Observations from the front lines of the Irvine housing market?

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irvinehomeowner said:
So you overpaid for the unicorn?  ;)

Congrats nonetheless... hope someone doesn't challenge that you are an Irvine home owner.
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I think I got a really good deal and considering that I was able to use the commission to remodel the home, I'm a happy camper.  It's not like I'm a very private person so if someone really wants to find out if I actually bought the home they can check with the County Recorder's Office.  ;)  The home is very close to rental parity so I know I didn't overpay too much.
 
congrats USC...would love to see a post on how you decided which property to buy.  with all the data you have access to and the numerous properties you have shown clients, picking one for yourself seems like it would be hard.  i work in tech and am slowest to upgrade because i see way too much and i always feel like what i am buying will become a rock in a few months....
 
rkp said:
i work in tech and am slowest to upgrade because i see way too much and i always feel like what i am buying will become a rock in a few months....
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I think Irvine housing innovation is much slower than tech... in fact... with the removal of extra garage space, extra living space and even driveways... you can say that it's regressing. :)
 
rkp said:
congrats USC...would love to see a post on how you decided which property to buy.  with all the data you have access to and the numerous properties you have shown clients, picking one for yourself seems like it would be hard.  i work in tech and am slowest to upgrade because i see way too much and i always feel like what i am buying will become a rock in a few months....
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Thank you.  Having taken around many buyers all around Irvine and other surrounding cities definitely provided me with an insight that many perspective buyers might not have.  There were several "must-haves" on my list so that did narrow things down quite a bit for me.  When decided on which city/cities to focus, I weighed a lot of factors....proximity to my family, where I spend most of my time either working and not working, exit strategy, good schools, shopping, etc. 
 
IndieDev said:
He can get Chinese, but if he wants to go Korean he's going to need to drop the M3 and get a white Mercedes, hopefully E-Class or above.
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The only E-class that I would consider would be an E63 AMG but man do Mercedes drive like speedboats (very little handling).  The next step up in terms of cars for me is the 997 GT3, not sure what kind of girl that car will attract though.
 
Congrats!  Will we get a full story like when you sold?  Like was it a standard or short sale or REO?  How long did it take from submitting your offer before it got accepted and then finally closed?  Any counter offers or BS from the agent like "I have multiple offers above X, so you better submit a better one"

Are you using the PenFed 5/5?
 
26inirvine said:
Congrats!  Will we get a full story like when you sold?  Like was it a standard or short sale or REO?  How long did it take from submitting your offer before it got accepted and then finally closed?  Any counter offers or BS from the agent like "I have multiple offers above X, so you better submit a better one"

Are you using the PenFed 5/5?
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Thanks, I'll provide a nice write-up next week once I get all unpacked and settled (I'll even provide a few before and after pictures).  It was a short sale with a lot of ups and downs but one that finally got done.  I went with a 7-year ARM loan but I may refi into a PenFed 5/5 ARM loan (didn't think about going with PenFed on the purchase because they have a bad rep for being super slow on their mortgage loans). 
 
USCTrojanCPA said:
irvinehomeshopper said:
Congrats USC! Now you just increased your odd of finding a Chinese Wife.
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But I don't have any LV accessory items.  :-X
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No need because you will be shown how to acquire them during courtship. Once you are hooked that Hello Kitty set of stickers will humiliate your muscle car and is a testament of your loyalty.
 
Did you do the renos yourself? Or was it USCTrojDad coming out of retirement?

I can't wait to see what kind of work you had done... it's like the House Hunters 2-months after move-in scenes! :)
 
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