Author Topic: Is this a great buy?  (Read 2661 times)

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Offline talkirvine

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Is this a great buy?
« on: December 30, 2018, 11:51:33 PM »
Hi, all. First of all, Happy New Year! Could anyone comment on this transaction? It looks like a very sweet deal to me at $400/sqft. It is a model home with top material and quality from the builder (as is always for model homes). The landscaping is also done for this property. I visited this house during open house, and I am surprised it's being sold so cheap! The house next-door (second link) is much smaller yet sold for a higher price just three months earlier.

Is this a signal of the start of correction in the irvine housing market? 

https://www.zillow.com/homes/recently_sold/Stonegate-Irvine-CA/137135745_zpid/775702_rid/30_days/globalrelevanceex_sort/33.71529,-117.722819,33.697011,-117.750285_rect/14_zm/

https://www.zillow.com/homedetails/53-Fenway-Irvine-CA-92620/137135746_zpid/



« Last Edit: December 31, 2018, 08:59:57 AM by talkirvine »

Offline B2FiNiTY

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Re: Is this a great buy?
« Reply #1 on: December 31, 2018, 11:21:06 AM »
only three bedrooms, would be better with 4.

Offline meccos12

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Re: Is this a great buy?
« Reply #2 on: December 31, 2018, 11:24:11 AM »
only three bedrooms, would be better with 4.

This makes the OP's point even more valid.  A much smaller house with only 3 bed selling for more than a much larger, 4bed model house. 

To answer the OP's question.  Yes, there is definitely a "correction" or whatever you want to call it.  Its been going on for the past 6 months, but people are just finally realizing it now. 
« Last Edit: December 31, 2018, 03:36:02 PM by meccos12 »

Offline Compressed-Village

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Re: Is this a great buy?
« Reply #3 on: December 31, 2018, 01:35:36 PM »
The buying will pick back up as soon as spring-fling taken ahold. The bargain is when hibernation sales during the off season, cold weather. The thing that keep me scratching my heads is why is it that everyone jump in when, everyone want to buy and not the opposite. It should be buy when everyone is fear and for real estate hold when all rushing for the exit. I’ve done this every down turn and it always workout to my benefit. You have to think long and gutsy.

Time and time again, real estate in Irvine provided me a peaceful sleeps.

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Re: Is this a great buy?
« Reply #4 on: December 31, 2018, 02:29:04 PM »
only three bedrooms, would be better with 4.

This makes the OP's point even more valid.  Much smaller house and only 3 bed selling for cheaper, than a much larger, 4bed model house. 

To answer the OP's question.  Yes, there is definitely a "correction" or whatever you want to call it.  Its been going on for the past 6 months, but people are just finally realizing it now.

Let them figure it out. At the end of the day numbers don’t lie.

Offline ThirtySomethingWEquity

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Re: Is this a great buy?
« Reply #5 on: December 31, 2018, 03:07:25 PM »
The buying will pick back up as soon as spring-fling taken ahold. The bargain is when hibernation sales during the off season, cold weather. The thing that keep me scratching my heads is why is it that everyone jump in when, everyone want to buy and not the opposite. It should be buy when everyone is fear and for real estate hold when all rushing for the exit. I’ve done this every down turn and it always workout to my benefit. You have to think long and gutsy.

Time and time again, real estate in Irvine provided me a peaceful sleeps.

Sounds like you are asserting that prices will either stay flat or go up in the summer of 2019?  I'd take that bet any day.

Offline Compressed-Village

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Re: Is this a great buy?
« Reply #6 on: December 31, 2018, 03:52:24 PM »
The buying will pick back up as soon as spring-fling taken ahold. The bargain is when hibernation sales during the off season, cold weather. The thing that keep me scratching my heads is why is it that everyone jump in when, everyone want to buy and not the opposite. It should be buy when everyone is fear and for real estate hold when all rushing for the exit. I’ve done this every down turn and it always workout to my benefit. You have to think long and gutsy.

Time and time again, real estate in Irvine provided me a peaceful sleeps.

Sounds like you are asserting that prices will either stay flat or go up in the summer of 2019?  I'd take that bet any day.

On the contrary, I want price to go down. My wants, does not mean it will materialize into the areas, neighborhood and the product type that I got my crosshair target aligning with. The best buy will be at the panic. Do you see any panic in housing right now or next year? We are far from the Great Recession era.

