[Poll] Where are we?

So where do you think we are in regards to real estate pricing?

  • Rock bottom! No where to go but up (or flat)!

    Votes: 6 14.6%
  • Close... probably dropping another 5-10% in the next year or so

    Votes: 22 53.7%
  • Passed the bottom in 2009... we are on an uptrend (BobPhillips Realtor option)

    Votes: 9 22.0%
  • Still a long way to go... we will see prices like 1999 (AZDave/Prince re-mix)

    Votes: 2 4.9%
  • Other (please explain)

    Votes: 3 7.3%

  • Total voters
    41

irvinehomeowner

Well-known member
So, mid 2012... where are we in pricing?

I still think there is room for more drops... esp if interest rates don't move too much... I don't think they will be huge ones... so there won't be much difference between buying now or a year from now.

The biggest problem is there is just not much to buy.

Just as an FYI... the way it was explained to me 4 years ago was that 3CWG homes in Irvine that were $900k-$1mil at that time would be $600k-$700k by now or in 2013... I doubt that is going to happen.
 
What are the prices on those 3CWG  home with the old 5.5%-6% interest related adjustment.

irvinehomeowner said:
So, mid 2012... where are we in pricing?

I still think there is room for more drops... esp if interest rates don't move too much... I don't think they will be huge ones... so there won't be much difference between buying now or a year from now.

The biggest problem is there is just not much to buy.

Just as an FYI... the way it was explained to me 4 years ago was that 3CWG homes in Irvine that were $900k-$1mil at that time would be $600k-$700k by now or in 2013... I doubt that is going to happen.
 
@waiting4ever:

While I understand what you're saying... there is also other costs that get reduced with lower pricing such as down payment and property taxes... so adjusting for the lowered interest still leaves you with other financial gaps.
 
I voted other. I think part of choice 4 is correct but 1999 pricing as in [300K house then will again be 300K again] I don't think that will ever happen


irvinehomeowner said:
@waiting4ever:

While I understand what you're saying... there is also other costs that get reduced with lower pricing such as down payment and property taxes... so adjusting for the lowered interest still leaves you with other financial gaps.
 
@waiting:

Interesting... you still think there are larger price drops coming.

I think the Great Park will have influence on that... unless they get greedy like William Lyon is trying to do with their Woodbridge and University Park projects... $900k is outrageous.
 
irvinehomeowner said:
I still think there is room for more drops... esp if interest rates don't move too much... I don't think they will be huge ones... so there won't be much difference between buying now or a year from now.
I knew this was somewhere.

Boy was I wrong. As were 19 others.

Mid 2012, the majority of this poll thought we would see 5-10% drops for another year, but as we know 2013 brought about almost bubble-like price hikes.

I was even joking about how outrageous $900k at The Branches and Willow Bend were going to be, yet they are almost sold out and most of their homes closed at $1m-$1.2m.

I dunno... seems like Irvine is an infinity bubble.
 
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