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Irvine Housing Overview: Condos and Houses—July 2014

Aug 13th, 2014 by Sylvia Walker 

Below are numbers provided by Redfin for Irvine’s July housing market. The numbers are broken down so that the statistics for condos and houses can be seen. The number of homes on the market in Irvine appears to be leveling off. And the number of homes sold has decreased when compared to previous months this year.

Also note that Altos Research states that the Market Action Index (MAI) for Irvine’s single-family housing market was 35.13 on August 8, 2014. According to Altos, above 30 indicates a sellers’ market, below 30 indicates a buyers’ market.

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What a Difference Two Months Make in Drought Stricken California—And It’s Not Good

Aug 6th, 2014 by Sylvia Walker 

“The entire state has been in severe drought since May, but more of it has since fallen into more severe categories – ‘extreme’ and ‘exceptional.’ Nearly 22% more of California was added into the exceptional drought category in the last week alone.”—Joseph Serna, “California breaks drought record as 58% of state hits driest level,” Los Angeles Times 

 “Not everybody in California understands how bad this drought is … and how bad it could be. There are communities in danger of running out of water all over the state.”— State Water Resources Control Board Chairwoman Felicia Marcus  

Intensity Levels:

Yellow - Abnormally Dry
Peach - Moderate Drought
Orange - Severe Drought
Red - Extreme Drought
Maroon - Exceptional Drought

The Drought Monitor focuses on broad-scale conditions. Local conditions may vary. See accompanying text summary for forecast statement.

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Irvine Housing Overview: Condos and Houses—June 2014

Jul 30th, 2014 by Sylvia Walker 

Below are numbers provided by Redfin for Irvine’s June housing market. The numbers are broken down so that the statistics for condos and houses can be seen. As has been true for recent months, the number of homes on the market in Irvine during June is continuing to rise. However, the number of homes sold shows a more mixed outcome.

Also note that Altos Research states that the Market Action Index (MAI) for Irvine’s single-family housing market was 35.82 on July 25, 2014. According to Altos, above 30 indicates a sellers’ market, below 30 indicates a buyers’ market.

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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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