Author Topic: Observations from the front lines of the Irvine housing market…  (Read 310813 times)

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Offline USCTrojanCPA

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Re: Observations from the front lines of the Irvine housing market…
« Reply #1110 on: July 03, 2022, 04:25:47 PM »
Just came back from an open house, wow there were like 10+ people inside. Housing slowdown? 🤣

As soon as prices drop a little, you get tons of interest. Other 4 bed houses nearby are going for 1.8 million.

https://www.redfin.com/CA/Irvine/7-Oroville-92602/home/5812848


Yup, that's priced to move fast given that the over price per SF over $700/sf for SFRs.
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Offline Irvinehomeseeker

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Re: Observations from the front lines of the Irvine housing market…
« Reply #1111 on: July 03, 2022, 07:42:46 PM »
Just came back from an open house, wow there were like 10+ people inside. Housing slowdown? 🤣

As soon as prices drop a little, you get tons of interest. Other 4 bed houses nearby are going for 1.8 million.

https://www.redfin.com/CA/Irvine/7-Oroville-92602/home/5812848


Yup, that's priced to move fast given that the over price per SF over $700/sf for SFRs.
The price is what it was in early to mid part of 2021. Good thing it will sell fast, now will it cause the future comparabes to also go down?

Offline USCTrojanCPA

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Re: Observations from the front lines of the Irvine housing market…
« Reply #1112 on: July 03, 2022, 09:36:20 PM »
Just came back from an open house, wow there were like 10+ people inside. Housing slowdown? 🤣

As soon as prices drop a little, you get tons of interest. Other 4 bed houses nearby are going for 1.8 million.

https://www.redfin.com/CA/Irvine/7-Oroville-92602/home/5812848


Yup, that's priced to move fast given that the over price per SF over $700/sf for SFRs.
The price is what it was in early to mid part of 2021. Good thing it will sell fast, now will it cause the future comparabes to also go down?

I'm sure it'll get bid up to over $700/sf.
Martin Mania, CPA
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Offline Liar Loan

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Re: Observations from the front lines of the Irvine housing market…
« Reply #1113 on: July 20, 2022, 01:25:28 PM »
Orange County was tied for the 3rd largest decline in sales for all of California.

California home sales and price curb in June as housing demand cools, C.A.R. reports

Of the 49 counties that experienced a sales decline, 48 of them fell by double-digits from last year, and 36 California counties had a year-over-year sales plunge of more than 20 percent. San Benito had the biggest sales drop from last June at -48.6 percent, followed by Siskiyou (-45.2 percent), Orange (-36.1 percent), and Santa Cruz (-36.1 percent).

https://www.car.org/en/aboutus/mediacenter/newsreleases/2022releases/june2022sales

Offline OCtoSV

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Re: Observations from the front lines of the Irvine housing market…
« Reply #1114 on: July 20, 2022, 02:49:24 PM »
Orange County was tied for the 3rd largest decline in sales for all of California.

California home sales and price curb in June as housing demand cools, C.A.R. reports

Of the 49 counties that experienced a sales decline, 48 of them fell by double-digits from last year, and 36 California counties had a year-over-year sales plunge of more than 20 percent. San Benito had the biggest sales drop from last June at -48.6 percent, followed by Siskiyou (-45.2 percent), Orange (-36.1 percent), and Santa Cruz (-36.1 percent).

https://www.car.org/en/aboutus/mediacenter/newsreleases/2022releases/june2022sales
wow - that OC stat is a stunner considering the other 3 are small counties with low incomes. I see big reductions across the board in every South OC city, and rate are <6% - watch out below!

Offline mariarandall

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Re: Observations from the front lines of the Irvine housing market…
« Reply #1115 on: August 02, 2022, 01:09:43 AM »
Orange County was tied for the 3rd largest decline in sales for all of California.

California home sales and price curb in June as housing demand cools, C.A.R. reports

Of the 49 counties that experienced a sales decline, 48 of them fell by double-digits from last year, and 36 California counties had a year-over-year sales plunge of more than 20 percent. San Benito had the biggest sales drop from last June at -48.6 percent, followed by Siskiyou (-45.2 percent), Orange (-36.1 percent), and Santa Cruz (-36.1 percent).

https://www.car.org/en/aboutus/mediacenter/newsreleases/2022releases/june2022sales/stickman hook

OC  figure is shocking since the other 3 are tiny, low-income counties.

Offline The California Court Company

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Re: Observations from the front lines of the Irvine housing market…
« Reply #1116 on: August 02, 2022, 07:14:09 AM »
Are the Chinese FCBs waiting to buy real estate in Taiwan? Given the tension there.

Orange County was tied for the 3rd largest decline in sales for all of California.

California home sales and price curb in June as housing demand cools, C.A.R. reports

Of the 49 counties that experienced a sales decline, 48 of them fell by double-digits from last year, and 36 California counties had a year-over-year sales plunge of more than 20 percent. San Benito had the biggest sales drop from last June at -48.6 percent, followed by Siskiyou (-45.2 percent), Orange (-36.1 percent), and Santa Cruz (-36.1 percent).

https://www.car.org/en/aboutus/mediacenter/newsreleases/2022releases/june2022sales/stickman hook

OC  figure is shocking since the other 3 are tiny, low-income counties.
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Offline sleepy5136

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Re: Observations from the front lines of the Irvine housing market…
« Reply #1117 on: August 02, 2022, 04:11:35 PM »
I'm noticing FCB transactions are putting offers in RMB. Or Half RMB and half USD to get around the 50k annual transfer limit that CCP implemented. Is this actually allowed in a real estate transaction? I would think it would not be allowed since it gives non-FCB buyers a disadvantage of obtaining the home.

 

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