Monday, December 10, 2012

Irvine Housing Blog

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$500,000 Condo, really-really-really!

Posted: 10 Dec 2012 04:00 AM PST

231 homes for sale as of December 09, 2012

In 2008, there were articles everywhere about the doom and gloom that shadow inventory would create in 2012.  Fear stopped us from buying, but hope and change brought by the low interest rates, and low inventory changed the scene by the time we hit 2012. Each village of Irvine hit a low once during this four year period, some recovering faster than others, some sliding faster than others. 2012 has become a happy transition year for the entire city from the great housing depression to the new era of zero growth. The property prices might be climbing, but when you compare the price with the rate of inflation and add in the low interest rates, not much has changed other than the outlook of the buyer.

How much has the outlook changed? What does $500,000 buy today in Irvine?


Address: 52 Wetstone #37
Listing Price: $499,900
Area: 1296 SF (2 Beds/ 2 Bathrooms)
Price/ SF: $386/SF

El Camino Real:

Address: 14821 Groveview Ln
Listing Price: $499,000
Area: 1156 SF (4 beds/ 2 baths)
Price/ SF: $432/SF

Turtle Ridge:

Address: 125 Jadestone
Listing Price: $498,000
Area: 1200 SF (2 beds/ 2 baths)
Price/ SF: $415/SF

Airport Area:

Address: 1118 Scholarship St
Listing Price: $490,000
Area: 1200 SF (3 Beds/ 2 baths)
Price/SF: $360/SF


Address: 22 Calypso
Listing Price: $489,000
Area: 1441 SF ( 2 Beds/ 2.5 Baths)
Price/ SF: $339/SF

University Park:

Address: 9 Featherwood #1
Listing Price: $485,000
Area: 1185 SF (2 Beds/ 2.5 Baths)
Price: $363/SF

Quail Hill:

Address: 60 Reunion
Listing Price: $509,000
Area: 1145 SF (2 Beds/ 2.5 Baths)
Price: $445/SF

What are your thoughts?
Would you buy a condominium at any price, and update it if necessary, just to live in Irvine?
What brings you to Irvine? Is it the safety ranking? Is it the school district?

Share your thoughts at Talk Irvine, or comment below.


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