Irvine Housing Blog

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Priced to Sell? Posted: 26 Nov 2012 04:00 AM PST This West Irvine property is ready to be sold at $878,800 thirteen years after being bought at $402,500. The property is well maintained going by the MLS pictures, and the location is good. The schools – Myford Elementary School, Pioneer Middle School and Beckman High School all have excellent parent ratings and test scores, and a perfect 10 API.  The listing price is $283/SF at a time when rest of the Irvine is crossing the $350/SF mark and heading towards $400/SF. 2 Ivy Lane, Irvine CA 92602 Listing Price: $878,800 Beds/Bath: 4 Beds/ 3 Baths Area: 3,100 SF Price/ SF: $283/SF Lot Size: 5,135SF Builders Tract Name: Briarwood Builders Tract Code: BRIW Builders Model Code: 3 Is it a good deal, or is the property just keeping with rest of the West Irvine neighborhood prices? Here are similar properties listed for sale: 3 Freedom Place $300/SF 7 Parma  $362/SF 12 Proclamation Way $352/SF Here is the sales history for similar properties in the past two years: 45 Elizabeth $290/SF 38 Elizabeth Ln $271/SF 98 Briar  $270/SF 15 Elizabeth Ln $278/SF As of today, there are exactly 250 properties on sale in the Irvine market. 92602 has 24 properties listed for sale, and it’s dropped 72% from last year. Median list price is $894,000, and it’s up 79% from last year. Median listing price/SF is $348, and it’s up 17% from last year. Irvine real estate, and the 92602 area statistics have improved. Here is a chart from Zillow that shows the increase in value per square feet in Irvine, and in West Irvine: We are not close to the bubble numbers, but we didn’t follow the graphs and charts at the onset of the Great Housing Depression and head deep south.  Many walked away, but many found an opportunity to invest, and now that things appear stabilized, many more are buying. For those who bought at the peak of the real estate bubble, it might be a long road to recovery. For those who bought before 2003, there is hope that things might turn around. What do you think? Is this house priced right, or is it priced to sell? Have you bought or sold recently? Share your views. Comment below, or discuss at Talk Irvine.

Closed Sales from 11/15/2012 to 11/21/2012 Posted: 25 Nov 2012 03:40 PM PST Date Sold Address Zip Tract Sold Price Beds Sq Ft El Camino Real           11/15/12 1 Snowberry 10 92604 Deerfield Townhomes $345,000 3 1252 11/21/12 15301 Seine Cir 92604 Ranch $695,000 4 2018               Northpark             11/15/12 64 Chula Vis 95 92602 Monterey $397,700 3 1510 11/16/12 28 Bonsall 124 92602 Monterey $436,000 3 1510               Northwood           11/15/12 171 Kingswood 86 92620 Arden Square $630,000 3 1800 11/16/12 22 ATHERTON 92620 Sheffield Manor $400,000 3 1668 11/16/12 13781 Solitaire Way 92620   $646,000 3 2257 11/16/12 21 Blossom 92620 Bella Rosa $835,000 4 2630 11/19/12 6 W Campanero 92620 Park Paseo $725,000 3 1910 11/19/12 18 Glenhaven 92620 Mayfield $1,338,000 6 3700 11/21/12 4022 Escudero Drive 92620 Racquet Club $576,500 4 2344               Oak Creek             11/21/12 16 Alevera Street 92618 Aldea $605,000 4 1500               Portola Springs           11/15/12 38 Seedling 92618 Las Ventas $680,000 4 2075 11/16/12 36 Cienega 92618 San Carlos $292,500 1 1126 11/19/12 58 Cienega 92618 San Carlos COURT $390,000 2 1621               Quail Hill             11/15/12 36 DUET 92603 Sage $596,000 4 1500               Rancho San Joaquin           11/16/12 17 Cerrito 9 92612 RSJ Townhomes $485,000 2 1507 11/17/12 5 Lago Sud 92612 RSJ Townhomes $462,000 2 1507               Stonegate East           11/20/12 28 Deergrass 92618 Capistrano $608,500 3 1823               Turtle Ridge           11/19/12 123 Canyoncrest 92603 Chantory $700,000 3 1495               Turtle Rock           11/16/12 5 Morning Glory 92603 Ridge Townhomes Peters $1,000,000 3 2036 11/16/12 1 Mira 92603 Crest - Akins $1,028,000 3 2630 11/19/12 10 Baristo 92612 Pointe - Turtle Rock $842,800 3 2104 11/20/12 12 Morning View 92612 Ridge Townhomes Peters $820,000 3 2412               University Park           11/15/12 7 Redwood Tree Ln 92612 Village III (Village Park) $635,000 4 2194 11/15/12 4641 Green Tree Ln 92612 Village III (Village Park) $685,500 4 2190 11/17/12 11 Hawthorn 92612 Terrace $565,000 3 1553 11/19/12 51 Oak Tree Ln 92612 Village III (Village Park) $612,000 3 2050 11/19/12 4055 Germainder Way 92612 Village I $530,000 3 1550               West Irvine           11/19/12 37 Langford 92602 Sheridan Square $780,000 4 2698               Westpark             11/19/12 10 Alcamo 92614 Vista West Park $740,000 4 1950 11/20/12 11 Festivo 92606 Cortina $665,000 3 2000 11/21/12 22 Marbella Aisle 12 92614 Tiempo $325,000 2 890               Woodbridge           11/15/12 34 Claret 92614 Other $405,590 2 1230 11/16/12 61 Summerstone 92614 UNKNOWN $385,000 3 1511 11/16/12 13 Springwater 61 92604 Townhomes $500,000 2 1296 11/16/12 3 Woodland Dr 92604 Park Homes $540,000 3 1681 11/18/12 49 Meadowgrass 92604 Villager $300,000 3 1220 11/20/12 10 Bluejay 92604 Patio Homes (WB) $740,000 4 2300 11/20/12 9 Rockwood 92614 -- $425,000 2 1000 11/21/12 30 Springacre 92614 Chateaux $399,000 2 1236               Woodbury           11/16/12 72 Canal 92620 Cachette $575,000 3 1580 Discuss on Talk Irvine: http://www.talkirvine.com/index.php/topic,3333.0.html

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