Johns Creek ranks #1 Best Place to Live by U.S. News & World Report

NEW -> Contingent Buyer Assistance Program
The point stands no matter which unit of measurement is used. Timing matters for primary residences in Irvine.

There are thousands of people that learned this the hard way by losing their homes, as you well know. You tried to time the market to take advantage of these poor individuals' hardship, but you didn't succeed.
 
Last edited:
Liar Loan said:
The point stands no matter which unit of measurement is used. Timing matters for primary residences in Irvine.

There are thousands of people that learned this the hard way by losing their homes, as you well know. You tried to time the market to take advantage of these poor individuals' hardship, but you didn't succeed.
Click to expand...
I'm not sure why it matters unless you're forced to sell?


When did you buy in Irvine?
 
Liar Loan said:
The point stands no matter which unit of measurement is used. Timing matters for primary residences in Irvine.

There are thousands of people that learned this the hard way by losing their homes, as you well know. You tried to time the market to take advantage of these poor individuals' hardship, but you didn't succeed.
Click to expand...
Was the root problem a matter of market timing, or more so a matter of poor risk management, over
leveraging, unqualified buyers benefiting from loose lending standards back then, and too short of a time horizon?

If someone had the means to hold through the drawdown during those years, they’d be up minimum several hundred thousand in equity now since even most modern 2 bedroom condos in Irvine are $900k and up, and there’s no SFRs in Irvine below a million nowadays.
 
Last edited:
Liar Loan said:
The point stands no matter which unit of measurement is used. Timing matters for primary residences in Irvine.

There are thousands of people that learned this the hard way by losing their homes, as you well know. You tried to time the market to take advantage of these poor individuals' hardship, but you didn't succeed.
Click to expand...
So avoiding the facts as usual when you get caught trying to misinform and then when I call you out on your data, you try to make some type of vague insult.

I'll save you the math... percentage wise, Irvine was in the lowest percentiles when it comes to foreclosures vs total number of residences. Newport Beach was one of the few that came close, most other OC cites, multiple times Irvine's foreclosure rate.

So did Irvine fare better? Yes. Did IrvineRenter "profile thousands of Irvine foreclosures in Irvine"? How could he? He didn't blog IHB daily. Just common sense makes your claim wrong.

It's okay, I know you're still hurt over your IE losses and your current location isn't doing as well as Irvine in appreciation... that's why you won't share it because you know you can't compare it to Irvine. Probably can't even compare to John's Creek.

Give it a rest... history has proven you very wrong... people who bought in Irvine every year you said not to are doing so much better than you are. That is the point that stands.

And I've proven to you that timing is not the only thing, affordability and being able to stay long term is more important. Anyone who bought during peak in 2008, was doing much better from 2013 on (and could take advantage of low rates and refis to boot).

It's embarrassing for you to be such a sore liar.
 
Liar Loan said:
The point stands no matter which unit of measurement is used. Timing matters for primary residences in Irvine.

There are thousands of people that learned this the hard way by losing their homes, as you well know. You tried to time the market to take advantage of these poor individuals' hardship, but you didn't succeed.
Click to expand...
Are you okay? Timing does not matter when buying a primary residence as a home compared to buying to flip/invest. My spouse and I bought earlier this year in Irvine; pretty much at the peak, if not already a little bit into the slide. No regrets, as we found the exact layout and neighborhood that we wanted, and we can easily afford the mortgage and the lifestyle we want.

That being said, now I'm curious - are you projecting because you bought and regret it now because of timing? Did you even buy here in Irvine?
 
GrowthStateofMind said:
Was the root problem a matter of market timing, or more so a matter of poor risk management, over
leveraging, unqualified buyers benefiting from loose lending standards back then, and too short of a time horizon?

