Irvine Homes and Real Estate

[panda]

IHO, Work has gotten very busy. I will upload the most recent data when I have some downtime. Thanks for your patience.

What is the YOY same time period median price comparison?

Panda... are you ignoring me?

 

[irvinehomeowner]

IHO, Work has gotten very busy. I will upload the most recent data when I have some downtime. Thanks for your patience.

What is the YOY same time period median price comparison?

Panda... are you ignoring me?

Ah... no worries. Good to hear you are busy.

How is it going with you with Covid down there? Lots of controversy over Georgia trying to reopen given still a high number of cases there.

 

[panda]

Irvine, California Real Estate Market Analysis
SFR Transactions from 01/01/2020 - 03/31/2020

Total SFR Transactions: 313
Median : $1,260,000
Min: $557,000
Max: $7,775,000
Median PPSF: $477.34
Median Built: 1970

Homes Sold (Jan 2020) 83 Units: $1,195,000 Median $471.67 PPSF
Homes Sold (February, 2020) 80 Units: $1,245,000 Median $458.05 PPSF
Homes Sold (March, 2020) 97 Units: $1,306,875 Median $495.02 PPSF
Homes Sold (April, 2020) 53 Units: $1,350,000 Median $498.79 PPSF

April Sales for Irvine SFR is down 45% compared to March numbers. I will continue to monitor this data.

 

[panda]

IHO, sorry for the delay. Above is the latest data for the SFR Transactions in Irvine for 2020. Due to the Corona lock down, the April Sales for Irvine SFR is down 45% compared to March numbers. I will continue to monitor this data.

 

[irvinehomeowner]

Actually was looking for median price from last year to this year.

Redfin says it?s up but LLfin says it?s down for the last 500 years.

 

[Liar Loan]

The fear is palpable.

 

[irvinehomeowner]

I'm not worried at all.

More worried about non-Irvine LL properties... just like the last downturn.

 

[Liar Loan]

I'm not worried at all.

More worried about non-Irvine LL properties... just like the last downturn.

Why do you think I been selling? 

 

[Liar Loan]

Here is what happened to jumbo credit availability in March (hint: Armageddon):

https://mortgageorb.com/mortgage-credit-availability-fell-16-1-in-march

Credit availability for jumbo loans fell the most ? 36.9% ? while credit for conforming loans fell by 2.7%.

?There was a reduction in the availability of loans with lower credit scores and higher LTV ratios, and the largest pullback came from the jumbo and non-QM space,? says Joel Kan, Associate Vice President of Economic and Industry Forecasting for the MBA, in a statement. ?This month?s release highlights the large retreat from jumbo and non-QM investors due to a sharp drop in liquidity.

Followed by another GUT-WRENCHING decline in April:

https://www.housingwire.com/articles/it-hasnt-been-this-hard-to-get-a-mortgage-in-more-than-five-years/

The MBA report showed that the decline in credit availability was seen across all segments of the mortgage business, although the decline was the most significant in jumbo loans. According to the MBA report, the jumbo MCAI fell by 22.6% in April, continuing a steep decline that began in March.

Poof!...HALF the jumbo loan market just went UP IN SMOKE!!!

 

[Cares]

Here is what happened to jumbo credit availability in March (hint: Armageddon):

https://mortgageorb.com/mortgage-credit-availability-fell-16-1-in-march

Credit availability for jumbo loans fell the most ? 36.9% ? while credit for conforming loans fell by 2.7%.

?There was a reduction in the availability of loans with lower credit scores and higher LTV ratios, and the largest pullback came from the jumbo and non-QM space,? says Joel Kan, Associate Vice President of Economic and Industry Forecasting for the MBA, in a statement. ?This month?s release highlights the large retreat from jumbo and non-QM investors due to a sharp drop in liquidity.

Followed by another GUT-WRENCHING decline in April:

https://www.housingwire.com/articles/it-hasnt-been-this-hard-to-get-a-mortgage-in-more-than-five-years/

The MBA report showed that the decline in credit availability was seen across all segments of the mortgage business, although the decline was the most significant in jumbo loans. According to the MBA report, the jumbo MCAI fell by 22.6% in April, continuing a steep decline that began in March.

Poof!...HALF the jumbo loan market just went UP IN SMOKE!!!

Consistent with what I'm seeing. Harder to find jumbo loans because private investors are pulling out. Not to mention there is also a lending liquidity problem as well.