Irvine homes are all being bought by investors. That is what I am being told

If that's true, then there's even more incentive for you to get out there and get you one.. currently, about 60% of homes purchased in Irvine are Investor purchased. Most investors purchase with cash, so they are always looking for the "cash discount".. so someone financing, will likely pay more. I recently read an article where a family looking to purchase in CA. they were aware of all the competition and multiple offers being submitted on every home. The realtor suggested that they write a "hand written letter" to the seller explaining why they wish to purchase the home, and what attributes they like most. The couple wrote a letter explaining they were a recently married couple with a 2 year old boy and a child on the way. they explained how they loved the neighborhood, schools, and proximity to a park. They also talked about he character of the home. They included a few photos of their family. The sellers were touched by this and ultimately accepted their offer over the other offers submitted, mostly by investors for cash. A good realtor can help you get a home, regardless of the market profile. If there's a will, there's a way!! .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Hi Barry! If that is the case, the purchasing may not stop. Investor's look to make a return on their investment, so if they are purchasing property, they will be looking for the rental market prices to increase. I would look to get Pre-Approved for something, including a 2-4 unit where you can use the rental income towards your income to qualify. If the numbers work, you can purchase a multi unit to live in and have the rental income help with your mortgage payments. This may help you qualify for more than what you could on your own. If you would like to go over your situation and discuss some options, I'd be happy to help without any obligations. Thank you and good luck!

The answer SCeceri has provided is good. If you can't fight them (investors) why not join them - by buying a multi unit (2-4) and thus having the income from the other units to help pay your mortgage, and you living there (owner occupied, could qualify with about 10% down, whereas if you don't live there (true investment) you will need to have 25% down.)There may be problem, in that I just checked on line and could not locate any 2-4 unit properties available in Irvine. So you may have to get yourself pre-approved for what you can, and then see if you can qualify to buy one of the homes on the market.

Unfortunately, unless there is a major correction, industry analysts all agree that housing prices are going to keep increasing over the next three years. Maybe looking for a diamond in the rough where you can do some remodel work to it when you buy it could help vs. buying one that is turnkey... with an FHA 203k streamline loan you can roll in up to $35k of remodel work. Your contractor gets half at closing, and the other half when the work is completed. Rates are only slightly higher than standard FHA loans and you still only have to put down 3.5%. We have loan officers all over CA that can assist you. Ask me for a referral if you're interested!

Consider a move to the East, such as Pomona, Fontana or Corona areas. It will be a longer commute, but there are still bargains in these areas.

It is highly unlikely that all of the home inventory in Irvine is being bought by investors. There are certain price ranges that are more desirable than others that attract the majority of them. What is the price range of the home you are preapproved to buy, and what type home are you looking for--single family residence, condo, townhouse, duplex, etc.? The key to buying in this market is to find a home that is suitable for your needs, and offer more than the asking price. Just how much more, is anyone's guess. Sellers, especially investors, are purposely listing their homes lower than what they want with the expectation that they will get multiple offers, and then bump the prices of their homes up. You will be best served to find a home being sold by the owner rather than an investor, or one you can purchase as a short sale or foreclosure. If you need assistance with your mortgage loan, give me a call 16/7, or email me your phone number so I can call you, and I'll be happy to walk you through the process. To learn more about me and our mortgage brokerage, click on my picture. When the next page pops up, click on "Website" and you will be redirected to ours. We work exclusively in CA and get loans done fast, typically in less than 30 days, at low interest rates and costs. Representing 40+ quality lenders that offer more than 1,000 loan programs, we definitely have something for everybody.

While it is true in many areas that investors are buying up a lot of homes... It sounds to me like you simple need a different Realtor to assist you in making your home buying dreams come true.

"hand written letter" to the seller! I will confirm this thought as well. I have witnessed this letter to the seller work multiple times in the past. You know sometimes the sellers are just really attached to the home and really don't care about anything else but making sure good appreciative people own that home and take care of it after they leave it. Peace of mind for some is everything.

A lot of them are, but not all of them.