Irvine, CA

Lovely Quail Hill Home is Searching for New Owner

This Quail Hill home is perfect for the person/people who wants a move in ready home.

This 2 bedroom Quail Hill home comes with an open floor plan and features a lovely patio area perfect for enjoying the great weather.

Please contact Christine Donovan at 714-319-9751 to schedule your private showing.

Irvine is the economy powerhouse at Orange County CA and has more jobs for employees than any other city of it size (with more than 200,000 people) in Southern California.

Irvine has 572 homes now listed for resale with average listing price of $953,253.

• 121 of those listed are short sales, and 31 of those listed are REOs. So 26.5 percent of current listings are distressed properties.

Realtors and brokers resold 2,201 Irvine homes last year during 2011 - with average sold price of $638,742.

• 443 of those sold homes last year were short sales (20 percent of market)
• 218 of those sold homes were REO lender owned after foreclosures (10 percent of market).

132 Irvine homes were resold last month during January 2012 - with average sold price of $622,470.

Since there are 572 Irvine homes now listed for resale and 132 sold during January, it would theoretically take 2.3 months to sell all homes now listed at this rate. Balanced would be about 4.5 month, so this Irvine market favors the sellers.

Northwood at Irvine homes now listed - click here for active lin.

Northpark at Irvine homes now listed - click here.

Quail Hill at Irvine homes now listed - click here.

Portola Springs at Irvine homes now listed - click here.

Shady Canyon at Irvine homes now listed - click here.

Westpark at Irvine homes now listed - click here

Woodbridge at Irvine homes now listed - click here.

Turtle Rock at Irvine homes now listed - click here.

University Park at Irvine homes now listed - click here

Woodbury at Irvine homes now listed - click here.

Irvine airport area homes now listed - click here.

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Source of some information is CRMLS, does not include FSBOs, trustee auctions sales or new homes, and does include those sold by all brokers and agents.

Harrison K. Long – REALTOR® and broker associate, GRI – Coldwell Banker Residential Brokerage – 949-854-7747 (phone) – ExploreProperties@gmail.com (email) – CA DRE 01410855 – SFR short sale and foreclosure resource certified by the National Association of REALTORs® – now serving as an appointed director at California Association of REALTORs® – attorney member of the California State Bar Association #69137

Irvine Home sales continue to be strong when compared to the overall Orange County real estate market. Looking at the previous 90 days ending Jan 31, 2012, Irvine accounted for 432 homes sold or 144 Irvine Homes sold per month. This is a time of year, November, December and January which is historically a slower market time. Comparing this data with the same period one year ago shows there were 441 sales in Irvine, for only a very slight decline in sales.

Dissecting the data into how condos faired vs Single family homes, Irvine condos accounted for 250 of those sales. Irvine Condos sold at $299.40 per square foot compared to 239 condos selling at $326.47 per square foot in the prior year. While the number of sales was up slightly, the price for square foot in Irvine Condos was down 8.3%. There are currently 309 Irvine condos for sale or slightly under 4 months of inventory. Single family homes accounted for 182 sales vs 202 sales of single family homes last year, this is a decline of 10% in sales. While there was a decline in number of homes sold, the average price per square for Irvine single family homes was down only 3.1%.

As is the case the overall Orange County real estate market, demand and sales activity is stronger at the lower end of the market. This is evident with the strong sales of Irvine condos. While the higher end of the Irvine real estate market continues to be slow, with neighborhoods such as The Summit at Turtle Ridge see limited activity. There were only seven sales within this neighborhood over the past 90 days. The average sales price of those sales was$2,275,257 or $542.44 per sq ft, both of these numbers are at the higher end to the over Irvine market.

The new home market in Irvine has seen only moderate activity. Irvine Company did introduce its newest development, Laguna Altura which is a high end development located in Laguna Canyon near Quail Hill.

Lovely Quail Hill Home is Searching for You

This Quail Hill home is perfect for the person who wants a move in ready home.

This 2 bedroom Quail Hill home comes with an open floor plan and also features a lovely patio area perfect for enjoying the great weather.

Please contact Christine Donovan at 714-319-9751 to schedule your private showing.

Interest rates are at historic lows.

It’s still a great time to take advantage of the historically low interest rates, and you can put down as little as 3.5% to 5% on many loan programs.

Tax advantages of owning a home.

Whether you’re a first time home buyer, a buyer moving up or one moving down, you may qualify for a tax break every year. Interest paid on your primary residence mortgage, (up to the home’s value), and property taxes are typically deductable.

Another great thing is that for most homeowners, there’s no capital gains tax when their primary residence is sold.

Inventory of REO properties.

These are also called Real Estate Owned, Bank Owned, Lender Mediated or Lender Owned properties, and appeal to bargain hunters who have a lot of patience!