The price on this property is now under $6,000,000. The owner is asking $1,000,000 less than what was paid.
Real estate is notoriously illiquid. When you want to sell it, there is not always a buyer there to unchain it from your ankle.
Today’s featured property is looking at a potential million dollar loss.
Asking Price: $6,495,000
Address: 29 Blue Grass, Irvine, CA 92603
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Turtle Rock is the one neighborhood I least expect to see dramatic price declines; however, this does not mean it is not immune to the pressures of the market.
Asking Price: $949,000
Address: 2 Sarena, Irvine, CA 92612
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Many people seem to think the housing market will recover when the economy does. The economy is not the cause of problems in the housing market, and economic recovery will not save the housing market.
The rollbacks keep getting going further back in time. We are now seeing rollbacks of 2003 pricing more frequently.
Asking Price: $380,000
Address: 143 Stanford Court #36, Irvine, CA 92612
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The North Korean Towers are still dark at night. Prices are still falling and equity is still burning. Even with the huge price reductions, asking prices are still well above fundamental valuations. These units are perhaps the most toxic assets in Orange County.
Asking Price: $430,000
Address: 3131 Michelson #802, Irvine, CA 92612
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Much has been written about the “Lost Decade” in the Japanese economy. In the 90s they faced the same decisions we face today, and we appear to be making the same mistakes.
Today’s featured property is a condo being offered for 55% off its peak purchase price; a new record for Irvine. It is our first 2001 price rollback.
Asking Price: $149,900
Address: 76 Lakepines, Irvine, CA 92620
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Despite the system-wide economic collapse, many in Irvine think their houses have not declined in value.
The owners of today’s featured property are asking what the paid at the peak. They like dreamin’...
Asking Price: $1,185,000
Address: 19 Stonebrook, Irvine, CA 92620
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Market chasers are at odds with their own emotions. Do they want to sell? Or do they want to get rich? It is quite a quandary.
Our featured property was first for sale 2 years ago at a price 20% higher.
Asking Price: $564,800
Address: 1 Fern Canyon, Irvine, CA 92604
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