Irvine listings STILL going pending amid COVID-19

aquabliss said:
Looks like about 35 Open Houses this weekend in Irvine.  This lockdown is working great. 
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Wow, the realtor association sent out an email earlier this week highly recommending that open houses be cancelled and that agents promote virtual showings and limit showings to one buyer in the home at a time.  There was no way I was going to do open houses on both of my active listings this week, my parents are in their late 60s (step dad in his 70s) so I'm not about to risk getting infected. Talk about tone deaf realtors.
 
Novel Park has raised prices in the last couple of weeks. Does COVID-19 make this neighborhood more desirable somehow?
 
The realtor association sent out an email for all realtors to stop open houses and disabled the open house section on MLS, about time in my opinion. 
 
peregrine said:
Novel Park has raised prices in the last couple of weeks. Does COVID-19 make this neighborhood more desirable somehow?
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Only reason that I can think of why is that the lower end of the market is still doing well (my Lake Forest condo has 6 offers now and I heard that the Montara phase release on Friday sold within hours).
 
USCTrojanCPA said:
The realtor association sent out an email for all realtors to stop open houses and disabled the open house section on MLS, about time in my opinion.
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They also said that no inspections should occur so I don't know how a transaction is going to possibly close in a timely fashion. Coronavirus addendum is also available for all transactions to allow delays.
 
Cares said:
USCTrojanCPA said:
The realtor association sent out an email for all realtors to stop open houses and disabled the open house section on MLS, about time in my opinion.
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They also said that no inspections should occur so I don't know how a transaction is going to possibly close in a timely fashion. Coronavirus addendum is also available for all transactions to allow delays.
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This is an interesting one.  Seems like the inspector should be able to do their job solo, not sure why this restriction is in place?  So only way to close is if the buyer waives their right to inspection I suppose?

What is the Coronavirus addendum?
 
If they aren't allowing inspectors, are the banks/lenders still letting appraisers go into people's homes?  There's a ton of refis out there and I guess purchases based on this thread.
 
akkord said:
If they aren't allowing inspectors, are the banks/lenders still letting appraisers go into people's homes?  There's a ton of refis out there and I guess purchases based on this thread.
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I am personally refi'ing my investment property and my appraiser went out last Thursday. He said he's finishing up his open cases and not taking any new ones.
 
irvinehomeowner said:
Where is Kenkoko with his AI and robots that can do these inspections for us virus-free? :)
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My AI and robots are busy scouting for the world's hottest new currency - toilet papers AKA buttcoin.
 
Mety said:
He's gone as the stock went up again. JK.
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Yes, this is me posting from my bunker.  >:D

While my overall aggregate position is shorting, my bigger play is actually on exploiting the increased volatility with my option straddles.

I rarely agree with Morekaos, but this is indeed trader's dream and investor's nightmare.
 
aquabliss said:
Cares said:
USCTrojanCPA said:
The realtor association sent out an email for all realtors to stop open houses and disabled the open house section on MLS, about time in my opinion.
Click to expand...

They also said that no inspections should occur so I don't know how a transaction is going to possibly close in a timely fashion. Coronavirus addendum is also available for all transactions to allow delays.
Click to expand...

This is an interesting one.  Seems like the inspector should be able to do their job solo, not sure why this restriction is in place?  So only way to close is if the buyer waives their right to inspection I suppose?

What is the Coronavirus addendum?
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I got a buyer into escrow on a resale listing on Monday and scheduled the home inspector for Friday. I was told to only open the door for him and no one is to be inside while he does his inspection other than me but we should remain at least 6 people apart at all times.
 
Biggest obstacle atm are listing agents who take the CAR suggestions as gospel and are not taking any appoints to show their listings or steps to move property. Has my buyers aggravated to say the least.
 
So I'm from the Bay Area, Fremont - Alameda County, and our home was about to get listed last weekend w/ Open House when the Shelter In Place ordinance went into effect. Then LA/OC followed with something similar, and the Gov. issued a statewide Shelter in Place ordinance later in the week.

We ended up not listing and canceled our Open House. And I'm hearing a lot of buyers backed out of their offers due to the uncertainty. That said, seems like the county has closed shop w/ no recordings taking place and our realtor is not doing private showings and recommended we hold off indefinitely. I brought up what I'm reading here about private showings and deals still going on in Irvine, and he was not open to the idea due to potential infections and health risks.

I'm hoping the social distancing, increased avail. of testing, and shelter in place measures make a good impact and we can see our economy and housing market steadily open back up in April.

Below is our realtor's ad for our home:

http://www.33515mavericklp.com/
 
mhanism said:
So I'm from the Bay Area, Fremont - Alameda County, and our home was about to get listed last weekend w/ Open House when the Shelter In Place ordinance went into effect. Then LA/OC followed with something similar, and the Gov. issued a statewide Shelter in Place ordinance later in the week.

We ended up not listing and canceled our Open House. And I'm hearing a lot of buyers backed out of their offers due to the uncertainty. That said, seems like the county has closed shop w/ no recordings taking place and our realtor is not doing private showings and recommended we hold off indefinitely. I brought up what I'm reading here about private showings and deals still going on in Irvine, and he was not open to the idea due to potential infections and health risks.

I'm hoping the social distancing, increased avail. of testing, and shelter in place measures make a good impact and we can see our economy and housing market steadily open back up in April.

Below is our realtor's ad for our home:

http://www.33515mavericklp.com/
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That's a nice home. 3CWG! That's something you can't find among new homes in Irvine. Why are you thinking of moving here? You already have a nice home there.

 
Mety said:
That's a nice home. 3CWG! That's something you can't find among new homes in Irvine. Why are you thinking of moving here? You already have a nice home there.
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Agreed. 3200sft new homes in Irvine don't have 3CWG or as nice a floorplan. Who is the builder? They should make homes like these in Irvine.
 
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