Author Topic: New Listing - Jasmine Plan 3 detached condo @ Cypress Village (93 Island Coral)  (Read 1877 times)

0 Members and 1 Guest are viewing this topic.

Offline Irvinehomeseeker

  • Yearning for 949 / 714
  • **
  • Thanks
  • -Given: 56
  • -Received: 38
  • Posts: 361
@uscTrojanCPA  Is the Low inventory driving this surge or the Low Mortgage interest?

I think this price run-up is primarily due to the low inventory levels which have a lot of buyers swarming the same listings.  Of the 4 buyers, 2 were all cash and the other ones were putting 30% down and 70% down. I'm sure that the financed buyers want to lock in their low rates before they go up any further.
Goes to show that Irvine  continues to attract cash buyers despite overseas investors shrinking in numbers.  Or is it that FCB are back with things returning to normal?

Offline USCTrojanCPA

  • Your CPA Realtor
  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 2522
  • -Received: 2020
  • Posts: 9791
  • Gender: Male
@uscTrojanCPA  Is the Low inventory driving this surge or the Low Mortgage interest?

I think this price run-up is primarily due to the low inventory levels which have a lot of buyers swarming the same listings.  Of the 4 buyers, 2 were all cash and the other ones were putting 30% down and 70% down. I'm sure that the financed buyers want to lock in their low rates before they go up any further.
Goes to show that Irvine  continues to attract cash buyers despite overseas investors shrinking in numbers.  Or is it that FCB are back with things returning to normal?

Cash buyers are alive and well.  Not all are FCBs as some are 1031 exchange cash buyer investors (which was one of the buyers on 93 Island Coral). 
Martin Mania, CPA
AgencyOne
CA BRE License # 01799007
CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!

Offline Cares

  • Real Estate Broker & Mortgage Loan Originator
  • O.C. Resident
  • ***
  • Thanks
  • -Given: 11
  • -Received: 176
  • Posts: 902
China still has restrictions on outflow of cash so you will see less FCB than 5 years ago. They have to get the money out through illegal means or 3rd party countries which is expensive.

Offline USCTrojanCPA

  • Your CPA Realtor
  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 2522
  • -Received: 2020
  • Posts: 9791
  • Gender: Male
China still has restrictions on outflow of cash so you will see less FCB than 5 years ago. They have to get the money out through illegal means or 3rd party countries which is expensive.

True but where there is a will (and $$$) there is always a way (through Hong Kong as an example).  I've seen many FCB buyers use Sterling, Cathay, East West, etc for asset backed loans with 50%+ down with a 5 year ARM.  I figure they'll bring over enough cash to pay off that loan within 5 days.
Martin Mania, CPA
AgencyOne
CA BRE License # 01799007
CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!

 

Talk Irvine Links

[Recent Posts]
[FAQ / Rules]

Site Supporters


Recent Posts

Re: Dow? by morekaos
[Today at 07:54:56 AM]


Re: Toyota moving to Texas by morekaos
[Today at 07:41:45 AM]


Re: Where the market is - Buyer Offers by Cares
[Today at 07:27:52 AM]


Re: Apple New Products by aquabliss
[Today at 02:03:13 AM]


Re: Where the market is - Buyer Offers by USCTrojanCPA
[Today at 12:15:59 AM]

SimplePortal 2.3.7 © 2008-2021, SimplePortal