Starter Family Detached Home Battle: New vs Resale

[irvinebullhousing]

https://www.latimes.com/business/re...y-bill-would-tax-housing-speculation-flippers

House flippers could be taxed 25% of their profit under the California Speculation Act, a bill introduced by Assemblymember Chris Ward (D-San Diego).
Assembly Bill 1771 aims to discourage real estate speculation that Ward said drives up home prices as equity investors outbid individual home buyers.

The hold could now be at least 3 years if bill pass.

 

[Hugo Township]

3 years later and there is probably nothing that qualifies, new or resale, under $1m.

Crazy.

https://www.redfin.com/CA/Irvine/4942-Gainsport-Cir-92604/home/4667306

Price dropped 300k in one month. If I was a legit buyer, I would put an offer for 810k and see how desperate they are to sell.

Well, it closed for 1,205,000...

 

[Hugo Township]

Gainsport is a good one... except it backs the raillroad.

Nice culdesac location though and the interior has been updated.

I want to see what it sells for.

And power lines.

And if I'm right, there is another disclosure they would have to make as well.

If I wanted to live in it a few years, I'd buy it if it had a very steep discount, knowing I'd most likely have to keep it at least two years.

I think you are thinking about a different house:https://www.latimes.com/local/lanow/la-me-ln-irvine-double-homicides-20170202-story.html

Both houses are close to the railroad (which IMO is no big deal at all).

 

[Ready2Downsize]

Gainsport is a good one... except it backs the raillroad.

Nice culdesac location though and the interior has been updated.

I want to see what it sells for.

And power lines.

And if I'm right, there is another disclosure they would have to make as well.

If I wanted to live in it a few years, I'd buy it if it had a very steep discount, knowing I'd most likely have to keep it at least two years.

I think you are thinking about a different house:https://www.latimes.com/local/lanow/la-me-ln-irvine-double-homicides-20170202-story.html

Both houses are close to the railroad (which IMO is no big deal at all).

I can't read it other than it involves a murder. No murder and not that old.

 

[Hugo Township]

ah okay, I wasn't sure what you meant by your vague comment about disclosure

 

[milgauss]

3 years later and there is probably nothing that qualifies, new or resale, under $1m.

Crazy.

https://www.redfin.com/CA/Irvine/4942-Gainsport-Cir-92604/home/4667306

Price dropped 300k in one month. If I was a legit buyer, I would put an offer for 810k and see how desperate they are to sell.

Well, it closed for 1,205,000...

Can anyone explain how that happened? Who would offer that much after seeing the price drop? Did the price drop suddenly attract enough buyers to ignite a bidding war?

 

[irvinebullhousing]

3 years later and there is probably nothing that qualifies, new or resale, under $1m.

Crazy.

https://www.redfin.com/CA/Irvine/4942-Gainsport-Cir-92604/home/4667306

Price dropped 300k in one month. If I was a legit buyer, I would put an offer for 810k and see how desperate they are to sell.

Well, it closed for 1,205,000...

Can anyone explain how that happened? Who would offer that much after seeing the price drop? Did the price drop suddenly attract enough buyers to ignite a bidding war?

You can PM liar loans member on here and he will be the expert in Irvine pains to explain to you in very clear and concise details with charts on how it works.