Are government house price supports working?

May 11th, 2011  
by IrvineRenter  in Library News

Astute Observations

Astute Observation by Laura Louzader
2011-05-11 05:40 AM

A better question is SHOULD government price supports work.

But they aren’t. The only prices being “supported” by the bailouts and QE2 are the upward-spiraling commodity prices, especially food, which is working a vicious hardship on people too broke to care about housing prices except at they affect rents.

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Astute Observation by Gavrilo Princip
2011-05-11 07:44 AM

Why does someone need a freezer in a laundry room?

Funny you should ask.  Placing clothes in the freezer supposedly kills moth eggs, if the clothing is wrapped up and left in the freezer for several days. 

This weekend, in response to a moth infestation in my closet, I took all of my suits to the dry cleaners.  But I could not afford to dry clean every single item in my closet.  So I wrapped up several bags of pants, sweaters, etc, which now sit in the box freezer in my garage.  Note that I live in San Clemente; having a box freezer in my garage is far to declasse for Irvine. 

Now I have something to aspire to:  a freezer in the laundry room.  If I really make it big, I will splurge for “extra freezers”.

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Astute Observation by IrvineRenter
2011-05-11 08:16 AM

Thanks. I learned something new today.

So laundry room freezers are now on par with wine rooms and posh home theaters.

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Astute Observation by darms
2011-05-11 01:50 PM

Another reason to put a freezer in a laundry room is that current frost-free freezers have their evaporator coils in the freezer walls instead of outside the freezer on the back or bottom. When ours died last summer the repairperson told me these freezers aren’t designed to be in a hot garage (ours gets over 100 in the summer) and they tend to fail at an early age because of that. There are freezers designed for that environment but the frost-free versions are quite expensive, >$2K. How’s that for useless trivia?

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Astute Observation by gmoney
2011-05-11 08:28 AM

indeed, the frozen moth eggs are an irvine delicacy, great as a subsitute for ice in any cocktail being slammed as you watch your equity slither away…

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Astute Observation by octal77
2011-05-11 09:00 AM

“...It may be many years before the Orange County premium reverts to it’s historic mean…”

Exhibit “A”

2 Sunpeak, Irvine, 92603.

This monster is currently listed at $2,750,000
even after a $148K price cut yesterday (10-may).

True value?  $1,500,000 and that would be a stretch.

For more detail, see writeup up in an IHB blog several months ago. (Irvine renter - do you recall the date?)

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Astute Observation by IrvineRenter
2011-05-11 09:52 AM

Dec 27th, 2010

How attorneys enable squatters to game the system

I see they are chasing the market down from their $3,075,000 asking price.

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Astute Observation by octal77
2011-05-11 10:13 AM

Those folks have got a ..long.. ..long.. way down.

The upholstery in that property is going to attract moths at current pricing levels.

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Astute Observation by AZDavidPhx
2011-05-11 04:00 PM

It’s all that surging demand.  Now that the posers have been kicked out and all the real money is finding its way into the market, that house will be in escrow within days for well above the lowered asking price.  You cannot go wrong buying in Irvine.

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Astute Observation by tenmagnet
2011-05-11 10:10 AM

Agree, a loss of $1.6M in four years is ugly.
The positive is that Turtle Ridge, an upper tier community, has become more affordable.

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Astute Observation by jhill
2011-05-11 10:11 AM

I’ve asked this before—how can it be an “estate” when you can see into the window of the house next door from your window???  Folks with this kind of scratch are going to look for an “estate” where that doesn’t happen.

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Astute Observation by gepetoh
2011-05-11 11:54 AM

It certainly looks “estate”-like on the inside.  But why you would build a 6000sf home on an 11,000sf lot, with standard driveway, for $3M, is beyond me.

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Astute Observation by SanJoseRenter
2011-05-11 07:32 PM

Yeah baby!

nytimes: $729,750 Jumbo limit set to expire

“[...] there is no entitlement to living in a home that costs $750,000.” smile

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Astute Observation by SanJoseRenter
2011-05-12 11:16 PM

Emoticons test

smile smile
big smile :d :D
frown :(
kiss :* :-*
straightface :|
cool B-)

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