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Re: Is this a great buy?
« Reply #7 on: December 31, 2018, 05:20:21 PM »
The buying will pick back up as soon as spring-fling taken ahold. The bargain is when hibernation sales during the off season, cold weather. The thing that keep me scratching my heads is why is it that everyone jump in when, everyone want to buy and not the opposite. It should be buy when everyone is fear and for real estate hold when all rushing for the exit. I’ve done this every down turn and it always workout to my benefit. You have to think long and gutsy.

Time and time again, real estate in Irvine provided me a peaceful sleeps.

Sounds like you are asserting that prices will either stay flat or go up in the summer of 2019?  I'd take that bet any day.

On the contrary, I want price to go down. My wants, does not mean it will materialize into the areas, neighborhood and the product type that I got my crosshair target aligning with. The best buy will be at the panic. Do you see any panic in housing right now or next year? We are far from the Great Recession era.

Treasury Secretary Steven Mnuchin spoke with J.P. Morgan Chase CEO Jamie Dimon, Bank of America's Brian Moynihan, Goldman Sachs' David Solomon, Morgan Stanley's James Gorman, Tim Sloan of Wells Fargo and Michael Corbat of Citigroup.

On Monday, a senior Treasury official, who declined to be named, told CNBC that the purpose of the call and putting out the statement was a "prudent, preemptive measure" following last week's market volatility.

https://www.cnbc.com/2018/12/23/treasury-secretary-mnuchin-held-calls-with-the-ceos-of-major-banks-to-discuss-the-market-turmoil.html

My comment: Last time that happen was with Hank Paulson Jr.?


 

Offline Compressed-Village

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Re: Is this a great buy?
« Reply #8 on: December 31, 2018, 07:36:14 PM »
The buying will pick back up as soon as spring-fling taken ahold. The bargain is when hibernation sales during the off season, cold weather. The thing that keep me scratching my heads is why is it that everyone jump in when, everyone want to buy and not the opposite. It should be buy when everyone is fear and for real estate hold when all rushing for the exit. I’ve done this every down turn and it always workout to my benefit. You have to think long and gutsy.

Time and time again, real estate in Irvine provided me a peaceful sleeps.

Sounds like you are asserting that prices will either stay flat or go up in the summer of 2019?  I'd take that bet any day.

On the contrary, I want price to go down. My wants, does not mean it will materialize into the areas, neighborhood and the product type that I got my crosshair target aligning with. The best buy will be at the panic. Do you see any panic in housing right now or next year? We are far from the Great Recession era.

Treasury Secretary Steven Mnuchin spoke with J.P. Morgan Chase CEO Jamie Dimon, Bank of America's Brian Moynihan, Goldman Sachs' David Solomon, Morgan Stanley's James Gorman, Tim Sloan of Wells Fargo and Michael Corbat of Citigroup.

On Monday, a senior Treasury official, who declined to be named, told CNBC that the purpose of the call and putting out the statement was a "prudent, preemptive measure" following last week's market volatility.

https://www.cnbc.com/2018/12/23/treasury-secretary-mnuchin-held-calls-with-the-ceos-of-major-banks-to-discuss-the-market-turmoil.html

My comment: Last time that happen was with Hank Paulson Jr.?

I think, you are displaying and harboring unnecessary heighten level of paranoia. I know that’s there are some people stretched to acquires homes and properties but one’s must and still have to demonstrate repay ability as well as reliable with their finances before bank lends. Unless there are some unfortunate events compounded all at once for that individual, Banks is still BIG BROTHER, and acts accordingly. Beside, Zillow and Redfin will be ready to pay for assets and investors NEVER pay market price for anything including Irvine homes. :). So be happy and HAPPY NEW YEAR 2019 to ALL. Time to grab my cocktail.

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Re: Is this a great buy?
« Reply #9 on: December 31, 2018, 11:22:52 PM »
The buying will pick back up as soon as spring-fling taken ahold. The bargain is when hibernation sales during the off season, cold weather. The thing that keep me scratching my heads is why is it that everyone jump in when, everyone want to buy and not the opposite. It should be buy when everyone is fear and for real estate hold when all rushing for the exit. I’ve done this every down turn and it always workout to my benefit. You have to think long and gutsy.

Time and time again, real estate in Irvine provided me a peaceful sleeps.

Sounds like you are asserting that prices will either stay flat or go up in the summer of 2019?  I'd take that bet any day.

On the contrary, I want price to go down. My wants, does not mean it will materialize into the areas, neighborhood and the product type that I got my crosshair target aligning with. The best buy will be at the panic. Do you see any panic in housing right now or next year? We are far from the Great Recession era.

