Author Topic: Where the market is - Buyer Offers  (Read 57464 times)

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Offline Cornflakes

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Re: Where the market is - Buyer Offers
« Reply #45 on: March 26, 2021, 09:47:32 PM »
I should have added that I'm a guy. Typically thats the attitude you can expect in the OC dating scene ;D haha
It somewhat makes sense to me though; you've got teenagers driving down Jamboree in Lamborghinis, why would a girl be interested in a 25yr old guy living at home haha. My friends that still live with their parents have had the same experience...

Literally everyone I knew in my 20s rented an apartment. As long as you're not doing something dumb like renting a $4k amenity building unit, you should be fine.

Honestly, I went on a shitton of dates while still living in a jr 1bd apt in Irvine and driving a Honda Accord just fine. I definitely was making less money than you. Right before I met my future wife, I was online dating like crazy, like 6+ dates/wk.

I think you gotta ignore all this conspicuous consumption.

If you are really fixated on buying a home, you should consider a smaller property in the area (e.g. Keller Dr in Tustin Ranch) or moving to a lower cost area.

Went on 6 dates per week?  Dang, you were really working it online.  haha

If he paid for all those dinners and movies, then the stats on the NAR report checks out... ;)

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Offline USCTrojanCPA

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Re: Where the market is - Buyer Offers
« Reply #46 on: March 27, 2021, 08:04:32 PM »
Made an offer over list on this Montecito Plan 2 home in Woodbury earlier today...

https://www.redfin.com/CA/Irvine/32-Marblehead-92620/home/28931918

Agent said they have multiple offers (big shocker) and will be reviewing them with the seller on Sunday night.
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Offline CLB_srA

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Re: Where the market is - Buyer Offers
« Reply #47 on: March 28, 2021, 12:37:45 PM »
I'm curious to know what type of jobs does everyone here have where you can afford a multi-million dollar home.

It's family $ and overseas China FCB $ ...   I'm sure there are families where both earners are doctors, lawyers, small business owners, in finance (PMs, senior mgmt), engineers/programmers, or a combination of any of those.  I'm sure there are niche jobs that make a lot of $ too.   I'm poor thinking about it now.

I remember someone who submitted their app on our rental, they made ~$170k as mid lvl mgmt at the Taco Bell, that's just one of them.
The majority of buyers are age 22-40. I would love to see metrics of income for OC. The nationwide metrics specify that households are earning 100-113k. But that doesn't seem realistic with California prices.

Im 25 and just hit 6 figures at work, but still finding it impossible to find a property. Im single (so not dual income), maybe thats why? It feels like I'm going in circles; can't find a partner while living with my parents, but can't afford a reasonable house without a dual income  :-\

I was there before. Timing is everything and your time will come.

I happened to buy my first property at 25. It was a Bay Area condo that was built in 2010 - they were unable to sell the units so they rented them out. When the market got healthier, they started to sell the condos as leases expired. I was able to buy a 2-bd unit for $495,000. Lived there for a few years - unable to find a compatible partner and just living the ups/downs of single life. I eventually sold the unit and flipped a nice profit. Moved down to Irvine and bought a brand new condo in Eastwood. Dated a bit and was married within 2 years and had a kid a year later. With our dual income, we were able to buy a nice place here in Irvine that we both love.

My suggestions:

1. Save your money and don't be afraid to take safe risks. If you've saved up 20% - I say go for it and buy a place. If you haven't hit that threshold, save a little more. Get a cheaper condo here in OC and build some equity. Maybe something like this: https://www.redfin.com/CA/Tustin/1722-Mitchell-Ave-92780/unit-179/home/4617570
2. Invest in yourself - whether it's educational courses, self-improvement books, living a healthier lifestyle...whatever it is, utilize this time to groom healthy habits that will help you sustain yourself once you do find a partner and settle down.
3. Set short and long-term goals and milestones in your career and personal life and work towards those. Keep a journal - it's often the journey that's more enjoyable than the actual reward.

Wow that's a really nice interior good find.

Offline ThirtySomethingWEquity

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Re: Where the market is - Buyer Offers
« Reply #48 on: March 28, 2021, 03:31:23 PM »
I'm curious to know what type of jobs does everyone here have where you can afford a multi-million dollar home.

