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Can maybe say that for LF with the meadows school drama. But with Irvine it's funded by MR I believe.

I don't think any of it is legitimate. I think a lot of it has to do with the fact they felt deceived regarding the entire school falling through. Blame goes to the buyer and buyers agent for not researching and doing due diligence prior to buying. I was looking at these homes at one point but...

Found this petition by the homeowners to be interesting: https://www.change.org/p/concerns-the-public-safety-conversion-of-planned-school-site-in-meadows-lake-forest-ca

I heard that putting in low ball offers are frowned upon for realtors. Is that true? Seems like we have a couple of folks here that have realtors that are willing to do it. I thought normally it's better to simply wait for price drops rather then put low ball offers.

Could it be because they were sitting on record low interest rates so carrying costs were low?

Better is subjective. Builders here use the same contractors from my experience. It all comes down to the builder construction managers that enforce the quality that matters. That’s a hit or miss. What I would emphasize instead are the following: 1. Pre-drywall and pre-closing home inspections...

Welcome to Irvine.

In addition to what others have mentioned, I think the location of PS is also a factor. I did a quick search to see if there were “newer” SFH that is < 2.5m. I was surprised to see there were 2 right now: https://redf.in/dTtFiZ https://redf.in/gsHnzB Both are better located than PS. So no...

Bro, you don’t know how to use that line. Please do better. But if you want, I can provide receipts of your ignorance for the new folks here. Don’t start a battle you can’t finish 😉

You rarely agree with me because I spit facts that goes against your subjective opinion of Irvine. Don’t get me started on how you didn’t even know what SALT tax was.

Cherry picking data points. I can find examples of price reductions that led to homes being sold as well. I think the problem isn’t only the price but also the amount of inventory that is in the market in PS. Not only that, I think it’s more difficult to sell detached condos at 2M+. You can...

Irvine is known as an FCB city. Once you hit the sale price of 2M+, most homes are cash buyers and therefore rates do not have an impact. Also, we are currently in a situation where prices are trending downwards so using Julys comps isn’t a good indicator of what the price is today.

113 Tall Reed constantly lowering the price will impact the future comps nearby the area and especially when it’s the same floor plan. One also needs to factor in not only interest but also the opportunity cost that you lose by not having the sale done sooner.

Pointing out that buyers were always paying for the buyers agent commission doesn't necessarily address the actual changes and instead causes more confusion for the buyers. With the NAR changes, the buyers will not be able to finance the buyers agent commission so it will need to be cash out of...

I foresee what will end up happening with the NAR changes will be that seller will have the home listed at $X and if you want your buyer agent to get paid by the seller, you will buy the house for $X + $Y. $Y being the commission the buyer agent gets. But of course that depends on the market...

$8300 for a condo?!?! Props to you dude for being able to do that and justify it.

I would have told him no more halfsies as that was my offer at that time. Now it's all on you to compensate or I don't buy.

I wonder if these new NAR changes are impacting Irvine market? I wouldn't think it would. The other thought is CCP holiday is coming up.

1.1m for a condo is insane despite all this inflation. That's not even factoring in MR and HOA. I would honestly rent than pay 1.1m for a condo. Take the extra in savings and dump it in the S&P500.

Honestly the fact it needs updating is actually good. The future owner can pick out the upgrades and design it themselves. Not to mention this home has a driveway where as some homes in Irvine are not even SFH, has no driveway, has MR, and cost 2M+.