Author Topic: Where the market is - Buyer Offers  (Read 25653 times)

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Offline talkirvine

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Re: Where the market is - Buyer Offers
« Reply #255 on: June 07, 2021, 11:26:12 AM »
Put offers on these two homes this week...

This was for my myself, I put in an offer of $2,205,000 and I was the highest offer until they got a last minute offer at $2,230,000 came in 2 hours before the offer deadline and I'm the first back-up buyer.  Home was being sold "as-is" with no repairs and no termite repairs.  I was going back and forth on whether to offer $2,250,000 or not but the home needs a full gut remodel so I opted for $2,205,000 instead.  The search continues for me.

https://www.redfin.com/CA/Irvine/5722-Kingsford-Ter-92603/home/4741419

For one of my clients, I put a full priced offer on this Eastwood detached condo and we signed the seller counter today so we'll be opening escrow on Monday.

https://www.redfin.com/CA/Irvine/52-Gust-92602/home/143912144

Wow, very brave to be a buyer in today's market. What makes you decide to buy in today's market, which we all know is a seller's market. Don't you want to wait until the market cools down? I am just curious to know.

It's more of an issue for me finding the right unicorn home (single-story with a 3-car garage that has a larger lot in Irvine) and those homes ust don't come to market very often. The next home that I do purchase I plan on living there longer term home so I'm not overly concerned if we get a correction in pricing because I'm buying within my means. I honestly don't believe that you'll see much of a correction, if any, as this feels more like 2013 than 2006.

I remember you are going to have landscaping done on your current house. How is that going? If you buy a house now, won't that landscaping be for next owner's benefit?

Offline Sidehussle

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Re: Where the market is - Buyer Offers
« Reply #256 on: June 07, 2021, 03:43:51 PM »
Put offers on these two homes this week...

This was for my myself, I put in an offer of $2,205,000 and I was the highest offer until they got a last minute offer at $2,230,000 came in 2 hours before the offer deadline and I'm the first back-up buyer.  Home was being sold "as-is" with no repairs and no termite repairs.  I was going back and forth on whether to offer $2,250,000 or not but the home needs a full gut remodel so I opted for $2,205,000 instead.  The search continues for me.

https://www.redfin.com/CA/Irvine/5722-Kingsford-Ter-92603/home/4741419

For one of my clients, I put a full priced offer on this Eastwood detached condo and we signed the seller counter today so we'll be opening escrow on Monday.

https://www.redfin.com/CA/Irvine/52-Gust-92602/home/143912144

Man that's tough w/bid coming in 2 hours before offer deadline. reminds me of my many failed ebay bidding attempts but those were for small camera parts purchases, not $2M plus homes!

Offline zubs

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Re: Where the market is - Buyer Offers
« Reply #257 on: June 09, 2021, 02:38:56 PM »
King crab legs @ Costco is $33.99/ LB now.
It was $28.99/LB in JAN.
It was $19.99/LB in 2010.

That is some bullshit.  >:(

I'm getting priced out of crab faster than I am Orange County real estate!

To be fair,

CA min wage:
2010 ~ $8.00/hour
2021 ~ $14.00/hour
75% increase in wages!

King Crab legs only went up 70%...so we are copacetic.

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Offline USCTrojanCPA

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Re: Where the market is - Buyer Offers
« Reply #258 on: June 10, 2021, 10:45:28 PM »
Martin Mania, CPA
AgencyOne
CA BRE License # 01799007
CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!

Offline USCTrojanCPA

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Re: Where the market is - Buyer Offers
« Reply #259 on: Yesterday at 10:18:20 PM »
Made offers and submitted best & final counters on these 2 homes for 2 buyers...

https://www.redfin.com/CA/Irvine/15-Alba-W-92620/home/4785616

https://www.redfin.com/CA/Irvine/102-Catalonia-92618/home/58551980

My 15 Alba buyer didn't get it despite going up to $1,241,000 using an escalation clause. 
Martin Mania, CPA
AgencyOne
CA BRE License # 01799007
CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!

Offline Ready2Downsize

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Re: Where the market is - Buyer Offers
« Reply #260 on: Today at 10:32:24 AM »
Made offers and submitted best & final counters on these 2 homes for 2 buyers...

https://www.redfin.com/CA/Irvine/15-Alba-W-92620/home/4785616

https://www.redfin.com/CA/Irvine/102-Catalonia-92618/home/58551980

My 15 Alba buyer didn't get it despite going up to $1,241,000 using an escalation clause.

Is an escalation clause something like we will match or beat by x the best offer up to y amt?

Offline Ready2Downsize

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Re: Where the market is - Buyer Offers
« Reply #261 on: Today at 10:47:10 AM »
Put offers on these two homes this week...

This was for my myself, I put in an offer of $2,205,000 and I was the highest offer until they got a last minute offer at $2,230,000 came in 2 hours before the offer deadline and I'm the first back-up buyer.  Home was being sold "as-is" with no repairs and no termite repairs.  I was going back and forth on whether to offer $2,250,000 or not but the home needs a full gut remodel so I opted for $2,205,000 instead.  The search continues for me.

https://www.redfin.com/CA/Irvine/5722-Kingsford-Ter-92603/home/4741419

For one of my clients, I put a full priced offer on this Eastwood detached condo and we signed the seller counter today so we'll be opening escrow on Monday.

https://www.redfin.com/CA/Irvine/52-Gust-92602/home/143912144

Man that's tough w/bid coming in 2 hours before offer deadline. reminds me of my many failed ebay bidding attempts but those were for small camera parts purchases, not $2M plus homes!

Are FCB in the equation here? I mean in general, not just for this home.
« Last Edit: Today at 11:18:50 AM by Ready2Downsize »

Offline akula1488

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Re: Where the market is - Buyer Offers
« Reply #262 on: Today at 12:36:18 PM »
Made offers and submitted best & final counters on these 2 homes for 2 buyers...

https://www.redfin.com/CA/Irvine/15-Alba-W-92620/home/4785616

https://www.redfin.com/CA/Irvine/102-Catalonia-92618/home/58551980

My 15 Alba buyer didn't get it despite going up to $1,241,000 using an escalation clause.

Is an escalation clause something like we will match or beat by x the best offer up to y amt?

Initial offer X, will beat the other best bona fide offer by Y amount up to Z. Usually ask seller to show proof of the bona fide offer.
However, unethical sellers or agents can easily create these bona fide offers to force escalation to maximum. So might as well as offer maximum without escalation clause.

Unless you want to do a escalation clause with all cash and without cap, waive all contingencies. Then you are very likely to win.

 

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