Inventory creeping up?

So is there a "sweet spot price" these days on resale homes?  What price range garners the most offers in Irvine,  like 10+ offers compared to 2-3?
 
furioussugar said:
So is there a "sweet spot price" these days on resale homes?  What price range garners the most offers in Irvine,  like 10+ offers compared to 2-3?
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$600k to $900k is the sweet spot in Irvine.
 
irvinehomeshopper said:
qwerty said:
For $50/hour I can also hangout in the kitchen of the open house in a wife beater and some dickies
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Make sure the buyers don't mistaken you as the gardener going in to get a drink of water.
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I was about to say...Chinese FCBs are scared of brothers...not lowriders.
 
Irvinecommuter said:
I was about to say...Chinese FCBs are scared of brothers...not lowriders.
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Yup, tell wifey everyday, " the brown man come to work on home, the brotha man come to steal home!"
 
OK then I will round up IHO's pick up basketball buddies and takes them to the open house. I bet all of them combined have a lower hourly rate than Qwerty and the brothers are far more endowed than our resident gardener.

My Ridiculously Long That's Wat She Said Yellowneck USERName said:
Irvinecommuter said:
I was about to say...Chinese FCBs are scared of brothers...not lowriders.
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Yup, tell wifey everyday, " the brown man come to work on home, the brotha man come to steal home!"
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About high school. I *heard* that there is a plan for a new highschool that feeds WB, SG, PS... maybe Cypress Village and *possibly* great park area? Like in a few years?
 
test said:
rickr said:
357 today
+33 from last week

I believe the tide has started to turn. Rates are also starting to rise.



rickr said:
324 on Redfin this morning.
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Law of Supply:  Increase in price results in increase of supply.
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About time...but on the downside we are still only at 1.5 months of inventory (strong seller's market).  Some of those new listings aren't even real in my mind since they are asking for 10%+ over the most recent comps.  We need about 900-1,000 active listings (4 months of inventory) to get to a neutral market.
 
Its a start. You can't go from 200 to 900 overnight.

I do think this is a significant shift considering we were hovering around the 200 range just 45-60 days ago. I'm sorry but when I am seeing 1400 sq ft homes being listed for 650K in Woodbury and PS, I think we have reached bubble pricing.




USCTrojanCPA said:
test said:
rickr said:
357 today
+33 from last week

I believe the tide has started to turn. Rates are also starting to rise.



rickr said:
324 on Redfin this morning.
Click to expand...
Click to expand...

Law of Supply:  Increase in price results in increase of supply.
Click to expand...
About time...but on the downside we are still only at 1.5 months of inventory (strong seller's market).  Some of those new listings aren't even real in my mind since they are asking for 10%+ over the most recent comps.  We need about 900-1,000 active listings (4 months of inventory) to get to a neutral market.
Click to expand...
 
rickr said:
Its a start. You can't go from 200 to 900 overnight.

I do think this is a significant shift considering we were hovering around the 200 range just 45-60 days ago. I'm sorry but when I am seeing 1400 sq ft homes being listed for 650K in Woodbury and PS, I think we have reached bubble pricing.




USCTrojanCPA said:
test said:
rickr said:
357 today
+33 from last week

I believe the tide has started to turn. Rates are also starting to rise.



rickr said:
324 on Redfin this morning.
Click to expand...
Click to expand...

Law of Supply:  Increase in price results in increase of supply.
Click to expand...
About time...but on the downside we are still only at 1.5 months of inventory (strong seller's market).  Some of those new listings aren't even real in my mind since they are asking for 10%+ over the most recent comps.  We need about 900-1,000 active listings (4 months of inventory) to get to a neutral market.
Click to expand...
Click to expand...
Yeah, the trend is definitely good for buyers but also remember that we are getting into the Summer selling season so the additional inventory is a welcome site.  Don't expect prices to drop until inventory levels triple from here.
 
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