Author Topic: Examples of significant savings?  (Read 4615 times)

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Offline Compressed-Village

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Re: Examples of significant savings?
« Reply #75 on: May 23, 2019, 02:18:17 PM »
Did my “propaganda” silence the slowdowners?

I think as long as housing continue to stabilize, from flat to 1-3 % yoy, then we will hear crickets.

IF the SALT deduction tax law is repealed then housing is going to pop. (No more legal tax shelter)

For rental properties, this has no effects. As a matter of facts, it actually boost the ease of rental deductions in my case.

But there’s less people who own rentals vs people who own homes as a primary residence.

Repeal and Replace the SALT deduction limitation. In my opinion the RE industry should take point on this. (be the lead) Which will drive more sales across the board.

Bring back the American Dream to own a home with the benefit of the tax deductions of course.

Agree, repeal the tax cap is prefer, but this is the new normal, until then. The price pop after the repeal = to the tax cap tax. Either way, it going to get more expensive. I don’t like it, as i’ve seen this happen before.

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Offline irvinehomeowner

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Re: Examples of significant savings?
« Reply #76 on: May 24, 2019, 07:07:40 AM »
But even with SALT, the price drop in Irvine for this current cycle is within the same percentages as previous years. Volume may be different, but the bottom line is how much anyone saved this year is comparable to previous years (or am I reading the data wrong?).

Now maybe we are headed for another dip this fall/winter that might be lower than the one in Feb 19, but that's still following the seasonal pattern I was talking about.

Maybe the November results gave people more hope that housing would stabilize? Also, different from the last significant slowdown is there are more new home developments than in 08-09. If anyone remembers, that's when Orchard Hills did not open and I believe the only new homes being sold were Woodbury, Portola Springs (both closing out their hoods) and Columbus Grove/Square. Does the listing volume also track new homes available that are not on the MLS?

While there may be examples of significant savings, I think those are the outliers and not the norm... at least that's what the data says, personal experience may vary. :)
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Offline eyephone

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Re: Examples of significant savings?
« Reply #77 on: May 24, 2019, 07:24:55 AM »
But even with SALT, the price drop in Irvine for this current cycle is within the same percentages as previous years. Volume may be different, but the bottom line is how much anyone saved this year is comparable to previous years (or am I reading the data wrong?).

Now maybe we are headed for another dip this fall/winter that might be lower than the one in Feb 19, but that's still following the seasonal pattern I was talking about.

Maybe the November results gave people more hope that housing would stabilize? Also, different from the last significant slowdown is there are more new home developments than in 08-09. If anyone remembers, that's when Orchard Hills did not open and I believe the only new homes being sold were Woodbury, Portola Springs (both closing out their hoods) and Columbus Grove/Square. Does the listing volume also track new homes available that are not on the MLS?

While there may be examples of significant savings, I think those are the outliers and not the norm... at least that's what the data says, personal experience may vary. :)

Wasn’t last summer slow?

Offline irvinehomeowner

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Re: Examples of significant savings?
« Reply #78 on: May 24, 2019, 08:46:21 AM »
But even with SALT, the price drop in Irvine for this current cycle is within the same percentages as previous years. Volume may be different, but the bottom line is how much anyone saved this year is comparable to previous years (or am I reading the data wrong?).

Now maybe we are headed for another dip this fall/winter that might be lower than the one in Feb 19, but that's still following the seasonal pattern I was talking about.

Maybe the November results gave people more hope that housing would stabilize? Also, different from the last significant slowdown is there are more new home developments than in 08-09. If anyone remembers, that's when Orchard Hills did not open and I believe the only new homes being sold were Woodbury, Portola Springs (both closing out their hoods) and Columbus Grove/Square. Does the listing volume also track new homes available that are not on the MLS?

While there may be examples of significant savings, I think those are the outliers and not the norm... at least that's what the data says, personal experience may vary. :)

Wasn’t last summer slow?

Maybe volume-wise but prices still peaked in July 2018. Remember, that's when Delano was going bonkers (is it still selling that high?).
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Offline irvinehomeowner

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Re: Examples of significant savings?
« Reply #79 on: May 24, 2019, 08:54:37 AM »
The best time in the last 2 years to "wait" would have been Mar/Apr 2017 when median price was $884k and then buying in Mar/Apr 2018 a year later when the median was $820k... a 7.2% savings.

Savings peak to trough for this year was 4.8%.
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Offline Compressed-Village

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Re: Examples of significant savings?
« Reply #80 on: May 24, 2019, 10:53:48 AM »
Looking in the rear view mirrors is always clearer.  :)

Offline OCtoSV

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Re: Examples of significant savings?
« Reply #81 on: May 29, 2019, 11:58:51 AM »
The best time in the last 2 years to "wait" would have been Mar/Apr 2017 when median price was $884k and then buying in Mar/Apr 2018 a year later when the median was $820k... a 7.2% savings.

Savings peak to trough for this year was 4.8%.

The first part tracked closely with our experience in the Bay area - early 2017 saw a lull, and we grabbed an insane value in March 2017. A year later however prices had risen 20-30%+

 

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