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So dumb, promise something that is doable like a 10-15% annual return and you'll get a lot of people's money.

The answer to that is NO because Irvine is land locked that is mostly built out and unlike anyone other city in the US it has the backing of The Irvine Company which owns a ton of apartments, retail, office, and industrial space so they are incentivized to keep the Irvine perception of Irvine...

The number of buyers really begins to drop off when you get to $3m+.

They are overpriced for the most part and will sit unless the builders reduce prices. There aren't as many $5m+ buyers as there was before this year so it'll be a while before all of those homes are sold.

Yeah because raising the listing price while motivate buyers to put an offer in when a lower price didn't. That is one of the dumbest pricing strategies out there. Price it right out the gate and be done with it because time is money.

I'll have to give these a try with my 4 egg lunches. (y)

Panda just uses Talk Irvine to try to get some new buyers for Johns Creek.

Wait, what? I'm considered being Asian since I'm Polish or is it because my girlfriend is Chinese? :ROFLMAO:

That % is an average, higher priced homes have seen a higher %s price declines as view lot premiums have deflated and the supply of $2m has significantly increased since the beginning of this year. Irvine properties sub $1.5m have not seen material price declines this year.

Man, this seller is really stubborn. Not only did it not sell at the initial asking price but now they relisted it at a higher listing price. What are they smoking? haha

Earlier this morning I listed a turnkey Trellis Court Plan 3 detached condo in Cypress Village East on MLS. The home sits on a premium lot with no neighbors behind it and was built in 2018 by California Pacific Homes and features 4 bedrooms and 3.5 bathrooms, including a downstairs bedroom and...

The issue with a lot of Irvine listings is that sellers/listing agents are still delusional using 2024 pricing to come up with the list price while market prices are down 5%+ from last year.

The market is currently a weak buyers market. The sense of urgency to buy is gone for most all buyers and since inventory levels have increased coupled with many price cuts many buyers are being very patient and waiting for a price or two before submitting an offer. I got a buyer into escrow...

And what's the criteria for being a top 10 place to live? I wouldn't live in any of those cities listed above.

My dad did but he sold it.

In the longer term, Irvine will outperform any city in GA because Irvine is landlocked and almost out of buildable land where you can keep on building and building in GA with all that flat land.

I tell all my investor clients, the best bang for the buck nowadays is a 3-bedroom DETACHED property in most part of South OC. You'll get no Mello Roos and very reasonable HOA with good potential appreciation as long as you buy in "B" or better schools areas. And I put my money where my mouth...

The transaction closed last week on Friday. The adjusted sales price was $1,125,000 but the actual recorded closing price was $1,100,000 as the Buyer was also the Buyer's Agent and used his $25,000 commission to reduce the price to $1,100,000. Congrats to the Buyer and Seller.

Yeah, he's in his 70s so even some things can escalate to bigger things quickly. I was able to spend some quality time with him while he was going through his treatments and recovery and plan to see him more often. Thankfully my mom and step dad are very healthy and live close by in Irvine.

The crazy thing is that fire insurance wasn't too crazy for the home (less than $3,000/yr).