irvinehomeowner
Well-known member
I did this last year on the IHB in trying to find rental parity for 4/3 homes in Irvine. It seems that inventory has dried up since then.
I did a quick Redfin and what I'm looking for is 4/3 SFRs (trying to fit that demographic who prefers a 4th room with a bath for guests/in-laws/whatever) under $800k. I even took out the build 1990 or later because that only returned 2 results.
As of today I found:
8 total SFRs under $800k, 1 was a short sale.
Of those 8, only 3 were under $700k and the lowest was $649k.
That's why TIC can price their homes the way they do.
So if there are any perma-bears out there left from the IHB who said Irvine isn't different... can one of you explain what is going on here? Record high unemployment, no easy credit, 40% down payment average in Irvine... what's the story?
I'll continue to update this so we can track how Irvine and the legend of the FCBs are doing (since IPO is MIA).
I did a quick Redfin and what I'm looking for is 4/3 SFRs (trying to fit that demographic who prefers a 4th room with a bath for guests/in-laws/whatever) under $800k. I even took out the build 1990 or later because that only returned 2 results.
As of today I found:
8 total SFRs under $800k, 1 was a short sale.
Of those 8, only 3 were under $700k and the lowest was $649k.
That's why TIC can price their homes the way they do.
So if there are any perma-bears out there left from the IHB who said Irvine isn't different... can one of you explain what is going on here? Record high unemployment, no easy credit, 40% down payment average in Irvine... what's the story?
I'll continue to update this so we can track how Irvine and the legend of the FCBs are doing (since IPO is MIA).