Poll

Where will Irvine housing prices be in one year?

Down over 50%
0 (0%)
Down 20%
19 (13.3%)
Down 10%
39 (27.3%)
Down 5%
30 (21%)
Flat
35 (24.5%)
Up 5%
15 (10.5%)
Up 10%
5 (3.5%)
Up 20%
0 (0%)
Up over 50%
0 (0%)
Other (please specify in post)
0 (0%)

Total Members Voted: 102

Voting closes: August 20, 2022, 12:55:13 PM

Author Topic: Poll: Irvine Housing Prediction June 2022  (Read 12367 times)

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Offline USCTrojanCPA

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Re: Poll: Irvine Housing Prediction June 2022
« Reply #105 on: August 01, 2022, 12:43:03 PM »
OMFG - 361 SFRs/condos/townhomes for sale in Irvine under $2M. Tick tick boom!

Just to give some perspective, we had 1,059 active listings at the end of July 2019 and today we have 482 active listings at the end of July 2022.  Historically inventory levels tend to peak out in July/August and start falling once we get past Labor Day.

how much has the median risen since July 2019? I'm guessing a lot.

The median price per SF at the end of July 2019 was $476 and at the end of July 2022 it was $691 or up 45%.
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Offline irvinehomeowner

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Re: Poll: Irvine Housing Prediction June 2022
« Reply #106 on: August 01, 2022, 12:46:34 PM »
OMFG - 361 SFRs/condos/townhomes for sale in Irvine under $2M. Tick tick boom!

Just to give some perspective, we had 1,059 active listings at the end of July 2019 and today we have 482 active listings at the end of July 2022.  Historically inventory levels tend to peak out in July/August and start falling once we get past Labor Day.

how much has the median risen since July 2019? I'm guessing a lot.

The median price per SF at the end of July 2019 was $476 and at the end of July 2022 it was $691 or up 45%.

Didn't Liar Loan predict that? Oh wait... the opposite. I think his credibility dropped 45%. :)
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Offline Ready2Downsize

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Re: Poll: Irvine Housing Prediction June 2022
« Reply #107 on: August 01, 2022, 01:45:58 PM »
10 year bond still falling......... towards 2.5 and then towards 2. If you want a house now is the time to try to strong arm a seller into lowering the price if you can. Negotiate the longest time frame u can get for inspections. If the yield keeps falling bet you'll end up with a sweet deal.

Offline Liar Loan

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Re: Poll: Irvine Housing Prediction June 2022
« Reply #108 on: August 01, 2022, 02:04:31 PM »
I've always had that caveat about the homes I was looking at because I was actively shopping from 2008 on... find the post where I applied to ALL. You can't.

This is just more lies from you because you are absolutely wrong here.

And you didn't bust anything... it was meccos12 who asked for clarity on what homes I was shopping that I only saw a 15-20% drop so I pointed him to that thread.

Quote
Not a single poster took your side.

Wrong again. There were other posters who also did not observe a 40%+ drop in homes they were looking at, I even have a thread asking if anyone realized such a large discount from the 06-10 drop. And are you ignoring USC's post above that I've quoted twice now?

Sorry Liar... just like in 2018-19... you can't get anything right.

meccos12 had nothing to do with the discussion where we collectively debunked the 15% myth.  This means you are remembering the wrong thread.  LOL...

Offline irvinehomeowner

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Re: Poll: Irvine Housing Prediction June 2022
« Reply #109 on: August 01, 2022, 02:40:29 PM »
I've always had that caveat about the homes I was looking at because I was actively shopping from 2008 on... find the post where I applied to ALL. You can't.

This is just more lies from you because you are absolutely wrong here.

And you didn't bust anything... it was meccos12 who asked for clarity on what homes I was shopping that I only saw a 15-20% drop so I pointed him to that thread.

Quote
Not a single poster took your side.

Wrong again. There were other posters who also did not observe a 40%+ drop in homes they were looking at, I even have a thread asking if anyone realized such a large discount from the 06-10 drop. And are you ignoring USC's post above that I've quoted twice now?

Sorry Liar... just like in 2018-19... you can't get anything right.

meccos12 had nothing to do with the discussion where we collectively debunked the 15% myth.  This means you are remembering the wrong thread.  LOL...

You can’t even find a single post to support your lies.

Want to bet that most SFR buyers paid closer to a 15% discount than a 40% one? You keep glomming on to 28% but I can claim you were in the 40%+ camp with Larry.
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Offline Liar Loan

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Re: Poll: Irvine Housing Prediction June 2022
« Reply #110 on: August 01, 2022, 03:39:17 PM »
I've always had that caveat about the homes I was looking at because I was actively shopping from 2008 on... find the post where I applied to ALL. You can't.

This is just more lies from you because you are absolutely wrong here.

And you didn't bust anything... it was meccos12 who asked for clarity on what homes I was shopping that I only saw a 15-20% drop so I pointed him to that thread.

Quote
Not a single poster took your side.

Wrong again. There were other posters who also did not observe a 40%+ drop in homes they were looking at, I even have a thread asking if anyone realized such a large discount from the 06-10 drop. And are you ignoring USC's post above that I've quoted twice now?