If someone had the means to hold through the drawdown during those years, they’d be up minimum several hundred thousand in equity now since even most modern 2 bedroom condos in Irvine are $900k and up, and there’s no SFRs in Irvine below a million nowadays.
Click to expand...
Most foreclosures are due to job loss regardless of the risks taken when acquiring the home. Sure you can hold a money losing property during a drawdown, but it would be better not to have purchased the overpriced property in the first place and instead put your money towards more productive uses.
 
SUPDUDES916 said:
Are you okay? Timing does not matter when buying a primary residence as a home compared to buying to flip/invest. My spouse and I bought earlier this year in Irvine; pretty much at the peak, if not already a little bit into the slide. No regrets, as we found the exact layout and neighborhood that we wanted, and we can easily afford the mortgage and the lifestyle we want.

That being said, now I'm curious - are you projecting because you bought and regret it now because of timing? Did you even buy here in Irvine?
Click to expand...
There's no financial difference between an investment and a primary residence. The only difference is whether you choose to live in the property or to let somebody else live in the property, or nobody at all. Regardless of occupancy, the effects of timing are the same.

If you buy at a poor time, as you and your wife did, then you will suffer financial losses. Saying you can easily afford the losses doesn't change the fact that you timed your purchase poorly. You paid more than you needed to in equity, interest, and property taxes.

You could still have gotten the exact layout / neighborhood / lifestyle you wanted without the losses. It's not like that layout / neighborhood were never going to be for sale again if you didn't act when you did.
 
irvinehomeowner said:
I'll save you the math... percentage wise, Irvine was in the lowest percentiles when it comes to foreclosures vs total number of residences. Newport Beach was one of the few that came close, most other OC cites, multiple times Irvine's foreclosure rate.
Click to expand...
Please post your numbers if you want us to believe you.
 
Liar Loan said:
True. If you're 100% sure that you will never lose your job, or you don't mind taking a large loss if forced to sell, then no worries.
Click to expand...
if you have to sell when the market is down, who cares, your other house will be cheaper as well. If things get really bad, just hand over the keys, rent for a while, then buy the dip.

Anyway, now I want to know if you're someone who actually bought at a good time, and you just don't want people to overpay, or if you're a loser like Larry (Irvine Renter) who never bought since he was so certain the crash was coming *any day now*.
 
SUPDUDES916 said:
Are you okay? Timing does not matter when buying a primary residence as a home compared to buying to flip/invest. My spouse and I bought earlier this year in Irvine; pretty much at the peak, if not already a little bit into the slide. No regrets, as we found the exact layout and neighborhood that we wanted, and we can easily afford the mortgage and the lifestyle we want.

That being said, now I'm curious - are you projecting because you bought and regret it now because of timing? Did you even buy here in Irvine?
Click to expand...
Exactly, if you're buying a primary residence, it doesn't matter when you buy. What matters is what and where you buy. Does this house have a layout that you want? Check. Is this house in a neighborhood that you like? Check. Then you buy. Simple as that.
 
Liar Loan said:
There's no financial difference between an investment and a primary residence. The only difference is whether you choose to live in the property or to let somebody else live in the property, or nobody at all. Regardless of occupancy, the effects of timing are the same.

If you buy at a poor time, as you and your wife did, then you will suffer financial losses. Saying you can easily afford the losses doesn't change the fact that you timed your purchase poorly. You paid more than you needed to in equity, interest, and property taxes.

You could still have gotten the exact layout / neighborhood / lifestyle you wanted without the losses. It's not like that layout / neighborhood were never going to be for sale again if you didn't act when you did.
Click to expand...

You don’t even know the time horizon of when they’d want to sell and what the local housing market will be like when they do want to sell. You don’t even know their personal situation and needs. Perhaps the home had a certain view, proximity to school, and was next to friends or family members they wanted to be next to? It’s never a guarantee a certain lot or layout will be available… you could wait a year, you could wait 10+ years for a specific model or location and still be holding your breath. No one knows everything.

How would you know with certainty how the local housing market will be a year or two from now? How the market will be if they bought 5 years from now? Prices could go up, they could go down, can anyone really guarantee?
 
You must log in or register to reply here.
Back
Top