Comments on: Tustin Kicking It Up (or Maybe Down) a Notch http://blog.redfin.com/orangecounty/2008/03/tustin_kicking_it_down_a_notch.html Redfin Orange County Sweet Digs Wed, 25 Nov 2009 21:31:02 -0800 http://wordpress.org/?v=2.8.1 hourly 1 By: Julie Lance http://blog.redfin.com/orangecounty/2008/03/tustin_kicking_it_down_a_notch.html/comment-page-1#comment-5755 Julie Lance Tue, 04 Mar 2008 21:05:42 +0000 http://blog.redfin.com/orangecounty/2008/03/tustin_kicking_it_down_a_notch.html#comment-5755 Good points to both of you. The issue seems to be people hanging on to the higher prices because of the lack of equity. Tustin Ranch is a good example. Tustin Ranch has had higher prices historically. They are coming down, but with those that bought so high, it's a slow process. What I find interesting is the recent increase in the quantity of reductions. No doubt all home prices in the OC (in CA, in US...) are falling... but why in two days, did we see a spike in the frequency in Tustin? Good points to both of you. The issue seems to be people hanging on to the higher prices because of the lack of equity. Tustin Ranch is a good example. Tustin Ranch has had higher prices historically. They are coming down, but with those that bought so high, it’s a slow process.

What I find interesting is the recent increase in the quantity of reductions. No doubt all home prices in the OC (in CA, in US…) are falling… but why in two days, did we see a spike in the frequency in Tustin?

]]> By: Munki's Unkel http://blog.redfin.com/orangecounty/2008/03/tustin_kicking_it_down_a_notch.html/comment-page-1#comment-5754 Munki's Unkel Tue, 04 Mar 2008 20:08:43 +0000 http://blog.redfin.com/orangecounty/2008/03/tustin_kicking_it_down_a_notch.html#comment-5754 I'd say Tustin has a few more notches to kick down. It is truly sad to see these delusional prices. If these owners have the equity in their homes to play with, they could sell in a couple of weeks if they would only price them to what the comp prices will be in 6 months to a year. Go ahead and knock off a sizable percentage. I’d say Tustin has a few more notches to kick down. It is truly sad to see these delusional prices. If these owners have the equity in their homes to play with, they could sell in a couple of weeks if they would only price them to what the comp prices will be in 6 months to a year. Go ahead and knock off a sizable percentage.

]]> By: Jack Daniels http://blog.redfin.com/orangecounty/2008/03/tustin_kicking_it_down_a_notch.html/comment-page-1#comment-5746 Jack Daniels Tue, 04 Mar 2008 16:08:23 +0000 http://blog.redfin.com/orangecounty/2008/03/tustin_kicking_it_down_a_notch.html#comment-5746 Is the real estate market not reflective of what is happening. Tustin is no exception - its an area in my view that has few advantages. If in Irvine prices are going down, why would anyone pay a higher price. Folks in Tustin should compare comparable homes in Irvine and then put a price tag on selling value. Most buyers are doing this comparision now also! One area thats extremly overvalued seems to be Tustin-Ranch. Its a good area but is it worth what folks there are asking if 1/2 mile ahead Irvine homes are selling cheaper. Is the real estate market not reflective of what is happening. Tustin is no exception – its an area in my view that has few advantages. If in Irvine prices are going down, why would anyone pay a higher price. Folks in Tustin should compare comparable homes in Irvine and then put a price tag on selling value. Most buyers are doing this comparision now also! One area thats extremly overvalued seems to be Tustin-Ranch. Its a good area but is it worth what folks there are asking if 1/2 mile ahead Irvine homes are selling cheaper.

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