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193 and Sliding!

Dec 31st, 2012 by Cubic Zirconia 

While the world is busy counting down to the New Year, we, the residents of Unicornville did a countdown of our own. Lo and behold, the inventory is below 200. 193 properties on the market as of December 31st,2012. Good news for the home owners, and not so bad news for the buyers because the mortgage rates are at their lowest. Fiscal Cliff decisions tomorrow could drive the market either way for 2013 – if we dip into another recession, the projected legendary housing depression of 2012 might happen in 2013, or in 2014 when people start losing jobs again, and run out of benefits thereby stopping the mortgage payments, and foreclosing their properties. But, today, the post is about 2012.

Here is a report card for one my favorite Irvine villages, West Irvine:

Inventory is down by 72.8% Vs 2011.
Median Sold Price is up 37.2% Vs 2011.
Median Sold Price/ SF is up 3.3%.
All properties currently on the market in this village are above $300/SF, and one of them is $401/SF.
There are no condominiums (detached or attached) for sale.

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Closed Sales from 12/20/2012 to 12/26/2012

Dec 28th, 2012 by nilam 
Date Sold Address Zip Tract Sold Price Beds Sq Ft
Airport Area          
12/20/12 3141 Michelson 311 92612 Marquee at Park Place $455,000 2 1467
12/21/12 1372 Scholarship Way 92612 Avenue One $275,000 2 1037
12/21/12 5151 Scholarship 92612 The Plaza (5000 and 8000) $2,225,000 2 2680
             
El Camino Real          
12/20/12 33 Kazan St 50 92604 Walnut Square $315,000 3 1099
12/21/12 14881 GENEVA St 92604 UNKNOWN $504,900 3 1700
             
Northpark            
12/21/12 17 Riveroaks 92602 Rutherford $780,000 4 2850
12/21/12 33 Harmony 92602 Brentwood $1,159,150 4 3250
12/24/12 77 Modesto 94 92602 San Simeon $558,000 3 1650
             
Northwood          
12/20/12 239 Huntington 92620 Horizon $257,250 2 1018
12/20/12 12 Crosskey 92620 Imperial Homes $862,000 5 3100
12/21/12 99 Remington 92620 Horizon $295,000 2 1000
12/24/12 44 Turnbury Ln 92620 Carlyle at Lanes End $565,000 3 2165
12/24/12 9 Hibiscus 92620 Somerton $1,275,000 6 3720
12/24/12 34 Stratford 92620 Glen (NW) $549,000 3 1273
12/24/12 318 Streamwood 92620 Irvine Springs $260,000 2 853
             
Oak Creek            
12/21/12 5 Birchwood 92618 Ashford Place $785,000 4 2907
             
Portola Springs          
12/20/12 182 Pathway 92618 Primrose $600,000 3 1873
12/21/12 60 Autumn Sage 92618 Other $697,213 4 2330
             
Quail Hill            
12/20/12 302 Quail Rdg 92603 Ambridge $445,000 2 1468
12/20/12 114 Stepping Stone 92603 Casalon $582,500 3 1702
             
Rancho San Joaquin          
12/21/12 47 Morena 41 92612 RSJ Villas $330,000 1 1077
             
Turtle Ridge          
12/21/12 107 Jadestone 92603 Ashton Green $400,000 2 1181
             
Turtle Rock          
12/20/12 14 Daystar 92612 Concordia $1,275,000 5 3200
12/21/12 38 Rainbow Rdg 44 92603 Ridge Townhomes Akins $515,000 2 1527
12/26/12 9 Stardust 5 92603 Ridge Townhomes Bren $492,500 2 1749
             
University Park          
12/22/12 18 Broadleaf 92612 Parkside - Standard Pacific $1,010,000 4 2450
12/24/12 11 Goldenglow St 92612 Village II $475,000 2 1279
             
Walnut            
12/24/12 3602 Carmel Ave 92606 other $621,000 4 1900
             
Westpark            
12/20/12 125 Costero Aisle 275 92614 Tiempo $350,000 2 900
12/21/12 3 Medici Aisle 92606 Corte Bella Villas $520,000 4 1600
12/26/12 19 Terraza 92614 Meridien $785,000 3 2237
             
Woodbridge          
12/20/12 19 Buckthorn 92604 Gables $1,200,000 5 3000
12/21/12 25 Racing Wind 92614 Cottage Homes $535,000 3 1571
12/21/12 1 Cresthaven 40 92604 Parkside $365,000 2 1101
12/21/12 7 Woodland Dr 92604 Park Homes $462,500 3 1321
12/21/12 4 Orangegrove 92604 Grove $625,000 3 1840
12/20/12 20 Bungalow 92620 Rosemoor $742,005 4 2700

Discuss on Talk Irvine: http://www.talkirvine.com/index.php/topic,3423.0.html


Posted in News

Open House Review: 63 Stowe

Dec 27th, 2012 by Karen 

As of December 14, 63 Stowe is back on the market following a failed attempt at a short sale earlier this year.  This home is now going to be a standard sale and has already dropped $11,000 since going on the market on December 14.

The basics:
Asking Price: $1,388,000
Bedrooms: 4 + loft
Bathrooms: 3.5
Square Footage: 2600
Lot Size: 3,411
$/Sq Ft: $407
Days on Market: 13
Property Type: Single Family Home
Year Built: 2005
Community: Woodbury – Milles Fleurs

HOA dues are $105 per month and there are Mello Roos taxes.

