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Old 05-31-2015, 04:51 PM
 
Location: Orange County, CA
93 posts, read 154,107 times
Reputation: 60

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Quote:
Originally Posted by incognitoe View Post

There are those who pay cash (those freaking Asians), and there's everyone else taking advantage of the low rates.
During the crash of '09 I came across so many Vietnamese who paid $400-500k cash for houses in the Garden Grove/Westminster area.
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Old 05-31-2015, 05:26 PM
 
Location: So Ca
26,731 posts, read 26,812,827 times
Reputation: 24795
Quote:
Originally Posted by incognitoe View Post
Exactly. There's even an no down-payment mortgage option to buy during the bubble. Which mean, after the BUST there is no need to worry about losing the downpayment you put in. Which gives more people all the reasons to foreclose in the bust.
What happened to "everyone"?

Quote:
Originally Posted by incognitoe View Post
Everyone is putting down around 15-20%
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Old 06-12-2015, 04:46 PM
 
Location: Laguna Niguel, Orange County CA
9,807 posts, read 11,142,657 times
Reputation: 7997
I am seeing houses sell where I live; one of these had a WTF pricetag. It sold.

However, I don't much care what happens since a drop means nothing if one intends to live in place for years.
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Old 06-12-2015, 04:50 PM
 
2,986 posts, read 4,577,410 times
Reputation: 1664
Quote:
Originally Posted by LuvSouthOC View Post
I am seeing houses sell where I live; one of these had a WTF pricetag. It sold.

However, I don't much care what happens since a drop means nothing if one intends to live in place for years.
Can you give an example of what the WTF price tag was? I'm just curious!
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Old 06-12-2015, 05:09 PM
 
Location: Laguna Niguel, Orange County CA
9,807 posts, read 11,142,657 times
Reputation: 7997
Quote:
Originally Posted by Cardiff Kook View Post
Can you give an example of what the WTF price tag was? I'm just curious!
Well without giving up my address and having some crazy come to my door, I would say the house was about 70K overpriced. We are talking about a sale that appears to be at about 450+/- square feet per dollar for a fixer house. I guess that is cheap for Brentwood, Newport or even La Jolla, and for some of you on CitiData, but I consider it high.
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Old 06-12-2015, 05:24 PM
 
2,986 posts, read 4,577,410 times
Reputation: 1664
Those don't seem too crazy compared to what I'm seeing here. We have properties that aren't completely detached (similar size) going for more than that. The fully detached properties are going for way more than any of those listings. We are closer to the ocean though in a prime school district. Take a look what's for sale and recently sold in Cardiff
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Old 06-12-2015, 05:56 PM
 
1,078 posts, read 1,076,568 times
Reputation: 1041
Quote:
Originally Posted by Cardiff Kook View Post
Those don't seem too crazy compared to what I'm seeing here. We have properties that aren't completely detached (similar size) going for more than that. The fully detached properties are going for way more than any of those listings. We are closer to the ocean though in a prime school district. Take a look what's for sale and recently sold in Cardiff




* Needs Major Repairs
* Plumbing issues
* Damaged Floors
* Additions / Modifications not Permitted
* Home is so bad, banks will not issue a mortgage at asking price.
* A whopping 1,189 sqft home for $450k.

Sad part: House will sell for $550k.
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Old 06-12-2015, 06:06 PM
 
Location: Laguna Niguel, Orange County CA
9,807 posts, read 11,142,657 times
Reputation: 7997
Quote:
Originally Posted by Cardiff Kook View Post
Those don't seem too crazy compared to what I'm seeing here. We have properties that aren't completely detached (similar size) going for more than that. The fully detached properties are going for way more than any of those listings. We are closer to the ocean though in a prime school district. Take a look what's for sale and recently sold in Cardiff
Look at this house in Cardiff. https://www.redfin.com/CA/Cardiff-By...7/home/4153028

Nice house, ok it's by the freeway, but it does not have have a very-close-to-the-beach price you'd get in OC! Don't get me wrong, I love Encinitas, but it looks cheap in terms of what you get! 1.2 for that seems not bad for what the area has to offer.
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