Closed Sales from 10/11/2012 to 10/17/2012

Date Sold Address Zip Tract Sold Price Beds Sq Ft
Airport Area
10/11/12 2354 Watermarke Pl 92612 Watermarke $250,000 1 842
10/15/12 2357 Watermarke Place 92612 $269,000 1 844
10/17/12 21 Gramercy 92612 Belvedere $675,759 2 1770
El Camino Real
10/11/12 6 Santa Fe 92604 Heritage Park $425,000 3 1639
10/11/12 5042 Kron 92604 Ranch $645,000 4 2500
Northpark
10/11/12 35 Bella Rosa 92602 Rutherford $870,000 3 2600
10/11/12 36 Malibu 92602 Huntington Collection $1,315,000 4 3500
10/15/12 76 Burlingame 92602 Brisbane $450,000 2 1670
10/15/12 14 Evensen 92602 Vintners Reserve $630,000 3 1858
10/15/12 8 Del Mar 92602 Tiburon $575,000 3 1601
10/17/12 10 Zuma 9 92602 Vintners Reserve $690,000 3 2400
Northwood
10/11/12 95 Huntington 92620 Horizon $258,000 2 1016
10/12/12 29 Wedgewood 92620 Lexington I $950,000 5 2680
10/15/12 19 Colonial 92620 Woodside II $660,000 3 1884
10/15/12 8 Buchanan 92620 Courtside $660,000 4 2200
10/15/12 127 Cartier Aisle 92620 Northwood Villas $388,800 2 1279
10/16/12 29 Rossano 92620 Vista Filare $499,000 2 1425
10/17/12 6 E Trenton 92620 Woodcrest $908,000 4 2965
10/17/12 15 Columbus 92620 Northwood Place $640,000 3 1780
Oak Creek
10/11/12 3508 Aspen Grv 92618 Oak Park $228,000 1 900
10/15/12 6 Medlar 92618 Kenwood $930,000 4 3150
10/17/12 10 Lavender 92618 Cypress $752,000 4 2050
Portola Springs
10/16/12 33 Canoe 92618 Ironwood $570,000 3 2092
Quail Hill
10/12/12 258 Dewdrop 92603 Jasmine $410,000 2 1330
Rancho San Joaquin
10/15/12 8 Viejo 92612 RSJ Townhomes $514,000 3 1819
Turtle Ridge
10/11/12 17 SHADE TREE 92603 Canyon's Edge $840,000 2 2000
10/15/12 35 Tall Hedge 92603 Ledges $1,750,000 4 2825
Turtle Rock
10/12/12 31 Morning Glory 92603 Ridge Townhomes Peters $1,040,000 3 2700
10/12/12 5 Starlight 92603 Ridge – Irvine Pacific $869,900 3 1973
10/12/12 24 Morning Breeze 92603 Ridge Garden Homes $655,000 2 1568
10/15/12 23 Highland Vw 15 92603 Highlands Townhomes $515,000 2 1600
University Park
10/12/12 16 Tahoe 92612 Park Crest $531,000 2 1540
10/15/12 21 Chicory Way 92612 Hanover $541,000 3 1493
10/15/12 29 Acacia Tree Ln 92612 Village III (Village Park) $540,000 3 1560
10/15/12 20 Gillman St 92612 Chancellor $625,000 3 1684
Walnut
10/11/12 27 NEW JERSEY 92606 Revere $710,000 5 2200
10/12/12 213 Kensington Park 22 92606 0 $430,000 3 1700
10/15/12 7 Georgia 92606 Harvard Square $689,000 5 2185
West Irvine
10/11/12 7 Calais 92602 Concord $850,000 5 3103
10/11/12 60 Autumn 92602 Summerplace $552,000 3 1905
Westpark
10/11/12 19 Las Cruces 92614 Vista West Park $690,000 3 1821
10/15/12 403 Tropea Aisle 92606 Brio $358,900 2 1028
Woodbridge
10/11/12 59 Lakeview 22 92604 Arborlake $860,000 3 2044
10/12/12 388 E Yale Loop 1 92614 Garden Estates $430,000 2 1323
10/17/12 73 Weepingwood 40 92614 Parkview $365,000 2 1132
Woodbury
10/16/12 50 TALISMAN 92620 Santa Barbara $415,000 2 1165
10/15/12 106 Peony 92618 Monterey $600,000 3 1878

Discuss on Talk Irvine: http://www.talkirvine.com/index.php/topic,3214.0.html

Open House Review: 27 Ensueno West

Today, I stumbled upon 27 Ensueno West, an older but remodeled home not too far from where I live.

