Bestest Newest Detachedest Home in Irvine for less than $1m?

[BruinRevolution]

Ahhh good point. I think the $988K and the '4' may be scaring our FCB friends. As an ABC, I suppose I never subscribed to those superstitions.

My superstitions are more like not staying on the 13th floor, watching free throws during crucial Laker games and wearing the same old Bruin jersey on Football Saturday's.

All kidding aside, I think you're right IHO. 6-packs are only a good look on abs.  ;D

 

[irvinehomeowner]

Actually, this one is amazing too. Check out that lot size. Wow. Maybe it's the high property tax that's holding it back?
https://www.redfin.com/CA/Irvine/260-Wicker-92618/home/112718268

This one is nice, Pavilion Park, which is the best hood in GP.

The lot isn't actually that big, but the surrounding area is just trees so that's nice. If I remember these Roundtree plans, it just feels a bit cramped upstairs, but I would probably get this one over the Portola Springs one (and no '4' in the address).

These are good finds.

 

[BruinRevolution]

Ahh, good to know SC CPA. Was tempted to view the place myself.

On an somewhat related note, I love your contributions here and have read them for years. You're definitely a real estate Jedi Master around these parts.

My big question is- I heard from someone (not entirely credible) that SC coaches have notified Mater Dei coaches that JT Daniels will in fact start for your Trojans during Game 1.

Thoughts?

As for my squad, I just hope Chip starts to right the ship this year. Despite all our warts, we have some talent remaining from the Mora era.

 

[irvinehomeowner]

Actually, this one is amazing too. Check out that lot size. Wow. Maybe it's the high property tax that's holding it back?
https://www.redfin.com/CA/Irvine/260-Wicker-92618/home/112718268

Problem with this one is that it backs up to Irvine Blvd which is a very busy street with lots of car traffic.

Oh yeah. Didn't notice that. Even with the large setback... probably still a lot of noise... close to the toll road too.

 

[usctrojancpa]

Ahh, good to know SC CPA. Was tempted to view the place myself.

On an somewhat related note, I love your contributions here and have read them for years. You're definitely a real estate Jedi Master around these parts.

My big question is- I heard from someone (not entirely credible) that SC coaches have notified Mater Dei coaches that JT Daniels will in fact start for your Trojans during Game 1.

Thoughts?

As for my squad, I just hope Chip starts to right the ship this year. Despite all our warts, we have some talent remaining from the Mora era.

Thank you for the kind words.  You know, I wouldn't be surprised if JT starts in the fall since he is a really good QB and I was following him at Mater Dei since I'm an MD allow as well.  I'm also a UCLA alum so I follow the Bruins too.  Chip is going to need a few years to bring in his type of players but they should have a more exciting offense.  I actually like when both teams play well. 

 

[BruinRevolution]

Welp, looks like 124 Yellow Pine and 260 Wicker changed to pending within the past 24 hours.

 

[paperboyNC]

Welp, looks like 124 Yellow Pine and 260 Wicker changed to pending within the past 24 hours.

#EverythingWeTouchTurnstoSold #Winning

 

[irvinehomeowner]

It's a good thing I bought years ago.

I don't think there is much I could afford/like now in Irvine if I were just starting out.

Starter homes in the same range I bought back in the day are over 4 times what I paid, and interest rates aren't 1/4 of the rate back then and salaries are not 4 times what they were.

I think this is also why demographics in Irvine have skewed the way they have... only FCBs, move up buyers, and young graduates in certain fields can afford it here.

 

[paperboyNC]

It's a good thing I bought years ago.

I don't think there is much I could afford/like now in Irvine if I were just starting out.

Starter homes in the same range I bought back in the day are over 4 times what I paid, and interest rates aren't 1/4 of the rate back then and salaries are not 4 times what they were.

I think this is also why demographics in Irvine have skewed the way they have... only FCBs, move up buyers, and young graduates in certain fields can afford it here.

Agreed. For all of the talk about a down market, there are a ton of buyers waiting on the sidelines to be able to afford a home that suits their needs. A jump in inventory and slow down in price increases will simply boost sales.

Right now, very little of the new inventory is affordable / desirable.

 

[usctrojancpa]

It's a good thing I bought years ago.

I don't think there is much I could afford/like now in Irvine if I were just starting out.

Starter homes in the same range I bought back in the day are over 4 times what I paid, and interest rates aren't 1/4 of the rate back then and salaries are not 4 times what they were.

I think this is also why demographics in Irvine have skewed the way they have... only FCBs, move up buyers, and young graduates in certain fields can afford it here.

Agreed. For all of the talk about a down market, there are a ton of buyers waiting on the sidelines to be able to afford a home that suits their needs. A jump in inventory and slow down in price increases will simply boost sales.