Sorry Liar... just like in 2018-19... you can't get anything right.

meccos12 had nothing to do with the discussion where we collectively debunked the 15% myth.  This means you are remembering the wrong thread.  LOL...

You can’t even find a single post to support your lies.

Want to bet that most SFR buyers paid closer to a 15% discount than a 40% one? You keep glomming on to 28% but I can claim you were in the 40%+ camp with Larry.

Your position has been debunked by the data, as well as the observations of a multiple TI posters.  Post your data for 3CWG's if you have it.

Offline irvinehomeowner

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Re: Poll: Irvine Housing Prediction June 2022
« Reply #111 on: August 01, 2022, 03:51:15 PM »
I've always had that caveat about the homes I was looking at because I was actively shopping from 2008 on... find the post where I applied to ALL. You can't.

This is just more lies from you because you are absolutely wrong here.

And you didn't bust anything... it was meccos12 who asked for clarity on what homes I was shopping that I only saw a 15-20% drop so I pointed him to that thread.

Quote
Not a single poster took your side.

Wrong again. There were other posters who also did not observe a 40%+ drop in homes they were looking at, I even have a thread asking if anyone realized such a large discount from the 06-10 drop. And are you ignoring USC's post above that I've quoted twice now?

Sorry Liar... just like in 2018-19... you can't get anything right.

meccos12 had nothing to do with the discussion where we collectively debunked the 15% myth.  This means you are remembering the wrong thread.  LOL...

You can’t even find a single post to support your lies.

Want to bet that most SFR buyers paid closer to a 15% discount than a 40% one? You keep glomming on to 28% but I can claim you were in the 40%+ camp with Larry.

Your position has been debunked by the data, as well as the observations of a multiple TI posters.  Post your data for 3CWG's if you have it.

What position? You claim to remember the discussion, why can't you quote the post where I stated that it was 15% across all Irvine products? There is a whole thread I started about 3-car garage homes and this was back then during real time so it's been posted here and referred back to numerous times.

Your position on what I claimed has been debunked by facts... just like your position in 2018-2019 and for the past 3 to 4 years where you kept predicting pain for Irvine.

Same with your position about buying in the last 4 years which I said is fine as long as you can afford it and stay put for a while. You argued against me... and then you went and bought your own home... LOL.

Liars do what liars do.
Once you go 3-car garage... your junk can never go back.
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FCB: Foreign Cash Buyer
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Offline TestingIrvine

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Re: Poll: Irvine Housing Prediction June 2022
« Reply #112 on: August 01, 2022, 10:30:48 PM »
How much does Irvine's price drop during the 2008 financial crisis?

Around 25% from peak to trough with desirable SFR homes declining 15-20% and attached condos declining 30-35%. 

So if I say this, certain people think I'm biased... but this is what I've been saying for years.

Those over 50% drops in Irvine that were predicted never happened. Even 40% is more an exception than the the rule.

This is you rewriting history.  What you said for years was that Irvine declined by 15%.  Period.  End of story.

Others were treating you like some kind of expert and quoting the 15% number, saying it showed how strong Irvine was compared to other cities.

The actual data did not agree with your personal observations though.  PPSF in Irvine dropped 28% peak-to-trough.

Find the post Liar.

USC said SFRs 15-20%... I also said in homes that "I was looking at". Go find the post and then you can apologize for lying once again.

And 28% is a far cry from 40-50%+ that other people were predicting/claiming.

Period. Exclamation point.

Prices declined by about double what you were claiming.  Whoever predicted a 40% decline would have been closer to the mark than you.  And of course they deserve credit for predicting the decline in advance, when almost nobody believed it was possible (not even USC), while you were making the 15% false claim after the fact.

Liarloan is an old man yelling at a cloud.  Nobody know what he’s yelling at

https://vannattapr.com/2020/12/03/dont-yell-at-clouds/

Whatever he says, we all made out like bandits the last 5 years via Irvine real estate

Maybe he’s mad he missed the Irvine real estate gravy train

Offline Liar Loan

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Re: Poll: Irvine Housing Prediction June 2022
« Reply #113 on: August 02, 2022, 02:59:25 PM »
How much does Irvine's price drop during the 2008 financial crisis?

Around 25% from peak to trough with desirable SFR homes declining 15-20% and attached condos declining 30-35%. 

So if I say this, certain people think I'm biased... but this is what I've been saying for years.

Those over 50% drops in Irvine that were predicted never happened. Even 40% is more an exception than the the rule.

This is you rewriting history.  What you said for years was that Irvine declined by 15%.  Period.  End of story.

Others were treating you like some kind of expert and quoting the 15% number, saying it showed how strong Irvine was compared to other cities.

The actual data did not agree with your personal observations though.  PPSF in Irvine dropped 28% peak-to-trough.

Find the post Liar.

USC said SFRs 15-20%... I also said in homes that "I was looking at". Go find the post and then you can apologize for lying once again.

And 28% is a far cry from 40-50%+ that other people were predicting/claiming.

Period. Exclamation point.