The basics:

Asking Price: $849,900

Bedrooms: 4 + loft

Bathrooms: 2.5

Square Footage: 2500

Lot Size: 5,050

$/Sq Ft: $340

Days on Market: 14

Property Type: Single Family Home

Year Built: 1978

Community: Northwood – Park Place

HOA dues are $85 per month and there are no Mello Roos taxes.

I have been inside other houses of this same model many times, so I already knew the layout and was curious to see what upgrades had been made. The first thing I noticed was attractive wood flooring throughout most of the house. The living room is immediately to the right upon entry and, oddly, is the only room in the house with carpet. It is new, but it’s Berber, which I don’t like and it seemed out of place since no other rooms are carpeted. The living room has vaulted ceilings and is painted a nice shade of yellow. The room is also sunken one step from the hallway and dining room, which is immediately behind it. The dining room is painted dark red and is more spacious than other dining rooms in the same tract.

At the back of the house, the kitchen is to the right and the family room to the left. The kitchen has been fully remodeled with high end, stainless steel appliances and granite countertops. A huge island in the middle doubles as a breakfast bar/dining table, though it only has seating on one side. All of the wall space is covered in various shades of small bluish-gray tiles. The cupboards are white, providing a nice contrast to the dark granite, tiles and steel. With ample counter, cupboard and drawer space, the only thing missing is a large pantry.

Down one step from the kitchen is the family room. It has a white brick fireplace and white mantel, with a sliding door out to the backyard.

Also downstairs is a half bath that has new fixtures, paint and wainscoting, but original counter and cabinets. A small laundry room (no sink) sits between the bathroom and the two-car garage.

Upstairs, there are four bedrooms and a loft. All of the rooms share the same wood flooring as downstairs. The three secondary bedrooms line up along the back of the house. One room is slightly larger than the other two and has bigger closet, but they are all pretty comparable. One has a large curtain instead of closet doors. The rooms all share a bathroom that hasn’t been remodeled at all. It has one sink and a tub/shower combo with older tile. While it is in good condition, the gold fixtures and outdated tile definitely show their age.

The loft overlooks the living room. It has two ceiling fans and a dark blue accent wall (the rest is painted beige like the upstairs hallway). The current owners have it set up as a gorgeous office, though I have seen it used as a playroom in other homes of the same model.

The master bedroom is fairly large with space for a small sitting area in addition to the bedroom furniture. It has three windows facing the front of the house, a ceiling fan, and a mirrored walk-in closet. The bathroom has been partially remodeled. The espresso colored vanity is new, with two sinks, brushed nickel fixtures, and lighted mirrors. The surrounding walls are covered in small gray tiles. However, the shower (which is in a separate room), hasn’t been remodeled at all. It has the original white tiles and old metal doors.

The backyard is a good size for the neighborhood, with a large grassy area and a patio. The house is near the end of a quiet cul-de-sac. A walk two blocks down a quiet greenbelt takes you to the large community swimming pool, clubhouse, and Santiago Hills Elementary School.

The biggest drawbacks to the house are that the windows are original and the bathrooms are mostly not remodeled. I also don’t like the step down into the living room and family room. Otherwise, it’s been beautifully updated and is in a good location. I think it’s a little overpriced. The sellers are looking to move quickly and would prefer a short escrow, so I would think a lower offer might be accepted.

Discuss on Talk Irvine: http://www.talkirvine.com/index.php/topic,3211.0.html

Irvine Housing by the Numbers – October Update

Here is an updated list of the housing numbers for each of Irvine’s neighborhood. Woodbury is still notable for having mostly year-over-year decreases this year. And after a mostly upward yearly trend, Turtle Rock has a 19% decrease in the year-over-year price per square foot.

