How are Irvine homes selling?

irvine_home_owner_IHB

irvine_home_owner_IHB

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Most topics seem to approach Irvine RE from the buyer's point of view but I was wondering if anyone out there (realtors, homeowners, REO-related) can tell us how sales of Irvine homes are going.



usctrojanman gave us some perspective from his KCs... err... buyers... but what about sellers? That was what got me hooked on this forum was the threads from usc and IPO and what they did to sell their homes.



I don't see a lot of inventory out there... where I live now, there are only a few that are in my size range (they are in the OMG price range though) and in the area where I sold my house last year... there are no homes currently available at all. Makes me wonder if I held out until now, if I could have got a better price since there is barely any competition in sellers and supposedly lots of buyers with cash.



So... if you're in the know... howzit from a seller's POV?
 
[quote author="irvine_home_owner" date=1249448105]Most topics seem to approach Irvine RE from the buyer's point of view but I was wondering if anyone out there (realtors, homeowners, REO-related) can tell us how sales of Irvine homes are going.



usctrojanman gave us some perspective from his KCs... err... buyers... but what about sellers? That was what got me hooked on this forum was the threads from usc and IPO and what they did to sell their homes.



I don't see a lot of inventory out there... where I live now, there are only a few that are in my size range (they are in the OMG price range though) and in the area where I sold my house last year... there are no homes currently available at all. Makes me wonder if I held out until now, if I could have got a better price since there is barely any competition in sellers and supposedly lots of buyers with cash.



So... if you're in the know... howzit from a seller's POV?</blockquote>
Even though my clients are only buyers at this point, I have spoken to several listing agents. What I'm finding is that most organic (non-short sale) listings that are reasonable prices are forced sales (i.e. relocation, death, or divorce). The organic sellers who have OMG WFT list prices tend to be sellers fishing for a sucker...err buyer...because they see the lack inventory on the market. I've delt with the listing agent and the sellers for 115 Ambiance and let's just say that they are unwilling to even counter an appropriate offer. The fact of the matter is that if listings are priced correctly they will get into escrow within a week or two. It's probably a good time to sell a home in Irvine (and most of Orange County) now as their is little competition on the market. Lenders and appraisers will keep the prices from taking off like they did back during the bubble days.
 
[quote author="usctrojanman29" date=1249451060][quote author="irvine_home_owner" date=1249448105]Most topics seem to approach Irvine RE from the buyer's point of view but I was wondering if anyone out there (realtors, homeowners, REO-related) can tell us how sales of Irvine homes are going.



usctrojanman gave us some perspective from his KCs... err... buyers... but what about sellers? That was what got me hooked on this forum was the threads from usc and IPO and what they did to sell their homes.



I don't see a lot of inventory out there... where I live now, there are only a few that are in my size range (they are in the OMG price range though) and in the area where I sold my house last year... there are no homes currently available at all. Makes me wonder if I held out until now, if I could have got a better price since there is barely any competition in sellers and supposedly lots of buyers with cash.



So... if you're in the know... howzit from a seller's POV?</blockquote>
Even though my clients are only buyers at this point, I have spoken to several listing agents. What I'm finding is that most organic (non-short sale) listings that are reasonable prices are forced sales (i.e. relocation, death, or divorce). The organic sellers who have OMG WFT list prices tend to be sellers fishing for a sucker...err buyer...because they see the lack inventory on the market. I've delt with the listing agent and the sellers for 115 Ambiance and let's just say that they are unwilling to even counter an appropriate offer. The fact of the matter is that if listings are priced correctly they will get into escrow within a week or two. It's probably a good time to sell a home in Irvine (and most of Orange County) now as their is little competition on the market. Lenders and appraisers will keep the prices from taking off like they did back during the bubble days.</blockquote>
I am unfamiliar with most of Orange County, but there is a 14 year inventory of over $2 mil homes in Coto.
 
[quote author="awgee" date=1249462362][quote author="usctrojanman29" date=1249451060][quote author="irvine_home_owner" date=1249448105]Most topics seem to approach Irvine RE from the buyer's point of view but I was wondering if anyone out there (realtors, homeowners, REO-related) can tell us how sales of Irvine homes are going.



usctrojanman gave us some perspective from his KCs... err... buyers... but what about sellers? That was what got me hooked on this forum was the threads from usc and IPO and what they did to sell their homes.



I don't see a lot of inventory out there... where I live now, there are only a few that are in my size range (they are in the OMG price range though) and in the area where I sold my house last year... there are no homes currently available at all. Makes me wonder if I held out until now, if I could have got a better price since there is barely any competition in sellers and supposedly lots of buyers with cash.



