All Forum Posts by: Alex C.

@Matt R.

None that I know of. Foreclosures are down significantly year over year.  

@Matt R. 

Year over year value would be up. Someone who sold their house in 2016/2017 would have sold for higher than someone in 2015 however, closed sales data across many SoCal markets I've reviewed shows most current closed sales 80% are closing under or at list price, what do you interpret from that ? 

@Account ClosedI do work this list and have had success. Thanks for the idea of adding the filter of out-of-county, that's great! 

@Alex W. 

Fair enough, I just pulled a random search of recently closing listings in those two zip codes. Of 346 listings, gone through the first 40 and 32 have sold at or under list price, most below list price. Not by a lot, but regardless my observation is still holding up. 80% or more properties actually selling in the SoCal market are not selling for more than list price. We're in a market correction and you'll be hearing and seeing more of that coming this year and next. Thanks.  

@Account Closed

If the property is priced well than you should expect multiple offers and for it to sell in any market. I'm not saying property in the SoCal market isn't selling or that it isn't selling fast. I see a lot that do sell fast, but still under list price. You present 3 examples of properties that went over list price, give me a zip code to check and I'll bet $100 dollars 80% of closed listings in that neighborhood also are closing at or under list price. What do you think? Are you feeling lucky? Lol 

I do a similar search on PropertyRadar.com of properties purchased by LLC's to see where my competition is buying in order to active in those same areas. You can also do that search thru tax records (realist) on mls if you have access to it.

@Account Closed

I'm sure there is, I've seen it but not every property in SoCal is affected by outside international money. I'm involved in several LA pockets/markets and hardly ever see Chinese buyer offers or deals. Sure there are plenty of them buying in OC/LA and surrounding areas but not enough to say they make a huge difference in where our market is going. 

@Diane G.

Would love to chat with you about Bay Area opportunities, I know its a competitive market but I can get spanish speaking deals, let's connect. Thanks. 

@David Faulkner

Just pulled a mls list or recently sold properties within 3 miles from center of Irvine of 3+2 sold listings and so far I've gone thru first 42 listings and 38 of them have sold under list price of 627 listings. I could be wrong but you're market is no different. Correction is coming. Check the data if you'd like because this is not my opinion just my observation. 

I talk to potential sellers every single day. I look at real estate listings every single day. I have now seen most closed listings (80-90%) closing below list price for months now. I believe we're in the middle of a correction in the LA market which most sellers don't even feel it yet. However, I predict this will change soon. The rate hike will help reduce the buyer pool so sellers won't get multiple offers unless priced right. Many overpriced listings sitting everywhere. Millennials don't want the same type of properties/things other generations wanted. I can't see those suburb tract homes being bought by younger buyers. They want to live closer to things, Uber/Lyft has changed how we get around and commuting for hours isn't as attractive anymore. Many more people now work from home and don't need all that extra space those homes built the 80's, 90's and 00's. Families are definitely not as large so those communities will see greater decreases in prices compared to more dense neighborhoods which will continue to be in demand for this new generation of home buyers. These are just a couple of my observations on the LA market but I for one, am looking forward to the opportunities that will arise once we're back in a buyers market out here. Thanks.