Newer Irvine listings with crazy WTF asking prices from equity sellers

NEW -> Contingent Buyer Assistance Program
ravi said:
When it’s a 4.9% annual appreciation or let’s even double that to 10% which is insane but let use that as an example, once you have a primary residence to live in, what’s the appeal with residential real estate investing after that when you are getting roughly the same returns, if not more by just investing in the S&P 500? And by residential real estate investing I do not mean buying, fixing and forcing appreciation. There are folks who buy homes and just depend on appreciation and as you pointed out it’s not significant when you can get similar returns in the stock market.
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It can be easier to find under priced assets in certain markets making the returns in real estate much higher than the stock market.
 
@ravi there are some other reasons why investing in RE makes sense:

1) Diversification. Historically, when the stock market is struggling, real estate might be doing well. And when real estate is struggling, the stock market might be doing well. The past 25 years of QE Infinity have thrown this off though. Now all assets are highly correlated and tend to rise and fall together.

2) Some people are afraid of the stock market. Real estate is an easy business for anybody to understand and doesn't have the same daily, weekly, monthly volatility of stocks. Just steady rents and steady appreciation over time.
 
Liar Loan said:
@ravi there are some other reasons why investing in RE makes sense:

1) Diversification. Historically, when the stock market is struggling, real estate might be doing well. And when real estate is struggling, the stock market might be doing well. The past 25 years of QE Infinity have thrown this off though. Now all assets are highly correlated and tend to rise and fall together.

2) Some people are afraid of the stock market. Real estate is an easy business for anybody to understand and doesn't have the same daily, weekly, monthly volatility of stocks. Just steady rents and steady appreciation over time.
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OC RE is all about appreciation - new purchases will never cash flow though a buddy with a house in the Port Streets he bought after GFC for a good price and remodeled told me he can get at least $10K/mo, which would be great cash flow relative to his mortgage payment . I just wonder how sustainable finding social climbing bozos willing to pay $10K/mo is. Plus won’t they be shunned in the hood after being outed as renters?
 
OCtoSV said:
OC RE is all about appreciation - new purchases will never cash flow though a buddy with a house in the Port Streets he bought after GFC for a good price and remodeled told me he can get at least $10K/mo, which would be great cash flow relative to his mortgage payment . I just wonder how sustainable finding social climbing bozos willing to pay $10K/mo is. Plus won’t they be shunned in the hood after being outed as renters?
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No body really cares if the next door is rented or owned. At least I dont care.
 
Liar Loan said:
Newport Beach has its own culture though.
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YMMV isn’t familiar with coastal California culture - no one wants to live next to renters. I witnessed this actually much worse in the Bay Area. Our street in LN had a few at the end of the cul de sac that rented from original owners, now just 2 left as we’ve had a string of sales over the past 6 months.
 
test said:
Renters are the worst. They never park their cars in the garage because it's always packed with their crap.
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Nah, homeowners do that too. That's the main reason we decided to move from Bluffs to Cielo. At least, with SFR, they park in their driveway. With detach condos, everyone parks on the street. There's no space to put the trash cans on garbage days, especially with so many condos sharing the street curbs.
 
CalBears96 said:
Nah, homeowners do that too. That's the main reason we decided to move from Bluffs to Cielo. At least, with SFR, they park in their driveway. With detach condos, everyone parks on the street. There's no space to put the trash cans on garbage days, especially with so many condos sharing the street curbs.
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Which leads me to believe 3 car garage should deserve a premium, like view lots?
 
CalBears96 said:
Nah, homeowners do that too. That's the main reason we decided to move from Bluffs to Cielo. At least, with SFR, they park in their driveway. With detach condos, everyone parks on the street. There's no space to put the trash cans on garbage days, especially with so many condos sharing the street curbs.
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Condos owners are a step above renters but tainted by osmosis as most condo communities have high percentages of renters
 
CalBears96 said:
Nah, homeowners do that too. That's the main reason we decided to move from Bluffs to Cielo. At least, with SFR, they park in their driveway. With detach condos, everyone parks on the street. There's no space to put the trash cans on garbage days, especially with so many condos sharing the street curbs.
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How does garbage day work for motor court homes? If you don't mind me asking. Do you have to bring the bins out of the shared driveway? What if there's no more room? I've seen 12 units sharing a single dead-end driveway and I've always been curious how do they fit 36 garbage bins within like 80 ft.
 
vchoi said:
How does garbage day work for motor court homes? If you don't mind me asking. Do you have to bring the bins out of the shared driveway? What if there's no more room? I've seen 12 units sharing a single dead-end driveway and I've always been curious how do they fit 36 garbage bins within like 80 ft.
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You have to bring them out to the street. Garbage trucks don't go into the share driveway. Right before we moved out some of the garbage bins were half blocking the share driveway exit. It was a pain. It wasn't so bad in 2022 when we only had two bins, but it got a lot worse after the city mandated the green/food waste bin.
 
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