Housing Analysis
- Thread starter eyephone
- Start date
NEW -> Contingent Buyer Assistance Program
In my opinion, all of those are part and parcel with home ownership, not the actual real estate transaction (at close of escrow).
To me, the congratulations is on the purchase and sale, not the subsequent ownership.
Seller: Win=sold the home for the price they wanted, Lose=sold the home for much less than they wanted (this happens)
Buyer: Win=bought the home they wanted for the price they could afford, Lose=bought for much more than they could afford
Anything after that point in time is no longer part of the equation as that goes under ownership as a whole which is what buyers willingly decided to do knowing there would be risks.
You keep mentioning the Great Recession, but using your logic, didn't many of those buyers end up winners if they rode it out? Most homes in Irvine bought at the peak of 05/06 or even before 11/12 when prices were dropping should be at or above now.
Applying your definition, if there is a slowdown, then everyone who bought within the last 2 years are losers?
And what are the sellers' losses that time would reveal?
Again, doesn't that usually happen this time of year?
IHO, you can define it however you want to. I disagree with your take, and you disagree with mine.
I use the great recession because it's extreme and would make your point of congratulating knife catchers at close of escrow seem laughable.
I also said time can change everything. Thanks for making my point for me.
As for the sellers' losses that time would reveal, I already gave you one above. My parents sold too early and too low. They (and their agent) did not do their due diligence and missed the impending school rezoning. But they sure did get a congrats at the end of escrow. So that makes everything peachy right?
It's value falling after is using your definition, not mine. And if we would to further apply your definition, after more time, if they kept the house, they ended up a winner. Like you said:
Applying time to something adds a myriad of factors that is neither defensible or predictable... and I'll get into that next.
Question: At the time they sold, did they think they were getting a good price?
So back to the application of time... this is topical because it goes with what I was discussing about waiting. Because no one can really guess accurately what time is going to do to housing prices, availability... and even school zones... so that makes waiting a risky proposal for some (and in my case, unfavorable).
Tell me something that is not in the news. low blow,,,ouch 8)
So this is North West. How do you translate that to OC? Particularly Irvine?
I don't think William Lyon Homes is planning to build a ghost town either. I was just asking since you said millennials are not buying homes whereas I thought Novel Park was building many small attached homes targeting towards those millennials or younger folks.
Shrug. Is it? Aren?t they both transactions?
Isn?t nitpicking the phrase ?congrats to both the buyer and seller? ?pathetic?? Isnt it just something people say without really thinking about winning and losing?
Many people are proud to be homeowners. Isn?t that enough to warrant a congrats?
irvinehomeowner
Well-known member
Kenkoko said:
In my opinion, all of those are part and parcel with home ownership, not the actual real estate transaction (at close of escrow).
To me, the congratulations is on the purchase and sale, not the subsequent ownership.
Seller: Win=sold the home for the price they wanted, Lose=sold the home for much less than they wanted (this happens)
Buyer: Win=bought the home they wanted for the price they could afford, Lose=bought for much more than they could afford
Anything after that point in time is no longer part of the equation as that goes under ownership as a whole which is what buyers willingly decided to do knowing there would be risks.
You keep mentioning the Great Recession, but using your logic, didn't many of those buyers end up winners if they rode it out? Most homes in Irvine bought at the peak of 05/06 or even before 11/12 when prices were dropping should be at or above now.
Applying your definition, if there is a slowdown, then everyone who bought within the last 2 years are losers?
And what are the sellers' losses that time would reveal?
irvinehomeowner
Well-known member
eyephone said:
Again, doesn't that usually happen this time of year?
irvinehomeowner said:
IHO, you can define it however you want to. I disagree with your take, and you disagree with mine.
I use the great recession because it's extreme and would make your point of congratulating knife catchers at close of escrow seem laughable.
I also said time can change everything. Thanks for making my point for me.
