Irvine Housing Blog

Big Balls

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.

Irvine’s Future REO Inventory

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.

HELOC Abuse Huntington Beach Style

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.

I Gotta Wear Shades

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.

They Didn’t Spend It

In a competitive society like ours, there are winners and losers. The people who bought before the bubble, did not HELOC their home, and are selling in time to cash in that bubble equity are the winners. Let's celebrate them today.

Asking Price: $747,500

Address: 14811 Mayten Ave, Irvine, CA 92606

BTW, I am guest contributing to the Irvine Homes blog this week. Today's post is a community profile on Woodbridge.

Firesale

Some lenders are now accepting bids on short sales to spare them the hassles and expense of a foreclosure. Some of these firesale prices--at least by today's standards--are resulting in sales. Will this one?

Asking Price: $529,000

Address: 4142 Fireside Circle, Irvine, CA 92604

BTW, in case you missed it yesterday, the IHB is mentioned in Huntington Homes: Surf City home-equity ‘abuse’: ‘So many you can’t believe it’.

Desert Willow Did Not Fall?

When the market turned in the summer of 2006, Columbus Grove dropped precipitously. The owner of today's featured property missed that memo.

Asking Price: $1,249,000

Address: 14 Desert Willow, Irvine, CA 92606

BTW, the IHB is mentioned in Huntington Homes today. Surf City home-equity ‘abuse’: ‘So many you can’t believe it’