2011 Homebuyer Poll

[irvinehomeowner]

Kpop video time everyone!

So if you're looking (not even sure what the demographics here are... seems like it's even among those who have bought, those who are looking to buy and those who are content with renting), which one (or more) of those options describe your situation?

For us... we would prefer new... but would buy resale if it was the right product at the right price (in Irvine obv). The economy is still a big question but as long as it's what we want and within our budget, we would be willing to pull the trigger. I do know that the magic number has gone down every year, the price point we are looking at now is at least 10% lower than last year.

We are kind of waiting to see what new products will be coming out (Las Ventanas in PS and Laguna Altura) but if something pops up in the other areas we are looking at we won't hold our breath.

 

[blitzjs]

I'm looking to buy this year, hopefully new as well but not sure if its going to happen.  I didn't think I'd be as picky as I am when it came to new home shopping. 

 

[irvinehomeowner]

Considering that values may probably stay flat for a quite a while... being picky is good.

Even for us... although I think our next home won't be our last... we are shopping like it will be.

 

[iacrenter]

I will continue renting until at least 2012 but will be monitoring the Irvine/Tustin Ranch resale market carefully. I like new homes as well but am very open to resale depending on price, location, and floor plan. I would definitely cross shop the two depending on what is available at the time.

I'll still take a look at all the new 2011 TIC products for my free ice cream and gift certificates 

1) Portola Springs--Ironwood & Las Ventannas
2) Laguna Altura
3) Stonegate
4) Alderwood in Woodbridge
5) Vista Verde in University Park

 

[ch]

Gonna rent for another 6 months unless the wife decides to take the plunge now.
Our fears is price drop vs mortgage rates rising. Will we lose our buying power depending how things roll or make out on a larger home for less.

Any thoughts on the attached town homes selling new in WB or PS? Are they worth buying now?

 

[sonoma]

Gonna rent for another 6 months unless the wife decides to take the plunge now.
Our fears is price drop vs mortgage rates rising. Will we lose our buying power depending how things roll or make out on a larger home for less.

Any thoughts on the attached town homes selling new in WB or PS? Are they worth buying now?

People have been asking the same question for years.  It's a personal decision.  It has to just feel right for you and your wife. 

 

[iphb]

I am holding out for at least another year. I sold my home this year and for the time being at least, can't really complain about renting in an IAC complex. I don't have a family so the urgency to buy is not great.

I was all set to buy an attached home in WB or PS last year. Then I saw how crazy things got and thought to myself: "The RE market overall is in the toilet. Why should I be following everyone else into the hype?" So I've decided to hold back for at least a while. I also want to wait and see what happens with other potential investment opportunities, like Treasury rates possibly spiking if politicians make good this year on their intentions to impose more austere measures like capping the national debt.

To me, existing traditional SFRs in Irvine with decently sized back and front yards will hold their value well long-term. Attached homes I think face a somewhat uncertain outlook. Lots of them were bought last year and I'm sure a significant proportion of buyers had expectations of selling them in a few years to step up. And there are lots more being added to inventory in the next few years.