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Tustin and Irvine

Hi,

I have been looking for a home for over a year in Tustin and Irvine region. I am looking for a 3-4 bed home. I feel like I keep getting priced out as I wait, trying to see if the price will stabilize or have a correction. I started by looking at homes around $600-$800K range but now I am looking at $800K-$1M range.

I max my retirement contributions, my income is stable $300K, I have 20% down, I will be staying in Irvine or Tustin for the foreseeable future so this is where I want to buy.

I am wondering, do I continue to wait or do I overbid up to what I am comfortable making monthly payment so that I can at least enter the market, keep that home for a few years and build equity where I can choose to rent out or sell and roll it into my next home.

I have bid aggressively and have had 1 offer accepted in Tustin. The home was listed for $945K, I bid $975K then got a counter and bid $1,015,000 and got the offer accepted. I am wondering if I am overpaying so much that I will lose on this property.

Thank you for your help :)

submitted by /u/meiomi0
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source https://www.reddit.com/r/RealEstate/comments/roay4l/tustin_and_irvine/
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