https://www.redfin.com/CA/Lake-Forest/22552-Marylhurst-Ct-92630/home/4811738 What’s going on in OC? Redfin shows most homes sell for 98% of asking price but I’m seeing a lot of price reductions of late in the sub 750K range
are you trying to sell your house?
No. I am thinking of buying. Wondering whether I should wait.
Don't wait too long. The OC is getting hip to Tech. Pretty soon either a flock of going-to-fail startups will congregate near the beaches, or a big name will lease some large campus space. Pay attention to the prices in the areas you want, and don't overpay because you were waiting for the bottom.
This is a temporary thing - prices will be up by 10% in summer of next year. Just buy this now!
This is Orange County, not Bay Area. Prices only went up 5.6% YOY.
People are priced out of Bay Area and Orange County is getting traction these days
Same thing all over LA and san Diego. It's finally happening
No it’s not
Prices have dropped slightly you can't deny that.
Housing prices are finally coming back down to earth.
You call that ugly dump for $750K down-to-earth?
Seasonal?
How is it seasonal? Isn’t summer the time to buy? House went on the market in May and nobody was buying.
If that house was listed at 800k, it was over priced for that area. 750k is a fair price, but has now been on the market 100 days which won’t do it any favors.
Market cycle reversal catalyst by Fed reserve and trade wars. Anyone buying a home now is taking a large risk imho, and will be under water severely in 24 months.
Blizzard, you seem to have a lot of good insight. Are you a long-term orange county resident? I am relatively new there.
Long term resident. I could be wrong ofc but macro economic movements + being way overdue for a recession tells makes me think we are at the top. Be careful and deliberate with your money, especially purchases this big. Learn and research all you can. Places in 2009 that were selling for 750k in 2006 were closer to 500k.
Trump administration
Another one, this time in Costa Mesa: https://www.redfin.com/CA/Costa-Mesa/1642-Baker-St-92626/home/3694867. This seems like a nice house too! Remodeled completely, so not sure why they’ve had to drop the price so much.