Author Topic: Where the market is - Buyer Offers  (Read 55173 times)

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Offline woodburyowner

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Re: Where the market is - Buyer Offers
« Reply #225 on: May 20, 2021, 08:47:09 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 stove in directly in front of not 1, but 2 kitchen faucets.  Definitely a no go. 

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Offline Cares

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Re: Where the market is - Buyer Offers
« Reply #226 on: May 20, 2021, 10:14:33 AM »
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.

Yea for Cliffwood I don't think it was worth much more than asking price due to the amount of work needed. We offered slightly above it. Counters came back at $1.05M or best offer. We declined to respond.

Cabinets off the hinges. All the flooring upstairs needed replacing. Bathrooms were in poor condition. For some reason none of the window screens were sized improperly that they were all taped onto the window with a 1 inch gap. I'm sure a proper inspection would find way more problems too seeing the care and condition the previous owners kept it in.

Offline Cares

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Re: Where the market is - Buyer Offers
« Reply #227 on: May 20, 2021, 02:58:40 PM »
https://www.ocregister.com/2021/05/08/orange-county-adds-8-million-dollar-zips-loses-8-bargain-neighborhoods/

This article is more in line with what I'm seeing in the front lines as a realtor and a mortgage loan originator. All OC markets have housing prices that are significantly up from a year ago.

Yup, prices are now about 15-20% up from last year not only in Irvine but outside of Irvine as well.

Continuing this topic about OC prices being up or not:

https://www.foxla.com/news/median-house-prices-surge-across-california-surpass-800000-statewide

"Orange County saw its median home price increase to $1,100,000 in April from $1,025,000 in March. It was $861,000 in April 2020."

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Offline USCTrojanCPA

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Re: Where the market is - Buyer Offers
« Reply #228 on: May 20, 2021, 03:03:11 PM »
https://www.ocregister.com/2021/05/08/orange-county-adds-8-million-dollar-zips-loses-8-bargain-neighborhoods/

This article is more in line with what I'm seeing in the front lines as a realtor and a mortgage loan originator. All OC markets have housing prices that are significantly up from a year ago.

Yup, prices are now about 15-20% up from last year not only in Irvine but outside of Irvine as well.

Continuing this topic about OC prices being up or not:

https://www.foxla.com/news/median-house-prices-surge-across-california-surpass-800000-statewide

"Orange County saw its median home price increase to $1,100,000 in April from $1,025,000 in March. It was $861,000 in April 2020."

Wonder if Liar Loan will be able to find an saying that prices are down or flat?  haha
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Re: Where the market is - Buyer Offers
« Reply #229 on: May 25, 2021, 11:32:27 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


No luck on 80 Hazelton, submitted an initial offer of $1,701,000 no appraisal and loan contingency while removing all contingencies in 10 days.  Seller responded with a multiple counter to 5 total buyer asking for a price of $1,706,000 and my buyer responded with a price of $1,710,100 but I guess that was not high enough.

Even worse on 59 Gray Dove, submitted an initial offer of $1,801,000 no appraisal and loan contingency while removing all contingencies in 10 days.  Didn't even get a counter and it just went straight into escrow.
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Offline USCTrojanCPA

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Re: Where the market is - Buyer Offers
« Reply #230 on: May 25, 2021, 11:32:54 PM »
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Offline Cares

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Re: Where the market is - Buyer Offers
« Reply #233 on: May 26, 2021, 04:43:44 PM »
That is brutal competition.

Brutal is an understatement. Extremely tough for buyers, even if you're all-cash.
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Offline Cares

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Re: Where the market is - Buyer Offers
« Reply #234 on: May 27, 2021, 04:54:30 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.

What's the deal with Gazebo? My buyers wanted to make an offer but they told me off the bat they aren't looking at offers under $1.75M. But they still aren't in escrow yet.

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Re: Where the market is - Buyer Offers
« Reply #235 on: May 27, 2021, 04:59:45 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.

What's the deal with Gazebo? My buyers wanted to make an offer but they told me off the bat they aren't looking at offers under $1.75M. But they still aren't in escrow yet.

They are playing games and my buyer is over it so we've moved on.  If they think they'll get $1.75m they are smoking crack, the home needs upgrading.
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Offline sunflower

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Re: Where the market is - Buyer Offers
« Reply #236 on: May 27, 2021, 07:32:29 PM »
I saw that house for sell in 2018 asking for 1.7M, thought the seller was crazy back then..

What's the deal with Gazebo? My buyers wanted to make an offer but they told me off the bat they aren't looking at offers under $1.75M. But they still aren't in escrow yet.
[/quote]

They are playing games and my buyer is over it so we've moved on.  If they think they'll get $1.75m they are smoking crack, the home needs upgrading.
[/quote]

Offline Cares

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Re: Where the market is - Buyer Offers
« Reply #237 on: May 27, 2021, 10:27:58 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.

What's the deal with Gazebo? My buyers wanted to make an offer but they told me off the bat they aren't looking at offers under $1.75M. But they still aren't in escrow yet.

They are playing games and my buyer is over it so we've moved on.  If they think they'll get $1.75m they are smoking crack, the home needs upgrading.

I texted the agent again today asking because my buyer is interested. And the reply was "Are you going to offer at least $1.75M?" LOL, I'm of the same sentiment, no way is my buyer going to offer that much.

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Offline USCTrojanCPA

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Re: Where the market is - Buyer Offers
« Reply #239 on: May 28, 2021, 12:07:58 AM »
Made an offer on these 2 homes for 2 of my buyers the past few days....

https://www.redfin.com/CA/Irvine/165-Church-Pl-92602/home/4793123

https://www.redfin.com/CA/Yorba-Linda/17091-Regulus-Dr-92886/home/4172607

Haha made an offer on Church as well.

Also offered these:
https://www.redfin.com/CA/Irvine/132-Firefly-92618/home/112729429

https://www.redfin.com/CA/Irvine/23-Shellbark-92618/home/39976841

https://www.redfin.com/CA/Tustin/2604-Brand-Dr-92782/home/4774435

Just got the email from the listing agent on Church...no counter even though my client offered $1.025m.  Did your buyer get it?

We did not get a counter and bid around the same. They are contingent buyers though so I expect it to be quite tough until their home sale closes.

 

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