Newer Irvine listings with crazy WTF asking prices from equity sellers

lnc said:
Goriot said:
This Laurel plan 1 unit is pending sale within two weeks from the listing at approx. $480/sqft.  Not bad.  115 Moss might have a chance at $1.2.
Market is kinda picking up these days.  I don't see much SFR inventory in SG, WB, and CV area.
https://www.redfin.com/CA/Irvine/114-Mountain-Violet-92620/home/102398639
Click to expand...

With that address number and the house got sold in 2 weeks?  Not bad indeed. :)
Click to expand...


I totally agree with you.  "114" is too bad, I guess not Chinese offer it.
 
Goriot said:
frank303 said:
https://www.redfin.com/CA/Irvine/115-Mosswood-92620/home/103027806

OMG, is this home located in LGA?  Cypress Village has a gated community?
This price give Strada in OH a hit!
Click to expand...

This Laurel plan 1 unit is pending sale within two weeks from the listing at approx. $480/sqft.  Not bad.  115 Moss might have a chance at $1.2.
Market is kinda picking up these days.  I don't see much SFR inventory in SG, WB, and CV area.
https://www.redfin.com/CA/Irvine/114-Mountain-Violet-92620/home/102398639
Click to expand...


I guess that's because of very low loan interest now.  30 year fixed now has around 3.5% only. Even lower than last year
 
Seems like tons of new listing hitting MLS every day now, people ready to cash out I guess and re-buy mid zombie apocalypse. 

27 New Irvine listings between yesterday and today! 
 
You look at Irvine market trends on redfin and it definately is pointing in that direction. +31% listing from last year and -50% number of home sold from last year.

Just 106 homes sold in December , where nationally there was a big rebound in December
 
frank303 said:
Goriot said:
frank303 said:
https://www.redfin.com/CA/Irvine/115-Mosswood-92620/home/103027806

OMG, is this home located in LGA?  Cypress Village has a gated community?
This price give Strada in OH a hit!
Click to expand...

This Laurel plan 1 unit is pending sale within two weeks from the listing at approx. $480/sqft.  Not bad.  115 Moss might have a chance at $1.2.
Market is kinda picking up these days.  I don't see much SFR inventory in SG, WB, and CV area.
https://www.redfin.com/CA/Irvine/114-Mountain-Violet-92620/home/102398639
Click to expand...


I guess that's because of very low loan interest now.  30 year fixed now has around 3.5% only. Even lower than last year
Click to expand...

WHAT? Where do you see 3.5% interest rates for 0 points, 0 costs, no gimmicks ? I just bought at 3.75
 
It's a bit trickier than a Google Search. Example, when you pencil in a $450k refinance, some Internet Lenders have Price A - Jumbo Conforming at 4.25% and repeat quotes with Price B - Jumbo Bank Portfolio down at 3.75%. Today, some banks are funding "Bank Portfolio - Balance Sheet" mortgages down to $417,001. Others aren't. There also are big price differences between purchase loans and refinance. Using that WF link, it's .375% between a refi rate and a purchase rate - about the market average today!

When pursuing a Bank Portfolio Jumbo Loan, please note that qualifying guidelines are often tighter, and cash reserves - normally 2 months - skyrocket to 12 / 18 / 24 months. Yes, it's possible to get 3.50% or lower for a 30 fixed purchase loan right now, gimmick free, but if you're short the 12 months or more of cash reserves it's NO SOUP FOR YOU!

My .02c

SGIP
 
Just have a few guys on speed dial. I rotate my loans with 2-3 guys/banks. Usually get rates back within 30 mins of sending a quick email and can lock shortly thereafter esp since they have info on file.
 
Closed in mid 2015 at $2m. After commissions making a cool 10-15% net isn't too shabby if you can get it.

My .02c

Soylent Green Is People

 
Yes.. looks like a Mulberry Plan 2 without the conservatory room option. More than fair since it will put our house at $1.44M =)
 
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