Author Topic: Where the market is - Buyer Offers  (Read 55183 times)

0 Members and 2 Guests are viewing this topic.

Offline USCTrojanCPA

  • Your CPA Realtor
  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 2611
  • -Received: 2102
  • Posts: 10299
  • Gender: Male
Martin Mania, CPA
AgencyOne
CA BRE License # 01799007
CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!
Have license, will travel!

Offline OCtoSV

  • Yearning for 949 / 714
  • **
  • Thanks
  • -Given: 61
  • -Received: 38
  • Posts: 248
Re: Where the market is - Buyer Offers
« Reply #211 on: May 18, 2021, 07:16:45 AM »
Fulton is beautiful - private grass back yard, good old Northwood location. What do you think it will go for?

Offline USCTrojanCPA

  • Your CPA Realtor
  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 2611
  • -Received: 2102
  • Posts: 10299
  • Gender: Male
Re: Where the market is - Buyer Offers
« Reply #212 on: May 18, 2021, 09:18:16 AM »
Fulton is beautiful - private grass back yard, good old Northwood location. What do you think it will go for?

Yeah and it has as door access to the park which is really cool.  They had 3 offers already as of Sunday before I submitted my offer.  My guess is that it may go in the mid $1.1s on counters.
Martin Mania, CPA
AgencyOne
CA BRE License # 01799007
CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!
Have license, will travel!

Offline OCtoSV

  • Yearning for 949 / 714
  • **
  • Thanks
  • -Given: 61
  • -Received: 38
  • Posts: 248
Re: Where the market is - Buyer Offers
« Reply #213 on: May 18, 2021, 09:46:46 AM »
Fulton is beautiful - private grass back yard, good old Northwood location. What do you think it will go for?

Yeah and it has as door access to the park which is really cool.  They had 3 offers already as of Sunday before I submitted my offer.  My guess is that it may go in the mid $1.1s on counters.

Wow - OC buyers with solid mid-career F1000 corporate incomes or doctors /lawyers have so many options in the low 1Ms relative to where I live - I know that location very well and I would personally for that price point call it the absolute best value area of Irvine. If I wasn't harvesting my location so well I would buy something like it and move back.

Offline irvinehomeowner

  • The Unicorn Hunter
  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 2661
  • -Received: 4014
  • Posts: 23068
  • 3CWG
Re: Where the market is - Buyer Offers
« Reply #214 on: May 18, 2021, 01:57:53 PM »
Dang... does this mean 3CWG are over $1.5m? Or even $2m?

Now that's the real pain of Irvine.
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 USCTrojanCPA

  • Your CPA Realtor
  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 2611
  • -Received: 2102
  • Posts: 10299
  • Gender: Male
Re: Where the market is - Buyer Offers
« Reply #215 on: May 18, 2021, 04:53:54 PM »
Fulton is beautiful - private grass back yard, good old Northwood location. What do you think it will go for?

Yeah and it has as door access to the park which is really cool.  They had 3 offers already as of Sunday before I submitted my offer.  My guess is that it may go in the mid $1.1s on counters.

Wow - OC buyers with solid mid-career F1000 corporate incomes or doctors /lawyers have so many options in the low 1Ms relative to where I live - I know that location very well and I would personally for that price point call it the absolute best value area of Irvine. If I wasn't harvesting my location so well I would buy something like it and move back.

Yeah, dual income households with two low 6 figure incomes can easily afford low to middle $1m homes as long as they have 20% down. No Mello Roos and HOA for that home as well which makes it that much more attractive.
Martin Mania, CPA
AgencyOne
CA BRE License # 01799007
CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!
Have license, will travel!

