vsfan
Active member
I do see some listing dropping asking nowadays, but obviously 3M -> 2.5M is not brining in buyers that fast.
How low can we go? 30 yr fixed at 3.75% with no fees...
- Thread starter ps99472
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Scroll Redfin or Zillow for a bit. There's been a lot of price drops lately, even in Irvine. I expect it will continue in the near term.
GrowthStateofMind
Active member
Many long-time homeowners are deep in equity and don’t want to give up their 2.7-3% mortgages from a few years ago, makes sense why motivated sellers are few and far between right now.
sleepy5136
Well-known member
I still remember realtors saying rates will drop during 2022/2023 and to lock in the price now. Anyone that listened to that is feeling the pain and clearly demonstrates how one can never predict what rates will be
Liar Loan
Well-known member
They are taking their victory laps.
someguy
Well-known member
Scroll Redfin or Zillow for a bit. There's been a lot of price drops lately, even in Irvine. I expect it will continue in the near term.
irvinehomeowner
Well-known member
Not back to prices when rates were 3% or lower. 
The Motor Court Company
Well-known member
only in SoCal though. Tech bros in the Bay Area are still buying houses and left and right with their AI inflated RSUs
someguy
Well-known member
Lol, yes you're right. My literal bro, who is a tech bro in the bay area sitting on big RSU gains, experiences the effects of this. He is on the missed out side of the homeownership equation in his favorite city, Los Altos. Despite his solid performance and tenure at a well known bay area big tech firm and big gains on his RSUs, he unfortunately cannot afford to buy a SFH up there. He says many of the people who can afford to own an SFH there (and it's surprising that many of his co-workers actually commute in from absurd distances, some even from so-cal!) either bought before prices (of homes and AI/Tech stock) went nuts or are DINKs with combined W-2s approaching $1M often with huge RSU gains to boot. It's wild up there.