posts