Right now, very little of the new inventory is affordable / desirable.

Agreed, I see more and more listing that have stupid listing prices.  It's almost like the sellers are telling the buyers..."overpay me in order for me to sell to you"...those are what I call unmotivated sellers.  After lingering on the market for a while, unless they drop their prices closer to comps, they'll just de-list their home and try again later.

 

[Mety]

It's a good thing I bought years ago.

I don't think there is much I could afford/like now in Irvine if I were just starting out.

Starter homes in the same range I bought back in the day are over 4 times what I paid, and interest rates aren't 1/4 of the rate back then and salaries are not 4 times what they were.

I think this is also why demographics in Irvine have skewed the way they have... only FCBs, move up buyers, and young graduates in certain fields can afford it here.

What does that sound like?  A bubble?

 

[usctrojancpa]

It's a good thing I bought years ago.

I don't think there is much I could afford/like now in Irvine if I were just starting out.

Starter homes in the same range I bought back in the day are over 4 times what I paid, and interest rates aren't 1/4 of the rate back then and salaries are not 4 times what they were.

I think this is also why demographics in Irvine have skewed the way they have... only FCBs, move up buyers, and young graduates in certain fields can afford it here.

What does that sound like?  A bubble?

IHO is probably talking about home prices back in the late 90s.  So trying to compare prices from 20 years ago to day is futile.  Are the prices in Irvine high?  Yes, they are.  Are we in a bubble?  Not that I see, try getting a loan today...you will get fully underwritten and probed.  There is no panic buying that you see in a bubble, even in the sub $1m market buyers are selective and focus on good floor plans in good locations that are priced appropriately.  Overprice a home today and it will sit and sit and sit.

 

[irvinehomeowner]

It's a good thing I bought years ago.

I don't think there is much I could afford/like now in Irvine if I were just starting out.

Starter homes in the same range I bought back in the day are over 4 times what I paid, and interest rates aren't 1/4 of the rate back then and salaries are not 4 times what they were.

I think this is also why demographics in Irvine have skewed the way they have... only FCBs, move up buyers, and young graduates in certain fields can afford it here.

What does that sound like?  A bubble?

IHO is probably talking about home prices back in the late 90s.  So trying to compare prices from 20 years ago to day is futile.  Are the prices in Irvine high?  Yes, they are.  Are we in a bubble?  Not that I see, try getting a loan today...you will get fully underwritten and probed.  There is no panic buying that you see in a bubble, even in the sub $1m market buyers are selective and focus on good floor plans in good locations that are priced appropriately.  Overprice a home today and it will sit and sit and sit.

Well, I'm not trying to compare just prices... I'm also comparing interest rates and wages to come up with an affordability index for starters. That just doesn't seem to math out for a 2bed/1.5ba SFR in Irvine. If you go attached/condo, you can get under $500k but that's probably doesn't DTI ratio out for a young single graduate who has some savings.

Just wondering where my kids are going to live when they get to be in their 20s... home with us.

 

[misme]

It's a good thing I bought years ago.

I don't think there is much I could afford/like now in Irvine if I were just starting out.

Starter homes in the same range I bought back in the day are over 4 times what I paid, and interest rates aren't 1/4 of the rate back then and salaries are not 4 times what they were.

I think this is also why demographics in Irvine have skewed the way they have... only FCBs, move up buyers, and young graduates in certain fields can afford it here.

What does that sound like?  A bubble?

IHO is probably talking about home prices back in the late 90s.  So trying to compare prices from 20 years ago to day is futile.  Are the prices in Irvine high?  Yes, they are.  Are we in a bubble?  Not that I see, try getting a loan today...you will get fully underwritten and probed.  There is no panic buying that you see in a bubble, even in the sub $1m market buyers are selective and focus on good floor plans in good locations that are priced appropriately.  Overprice a home today and it will sit and sit and sit.

Well, I'm not trying to compare just prices... I'm also comparing interest rates and wages to come up with an affordability index for starters. That just doesn't seem to math out for a 2bed/1.5ba SFR in Irvine. If you go attached/condo, you can get under $500k but that's probably doesn't DTI ratio out for a young single graduate who has some savings.

Just wondering where my kids are going to live when they get to be in their 20s... home with us.

You''ll be even happier you have a 3 car garage if/when that day comes

I have two houses down the street from me, one with 5 cars, another with 4 cars, due to large multigenerational households...somehow its karma that they are right next to each other and constantly fighting for parking space.

One has retiree couple, with very elderly mother in law, and two adult children (both with post-grad professional degrees), and live in boyfriend!

Thank god in a way for absentee overseas owners who don't take up valuable parking space