The sun is shining, the bluebells are blooming, and prices are crashing back to 2003 levels.
Asking Price: $450,000
Address: 14 Bluebell, Irvine, CA 92618
Irvine Homes has my profile on Deerwood in Irvine.
Read the rest of this entry »The long awaited implosion of the North Korean towers at the Marquee is happening as envisioned. There is a race to the ground, and no floor in prices is in sight.
Today's featured property is being offered for 53% off its purchase price.
Asking Price: $349,900
Address: 3131 Michelson #307, Irvine, CA 92612
One more community profile at the Irvine Homes Blog: Quail Hill.
Read the rest of this entry »Some people should never have been given the loans they had; they can't afford the properties they occupy. Today's featured property is beyond the means of its owners, so it is going into foreclosure. Is this foreclosure a crisis? or is is the cure to their debt problems?
Asking Price: $1,399,000
Address: 25 Arcade, Irvine, CA 92603
I contributed another post at Irvine Homes: Turtle Rock.
Read the rest of this entry »One advantage of a big house is entertaining guests in a fancy ballroom. When buyers wonder why the asking price is so high, owners can say, "because I have big balls."
Asking Price: $1,998,518
Address: 5 New Dawn, Irvine, CA 92620
BTW, if you want to see some of the biggest balls in Orange County, check out the new Coto Housing Blog, and check out this HELOC abuse case in San Clemente.
Read the rest of this entry »Right now there are more houses in some stage of foreclosure than there are current listings of properties for sale. The lifting of foreclosure moratoria is causing a spike in default notices. The second wave is building.
The owner of today's featured property recently cut the price $100,000 in an effort to move it before the wave hits.
Asking Price: $499,999
Address: 26 Longshore #31, Irvine, CA 92614
See my profile of Oak Creek at Irvine Homes blog.
Read the rest of this entry »Our popular tour to surrounding communities in search of HELOC abuse continues in Huntington Beach. So far we have seen $3,367,500 HELOC Abuse from Hollywood, $5,000,000 HELOC abuse from Laguna Beach and $7,000,000 HELOC abuse in Newport Coast. This week instead of going for one big abuser, I want to give you a more complete picture of how common this problem is. The following post contains a partial list of homes for sale over $1,000,000 where the owners owe more than they paid.
Asking Price: $2,595,000
Address: 1120 Main Street, Huntington Beach, CA 92648
BTW, I have been quoted over at Huntington Homes concerning HELOC availability.
Read the rest of this entry »Turtle Ridge is the only place in America where people actually believe their properties have appreciated 60% since late 2004. The sun is shining on Shady Lane.
Asking Price: $2,200,000
Address: 27 Shady Lane, Irvine, CA 92603
My guest blogging at Irvine Homes continues with Irvine neighborhood profile: University Park.
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