Where the market is - Buyer Offers

NEW -> Contingent Buyer Assistance Program
Liar Loan said:
sleepy5136 said:
Maybe LL should have bought more cars and sell now right? ;)

ROI matters so much to him. Dibs that he didn?t see that coming. Otherwise he would have blasted it on TI by now.
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Yeah, great idea... How many cars fit in your motorcourt?
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LL, you are analytical just like me so answer me this.  When will inventory levels get to over 3 months of supply?  At that point, the market becomes neutral and pricing will flatten out.  Right now in Irvine we have less than a 2 week supply of homes so inventory has to increase 6x-7x from where we are today to get to a neutral market.  And what will cause this huge increase in inventory?  Buyers pulling back in droves or way more listing put up for sale?  It's easy to say that prices are going down but tell me how and when the drivers of price declines will come. I know I sound like a broken record but inventory levels are tell to where prices are going.
 
Liar Loan said:
sleepy5136 said:
Maybe LL should have bought more cars and sell now right? ;)

ROI matters so much to him. Dibs that he didn?t see that coming. Otherwise he would have blasted it on TI by now.
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Yeah, great idea... How many cars fit in your motorcourt?
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I put my money in appreciating assets. Not ones that depreciate. ;)
 
USCTrojanCPA said:
Mety said:
Renting doesn?t seem cheaper either. You need about $5000 for SFR in Irvine. You might pay less monthly for mortgage for a similar house.
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Rents not only in Irvine but in the surrounding areas are up 20%+ year-over-year.
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Absolutely spot on for the rental price increase. Rent growth at 20% is in line with the commodity substantial run up. Look at lumbers, labors and coppers. All of these required for keeping a home in good shape when replacement comes. This cost will get push to owners / renters. Builders, ramp up prices because of commodity run-up. If builder can buy cheaper commodities, the lower cost would then be pass on to buyers. Its not a greedy phenomenon here. Its economic of getting push and pass to the next person in line.
 
USCTrojanCPA said:
I submitted an offer significantly over list for this under listed University Park home last night for a buyer...
https://www.redfin.com/CA/Irvine/4186-Sandburg-Way-92612/home/4699846

The listing agent would not accept an escalation clause so we came up with a strong offer that the buyer felt good able.
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Beautiful home, love the location, and I'd be scared to know what it would go for without the common wall with a neihgbor.
 
irvinehomeowner said:
This may have been covered but on escalation clauses, does the seller's agent have to show the offer that beat your last offer?
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Your offer should be worded as such that the listing agent needs to produce a real offer from a fully pre-qualified buyer. Sure it's easy to "fake" by getting a friend agent to write a fake offer but karma will come back to bite people like that...
 
irvinehomeowner said:
This may have been covered but on escalation clauses, does the seller's agent have to show the offer that beat your last offer?
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Yes, the listing agent sends me a copy of the counter offer or the offer amount page of the purchase agreement...sometimes with the buyers named redacted sometimes not then my buyer increases their offer accordingly.
 
xlunaxoreox said:
Do you know why they under listed it? Wanted to drum up more offers?
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To go fast and get a lot of offers.  It doesn't matter who a home is listed, I provide my clients an acceptable range price on what to bid on homes (low end of the range is the minimum bid to have a chance and the high end of the range is the absolute max) based upon normalizing closed comps.
 
The California Court Company said:
bid X, beat the highest bona fide offer by Y increment up to max Z (optional).
In this market you might as well just bid Z.
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Plus I put a provision that the highest offer/counter needs to be provided.  Only about 1/2 of listing agents will accept an escalation clause (the ones that don't normally don't understand how it works).
 
Cares said:
irvinehomeowner said:
This may have been covered but on escalation clauses, does the seller's agent have to show the offer that beat your last offer?
Click to expand...

Your offer should be worded as such that the listing agent needs to produce a real offer from a fully pre-qualified buyer. Sure it's easy to "fake" by getting a friend agent to write a fake offer but karma will come back to bite people like that...
Click to expand...

I know what to look for on the offer or counter amount (see who wrote the document by looking at the bottom of the CAR form) and the pricing to get an idea if it's a legit buyer or not.  I've only felt a few times that I got a fake offer/counter and we passed on those because the price was more than my client wanted to pay anyhow.
 
USCTrojanCPA said:
Cares said:
irvinehomeowner said:
This may have been covered but on escalation clauses, does the seller's agent have to show the offer that beat your last offer?
Click to expand...

Your offer should be worded as such that the listing agent needs to produce a real offer from a fully pre-qualified buyer. Sure it's easy to "fake" by getting a friend agent to write a fake offer but karma will come back to bite people like that...
Click to expand...

I know what to look for on the offer or counter amount (see who wrote the document by looking at the bottom of the CAR form) and the pricing to get an idea if it's a legit buyer or not.  I've only felt a few times that I got a fake offer/counter and we passed on those because the price was more than my client wanted to pay anyhow.
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But what I mean is if you messaged me to draft up a fake offer from my CAR account it would show my name and not your name ... making it appear to be a legitimate offer.
 
Cares said:
USCTrojanCPA said:
Cares said:
irvinehomeowner said:
This may have been covered but on escalation clauses, does the seller's agent have to show the offer that beat your last offer?
Click to expand...

Your offer should be worded as such that the listing agent needs to produce a real offer from a fully pre-qualified buyer. Sure it's easy to "fake" by getting a friend agent to write a fake offer but karma will come back to bite people like that...
Click to expand...

I know what to look for on the offer or counter amount (see who wrote the document by looking at the bottom of the CAR form) and the pricing to get an idea if it's a legit buyer or not.  I've only felt a few times that I got a fake offer/counter and we passed on those because the price was more than my client wanted to pay anyhow.
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But what I mean is if you messaged me to draft up a fake offer from my CAR account it would show my name and not your name ... making it appear to be a legitimate offer.
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Oh I know but the ones that I thought were fake offers were written sloppily and/or completed by agents who either did no transactions or few transactions or were from the same brokerage.  Most all of the offers/counters that I got a copy of seemed legit to me and were within the price range that I expected and materially below my client's max price for the homes.
 
Got my buyer Sandburg.  The listing agent called the top 3 buyers to get more information about the buyers as the 3 offers were close.  She said she remembered my buyers and I when we went to go see the home Friday of last week and appreciated the clean offer that I made.
 
hurijo said:
Is this the final price?https://www.redfin.com/CA/Irvine/4186-Sandburg-Way-92612/home/4699846

USCTrojanCPA said:
Got my buyer Sandburg.  The listing agent called the top 3 buyers to get more information about the buyers as the 3 offers were close.  She said she remembered my buyers and I when we went to go see the home Friday of last week and appreciated the clean offer that I made.
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Can't say at this point as my buyers haven't released their contingencies yet.
 
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