usctrojancpa
Well-known member
Another ranch style listing in my neighborhood, about 1100 per sqft
Remember that single story homes trade around 15%-20% higher on a price per square foot basis as compared to 2-story homes.
Another ranch style listing in my neighborhood, about 1100 per sqft
Good flip.
I do wonder - don’t the sellers lose money by doing the flip within 3 month like this?If you think that's bad, take a look at this one....listed for $3.75m in March and closed for $3.49m and now it's listed for $3.85m.
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yea but probably better than paying almost 20k in mortgage every month. paying 43% downpayment and still needing to pay 20k in mortgage a month is crazy for this type of home.I do wonder - don’t the sellers lose money by doing the flip within 3 month like this?
If there is a loan, it's likely an IO based line of credit. Very low cost given how long the draw is active. Most flips are all cash purchases so the only expense is the theoretical loss of potential earned interest.I do wonder - don’t the sellers lose money by doing the flip within 3 month like this?
If there is a loan, it's likely an IO based line of credit. Very low cost given how long the draw is active. Most flips are all cash purchases so the only expense is the theoretical loss of potential earned interest.
For the money laundering flips (quick resale, no improvements) zero profit is acceptable, even a small loss works as well, as all they want is for that wire at closing to have that freshly laundered smell.
The price bumping quick flips will be coming to an end shortly as the market is slowing down and inventory is starting to pile up.
My luck is just shit. The only consolation I take from this is that at least I will get to experience a bit of that "Irvine pain". Not A LOT like the sellers 6 months ago, just a little bit, but better than nothing.Every time @CalBears96 is about to sell his house, market slows down![]()
Hmm… based on the pricing trend, I bet FCB moved on to 5m+ market, 2m is the new 900k for Irvine working class.That's crazy...2m+ home and doesn't have an actual driveway but instead a motorcourt. The power of FCB....
If you want to clap back, I hope you are prepared with evidence. All the listings below are all below 5m and are FCB owners within the vicinity of CalBears that are in the market currently:Hmm… based on the pricing trend, I bet FCB moved on to 5m+ market, 2m is the new 900k for Irvine working class.
okay - I clicked the links, where was the “FCB owner” check box in the listing?If you want to clap back, I hope you are prepared with evidence. All the listings below are all below 5m and are FCB owners within the vicinity of CalBears that are in the market currently:
https://www.redfin.com/CA/Irvine/105-Yellow-Iris-92618/home/184738404 - FCB owner
https://www.redfin.com/CA/Portola-Hills/117-Halworth-92679/home/180436285 - FCB owner
https://www.redfin.com/CA/Irvine/105-Trumpet-Flower-92618/home/173442192 - FCB owner
https://www.redfin.com/CA/Irvine/107-Ritual-92618/home/143912240 - FCB owner
https://www.redfin.com/CA/Irvine/113-Tall-Reed-92618/home/188048353 - LLC owner (prob FCB)
None. I have a way to check the info.okay - I clicked the links, where was the “FCB owner” check box in the listing?