Irvine's Latest Listing Trends

[No_Such_Reality_IHB]

Just an anecdotal observation that I wonder if anybody else is catching or seeing.



On the main blog page, there is a column for latest listings in Irvine. For the last few days, I'll check once a day and have noticed a dichotomy in the listings. There appears to be only two seller camps on listings.



1. Buyers from the 90s with hundreds of thousands of dollar equity between their purchase price and current list price.



2. Upside down sellers either with a wishing price for break-even, short sale, potential loss or REO.



Nothing in between. No 2000, 2001 buyers, just those already upside down or those with thousands and thousands of dollars they can slash the price and still make a massive profit.



Is anybody else seeing the dichotomy?

 

[optimusprime_IHB]

Interesting point.



Number 1, is not the motivated seller so they can basically take their sweet time if they don't really need the money. Which explains why Westpark I & II have held up so well.



Numer 2, all the people in the 2002 and after developments are getting blown up, especially Tustin Fields.



The buyers from 1999, 2000, 20001 etc have affordable mortgages and likely did not sign up for an ARM. The only ones you will see in trouble are the individuals who HELOCed themselves to death.

 

[freedomCM_IHB]

i've been tracking parts of costa mesa, and see the same thing:



pre 200 = 39

2001 = 7

2002 = 2

2003 = 9

2004 = 10

2005 = 36

2006 = 36

2007 = 7



the 2001 and 2002 listings are at about 1.5x purchase price.



2003 listings are break even or so



just about every listing after that is SS or REO. listed at about a 25% discount (still few sales)