It's family $ and overseas China FCB $ ...   I'm sure there are families where both earners are doctors, lawyers, small business owners, in finance (PMs, senior mgmt), engineers/programmers, or a combination of any of those.  I'm sure there are niche jobs that make a lot of $ too.   I'm poor thinking about it now.

I remember someone who submitted their app on our rental, they made ~$170k as mid lvl mgmt at the Taco Bell, that's just one of them.
The majority of buyers are age 22-40. I would love to see metrics of income for OC. The nationwide metrics specify that households are earning 100-113k. But that doesn't seem realistic with California prices.

Im 25 and just hit 6 figures at work, but still finding it impossible to find a property. Im single (so not dual income), maybe thats why? It feels like I'm going in circles; can't find a partner while living with my parents, but can't afford a reasonable house without a dual income  :-\

Rent a room.  It's a lot easier to find roommates when you're in your 20s than in your 30s, so take advantage of this stage of your life to get some freedom and still save a boatload of money.  Remember if you move into a new place you need to buy TV, furniture, kitchen stuff, could be  another 10-20k if you don't want hand me downs and depending on how big of a place.

When I was in my early twenties I moved in with two guys who owned a big house in Irvine, they each had their girlfriends living with them.  I got to meat a lot of people through them, the main downside was dealing iwth noise, but earplugs are cheap.  Did that for a few years, saved a boatload of money, bought a townhouse in 2009 in my late twenties, and that was a good purchase. :)

Offline crownedking

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Re: Where the market is - Buyer Offers
« Reply #49 on: March 28, 2021, 07:16:36 PM »
I'm curious to know what type of jobs does everyone here have where you can afford a multi-million dollar home.

It's family $ and overseas China FCB $ ...   I'm sure there are families where both earners are doctors, lawyers, small business owners, in finance (PMs, senior mgmt), engineers/programmers, or a combination of any of those.  I'm sure there are niche jobs that make a lot of $ too.   I'm poor thinking about it now.

I remember someone who submitted their app on our rental, they made ~$170k as mid lvl mgmt at the Taco Bell, that's just one of them.
The majority of buyers are age 22-40. I would love to see metrics of income for OC. The nationwide metrics specify that households are earning 100-113k. But that doesn't seem realistic with California prices.

Im 25 and just hit 6 figures at work, but still finding it impossible to find a property. Im single (so not dual income), maybe thats why? It feels like I'm going in circles; can't find a partner while living with my parents, but can't afford a reasonable house without a dual income  :-\

I was there before. Timing is everything and your time will come.

I happened to buy my first property at 25. It was a Bay Area condo that was built in 2010 - they were unable to sell the units so they rented them out. When the market got healthier, they started to sell the condos as leases expired. I was able to buy a 2-bd unit for $495,000. Lived there for a few years - unable to find a compatible partner and just living the ups/downs of single life. I eventually sold the unit and flipped a nice profit. Moved down to Irvine and bought a brand new condo in Eastwood. Dated a bit and was married within 2 years and had a kid a year later. With our dual income, we were able to buy a nice place here in Irvine that we both love.

My suggestions:

1. Save your money and don't be afraid to take safe risks. If you've saved up 20% - I say go for it and buy a place. If you haven't hit that threshold, save a little more. Get a cheaper condo here in OC and build some equity. Maybe something like this: https://www.redfin.com/CA/Tustin/1722-Mitchell-Ave-92780/unit-179/home/4617570
2. Invest in yourself - whether it's educational courses, self-improvement books, living a healthier lifestyle...whatever it is, utilize this time to groom healthy habits that will help you sustain yourself once you do find a partner and settle down.
3. Set short and long-term goals and milestones in your career and personal life and work towards those. Keep a journal - it's often the journey that's more enjoyable than the actual reward.

Wow that's a really nice interior good find.

I totally agree! great interior; now to find a place with that look outside as-well  ;D (or am I asking for too much LOL)

Offline USCTrojanCPA

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Re: Where the market is - Buyer Offers
« Reply #50 on: March 28, 2021, 08:35:31 PM »
Martin Mania, CPA
AgencyOne
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CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

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Have license, will travel!

Offline moc

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Re: Where the market is - Buyer Offers
« Reply #51 on: March 29, 2021, 10:44:28 AM »
I'm curious to know what type of jobs does everyone here have where you can afford a multi-million dollar home.