Treasury Secretary Steven Mnuchin spoke with J.P. Morgan Chase CEO Jamie Dimon, Bank of America's Brian Moynihan, Goldman Sachs' David Solomon, Morgan Stanley's James Gorman, Tim Sloan of Wells Fargo and Michael Corbat of Citigroup.

On Monday, a senior Treasury official, who declined to be named, told CNBC that the purpose of the call and putting out the statement was a "prudent, preemptive measure" following last week's market volatility.

https://www.cnbc.com/2018/12/23/treasury-secretary-mnuchin-held-calls-with-the-ceos-of-major-banks-to-discuss-the-market-turmoil.html

My comment: Last time that happen was with Hank Paulson Jr.?

I think, you are displaying and harboring unnecessary heighten level of paranoia. I know that’s there are some people stretched to acquires homes and properties but one’s must and still have to demonstrate repay ability as well as reliable with their finances before bank lends. Unless there are some unfortunate events compounded all at once for that individual, Banks is still BIG BROTHER, and acts accordingly. Beside, Zillow and Redfin will be ready to pay for assets and investors NEVER pay market price for anything including Irvine homes. :). So be happy and HAPPY NEW YEAR 2019 to ALL. Time to grab my cocktail.

“Washington Post Article: Treasury secretary startles Wall Street with unusual pre-Christmas calls to top bank CEOs

Several analysts said Sunday night that his outreach to the banks and subsequent statement were likely to backfire and drive even more concern.

“Panic feeds panic and this looks like panic in the administration,” said Diane Swonk, chief economist at Grant Thornton. “Suggesting you might know something that no one else is worried about creates more unease.”

“It’s going to raise the question of whether Treasury and Mnuchin know something the markets don’t,” said Brian Gardner, Washington research director at Keefe, Bruyette & Woods. “Without clarifying further, it’s going to weigh on the markets.”

A number of factors have driven down the stock market recently, according to analysts, including concerns about global economic growth slowing, the Fed’s interest-rate hikes and Trump’s confrontational trade policies.

“There is no credit crunch now,” said Phillip Swagel, who helped fight the financial crisis of 2008 as a top official in George W. Bush’s Treasury Department. “The problem is investor uncertainty extending from the building next door to the Treasury,” he added, referring to the White House.

https://www.washingtonpost.com/business/2018/12/23/treasury-secretary-makes-unusual-pre-christmas-call-top-bank-ceos-amid-market-mayhem

My comment: I’m the last one to blame. I didn’t create uncertainty in the market. Is there something that the public doesn’t know about that made Steven to call the Big Bank CEOs? The way I see it. There’s nothing wrong sharing what analysts and experts are saying.





Offline meccos12

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Re: Is this a great buy?
« Reply #10 on: January 01, 2019, 06:35:47 AM »
The buying will pick back up as soon as spring-fling taken ahold. The bargain is when hibernation sales during the off season, cold weather. The thing that keep me scratching my heads is why is it that everyone jump in when, everyone want to buy and not the opposite. It should be buy when everyone is fear and for real estate hold when all rushing for the exit. I’ve done this every down turn and it always workout to my benefit. You have to think long and gutsy.

Time and time again, real estate in Irvine provided me a peaceful sleeps.

Sounds like you are asserting that prices will either stay flat or go up in the summer of 2019?  I'd take that bet any day.

On the contrary, I want price to go down. My wants, does not mean it will materialize into the areas, neighborhood and the product type that I got my crosshair target aligning with. The best buy will be at the panic. Do you see any panic in housing right now or next year? We are far from the Great Recession era.

Your response here are to things the OP did not say at all.  First, he claimed that you were asserting prices will not go down, not that you were hoping they would.  It is fact you have been assertive that prices would not fall, so OP is correct on this point.  Secondly the OP made no comments nor any references to panic or the great recession.  Yet you bring that up to imply he did.  This is classic strawman.
OP post is very simple.  He think you strongly believe prices will not fall and he/she would bet you on that.  Simple.  Take the bet or dont.  However, I would argue that prices have already begun to fall from the mid year highs so you have already lost that bet. 

Irvine price will be stable as ever while the equities market nose dive. Irvine housing will be your best bet from now going forward.

