Top 10 List

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Updated for 9/06/08

The leading edge homes in terms of price/sqft for Irvine, over all price ranges in Irvine excluding short sales.

All are listed as active, minimum remains $234.84/sqft and maximum this week rises to $293.87/sqft. asking price.

Address - Low List Price - Use Code/Beds/Baths/Sqft

1. 34 New Season - $339,900 Condo/2/2/1190

2. 229 Pineview - $349,900 - Condo/2/1.5/1202

3. 44 Honey Locust - $599,900 - Condo/3/2.5/2125

4. 46 Honey Locust - $624,900 - Condo/3/2.5/2472

13755 Typee Way - $669,000 - SFR/5/3/2587 - In Escrow

15 Spicewood Way - $679,000 - SFR/3/3/2365 - In Escrow

18 Foxglove Way - $694,900 - SFR/4/2.5/2682 - In Escrow

5. 5 Oak Tree - $749,800 - SFR/4/2.5/2598

6. 14586 Sweetan - $799,000 - SFR/4/3.5/3071

7. 4201 Williwaw Dr - $800,000 - SFR/4/3/3058

8. 26 Rustling Wind - $839,000 - Condo/4/2.5/2855

9. 42 Wheeler - $849,900 - SFR/4/3/2962

10. 53 Legacy - $864,900 - SFR/5/3.5/3200

Thank you again and happy hunting.

-IR2
 
Updated for 9/06/08

The leading edge homes in terms of price/sqft for Irvine, over all price ranges in Irvine excluding short sales.

All are listed as active, minimum remains $234.84/sqft and maximum this week dropped back down to $286.93/sqft. asking price.

Address - Low List Price - Use Code/Beds/Baths/Sqft

1. 182 Pineview - $300,000 - Condo/2/1.5/1204

34 New Season - $339,900 Condo/2/2/1190 - In Escrow

229 Pineview - $349,900 - Condo/2/1.5/1202 - Active, but dropped off of leaderboard

2. 33 Visalia - $499,000 - Condo3/2.5/1821

3. 144 Saint James - $529,000 - Condo 4/2.5/1931

4. 44 Honey Locust - $599,900 - Condo/3/2.5/2125

46 Honey Locust - $624,900 - Condo/3/2.5/2472 - In Escrow

5. 14551 Holly Oak - $645,000 - SFR/4/2.5/2336

5 Oak Tree - $749,800 - SFR/4/2.5/2598 - Active, but dropped off of leaderboard

6. 14586 Sweetan - $799,000 - SFR/4/3.5/3071

7. 4201 Williwaw Dr - $800,000 - SFR/4/3/3058

26 Rustling Wind - $839,000 - Condo/4/2.5/2855 - Active, but dropped off of leaderboard

8. 42 Wheeler - $849,900 - SFR/4/3/2962

9. 53 Legacy - $864,900 - SFR/5/3.5/3200

10. 7 Bitterwood - $1,295,000 - SFR/4/4/4600

Good luck,

-IR2
 
freedomCM said:
so how many short sales are there before you get to 7 bitterwood? is it few, or 100?
Click to expand...

Currently, 155 total "active" short sales in Irvine. Eight of them above $1M.

By contrast there are 29 active bank-owned properties, of which 4 are above the $1M mark.

In all, there are 726 active properties currently listed.
 
IrvineRealtor said:
freedomCM said:
so how many short sales are there before you get to 7 bitterwood? is it few, or 100?
Click to expand...

Currently, 155 total "active" short sales in Irvine. Eight of them above $1M.

By contrast there are 29 active bank-owned properties, of which 4 are above the $1M mark.

In all, there are 726 active properties currently listed.
Click to expand...

I can see why IPO gets all stressed out about the short-term market outlook. The inventory total numbers and composition are somewhat bearish, but not that bad overall. The amount of must-sell inventory is certainly much higher than "normal" but it isn't nearly as bad as some of the really beaten down markets. The sales volumes, though very light, are moving inventory. Actually, it is amazing the prices have dropped that much given that Irvine hasn't seen near the REO activity of other areas.