Area

List Price/# Homes Listed

Sold Price/# Homes Sold

List Per SF

Sold Per SF

% Chg Y-O-Y Sold Price/SF

Airport/IBC

12-Sep

12-Aug

12-Jul

12-Jun

12-May

$787K/42

$520K/23

$594K/27

$511K/32

$459K/41

$370K/16

$431K/23

$468K/18

$328K/30

$514K/19

$399

$382

$406

$380

$356

$326

$328

$312

$312

$325

2.2%

13.5%

1%

-3.4%

5.90%

12-Apr

$442K/48

$340K/25

$350

$304

-5.90%

12-Mar

$415K/45

$412K/16

$348

$346

11.60%

12-Feb

$392K/48

$330K/15

$337

$288

-11.70%

12-Jan

$374K/52

$327K/18

$332

$317

-17%

Columbus Grove

n/a

El Camino

12-Sep

12-Aug

12-Jul

12-Jun

12-May

$540K/18

$600K/21

$624K/10

$579K/24

$555K/19

$399/19

$490/21

$455K/9

$504K/13

$435K/19

$380

$359

$408

$392

$365

$272

$334

$359

$327

$280

-21.4%

-7%

16.6%

16%

-17.2%

12-Apr

$572K/22

$458K/12

$329

$239

-22.10%

12-Mar

$546K/22

$468K/10

$329

$327

3.80%

12-Feb

$467K/26

$340K/5

$339

$281

-6.60%

12-Jan

$462K/28

$389K/6

$322

$267

-28.40%

Northpark

12-Sep

12-Aug

12-Jul

12-Jun

12-May

$870K/37

$809K/48

$844K/48

$774K/50

$700K/59

$460K/25

$488K/40

$540K/31

$460K/35

$438K/35

$333

$333

$348

$351

$329

$298

$289

$289

$297

$278

2.1%

-2.7%

-10%

1.4%

-7.3%

12-Apr

$649K/51

$390K/29

$339

$283

-10.04

12-Mar

$674K/50

$465K/36

$341

$281

-8.80%

12-Feb

$459K/74

$415K/13

$301

$280

-9.40%

12-Jan

$465K/91

$412K/19

$290

$277

-20.90%

Northwood

12-Sep

12-Aug

12-Jul

12-Jun

12-May

$777K/44

$735K/51

$727K/52

$692K/62

$697K/52

$518K/26

$612K/38

$650K/22

$525K/27

$584K/32

$341

$322

$323

$316

$314

$314

$317

$340

$295

$267

4.7%

7.1%

9%

-8.1%

-13%

12-Apr

$599K/59

$579K/30

$312

$310

5.10%

12-Mar

$519K/61

$518K/20

$316

$301

-1.60%

12-Feb

$504K/66

$292K/13

$300

$287

-7.10%

12-Jan

$489K/78

$518K/17

$286

$292

-7.60%

Oak Creek

12-Sep

12-Aug

12-Jul

12-Jun

12-May

$542K/16

$644K/16

$576K/12

$720K/19

$579K/17

$476K/8

$433K/16

$338K/12

$216K/10

$240K/8

$351

$328

$330

$330

$333

$310

$327

$288

$216

$281

-0.6%

-3.5%

-10.6%

-21.1%

-1.7%

12-Apr

$530K/19

$628K/14

$303

$315

5.90%

12-Mar

$425K/27

$284K/14

$309

$292

-1.40%

12-Feb

$487K/26

$267K/13

$317

$267

-15.80%

12-Jan

$350K/33

$249K/9

$308

$261

-20.40%

Orange Tree

12-Sep

12-Aug

12-Jul

12-Jun

12-May

$280K/6

$320K/3

$257K/2

$250K/3

$280K/3

0

$184K/2

$279K/4

$181K/6

$145K/2

$356

$289

$311

$307

$307

n/a

$214

$265

$251

$261

n/a

-41.5%

-23%

-10%

6.1%

12-Apr

$278K/6

$165K/1

$256

$203

-31.90%

12-Mar

$245K/9

$189K/6

$253

$279

4.10%

12-Feb

$242K/6

$200K/6

$249

$230

-33.50%

12-Jan

$216K/12

$205K/5

$252

$249

-13.50%

Portola Springs

12-Sep

12-Aug

12-Jul

12-Jun

12-May

$639K/22

$640K/26

$639K/33

$622K/31

$660K/23

$621K/13

$571K/11

$631K/12

$724K/8

$582K/13

$319

$324

$325

$321

$335

$322

$283

$317

$308

$284

1.3%s

-5.4%

1%

-4%

-4.10%

12-Apr

$693K/30

$596K/11

$330

$299

-11%

12-Mar

$639K/25

$950K/5

$325

$320

11.90%

12-Feb

$641K/31

