Posted: 24 Sep 2012 06:00 AM PDT
As we end the Summer of 2012, we all noticed that things didn’t turn as sour as predicted for Irvine. Inventory is at its lowest, hitting new lows with every passing month. Mortgage rates have followed the same trend, hitting the lowest of the lows and promising to stay so for a while to aid recovery. What will this mean to Irvine market in future, we are not sure.
Here is the Condos Price/ SF chart for the past year in the zip code 92602:
Here is a relisted property in West Irvine, one of the few areas in Irvine that saw a huge swing in listing and sale prices in the past year.
Listing Price: $470,000
Here is a brief sales history for Mandeville houses in 2012:
01/19 163 Topaz $274/SF
Now sales pending:
Comparable condominium from the Village of Northwood in Irvine:
Here is the Listing Price/ Sold Price graph for Northwood condos (92620):
Listing Price: $499,000
Fixed Monthly Expenses: $2577
Would you buy now, or wait for the temporary low interest rate frenzy to subside?
Discuss at Talk Irvine: http://www.talkirvine.com/index.php/topic,3133.0.html
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