Author Topic: Examples of significant savings?  (Read 6574 times)

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Offline irvinehomeowner

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Re: Examples of significant savings?
« Reply #45 on: April 08, 2019, 02:34:42 PM »
AI has other plans. :)
Once you go 3-car garage... your junk can never go back.
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Offline Compressed-Village

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Re: Examples of significant savings?
« Reply #46 on: April 08, 2019, 02:52:36 PM »
Life too short to wait for the lloooonnnngggg bottom. Just do it and live happily ever after.

Offline Mety

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Re: Examples of significant savings?
« Reply #47 on: April 08, 2019, 03:49:05 PM »
Tax season is almost over.
Would it give much impact on the market?



Offline eyephone

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Re: Examples of significant savings?
« Reply #48 on: April 08, 2019, 03:49:42 PM »
Life too short to wait for the lloooonnnngggg bottom. Just do it and live happily ever after.

Buffet got a deal when he bought shares of banks during the financial crisis.

Offline eyephone

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Re: Examples of significant savings?
« Reply #49 on: April 08, 2019, 03:50:08 PM »
Tax season is almost over.
Would it give much impact on the market?

I wouldn’t know. I haven’t done it yet.

Offline Mety

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Re: Examples of significant savings?
« Reply #50 on: April 08, 2019, 04:37:11 PM »
Tax season is almost over.
Would it give much impact on the market?

I wouldn’t know. I haven’t done it yet.

One week left.

Offline irvinehomeowner

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Re: Examples of significant savings?
« Reply #51 on: April 19, 2019, 07:27:25 AM »
So did anyone find any more examples of significant savings other than the 2 houses kenkoko pointed out?
Once you go 3-car garage... your junk can never go back.
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Offline Mety

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Re: Examples of significant savings?
« Reply #52 on: May 15, 2019, 02:49:00 PM »
Copying and pasting here as well per IHO's request.

Here are some examples. Please check the price histories. Not all of them are under super recent categories, but the point is the waiting situation instead of buying right away played well between the entire last year and recent.

https://www.zillow.com/homedetails/110-Confederation-Way-Irvine-CA-92602/25520651_zpid/
This was listed first in 2018 at $980 and finally got sold Feb this year at $808k. You can do the math how much % that is and it's much higher than your 10%. West Irvine is pretty close to NP also.

https://www.redfin.com/CA/Irvine/29-Keepsake-92618/home/40102842
The buyer would have paid $52k more if bought in Oct. 2018 when first listed. Good thing they waited.

https://www.redfin.com/CA/Irvine/181-Pathway-92618/home/45377541
$800k to $691k. For real? It was not a short sale either.

https://www.zillow.com/homedetails/216-Firefly-Irvine-CA-92618/147889373_zpid/
Almost $40k savings? Sure, we can take that. Oh, the interest rate got better also.

https://www.redfin.com/CA/Irvine/74-Borghese-92618/home/51681127
I saved $270k on this one. Thanks!

https://www.redfin.com/CA/Irvine/71-Brindisi-92603/home/58555201
Ok, not as much savings, but still $75k reduction sounds good.

https://www.redfin.com/CA/Irvine/103-Canopy-92603/home/5944496
Almost 10% cuts.

https://www.redfin.com/CA/Irvine/12-Campanero-E-92620/home/4784525
$900k to $797? Psss..


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Offline irvinehomeowner

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Re: Examples of significant savings?
« Reply #53 on: May 15, 2019, 04:42:44 PM »
@Mety:

Where are the same model comps?
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
member: Soylent Green Is People (loans/refis)

Offline eyephone

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Re: Examples of significant savings?
« Reply #54 on: May 16, 2019, 07:01:12 AM »
Copying and pasting here as well per IHO's request.

