Author Topic: Where the market is - Buyer Offers  (Read 57501 times)

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Offline OCtoSV

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Re: Where the market is - Buyer Offers
« Reply #390 on: September 23, 2021, 12:22:11 PM »
Made offers on the following 5 Irvine homes this week for a few buyers, let's see if I get any of them...

https://www.redfin.com/CA/Irvine/124-Toretta-92602/home/169487135

https://www.redfin.com/CA/Irvine/142-Follyhatch-92618/home/143915060

https://www.redfin.com/CA/Irvine/183-Quiet-Grv-92618/home/167154487

https://www.redfin.com/CA/Irvine/225-Bright-Poppy-92618/home/113145789

https://www.redfin.com/CA/Irvine/177-Stellar-92618/home/167401663

Quick update...

Got the Toretta home and the Follyhatch home for my buyers....waiting on counters for the other 3.  I was told Quiet Grove got 48 offers and they are over $1.1m on price now.

No dice on Quiet Grove and Bright Poppy.  For Quiet Grove, I submitted an offer of $1,061,000, but they got 48 offers and the top offers were in the $1.1s which was too steep for my buyer so we passed.  For Bright Poppy, I submitted an offer of $1,201,000 but they got 16 offers and did not counter anyone by moving forward with the top buyer over $1.2m.  Still waiting on Stellar.

These properties are all pretty nice and from a SV perspective CHEAP, especially considering how nice Irvine is. $1M gets crap in my area, which is nice but far from the ritziest:
https://www.zillow.com/homedetails/1108-Trevino-Ter-San-Jose-CA-95120/2069564149_zpid/

OC buyers are lucky to have such a steady stream of inventory to choose from in the sub-$1.5M market.

Yeah, I've heard there's a lot of NorCal folks moving down to Orange County, including Irvine, which seems to be driving prices higher.  Btw, didn't get a counter on Stellar after making an offer of $1,011,000 and they just went into escrow.  Getting 2 out of 5 offers accepted is pretty good in this market.  haha
Great work Martin. It's great to see your enterprise flourishing.

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Offline USCTrojanCPA

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Re: Where the market is - Buyer Offers
« Reply #391 on: September 23, 2021, 10:10:37 PM »
Made offers on the following 5 Irvine homes this week for a few buyers, let's see if I get any of them...

https://www.redfin.com/CA/Irvine/124-Toretta-92602/home/169487135

https://www.redfin.com/CA/Irvine/142-Follyhatch-92618/home/143915060

https://www.redfin.com/CA/Irvine/183-Quiet-Grv-92618/home/167154487

https://www.redfin.com/CA/Irvine/225-Bright-Poppy-92618/home/113145789

https://www.redfin.com/CA/Irvine/177-Stellar-92618/home/167401663

Quick update...

Got the Toretta home and the Follyhatch home for my buyers....waiting on counters for the other 3.  I was told Quiet Grove got 48 offers and they are over $1.1m on price now.

No dice on Quiet Grove and Bright Poppy.  For Quiet Grove, I submitted an offer of $1,061,000, but they got 48 offers and the top offers were in the $1.1s which was too steep for my buyer so we passed.  For Bright Poppy, I submitted an offer of $1,201,000 but they got 16 offers and did not counter anyone by moving forward with the top buyer over $1.2m.  Still waiting on Stellar.

These properties are all pretty nice and from a SV perspective CHEAP, especially considering how nice Irvine is. $1M gets crap in my area, which is nice but far from the ritziest:
https://www.zillow.com/homedetails/1108-Trevino-Ter-San-Jose-CA-95120/2069564149_zpid/

OC buyers are lucky to have such a steady stream of inventory to choose from in the sub-$1.5M market.

Yeah, I've heard there's a lot of NorCal folks moving down to Orange County, including Irvine, which seems to be driving prices higher.  Btw, didn't get a counter on Stellar after making an offer of $1,011,000 and they just went into escrow.  Getting 2 out of 5 offers accepted is pretty good in this market.  haha
Great work Martin. It's great to see your enterprise flourishing.

Thank you, it does help to have very strong buyers who follow my recommendations on offer term strategies.
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Offline wonderboy

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Re: Where the market is - Buyer Offers
« Reply #392 on: September 23, 2021, 11:29:36 PM »
where I am currently at, I get the same good school system as IUSD, same or even better close to ocean climate as Irvine, but cheaper by 33% in housing price surrounded by beautiful natural topography vs the very artificial feel of Irvine that 90% is on flat land.

What city are you in again?  ???

Offline OCtoSV

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Re: Where the market is - Buyer Offers
« Reply #393 on: September 24, 2021, 10:44:17 AM »
where I am currently at, I get the same good school system as IUSD, same or even better close to ocean climate as Irvine, but cheaper by 33% in housing price surrounded by beautiful natural topography vs the very artificial feel of Irvine that 90% is on flat land.

