woodburyowner
Well-known member
I don't think there is any concern these days for move-up buyers. The DOM reflects this and typically a "move-up" buyer will have a property that has a larger buyer audience.
New communities in Portola Springs
- Thread starter abhinata
- Start date
NEW -> Contingent Buyer Assistance Program
Your situation is more of a corner case. It's highly uncommon for someone to be a "move-up" buyer within 2 years of purchasing a property. Congrats to you BTW.
Yeah, some of my clients are non-contingent move up buyers who can sell before or after they buy their next home. If they buy their new home first and sell after moving out, they'll pay down the loan on the move up home and recast the loan payment. For the move up buyers that are contingent, I'll step in and either buy their exit home from them or buy their move up home.
Not sure what your closing date is but the interest rates are supposed to come down soon so you might be able to lock in a rate in the 5's by the time you close escrow.
My closing date is June-Aug, so I doubt that it would drop below 6 by then. I'm planning to go with Citibank (good old Sherry Wang) and use relationship program for 0.5% discount.
Yeah they are talking about a $51 flat fee for non-low income folks but don't think that you won't get racked over the coals with a huge electric bill if you don't have solar for using power if you are charging an EV and/or have a pool pump running 8 hours a day.
I agree, Sherry Wang at Citi offers the best rates and relationship discounts.
CalBears96
Well-known member
Unfortunately for me, I can't even do that, since I can't sell my current home before I close on the new home. My closing date would be Jun to Aug, but I can't sell my current home before mid September due to previous primary residence transaction.
woodburyowner
Well-known member
Your situation is more of a corner case. It's highly uncommon for someone to be a "move-up" buyer within 2 years of purchasing a property. Congrats to you BTW.
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usctrojancpa
Well-known member
Yeah, some of my clients are non-contingent move up buyers who can sell before or after they buy their next home. If they buy their new home first and sell after moving out, they'll pay down the loan on the move up home and recast the loan payment. For the move up buyers that are contingent, I'll step in and either buy their exit home from them or buy their move up home.
CalBears96
Well-known member
Wow...someone actually made an offer for this home. $3.6M for a Highland home. Seller's agent must be really good. I must hire this agent to sell my Bluffs home.These two Highland home sellers are so beyond delusional.
12/23/2023: listed $3,560,000
1/4/2024: price changed to $3,580,000
1/29/2024: price changed to $3,595,000
Did they actually get offers to bump up their prices, or are they just doubling down on their prices?
Who in their right mind would buy a Highland home for $3.5M?
irvinehomeowner
Well-known member
Don't be doing USC like that.I must hire this agent to sell my Bluffs home.
ThirtySomethingWEquity
Active member
wow, so you are ponying up 3M without even selling your home? Congrats, and you must be doing well career wise :O
CalBears96
Well-known member
I ain't no cash buyer. The plan is to put down ~40%, so nowhere near $3M.
CalBears96
Well-known member
We only have flooring and windows treatment left to upgrade after COE, which add up to around $50k. Adding landscaping and additional solar panels, it will probably come out to $150k-$200k. As for whether or not it's wise to put down $1.5M cash for a house, there's no choice if you want to buy a SFR in Irvine. Just gotta bite the bullet. I'm just thankful for the RSUs and that my company stock is at ATH.No where near $3M but only $1.1 plus 300K more for upgrade after COE and landscape. Is it wise to put 1.4 - 1.5 mil cash down for a house
usctrojancpa
Well-known member
ThirtySomethingWEquity
Active member
wait we might work at the same company
I thought that Solar Panels were standard by all new home builders?
Not sure what your closing date is but the interest rates are supposed to come down soon so you might be able to lock in a rate in the 5's by the time you close escrow.
CalBears96
Well-known member
Yes, any community that started after 2020 must include solar panels, either by purchase or lease. We decided to purchase. However, it only comes with a 4.07kW system (11 panels). My current system at Bluffs is 9.6kW (24 panels) and I want something similar, which is why I said "additional solar panels" (4-5kW more, so probably another 10-12 panels). I will probably want a couple of batteries too, so I will probably go with Tesla panels and get 2 power walls.
My closing date is June-Aug, so I doubt that it would drop below 6 by then. I'm planning to go with Citibank (good old Sherry Wang) and use relationship program for 0.5% discount.
CalBears96
Well-known member
If we were, then you know which BU PLP is, right?wait we might work at the same company
sleepy5136
Well-known member
Isn’t there going to be a flat rate for electricity which means adding solar is not really going to help lower your bill as much?
usctrojancpa
Well-known member
Yeah they are talking about a $51 flat fee for non-low income folks but don't think that you won't get racked over the coals with a huge electric bill if you don't have solar for using power if you are charging an EV and/or have a pool pump running 8 hours a day.
I guess Shea doesn't include bought out solar panels in their homes in that case which Irvine Pacific did.
I agree, Sherry Wang at Citi offers the best rates and relationship discounts.
CalBears96
Well-known member
Actually, the standard is 11 panels. It's what IP did also, so Shea just did the same. I only chose 9.6kW before because I was charging two cars and the cost was cheaper per kW if I chose 9.6kW (~$2.6/W) instead of 4.8kW (~$2.9/W).
segalduster
New member
Crazy, very few companies to insure in PS.