I asked this before with no direct answer so I'll ask again.  Did you pull all your money out of the market and buy Irvine real estate?  If you truly believe what you say, then you should be leading by example. 
« Last Edit: January 01, 2019, 10:05:14 AM by meccos12 »

Offline irvinehomeowner

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Re: Is this a great buy?
« Reply #11 on: January 02, 2019, 07:54:21 AM »
The buying will pick back up as soon as spring-fling taken ahold. The bargain is when hibernation sales during the off season, cold weather. The thing that keep me scratching my heads is why is it that everyone jump in when, everyone want to buy and not the opposite. It should be buy when everyone is fear and for real estate hold when all rushing for the exit. I’ve done this every down turn and it always workout to my benefit. You have to think long and gutsy.

Time and time again, real estate in Irvine provided me a peaceful sleeps.

Sounds like you are asserting that prices will either stay flat or go up in the summer of 2019?  I'd take that bet any day.

On the contrary, I want price to go down. My wants, does not mean it will materialize into the areas, neighborhood and the product type that I got my crosshair target aligning with. The best buy will be at the panic. Do you see any panic in housing right now or next year? We are far from the Great Recession era.

Your response here are to things the OP did not say at all.  First, he claimed that you were asserting prices will not go down, not that you were hoping they would.  It is fact you have been assertive that prices would not fall, so OP is correct on this point.  Secondly the OP made no comments nor any references to panic or the great recession.  Yet you bring that up to imply he did.  This is classic strawman.
OP post is very simple.  He think you strongly believe prices will not fall and he/she would bet you on that.  Simple.  Take the bet or dont.  However, I would argue that prices have already begun to fall from the mid year highs so you have already lost that bet. 

Irvine price will be stable as ever while the equities market nose dive. Irvine housing will be your best bet from now going forward.

I asked this before with no direct answer so I'll ask again.  Did you pull all your money out of the market and buy Irvine real estate?  If you truly believe what you say, then you should be leading by example. 

Classic meccos always bringing "strawman accusations" into a discussion.

Can't you just simply counter his points? Just because someone doesn't mention something in their post doesn't exclude someone else from replying and asking about it. So what if 30something didn't mention panic or the great recession... CV is just bringing that up as reference to why he thinks the way he does.

And why are you so concerned with what CV invested in? I will remind you that you got irritated when we asked you about your own "personal" experiences.
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Offline meccos12

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Re: Is this a great buy?
« Reply #12 on: January 02, 2019, 07:10:57 PM »
Just because someone doesn't mention something in their post doesn't exclude someone else from replying and asking about it. So what if 30something didn't mention panic or the great recession... CV is just bringing that up as reference to why he thinks the way he does.

This is the literally the definition of a strawman.  Thank you IHO aka "the king of strawman". 

Offline talkirvine

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Re: Is this a great buy?
« Reply #13 on: January 02, 2019, 09:51:20 PM »
I think this is the best deal of the year for 2018 in Irvine. I can not find even second-hand houses being sold at $400/sqft, leave alone the brand new model home. Anyone disagree?

Hi, all. First of all, Happy New Year! Could anyone comment on this transaction? It looks like a very sweet deal to me at $400/sqft. It is a model home with top material and quality from the builder (as is always for model homes). The landscaping is also done for this property. I visited this house during open house, and I am surprised it's being sold so cheap! The house next-door (second link) is much smaller yet sold for a higher price just three months earlier.

Is this a signal of the start of correction in the irvine housing market? 

https://www.zillow.com/homes/recently_sold/Stonegate-Irvine-CA/137135745_zpid/775702_rid/30_days/globalrelevanceex_sort/33.71529,-117.722819,33.697011,-117.750285_rect/14_zm/

https://www.zillow.com/homedetails/53-Fenway-Irvine-CA-92620/137135746_zpid/

Offline irvinehomeowner

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Re: Is this a great buy?
« Reply #14 on: January 03, 2019, 07:53:11 AM »
Just because someone doesn't mention something in their post doesn't exclude someone else from replying and asking about it. So what if 30something didn't mention panic or the great recession... CV is just bringing that up as reference to why he thinks the way he does.

This is the literally the definition of a strawman.  Thank you IHO aka "the king of strawman". 

So explaining your opinion with reasons not previously mentioned is strawman? I don't think that means what you think it means. You get so caught up in trying to catch someone in the minutia that you miss the point of the conversation.

This is a forum that deals with data, opinions, and experience. The nature of the medium does not provide instant feedback or tone so there has to be some back and forth and explanation of what is posted here.

Why don't you try to engage in the conversation with questions and responses without being "the king of strawman accusations"?
Once you go 3-car garage... your junk can never go back.
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I recommend:
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