Is the California (Irvine) Market Ahead of the US Market?

NEW -> Contingent Buyer Assistance Program
[quote author="no_vaseline" date=1225153983][quote author="Informed_Decisions" date=1224917709][quote author="IrvineRenter" date=1224914560]BTW, everyone, please be nice to ID. It is nice to have a bull around.</blockquote>


For the record, I am neither a bull nor a bear. I am a realist.



To illustrate my point: I bought my first home in Irvine in Spring 2003, mentally prepared that it would drop 20% in price. I bought it for my growing family and the best schools, I didn't look to make a quick profit. I still hold it today as rental ($4500 monthly gross rent, compared to $478K original price). I jumped the gun last Nov to buy a forelclosure as primary residence (monthly mortgage payment approx $2300, with close to $499 in principal). I knew it might not be the lowest price yet, but I were able to get finaced then at 5.25% fixed 30 years.)</blockquote>


<img src="http://www.dvorak.org/blog/wp-content/uploads/2008/08/bullshit_detector.gif" alt="" />



Not buying this.</blockquote>


I keep trying to post a picture of my BS meter, but all that keeps happening is this...



http://depth-first.com/demo/20061127/broken_image.png



I think ID broke it. >:(
 
[quote author="xsocal land merchant" date=1225269952]

He is out collecting his $4500.00 net rent for this month.



Must have been a good deal on some ocean front property.

</blockquote>
But I don't think there was any ocean front property for sale in Irvine in 2003. Or else I would have bought it.
 
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