$659/sq ft for a nice house in a nice area - good news for the buyers, bad news for comps
https://www.redfin.com/CA/Irvine/11-Ticonderoga-92620/home/4778533
https://www.redfin.com/CA/Irvine/11-Ticonderoga-92620/home/4778533
OCtoSV said:$659/sq ft for a nice house in a nice area - good news for the buyers, bad news for comps
https://www.redfin.com/CA/Irvine/11-Ticonderoga-92620/home/4778533
OCtoSV said:$659/sq ft for a nice house in a nice area - good news for the buyers, bad news for comps
https://www.redfin.com/CA/Irvine/11-Ticonderoga-92620/home/4778533
OCtoSV said:$659/sq ft for a nice house in a nice area - good news for the buyers, bad news for comps
https://www.redfin.com/CA/Irvine/11-Ticonderoga-92620/home/4778533
Ready2Downsize said:I know that area very well. If you're looking at buying a house that age in that general area, look for Windstream or Canyon Creek. Both of those neighborhoods were originally sold to executives and doctors and were semi custom, much much better quality than the surrounding homes which are part of the Park Paseo HOA. They are both gated with their own pools and some back or face the hicks canyon trail.
For me........ too old but if you're looking for something like Ticonderoga, see if you can find something in WS or CC. Be on the lookout for laundry in the garage though. At that time, even some of those have that instead of inside laundry.
irviniteeee said:Ready2Downsize said:I know that area very well. If you're looking at buying a house that age in that general area, look for Windstream or Canyon Creek. Both of those neighborhoods were originally sold to executives and doctors and were semi custom, much much better quality than the surrounding homes which are part of the Park Paseo HOA. They are both gated with their own pools and some back or face the hicks canyon trail.
For me........ too old but if you're looking for something like Ticonderoga, see if you can find something in WS or CC. Be on the lookout for laundry in the garage though. At that time, even some of those have that instead of inside laundry.
Windstream/Canyon Creek are definitely higher end if looking in NW, but aren't some of the homes around park paseo J.M. Peters homes? Those are known for being very high quality for that time. I know many people prefer to buy the J.M. Peters homes in Woodbridge for that reason.
OCtoSV said:appreciate the datapoints. Ticonderoga was the nicest of all properties listed with the best interior location by the park, with 34 Colonial equally nice. Pool without a companion grass yard is a bug turnoff for me. Best neighborhhod curb appeal as well using the Street View function.
The big takeaway for me is that the Irvine premium for $/sq ft has vanished compared to nicer parts of South OC with inferior schools, and that Irvine resales offer the highest value as so many of today's buyers are drawn to the bling of new construction. As boomers like my parents put those NW homes on the market as they leave the area this glut of discounted resales will impact overrall Irvine pricing.
This very nice but corner situated 3/2 single level in MV sells at a $/sq ft premium. I doubt they'll get it but the buyer pools for Irvine and MV I suspect are radically idfferent, with the MV buyer likely valuing the outdoor space and amenities of Lake MV more than the Irvine buyer being attracted by those qualities.
https://www.redfin.com/CA/Mission-Viejo/22171-Duende-92691/home/5107817
OCtoSV said:appreciate the datapoints. Ticonderoga was the nicest of all properties listed with the best interior location by the park, with 34 Colonial equally nice. Pool without a companion grass yard is a bug turnoff for me. Best neighborhhod curb appeal as well using the Street View function.
The big takeaway for me is that the Irvine premium for $/sq ft has vanished compared to nicer parts of South OC with inferior schools, and that Irvine resales offer the highest value as so many of today's buyers are drawn to the bling of new construction. As boomers like my parents put those NW homes on the market as they leave the area this glut of discounted resales will impact overrall Irvine pricing.
This very nice but corner situated 3/2 single level in MV sells at a $/sq ft premium. I doubt they'll get it but the buyer pools for Irvine and MV I suspect are radically idfferent, with the MV buyer likely valuing the outdoor space and amenities of Lake MV more than the Irvine buyer being attracted by those qualities.
https://www.redfin.com/CA/Mission-Viejo/22171-Duende-92691/home/5107817
Ready2Downsize said:OCtoSV said:appreciate the datapoints. Ticonderoga was the nicest of all properties listed with the best interior location by the park, with 34 Colonial equally nice. Pool without a companion grass yard is a bug turnoff for me. Best neighborhhod curb appeal as well using the Street View function.
The big takeaway for me is that the Irvine premium for $/sq ft has vanished compared to nicer parts of South OC with inferior schools, and that Irvine resales offer the highest value as so many of today's buyers are drawn to the bling of new construction. As boomers like my parents put those NW homes on the market as they leave the area this glut of discounted resales will impact overrall Irvine pricing.