It's family $ and overseas China FCB $ ...   I'm sure there are families where both earners are doctors, lawyers, small business owners, in finance (PMs, senior mgmt), engineers/programmers, or a combination of any of those.  I'm sure there are niche jobs that make a lot of $ too.   I'm poor thinking about it now.

I remember someone who submitted their app on our rental, they made ~$170k as mid lvl mgmt at the Taco Bell, that's just one of them.
The majority of buyers are age 22-40. I would love to see metrics of income for OC. The nationwide metrics specify that households are earning 100-113k. But that doesn't seem realistic with California prices.

Im 25 and just hit 6 figures at work, but still finding it impossible to find a property. Im single (so not dual income), maybe thats why? It feels like I'm going in circles; can't find a partner while living with my parents, but can't afford a reasonable house without a dual income  :-\

Crowned king - having a dual income does help, I would not have been able to afford to purchase our home with just my salary. But, I will say we felt the same at 25 - looked around at the housing market and it felt like an impossible task to buy. We moved to a cheaper place(rental), took a hard look at our spending, made savings goals, bought a cheap car etc etc etc. We bought our first home when we were 28 (we are 29 now so this is recent lol). I know it feels impossible but a lot can change in just a few years. It is easier with a partner but you can probably achieve it on your own. Keep your head up and don't lose hope.

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Re: Where the market is - Buyer Offers
« Reply #52 on: March 29, 2021, 10:54:43 AM »
I read that person post and I laughed.
If the person wanted a house that person can most likely buy one. But maybe not in Irvine.
How is it our fault that you are not married? I do not think no one here is going to hook you up.




Offline ucla bruin

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Re: Where the market is - Buyer Offers
« Reply #53 on: March 29, 2021, 12:37:11 PM »
That's interesting you took it as that.

I didn't read it as him blaming the world, just sharing his sentiments and challenges of having goals vs meeting them.

Crowned King - keep doing what you're doing. 6 figures by 25 is already an achievement. Renting a room as opposed to a single apt definitely helps. I did that for many years when I was still single. Save wherever you can. Invest your money. Chart your growth and see if it's on track, make adjustments.

Evaluate your expectations too. Your first house doesn't need to be a multi-million dollar home.

Offline Mety

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Re: Where the market is - Buyer Offers
« Reply #54 on: March 29, 2021, 02:01:39 PM »
Those who are looking to buy a home, what's your budget?

Offline crownedking

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Re: Where the market is - Buyer Offers
« Reply #55 on: March 29, 2021, 03:06:44 PM »
Those who are looking to buy a home, what's your budget?

looking for a newer 1 or 2 bed townhome, around the low 500's

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Re: Where the market is - Buyer Offers
« Reply #56 on: March 29, 2021, 03:26:54 PM »
Those who are looking to buy a home, what's your budget?

1. So I guess you are going to hook him or her up with a partner.
2. Help that person move out of the parent house.
3. Help search for a newer place.

You got this bro.  ;)
« Last Edit: March 29, 2021, 04:01:55 PM by eyephone »

Offline Mety

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Re: Where the market is - Buyer Offers
« Reply #57 on: March 29, 2021, 04:34:10 PM »
Those who are looking to buy a home, what's your budget?

looking for a newer 1 or 2 bed townhome, around the low 500's

That's tough in Irvine especially if you want a "newer." Stonegate East or Woodbury East will sometimes have 1bed-plus-den with that price range so stay tuned.

Offline Soylent Green Is People

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Re: Where the market is - Buyer Offers
« Reply #58 on: March 29, 2021, 05:15:43 PM »
Crowned King - I'm curious why Irvine only, when there aren't kids (schooling) or really commute issues at play here. Is this more or less a MAX ROI question or something else not yet noted? Everyone has their reasons for buying in Irvine - all of them are legitimate and personal - but as a mid 20's single person if equity appreciation wasn't at the top of my list, I'd probably buy reasonably close at a lower price point.

What is behind the drive to buy in this red hot location specific market versus 1-3 miles outside of Irvine - if you care to share please.
My .02c

SGIP

Offline talkirvine

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Re: Where the market is - Buyer Offers
« Reply #59 on: March 29, 2021, 05:30:12 PM »
Those who are looking to buy a home, what's your budget?

If I were you, I would buy in Ontario/Eastvale. You can get a 3-4 bedroom brand new detached condo with that price. The price has increased a lot over the last year and it still has the potential to increase. With less than $200/sqft, you can not beat that price any where in Orange county.

 

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