Newer Irvine listings with crazy WTF asking prices from equity sellers

Here is the key words. "Wanting to Live in Irvine", nothing wrong with renting. Price is high, rent in Irvine.

Someone gonna say, "let's regulate this market and stop foreigner from buying." Okay, that will fix it. Regulating market by some laws, then we will have a free market. Make sense?
Good luck renting homes that are sitting empty owned by FCBs. I don't think you got my point. FCBs are artificially reducing inventory by buying homes and let them sit. So even when you have people who couldn't afford to buy and want to rent can't do so because there isn't any inventory. Free market is one thing, but ARTIFICIALLY reducing inventory is another thing.

One way to discourage FCBs is to add out of state tax. I mean, it won't stop them, but it will at least discourage them. If CSUs and UCs can do it, then the counties certainly can do it.
 
It doesnt make sense that foreign investors are allowed to buy US national debts, bonds, various securities but not real estate. Pick and choose to your own liking is not a capitalist model. Free trade has its price.
 
Foreigners buying real estate is the end result of a chain that shouldn't be encouraged to continue. It wouldn't be unreasonable to require down payments to be in a US Bank (on shore) for 12 months before any non US Citizen buys a property. Rules like that can reduce some - not all - but some of the criminal element of real estate sales out of the picture. I'd go so far as to ban any loans being made by FDIC insured institutions unless the properties are seasoned for 12-18 months from the last sale. Sure, there may be the occasional panic, or need to sell and relocate buyer, and that can be legislated around, but nothing in these 30-45 day flips make any logical sense for a buyer. If these transaction are not logical, then the only reasonable alternative is that they are criminal.
 
It doesnt make sense that foreign investors are allowed to buy US national debts, bonds, various securities but not real estate. Pick and choose to your own liking is not a capitalist model. Free trade has its price.
Obvious, real estate is not "free trade" like bonds and securities. It's not an "investment". If China has restrictions, why shouldn't US have the same restrictions? Some of the restrictions in China?

1. The main one is length of stay in the country. You’ll need to have lived in China for at least 12 months, working or studying on a valid permit.
2. You can only buy one property in China as a foreigner - second homes aren’t allowed.
3. The property you buy must be for living in.
4. You’re not allowed to rent out the property or act as a landlord.
 
Let’s see, I used to live next to real people, “husband and wife yelling at each other” with bedroom wide open and we can hear every word was said.

It was not nice words in the heat of anger. Dog poop on my lawn, next door neighbor gives me a dirty look when I approach, I turn around and avoid confrontation.

Teenage kids play in the park and use every foul language when miss a hoop. Two doors down from me think their 6 feet weeds shrub was a nice front yard feature.

There is no perfect place, just must deal with what you given, and make lemon out of lemonade is my motto.



Is Irvine the only place that is overly overpriced? Some are, yes. That’s why we have this thread created. I am a firm believer in free market will dictate pricing. You can ask for the moon, doesn’t mean you will get it. Genuine price, to me is too high, is cheap for someone else. That’s the same reason, when transplant from California to Floridian hate them because they bought it for,,,,,well cheap in California term. So its relative.



And the last time I needed help, my kid’s school friend’s parents were there to help. And for real help, I asked my gardener. And for real, real help, home depot day labor or I often go to Laguna Cayon Road across from Ghanal Lumber in Laguna Beach for good labor. Help is not the issue for me.
Which Home Depot do you go for good labor?
 
Obvious, real estate is not "free trade" like bonds and securities. It's not an "investment". If China has restrictions, why shouldn't US have the same restrictions? Some of the restrictions in China?

1. The main one is length of stay in the country. You’ll need to have lived in China for at least 12 months, working or studying on a valid permit.
2. You can only buy one property in China as a foreigner - second homes aren’t allowed.
3. The property you buy must be for living in.
4. You’re not allowed to rent out the property or act as a landlord.
Who would want to buy real estate in China?
 
Free market dictating the price is fine. However, with FCBs involved, it's no longer a free market, but an artificially inflated market and it REALLY hurts real families wanting to LIVE in Irvine.
We all like to blame FCB's for our market woes but does anyone have an idea how many homes they're actually buying in this market? I think it's much less than we think... for example a few home in my neighborhood were sold for cash and we all assumed it was FCB but it turned out to be local (non chinese) cash buyers...
 