$510K/1

$317

$249

-12%

12-Jan

$623K/43

$570K/7

$321

$293

1.40%

Quail Hill

12-Sep

12-Aug

12-Jul

12-Jun

12-May

$625K/15

$630K/15

$625K/13

$647K/14

$714K/18

$450K/7

$600K/12

$885K/8

$586K/12

$465K/13

$384

$392

$361

$373

$376

$325

$392

$389

$375

$347

-3.8%

11.4%

21.6%

8.1%

-13.0%

12-Apr

$749K/17

$863K/6

$373

$374

7.50%

12-Mar

$500K/21

$505K/9

$360

$317

-3.10%

12-Feb

$515K/21

$470k/6

$364

$307

-10.80%

12-Jan

$560K/20

$512K/8

$324

$326

-13.30%

Rancho San Joaquin

12-Sep

12-Aug

12-Jul

12-Jun

12-May

$485K/3

$449K/4

$509K/3

n/a

$475K/5

$495K/2

$460K/3

$433K/2

$410K/2

$346

$339

$320

$313

$336

$307

$269

$306

13.9%

-9.7%

-6.3%

-2%

12-Apr

n/a

12-Mar

$465K/5

$500K/2

$246

$296

n/a

12-Feb

$492K/6

$360K/1

$297

$336

n/a

12-Jan

n/a

Shady Canyon

12-Sep

12-Aug

12-Jul

12-Jun

12-May

$6,142K/24

$6,922K/26

$6,000K/27

$5,998K/26

$6,000K/25

$4,390K/2

$3,124K/4

$4,555K/3

$3,700K/3

$4,019K/6

$752

$770

$760

$761

$705

$748

$561

$586

$552

$673

19.7%

-3.9%

15.4%

-10%

30.70%

12-Apr

$5,995K/23

$4,875K/4

$720

$512

-6.10%

12-Mar

$5,980K/21

$4,436K/4

$720

$657

28.80%

12-Feb

$5,995K/23

$3,200K/3

$725

$603

7.50%

12-Jan

$5,980K/23

$2,670K/5

$720

$534

24.20%

Turtle Ridge

12-Sep

12-Aug

12-Jul

12-Jun

12-May

$1,750K/19

$1,825K/21

$1,848K/25

$1,875K/27

$1,749K/31

$1,875K/8

$1,950K/9

$1,440K/12

$1,360K/11

$1,044K/8

$589

$567

$571

$570

$545

$525

$504

$510

$467

$459

9.1%

22%

14.9%

4.7%

0.10%

12-Apr

$1,724K/28

na/8

$533

$421

5.20%

12-Mar

$1,899K/28

$1,500K/7

$550

$485

-8.30%

12-Feb

$1,899K/27

$955K/4

$527

$441

18.90%

12-Jan

$1,672K/32

$532K/4

$493

$355

-25.30%

Turtle Rock

12- Sep

12-Aug

12-Jul

12-Jun

12-May

$812K/24

$825K/27

$837K/32

$865K/37

$939K/37

$790K/10

$932K/14

$975K/10

$915K/20

$730K/9

$396

$399

$421

$457

$454

$406

$465

$451

$446

$410

-19%

14.8%

19.3%

3.2%

3.3%

12-Apr

$986K/43

$1,050K/5

$457

$461

10.30%

12-Mar

$967K/40

$690K/11

$448

$381

17.60%

12-Feb

$1,024K/38

$1,422K/4

$457

$559

14.30%

12-Jan

$974K/40

$545K/8

$458

$295

-14.20%

University Park

12- Sep

12-Aug

12-Jul

12-Jun

12-May

$660K/11

$631K/8

$699K/7

$599K/12

$602K/12

$594K/10

$520K/12

$560K/5

$540K/10

$539K/8

$324

$359

$331

$345

$346

$323

$333

$312

$333

$291

-5%

6.1%

-9%

6.4%

6.20%

12-Apr

$609K/11

$538K/7

$352

$272

-15%

12-Mar

$552K/14

$431K/6

$288

$305

-5.60%

12-Feb

$578K/14

$555K/4

$297

$286

9.60%

12-Jan

$595K/14

$420K/7

$289

$281

-10.80%

University Town Center

12- Sep

12-Aug

12-Jul

12-Jun

12-May

$489K/2

$355K/3

$435K/10

$440K/7

$440K/5

$365K/5

$411K/4

$430K/6

$295K/2

$450K/5

$393

$399

$368

$384

$371

$344

$333

$316

$322

$311

13.9%

9.9%

-10%

17.1%

6.90%

12-Apr

$340K/3

$375K/5

$338

$326

6.90%

12-Mar

$455K/7

$478K/4

$298

$321

1.90%

12-Feb

$347K/6

$384K/1

$342

$265

-19.50%

12-Jan

$467K/10

$480K/1

$330

$315

n/a

Walnut

12- Sep

12-Aug

