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Do the Top Five Trends in Today’s Real Estate Market Apply to Irvine?

Jul 24th, 2014 by Sylvia Walker 

“The Healthy City Healthy Planet initiative is an affirmation of Irvine’s long-held commitment to health, fitness, well-being and the sustainability of our community.

Through the integration of multiple practices into all aspects of City planning and the delivery of municipal services, we are actively supporting the health of our City, our citizens and our planet on a daily basis."City of Irvine, Healthy City Healthy Planet webpage

Now and then, it is helpful to zoom out and take a look at the larger picture. And then zoom back in to see how that applies at home. That is what we are going to do in today’s post. We are going to take a look at what panelists and speakers at the 48th conference of National Association of Real Estate Editors said are the top five trends in today’s real estate market. They point out that being aware of these trends and adjusting your buying or selling strategy to take advantage of these trends will be beneficial whether you are planning on being a buyer or seller in today’s real estate market.

You can answer for yourself if you think that these trends apply to Irvine’s current real estate market—and, if Irvine is a healthy city that contributes to a healthy planet.

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A Look at Some Housing Stats for Irvine and Surrounding Cities: July 2014

Jul 16th, 2014 by Sylvia Walker 

Here are some housing market statistics for Irvine and some surrounding cities. When I reviewed these numbers, two points stood out. First, the average down payments for houses in Lake Forest and Santa Ana have increased greatly from the numbers of about a month ago. Second, when compared to numbers from about this time last month, the number of homes that sold in every one of these cities has increased.

The following numbers are for the ninety days that precede July 11.

Area Median List Price Median Sale to List Price Avg # of Offers Avg Down Payment # Homes Sold
Irvine $799,000/
$429 per SF
98.50% 2 21.70% 641
Lake Forest

$640,000/
$343 per SF

98.40% 2.3 49.60% 257
Tustin $650,000/
$369 per SF
98.20% 2.4 21.00% 185
Orange $649,000/
$345 per SF
98.50% 2.4 15.10% 350
Santa Ana $515,000/
$340 per SF
98.50% 2.2 39.30% 463
Costa Mesa $729,000/
$440 per SF
98.60% 1.5 15.00% 225
Newport Beach $2,225,000/
$927 per SF
96.30% 3 48.80% 371
Orange County $699,000/
$373 per SF
  98.3%  2.5 23.90% 7,790

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Irvine Housing Overview: Condos and Houses—May 2014

Jul 9th, 2014 by Sylvia Walker 

Below are numbers provided by Redfin for Irvine’s May housing market. (Note: The June number will be available in a few days.) The numbers are broken down so that the statistics for condos and houses can be seen.

At our last look at these numbers, a lot more homes in all categories sold in April than was true earlier this year, and more homes were on the market in April than was true earlier this year. The May numbers show the number of homes on the market is continuing to rise; however, the number of homes sold has slowed down.

Also note that Altos Research states that the Market Action Index (MAI) for Irvine’s single-family housing market was 37.08 on June 27, 2014. According to Altos, above 30 indicates a sellers’ market, below 30 indicates a buyers’ market.

Following is Irvine’s 2014 housing market data as provided by Redfin.

Type List Price/# Homes Listed Sold Price/# Homes Sold List Per SF Sold Per SF % Chg Y-O-Y Sold Price/SF
Houses          
14-May $1,060K/334 $895K/100 $444 $448 8.50%
14-Apr $1,096K/270 $900K/97 $447 $440 11.70%
14-Mar n/a n/a n/a n/a n/a
14-Feb $1,090K/203 $905K/57 $451    $420    10.50%
14-Jan $1,082K/170 $832K/62 $461    $429    22.20%
           
Condos          
14-May $590K/332 $570K/125 $413 $402 5.20%
14-Apr $590K/310 $550K/125 $411 $394 4.50%
14-Mar n/a n/a n/a n/a n/a
14-Feb $599K/248 $560K/80 $406    $395    13.50%
14-Jan $603K/226 $626K/58 $406    $392    20.60%
           
All          
14-May $788K/704 $722K/238 $422 $421 7.40%
14-Apr $778K/618 $678K/247 $425 $409 7.60%
14-Mar $799K/487 $680K/na $435    $407    n/a
14-Feb $745K/479 $665K/145 $421    $400    10.50%
14-Jan $412K/422 $688K/130 $422    $412    23.40%

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IRWD Indoor Water-Use Rebates

Jul 2nd, 2014 by Sylvia Walker 

“Together, toilets and clothes washers account for approximately 45% of the water used inside your home.”

Last week I wrote about rebates for outdoor water-saving devices. Since about 70% of California water use goes to home landscaping, saving water in this area can greatly cut down on residential water use and, therefore, cut down on energy use and homeowner costs. This week’s post is about rebates for two standard, high-water using items in all homes—clothes washers and toilets. These rebates will also help homeowners save water, energy, and money.

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IRWD Rebates for Outdoor Water-Saving Devices

Jun 25th, 2014 by Sylvia Walker 

Since up to 70% of California's residential water supply is used for home landscaping, installation of outdoor water-saving devices can help homeowner save water and money. Here are some IRWD rebates that will help homeowners reduce outdoor water use.

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Irvine Housing Numbers by Neighborhood: First Trimester 2014

Jun 24th, 2014 by Sylvia Walker 

Here is a look at some Irvine housing stats by neighborhood—January 2014 and April 2014:\

Area List Price/# Homes Listed Sold Price/# Homes Sold List Per SF Sold Per SF % Chg Y-O-Y Sold Price/SF
Airport/IBC          
14-Apr $564K/72 $660/23 $463 $380 1.10%
14-Jan $620K/55 $645K/11 $433 $398 20.20%
           
Columbus Grove n/a        
           
El Camino Real          
14-Apr $555K/23 $624K/12 $430 $488 24.20%
14-Jan $669K/19 $610K/8 $416 $445 21.90%
           
Northpark          
14-Apr $710K/70 $640K/29 $394 $387 13.50%
14-Jan $745K/47 $494K/11 $396 $368 16.10%
           
Northwood          
14-Apr $749K/92 $765K/45 $406 $384 2.10%
14-Jan $793K/54 $736K/18 $397 $379 20.70%
           
Oak Creek          
14-Apr $469K/24 $475K/8 $399 $404 12.50%
14-Jan $387K/18 $625K/5 $423 $438 29.60%

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Irvine Housing Overview: Condos and Houses—April 2014

Jun 11th, 2014 by Sylvia Walker 

Below are numbers provided by Redfin for Irvine’s April housing market. The numbers are broken down so that the statistics for condos and houses can be seen. Note that a lot more homes in all categories sold in April than was true earlier this year. Also, more homes were on the market than was true earlier this year.

Also note that Altos Research states that the Market Action Index (MAI) for Irvine’s single-family housing market was 38.88 on May 30, 2014. 

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