Here are some examples. Please check the price histories. Not all of them are under super recent categories, but the point is the waiting situation instead of buying right away played well between the entire last year and recent.

https://www.zillow.com/homedetails/110-Confederation-Way-Irvine-CA-92602/25520651_zpid/
This was listed first in 2018 at $980 and finally got sold Feb this year at $808k. You can do the math how much % that is and it's much higher than your 10%. West Irvine is pretty close to NP also.

https://www.redfin.com/CA/Irvine/29-Keepsake-92618/home/40102842
The buyer would have paid $52k more if bought in Oct. 2018 when first listed. Good thing they waited.

https://www.redfin.com/CA/Irvine/181-Pathway-92618/home/45377541
$800k to $691k. For real? It was not a short sale either.

https://www.zillow.com/homedetails/216-Firefly-Irvine-CA-92618/147889373_zpid/
Almost $40k savings? Sure, we can take that. Oh, the interest rate got better also.

https://www.redfin.com/CA/Irvine/74-Borghese-92618/home/51681127
I saved $270k on this one. Thanks!

https://www.redfin.com/CA/Irvine/71-Brindisi-92603/home/58555201
Ok, not as much savings, but still $75k reduction sounds good.

https://www.redfin.com/CA/Irvine/103-Canopy-92603/home/5944496
Almost 10% cuts.

https://www.redfin.com/CA/Irvine/12-Campanero-E-92620/home/4784525
$900k to $797? Psss..

Way to go Mety. Nice work. I’m sure there’s even more.

Offline irvinehomeowner

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Re: Examples of significant savings?
« Reply #55 on: May 16, 2019, 09:13:43 AM »
Okay, was finally able to look at some of those homes.

One thing to note is you can't take their original listing price, compare them to their sold price and say that was the discount. We all know people list at dream levels. You need to compare sold prices for same models in 2018 vs sold prices now.

Some of the things I notice with these listings:

1. Most of the discounted ones are in Portola Springs and their sold price looks comparable to what they should be selling for.
2. The Laguna Altura ones are closest to the 405 so the original list may be wish prices and the discount reflects that proximity

Since Laguna Altura is easier to search for, here is a comparison:

Sold in August 2018 for $900k:
https://www.redfin.com/CA/Irvine/45-Brindisi-92618/home/51681098

Same model soid in Jan 2019 for $1.045m:
https://www.redfin.com/CA/Irvine/75-Brindisi-92603/home/58555205

Increase of $104k!!!

Smaller model sold for $980k in Oct 2018:
https://www.redfin.com/CA/Irvine/71-Brindisi-92603/home/5855520

Larger model next door sold for $998K in April 2019:
https://www.redfin.com/CA/Irvine/67-Brindisi-92603/home/58555202

So these look in line with comps and don't seem to be discounted much from last year. I can probably do the same thing for Portola Springs but I'm less familiar with those models and it will take me more time.

But my question is are these any different from what happens during the yearly low cycles? One can probably go back each year and find similar examples of list vs sale price.

What makes these "significant" versus previous years?
Once you go 3-car garage... your junk can never go back.
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FCB: Foreign Cash Buyer
I recommend:
www.irvinerealtorsite.com
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Offline eyephone

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Re: Examples of significant savings?
« Reply #56 on: May 16, 2019, 09:19:35 AM »
I think we can all agree reducing the price is a reduction in price. (Call it what you want. But the buyer saved money.)

Offline irvinehomeowner

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Re: Examples of significant savings?
« Reply #57 on: May 16, 2019, 09:21:45 AM »
I think we can all agree reducing the price is a reduction in price. (Call it what you want. But the buyer saved money.)


Not really. You have to compare  the sold price last year to this year.

Using your logic, people save money all the time, slowdown or not... or they overpay all the time when they buy above list price which happens too.
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
member: Soylent Green Is People (loans/refis)

Offline eyephone

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Re: Examples of significant savings?
« Reply #58 on: May 16, 2019, 09:29:20 AM »
Yes I am right.

Chalk another W for me.

Offline eyephone

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Re: Examples of significant savings?
« Reply #59 on: May 16, 2019, 09:35:51 AM »
Just think the way you do and believe nothing happened. Forget what the New Home Comapny and Toll Brothers CEOs statements regarding housing.

 

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