This property was already the low-price leader in Irvine, but it must not have been low enough. The listing prices has been reduced to $114,900.
Yesterday, when I described the ratings of properties and the cashflow levels to which they should fall, I mentioned that the bottom of the Irvine market is defined by condos that only make sense as a cashflow rental. Today’s featured property is one of those.
Asking Price: $149,900
Address: 338 Streamwood, Irvine, CA 92620
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We are the Irvine Housing Blog, and during the week, I focus exclusively on Irvine properties. However, the weekends I leave open for exploration. If I am particularly inspired (and ambitious), I will do more than provide an open thread. This weekend, I was inspired.
Asking Price: $3,675,000
Address: 501 S Rossmore Ave., Los Angeles, CA 90020
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Today’s post began as an email exhange between me an OC Progressive. He has analyzed the impact of the loss of mortgage equity withdrawal on the local economy. What he found is remarkable.
Asking Price: $635,000
Address: 21 S Caraway, Irvine, CA 92604
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One of the biggest myths of the real estate bubble is that responsible homeowners are losing their homes; they are not.
Today’s featured property is owned by HELOC abusers who already took out almost $900,000, and now they want $400,000 more.
Asking Price: $1,629,000
Address: 6326 Sierra Elena Road, Irvine, CA 92603
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Rent skimming is becoming more common in Irvine as floplords succumb to the financial pressures of crushing mortgage payments and collapsing home prices. Do we need to change our laws regarding these transactions?
Today’s featured property is a short sale that was offered for rent not long ago.
Asking Price: $525,000
Address: 23 Muir, Irvine, CA 92620
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Do you think the lenders and investors are stupid enough to give Californians several hundred billion dollars without getting paid back? I bet they won’t get fooled again.
Today’s featured property is another HELOC abuser that hopes she has some equity left.
Asking Price: $599,000
Address: 4292 Manzanita, Irvine, CA 92604
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Today I want to share with you an email from a long-term HOA board member. It is a warning of the perils of buying into the wrong association.
Our featured property is another house spender. I suspect I will not run out of these properties to profile before we find a bottom.
Asking Price: $670,000
Address: 74 Turnbury Lane, Irvine, CA 92620
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