Offline Cares

  • Real Estate Broker & Mortgage Loan Originator
  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 12
  • -Received: 231
  • Posts: 1195
Re: Where the market is - Buyer Offers
« Reply #216 on: May 19, 2021, 03:26:12 PM »
Put offers in on:

https://www.redfin.com/CA/Irvine/55-Strawberry-Grv-92620/home/112719655
- Significantly above asking. Winning bid probably around $960k. Other offer was selected because they were able to accommodate rent back until end of August which was highly preferred by sellers.

https://www.redfin.com/CA/Irvine/24-Sanctuary-92620/home/5959292
- Had verbal accepted offer but my buyers changed their mind due to "Feng Shui". Still available not in escrow yet.

https://www.redfin.com/CA/Irvine/67-Cliffwood-92602/home/5815436
- Above asking. We backed out during counters. Offer was much higher than I believe the home was worth because there was probably at least $100k+ worth of work that needed to be done. Accepted offer probably right around $1M.
« Last Edit: May 19, 2021, 03:34:41 PM by Cares »

Offline Sidehussle

  • Tourist
  • *
  • Thanks
  • -Given: 0
  • -Received: 9
  • Posts: 37
Re: Where the market is - Buyer Offers
« Reply #217 on: May 19, 2021, 07:17:07 PM »
Great perspective post!

Japan actually went through decades of depreciation, not inflation. Probably not the base case study if you're trying to demonstrate asset inflation.

The only things we are possibly tracking Japan, in terms of fiscal & monetary policy,  would be negative interest rate and blowing through the national debt.

Given the fact that we're already recovering, negative interest rate is unlikely to happen anytime soon.

So that leaves the national debt.

Japan has proven econ experts & conventional econ wisdom wrong for years by demonstrating that a large economy (#3 in the world) can sustain a high level of national debt even with virtually no GDP growth.  (over 250% debt to GDP ratio, negative GDP growth in the past decade)

This is on top of Japan having been on a steady population decline since 1998 & having one of the world's oldest population.

We don't have anywhere close to any of the above problems in the US.

Some people are freaking out over our national debt level, but the truth is we're barely over 100% debt to GDP ratio.

I think some proper context (Japan) should calm the anxiety.

Even though Japan has done QEs like we did, they spent a lot of their debt investing in infrastructures and its people. This is something we didn't do with our QEs.

If you look up various infrastructure scores and education scores, Japan has consistently ranked top in the developed world.

Their train and high speed rail systems are so top notch that approx. 85% of commuters in  Japan goes to work by Train. ( vs less than 5% in north America)

Austerity is unpopular and politically difficult. So yes, we're more likely to follow Japan's trajectory when it comes to the national debt.

Can we sustain Japan level of debt without investing in infrastructures, education etc is a valid question.

But to draw that parallel we are becoming Japan's economy is pre-mature. We have actual GDP growth, population growth, and the USD is still the global reserve currency.

The following member(s) thanked this post:


Offline USCTrojanCPA

  • Your CPA Realtor
  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 2611
  • -Received: 2102
  • Posts: 10299
  • Gender: Male
Re: Where the market is - Buyer Offers
« Reply #218 on: May 19, 2021, 07:57:57 PM »
Wrote offers for 3 other buyers for these 3 homes on Sunday...

https://www.redfin.com/CA/Irvine/59-Gray-Dove-92618/home/7215423

https://www.redfin.com/CA/Irvine/80-Hazelton-92620/home/58556413

https://www.redfin.com/CA/Irvine/29-Fulton-92620/home/4795209


My buyer submitted an initial offer of $1,141,000 on Fulton and here's the email I got from the listing agent (didn't even get a counter)...

Hi Martin,

Thank you kindly for your offer on our listing. Our seller received an offer late last night that was materially higher than all the offers received to date and decided to accept it on the spot.

We will be sure to communicate with you if any of that changes, and be sure to keep you as a back up.

All the best to you and good luck to your buyers,

Affie & Melody
Martin Mania, CPA
AgencyOne
CA BRE License # 01799007
CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!
Have license, will travel!

