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I would recommend that. it's a shady time all around right now.

I was in the mortgage industry until the sub-prime meltdown lead to massive lay offs, I also did a lot of statistical research on housing prices in college so I know my way around a bit. I've only briefly begun studying southern california real estate. That's pretty sad if 30% of our county goes...

I would check out villa siena, it has a nice mediteranian feel and they do have some 3 bdrm townhouses and you can usually get away w/ not having to buy a 3rd transponder.

Of course, I understand. But it does give you a good picture of what is going on in the world of lending today. Some of it will apply to OC, some of it won't. Everyone is so helpful on this forum, I've turned a lot of people onto irvinehousingblog.com and i will continue to do...

<a href="../../../account/262/">bkshopr</a> : You really hit my perspective on the head about Jamboree living. This is OC! You have to drive to work anyways, you can't walk anywhere (even to the closet thing) and no downtown really exists. We don't need to live like rats on top of...

Thanks Irvine Renter, that makes sense, I forgot to calculate the fact that it will be a rental wash. People forced out by eviction will be an investors dream, therefore it will remain in equity. As for resetting, the graph does not take into account two things : Stated income forgeries...

Please explain your resulting foreclosure conclusion, won't those in foreclosure between now and years end have to rent in 2008? Granted the foreclosure process is long but this year alone will set some records for foreclosures I'm sure, so won't those people have to rent immediately...

Thanks, I found this : Despite this new high-water mark, some in the building industry focus on the fact that square-footage growth may be stabilizing; last year's figure is close to the 2004 average of 2,349 square feet. and The Benhams didn’t know their move was part of a trend...

For sure, a good floor plan is essential. Especially considering the additional costs to upkeep a larger home and the fact that the average home size is actually declining over the decades. I never thought about the fact that most builders will want to cut out the "dead wood" and focus on...

I know what you mean! I"m waiting for a new century executives house to foreclose so I can snatch it up, haha i wish! nah but the only way for a renter to not waste money is by renting from someone personally, not a corporation which is all about profit.

bkshopr : Thanks for the advice, I am becoming less and less a fan of attachted condos for the problems you mentioned above. Idealy, I want a small 1000-1200 sqft condo sharing at most one wall with nobody above or below. To add to your argument, this is southern...

Gepetoh : well put points, I think the pscyhological factor or market sentiment you describe is right on the money, here in 2007 we are slightly more educated as a whole on recession-like periods of time, especially in the housing market. Therefore I think 24 months is a fair estimate...

Which apartments are those? I want to rent out someone's condo, that way I can get a non-corporate discount, renting from one major company always keeps pricing up.

Thanks for the input. I will surely not buy within the next year, I do have the luxury of shopping around. If 2006 was the start, then roughly 2010 would be ideal.. but i can't wait that long unfortunately so I think the largest drop will come at the mid-end of 08. At least based...

Weonlybuynew : Your point is well taken, I've looked into developments when they have filled up more than 90% of inventory and the developers loans are already repaid. At that point every other unit they sale is pure profit and they are more willing to negotiate pricing just to...

Perhaps I mistyped, I'm talking about fundamental valuation prices and not new developments or supply/demand economics. The supply/demand elements play in favor of price reduction, the last time i checked irvine had added something like +87% inventory over a one year average...

it's Anahiem, I don't care how new they are but that name alone drives down the price. these will be the first to go in the decline, i would say more like 3-5 years at the most 7 years and stuff will be turned around again, i don't think the pscyhological shock like that of the...

Hey I was a UCI student! 2100 a year, that sounds like a great deal! hahah anyone have a cheap 1 bedroom for rent? do I get the irvinehousing blog discount?

Those are perfect! Keep dropping, I want to flip those in the next generation of real estate cycle in 15 years lol

I'm a potential condo buyer, looking to get out of renting in the next 1-2 years as money allows. The real question I have for you real estate moguls is when is the optimum time to buy? I've kept tabs on the market in OC for the last year or so and it's undoubtedly in a mild to severe...