Rising Sun and the Midnight Sky

Apr 16th, 2012 by Cubic Zirconia 

Market value of a property is subject to what a buyer is willing to pay the seller given the current local, regional and national market conditions. Irvine inventory is reaching a new low. Last April there were 807 properties for sale. Six months ago there were 780. A month ago 534. Today, we have 507 properties for sale in Irvine according to the Irvine Housing Blog chart. (506 according to www.movoto.com, 258 Single Family Residences and 248 Condominiums). Robert Shiller, the co-creator of the Case-Shiller Index has been quoted saying “the market has a chance of rebounding even though the downward momentum in the real estate market has accelerated in the past five years”.

With the low inventory, and a low unemployment rate (6.0% in Irvine), is it time for Irvine home prices to rebound? Will the summer of 2012 become the turning point in the Irvine real estate market?

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Posted in Real Estate Analysis

Closed Sales from 4/5/2012 to 4/11/2012

Apr 13th, 2012 by nilam 
Date Sold Address Zip Tract Sold Price Beds Sq Ft
             
Airport Area            
4/6/12 2168 Scholarship 92612 Avenue One $315,000 2 1037
             
El Camino Real          
4/5/12 3 Palamedes 92604 Irvine Groves $460,000 3 1943
             
Northpark            
4/9/12 15 Del Mar 92602 Tiburon $548,000 3 1601
             
Northwood            
4/7/12 19 Field 92620 Shadow Run $620,000 4 1891
4/10/12 194 Woodbury 92620 Arden Square $660,000 4 2082
             
Oak Creek            
4/11/12 3 Glenoaks 92618 Ashford Place $815,000 4 2750
             
Portola Springs          
4/5/12 30 Land Grant 92618 Sevilla $594,490 4 2044
             
Quail Hill            
4/11/12 9 Coriander 92603 Linden $791,000 3 2245
             
Turtle Ridge            
4/5/12 208 Coral Rose 92603 Ashton Green $430,000 2 1398
             
Turtle Rock            
4/11/12 7 Centaurus 92603 Crest - Akins $1,050,000 3 3290
             
University Park          
4/5/12 7 Acacia Tree Ln 92612 Village III $566,000 4 2200
             
Walnut            
4/11/12 3832 Magnolia St 92606 College Park $600,000 4 2312
             
West Irvine            
4/5/12 103 Sapphire 36 92602 Mandeville $375,000 3 1469
             
Westpark            
4/9/12 9 Cuzzano Aisle 92606 Corte Bella $299,000 2 1100
4/9/12 66 Costero Aisle 92614 Tiempo $266,000 1 850
4/10/12 6 Estrella 92614 Meridien $733,000 3 2325
             
Woodbridge            
4/5/12 63 Fallingstar 92614 Laurels $285,000 2 1000
4/6/12 19 Windjammer 92614 Somerset $373,000 3 1260
4/11/12 33 Foxhollow 92614 Somerset $360,000 3 1325
             
Woodbury            
4/5/12 37 Iceberg Rose 92620 Four Quartets $460,000 3 1745
4/9/12 85 Lamplighter 92620 Stonetree $672,000 4 2400
4/9/12 59 Donovan 92620 Montecito $760,000 4 2308

Discuss below or at Talk Irvine.


Posted in News

A Sampling of Homes in Irvine Without Mello-Roos Taxes

Apr 11th, 2012 by Sylvia Walker 

Last week I wrote about Lambert Ranch, Irvine’s newest development that goes on sale at the end of this month. As I mentioned in that post, the Lambert Ranch developers are departing from a trend in Irvine that has been dominant for some time. This trend is the inclusion of  Mello-Roos taxes as part of the purchase of a new home.

That got me wondering what areas in Irvine have homes available without Mello-Roos taxes. The general answer is the older areas in Irvine. But to give you a better idea of where these homes are located, following is a sample of homes in Irvine that are currently on the market that do not have Mello-Roos taxes. They may or may not have HOA fees.

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Posted in Real Estate Owned

Same Floorplan, Same Village, Very Different Price

Apr 9th, 2012 by Cubic Zirconia 

Today we will compare two homes in the guard gated Northpark community of Irvine. Both the houses have the same floor plan, and same square feet area. But one of them is priced $60,000 more than the other. When you see the MLS pictures of the houses, there isn’t much difference between both in terms of interior upgrades. Both are standard sales. Northpark has about 36 homes for sale now, 12 sold this year.

For the 92602 zip code, inventory is down 27.6% on a year-t0-year basis. 
11 homes sold in February. Median sold price has climbed 11.1% to $450,000.

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Posted in Real Estate Analysis

Closed Sales from 3/29/2012 to 4/4/2012

Apr 6th, 2012 by nilam 
Date Sold Address Zip Tract Sold Price Beds Sq Ft
             
Airport Area            
3/29/12 2256 Watermarke Pl 92612 Watermarke $370,000 3 1480
3/29/12 3118 Watermarke Pl 92612 Watermarke $202,000 1 635
3/30/12 5044 Scholarship 92612 The Plaza $425,000 1 1175
3/31/12 8125 Scholarship 92612 The Plaza $730,000 2 1675
4/4/12 2115 Watermarke Pl 92612 Watermarke $180,000 1 635
             
El Camino Real          
4/2/12 9 Penny Pines 92604 Deerfield Patio $545,000 3 1900
             
Northpark            
3/29/12 33 Olivehurst 92602 unknown $375,000 3 1588
3/30/12 42 Salton 92602 San Juan Bautista $379,000 2 1400
             
