A new escrow thread for a new housing market...

NEW -> Contingent Buyer Assistance Program
cherry14 said:
ipoplaya said:
Another weekend, another 18 new escrows... It's amazing that 5-6 properties per day can continue to go under contract. Days on the market are getting woefully short.
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I wonder if this will cause an increase in inventory? Maybe potential sellers will see that homes are selling fast, so they might decide to list theirs too?
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It hasn't yet. Hopefully it will. The inventory graph on the main blog only goes back 2.5 years and we are at an all-time low on that. This is probably the least amount of available inventory Irvine has seen in at least 5-6 years if not much longer...
 
CapitalismWorks said:
What ever happened to 10 Magnet?
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Deuce and I think we saw him about two weeks ago at Benjies in Santa Ana.

Mid/late 40's.

True religion jeans.

Drove up in a late model Bentley.

It all started when we were talking about that picture of Deuce that somebody 'shopped into the windshield of a Bentley. I look over and say "hey, they are bringing your car up". Deuce was like "huh" and then sheepishly admitted he had no idea what a Bentley looked like - he claimed he'd never seen one in real life.

Where is that picture of Deuce anyway?
 
no_vaseline said:
Deuce and I think we saw him about two weeks ago at Benjies in Santa Ana.

Mid/late 40's.

True religion jeans.

Drove up in a late model Bentley.

It all started when we were talking about that picture of Deuce that somebody 'shopped into the windshield of a Bentley. I look over and say "hey, they are bringing your car up". Deuce was like "huh" and then sheepishly admitted he had no idea what a Bentley looked like - he claimed he'd never seen one in real life.

Where is that picture of Deuce anyway?
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It's right here. :-P

I think it's time Deuce gets a new car. Suggestions? :cheese:
 
Does anyone know the closing price of 19125 Sierra Majorica? It was one of McMonigle's 90-Day Certain sale homes. I got an email saying it closed today.

Thanks
 
24 new escrows just added from the past four days. 10 of those came through within the last day...

If I see the closing price that property Joon, I will post it.
 
usctrojanman29 said:
ipoplaya said:
Man, just had six more new escrow entrants pop through... Sheez.
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I hope they were able to lock their rates in the last week because rates are up another .25% since Monday.
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Happy times! Higher rates should help quash any Summer bounce. Then we can all wait for the Fall/Winter REO's to start showing and prices to start falling more.
 
I think the escrow-dropouts of the next 45-60 days will be a real bell weather to the credit and capital strength of these Irvine homebuyers. I have not participated in thie thread much, but I will be watching it like a hawk TFN.
 
ipoplaya said:
Oy, here's a new listing that might have trouble making it to escrow... I smell a blog profile coming on.
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This is in the Camelia sub-division I believe. While most of NP Square was built out by 2002 these homes were sold at more or less the peak of the bubble (approx. 2005/2006). This WTF prices does not really suprise me as I suspect many in this tract are probably still in denial. This will be an interesting area to watch in the next couple of years.
 
Irvine_Lurker said:
ipoplaya said:
Oy, here's a new listing that might have trouble making it to escrow... I smell a blog profile coming on.
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This is in the Camelia sub-division I believe. While most of NP Square was built out by 2002 these homes were sold at more or less the peak of the bubble (approx. 2005/2006). This WTF prices does not really suprise me as I suspect many in this tract are probably still in denial. This will be an interesting area to watch in the next couple of years.
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Even if they could find a crazed fool willing to pay that much, probably $300-350K over current market, no one would ever lender against it as it would be massively over comps. They would need a buyer willing to plunk down at least $500K at the price...
 
Irvine_Lurker said:
ipoplaya said:
Oy, here's a new listing that might have trouble making it to escrow... I smell a blog profile coming on.
Click to expand...

This is in the Camelia sub-division I believe. While most of NP Square was built out by 2002 these homes were sold at more or less the peak of the bubble (approx. 2005/2006). This WTF prices does not really suprise me as I suspect many in this tract are probably still in denial. This will be an interesting area to watch in the next couple of years.
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Actually this is the Campanile tract within NorthPark Square. All built recently around 2006 during the bubble. I actually like these homes but the prices were way too high. I suspect there was some toxic financing going on to purchase here and now the recent home buyers are looking for a way out.

This 12 Inglenook home is a Plan 3 Campanile. I was seriously considering purchasing the same floor plan at 2 Longvale last December. It ended up closing on 1/27/09 per IPOP's website for $830K (whoever bought it paid 20K more than the seller offered me).

There is also another WTF seller down the street (must be contagious)...look at 24 Spyrock. Their walls must be covered in gold.

I will wait for the neighborhood to implode before deciding to buy there again.
 
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