IrvineForever
New member
someguy said:
That?s the end unit view lot, which over looks the city?also has a full driveway
Newer Irvine listings with crazy WTF asking prices from equity sellers
- Thread starter usctrojancpa
- Start date
That?s the end unit view lot, which over looks the city?also has a full driveway
Irvinehomeseeker
Active member
Irvinehomeseeker said:hurijo said:I feel the original list price was really under market. 51 Decker down the street is listed at $1.25m, granted it's slightly bigger but still 3bd. $700/sqft is the new Eastwood price target.
59 Decker seems like fell out of escrow and now able to list at a higher price.
At 1.2M , I think this one is overpriced for the square footage and the upgrades. But if someone was willing to pay 1.2M for an attached Delano (3 bed), then this may this Petaluma plan 1 may also sell at 1.2M. Pricing is crazy...especially when you consider that Plan 1s are located with 5 other homes on a motor court..
59 Decker went pending. The one across from it ie 51 Decker is marked aa Hot Home in Redfin although it backs to Jeffrey...kinda surprised if it is getting a lot of interest despite property backing to Jeffrey. When OH4 is built out, Jeffrey may get super busy.
irvinebullhousing
Well-known member
I know the Irvine housing market is hot, but seriously?
https://www.zillow.com/homedetails/133-Lomita-Irvine-CA-92618/2068371259_zpid/
Are we now close to revive this thread daily, going forward yet?
https://www.zillow.com/homedetails/133-Lomita-Irvine-CA-92618/2068371259_zpid/
Are we now close to revive this thread daily, going forward yet?
Compressed-Village said:
There are few comparable homes pending at similar prices so probably at market:
Not sure who are buying these Barcelona homes at these insane prices.
https://www.redfin.com/CA/Irvine/132-Lomita-92603/home/176294746https://www.redfin.com/CA/Irvine/106-Linda-Vis-92603/unit-20/home/176274002
sleepy5136
Well-known member
doesn't even have a driveway...Compressed-Village said:
irvinebullhousing
Well-known member
sleepy5136 said:
Yeah, nice trade-off for a no driveway. You get upgraded knobs, indicated in the descriptions. Anytime when someone tell me that its a rare, gated, I find it humorous. WTF for real....
sleepy5136
Well-known member
My condo's kitchen island can fit 2x more chairs. The kitchen looks so small, no driveway, detach condo vibes... no thanks...Compressed-Village said:
Irvinehomeseeker
Active member
sleepy5136 said:
But ppl are buying these homes in irvine paying such high prices since comparables are in contract. Wondering whats so special about Barcelona? Is it the promixity to shopping at Spectrum, Freeway closeby ?
usctrojancpa
Well-known member
Irvinehomeseeker said:
Easy....SOUTH OF THE 405!
Irvinehomeseeker
Active member
It looks properties backing to major street, which usually have a bit of hard time selling are now doing well. After 51 Decker that was a Petaluma plan 2 backing to Jeffrey Blvd at an asking price of 1.2M went pending over one weekend, a new Petaluma Plan 1 listing now at 1.2 M (higher price per sqt) again backing Jeffrey
https://www.redfin.com/CA/Irvine/53-Darby-92620/home/167401869
Will it get the 1.2M asking price?
https://www.redfin.com/CA/Irvine/53-Darby-92620/home/167401869
Will it get the 1.2M asking price?
irvinebullhousing
Well-known member
The more euphoria, the more positive reinforcement of pricing should be higher is the same predicament of 2008 unwound.
The big difference now is you got both the FED and Democrat Congress gives the nod, not so the Republican. The fiscal cliff is ever so closer to a doom drop.
In the last real crash, it?s required just the FED that does the trick. Not so this time.
We are heading into abyss. Reality suck. I rather be paper rich, but realities, is what we must face??someday. In the meantime enjoy the condwich appreciation.
The big difference now is you got both the FED and Democrat Congress gives the nod, not so the Republican. The fiscal cliff is ever so closer to a doom drop.
In the last real crash, it?s required just the FED that does the trick. Not so this time.
We are heading into abyss. Reality suck. I rather be paper rich, but realities, is what we must face??someday. In the meantime enjoy the condwich appreciation.
usctrojancpa
Well-known member
Compressed-Village said:
The dynamics of the previous run-up were totally different versus what is going on today. There was a lot more speculation and flipping with very loose credit standards like NINJA loans. Not the case this time around as you are fully underwritten by lenders today plus the demand is from buyers who want to live in the home (all but 2 of my buyers in the past year were looking to buy the home to live in it). You have the work-from-home movement, move-up buyers, first time home buyers, and vacation home buyers that are driving the market which is cause very low inventory everywhere. As I always used to say, watch inventory levels as they will be your tell on where pricing is going.
irvinebullhousing
Well-known member
Agree with you 100% that the two run up is completely different. One is banking crisis in 08 with leverage loans and liar loans, while today overloaded debts and entitlement payment that could bankrupt the country.
So we solved that problem by fully under write buyers and made sure that buyers do qualify. On the other hand, have the government balance their budget and pay down debts?
Nope.
How much more can kickin? can they do? Might be a long time. By then my house will be worth 10 million but very very few willing to buy it.
I always have a mind set of buy to live first. Appreciation comes second. I can be wrong but many expect their house to appreciate forever. Let?s not forget rate is at zero. Can it stay at zero forever?
So we solved that problem by fully under write buyers and made sure that buyers do qualify. On the other hand, have the government balance their budget and pay down debts?
Nope.
How much more can kickin? can they do? Might be a long time. By then my house will be worth 10 million but very very few willing to buy it.
I always have a mind set of buy to live first. Appreciation comes second. I can be wrong but many expect their house to appreciate forever. Let?s not forget rate is at zero. Can it stay at zero forever?
Why would the government pay down debt when interest rates are near zero and will be for the foreseeable future?
30 year TIPS have been negative for over a year. Nothing is forever but the markets believe low interest rate environment is here to stay for a long time.
Much more likely that the government continues to increase spending.
30 year TIPS have been negative for over a year. Nothing is forever but the markets believe low interest rate environment is here to stay for a long time.
Much more likely that the government continues to increase spending.
