Should have waited - I could've bought in Coto! Especially as I'm looking at joining Coto CC. That said we're super happy to be south of the 5.
Poll: Irvine Housing Prediction June 2024 to 2025
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If you look in Oak Creek, the detached condos along Hawk Creek can be had for less. But be warned that prices here dropped a little more in the previous down cycle.
It's a nice neighborhood though, I lived there on and off for about a decade. Short walking distance to 2 shopping plazas, creek side trail, HOA pool with kid's play area next door, nice park with tennis courts south on Hawk Creek, elementary school across the pedestrian bridge with large lawn area, and master HOA facilities across the street.
No, the Oak Park condos are tri level, but the detached condos across Hawk Creek are 2 level.
Be warned the elementary school rating is not that high.
I bought my West Irvine home in Dec 2011 which was the double bottom (first bottom came mid/late 2009), lowest price for my particular floor plan.
I would upgrade now, when rates fall everyone that waited for rates to fall will be jumping in too
+1 I would agree with this and maybe throw some semi-low ball offers to see what sticks.
I saw a similar air pocket back 3-4 months before the 2016 election as we are seeing now, not sure if the slowdown is related to the upcoming election or a slowdown in the economy or both.
momopi
Well-known member
If you look in Oak Creek, the detached condos along Hawk Creek can be had for less. But be warned that prices here dropped a little more in the previous down cycle.
It's a nice neighborhood though, I lived there on and off for about a decade. Short walking distance to 2 shopping plazas, creek side trail, HOA pool with kid's play area next door, nice park with tennis courts south on Hawk Creek, elementary school across the pedestrian bridge with large lawn area, and master HOA facilities across the street.
GrowthStateofMind
Member
Are the detached condos Tri levels there? I remember seeing some of the attached condos two years ago when I was considering moving there. Didn’t like the very vertical floorplans with second-floor living rooms. But I liked the central location, not being that far from either the 5 or 405. especially close to Irvine spectrum area.
momopi
Well-known member
No, the Oak Park condos are tri level, but the detached condos across Hawk Creek are 2 level.
Be warned the elementary school rating is not that high.
usctrojancpa
Well-known member
I bought my West Irvine home in Dec 2011 which was the double bottom (first bottom came mid/late 2009), lowest price for my particular floor plan.
zubs
Well-known member
I remember that house. You had pics of your father putting in flooring.
I bought my house in 2012 after you. Your post influenced my purchase because a lot of people @the time were still thinking prices would stay flat or drop more (looks at IHO). We had been so bearish since 2007 during IHB....it had to turn sometime. I took your purchase as the turning point.
From 2009 to 2013 we had been writing all this negative crap about how housing was too expensive...I knew it wouldn't stay low forever, and would need to pull the trigger, but timing is everything isn't it?
I bought my house in 2012 after you. Your post influenced my purchase because a lot of people @the time were still thinking prices would stay flat or drop more (looks at IHO). We had been so bearish since 2007 during IHB....it had to turn sometime. I took your purchase as the turning point.
From 2009 to 2013 we had been writing all this negative crap about how housing was too expensive...I knew it wouldn't stay low forever, and would need to pull the trigger, but timing is everything isn't it?
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irvinehomeowner
Well-known member
Yeah... prices weren't dropping very much after 2009 or 2011... even though people kept saying they would (I was hoping). We put some offers in circa 2010-2011 but they didn't pan out.
Luckily we got out/in on the upswing at a point there the house we sold was peaking and the house we bought was still cheap enough (although more than we wanted to spend).
Little did I know that the house we sold still had room for stupid Irvine appreciation as it sold last year for 80% above what we sold it for.
Can't complain... the house we bought has probably more than doubled.
If you bought in the late 90s and kept moving up, you should be in pretty good shape.
Heck...even if you bought in 2018, when many were against it and were saying my advice was bad... you would be good today.
Luckily we got out/in on the upswing at a point there the house we sold was peaking and the house we bought was still cheap enough (although more than we wanted to spend).
Little did I know that the house we sold still had room for stupid Irvine appreciation as it sold last year for 80% above what we sold it for.
Can't complain... the house we bought has probably more than doubled.
If you bought in the late 90s and kept moving up, you should be in pretty good shape.
Heck...even if you bought in 2018, when many were against it and were saying my advice was bad... you would be good today.
vsfan
Member
I would wait …
What do you consider decent time? Lower prices? Rates? Both?
Ideally both, but I understand that's not always realistic. I'm comfortable in my current situation so not in a rush to move so I'm flexible. I just have FOMO from missing out on Pre-covid home prices and not feeling like it'll get back to that anytime soon
zubs
Well-known member
When I bought my house in 2012, the appraisal came back lower than my offer.
I told the seller I would split the difference with him between the appraisal and my buying price.
I was hoping he would cancel the deal because I thought housing had more to drop....or stay flat.
He came back with something higher, and I said no.
A few days later he accepted the halfsies.
I was lucky as a few months later housing began booming.
I told the seller I would split the difference with him between the appraisal and my buying price.
I was hoping he would cancel the deal because I thought housing had more to drop....or stay flat.
He came back with something higher, and I said no.
A few days later he accepted the halfsies.
I was lucky as a few months later housing began booming.
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sleepy5136
Well-known member
I would have told him no more halfsies as that was my offer at that time. Now it's all on you to compensate or I don't buy.
NewtoIrvine1
New member
I would upgrade now, when rates fall everyone that waited for rates to fall will be jumping in too
irvinehomeowner
Well-known member
Buy if you can afford it and stay long term.
usctrojancpa
Well-known member
+1 I would agree with this and maybe throw some semi-low ball offers to see what sticks.
usctrojancpa
Well-known member
I saw a similar air pocket back 3-4 months before the 2016 election as we are seeing now, not sure if the slowdown is related to the upcoming election or a slowdown in the economy or both.