HOMES REDUCED PRICE

[sgip]

It all depends on the Agent's strategies as well as the temperament of the seller. Example:

March Listing. October $2m price drop. BOOO YA

https://www.redfin.com/CA/Laguna-Beach/279-Crescent-Bay-Dr-92651/home/3261132

Now compare this marketing strategy:

Feb Listing.
May -$900k
July -$900k
Aug -$1,000 (stupid)
Sept -$1,000 (stupider)
Oct - $1,000 (stooopidist)

https://www.redfin.com/CA/Laguna-Beach/32101-Coast-Hwy-92651/home/3267136

In these cases, as well as many seen in Irvine, it's a case of starting at a wish price, only to become a situation you wish would end well.

My .02c

 

[fortune11]

High end takes a bigger hit because many people buying in this $$ zip code are the ones that start to get nervous about asset prices first .  In my job I come across many such people . They are all ?looking for a deal ? but will pay for a trophy or unique property which this Laguna Beach one is not .

Many have started moving $$$ to money market funds and municipal bonds . At current interest rates , no one can say ?but cash earns nothing ??  The option value inherent in holding cash is very attractive . But when asset prices readjust there will be another rush to buy riskier assets . Now is not the time for many of them .

 

[eyephone]

I think there is a media bias. I barely here about housing decline on the radio.

 

[fortune11]

I think there is a media bias. I barely here about housing decline on the radio.

They are usually late to the party . When it starts to get covered extensively in the popular media , it will be the time to buy

 

[irvinehomeowner]

Maybe they think it's the normal seasonal drop.

Still haven't seen enough evidence other than "prices are too high, something has to give" speculation that it's otherwise.

 

[eyephone]

I think there is a media bias. I barely here about housing decline on the radio.

They are usually late to the party . When it starts to get covered extensively in the popular media , it will be the time to buy

Also, I don?t here that much the auto sales decline.
https://www.google.com/amp/s/amp.usatoday.com/amp/1457549002

 

[fortune11]

I think there is a media bias. I barely here about housing decline on the radio.

They are usually late to the party . When it starts to get covered extensively in the popular media , it will be the time to buy

Also, I don?t here that much the auto sales decline.
https://www.google.com/amp/s/amp.usatoday.com/amp/1457549002

New cars have become too expensive, especially once you factor in the higher monthlies now with 0 percent financing deals dead for the most part

There is a shift into buying used cars (coming off leases) . I think that?s a smarter way to go now .

 

[eyephone]

I think there is a media bias. I barely here about housing decline on the radio.

They are usually late to the party . When it starts to get covered extensively in the popular media , it will be the time to buy

Also, I don?t here that much the auto sales decline.
https://www.google.com/amp/s/amp.usatoday.com/amp/1457549002

New cars have become too expensive, especially once you factor in the higher monthlies now with 0 percent financing deals dead for the most part

There is a shift into buying used cars (coming off leases) . I think that?s a smarter way to go now .

Also due to high interest rates, China demand far cars down, and uncertainty.

 

[irvinebullhousing]

I think there is a media bias. I barely here about housing decline on the radio.

They are usually late to the party . When it starts to get covered extensively in the popular media , it will be the time to buy

Also, I don?t here that much the auto sales decline.
https://www.google.com/amp/s/amp.usatoday.com/amp/1457549002

New cars have become too expensive, especially once you factor in the higher monthlies now with 0 percent financing deals dead for the most part

There is a shift into buying used cars (coming off leases) . I think that?s a smarter way to go now .

@Fortune

I am in the market for slight used luxury sedan, where do you recommend to search and look for deals? Thanks

 

[Mety]

I think there is a media bias. I barely here about housing decline on the radio.

They are usually late to the party . When it starts to get covered extensively in the popular media , it will be the time to buy

Also, I don?t here that much the auto sales decline.
https://www.google.com/amp/s/amp.usatoday.com/amp/1457549002

New cars have become too expensive, especially once you factor in the higher monthlies now with 0 percent financing deals dead for the most part

There is a shift into buying used cars (coming off leases) . I think that?s a smarter way to go now .

@Fortune

I am in the market for slight used luxury sedan, where do you recommend to search and look for deals? Thanks

Has he/she become your fortune teller?

 

[iacrenter]

Crushing student debt and 6+ year auto loans will hurt the economy moving forward.

 

[sgip]

@Compressed-Village

Last few cars:

Land Rover - Craigslist
Toyota Sequoia Platinum - Craigslist
MBZ ML 350 - Craigslist
Nissan Convertible - Cars.com

All were clean, no ding vehicles in the 50k mile range when I got them. Other than the LR, with the usual LR maintenance problems, all others have lasted problem free into the 150-200m range. Nice to pay 1/3 to 1/2 off Kelly Blue Book, roughly 2/3 off sticker in some cases.

