Irvine listings STILL going pending amid COVID-19

Dr. CA Real Estate said:
Is this rarity of 3 car garages in Irvine a meme? There?s over 100 available on market
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I think they're rear among new ones. Homes from 70s-90s have some though.
 
Thank you! It's a KB Home, built in 2018. We put a lot into it ourselves - hardwood floors + rounded baseboards, paint, hardware, etc.

Reason for move is to get back to where we're from and be closer to family and friends down there. Also mood down in So Cal and OC is very different than what the Bay has become the past few years, that is much more balanced between work and personal life. The Bay has become all about the grind, which is fine, but gets tiresome after a while. Plus you can't beat So. Cal weather + beaches. 
 
mhanism, May I ask where you purchased the sectional in your great room? 

Is it Crate & Barrel Axis II?  I really like it, and I?m in the market for a new sectional.  Thanks!
 
Yes! It's the Axis II in the stock color. It's actually our 2nd Axis sectional. Make sure to take advantage of CB's upholstery sale to get discounts.
 
How are the landlords handling the situations when looking for new tenant?

My tenant is not renewing lease because his job has been impacted with this crisis and he is going to move out of state. He has given me 30 days notice. The Realtor tells me that they cannot show homes to potential tenants until the current one moves out. Even with vacant property, I am told that the showings will be limited and advised to price aggressively. Alternatively, I have to plan to have the property stay vacant during these times. I am okay to lower my rent but if I can't find tenant for next 4-5 months it's gonna get difficult.

How are others handling this? We have mortgage payments to make on the rental, RE taxes, HOA etc and if market continues to be this way for next 4-5 months, will mortgage servicers give us the option to postpone payments since we don't have a tenant?
 
I just got an advertisement email from Zillow Rental this morning promoting their virtual tour app (https://www.zillow.com/marketing/3d-home/).

To be honest I'm hoping my tenant stay put for the time being and is able to pay the rent, not really prepared for much more than this.
 
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Irvinehomeseeker said:
How are the landlords handling the situations when looking for new tenant?

My tenant is not renewing lease because his job has been impacted with this crisis and he is going to move out of state. He has given me 30 days notice. The Realtor tells me that they cannot show homes to potential tenants until the current one moves out. Even with vacant property, I am told that the showings will be limited and advised to price aggressively. Alternatively, I have to plan to have the property stay vacant during these times. I am okay to lower my rent but if I can't find tenant for next 4-5 months it's gonna get difficult.

How are others handling this? We have mortgage payments to make on the rental, RE taxes, HOA etc and if market continues to be this way for next 4-5 months, will mortgage servicers give us the option to postpone payments since we don't have a tenant?
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Thanks for bringing this type of scenario up.

Many business transactions are at risk which is why we need to think of a way to be able to do things and keep people safe at the same time.
 
Things can change rapidly. My tenant was fine to renew lease 2 months ago when I had checked but just in the last 3 weeks, things have changed on his end...so I am now about to look for a new tenant.
 
Irvinehomeseeker said:
How are the landlords handling the situations when looking for new tenant?

My tenant is not renewing lease because his job has been impacted with this crisis and he is going to move out of state. He has given me 30 days notice. The Realtor tells me that they cannot show homes to potential tenants until the current one moves out. Even with vacant property, I am told that the showings will be limited and advised to price aggressively. Alternatively, I have to plan to have the property stay vacant during these times. I am okay to lower my rent but if I can't find tenant for next 4-5 months it's gonna get difficult.

How are others handling this? We have mortgage payments to make on the rental, RE taxes, HOA etc and if market continues to be this way for next 4-5 months, will mortgage servicers give us the option to postpone payments since we don't have a tenant?
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I've leased out 2 rentals in the past few weeks for clients.  You'll just need to price your rental competitively.  I've done FaceTime walk through tours with a few perspective tenants who were concerned about social distancing. I do have another rental listing coming up in Foothill Ranch in a few weeks and maybe one of my sale listings will become a rental.
 
mhanism said:
Thank you! It's a KB Home, built in 2018. We put a lot into it ourselves - hardwood floors + rounded baseboards, paint, hardware, etc.

Reason for move is to get back to where we're from and be closer to family and friends down there. Also mood down in So Cal and OC is very different than what the Bay has become the past few years, that is much more balanced between work and personal life. The Bay has become all about the grind, which is fine, but gets tiresome after a while. Plus you can't beat So. Cal weather + beaches.
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We live in Almaden Valley, and constantly toy with the idea of moving back, but for me would be career suicide in terms of taking me out of the highest paying job market in the country and away from the exec leadership team. No such issues for you?

What HS is your districted into?
 
We?re in Fremont Unified, with pretty good schools.

Yeah, it?s been a debate for us too, and with this whole COVID-19 situation, a very small part of us are rethinking our move or at least delaying it another year. As of now, we?re pushing back our moving timeline from June to September with the hope things improve in April, May.

I work for a Big 4 accounting firm, and I?d be able to travel and serve both the Valley and So Cal markets. Irvine is key with John Wayne being a close and easy airport. My wife is in finance and would be giving up the Mecca of finance jobs however...


OCtoSV said:
mhanism said:
Thank you! It's a KB Home, built in 2018. We put a lot into it ourselves - hardwood floors + rounded baseboards, paint, hardware, etc.

Reason for move is to get back to where we're from and be closer to family and friends down there. Also mood down in So Cal and OC is very different than what the Bay has become the past few years, that is much more balanced between work and personal life. The Bay has become all about the grind, which is fine, but gets tiresome after a while. Plus you can't beat So. Cal weather + beaches.
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We live in Almaden Valley, and constantly toy with the idea of moving back, but for me would be career suicide in terms of taking me out of the highest paying job market in the country and away from the exec leadership team. No such issues for you?

What HS is your districted into?
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Irvinehomeseeker said:
How are the landlords handling the situations when looking for new tenant?

My tenant is not renewing lease because his job has been impacted with this crisis and he is going to move out of state. He has given me 30 days notice. The Realtor tells me that they cannot show homes to potential tenants until the current one moves out. Even with vacant property, I am told that the showings will be limited and advised to price aggressively. Alternatively, I have to plan to have the property stay vacant during these times. I am okay to lower my rent but if I can't find tenant for next 4-5 months it's gonna get difficult.

How are others handling this? We have mortgage payments to make on the rental, RE taxes, HOA etc and if market continues to be this way for next 4-5 months, will mortgage servicers give us the option to postpone payments since we don't have a tenant?
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You can request forbearance with your bank now. It might take some time for the bank to approve your request. Besides pricing it competitively, make sure your agent takes great pictures and a "walkthrough" style video showing both outside and inside of the property. I'd upload it to YouTube and include a link in the property description.
 
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