The school of hard knocks is a costly way to learn about real estate markets. The owners of today's featured property are learning a very hard lesson as their property has lost 39% of its resale value in just over two years.
Asking Price: $550,000
Address: 5053 Scholarship, Irvine, CA 92612
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Can real estate serve as a long-term reservoir of value? For the most part, the answer is no.
Asking Price: $690,000
Address: 18 Bayberry Way, Irvine, CA 92612
You don't need a realtor to sell property. If you know how to market and negotiate, you can do most of the work yourself; however, if you are not skilled in these areas, perhaps a little help might be in order.
Asking Price: $440,000
Address: 3 Camphor S, Irvine, CA 92612
Check out an interview with me at Matt Padilla's blog, Foreclosure is the ‘cure’.
Read the rest of this entry »Lenders are completely in control of the pricing in many markets around California and the rest of the Country, and they control the lowest tier of the market here in Irvine. What will they do with their power?
Asking Price: $263,500
Address: 244 Lemon Grove, Irvine, CA 92618
Bonus question: Would you buy on a freeway?
Read the rest of this entry »Is it only the blogs that noticed a huge spike in interest rates over the last couple of weeks?
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Property type: Detached SFR
Square footage: 3000 square feet or more
Bedrooms: 4 or more
Bathrooms: 3 or more
Preferred enclaves in preference order: (1) Turtle Ridge, (2) Quail Hill, (3) Turtle Rock, or (4) Woodbridge
Specifications: (1) View or extremely well landscaped yard (similar to 111 Nighthawk), (2) Move-in ready, and (3) Plenty of natural light.
Price: 1.5 million or below -- buyer is willing to pay fair market value based upon comparable properties
Sample properties: 1) 30 Canyon Terrace 2) 37 Tall Hedge 3) 37 Hedgerow 4) 111 Nighthawk
If you have a property meeting these specifications you would like to sell, please contact Shevy Akason at Evergreen Realty shevy.akason@evergreenrealty.net (949) 769.1599
(This is a compensated post)
I am always amazed at the asking prices in Turtle Ridge. There are REOs and defaults everywhere and prices rolling back under $1,000,000 on high end properties, and yet there are owners like today's who think their properties have appreciated 40% since they bought at the peak in 2006. WTF?
Asking Price: $2,688,000
Address: 28 Woods Trail, Irvine, CA 92603
BTW, Kelli Hart has an interesting post at South Coast Homes on the house in San Clemente falling off a cliff, and Matt Padilla has a great post on the impact of HELOC abuse on the foreclosure market. Check them out.
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