Sales volumes are still 20% below historic norms, and inventory just hit a new 23-month high. Will prices hold up, or will they weaken and move lower?
Irvine Home Address ... 59 DEL CAMBREA Irvine, CA 92606
Resale Home Price ...... $610,000
For our weekend open thread, I have another Northwood II property passing through the foreclosure meat grinder.
Irvine Home Address ... 65 BAMBOO Irvine, CA 92620
Resale Home Price ...... $850,000
The number of foreclosures will set new records this year, and rates are ten times historic norms. It will take at least three more years to clean up this debris.
Irvine Home Address ... 17255 CITRON Irvine, CA 92612
Resale Home Price ...... $498,000
A petty crook in Montana tried to steal real estate owned by a bank. He's not much different than many participants in the housing market here in California. His real crime was failing to fill out a mortgage loan application first.
Irvine Home Address ... 14541 GUAMA Ave Irvine, CA 92606
Resale Home Price ...... $749,000
JPMorgan Chase has made a silent shift from foreclosures to short sales in an attempt to clear their delinquent loan backlog.
Irvine Home Address ... 10 SUNSTREAM Irvine, CA 92603
Resale Home Price ...... $549,000
Lenders worry about accelerated or strategic default because their behavior encourages it. As lenders allow more borrowers to live for free, more borrowers will opt to do so.
Irvine Home Address ... 24 PISMO Bch Irvine, CA 92602
Resale Home Price ...... $1,499,000
A recent trustee sale in the North Korea towers sets a new standard for housing bubble losses in Irvine: $1,099,400. Perhaps Irvine isn't such a safe haven after all.
Irvine Home Address ... 3131 MICHELSON Dr #1702 Irvine, CA 92612
Trustee Sale Price ...... $653,100
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