irvinehomeowner
Well-known member
I know that WTF is the preferred term but I'm trying to make it a little more friendly.
In the last year or so, I noticed that listings tended to be more reasonable although still high for Irvine.
However, in the last month or so... with all these hints of a turnaround in the economy (despite still high unemployment) and all this talk of no Shadow Inventory and already being at the bottom, I'm starting to notice listings that are OMG... almost close to 2006 prices.
Is it just me or are sellers feeling that since the market has such low inventory, that they can start listing at inflated prices again? And even with those few homes that list below market (or what is deemed as market in the still too high area of Irvine), I'm hearing that multiple bids ends up closing the property either at market or above.
Gah.
Is there some way to measure the percentage of short sales in Irvine compared to other cities? Or to Orange County as a whole. It's just weird that in the certain range I'm looking, almost all the lower end priced homes outside of Irvine are short sales, while almost none of the Irvine ones are.
Where is graph to explain this phenomenon to me? Where is that 40% drop? Heck... I don't even see a 15-20% drop in the home I bought in 2005.
In the last year or so, I noticed that listings tended to be more reasonable although still high for Irvine.
However, in the last month or so... with all these hints of a turnaround in the economy (despite still high unemployment) and all this talk of no Shadow Inventory and already being at the bottom, I'm starting to notice listings that are OMG... almost close to 2006 prices.
Is it just me or are sellers feeling that since the market has such low inventory, that they can start listing at inflated prices again? And even with those few homes that list below market (or what is deemed as market in the still too high area of Irvine), I'm hearing that multiple bids ends up closing the property either at market or above.
Gah.
Is there some way to measure the percentage of short sales in Irvine compared to other cities? Or to Orange County as a whole. It's just weird that in the certain range I'm looking, almost all the lower end priced homes outside of Irvine are short sales, while almost none of the Irvine ones are.
Where is graph to explain this phenomenon to me? Where is that 40% drop? Heck... I don't even see a 15-20% drop in the home I bought in 2005.