Real Estate Competition

[jackiecarl]

Hello,
What’s the current competition like in Irvine? Are listings still selling for over asking price? Are some properties coming down due to interest rates? My wife and I are looking with a budget of $1.4M to $1.7M. Is it feasible to find a decent-sized property in that range, particularly in the 92618 area?

 

[CalBears96]

I would say it's a buyer's market now in the 92618 area. Listings are cutting prices and are mostly selling below asking price. For the $1.4M-$1.7M price range, you can't really find anything in PS, though, so that leaves just the GP area. The Hillside listing in PS are above $1.8M still.

 

[vsfan]

SFH is hard to come by under 2M, detached condo is very affordable in your budget, 3-4 bedrooms and about 2000 sqft.

 

[GrowthStateofMind]

I would say it's a buyer's market now in the 92618 area. Listings are cutting prices and are mostly selling below asking price. For the $1.4M-$1.7M price range, you can't really find anything in PS, though, so that leaves just the GP area. The Hillside listing in PS are above $1.8M still.

There’s actually 3 and 4 bedroom attached and detached in Talise and Brisa/Celeste listings off Tomato Springs in Portola Springs that have been sitting for awhile in that price range, could be worth lowballing.

 

[CalBears96]

There’s actually 3 and 4 bedroom attached and detached in Talise and Brisa/Celeste listings off Tomato Springs in Portola Springs that have been sitting for awhile in that price range, could be worth lowballing.

True. I guess I don't pay enough attention to the listings north of Portola Pkwy.

 

[GrowthStateofMind]

Hello,
What’s the current competition like in Irvine? Are listings still selling for over asking price? Are some properties coming down due to interest rates? My wife and I are looking with a budget of $1.4M to $1.7M. Is it feasible to find a decent-sized property in that range, particularly in the 92618 area?

I did happen to stop by this open house around a month ago before they delisted and listed with a new agent:

https://www.redfin.com/CA/Irvine/113-Soaring-Eagle-92618/home/169484670

The previous agent was telling me there was room to offer lower as they were motivated sellers.

Another smaller listing:

https://www.redfin.com/CA/Irvine/134-Milky-Way-92618/home/176990445?gclsrc=aw.ds&&utm_source=google&utm_medium=ppc&utm_campaign=1023808&utm_term=dsa-1341488485896&utm_content=690321791407&adgid=111663008368&gad_source=1&gad_campaignid=10770407751&gbraid=0AAAAADirq3swIEl6G0lCcJ7fCbwDWViHL&gclid=CjwKCAjwv5zEBhBwEiwAOg2YKLve1i0cvUgx06aiTyxOAS0om1n-DeRHfS0w6anlxtm3TIe7EJ6PyBoCarcQAvD_BwE

 

[vsfan]

I did happen to stop by this open house around a month ago before they delisted and listed with a new agent:

https://www.redfin.com/CA/Irvine/113-Soaring-Eagle-92618/home/169484670

The previous agent was telling me there was room to offer lower as they were motivated sellers.

Another smaller listing:

https://www.redfin.com/CA/Irvine/134-Milky-Way-92618/home/176990445?gclsrc=aw.ds&&utm_source=google&utm_medium=ppc&utm_campaign=1023808&utm_term=dsa-1341488485896&utm_content=690321791407&adgid=111663008368&gad_source=1&gad_campaignid=10770407751&gbraid=0AAAAADirq3swIEl6G0lCcJ7fCbwDWViHL&gclid=CjwKCAjwv5zEBhBwEiwAOg2YKLve1i0cvUgx06aiTyxOAS0om1n-DeRHfS0w6anlxtm3TIe7EJ6PyBoCarcQAvD_BwE

Lot size for 113 must be wrong, 0.4 acres for detached is unheard of.

 

[CalBears96]

Lot size for 113 must be wrong, 0.4 acres for detached is unheard of.

Yeah, pictures of the backyard shows that the lot is much much smaller than that.

0.46 acres for SFH in North Irvine is unheard of, let alone detached condos. It's 20,037 sf. Not even the biggest TB lots at Summit are close to that big.

 

[sleepy5136]

Hello,
What’s the current competition like in Irvine? Are listings still selling for over asking price? Are some properties coming down due to interest rates? My wife and I are looking with a budget of $1.4M to $1.7M. Is it feasible to find a decent-sized property in that range, particularly in the 92618 area?

not surprised no one asked this question. But why Irvine? Why not consider nearby cities to get more square footage and lot size? You’ll still be able to access Irvine in 10-15mins if needed.

 

[test]

not surprised no one asked this question. But why Irvine? Why not consider nearby cities to get more square footage and lot size? You’ll still be able to access Irvine in 10-15mins if needed.

Irvine is the perfect convergence of both White Flight and Gentrification, a truly rare phenomenon.

 

[sgip]

Hard to say White Flight is part of all this. Humans, no matter their melanin level, are among other things greedy, lazy beings.

An "Irvine original" homeowner is selling their property. 888 offers come flooding in. The top buyers are either way over list or all cash. At that point do these home sellers really care about the buyers surname? Nope. Need proof? The offers could all come from various LLC's, and again zero shiats would be given. It's all SHOW ME THE MONEY BAYBEEEEE

As said before, the only color that matters here is green. At this present moment only the freshest laundered money from Asia come available in that color and in bulk amounts.