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We always intended to, but we never did. Surprisingly bofa (sonoma's preferred lender) gave us a very good rate that our outside lender couldn't match.  We were very happy how smooth every went.  Good luck!

You keep on saying this but it's not happening. 

What is the monthly price difference b/n a mortgage that is $835k and $775k?

I agree. A lot of crap I buy ain't worth its price,  but I still buy it. In the end, life is about experiences and spending your money to create those experiences.  You can always talk yourself into thinking something is overpriced.    I would venture to say that 100% of things you buy are...

Rumor has it, those "special" houses are reserved for USC alumni. :p

IACRenter, Do you plan to buy in Irvine some day?  Or are you also considering other cities?

You gotta admit that it works.  lol.  They count the number of buyers by the number of bottles of waters that were taken. 

Buying a brand new house is a nice experience.  Buy a resale house is not.  Too many games being played. 

A lot of time life just doesn't make any sense.  But if you like it, you buy it.  It's like LV purses.  I don't know why some girls need to have 10 of them and have so much credit card debt.  But I guess it makes them feel good after a bad day. 

He does not seem like a very good person. I would not let him strong arm you. He is not your ideal tenant to begin with. I say hold firm on price.

Oh yeah, imagine if you were going through this in a "good" housing market.  You can always wait for that 15-25% drop in price that everyone is talking about.   

The process of buying a house won't make you happy.  But I'm sure once you finally buy one, you will be relieved.

I disagree, I'd say it's more like 15-25% off.  lol. 

Houses are not electronics.  People who bought houses in the 80s are sitting pretty with their VCR and Beta.  :)  There may be a disconnect between the Talk Irvine and the real world, not just the buyers and sellers.  By the way, San Marino, half of phase 1 is sold out.

Good I hope you push all your kids to go to U.S.C. 

None are in Irvine.  You must drive to at least Westminster.  They are up and down Brookhurst and Bolsa.

If this is the case, this would really skew our perception of what is going on in the RE market.  Using Redfin for comps really aren't accurate.  Only the sales of new homes is the true indicator of prices.  Still in this case, you don't know how much/if any incentives were given to the buyer.

Maybe there was a cash side deal.  Therefore allowing the buyer to have a lower property tax basis and/or allow the seller to not pay taxes on that portion of the net gain.  Can this be possible?

This is what causing housing prices to drop in Irvine.  ;) Sellers taking all cash buyers.  I can't blame them myself.  It's almost a sure thing in closing the deal.

USC's annual cost is around $55k/ year.  It better have a stronger alumni system.  Tuition alone is $41k.  UCLA is under $12k