Northwood            
3/30/12 126 Streamwood 92620 Custom $155,000 1 639
4/2/12 30 Runningbrook 92620 Silverado $1,038,000 5 3160
4/4/12 34 Brena 92620 Crestwood Estates $750,000 4 2459
             
Oak Creek            
4/2/12 1404 Elk Grv 92618 Oak Park $335,000 2 1200
             
Orangetree            
4/3/12 165 Tarocco 92618 OG $258,000 2 995
             
Portola Springs          
3/29/12 25 Native Trails 92618 Las Colinas $1,002,075 4 3109
3/30/12 60 Pathway 92618 Vientos $411,500 2 1300
             
Shady Canyon          
3/30/12 53 Boulder View 92603 Shady Canyon Custom $4,800,000 5 8503
             
Stonegate            
3/29/12 45 Mayfair 92618 Santa Clara $346,343 1 1129
3/29/12 37 Bromeliad 92618 Capistrano $620,017 4 1904
             
Turtle Ridge            
3/30/12 30 Hedgerow 92603 Bontanica $1,500,000 5 3800
3/30/12 28 Reserve 92603 La Cima $3,528,000 5 5699
3/30/12 143 Roadrunner 92603 Whispering Glen $532,000 2 1589
3/30/12 115 Canyoncrest 92603 Chantory $500,000 2 1030
             
Turtle Rock            
3/30/12 26 Moonlight 92603 Ridge Townhomes Bren $445,000 2 1400
             
University Park          
3/29/12 116 Sequoia Tree Ln 92612 Garden Homes $472,000 3 1495
             
University Town Center          
3/30/12 170 Stanford Ct 92612 Princeton Townhomes $330,000 2 944
4/1/12 4 Lehigh Aisle 92612 Oxford Court $405,000 2 1682
             
Walnut            
3/29/12 66 Royal Victoria 92606 Parklane $385,000 2 1200
             
West Irvine            
3/29/12 45 Bradford 92602 Sheridan Place $490,000 3 1638
3/30/12 15 Parma 92602 Concord $814,500 4 2900
3/30/12 34 Halifax Pl 92602 Liberty $624,900 4 2000
3/31/12 109 Sapphire 92602 Mandeville $435,000 3 1500
4/3/12 19 Sagamore 92602 Andover $425,000 3 1500
4/4/12 84 Legacy Way 92602 Liberty $545,000 3 1500
             
Westpark            
3/29/12 3612 Baylor St 92614 other $465,000 4 1448
3/29/12 192 Alicante Aisle 92614 Tiempo $244,500 2 858
3/29/12 5 Corriente 92614 Vista West Park $717,200 4 2138
4/2/12 5 Le Vanto 92606 Brindisi $430,000 2 1000
4/3/12 1805 Ladrillo Aisle 92606 Brio $249,900 1 785
             
Woodbridge            
3/29/12 104 Echo Run 92614 Park Vista $285,000 3 1117
3/29/12 20 Woodfern 92614 Other $330,000 3 1165
3/29/12 3 Fallingstar 92614 Laurels $295,000 2 1167
3/30/12 60 Timber Run 92614 Somerset $295,000 3 1240
3/30/12 2 Hickory 92614 Briarglen $650,000 3 1786
3/30/12 69 Briarglen 92614 Laurels $365,000 2 1227
3/30/12 67 Havenwood 92614 Parkview $428,000 3 1578
3/30/12 130 Clearbrook 92614 Park Vista $259,000 2 970
4/2/12 8 Alderberry 92604 Townhomes $465,000 3 1646
4/2/12 33 Weepingwood 92614 Parkview $355,000 3 1399
4/3/12 5 Fallcrest 92614 Seasons $430,000 3 1471
4/4/12 134 Echo Run 92614 Park Vista $185,000 1 750
             
Woodbury            
3/29/12 54 City Stroll 92620 Esplanade $537,490 3 2074
3/29/12 205 Wild Lilac 92620 Garland Park $365,256 2 1357
3/29/12 59 Sanctuary 92620 Mille Fleurs $950,000 5 3500
3/29/12 193 Wild Lilac 92620 Garland Park $458,888 3 1875
3/30/12 101 Towngate 92620 Four Quartets $460,000 3 1706
3/30/12 247 Vintage 92620 Rosemoor $725,000 3 2400
4/4/12 38 Concierto 92620 Lombard Court $416,000 2 1562

Discuss below or on Talk Irvine.


Posted in News

A Change in Trend for Irvine Housing: No New Mello Roos?

Apr 4th, 2012 by Sylvia Walker 

An IHB post from last week was about one of Irvine’s most recent housing development, Lambert Ranch. As Zovall stated in that post, a sneak preview of the homes in this new development occurred recently. Some TalkIrvine participants attended the preview and gave some interesting and differing opinions. You might want to take a look at their comments.

Today's post is another twist on this new housing development in Irvine.

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Posted in New Homes

Attached, Detached, or Single Family Residence

Apr 2nd, 2012 by Cubic Zirconia 

When you ask people what matters most in the house they will buy, they will pick floor plan. If you ask me, there is one more decision to make before you set out to buy. Attached, detached or Single Family Residence. All Irvine villages offer the three choices. Today, we will compare three properties around the same square feet area in the village of Woodbury. One of them is an attached condominium that shares common wall with neighbors, and one of them is a detached condominium that doesn’t have any shared wall, and the other one is a single family residence.

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Posted in Real Estate Analysis
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