usctrojancpa
Well-known member
Cares said:
Wonder if they got something around $1.05m
Where the market is - Buyer Offers
- Thread starter usctrojancpa
- Start date
NEW -> Contingent Buyer Assistance Program
Wonder if they got something around $1.05m
They grossly underpriced the home and got 18 offers. The next highest offer after mine was around $2.15m so I know I put in a solid bid given where the other single level home is going to closing for that's in escrow now. Oh well, someone wanted it more than I did. The longer the time goes by the higher my budget goes so next year I'll be looking in Turtle Ridge. With remodel and full landscaping work it was going to be around $700-$800k to bring it to where I wanted the home so I didn't want to be in the home for over $3m.
wow...nice to see EW detached condo go at 1.2 M.
Wow, very brave to be a buyer in today's market. What makes you decide to buy in today's market, which we all know is a seller's market. Don't you want to wait until the market cools down? I am just curious to know.
It's more of an issue for me finding the right unicorn home (single-story with a 3-car garage that has a larger lot in Irvine) and those homes ust don't come to market very often. The next home that I do purchase I plan on living there longer term home so I'm not overly concerned if we get a correction in pricing because I'm buying within my means. I honestly don't believe that you'll see much of a correction, if any, as this feels more like 2013 than 2006.
That is some bullshit.
I'm getting priced out of crab faster than I am Orange County real estate!
I remember you are going to have landscaping done on your current house. How is that going? If you buy a house now, won't that landscaping be for next owner's benefit?
Man that's tough w/bid coming in 2 hours before offer deadline. reminds me of my many failed ebay bidding attempts but those were for small camera parts purchases, not $2M plus homes!
To be fair,
CA min wage:
2010 ~ $8.00/hour
2021 ~ $14.00/hour
75% increase in wages!
King Crab legs only went up 70%...so we are copacetic.
My 15 Alba buyer didn't get it despite going up to $1,241,000 using an escalation clause.
Wonder if they got something around $1.05m
usctrojancpa
Well-known member
Put offers on these two homes this week...
This was for my myself, I put in an offer of $2,205,000 and I was the highest offer until they got a last minute offer at $2,230,000 came in 2 hours before the offer deadline and I'm the first back-up buyer. Home was being sold "as-is" with no repairs and no termite repairs. I was going back and forth on whether to offer $2,250,000 or not but the home needs a full gut remodel so I opted for $2,205,000 instead. The search continues for me.
https://www.redfin.com/CA/Irvine/5722-Kingsford-Ter-92603/home/4741419
For one of my clients, I put a full priced offer on this Eastwood detached condo and we signed the seller counter today so we'll be opening escrow on Monday.
https://www.redfin.com/CA/Irvine/52-Gust-92602/home/143912144
This was for my myself, I put in an offer of $2,205,000 and I was the highest offer until they got a last minute offer at $2,230,000 came in 2 hours before the offer deadline and I'm the first back-up buyer. Home was being sold "as-is" with no repairs and no termite repairs. I was going back and forth on whether to offer $2,250,000 or not but the home needs a full gut remodel so I opted for $2,205,000 instead. The search continues for me.
https://www.redfin.com/CA/Irvine/5722-Kingsford-Ter-92603/home/4741419
For one of my clients, I put a full priced offer on this Eastwood detached condo and we signed the seller counter today so we'll be opening escrow on Monday.
https://www.redfin.com/CA/Irvine/52-Gust-92602/home/143912144
usctrojancpa
Well-known member
Cares said:
They grossly underpriced the home and got 18 offers. The next highest offer after mine was around $2.15m so I know I put in a solid bid given where the other single level home is going to closing for that's in escrow now. Oh well, someone wanted it more than I did. The longer the time goes by the higher my budget goes so next year I'll be looking in Turtle Ridge. With remodel and full landscaping work it was going to be around $700-$800k to bring it to where I wanted the home so I didn't want to be in the home for over $3m.
Irvinehomeseeker
Active member
USCTrojanCPA said:
wow...nice to see EW detached condo go at 1.2 M.
irvinehomeowner
Well-known member
Dang... $2.23m for a fixer upper. At least it was 3CWG. 
Skip Turtle Ridge and do Shady.
Good luck USC... nice to know you are coming back to Irvine.
Skip Turtle Ridge and do Shady.
Good luck USC... nice to know you are coming back to Irvine.
The Motor Court Company
Well-known member
Well certainly I still remember Martin's humble beginning buying a small tract house in West Irvine and now he has been looking at the Turtles. 10 more years he will be looking at Shady Canyon or Newport Coast ;D
talkirvine
Member
USCTrojanCPA said:
Wow, very brave to be a buyer in today's market. What makes you decide to buy in today's market, which we all know is a seller's market. Don't you want to wait until the market cools down? I am just curious to know.
irvinehomeowner
Well-known member
If you can afford it and can stay long term, you can probably buy whenever you want.
irvinebullhousing
Well-known member
There are millions waiting for it to cool down.
And there are hundreds buys before it cool down and the cool down never happen. The people that buy in any market condition are the savy investors. When it cool down, the BANKS are not interested in lending. Money are not easy borrow and unless you keep on stacking those greenback sky high and buy with all cash, the crash will prevent transactions from happenning even if you have balls to buy.
And there are hundreds buys before it cool down and the cool down never happen. The people that buy in any market condition are the savy investors. When it cool down, the BANKS are not interested in lending. Money are not easy borrow and unless you keep on stacking those greenback sky high and buy with all cash, the crash will prevent transactions from happenning even if you have balls to buy.
usctrojancpa
Well-known member
talkirvine said:
It's more of an issue for me finding the right unicorn home (single-story with a 3-car garage that has a larger lot in Irvine) and those homes ust don't come to market very often. The next home that I do purchase I plan on living there longer term home so I'm not overly concerned if we get a correction in pricing because I'm buying within my means. I honestly don't believe that you'll see much of a correction, if any, as this feels more like 2013 than 2006.
irvinebullhousing
Well-known member
Yep, it will need more greens to gets the goods.
ThirtySomethingWEquity
Active member
zubs said:
That is some bullshit.
I'm getting priced out of crab faster than I am Orange County real estate!
talkirvine
Member
USCTrojanCPA said:
I remember you are going to have landscaping done on your current house. How is that going? If you buy a house now, won't that landscaping be for next owner's benefit?
Sidehussle
Member
USCTrojanCPA said:
Man that's tough w/bid coming in 2 hours before offer deadline. reminds me of my many failed ebay bidding attempts but those were for small camera parts purchases, not $2M plus homes!
zubs
Well-known member
ThirtySomethingWEquity said:zubs said:
That is some bullshit.
I'm getting priced out of crab faster than I am Orange County real estate!
To be fair,
CA min wage:
2010 ~ $8.00/hour
2021 ~ $14.00/hour
75% increase in wages!
King Crab legs only went up 70%...so we are copacetic.
usctrojancpa
Well-known member
Made offers and submitted best & final counters on these 2 homes for 2 buyers...
https://www.redfin.com/CA/Irvine/15-Alba-W-92620/home/4785616
https://www.redfin.com/CA/Irvine/102-Catalonia-92618/home/58551980
https://www.redfin.com/CA/Irvine/15-Alba-W-92620/home/4785616
https://www.redfin.com/CA/Irvine/102-Catalonia-92618/home/58551980
usctrojancpa
Well-known member
USCTrojanCPA said:
My 15 Alba buyer didn't get it despite going up to $1,241,000 using an escalation clause.