This very nice but corner situated 3/2 single level in MV sells at a $/sq ft premium. I doubt they'll get it but the buyer pools for Irvine and MV I suspect are radically idfferent, with the MV buyer likely valuing the outdoor space and amenities of Lake MV more than the Irvine buyer being attracted by those qualities.
https://www.redfin.com/CA/Mission-Viejo/22171-Duende-92691/home/5107817
Tried to find something comparable to Ticonderoga in MV and couldn't. The area is older and most houses have pools.
But this should do for now:
https://www.redfin.com/CA/Mission-Viejo/27212-Calle-Del-Cid-92691/home/5017701
So which got the premium? Irvine, no view or MV with the view?
I've looked at recent closings in Irvine and most are below asking. So Irvine is slowing as well. Probably not as much as other areas due to FCB. FCB causes Irvine market to hold up. You take away FCB and Irvine isn't going to be any different than other areas in OC.USCTrojanCPA said:From speaking with my lenders, Irvine homes are still moving albeit at slightly lower prices while agents in North and South OC are saying it's really slow.
sleepy5136 said:I've looked at recent closings in Irvine and most are below asking. So Irvine is slowing as well. Probably not as much as other areas due to FCB. FCB causes Irvine market to hold up. You take away FCB and Irvine isn't going to be any different than other areas in OC.USCTrojanCPA said:From speaking with my lenders, Irvine homes are still moving albeit at slightly lower prices while agents in North and South OC are saying it's really slow.
I do still see a lot of homeowners pricing their homes pretty high so those are sitting longer than expected. I also see those SFH on a motorcourt in BR but those are having their asking price cut by 100k+ in order to sale due to homeowners not realizing a SFH shouldn't have a motorcourt.
I agree. Do you know if these recent closings are due to agents/sellers being unreasonable with their asking price? Or are they reasonable and the market is simply slowing? Irvine that is.USCTrojanCPA said:sleepy5136 said:I've looked at recent closings in Irvine and most are below asking. So Irvine is slowing as well. Probably not as much as other areas due to FCB. FCB causes Irvine market to hold up. You take away FCB and Irvine isn't going to be any different than other areas in OC.USCTrojanCPA said:From speaking with my lenders, Irvine homes are still moving albeit at slightly lower prices while agents in North and South OC are saying it's really slow.
I do still see a lot of homeowners pricing their homes pretty high so those are sitting longer than expected. I also see those SFH on a motorcourt in BR but those are having their asking price cut by 100k+ in order to sale due to homeowners not realizing a SFH shouldn't have a motorcourt.
Yeah, prices are definitely drifting lower in Irvine and will probably continue to do so but we aren't falling off a cliff.
sleepy5136 said:I agree. Do you know if these recent closings are due to agents/sellers being unreasonable with their asking price? Or are they reasonable and the market is simply slowing? Irvine that is.USCTrojanCPA said:sleepy5136 said:I've looked at recent closings in Irvine and most are below asking. So Irvine is slowing as well. Probably not as much as other areas due to FCB. FCB causes Irvine market to hold up. You take away FCB and Irvine isn't going to be any different than other areas in OC.USCTrojanCPA said:From speaking with my lenders, Irvine homes are still moving albeit at slightly lower prices while agents in North and South OC are saying it's really slow.
I do still see a lot of homeowners pricing their homes pretty high so those are sitting longer than expected. I also see those SFH on a motorcourt in BR but those are having their asking price cut by 100k+ in order to sale due to homeowners not realizing a SFH shouldn't have a motorcourt.
Yeah, prices are definitely drifting lower in Irvine and will probably continue to do so but we aren't falling off a cliff.
BR folks I feel are pricing way too high.
Thanks USC. What is the best you've seen for 30 yr jumbo currently?USCTrojanCPA said:sleepy5136 said:I've looked at recent closings in Irvine and most are below asking. So Irvine is slowing as well. Probably not as much as other areas due to FCB. FCB causes Irvine market to hold up. You take away FCB and Irvine isn't going to be any different than other areas in OC.USCTrojanCPA said:From speaking with my lenders, Irvine homes are still moving albeit at slightly lower prices while agents in North and South OC are saying it's really slow.
I do still see a lot of homeowners pricing their homes pretty high so those are sitting longer than expected. I also see those SFH on a motorcourt in BR but those are having their asking price cut by 100k+ in order to sale due to homeowners not realizing a SFH shouldn't have a motorcourt.
Yeah, prices are definitely drifting lower in Irvine and will probably continue to do so but we aren't falling off a cliff.
Ready2Downsize said:Even though prices are off their peak, LL was here saying not to buy with prices MUCH MUCH lower than they are now. Of course he will say see! Told you! But when prices are higher than when he started yapping it's not really all that accurate and when u consider payments being much lower than if someone were to buy now, how is that harming anyone? If someone wanted to flip a house, their own darn fault.