Frustration with Irvine inventory!

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[quote author="ipoplaya" date=1244159534]On the topic of declining inventory, congrats to Deuce for <a href="http://www.redfin.com/CA/Tustin/1420-Lexington-St-92782/home/21627007">putting one into escrow</a> with less than a week on the market...



Hopefully he becomes the new RE face of that VoC quagmire!</blockquote>
Getting that home with that weird blue paint and funky shower curtain into escrow within 7 days speaks for itself. If I ever become a full-time agent and want to get in on the sell-side, I'll have to get IR2 to teach me his tricks of the trade.
 
[quote author="ipoplaya" date=1244159534]On the topic of declining inventory, congrats to Deuce for <a href="http://www.redfin.com/CA/Tustin/1420-Lexington-St-92782/home/21627007">putting one into escrow</a> with less than a week on the market...



Hopefully he becomes the new RE face of that VoC quagmire!</blockquote>


Wow, how is that not a short sale?
 
[quote author="usctrojanman29" date=1244160234][quote author="ipoplaya" date=1244159534]On the topic of declining inventory, congrats to Deuce for <a href="http://www.redfin.com/CA/Tustin/1420-Lexington-St-92782/home/21627007">putting one into escrow</a> with less than a week on the market...



Hopefully he becomes the new RE face of that VoC quagmire!</blockquote>
Getting that home with that weird blue paint and funky shower curtain into escrow within 7 days speaks for itself. If I ever become a full-time agent and want to get in on the sell-side, I'll have to get IR2 to teach me his tricks of the trade.</blockquote>


So, whats peoples opinion on the reason it went into escrow so quickly:



1. Deuces' formidable English/photo/marketing skills

2. The right price

3. All of the above
 
[quote author="Stuff It" date=1244163380]

So, whats peoples opinion on the reason it went into escrow so quickly:



1. Deuces' formidable English/photo/marketing skills

2. The right price

3. All of the above</blockquote>


I would say for the reasons you mentioned plus he left some pleasant surprises for the potential buyer as it has a loft in addition to the 3 bedrooms and I believe it's an end unit. His attention to detail is very good as exhibited in the photos. He also made a nice page for it at <a href="http://www.1420lexington.com/">1420lexington.com</a> with additional good photos and a nice music selection to boot.
 
[quote author="SoCal78" date=1244163832][quote author="Stuff It" date=1244163380]

So, whats peoples opinion on the reason it went into escrow so quickly:



1. Deuces' formidable English/photo/marketing skills

2. The right price

3. All of the above</blockquote>


I would say for the reasons you mentioned plus he left some pleasant surprises for the potential buyer as it has a loft in addition to the 3 bedrooms and I believe it's an end unit. His attention to detail is very good as exhibited in the photos. He also made a nice page for it at <a href="http://www.1420lexington.com/">1420lexington.com</a> with additional good photos and a nice music selection to boot.</blockquote>


Why does the owner store his tools in the master bedroom?



<img src="http://www.ipoplaya.com/1420lex.jpg" alt="" />



<img src="http://www.ipoplaya.com/toolchest.jpg" alt="" />
 
[quote author="SoCal78" date=1244163832][quote author="Stuff It" date=1244163380]

So, whats peoples opinion on the reason it went into escrow so quickly:



1. Deuces' formidable English/photo/marketing skills

2. The right price

3. All of the above</blockquote>


I would say for the reasons you mentioned plus he left some pleasant surprises for the potential buyer as it has a loft in addition to the 3 bedrooms and I believe it's an end unit. His attention to detail is very good as exhibited in the photos. He also made a nice page for it at <a href="http://www.1420lexington.com/">1420lexington.com</a> with additional good photos and a nice music selection to boot.</blockquote>


whoa whoa whoa.....whoa.......



This is the IHB forum, not the NAR website. The reason it went into escrow so quickly is due to either:



1. Bear Market Rally

2. Asian Buyers

3. Fraud



Or are we changing our minds, that there are good buys out there in the entry level market?
 
[quote author="tkaratz" date=1244164534][quote author="SoCal78" date=1244163832][quote author="Stuff It" date=1244163380]

So, whats peoples opinion on the reason it went into escrow so quickly:



1. Deuces' formidable English/photo/marketing skills

2. The right price

3. All of the above</blockquote>


I would say for the reasons you mentioned plus he left some pleasant surprises for the potential buyer as it has a loft in addition to the 3 bedrooms and I believe it's an end unit. His attention to detail is very good as exhibited in the photos. He also made a nice page for it at <a href="http://www.1420lexington.com/">1420lexington.com</a> with additional good photos and a nice music selection to boot.</blockquote>


whoa whoa whoa.....whoa.......



This is the IHB forum, not the NAR website. The reason it went into escrow so quickly is due to either:



1. Bear Market Rally

2. Asian Buyers

3. Fraud



Or are we changing our minds, that there are good buys out there in the entry level market?</blockquote>


There do seem to be people succumbing to our first bear rally. It was easier to have faith in continued price declines when there was consistent downward movement. It is more difficult in a bear rally.
 
[quote author="tkaratz" date=1244164534]

whoa whoa whoa.....whoa.......



