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Spring 2012 Market Update
If you can qualify, now is an exceptional time to buy a home in South Irvine. Low rates with falling home prices makes a home purchase a great value! Call now for more information at Harry@949-290-5004 or Susan@949-322-3201
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| Average Home Price | $1,000,000 - View Graph Trend |
| Average Price Compared to Last Year | Down 5-10% |
| Average Time on Market | 30-60 days |
| Best Selling Price Range | $450,000 - $499,000 |
| Worst Selling Price Range | $1,000,000+ |
| Prices As % of Asking Price | 95-100% |
| Existing Home Prices for the past 90 days are? | No Change |
| Market Trend | Decreasing |
| Buyers’ or Sellers’ Market | More buyers than sellers |
| Buyer Activity for the past 90 days in South Irvine is | Increasing |
| Seller Activity for the past 90 days in South Irvine is? | Decreasing |
| Multiple Offers? | Yes |
| Multiple Offers Commentary | With distressed sales dominating the market in many areas of California and the nation, when any of these type of pre-foreclosure and foreclosure properties hit the market in the South Irvine area, there is a rush of buyers making offers at or above the price at which these properties are listed. |
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 25-30% |
| Is Financing Available For Qualified Buyers? | Yes |
| Comments on Financing For Qualified Buyers | Financing is still available for all price ranges. Rates are at an all time low. Please call Mark Gallagher at Park Place Funding directly for a FREE rate quote. Mark has the lowest rates and fees guaranteed! Call Today at 949-244-4333. |
| Housing Inventory | Limited Supply |
| Inventory Comments | With exclusive high-end communities of Shady Canyon, Turtle Rock and Turtle Ridge, South Irvine offers the best value and highest probability of appreciation of any area of South Orange County and even Southern California as a whole. |
| Greatest Activity | Repeat Buyers |
| Reason to Buy/Sell | Lower prices combined with a great selection of homes AND the lowest interest rates in history... makes it a perfect time to buy in South Irvine! |
| Nearest Metro Area | SOUTH COAST METRO |
| Housing Hot Spots | ALL areas within the South Orange County area are considered ’Housing Hotspots’! |
| Average Sold Price | $1,000,000 - View Graph Trend |
South Irvine Local News
Agent quarterly survey shows growing optimism toward a housing market recovery
End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.
Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.
Click here for full article...
End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.
Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.
Click here for full article...
Contact Information
Harry Lee
949-290-5004 
Request More Information Let me answer your questions!
Ask Me!
Blog Archives
Mortgage Rates
– May 28th, 2012 –
---------------------------------
30 yr. fixed rate: 3.82%---------------------------------
15 yr. fixed rate: 3.11%
30 yr. jumbo rate: 4.38%
15 yr. jumbo rate: 3.61%
Home Values
StreetZip Code
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Request More Information Let me answer your questions! Ask Me!
Harry Lee
Park Place Estates
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 949-290-5004
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