As for the sellers' losses that time would reveal, I already gave you one above. My parents sold too early and too low. They (and their agent) did not do their due diligence and missed the impending school rezoning. But they sure did get a congrats at the end of escrow. So that makes everything peachy right?
irvinehomeowner
Well-known member
You are right, we each have our own take of what defines a winner/loser in a transaction, I just feel that your application is too ambiguous because of the application of time.Kenkoko said:
Why? Using my definition, even a knife-catcher bought a house at a price he thought was good.
It's value falling after is using your definition, not mine. And if we would to further apply your definition, after more time, if they kept the house, they ended up a winner. Like you said:
But that's also why I said using time is ambiguous because the situation will change, whereas the "congratulations" is coming at a defined point in time and so at that time, you can better discern who "won". That's what I disagree with and I am not saying you are wrong or "pathetic" or "laughable", I just disagree with the methodology you are using.
Applying time to something adds a myriad of factors that is neither defensible or predictable... and I'll get into that next.
Sorry, couldn't tell from your post that was a sell situation, sounded like your parents bought and then the school got rezoned and the prices went down, but it was the opposite, they sold, the school rezoned and prices jumped (is that right?).
Question: At the time they sold, did they think they were getting a good price?
So back to the application of time... this is topical because it goes with what I was discussing about waiting. Because no one can really guess accurately what time is going to do to housing prices, availability... and even school zones... so that makes waiting a risky proposal for some (and in my case, unfavorable).
IHO, yes they sold before the schools rezoned. Prices jumped after that.
I think congratulations are pre-mature at the close of escrow. You think otherwise. Your methodology does not make sense to me. I presume you feel the same about mine.
We are dancing around the same issue. We?re not going to convince each other. Let?s just drop this.
I never said you or anyone is ?wrong?. I truly feel congratulating knife catchers from the great recession is laughable. I hope that did not offend you, certainly did not mean to.
I honestly feel Bone?s attempt to compare my marriage to RE transaction is pathetic. Marriage has a sacred meaning to me.
I think congratulations are pre-mature at the close of escrow. You think otherwise. Your methodology does not make sense to me. I presume you feel the same about mine.
We are dancing around the same issue. We?re not going to convince each other. Let?s just drop this.
I never said you or anyone is ?wrong?. I truly feel congratulating knife catchers from the great recession is laughable. I hope that did not offend you, certainly did not mean to.
I honestly feel Bone?s attempt to compare my marriage to RE transaction is pathetic. Marriage has a sacred meaning to me.
irvinebullhousing
Well-known member
eyephone said:
Tell me something that is not in the news. low blow,,,ouch 8)
irvinebullhousing
Well-known member
eyephone said:
So this is North West. How do you translate that to OC? Particularly Irvine?
irvinebullhousing
Well-known member
Rentals are in demands now more than ever.
Those that are priced out, waiting and timing the market gotta continue to live and rent in the meantime. Millennial will / is a huge driving force behind the rentals. They don?t believe in owning and tie down. Plus the recent grads are bunking together and guess what they prefer homes vs. apartment. There it?s something new and not in the news for y?all.
Those that are priced out, waiting and timing the market gotta continue to live and rent in the meantime. Millennial will / is a huge driving force behind the rentals. They don?t believe in owning and tie down. Plus the recent grads are bunking together and guess what they prefer homes vs. apartment. There it?s something new and not in the news for y?all.
irvinebullhousing
Well-known member
Professional, young, financially stables. There is always some that would want to buy.
Do you think WL build it to have it sit empty.? Think again, then ask if those rent want to be forever renters. They do it out of neccesity and time the market accordingly.
There is nothing wrong with that.
Do you think WL build it to have it sit empty.? Think again, then ask if those rent want to be forever renters. They do it out of neccesity and time the market accordingly.
There is nothing wrong with that.
Compressed-Village said:
I don't think William Lyon Homes is planning to build a ghost town either. I was just asking since you said millennials are not buying homes whereas I thought Novel Park was building many small attached homes targeting towards those millennials or younger folks.
Kenkoko said:
Shrug. Is it? Aren?t they both transactions?
Isn?t nitpicking the phrase ?congrats to both the buyer and seller? ?pathetic?? Isnt it just something people say without really thinking about winning and losing?
Many people are proud to be homeowners. Isn?t that enough to warrant a congrats?