What city are you in again?  ???
Must be John's Creek

Offline Goriot

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Re: Where the market is - Buyer Offers
« Reply #394 on: September 24, 2021, 02:50:05 PM »
Talk about a <1 month quick flip on a pricey home.  With leverage, high ROI in a month.  Rich gets richer.

https://www.redfin.com/CA/Irvine/110-Heavenly-92602/home/112721738

Offline The California Court Company

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Re: Where the market is - Buyer Offers
« Reply #395 on: September 24, 2021, 02:54:48 PM »
where I am currently at, I get the same good school system as IUSD, same or even better close to ocean climate as Irvine, but cheaper by 33% in housing price surrounded by beautiful natural topography vs the very artificial feel of Irvine that 90% is on flat land.

What city are you in again?  ???
Must be John's Creek
Johns Creek is 4-5 hours away from the closest beach. Maybe one day after climate change it will be closer
"Should any Person come into contact with such fruit, soil or groundwater, such Person is advised to wash thoroughly with soap and water and seek immediate medical attention"-Augusta Disclosure, Tustin Legacy

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Offline Irvinehomeseeker

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Re: Where the market is - Buyer Offers
« Reply #396 on: September 24, 2021, 06:23:55 PM »
Talk about a <1 month quick flip on a pricey home.  With leverage, high ROI in a month.  Rich gets richer.

https://www.redfin.com/CA/Irvine/110-Heavenly-92602/home/112721738

WOW 650K more in one month and under contract!! I guess folks from up north with the tech company salaries buying up irvine and OC housing stock.

Offline fatduck

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Re: Where the market is - Buyer Offers
« Reply #397 on: September 24, 2021, 08:15:36 PM »
2m in 2018 to 4.3m in 2021 is not bad ROI either

But the real winner is the listing agent who did both the 4.3m sale a month ago and the current listing

Offline sleepy5136

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Re: Where the market is - Buyer Offers
« Reply #398 on: September 24, 2021, 08:53:00 PM »
2m in 2018 to 4.3m in 2021 is not bad ROI either

But the real winner is the listing agent who did both the 4.3m sale a month ago and the current listing
agree. the commission generated from one sale is already higher than the average households annual salary. This was done in one transaction.

Offline USCTrojanCPA

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Re: Where the market is - Buyer Offers
« Reply #399 on: September 25, 2021, 10:43:07 PM »
Made an offer on this underpriced home for a buyer today...

https://www.redfin.com/CA/Irvine/5-Olinda-92602/home/5771809
Martin Mania, CPA
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Offline aquabliss

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Re: Where the market is - Buyer Offers
« Reply #400 on: September 25, 2021, 11:40:28 PM »
Pavilion Park currently has zero true SFH on market.  2 SFH just went pending and the 2 other detached condos are pending.  Only one detached condo available just went on the market Thursday, but no SFH.

Never seen this happen before, crazy times.

Offline Irvinehomeseeker

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Re: Where the market is - Buyer Offers
« Reply #401 on: September 26, 2021, 10:00:40 AM »
Sometimes you wonder if the buyers finally say quits when prices reach so high...both existing and new homes have risen like 75-100K on average in Irvine in just 3 months. Even if financing its like 400-500$ more per month. And there are hardly any homes on the market, yet ppl keep bidding up.
 Is the thought process like bid up and buy now or miss the boat forever?
And how are buyers stretching their budgets? I can understand buyers from northern CA with tech salaries able to afford but wonder about ppl from OC being able to compete.

Offline sleepy5136

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Re: Where the market is - Buyer Offers
« Reply #402 on: September 26, 2021, 03:35:51 PM »
Sometimes you wonder if the buyers finally say quits when prices reach so high...both existing and new homes have risen like 75-100K on average in Irvine in just 3 months. Even if financing its like 400-500$ more per month. And there are hardly any homes on the market, yet ppl keep bidding up.
 Is the thought process like bid up and buy now or miss the boat forever?
And how are buyers stretching their budgets? I can understand buyers from northern CA with tech salaries able to afford but wonder about ppl from OC being able to compete.
There is a TON of money and wealth being built due to COVID if you aren't in the bottom half of the income ladder. The stock market itself is already a great example and if you already have a home, your home already appreciated enough to be able to afford the higher payments. There is also a ton of overseas money coming in as foreign investors are putting their money into something more stable which would be US real estate. Now that US has opened its borders to international travelers, you may see a tick up in foreign investors in the housing market. You also have a bunch of parents helping their kids with the down payments as well.

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Offline zubs

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Re: Where the market is - Buyer Offers
« Reply #403 on: September 26, 2021, 09:43:39 PM »
After refinancing some properties due to the low interest rates in the past year, I'm paying $1100 less/month to the bank.
I'm sure lots of people have seen their mortgage payments drop in the past year....

There's only so much hookers n blow one can do before it gets tiresome.....Guess I'll stick it in the stock market like everyone else...or buy another house?

Offline Compressed-Village

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Re: Where the market is - Buyer Offers
« Reply #404 on: September 28, 2021, 09:01:21 AM »
The way I pursues any investment is to never chase ANYTHING that is over leverage, overly hyped and peaked. My top, is different from other top, compare with a person coming from high cost area else where. Of course, if life change events occur, you will need to do what you need to do regardless.

 

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