We are seeing more discretionary sellers with significant equity trying to exit the market. Is this the beginning of capitulation? Asking Price: $329,900 Address: 1306 Terra Bella Irvine, CA 92602 There’re secrets in this life That I can’t hide ... Read the full post ... Read more

Bailouts are rescuing the irresponsible at the expense of the prudent, or so we all believe. But didn’t the prudent benefit from the Great Housing Bubble as well? Asking Price: $654,000 Address: 34 Blazing Star, Irvine, CA 92604 Glenn Beck on the H ... Read the full post ... Read more

Any increase in pricing brings delusional sellers out of hiding. They put their properties on the market at WTF price levels and hope to hit the lottery. Asking P rice: $1,149,000 Address: 12 Inglenook, Irvine, CA 92602 Every time I try to walk awa ... Read the full post ... Read more

Yesterday, when I described the ratings of properties and the cashflow levels to which they should fall, I mentioned that the bottom of the Irvine market is defined by condos that only make sense as a cashflow rental. Today’s featured property is one of those. Asking Price: $149,900 ... R ... Read more

Kool aid intoxication is very strong because homeowners were so richly rewarded during the bubble. Will the crash cause mass detoxification? Today’s featured property is a WTF award winner in Quail Hill—$444/SF is so 2006. Asking Price: $1,375,000 ... Read the full post ... Read more

Distressed sellers have no room to negotiate on price, and often these transactions have to be cleared through other interested parties. Sellers with equity have no such limitations. Our property today is owned by motivated sellers who are not distressed. They want to get out, but they do not ... Read more