advice about moving to/buying in irvine

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dr surfdog_IHB

New member
Hi, I'm an out-of-state OC native moving back this summer. We're considering buying in Irvine due to proximity to decent schools, new job, beaches, and uh, my mom who lives in Woodbridge. As an IHB newbie, I'm interested in some expert opinions on the following questions/observations:



1. Is $400-550K a reasonable price point for a 3-4 bedroom (condo or detached, at least 1400 sq ft) that's not within 1000 ft of a freeway, train track, or former military waste site? I've been lurking on Redfin and scanning MLS listings and it seems the quality is inconsistent for comparably priced homes (typical in a volatile market).



2. Are auctions or REOs worth considering in Irvine? If so, can someone recommend a listing source? I tried RealtyTrac and the interface is terribly clunky.



3. I've heard homes are getting snatched up by foreign buyers; is this true? Could be a temporary driver that's reducing downward pricing pressure?



4. Are there any trustworthy agents out there? I have a good friend I trust who is an agent but he focuses on Capo. I know agents specialize so I'm not sure he'd be the best fit. I've also bought, sold, then bought again without buy or sell side agents, so not sure of the value.



Any expert opinions would be much appreciated!
 
answer to #4



Look no more. IR2 known as "Irvine Realtor is your man!" He is best real estate agent in all of Irvine.
 
Note to self: be nicer to Panda. I appreciate the mojo.



Note to dr. surfdog: if you are looking to be closer to the beach (Newport Coast, maybe?) there is <a href="http://www.irvinehousingblog.com/forums/member/990/">sell4u </a>who specializes in that area that also participates on the blog here.

I specialize on the more inland side of Irvine and Tustin and don't know as much about the ins-and-outs of that coast area. As you correctly pointed out, you are going to want a local person with good credibility. He has delivered.

There's also <a href="http://www.irvinehousingblog.com/forums/member/923/">jessebee </a>, <a href="http://www.irvinehousingblog.com/forums/member/1225/">usctrojanman29</a>, and <a href="http://www.irvinehousingblog.com/forums/member/1438/">Cuatro </a>available and I don't know which areas they specialize in. But all have been around and would have been flamed on the board if they had been abusing their clients. It is a good "accountability" check. Almost like an eBay-style feedback system, but not quite.



Regardless - thank you, welcome, and good luck.

-IrvineRealtor



P.S. If/when your mom wants to sell in Woodbridge, I'll be here.
 
[quote author="dr surfdog" date=1231457311]Hi, I'm an out-of-state OC native moving back this summer. We're considering buying in Irvine due to proximity to decent schools, new job, beaches, and uh, my mom who lives in Woodbridge. As an IHB newbie, I'm interested in some expert opinions on the following questions/observations:



1. Is $400-550K a reasonable price point for a 3-4 bedroom (condo or detached, at least 1400 sq ft) that's not within 1000 ft of a freeway, train track, or former military waste site? I've been lurking on Redfin and scanning MLS listings and it seems the quality is inconsistent for comparably priced homes (typical in a volatile market).



2. Are auctions or REOs worth considering in Irvine? If so, can someone recommend a listing source? I tried RealtyTrac and the interface is terribly clunky.



3. I've heard homes are getting snatched up by foreign buyers; is this true? Could be a temporary driver that's reducing downward pricing pressure?



4. Are there any trustworthy agents out there? I have a good friend I trust who is an agent but he focuses on Capo. I know agents specialize so I'm not sure he'd be the best fit. I've also bought, sold, then bought again without buy or sell side agents, so not sure of the value.



Any expert opinions would be much appreciated!</blockquote>


If one was to buy a home directly from out of state with honest intentions to move into their new home in California as their primary residence, would it be more difficult for this person to qualify for a loan in California if his income and credit score meets or exceeds the requirements of getting a mortgage loan in that state. I have never filed any taxes in the State of California since i am not a resident there. Since i plan to buy my OC home directly from Chicago sometime next year, I was wondering how this would affect me?



Thanks in advance for any advice.
 
Dude (assuming you are a dude) rent for 6 months. No offense, but that drives me nuts everytime I hear that people buy a home before they even move to the area. I understand you may be from here, but take the time to get acclimated to the area again. After a few months you can begin to start house shopping without feeling rushed to buy sight-unseen.



As far as your price point is concerned, I have no idea. It depends on your income and other fixed monthly obligations. By the way, rents are plummeting here in Irvine. For IAC rentals and private rentals.
 
[quote author="lendingmaestro" date=1231465761]Dude (assuming you are a dude) rent for 6 months. No offense, but that drives me nuts everytime I hear that people buy a home before they even move to the area. I understand you may be from here, but take the time to get acclimated to the area again. After a few months you can begin to start house shopping without feeling rushed to buy sight-unseen.



As far as your price point is concerned, I have no idea. It depends on your income and other fixed monthly obligations. By the way, rents are plummeting here in Irvine. For IAC rentals and private rentals.</blockquote>
Great advice here. Nothing wrong with renting for 6-12 months and doing a passive search while really getting to know the area.



In terms of the areas that I know about are...Irvine, Tustin Ranch, Huntington Beach, Costa Mesa, and Fountain Valley (all areas where I've lived).
 
I highly recommend renting too... not only does it save you cost-wise... but it does give you a chance to try before you buy.



And you would still want to use a Realtor for private rentals... IrvineRealtor is highly recommended... he also does light landscaping too (heh).



Good luck on your move to the OC.
 
[quote author="dr surfdog" date=1231457311]Hi, I'm an out-of-state OC native moving back this summer. We're considering buying in Irvine due to proximity to decent schools, new job, beaches, and uh, my mom who lives in Woodbridge. As an IHB newbie, I'm interested in some expert opinions on the following questions/observations:



1. Is $400-550K a reasonable price point for a 3-4 bedroom (condo or detached, at least 1400 sq ft) that's not within 1000 ft of a freeway, train track, or former military waste site? I've been lurking on Redfin and scanning MLS listings and it seems the quality is inconsistent for comparably priced homes (typical in a volatile market).

</blockquote>


<a href="http://www.irvinehousingblog.com/blog/comments/debt-to-income-ratios-the-forgotten-variable/">http://www.irvinehousingblog.com/blog/comments/debt-to-income-ratios-the-forgotten-variable/</a>



The featured property is 3 bed 3 bath, 1569 sq ft, 2 car garage, built in 2000. It's in Tustin unified school district (not bad), not within 1,000 feet to a freeway, train track, for former military waste site. It's a couple blocks from Tustin Marketplace where you can do all your shopping. $500k.
 
i too would rent in the neighborhood that you think you want to buy in, so that you can check it out and confirm that it is the place you will want to live for 5-10 years.
 
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