12-Jul

12-Jun

12-May

$582K/8

$630K/8

$626K/14

$659K/5

$628K/5

$597K/6

$575K/4

$528K/1

$540K/5

$595K/5

$340

$330

$330

$307

$309

$298

$303

$321

$280

$314

2.4%

-1.3%

-4.2%

-9.4%

14.6%

12-Apr

$532K/3

$580K/5

$313

$306

-1%

12-Mar

$619K/5

$635K/3

$327

$300

3.40%

12-Feb

$600K/5

$509K/3

$316

$310

-9.40%

12-Jan

$600K/11

$596K/4

$298

$259

-12.80%

West Irvine

n/a

Westpark

12- Sep

12-Aug

12-Jul

12-Jun

12-May

$690K/13

$558K/12

$615K/11

$823K/13

$628K/5

$662K/8

$740K/5

$480K/3

$670K/4

$595K/5

$352

$357

$329

$360

$309

$334

$345

$291

$318

$314

11%

6.2%

-20.3%

-10.4%

14.60%

12-Apr

$624K/14

$651K/8

$360

$304

-10.30%

12-Mar

$565K/17

$615K/10

$319

$331

-2.50%

12-Feb

$649K/21

$506K/6

$319

$361

21.50%

12-Jan

$552K/20

$695K/2

$331

$356

-11.20%

Woodbridge

12- Sep

12-Aug

12-Jul

12-Jun

12-May

$660K/37

$678K/34

$625K/37

$570K/39

$586K/50

$518K/26

$475K/30

$500K/33

$508K/36

$430K/25

$348

$352

$350

$357

$350

$309

$310

$318

$340

$307

3.7%

-3.1%

3.2%

8.6%

-6.40%

12-Apr

$554K/68

$422K/29

$347

$289

-8%

12-Mar

$494K/68

$345K/31

$339

$283

-9.30%

12-Feb

$459K/83

$399K/23

$328

$312

-4.90%

12-Jan

$435K/93

$402K/15

$317

$273

-6.20%

Woodbury

12- Sep

12-Aug

12-Jul

12-Jun

12-May

$915K/18

$732K/27

$845K/25

$823K/30

$872K/24

$535K/11

$480K/9

$452K/9

$470K/15

$650K/11

$353

$326

$353

$359

$363

$328

$305

$295

$316

$310

-1.2%

0%

3.5%

-5.4%

-3.40%

12-Apr

$784K/30

$475K/14

$357

$291

-9.30%

12-Mar

$680K/35

$678K/21

$334

$289

0%

12-Feb

$650K/33

$419K/8

$330

$298

-4.70%

12-Jan

$611K/44

$460K/8

$314

$292

-16.80%

Source: Redfin.com (http://www.redfin.com/home)

Open House Review: 164 Weathervane

Quail Hill CloseUp

164 Weathervane $1,399,000

Awhile ago I reviewed two Quail Hill condo open houses. Both condos were sleek and compact, sitting in the midst of a park-like world, just minutes away from the 405 Freeway and Laguna Canyon.

Now I was headed to Quail Hill to see a single family home, 164 Weathervane, a two level Tuscan style home that just came on the market.

Looking at the numbers, this home was built in 2004. It has 3,000 square feet in a two level floor plan with 4 bedrooms, and 4.5 baths. The lot size is 5,294. $/sq. ft is $456. HOA dues are $252 month. It has Mello Roos tax.

Close-up: Turning onto the cul de sac and heading up the hill, this home sits at the top on the left, next to the rolling greenbelt park. From the dramatic sweep of the greenbelt to the ornate gate and entrance, a lot of positives click as you enter this home.

Inside, elegance, ease and thoughtful function are all dialed into an open floor plan. The entrance opens to a luxe living room on the left with a formal dining room on the right. Hardwood, travertine tile and carpet all work well here, along with many windows and recessed lighting.

Throughout the home there are all sorts of space options that will allow the buyers to tailor the house to their lifestyle and priorities.

