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Re: Via San Gabriel - The price was dropped way down to bring in offers for a short sale. The New World tract isn't that nice and it's been hammered by foreclosures & short sales, but the prices have been running around $250K - $300K.

Tax records list 2 properties at the June address. The $1,250,000 is for a 10 unit apartment building. The current listing is for one condo, although the tax records list it as a 1,236 Sq Ft SFR. I'm not familiar with that area, so I don't know if there was some condo conversion going on...

Newport Coast does currently have the 2nd lowest % of distressed active inventory, behind only Laguna Woods. The % is substantially lower than the OC average and is going to be one factor in the pricing.

Cal Pac's Positano in Westpark and Sancerre in Newport Ridge are essentially the same product, yet the NC homes sell for $300K to $400K more, which is up to 60% higher.

The home was first listed on 12/17/07 for $659,900, then it was dropped to $649,900 on 2/11/08, and finally the listing expired on 3/18/08 & was relisted by the same realtor at the same price of $649,900. Total days on the market shows 100 days. It should go for a major discount, considering...

Re: 21 Bolinas... I toured that townhome, today, and it's led a very, very rough life in it's 6 years. It needs a major refurbishment, to say the least. The smoke smell was so overpowering, I was wishing that the lockbox had room for a gas mask. I just hope there weren't any children living...

Many investors bought in the Marquee with flipping in mind, because there was no one year occupancy/holding rule put in place by the builder. Also, buyers had the perception that their unit would increase in value from the time of purchase until the time of close of escrow (often, way more than...

6 Deauville sides Culver, which should be a big price reduction for the location, especially in this market. 56 Calavera backs Paseo Westpark, which should be a somewhat smaller price reduction for the location.

Of the REOs in the MLS, sold since Feb. 1st, the homes sold for an average of 93% of the orignal list price & 97% of the final list price. The low was 75% of the original list price & 88% of the final list price. The high was 107% of the original & final list price.

3 Raines sold on 11/08/2006 for $1,040,000. Financing was 100%. The house is a Plan 1 in Lennar's Manchester tract. Lot size is 5,144 sq ft and it's in an interior, cul-de-sac location. When it was on the market, before, it had a few upgrades and the condition was okay. Not sure about now?

It's owned by American Home Mortgage. It must have been seriously refurbished, then. I just saw it on Friday and it was in much better shape than most REOs.

I just checked Realtor.com. I pulled up a number of 1,350 for Irvine. Of this, 317 were rentals and 26 were mobile homes. There were also some homes outside of Irvine, included in that number. I don't know why, though? On just the first page, homes in Hemet and El Monte were listed...

Active listings are the ones in the MLS that are available to show and sell. I just went to our local MLS system (Tempo) and called up all active listings in Irvine. The front page of this web site (Irvine Housing Blog) lists the Irvine inventory as 916, which I assume is higher than the MLS...

I think you are trying to bridge to big of a gap. I just checked the stats on closed sales in Irvine from 1/1/08 until now, in the 800K to 1.2M price range. The average house sold at 95% of the final list price and 90% of the original list price. I've had lots of recent experience with...

Active inventory in the MLS, as of now, for Irvine is 891. Of the 891 listings, 36 are new homes in PS, WD, and the Plaza, being offered by the builder. 14 are new custom homes in Shady Canyon. 119 are short sales and 22 are REOs. The short sale and REO numbers are actually a little higher...

I think for an REO, 27 Oroville is a nice property, if you could get it for the right price. It's on a good sized lot for the area (5, 052 sq ft), with a decent backyard. It's in an inside, cul-de-sac location, as well. It does need a good interior paint job, unless you like your rooms bright...

I think there were too many high-end homes built in Ladera Ranch. Currently, there are 99 homes listed in the MLS, over $1 million. I think many people spending that much money would prefer a more central or beach-close location. Also, the high wires become more of an issue when there is more...

A realtor occupying a vacant listing without the owner's permission is a major CAR violation. There was a local, well-known realtor who lost his license for several years when he allowed someone to move into one of his listings.

16 New Haven was just sold by the bank. It closed escow on 3/7/2008 for $560K. The $684K sale was a related party transaction at above the market value.

Also, the auction had a 5% buyer premium, so the home actually sold for 850.5K at the auction. That home fell through several times at the auction. Not sure what was up with it?