Price drop notifications

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the.irvine

Active member
Lately, i have been getting lots of notifications from Redfin/MLS on Price Drops for 4+ bed less than 1.5M. Whats going on here...
 
Plenty of "quick move in's" and "increased broker referral fee" emails coming in from builders as well.

We'll see shortly where 2018 is headed.

My .02c

SGIP
 
Maybe Irvine isn't immune to higher rates after all? 

Suppose you're buying a $1 million home with a $800k mortgage.  Your monthly payment just increased by $236 over the first 6 weeks of this year.  Trump's tax plan also decreases the amount you can write off, for both mortgage interest and property taxes.

Also, I know Irvine is special and all, but the national home sales report showed a 3.2% decline in January when economists were expecting a 0.9% increase due to "the strong economy".  Realtors of course are blaming a lack of supply, but that has been ongoing since 2012 and hasn't stopped home sales from showing increases many times over the past 6 years.
 
So I've been away from the Unicorn Hunt for a while and based on BTB's claim of Eastwood being the the best value I decided to look at their pricing.

The fact the 3br homes that are barely 2000sft are going for $1m is crazy.

So I visited Mr. Fin... and even in resale, there are maybe < 3 homes in Irvine proper with 3br/2+ba/1750sft built after 1980... and they don't have driveways!!!

Holy moley.
 
Liar Loan said:
Maybe Irvine isn't immune to higher rates after all? 

Suppose you're buying a $1 million home with a $800k mortgage.  Your monthly payment just increased by $236 over the first 6 weeks of this year.  Trump's tax plan also decreases the amount you can write off, for both mortgage interest and property taxes.

Also, I know Irvine is special and all, but the national home sales report showed a 3.2% decline in January when economists were expecting a 0.9% increase due to "the strong economy".  Realtors of course are blaming a lack of supply, but that has been ongoing since 2012 and hasn't stopped home sales from showing increases many times over the past 6 years.
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Irvine is not immune and neither is Manhattan or San Francisco or any of the coastal enclaves

but if Irvine gets a cold , then Tustin / Aliso Viejo / Laguna Hills get the flu

 
Irvinecommuter said:
It's more about people who are selling setting unrealistic selling prices.
Click to expand...

I'm also guessing this is the reason, just too many listings are asking too high.
 
 
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