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Irvine Shadow Inventory July 2012

Jul 20th, 2012 by zovall 

I came across a great post by irvinehomeowner on the Talk Irvine forums regarding foreclosure inventory in Irvine.

So while going through Redfin's forums I found out that ForeclosureRadar.com gives you chart pr0n for free:

http://www.foreclosureradar.com/california/orange-county/irvine-foreclosures

One of the charts that stuck out to me was this:

While the June numbers show almost 800 homes in some stage of foreclosure... it also shows 147 that are REO. Compare that to Irvine's current inventory of about 440... it becomes interesting.

Why? Because I can't find 147 REOs on Redfin (I only found 6).  EDIT: Actually... thanks to USCTrojan, it looks like the number of REOs on the MLS  is about 26... much higher than 6 but not 147... so still a significant number.

And let's talk about that 800 number... this chart is also very interesting:

 

492 days is the time it takes to foreclose? Over a year? And the banks take twice as long to resell a property than a 3rd party (265 to 126)?

Maybe there won't be a shadow inventory tsunami... but there are definitely homes that aren't being paid for and we aren't able to buy.

Thoughts? Follow along on the forum thread here:
http://www.talkirvine.com/index.php/topic,2910.0.html


Posted in Real Estate Owned

A Sampling of Homes in Irvine Without Mello-Roos Taxes

Apr 11th, 2012 by Sylvia Walker 

Last week I wrote about Lambert Ranch, Irvine’s newest development that goes on sale at the end of this month. As I mentioned in that post, the Lambert Ranch developers are departing from a trend in Irvine that has been dominant for some time. This trend is the inclusion of  Mello-Roos taxes as part of the purchase of a new home.

That got me wondering what areas in Irvine have homes available without Mello-Roos taxes. The general answer is the older areas in Irvine. But to give you a better idea of where these homes are located, following is a sample of homes in Irvine that are currently on the market that do not have Mello-Roos taxes. They may or may not have HOA fees.

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Posted in Real Estate Owned

From Squatting to Renting: Another Solution to Stabilize Housing

Sep 15th, 2010 by IrvineRenter 

Everyone has their pet ideas for saving the housing market. Today's post analyses one of the better ideas I have seen so far. 

 

Irvine Home Address ... 23 CALISTOGA Irvine, CA 92602
Resale Home Price ...... $799,900

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The Upcoming Collapse of the Banking Cartel

Sep 2nd, 2010 by IrvineRenter 

As the economy improves, lenders will start to liquidate their inventory. When they do, the lending cartel will collapse, and prices will get pushed lower. 

Irvine Home Address ... 63 CANYON Crk Irvine, CA 92603
Resale Home Price ...... $4,195,000

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Experts Say Housing No Longer Builds Wealth

Aug 26th, 2010 by IrvineRenter 

Sentiment toward owner-occupied housing is changing, and people are starting to accept that housing is not the great investment they thought it was.

 

Irvine Home Address ... 18 BAHIA Irvine, CA 92614
Resale Home Price ...... $594,900

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High End Home Prices Benefit from Lack of Inventory

Feb 9th, 2010 by IrvineRenter 

The high end has benefited from a lack of supply and low sales volumes. With lenders proceeding with foreclosure faster, we are starting to see the inventory we have been waiting for.

Irvine Home Address ... 28 WOODS Trl Irvine, CA 92603
Resale Home Price ...... $2,049,900

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IHB News 2-6-2010

Feb 6th, 2010 by IrvineRenter 

This weekend's featured property is an REO where the lender failed to drop their opening bid and grossly overpaid for the property.

Irvine Home Address ... 88 STEPPING STONE Irvine, CA 92603
Resale Home Price ...... $519,800

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