• New forum software - please post issues in this thread

Newer Irvine listings with crazy WTF asking prices from equity sellers

Nothing is supporting 50 in Feburary. Not inflation numbers, not job numbers.
Core is sticky. It is VERY sticky. They will shock the system then leave it higher for longer. If they don’t do it now they will be back in q3 2023. The house prices will fall either way, but I would prefer sooner rather than later so I can move in sooner.

We will find out in 2 weeks
 
Last edited:

irvinehomeowner

Well-known member
:( I’m going to cry… saving for 2 years now and still can’t get a bigger place for the kid
Were you listening to Liar Loan?

According to him... he saved the world a billion dollars if you listened to him.

I hope you can figure it out... interest rates are making finance buys really expensive which some people failed to mention when you wait for prices to drop.
 

CalBears96

Well-known member
I hope you can figure it out... interest rates are making finance buys really expensive which some people failed to mention when you wait for prices to drop.
If I had to choose higher rates or higher housing price, I'll choose higher rates. You can refinance, but you can't change the housing price.

In this particular situation, there's no other option than waiting for the housing price to drop since the rates are already high. In 2 years, both the rates and housing price will be lower than RIGHT NOW. So, in this particular situation, it's definitely the right move to wait.
 

irvinehomeowner

Well-known member
I agree with you Cal... people always say that high rates are supposed to make prices drop.

The problem is it's never proportional... so trying to time that becomes difficult.

And there has to be some other factor than high rates that are going to force lower prices... we thought a pandemic would have done it... but we saw how that turned out.
 

CalBears96

Well-known member
No it’s been sold. One of my relatives was interested for her mother in law but IP told her it’s been sold couple of weeks b4.

Must be Chinese investor. Rent agent looks Mainland 🤓
That's what I figured, but Zillow didn't show that it was sold.
 

sgip

Well-known member
There isn't a companion thread about general OC properties but once I saw this I couldn't believe the pricing. Note -next to zero updates on this from prior sale in March...


676 Vista Ln, Laguna Beach CA 92651.


Last sale: March 15, 2022 - $6,895,000

Current list: Jan 2nd, 2023 - $9,449,999

$2.555M appreciation in 9(ish) months? Puh Leez. The seller or agent must be high.

What say you?
 
Last edited:

irviniteeee

Active member
There isn't a companion thread about general OC properties but once I saw this I couldn't believe the pricing. Note -next to zero updates on this from prior sale in March...


676 Vista Ln, Laguna Beach CA 92651.


Last sale: March 15, 2022 - $6,895,000

Current list: Jan 2nd, 2023 - $9,449,999

$2.555M appreciation in 9(ish) months? Puh Leez. The seller or agent must be high.

What say you?
They have confidence I'll give them that much! All I can do is L O L.
 

CalBears96

Well-known member
There isn't a companion thread about general OC properties but once I saw this I couldn't believe the pricing. Note -next to zero updates on this from prior sale in March...


676 Vista Ln, Laguna Beach CA 92651.


Last sale: March 15, 2022 - $6,895,000

Current list: Jan 2nd, 2023 - $9,449,999

$2.555M appreciation in 9(ish) months? Puh Leez. The seller or agent must be high.

What say you?
Maybe selling agent mistook the 6 for a 9?

Are they forgetting that the housing market peaked in April, 2022, pretty much when the last transaction took place?
 

usctrojancpa

Well-known member
This listing made me laugh when I saw it pop up. So the same listing agent listed this same home back on Sept 2nd, 2022 for $1,598,000 and ended up selling it $1,390,000 on Nov 7th (I sold the same exact floor plan in Aug 2022 for $1,465,000). Now the seller who got a good deal thinks she can get almost $300k more than what she bought it for.

https://www.redfin.com/CA/Irvine/71-Cherry-Tree-92620/home/58556661

Prediction = this home will sit and sit and sit with price drops and if the seller really wants to sell the home it'll close around the mid $1.4s.
 
Top