irvinebullhousing
Well-known member
Mety said:
Ha ha, you and I think alike
Housing Analysis
- Thread starter eyephone
- Start date
NEW -> Contingent Buyer Assistance Program
Ha ha, you and I think alike
It's all a paper loss until a sale is completed. Anyhow, I always have buyers ask me....is this a good time to buy? where is the market heading? I tell them I have no idea where the market will go as it'll do what it wants but only buy if you plan on living in the home for 5-7+ years and the home checks most all of the boxes for you. It's been proven that Irvine home prices have and will increase over the longer term. One factor that I consider for is that there is a serious overhang of unsold new homes in Irvine (today's shadow inventory) so once this clears out it'll take some pressure on pricing.
Hah. Irvine homes will retain their value better than most other OC cities. Not even eyephone or meccos12 will deny that.
Yeah. When you say this no one really questions you.
When I say it... my credibility and experience gets scrutinized.
IHO, that?s what you?ve been saying all along.
Although, to be legit, you have to have CA BRE License # in your signatures. Ha ha.
I can see that happening as the supply of lower end homes is a lot lower compares to higher end homes as a function of how many buyers there are in both markets.
Two things provided support for real estate in 2019....rates dropping over 1% and the economy stayed strong. The market was fairly balances in 2019 for both buyers and sellers. Good properties that were priced right sold quickly and overpriced one with bad locations/layouts/upgrades did not.
So have the price lags hit?
Or is someone going to tell me December of *next* year.
There is a few more days left in 2019, the number could still drop and crash hard, ha ha.. Where is LL and his rhetorics.
Happy New Year, may 2020 be the year of great joy watching the housing market bring you joys. Whichever side you play for.
What's interesting is that inventory levels YOY are down for Nov & Dec while sales YOY are up for that same period for Irvine so the months of inventory has come down. Just as a data point, I have had 5 new buyer (referrals and my move-up clients) in the past 2 weeks who are starting their home search plus I'm seeing more multiple counter offer situations on properties that I'm making offers on. I'll post the data through Dec 2019 next week in my thread.
Ha ha, you and I think alike
usctrojancpa
Well-known member
Liar Loan said:
It's all a paper loss until a sale is completed. Anyhow, I always have buyers ask me....is this a good time to buy? where is the market heading? I tell them I have no idea where the market will go as it'll do what it wants but only buy if you plan on living in the home for 5-7+ years and the home checks most all of the boxes for you. It's been proven that Irvine home prices have and will increase over the longer term. One factor that I consider for is that there is a serious overhang of unsold new homes in Irvine (today's shadow inventory) so once this clears out it'll take some pressure on pricing.
irvinehomeowner
Well-known member
Liar Loan said:
Hah. Irvine homes will retain their value better than most other OC cities. Not even eyephone or meccos12 will deny that.
irvinehomeowner
Well-known member
USCTrojanCPA said:
Yeah. When you say this no one really questions you.
When I say it... my credibility and experience gets scrutinized.
irvinebullhousing
Well-known member
irvinehomeowner said:USCTrojanCPA said:
Yeah. When you say this no one really questions you.
When I say it... my credibility and experience gets scrutinized.
IHO, that?s what you?ve been saying all along.
Although, to be legit, you have to have CA BRE License # in your signatures. Ha ha.
zubs
Well-known member
https://finance.yahoo.com/news/housing-market-2020-may-apos-111119494.html
Article above says entry level homes will go up in 2020 while expensive homes remain flat.
Article above says entry level homes will go up in 2020 while expensive homes remain flat.
usctrojancpa
Well-known member
zubs said:
I can see that happening as the supply of lower end homes is a lot lower compares to higher end homes as a function of how many buyers there are in both markets.
So this is Dec 2019. Turns out, there is no housing slow down!
Well, it sort of did slow down in end of 2018, and got kind of into a normal mode instead of an insane mode which was 2017.
I predicted a much worse scenario so I admit I was wrong. Although buying in 2019 became a much better choice than 2018 IMHO.
We shall see how it goes in 2020.
Well, it sort of did slow down in end of 2018, and got kind of into a normal mode instead of an insane mode which was 2017.
I predicted a much worse scenario so I admit I was wrong. Although buying in 2019 became a much better choice than 2018 IMHO.
We shall see how it goes in 2020.
usctrojancpa
Well-known member
Mety said:
Two things provided support for real estate in 2019....rates dropping over 1% and the economy stayed strong. The market was fairly balances in 2019 for both buyers and sellers. Good properties that were priced right sold quickly and overpriced one with bad locations/layouts/upgrades did not.
irvinehomeowner
Well-known member
Mety said:
So have the price lags hit?
Or is someone going to tell me December of *next* year.
irvinebullhousing
Well-known member
irvinehomeowner said:
There is a few more days left in 2019, the number could still drop and crash hard, ha ha.
. Where is LL and his rhetorics.Happy New Year, may 2020 be the year of great joy watching the housing market bring you joys. Whichever side you play for.
irvinehomeowner
Well-known member
And December is gone.
Zillow and Redfin list a .4% to 1.2% drop from previous year.
What happen to the price lags?
Zillow and Redfin list a .4% to 1.2% drop from previous year.
What happen to the price lags?
irvinebullhousing
Well-known member
Housing is one of a few bright spots for 2020.
Cheers!!!
Cheers!!!
usctrojancpa
Well-known member
I'm going to put a prediction out there for housing in 2020. I think we will be flat to a slight pull back with buyers as we get closer to the election because of the fear of the unknown. Rates will stay within 3.25% to 3.75%. After the election if the market likes who got elected and we continue moving forward with the trade deal with China and rates stay in the 3% range, we can see some good housing gains in 2021.
usctrojancpa
Well-known member
OCLuvr said:
What's interesting is that inventory levels YOY are down for Nov & Dec while sales YOY are up for that same period for Irvine so the months of inventory has come down. Just as a data point, I have had 5 new buyer (referrals and my move-up clients) in the past 2 weeks who are starting their home search plus I'm seeing more multiple counter offer situations on properties that I'm making offers on. I'll post the data through Dec 2019 next week in my thread.
irvinehomeowner
Well-known member
But wasn?t December when we would see price drops catch up to inventory drops?
Let?s be truthful here, was 2018-2019 really a significant ?slowdown?? Sure, prices stopped rising but savings was mostly due to interest rates not dropping prices.
This was more like a letdown.
Let?s be truthful here, was 2018-2019 really a significant ?slowdown?? Sure, prices stopped rising but savings was mostly due to interest rates not dropping prices.
This was more like a letdown.