Future of real estate in irvine
- Thread starter thezeb00
- Start date
paperboyNC
New member
thatOSguy said:
Unless I bought a smaller attached place like this:http://www.redfin.com/CA/Irvine/42-Wild-Trl-92618/home/40389602
paperboyNC
New member
thatOSguy said:
When I bought I mostly looked at attached products. I bought the home I did because it was the same price per sq ft as attached but it was detached. I'd definitely consider it, but most likely I'd rent if I had moved to Irvine in 2014 instead of 2012.
homer_simpson
Well-known member
IMHO, if the purchase price of your home is $800k+ and your household isn't grossing north of $200k and don't have a downpayment to make your loan conforming, chances are; you're cutting it close.
When you factor things in like children, cost of living and other misc expenses... you're going to be saving next to nothing.
When you factor things in like children, cost of living and other misc expenses... you're going to be saving next to nothing.
paperboyNC
New member
Homer_Simpson said:
True. A good rule of thumb is a mortgage that is no higher than 3X your income. The reason I made an exception is that I expect my income to increase to conform to that requirement. I at least have a conforming loan.
homer_simpson
Well-known member
paperboyNC said:
Also, if you're an FCB or have parents that can give you money for the down then the comments above do not apply lol
irvinehomeowner
Well-known member
I guess we are over ratio'd.
But that's okay, we can always HARP/TARP/SQUAT (not the IHS squat) if we can't make payments down the road.
But that's okay, we can always HARP/TARP/SQUAT (not the IHS squat) if we can't make payments down the road.
paperboyNC
New member
irvinehomeowner said:
If I can't make my payments I'm selling and pocketing my 35% appreciation thank you very much. I could move to Corona and buy a house for cash or use the cash to pay rent for 5 years.
irvinehomeowner
Well-known member
Had we known how easy it would be to game the system, we wouldn't have sold our previous 3CWG.thatOSguy said:
We could have cashed out on 2 homes during this latest run up of Irvine prices.
socal78
Well-known member
The California Court Company said:
Well, you are not in your communist country anymore. Here, a Senior Software Engineer in Irvine with over 20 years of experience makes oh, just a little bit more than four of those employees. Now you can sleep at night without worrying about where we get our next meal! But hey, if that's all he made, it would be all good with me. Money does not make the man.
The Motor Court Company
Well-known member
so your hubby is making 6 figures, living in a low income community and has his wife begging for Home Depot coupons on the internet? something is fishy here.
SoCal said:
paperboyNC
New member
Coleman said:
I actually work with someone who meets that description. She doesn't have a rent/mortgage though (lives in a family's house for free).
If I was really lucky I would have sold last year but I couldn't do it without owing capital gains taxes.
Irvinecommuter
New member
Coleman said:
When I lived in Irvine apartments, I was always amazed at the number of late model luxury cars that are in the parking lots. While there are still nice cars in my neighbor, there are lot of "common sense" cars.
homer_simpson
Well-known member
Just go into westminster,garden grove, anaheim. There will be like 5 families living under one roof with high end cars parked outside. Can't imagine 12 people and a 3bd/2.5 bath home lol...