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Open House Review: 110 Coral Rose

Dec 26th, 2012 by SMS 

Turtle Ridge Condo Challenge      
110 Coral Rose, $509,000

Either this condo will fit the buyer like a glove, or not at all.   That was my first impression when I drove up Coral Rose, a short distance from Newport Drive. The street is quiet, lined with three story condos, each carefully framed with well tended greenery.

Inside, the condo was humming with a steady stream of open house traffic. When I saw it the home had just been placed on the market, and 6 days later it is listed as a pending sale. Evidently it fit someone perfectly.

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‘Tis was the year before Irrational Exuberance 2.0

Dec 24th, 2012 by Cubic Zirconia 

Inventory as of 23rd December: 202.
Lowest:  2 Verde @ $246/SF
Highest:  36 Boulder View @ $1,429/SF

At this rate, we might dip below 200 before the New Year. It's good news for sellers, but not so great for buyers. The market conditions have changed a lot since January this year. The inventory has dipped 65.1% since January. Median List Price has shot up by 45.6%, and Median list Price/SF by 16.4%. Last January when I started writing for Irvine Housing Blog, I knew Irvine was on path to recovery, defying all charts and projected prices and inventory by the experts, but I didn't anticipate this big a change.

Today, I will profile a property that has defied mostly all micro and macro market conditions, and continues to hold a good price of $376/SF despite being more than twenty five year old townhouse. It's been upgraded and updated beautifully. Another half-a-million dollar condo on Irvine, less than 1500 SF area.

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Closed Sales from 12/13/2012 to 12/19/2012

Dec 21st, 2012 by nilam 
Date Sold Address Zip Tract Sold Price Beds Sq Ft
Airport Area          
12/13/12 3141 Michelson Dr 1005 92612 Marquee at Park Place $490,000 2 1293
12/14/12 3262 Watermarke Pl 92612 Watermarke $345,000 1 842
12/18/12 5120 Scholarship 92612 The Plaza (5000 and 8000) $1,700,000 3 2685
             
Columbus Grove          
12/13/12 214 Silk Tree 92606 Savannah $415,000 3 1486
             
El Camino Real          
12/14/12 14951 Groveview Ln 92604 Other $375,000 2 785
12/14/12 16 BUTTERFLY 92604 Irvine Groves $388,000 3 1280
12/19/12 14611 Lofty St 92604 OTHER $542,500 4 1202
             
Northpark            
12/17/12 15 Kernville 92602 Triana $1,155,000 4 3600
             
Northwood          
12/14/12 76 Trailing Vine 97 92602 Tamarisk $360,000 3 1398
12/14/12 5 Canyonwood 92620 Oakhurst $920,000 4 2600
12/16/12 1610 Timberwood 92620 Collage $405,000 2 1267
             
Oak Creek            
12/18/12 24 Redberry 92618 Cypress $712,500 4 2050
12/18/12 158 Cherrybrook Ln 92618 Cobblestone $480,000 2 1200
             
Portola Springs          
12/14/12 62 Autumn Sage 92618 Other $641,363 4 2023
12/15/12 35 Exploration 92618 Serra $1,385,000 5 3866
             
Quail Hill            
12/14/12 43 Duet 92603 Ambridge $577,000 3 1843
12/14/12 150 Tapestry 92603 Tapestry $1,250,000 5 2900
             
Rancho San Joaquin          
12/18/12 21 Viejo 78 92612 RSJ Townhomes $485,000 2 1507
             
Turtle Ridge          
12/13/12 145 Danbrook 92603 Ashton Green $510,000 2 1400
12/14/12 23 Blue Smt 92603 Amberhill $2,850,000 5 4333
12/18/12 71 Canyoncrest 92603 Chantory $515,000 2 1030
             
Turtle Rock          
12/17/12 3 Morning Dew 92603 Glen Patio Homes $1,000,000 4 1987
             
University Park          
12/19/12 15 Camphor 92612 Terrace $499,000 2 1224
             
University Town Center          
12/13/12 45 Oxford 92612 Columbia Square $454,000 2 1232
12/18/12 51 Georgetown 42 92612 Cambridge Court $525,000 2 1447
             
West Irvine          
12/19/12 143 Topaz 16 92602 Mandeville $495,000 3 1500
             
Westpark            
12/13/12 16 Cannes 92614 Sorrento $770,000 3 2108
12/14/12 11 PRIMAVERA 92614 Barcelona $560,000 3 1253
12/17/12 128 Agostino 92614 Las Palmas $420,000 3 1407
             
Woodbridge          
12/13/12 27 Willowgrove 92604 Grove $485,000 2 1552
             
Woodbury          
12/13/12 27 Stowe 92620 Mille Fleurs $1,218,000 4 3500
12/14/12 16 Nature 92620 Santa Barbara $425,000 2 1165
12/15/12 31 City Stroll 92620 Esplanade $552,184 3 2074

Discuss on Talk Irvine: http://www.talkirvine.com/index.php/topic,3415.0.html


Posted in News

Open House Review: 19 Fortuna West

Dec 20th, 2012 by Karen 

If you are on the lookout for a four bedroom + bonus room home, take a look at 19 Fortuna West.  This home has a great layout and a lot of space.

The basics:
Asking Price: $770,000
Bedrooms: 4 + bonus room
Bathrooms: 2.5
Square Footage: 2,673
Lot Size: 5,671
$/Sq Ft: $288
Days on Market: 42 
Property Type: Single Family Residence
Year Built: 1977
Community: Northwood – Park Paseo

HOA dues are $85 per month and there no are Mello Roos taxes.

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