Where da bears?
- Thread starter irvinehomeowner
- Start date
nosuchreality
Well-known member
momopi said:
Yes, the Fed's actions on interest rates has turned the table. People bought because they were afraid of being priced out forever. The Fed through interest rates, has now priced them in, forever.
They can't sell because they can't pay off the loan, they can't buy because there's effectively zero homes for sale. Okay, okay, 2500 homes sold last month. 2012 run rate was nearly 3000 a month. 2012 was still pathetic compared to the pre-bubble era. More importantly, there's only 2800 homes under a million for sale.
qwerty
Well-known member
i like that - you got priced in!
even if you are an FCB or an SDP (significant down payment, not to be confused with a TDP (twenty % down payment)) you will take a nice loss if you try to sell in higher rate environment in the next 3-5 years. but whether that higher rate environment comes to fruition is the million dollar question.
even if you are an FCB or an SDP (significant down payment, not to be confused with a TDP (twenty % down payment)) you will take a nice loss if you try to sell in higher rate environment in the next 3-5 years. but whether that higher rate environment comes to fruition is the million dollar question.
Irvinecommuter
New member
qwerty said:
I'm okay with it. I plan to stay in my place for the next 20 years.
same here, I bought in 2011 and do not ever plan to put up a for sale sign...just stay here and enjoy the local markets and restaurants and when feeling adventurous, check out the attractions in the rest of the O.C. My home value won't matter since I'm not ever going to use the equity (except truthfully a higher value will provide an intangible good feeling, I won't deny that).
homer_simpson
Well-known member
Not sure how you guys can stay put in one place for more than 5-10 years...
Irvinecommuter
New member
homer_simpson said:
Why not? Kid is young. I am in a neighborhood I like.
cubiczirconia
New member
homer_simpson said:
4.5 years and we are staying put this time. Two kids do wonders to your wanderlust
homer_simpson
Well-known member
Irvinecommuter said:
Different lifestyles I guess...
Irvinecommuter
New member
homer_simpson said:Irvinecommuter said:
Different lifestyles I guess...
I would do it even if I didn't have a kid. Avoiding the need to move alone would be incentive enough.
socal78
Well-known member
homer_simpson said:Irvinecommuter said:
Different lifestyles I guess...
Nah, it's just your age. You were basically in diapers 10 years ago. Right now to you, 5-10 years is a bigger portion of your lifespan than to an older person with older kids. The truth: *The older you get, the faster times goes.* One day, 5-10 years won't seem like so long.
nosuchreality
Well-known member
SoCal said:homer_simpson said:Irvinecommuter said:
Different lifestyles I guess...
Nah, it's just your age. You were basically in diapers 10 years ago. Right now to you, 5-10 years is a bigger portion of your lifespan than to an older person with older kids. The truth: *The older you get, the faster times goes.* One day, 5-10 years won't seem like so long.
Oh ****, time flies now...
qwerty
Well-known member
i really like our floor plan, giving up the size of the kitchen/great room and a 3CWG would be tough. the only reason we would move is to be closer to family in SD once we have kids, other wise, i dont see the need to move, especially since i dont see us ever outgrowing this place either. once the kids went off to college then i could see us downsizing and moving to a smaller place by the beach.
irvinehomeowner
Well-known member
Even though I could be his father... I'm with Homer... can't see myself in one place for more than 10 years... I think it's been 3, 6, 3, 4... and that 6 should have been a 4.
Starter Home: 3-5 years
Family Home: 3-5 years
Bigger Family Home: 5-10 years
Downsized Home: 5-10 years
Retirement Home: Until death.
Starter Home: 3-5 years
Family Home: 3-5 years
Bigger Family Home: 5-10 years
Downsized Home: 5-10 years
Retirement Home: Until death.
Irvinecommuter
New member
irvinehomeowner said:
That's the traditional model but you can't really move up anymore. You can't buy a place and expect to sell it in 5 years. Just went with the bigger family home and stay there for 20 years.
The Motor Court Company
Well-known member
irvinehomeowner said:
homer_simpson said:
We're empty nesters ... skipped the starter home, 15 years in typical family home, 5 years in bigger "entertainers" home, now downsized to a small home with everything we need in a great neighborhood with walking distance to shops and no desire or need to move again and will be our retirement home as well ...
momopi
Well-known member
http://www.latimes.com/business/mon...ousing-gains-in-march-20130417,0,858796.story
"The number of absentee and cash buyers were near record levels. Absentee buyers bought 30.6% of all homes, while people paying cash bought 34.1% of all homes in March."
"The number of absentee and cash buyers were near record levels. Absentee buyers bought 30.6% of all homes, while people paying cash bought 34.1% of all homes in March."
MonsterMom
New member
Haven't been here for a while.
I've purchased a SFR in Irvine back in the end of 2011/early 2012 for a tad lower than 700K. Back then already tons of investors out there tried to outbid us. We were lucky the first time we checked out the house the owners were there. They showed us around. I could tell from our conversation that they indeed loved that house and they didn't want to sell it to investors. Too bad they had to move to east coast that's why they were selling it. I made an offer which my agent thought they wouldn't accept. But I arranged to meet the owner again and personally told them they did such a wonderful job on the house and I have seen over 50 houses in Irvine only this one made me feel I could raise my kids here. By that evening I received my agent's phone call telling me I've got it.
I guess I was pretty lucky again b/c I just saw one of our neighbors (same model) recently closed at over $900K...
I don't think this is sustainable. I joked with my hubby about selling it, moving into a 2b apt, and waiting for the collapse. lol Wells Fargo and JPMorgan already reported their mortgage businesses were slowing down this quarter. China and India's economy went down, too. That mean maybe less FCB on their way. But I would say Irvine probably would hold their value best comparing to other cities around.
I've purchased a SFR in Irvine back in the end of 2011/early 2012 for a tad lower than 700K. Back then already tons of investors out there tried to outbid us. We were lucky the first time we checked out the house the owners were there. They showed us around. I could tell from our conversation that they indeed loved that house and they didn't want to sell it to investors. Too bad they had to move to east coast that's why they were selling it. I made an offer which my agent thought they wouldn't accept. But I arranged to meet the owner again and personally told them they did such a wonderful job on the house and I have seen over 50 houses in Irvine only this one made me feel I could raise my kids here. By that evening I received my agent's phone call telling me I've got it.
I guess I was pretty lucky again b/c I just saw one of our neighbors (same model) recently closed at over $900K...
I don't think this is sustainable. I joked with my hubby about selling it, moving into a 2b apt, and waiting for the collapse. lol Wells Fargo and JPMorgan already reported their mortgage businesses were slowing down this quarter. China and India's economy went down, too. That mean maybe less FCB on their way. But I would say Irvine probably would hold their value best comparing to other cities around.