Market Top

meccos12 said:
Time to revive this thread!

In early August, I called a market top on prices this year.  three months later, I feel more secure saying the same thing.

Anyone agree/disagree or changed their minds since the last posts?  Id love to hear your opinions.
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I think there is a slowdown for sure. It's a good time to ask for more discount if you must buy now.
Another question is will it go back up early next year? If not, THAT would be a real proof of deep one, wouldn't it?
 
irvinehomeowner said:
@meccos:

Did you ever answer USC's question?

USCTrojanCPA said:
meccos12 said:
Im gonna call a market top this summer.  I predict prices going down from here on out. 
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And what % drop do you predict and over what period?
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LOL. Why keep asking no one can answer? Are you waiting for BTB to hear from God and prophesy here?
 
paperboyNC said:
Market Top for how long? I predict Housing demand will pickup again next year (2019) with flattish (0-5% increase) in pricing in 2018. I wish I were wrong and I could buy a move-in ready home on an 8,000sqft lot away from freeways, etc. in Irvine for $1.2mm. This is the closest available now:https://www.redfin.com/CA/Irvine/2-Blakeley-92620/home/4783182

But .. definitely not move-in ready
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Now, that is the backyard! I would totally buy this, but it backs Bryan and Yale so it's not passing YF's environmental hazard safety lists though.

Also this home has NO HOA! Anyone likes that better? I would think that's better, but anyone has issues like  lack of masterfully planned feel at all?

 
irvinehomeowner said:
@meccos:

Did you ever answer USC's question?

USCTrojanCPA said:
meccos12 said:
Im gonna call a market top this summer.  I predict prices going down from here on out. 
Click to expand...

And what % drop do you predict and over what period?
Click to expand...
Click to expand...

Do i need to predict a certain % drop to justify my statement?  I think my statement is VERY clear.  My opinion is that we are at a market top.  Very simple, nothing to get confused about. 

 
meccos12 said:
paperboyNC said:
Market Top for how long?
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If IHO was gonna ask any question, this should have been the one to ask.  Just a guess but maybe a couple years to hit lows and then back up.
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I know the Housing Analysis thread is too long for you to search but that was one of the things I did ask for... time frame.

You can't advise people to wait... and then not tell them for how long.
 
irvinehomeowner said:
meccos12 said:
paperboyNC said:
Market Top for how long?
Click to expand...

If IHO was gonna ask any question, this should have been the one to ask.  Just a guess but maybe a couple years to hit lows and then back up.
Click to expand...

I know the Housing Analysis thread is too long for you to search but that was one of the things I did ask for... time frame.

You can't advise people to wait... and then not tell them for how long.
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I never advised anyone to wait, but if I was in the market, I definitely wouldnt be in a hurry to buy something.
 
meccos12 said:
irvinehomeowner said:
meccos12 said:
paperboyNC said:
Market Top for how long?
Click to expand...

If IHO was gonna ask any question, this should have been the one to ask.  Just a guess but maybe a couple years to hit lows and then back up.
Click to expand...

I know the Housing Analysis thread is too long for you to search but that was one of the things I did ask for... time frame.

You can't advise people to wait... and then not tell them for how long.
Click to expand...

I never advised anyone to wait, but if I was in the market, I definitely wouldnt be in a hurry to buy something.
Click to expand...

My wife and I were in escrow on a house in Northpark Square about 3 or 4 months ago.  We cancelled due to various reasons.  Looking back, I am glad we did because the inventory seems to be much greater now.  We are not in a hurry now since conditions appear better now than it was a few months ago.  I feel like it will be better 3 or 4 months later than it is now. 
 
i bought a new construction 6 months ago, similar model match is being sold for +100K. time will tell if this is/was a good/bad decision. We are happy though
 
I got this from a Redfin email:

Sales Slump in September
Homes sold in September decreased 4.8% year over year and, for the first time in nearly three years, the number of homes for sale increased.

Finally some relief!! ;D
 
Irvine Dream said:
market top, Nah Not now.  see below for proof
https://www.redfin.com/CA/Irvine/4822-Kron-92604/home/4682256
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LOL  I love how redfin always estimates the value at just below list price EVERY single time! 

So it is listed at 3.5M but the house is a condemned teardown in a neighborhood with sales typically under 1M.  LOL  Is this house in WTF thread?  Seems like this house is worth the land value minus costs to tear down and remove debris.
 
meccos12 said:
Im gonna call a market top this summer.  I predict prices going down from here on out. 
Click to expand...

Wait. So isn't this your opinion? Why even post this? No one asked you to make this prediction.

#inconsistency
 
irvinehomeowner said:
meccos12 said:
Im gonna call a market top this summer.  I predict prices going down from here on out. 
Click to expand...

Wait. So isn't this your opinion? Why even post this? No one asked you to make this prediction.

#inconsistency
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Iho: It doesn?t surprise me how you attack people. It doesn?t help your reputation when you continuously attack people.


 
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