So... if you're in the know... howzit from a seller's POV?</blockquote>
Even though my clients are only buyers at this point, I have spoken to several listing agents. What I'm finding is that most organic (non-short sale) listings that are reasonable prices are forced sales (i.e. relocation, death, or divorce). The organic sellers who have OMG WFT list prices tend to be sellers fishing for a sucker...err buyer...because they see the lack inventory on the market. I've delt with the listing agent and the sellers for 115 Ambiance and let's just say that they are unwilling to even counter an appropriate offer. The fact of the matter is that if listings are priced correctly they will get into escrow within a week or two. It's probably a good time to sell a home in Irvine (and most of Orange County) now as their is little competition on the market. Lenders and appraisers will keep the prices from taking off like they did back during the bubble days.</blockquote>
I am unfamiliar with most of Orange County, but there is a 14 year inventory of over $2 mil homes in Coto.</blockquote>
That's exactly why I said most of Orange County where homes fall within the conforming loan limits.
 
[quote author="awgee" date=1249462362]I am unfamiliar with most of Orange County, but there is a 14 year inventory of over $2 mil homes in Coto.</blockquote>


14 year inventory. Hilarious. It would be very nice to have gobs of money right now, buying stuff on the cheap. Of course, the list prices on those houses are probably double or triple rental parity or more, so cheap is a relative term.
 
[quote author="Geotpf" date=1249508803][quote author="awgee" date=1249462362]I am unfamiliar with most of Orange County, but there is a 14 year inventory of over $2 mil homes in Coto.</blockquote>


14 year inventory. Hilarious. It would be very nice to have gobs of money right now, buying stuff on the cheap. Of course, the list prices on those houses are probably double or triple rental parity or more, so cheap is a relative term.</blockquote>


Thsoe with gobs of money are not "buying stuff on the cheap" now. They are waiting for blood to run in the streets. The reason they have gobs of money is because they are patient and are watching the knife catchers who think they are buying on the cheap.
 
[quote author="awgee" date=1249510767][quote author="Geotpf" date=1249508803][quote author="awgee" date=1249462362]I am unfamiliar with most of Orange County, but there is a 14 year inventory of over $2 mil homes in Coto.</blockquote>


14 year inventory. Hilarious. It would be very nice to have gobs of money right now, buying stuff on the cheap. Of course, the list prices on those houses are probably double or triple rental parity or more, so cheap is a relative term.</blockquote>


Thsoe with gobs of money are not "buying stuff on the cheap" now. They are waiting for blood to run in the streets. The reason they have gobs of money is because they are patient and are watching the knife catchers who think they are buying on the cheap.</blockquote>


Depends on what the stuff is. For example, the time to buy stocks was five months ago, not today. Waiting too long is just as bad as not waiting long enough.
 
[quote author="Geotpf" date=1249521220][quote author="awgee" date=1249510767][quote author="Geotpf" date=1249508803][quote author="awgee" date=1249462362]I am unfamiliar with most of Orange County, but there is a 14 year inventory of over $2 mil homes in Coto.</blockquote>


14 year inventory. Hilarious. It would be very nice to have gobs of money right now, buying stuff on the cheap. Of course, the list prices on those houses are probably double or triple rental parity or more, so cheap is a relative term.</blockquote>


Thsoe with gobs of money are not "buying stuff on the cheap" now. They are waiting for blood to run in the streets. The reason they have gobs of money is because they are patient and are watching the knife catchers who think they are buying on the cheap.</blockquote>


Depends on what the stuff is. For example, the time to buy stocks was five months ago, not today. Waiting too long is just as bad as not waiting long enough.</blockquote>
Did you buy stocks five months ago?
 
[quote author="awgee" date=1249527758][quote author="Geotpf" date=1249521220][quote author="awgee" date=1249510767][quote author="Geotpf" date=1249508803][quote author="awgee" date=1249462362]I am unfamiliar with most of Orange County, but there is a 14 year inventory of over $2 mil homes in Coto.</blockquote>


14 year inventory. Hilarious. It would be very nice to have gobs of money right now, buying stuff on the cheap. Of course, the list prices on those houses are probably double or triple rental parity or more, so cheap is a relative term.</blockquote>


Thsoe with gobs of money are not "buying stuff on the cheap" now. They are waiting for blood to run in the streets. The reason they have gobs of money is because they are patient and are watching the knife catchers who think they are buying on the cheap.</blockquote>


Depends on what the stuff is. For example, the time to buy stocks was five months ago, not today. Waiting too long is just as bad as not waiting long enough.</blockquote>
Did you buy stocks five months ago?</blockquote>


I don't have gobs of money. I was busy looking for a house at the time, which used up what little extra money I had. I did manage to not sell the few stocks I do own, though.
 
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