We all like to blame FCB's for our market woes but does anyone have an idea how many homes they're actually buying in this market? I think it's much less than we think... for example a few home in my neighborhood were sold for cash and we all assumed it was FCB but it turned out to be local (non chinese) cash buyers...
Remember how the housing market was kind of slow from late last year until early this year? Many of the new constructions were sitting for weeks to months. I remember seeing the same Cielo and Azul homes on the price sheets from July last year (when they both had grand opening) until March this year. Then the market took off. The homes started disappearing from the price sheets.

Two things happened: (1) China reopened. (2) 11 states proposed to ban foreigners (they pretty much targeted Chinese cash buyers) from buying property. These two combined caused the Chinese to flock to California.
 
We all like to blame FCB's for our market woes but does anyone have an idea how many homes they're actually buying in this market? I think it's much less than we think... for example a few home in my neighborhood were sold for cash and we all assumed it was FCB but it turned out to be local (non chinese) cash buyers...
In orchard hills, there exists entire streets with FCB first & last names.
 
In orchard hills, there exists entire streets with FCB first & last names.
just because they all have a certain type of name doesnt mean they are FCB.... but to your point point there is probably a disproportionate amount of FCB in orchard hills compared to other communities because they like new builds
 
just because they all have a certain type of name doesnt mean they are FCB.... but to your point point there is probably a disproportionate amount of FCB in orchard hills compared to other communities because they like new builds
Eastwood and PS, too, as they're also new builds.
 
just because they all have a certain type of name doesnt mean they are FCB.... but to your point point there is probably a disproportionate amount of FCB in orchard hills compared to other communities because they like new builds
we can be all politically correct all we want. I'm simply stating what I'm seeing on the title information. And as Calbears mentioned, PS & Eastwood as well. I would also say Stonegate/Altair/GP. Which as we are talking now is more than 50% of Irvine isn't it? That's not including Hidden Canyon which is known to be an anchor baby area for FCB.
 
It doesnt make sense that foreign investors are allowed to buy US national debts, bonds, various securities but not real estate. Pick and choose to your own liking is not a capitalist model. Free trade has its price.
I'm not sure if you traveled outside of America, but the US is probably the only first world country where I see more homeless people per capita than other countries. The items you highlighted does not have a direct impact in homelessness. However, when you have housing that could have been more affordable and attainable being snatched up by foreigners, you end up impacting the local citizens.

So if there were checks in place to prioritize the local citizens over foreigners why would that be a bad idea? Because it's anti-capitalism? Discrimination towards foreigners? Those are weak arguments. It's like the US prioritizing Ukraine aid over our own issues. We need to fix the problems in our country before we fix others.
 
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Yeah... pull titles for any of the new hoods and you can see yourself.

I remember a long time ago I saw some for Quail Hill when it just opened... Asian, Middle Eastern and Jewish dominated.
 
I literally looked at SFH in Irvine sold in the past 3 months. I would say almost 70% are cash, 20% have down payments of 40%+, and 10% having less than 40% down payment. FCB would be 80-85% and 15-20% non-FCB. Lastly, 75-80% of those FCB sales map to Chinese buyers while the 20-25% are non Chinese. The dependency on Chinese buyers in Irvine is alarming
 
One has to ask that if some Irvine realtors work (buy side/list side) only with non-US citizens of similar heritage is there a class action possibility for violation of Fair Housing rules? AKA - If a specific racial group of realtors work only with specific racial groups, it's a discriminatory environment subject to penalties.
 
I literally looked at SFH in Irvine sold in the past 3 months. I would say almost 70% are cash, 20% have down payments of 40%+, and 10% having less than 40% down payment. FCB would be 80-85% and 15-20% non-FCB. Lastly, 75-80% of those FCB sales map to Chinese buyers while the 20-25% are non Chinese. The dependency on Chinese buyers in Irvine is alarming

On my Eastwood listing I had 14 offers of which 10 were all cash and on my 2 Portola Springs condo listings I had 5 offers (3 all cash) and 7 offers (5 all cash). You can probably guess the ethnicity of the cash buyers.
 
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