Prices declined by about double what you were claiming.  Whoever predicted a 40% decline would have been closer to the mark than you.  And of course they deserve credit for predicting the decline in advance, when almost nobody believed it was possible (not even USC), while you were making the 15% false claim after the fact.

Liarloan is an old man yelling at a cloud.  Nobody know what he’s yelling at

https://vannattapr.com/2020/12/03/dont-yell-at-clouds/

Whatever he says, we all made out like bandits the last 5 years via Irvine real estate

Maybe he’s mad he missed the Irvine real estate gravy train

Haha... good for you.  But we were discussing the Great Recession declines that IHO says weren't that bad. 

What about you, do you think Irvine only declined 15% in those days or closer to 30%?

Offline TestingIrvine

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Re: Poll: Irvine Housing Prediction June 2022
« Reply #114 on: August 02, 2022, 04:13:57 PM »
How much does Irvine's price drop during the 2008 financial crisis?

Around 25% from peak to trough with desirable SFR homes declining 15-20% and attached condos declining 30-35%. 

So if I say this, certain people think I'm biased... but this is what I've been saying for years.

Those over 50% drops in Irvine that were predicted never happened. Even 40% is more an exception than the the rule.

This is you rewriting history.  What you said for years was that Irvine declined by 15%.  Period.  End of story.

Others were treating you like some kind of expert and quoting the 15% number, saying it showed how strong Irvine was compared to other cities.

The actual data did not agree with your personal observations though.  PPSF in Irvine dropped 28% peak-to-trough.

Find the post Liar.

USC said SFRs 15-20%... I also said in homes that "I was looking at". Go find the post and then you can apologize for lying once again.

And 28% is a far cry from 40-50%+ that other people were predicting/claiming.

Period. Exclamation point.

Prices declined by about double what you were claiming.  Whoever predicted a 40% decline would have been closer to the mark than you.  And of course they deserve credit for predicting the decline in advance, when almost nobody believed it was possible (not even USC), while you were making the 15% false claim after the fact.

Liarloan is an old man yelling at a cloud.  Nobody know what he’s yelling at

https://vannattapr.com/2020/12/03/dont-yell-at-clouds/

Whatever he says, we all made out like bandits the last 5 years via Irvine real estate

Maybe he’s mad he missed the Irvine real estate gravy train

Haha... good for you.  But we were discussing the Great Recession declines that IHO says weren't that bad. 

What about you, do you think Irvine only declined 15% in those days or closer to 30%?

Honestly who cares about the past? The Great Recession was an entire generation past , 15 years ago.

Different times, different situation.

Might as well be a boomer and talk about saving & loan crisis and dotcom bubble.

Current situation is unprecedented.  Irvine 2007/2008 is a different Irvine of today.

Offline Danimal

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Re: Poll: Irvine Housing Prediction June 2022
« Reply #115 on: August 02, 2022, 06:47:18 PM »
I dont see any price drop.  I just closed escrow on my old Irvine home today.  I got 7 offers (3 cash & 4 loans with 30%+ down) and sold more than asking price. This is when rate was higher last month. There are just too many people want a piece of Irvine.

Offline Davidlee199

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Re: Poll: Irvine Housing Prediction June 2022
« Reply #116 on: August 02, 2022, 06:55:49 PM »
Average New Home Price, biggest drop since 2008.
If you don’t see it NOW, you will see it in 6-12 months.
https://fred.stlouisfed.org/graph?graph_id=909485

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Offline best_potsticker_in_town

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Re: Poll: Irvine Housing Prediction June 2022
« Reply #117 on: August 02, 2022, 08:04:08 PM »
I dont see any price drop.  I just closed escrow on my old Irvine home today.  I got 7 offers (3 cash & 4 loans with 30%+ down) and sold more than asking price. This is when rate was higher last month. There are just too many people want a piece of Irvine.

There are definitely still buyers and if a listing is in a good area, is in good condition, and priced right - it will move quickly. Sounds like you had 2 out of the 3, or maybe even the trifecta - so congrats to you. The market has definitely slowed. Sellers are still pretty stuck on their asking price and many can't be convinced to do a reduction.

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Offline CalBears96

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Re: Poll: Irvine Housing Prediction June 2022
« Reply #118 on: August 02, 2022, 08:07:25 PM »
I dont see any price drop.  I just closed escrow on my old Irvine home today.  I got 7 offers (3 cash & 4 loans with 30%+ down) and sold more than asking price. This is when rate was higher last month. There are just too many people want a piece of Irvine.

Congrats!

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Offline TestingIrvine

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Re: Poll: Irvine Housing Prediction June 2022
« Reply #119 on: August 02, 2022, 08:58:15 PM »
I dont see any price drop.  I just closed escrow on my old Irvine home today.  I got 7 offers (3 cash & 4 loans with 30%+ down) and sold more than asking price. This is when rate was higher last month. There are just too many people want a piece of Irvine.


Congrats. Experiencing  the gains first hand is the best experience.  Nobody I know who bought before 3/2022 is regretting as of now in Irvine.

Irvine is a different beast because of The Irvine Company.  Thank you TIC LOLLLL.

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