the.irvine
Active member
How?s home sale at Elderberry? I think they are still selling phase 1 and 2? Anyone here who has bought?
the.irvine said:I like the hilltop location, but it seems that it will take next 2-3 years to build out the whole hilltop. Is this a good time to buy there?
Ready2Downsize said:the.irvine said:I like the hilltop location, but it seems that it will take next 2-3 years to build out the whole hilltop. Is this a good time to buy there?
I would wait and see how the tax reform plays out. If SALT becomes completely not deductible, I can see builders pay for the mello up front and maybe getting the land for a little bit less to pay for that.
If that happens, whoa to everyone who has mello and especially if it goes up 2% a year. We'll have a whole lot of trouble reselling.
the.irvine said:Yes for sure. I am not sure if builders are already feeling the pinch or not.
Jantoven said:the.irvine said:Yes for sure. I am not sure if builders are already feeling the pinch or not.
We'll see. Even if SALT is eliminated, I suspect you'll see a slowdown in housing sales (due to the 5 year rule as well), but I don't think you'll see prices really regress much. This isn't 2006-2009, when people put 0% down and could just walk away from their unaffordable homes/mortgages. Too many people have significant equity/cash invested in their homes, so what you would more likely see is stagnant pricing vs regression. People won't willingly sell their homes at a significant loss unless they *have* to.
Burn That Belly said:See, this just bugs the hell out of me. This home is quite desirable by today's standard. $900k and you get a full 2car driveway, 4 beds, high ceilings, relatively new, modern appliances, and a yard. But it has sat on the market for 163 days. Something just doesn't seem quite right.
https://www.redfin.com/CA/Irvine/118-128-Yellow-Pne-92618/home/112721813
Put this home in EW, OH, SG, WB and it will be swooped up by the end of the week.
Burn That Belly said:jmoney74 said:Burn That Belly said:See, this just bugs the hell out of me. This home is quite desirable by today's standard. $900k and you get a full 2car driveway, 4 beds, high ceilings, relatively new, modern appliances, and a yard. But it has sat on the market for 163 days. Something just doesn't seem quite right.
https://www.redfin.com/CA/Irvine/118-128-Yellow-Pne-92618/home/112721813
Put this home in EW, OH, SG, WB and it will be swooped up by the end of the week.
it's priced too high though.. per square feet. Agreed.. you don't get this issue over in the other Irvine neighborhoods.. but for PS.. you gotta price it right.
They want $925k but I'm positive they will cave today at $900k cash offer so that's why I said $900k is fair price. But something like this at $900K is a freaking bargain at Eastwood considering Delano's are selling $900k+ for attached to 3 neighbors!!!