This is the IHB forum, not the NAR website. The reason it went into escrow so quickly is due to either:



1. Bear Market Rally

2. Asian Buyers

3. Fraud



Or are we changing our minds, that there are good buys out there in the entry level market?</blockquote>


Are you saying that a seller putting their best foot forward as well as using strategic marketing and attempts at emotional appeal have zero effect on a buyer? In my opinion, you have to have both ability and desire. If it is priced right you increase the chances they have the ability to buy it and if you market it as Deuce does, you increase one's desire to buy it. If showcasing a home had no effect on buyers then model homes would not be staged. A seller still has to set themselves apart. Just my two bits.
 
[quote author="SoCal78" date=1244170248][quote author="tkaratz" date=1244164534]

whoa whoa whoa.....whoa.......



This is the IHB forum, not the NAR website. The reason it went into escrow so quickly is due to either:



1. Bear Market Rally

2. Asian Buyers

3. Fraud



Or are we changing our minds, that there are good buys out there in the entry level market?</blockquote>


Are you saying that a seller putting their best foot forward as well as using strategic marketing and attempts at emotional appeal have zero effect on a buyer? In my opinion, you have to have both ability and desire. If it is priced right you increase the chances they have the ability to buy it and if you market it as Deuce does, you increase one's desire to buy it. If showcasing a home had no effect on buyers then model homes would not be staged. A seller still has to set themselves apart. Just my two bits.</blockquote>


Well for one, this is a new home, and inherently had appeal, the agent's blurb added nothing to the marketability of the listing. "Strategic marketing"? How do you strategically market for a week? The agent simply listed the home on the MLS.



"If it is priced right you increase the chances they have the ability to buy it", this is the point i'm driving at, 6 months ago, there was no listing that was priced right. I think its obvious that sellers have been able to meet the price points of buyers in at least one segment of the market where those buyers are willing to pay above asking and purchase a home within a week of listing. This is indicative of a market bottom. Although, as I previously mentioned, there is still no sense in buying now and big picture, renting is much more financially responsible if one is disciplined.



But, I think the emergence of many realtors posting on this site as well as the site admins themselves kicking off their own sales team is all the proof I need to recognize that many of you are getting anxious about getting in on the bottom. The other problem i have with all these realtors using this site is that you are all becoming this pathetic old boys club, praising and congratulating one another on one of your own's successful listings while mocking other listings. The forum is losing it's unbiased bite and unabated schadenfreude. I dunno, the premise of IHB won't last forever, maybe this is it's next evolution, a network for trash talking realtors.
 
[quote author="ipoplaya" date=1244164471]Why does the owner store his tools in the master bedroom?



<img src="http://www.ipoplaya.com/1420lex.jpg" alt="" />



<img src="http://www.ipoplaya.com/toolchest.jpg" alt="" /></blockquote>


As soon as I saw those drawers, I wanted to go to the Sears site to snag a pic of a Craftsman black tool box. You beat me to it. I'd say great minds think alike, but everyone knows the truth... we rarely think alike, but that is what makes this forum so fun.
 
[quote author="tkaratz" date=1244172176]The other problem i have with all these realtors using this site is that you are all becoming this pathetic old boys club, praising and congratulating one another on one of your own's successful listings while mocking other listings. The forum is losing it's unbiased bite and unabated schadenfreude. I dunno, the premise of IHB won't last forever, maybe this is it's next evolution, a network for trash talking realtors.</blockquote>


As Irvine Home Owner pointed out, this is a real estate forum. If it starts to take on an atmosphere of bullshit, please point it out. If the bullshit police are not watching, it could quickly deteriorate into a forum I would not frequent. One of the cornerstones of the IHB has been revealing realtorspeak for the nonsense it is. I hope that never changes.
 
[quote author="ipoplaya" date=1244164471]Why does the owner store his tools in the master bedroom?

<img src="http://www.ipoplaya.com/1420lex.jpg" alt="" />



<img src="http://www.ipoplaya.com/toolchest.jpg" alt="" /></blockquote>
C'mon... Deuce probably ran out ideas when he was staging it and was thinking of ways to attract me to the property.



"What if we make your master look like a garage?"
 
[quote author="traceimage" date=1244270197]I don't feel priced out of Irvine, but I do feel inventoried out. Anyone else feel that way?</blockquote>


Yup.
 
[quote author="stepping_up" date=1244159831]Wow, can that guy ever write a description and provide the photos to stand behind it!</blockquote>


I second that; very well done.
 
I noticed the inventory is creeping up again. I've really noticed a surge in equity sellers in the cities I've been tracking. Also seeing a lot of WTF listings. I guess a lot of owners that have been waiting on the slide lines for some sign of improvement are trying to get out. The questions is how large is this pool of pent up sellers. I remember seeing the results of a survey for owners that wanted to sell but were waiting for things to turnaround. I can't find it though. Anyone?
 
I have also noticed quite a few WTF listings that appear to be moving quickly (at least showing as backup offiers accepted). I got really bummed out the other day when a property that IR profiled back in late March appeared as a completed sale in early June for $1.35 million. The irritating part was that it sold in I think '01 or '02 for $1 million. First of all, who are these people who can still afford these ridiculous prices - I clearly need to start moving into their line of work. Second, these yahoos are just propping up these crazy prices so that the inevitable is being delayed that much longer for everyone else.
 
[quote author="ocresident73" date=1247487087]who are these people who can still afford these ridiculous prices - I clearly need to start moving into their line of work. </blockquote>
Then you gotta become Chinese overnight :x
 
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