Offline USCTrojanCPA

  • Your CPA Realtor
  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 2611
  • -Received: 2102
  • Posts: 10299
  • Gender: Male
Re: Where the market is - Buyer Offers
« Reply #219 on: May 19, 2021, 07:59:01 PM »
I made offers on these 2 Woodbury homes for 2 difference buyers....

https://www.redfin.com/CA/Irvine/30-Gentry-92620/home/5958590

https://www.redfin.com/CA/Irvine/20-Gazebo-92620/home/5958697

No dice on Gentry as my buyer wasn't comfortable going higher than $1.72m.  Gazebo has 19 offers and we just got the best and final counter.
Martin Mania, CPA
AgencyOne
CA BRE License # 01799007
CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!
Have license, will travel!

Offline USCTrojanCPA

  • Your CPA Realtor
  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 2611
  • -Received: 2102
  • Posts: 10299
  • Gender: Male
Re: Where the market is - Buyer Offers
« Reply #220 on: May 19, 2021, 08:01:00 PM »
Put offers in on:

https://www.redfin.com/CA/Irvine/55-Strawberry-Grv-92620/home/112719655
- Significantly above asking. Winning bid probably around $960k. Other offer was selected because they were able to accommodate rent back until end of August which was highly preferred by sellers.

https://www.redfin.com/CA/Irvine/24-Sanctuary-92620/home/5959292
- Had verbal accepted offer but my buyers changed their mind due to "Feng Shui". Still available not in escrow yet.

https://www.redfin.com/CA/Irvine/67-Cliffwood-92602/home/5815436
- Above asking. We backed out during counters. Offer was much higher than I believe the home was worth because there was probably at least $100k+ worth of work that needed to be done. Accepted offer probably right around $1M.

I also showed Cliffwood to one of my buyers and after seeing it decided that it needed way too much work (location was good though).  Not heartbroken to see go into escrow.
Martin Mania, CPA
AgencyOne
CA BRE License # 01799007
CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!
Have license, will travel!

Offline woodburyowner

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 69
  • -Received: 158
  • Posts: 1066
Re: Where the market is - Buyer Offers
« Reply #221 on: May 19, 2021, 09:10:20 PM »
Here's an interesting question for the agents in this thread.  How do you handle the situation where you have multiple buyers interested in the same property?

Offline USCTrojanCPA

  • Your CPA Realtor
  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 2611
  • -Received: 2102
  • Posts: 10299
  • Gender: Male
Re: Where the market is - Buyer Offers
« Reply #222 on: May 20, 2021, 12:17:05 AM »
Here's an interesting question for the agents in this thread.  How do you handle the situation where you have multiple buyers interested in the same property?

I give them the same recommended bid range even if I have more than one buyer on the same home (x = minimum amount to have a change to y = top of the board and I'd don't advise going above this amount because it's an aggressive bid).  Luckily, I've only encountered that a handful of times the past 9 months. 
Martin Mania, CPA
AgencyOne
CA BRE License # 01799007
CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!
Have license, will travel!

Offline freedomcm

  • O.C. Resident
  • ***
  • Thanks
  • -Given: 482
  • -Received: 104
  • Posts: 713
Re: Where the market is - Buyer Offers
« Reply #223 on: May 20, 2021, 07:03:00 AM »
What was the Feng shui problem?

Put offers in on:

https://www.redfin.com/CA/Irvine/24-Sanctuary-92620/home/5959292
- Had verbal accepted offer but my buyers changed their mind due to "Feng Shui". Still available not in escrow yet.


Offline lnc

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 573
  • -Received: 1064
  • Posts: 3173
Re: Where the market is - Buyer Offers
« Reply #224 on: May 20, 2021, 07:12:49 AM »
What was the Feng shui problem?

Put offers in on:

https://www.redfin.com/CA/Irvine/24-Sanctuary-92620/home/5959292
- Had verbal accepted offer but my buyers changed their mind due to "Feng Shui". Still available not in escrow yet.


The dreaded 4 in the address number?

 

Talk Irvine Links

[Recent Posts]
[FAQ / Rules]

Site Supporters


Recent Posts

SimplePortal 2.3.7 © 2008-2021, SimplePortal