Market Seems So Hot Right Now!

M

melodypowell

New member
I know there has been discussions on and off regarding market might be a little slowing down. But my husband and I have been looking for a house at around 1.5m+ in turtle rock and surroundings, the few we toured and inquired/offered on all have multiple offers, a lot of times multiple cash offers! Not sure if this is just turtle rock or in general, but it seems crazy! Would love to know what you guys think.
 
It's a desirable area with a relatively limited housing pool and very limited inventory.

Quickly eyeballing redfin, I'm actually quite surprised the available inventory looks that good at that price point given the rest of Irvine's price points.
 
nosuchreality said:
It's a desirable area with a relatively limited housing pool and very limited inventory.

Quickly eyeballing redfin, I'm actually quite surprised the available inventory looks that good at that price point given the rest of Irvine's price points.
Click to expand...

19 homes on the market according to redfin...23 sold in the past 3 months...53 sold in the last 6 months.
 
melodypowell said:
I know there has been discussions on and off regarding market might be a little slowing down. But my husband and I have been looking for a house at around 1.5m+ in turtle rock and surroundings, the few we toured and inquired/offered on all have multiple offers, a lot of times multiple cash offers! Not sure if this is just turtle rock or in general, but it seems crazy! Would love to know what you guys think.
Click to expand...

I think there may have been a wait and see approach when people thought rising interest rates and the tax law changes might prove to be a tad more favorable to buyers

But as with all previous such episodes , what ultimately matters is the job / economic pictures which is extremely strong right now (this says nothing about long term) and you maybe seeing some of that pent up demand also materialize

I have been a proponent on this forum of ?buying any dip? in the more desirable neighborhoods (like TR) so am not really surprised. 
 
Was pretty hectic looking for a 2bd condo. Open houses were packed with people. usually sold in a few days with multiple cash offers. Would push way over list.

Looking now, there's barely any inventory in the 550-700 range.

 
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