What's going into escrow - Irvine and maybe some Tustin too

NEW -> Contingent Buyer Assistance Program
I'm new to this game. I'm assuming that data for properties that have recently closed escrow is data only available to those that subscribe to a particular service that provides such information. I know ipoplaya has been so kind as to share this info through his website and charts. Is this data only available to agents/brokers/appraisers or anyone willing to pay? And is this data usually limited to particular counties for each subscription or does it include all of SoCal, for example, including San Diego?
 
[quote author="JLegend" date=1223707458]I'm new to this game. I'm assuming that data for properties that have recently closed escrow is data only available to those that subscribe to a particular service that provides such information. I know ipoplaya has been so kind as to share this info through his website and charts. Is this data only available to agents/brokers/appraisers or anyone willing to pay? And is this data usually limited to particular counties for each subscription or does it include all of SoCal, for example, including San Diego?</blockquote>


I get my data from MLS and Zillow. The MLS data comes via IR2. Fortunately I don't have to subscribe, just let him sell my condo!
 
[quote author="ipoplaya" date=1223707945][quote author="JLegend" date=1223707458]I'm new to this game. I'm assuming that data for properties that have recently closed escrow is data only available to those that subscribe to a particular service that provides such information. I know ipoplaya has been so kind as to share this info through his website and charts. Is this data only available to agents/brokers/appraisers or anyone willing to pay? And is this data usually limited to particular counties for each subscription or does it include all of SoCal, for example, including San Diego?</blockquote>


I get my data from MLS and Zillow. The MLS data comes via IR2. Fortunately I don't have to subscribe, just let him sell my condo!</blockquote>


So is this info publicly available? For example, if I wanted to see all escrows that closed in a certain city within the past month (realizing that it won't be updated real-time or anything), and see what a property ultimately sold for, I can just use Zillow? What is the lag time between closed escrows and public availability? And MLS - this data available to everyone, or just paying subscribers. Thanks.
 
[quote author="ipoplaya" date=1223536035][quote author="IrvineRenter" date=1223533028][quote author="ipoplaya" date=1223520432]Wow, a condo in my old hood just closed at only $20K below the last sale I remember of the same model, which occurred back in summer last year. Only $20K less in 15 months?! Price per sf was higher than mine as well. Amazing... Maybe prices are going up?!</blockquote>


Prices were going up the other day when you made your day trade. That hasn't been the direction of the larger trend.</blockquote>


What is amazing is that back in Summer 2007 my friends sold their plan 4 (1750sf) condo in my tract. Got $710K. They bought in AV for $925K. Their same model in Irvine sells today for $680K while their same model in AV just went for $740K. So 3% drop on their old Irvine place while over the same period their new AV digs fall 18%? That's just plain crazy...</blockquote>


I've been keeping an eye on the PS Paloma Plan 1 model with the second master suite upstairs, it was $749K at the beginning of 2008 and in the Paloma thread there is a post dated 10/1/08 that says the Plan 1 price recently sold for $749. I am amazed prices have not gone down since almost last year in the ghost town of PS.
 
Stock market collapes, no problem honey, let's go buy a house! At least mortgage rates are low...



I just added another 12 properties that went under contract over the weekend:



<a href="http://www.ipoplaya.com/">IPO's Site</a>
 
Your site shows 4 more escrows opened today 10/14/08 and a total of 39 escrows opened so far in the first 14 days of October, so October is on pace to be about the same as the 84 escrows opened in September. With 288 homes listed in Irvine according to Redfin, that's only a 3 1/2 month supply of homes in Irvine. Pretty surprising given the financial and credit situation in the last couple of months.
 
Minor correction, for homes greater than 1500 sf and under $2 million (same as IPO's criteria), Redfin shows only 241 homes currently listed, which is a 2.8 month supply.
 
[quote author="fumbling" date=1224035769]Minor correction, for homes greater than 1500 sf and under $2 million (same as IPO's criteria), Redfin shows only 241 homes currently listed, which is a 2.8 month supply.</blockquote>


I recently expanded the breadth of my coverage fumbling, so I am tracking mostly everything in Irvine 1200+ sf with no price limitation along with 2000+ sf in Tustin Ranch. Didn't update that on my site though. Lazy IPO!



That being said, I don't get the same number as you on 1500+ sf and under $2M in Redfin. I get 417 units in Irvine. We have around 5 months inventory on the market in Irvine I believe...
 
I checked Homes only in Redfin, so if I checked Homes and Condos in Redfin then I get 415 units (2 units must have been snapped up in the meantime!)
 
[quote author="ipoplaya" date=1224148242]A very purty Shady Canyon custom went into escrow today. List of $5.6M. Almost $1M per bedroom!</blockquote>


Oh man, can't wait to see the closing price. I gotta imagine that with the kind of inventory Shady Canyon has for customs, you could negotiate that sucker pretty far down...
 
The advertisers on ipoplaya.com, if I had any besides Deuce, would be very disappointed:



<img src="http://www.ipoplaya.com/site.jpg" alt="" />
 
[quote author="skek" date=1224200946]



How funny! The realtor on that one has been advertising for the last couple of weeks that it "must get into escrow" by the end of the month. I guess someone took a stab at it and picked up a custom. Knowing that the seller was motivated to sell, I hope they got a good deal on it. Maybe it was acpme for real this time?



<a href="http://www.redfin.com/CA/Irvine/95-Canyon-Crk-92603/home/5929794">Link</a></blockquote>




Wow, that place is sick!

What timing?

The buyer just flew in from Abu Dhabi looking to purchase a small vacation home in Irvine.
 
[quote author="ipoplaya" date=1224166230]The advertisers on ipoplaya.com, if I had any besides Deuce, would be very disappointed:



<img src="http://www.ipoplaya.com/site.jpg" alt="" /></blockquote>


What are "number of requests"? Is it the number of hits you get from visitors for each time period?
 
[quote author="fumbling" date=1224202400]



What are "number of requests"? Is it the number of hits you get from visitors for each time period?</blockquote>


Yup, at least I think so. It's number of page requests...
 
That looks like a beautiful house with a beautiful yard, but maybe just a tad too big. Just out of curiosity, why does a 6 bedroom house need 9 bathrooms?
 
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