Here's a little number I'd consider if in the market - 2014 S550, 15k miles (YOW!) with about 6 months of warranty left. Extend the warranty for another 24 months at a reasonable cost, and it's quite the vehicle.
https://losangeles.craigslist.org/wst/cto/d/mercedes-benz-smi/6713360520.html

 

[irvinebullhousing]

@compressedvillage

Last few cars:

Land Rover - Craigslist
Toyota Sequoia Platinum - Craigslist
MBZ ML 350 - Craigslist
Nissan Convertible - Cars.com

All were clean, no ding vehicles in the 50k mile range when I got them. Other than the LR, with the usual LR maintenance problems, all others have lasted problem free into the 150-200m range. Nice to pay 1/3 to 1/2 off Kelly Blue Book, roughly 2/3 off sticker in some cases.

I thought craigslist were a goner because of the adult illegal stuffs. Good to know.

 

[fortune11]

I think there is a media bias. I barely here about housing decline on the radio.

They are usually late to the party . When it starts to get covered extensively in the popular media , it will be the time to buy

Also, I don?t here that much the auto sales decline.
https://www.google.com/amp/s/amp.usatoday.com/amp/1457549002

New cars have become too expensive, especially once you factor in the higher monthlies now with 0 percent financing deals dead for the most part

There is a shift into buying used cars (coming off leases) . I think that?s a smarter way to go now .

@Fortune

I am in the market for slight used luxury sedan, where do you recommend to search and look for deals? Thanks

Lightly used German cars which depreciate like a brick but are really solid and reliable esp w the 6 cyl  ? the 2017 model year 540i comes to mind off the top of my head (so like 2 y old)  ? these cars are generally low maintenance for upto 5y but you can always purchase the extended warranty online .

If you like suvs, also look at the used x5 which will have better value now given the new model is out

 

[id_rather_be_racing]

I think there is a media bias. I barely here about housing decline on the radio.

They are usually late to the party . When it starts to get covered extensively in the popular media , it will be the time to buy

Also, I don?t here that much the auto sales decline.
https://www.google.com/amp/s/amp.usatoday.com/amp/1457549002

New cars have become too expensive, especially once you factor in the higher monthlies now with 0 percent financing deals dead for the most part

There is a shift into buying used cars (coming off leases) . I think that?s a smarter way to go now .

@Fortune

I am in the market for slight used luxury sedan, where do you recommend to search and look for deals? Thanks

autotempest.com (aggregates listings from all of the major auto search sites)
leasehackr.com (amazing lease deals to be had if you are brand-flexible)
swapalease (i've found amazing lease takeover deals if that's your thing, used it extensively to look for an M3/M4 but never found the spec I wanted)

 

[Irvine Dream]

Here is a listing that will be reducing prices soon.
https://www.redfin.com/CA/Irvine/50-Westover-92620/home/51684650

40% reduction soon  >

 

[Cares]

Here is a listing that will be reducing prices soon.
https://www.redfin.com/CA/Irvine/50-Westover-92620/home/51684650

40% reduction soon  >

WTF? More than 100% appreciate in less than 3 years?

That is a huge lot though with virtually no neighbors.

 

[sgip]

Lot size or no, when your nearest closed comp is $1m off this price, you know changes are coming soon. The home also sides to a relatively busy street which isn't bueno for price either.

My .02c

 

[Mety]

Take a look at this home that just got sold:https://www.redfin.com/CA/Irvine/181-Pathway-92618/home/45377541

This is a home that was listed at $799k back in June and it reduced the price 5 times and it still got sold way below the last asking price. This detached, almost 1800sq home is sold at $700k! $700K? That's way below than the attached product with whopping HOA fees called, Delano from EW. There are homes with the same/similar floor plans priced above $800k around that PS area. Are those going to survive or going to suffer 100+ days on the market and get nowhere but to reduce the price or are they just going to get delisted?

On the winning notes, the seller still made about 27% appreciation from 2012 so it's not so sad ending I guess.

 

[eyephone]

Take a look at this home that just got sold:https://www.redfin.com/CA/Irvine/181-Pathway-92618/home/45377541

This is a home that was listed at $799k back in June and it reduced the price 5 times and it still got sold way below the last asking price. This detached, almost 1800sq home is sold at $700k! $700K? That's way below than the attached product with whopping HOA fees called, Delano from EW. There are homes with the same/similar floor plans priced above $800k around that PS area. Are those going to survive or going to suffer 100+ days on the market and get nowhere but to reduce the price or are they just going to get delisted?

On the winning notes, the seller still made about 27% appreciation from 2012 so it's not so sad ending I guess.

$100k difference wow
But better sell now than later (cliff hanger)