woodburyowner
Well-known member
I've driven by this house and it probably has a lot of deferred maintenance. It looked abandoned for awhile. I remember saying to my wife that this is an example of why you need to live in a community with a HOA.
Poll: Irvine Housing Prediction June 2022
- Thread starter irvinehomeowner
- Start date
NEW -> Contingent Buyer Assistance Program
I've driven by this house and it probably has a lot of deferred maintenance. It looked abandoned for awhile. I remember saying to my wife that this is an example of why you need to live in a community with a HOA.
That would be my guess. It was in really bad shape before. Looks like the buyer did the bare minimum to make it not look like it's been abandoned for years and then flip it.
www.yahoo.com
And prices don't have to return to peak, lower rates can help too.
The RE party is OVER. Glad I'm on a 15 so the debt will be retired soon.
I've driven by this house and it probably has a lot of deferred maintenance. It looked abandoned for awhile. I remember saying to my wife that this is an example of why you need to live in a community with a HOA.
irvinehomeowner
Well-known member
I like the Columbus floorplan... bedroom/bath on the 1st floor... kitchen open to a pseudo great room and 2 other separate downstairs spaces.
For the master (now PC known as primary), I would probably enclose the balcony and make it a retreat, 2nd closet or something else. That location is right on the corner of a thoroughfare street so nothing really to look at.
Lot size is decent.. good yard space.
For the master (now PC known as primary), I would probably enclose the balcony and make it a retreat, 2nd closet or something else. That location is right on the corner of a thoroughfare street so nothing really to look at.
Lot size is decent.. good yard space.
Interesting - and thanks for pointing out. Implies this is coming down much farther.
nosuchreality
Well-known member
The sunken living room, with step up to small dining room next to the double landing stairs with the popcorn ceiling, Brady Bunch color palette and vertigo picture angle.
irvinehomeowner
Well-known member
nosuchreality
Well-known member
Even as a fixer, something odd with an SFR going for $508/sf in March. Based on sales history, prior sale looks flakey back in 1979, perhaps an estate sale to a flopper who now just wants to cut bait?
woodburyowner
Well-known member
That would be my guess. It was in really bad shape before. Looks like the buyer did the bare minimum to make it not look like it's been abandoned for years and then flip it.
nosuchreality
Well-known member
No pictures of the kitchen, big warning flag.
irvinehomeowner
Well-known member
morekaos
Well-known member
LL is probably right on this…
You Should Probably Wait to Buy a Home
Should you even try to buy a house right now? Asking real-estate agents, economists, and potential homebuyers that question is likely to elicit something between a whimper and a scream these days. “It never feels like a great time to buy a house,” Danielle Hale, the chief economist at Realtor.com, told me. “You’re committing yourself to paying this enormous mortgage over a really long period of time.” But, she said, something that is always “a little bit scary” is “particularly scary” right now. Many Americans seem to share that sentiment: Half as many home sales occurred this past July as in the same month two years ago.
https://www.msn.com/en-us/money/realestate/you-should-probably-wait-to-buy-a-home/ar-AA14JtiG
You Should Probably Wait to Buy a Home
Should you even try to buy a house right now? Asking real-estate agents, economists, and potential homebuyers that question is likely to elicit something between a whimper and a scream these days. “It never feels like a great time to buy a house,” Danielle Hale, the chief economist at Realtor.com, told me. “You’re committing yourself to paying this enormous mortgage over a really long period of time.” But, she said, something that is always “a little bit scary” is “particularly scary” right now. Many Americans seem to share that sentiment: Half as many home sales occurred this past July as in the same month two years ago.
https://www.msn.com/en-us/money/realestate/you-should-probably-wait-to-buy-a-home/ar-AA14JtiG
Fun (surprised?) to see Annie Lowrey quoted here. Wonder what her Uni high graduate husband thinks of Irvine real estate
irvinehomeowner
Well-known member
I will say this again... even with an agreed upon downturn underway... if you can afford it and found a home you want... don't worry about waiting.
IHOfucious say:
If you're gonna own, don't stress over the unknown.
IHOfucious say:
If you're gonna own, don't stress over the unknown.
I agree - the reality for almost every first time buyer is they buy as soon as they can afford to, which is a function of earnings/savings/ratesI will say this again... even with an agreed upon downturn underway... if you can afford it and found a home you want... don't worry about waiting.
IHOfucious say:
If you're gonna own, don't stress over the unknown.
Liar Loan
Well-known member
Well, the counterpoint is:
Recent U.S. homebuyers are being hit with a massive wave of regret
Recent U.S. homebuyers are being hit with a massive wave of regret
Nearly half of Americans who moved during the pandemic regret their new home purchase. That's likely because many of those moves were unplanned.
I've been thinking about that headline...we bought when rates has gone up a little and the market cooled down - I think buying well below what we qualified for helped buffer the decision but at the beginning of COVID when the market tanked I was a little nervous, until we got the 1.99% 15 yr no cost refi in May 2020, after which the market took off. Conversely recent buyers likely went all the way to their approval limit, always a dangerous chocie unless you're someone like USC who wants and can afford a unicorn property and could care less if it declines 40% from the top of the market when it was purchased.Well, the counterpoint is:
Recent U.S. homebuyers are being hit with a massive wave of regret
Recent U.S. homebuyers are being hit with a massive wave of regret
Nearly half of Americans who moved during the pandemic regret their new home purchase. That's likely because many of those moves were unplanned.
irvinehomeowner
Well-known member
As I've said... if they can stay 5-10 years... there will not be any regret.Well, the counterpoint is:
Recent U.S. homebuyers are being hit with a massive wave of regret
Recent U.S. homebuyers are being hit with a massive wave of regret
Nearly half of Americans who moved during the pandemic regret their new home purchase. That's likely because many of those moves were unplanned.
I disagree - values won't return to COVID peaks for a decade+. These recent buyers, if they stretched, will have a psychological burden for a long time.
Mawesome Sauce
Member
Wow, somebody more bearish than me. You DO exist!
irvinehomeowner
Well-known member
We will see. Most down cycles do not last more than 5-10 years.
And prices don't have to return to peak, lower rates can help too.
You don't seem to comprehend that Powell will never deploy the Fed Put again....not for at least a generation - it is directly responsible for the biggest asset bubbles in US history and a wild over-investment in real estate, a very non productive use of investment capital.
The RE party is OVER. Glad I'm on a 15 so the debt will be retired soon.