Moving through the hall a “great room” with a view of the greenbelt/park provides the family room with fireplace, kitchen with breakfast bar, built in desk unit, and casual dining area overlooking the back yard and covered patio.

This area can easily do double duty, handling a major part of the family’s daily activities, and then rolling out a super party with the overflow heading for an impressive backyard with covered patio, brick wall and wrought iron fencing.

The kitchen has granite counters and stainless appliances with an island counter. There is also a bedroom and bath on the main floor.

Upstairs there is an open staircase with loft, master bedroom with retreat, which could become two rooms, and bath that includes a tub with jets, plus the other bedrooms.

Specifics for this Single Family Home:

Bedrooms, 4

Baths, 4 full, 1 partial bath

3,000 sq. ft.

Lot size,

Built in 2004

Detached/no common walls

Double garage

Two parking spaces

Stone and stucco exterior

Roof: clay tile

Forced air heating

Central air

Association pool, spa

Irvine School System

Considerations and Comparisons: This home is a standard sale that’s new to the market. Its prime location, age, award winning schools and superb recreation facilities will all be factored in with the price and the number of properties currently available.

Who will move into this Quail Hill home? A family who values open areas and wants top schools will be attracted to this spacious home. Couples with extended families, or frequent guests, will be drawn to all of the home’s assets, and easy access to Orange County’s urban attractions, beaches and services.

Recent sales: 7 Stillwater, $1,220,000 in June; 1 Bluff Vw, $149,000 in April; Recent listings: 144 Treehouse, $1,049,000; 121 Lattice, $1,188,000.

Discuss on Talk Irvine: http://www.talkirvine.com/index.php/topic,3204.0.html

Dollhouses of Irvine

Over the weekend, I assembled a dollhouse for my daughter. It's a tri-level beauty. Kitchen, dining room and patio on the first floor. Living room/ Family room on the second floor. Bedroom with a small Juliette's balcony on the third floor. As I tightened the final screw on the roof, and stepped back to marvel at the end product, the first thing that came to my mind were the multilevel Irvine condominiums. When we were house hunting, our Realtor showed us a few of those cardio-masterpieces. How are they doing now? Let's take a look.

Entry and garage, an optional second bedroom on the first floor, living/dining/laundry /kitchen/deck and little technology space tucked in a corner make up the second floor, and third floor has the master suite. Just like a dollhouse, the 'Jasmine' homes come with all bells and whistles.

31 Flower Bud, Irvine CA 92603

Listing Price: $440,000 (Short Sale)

Beds/ baths: 2 bedrooms/ 2.5 bathrooms

Area: 1426 SF

Village: Quail Hill

Builder Tract Name: Jasmine

Builder Tract Code: JASM

Last Sale: $590,000 in June 2007 (that last sip of cool-aid!)

HOA Dues: $108 according to the listing

(But I think this property has two HOAs, $110+$186)

Mortgage/Month at 3.5: $1630

Property taxes: $4620 Annually

Mello Roos: $1820 Annually

Fixed Monthly Expenses: $2,462 Monthly

Sales history for similar houses in 2012:

45 Flowerbud $302/SF

54 Vermillion $325/SF

28 Perennial $318/SF

312 Dewdrop $303/SF

66 Vermillion $347/SF

205 Dewdrop $310/SF

50 Vermillion $340/SF

254 Dewdrop $318/SF

Also, here is a sales history of the year where cool-aid and its potential side effects were identified, but everybody thought their little nest was immune:

231 Dewdrop $448/SF

55 Flowerbud $485/SF

78 Dovetail $480/SF

50 Perennial $490/SF

92 Dovetail $464/SF

224 Dewdrop $475/SF

34 Dovetail $541/SF

36 Vermillion $483/SF

240 Dewdrop $450/SF

47 Flowerbud $414/SF

38 Vermillion $438/SF

The “Jasmines' have lost more than a $100/SF in the past six years. The property I have showcased in the blog today has lost 25% of its value. No wonder people are walking out on their properties. With lending rules a little relaxed and the record low mortgage rates, these properties will also get their due, and recover some of their losses in the next few years. But deflation and slow recovery of the job market will hold the prices back.

How did the housing bubble and the subsequent burst affect you?

Do you own a property that has lost more than 25% of its value?

Did you sell at the peak and lock in the profits?

Discuss below or at Talk Irvine.