I focus on the macro because I believe the short-term noise over the next couple of years is just noise. In fact, I don't pay attention to the noise to avoid the emotional turmoil it brings. There is not much risk of a raging bull market happening any time soon. The macro picture for Irvine is very bad: Soft economy, tightening credit, Alt-A and Prime resets, Option ARMs, etc.
 
Updated for 9/19/08

The leading edge homes in terms of price/sqft for Irvine, over all price ranges in Irvine excluding short sales.

All are listed as active, minimum up to $256.60/sqft and maximum this week dropped again to $277.79/sqft. asking price.

Address - Low List Price - Use Code/Beds/Baths/Sqft

1. 182 Pineview - $300,000 - Condo/2/1.5/1204

2. 229 Pineview - $333,900 - Condo/2/1.5/1202

3. 20 Fairside - $340,000 - Condo/3/1.5/1325

4. 51 Ardmore - $360,000 - Condo/2/1.5/1300

33 Visalia - $499,000 - Condo3/2.5/1821 - In Escrow

5. 144 Saint James - $529,000 - Condo 4/2.5/1931

6. 44 Honey Locust - $599,900 - Condo/3/2.5/2125

7. 14551 Holly Oak - $645,000 - SFR/4/2.5/2336

8. 21 Blazing Star - $699,900 - SFR/4/2.5/2522

9. 14586 Sweetan - $799,000 - SFR/4/3.5/3071

10. 4201 Williwaw Dr - $800,000 - SFR/4/3/3058

42 Wheeler - $849,900 - SFR/4/3/2962 - Sold

53 Legacy - $864,900 - SFR/5/3.5/3200 - In Escrow

7 Bitterwood - $1,295,000 - SFR/4/4/4600 - Still active, but dropped off of leaderboard

Good luck,

-IR2
 
Updated for 9/27/08

The leading edge homes in terms of price/sqft for Irvine, over all price ranges in Irvine excluding short sales.

All are listed as active, minimum dropped to $237.71/sqft and maximum this week back up to $282.20/sqft. asking price.

Notably, 6 of last week's top ten went into escrow this week.

Address - Low List Price - Use Code/Beds/Baths/Sqft

182 Pineview - $300,000 - Condo/2/1.5/1204 - In Escrow

1. 229 Pineview - $333,900 - Condo/2/1.5/1202

20 Fairside - $340,000 - Condo/3/1.5/1325 - In Escrow

51 Ardmore - $360,000 - Condo/2/1.5/1300 - In Escrow

2. 12 Leucadia - $513,000 - Condo/3/3/1825

144 Saint James - $529,000 - Condo 4/2.5/1931 - In Escrow

3. 44 Honey Locust - $599,900 - Condo/3/2.5/2125

14551 Holly Oak - $645,000 - SFR/4/2.5/2336 - In Escrow

4. 4951 Lori Ann - $695,000 - SFR/5/3.5/2500

5. 21 Crescent City - $699,000 - SFR/4/2.5/2477

21 Blazing Star - $699,900 - SFR/4/2.5/2522 - In Escrow

6. 5 Oak Tree - $725,000 - SFR/4/2.5/2598

7. 14586 Sweetan - $799,000 - SFR/4/3.5/3071

8. 4201 Williwaw Dr - $800,000 - SFR/4/3/3058

9. 7 Bitterwood - $1,295,000 - SFR/4/4/4600

10. 4082 Escudero - $1,399,000 - SFR/5/5.5/5030

Good luck,

-IR2
 
Updated for 10/05/08

The leading edge homes in terms of price/sqft for Irvine, over all price ranges in Irvine excluding short sales.

All are listed as active, minimum remains $237.71/sqft and maximum this week down to $281.10/sqft. asking price.

2 of last week's top ten went into escrow this week.

Address - Low List Price - Use Code/Beds/Baths/Sqft

1. 81 Lemon Grv - $179,000 - Condo/2/1/700

2. 229 Pineview - $333,900 - Condo/2/1.5/1202

3. 1900 Timberwood - $334,900 - Condo/1/1/1270

4. 12 Leucadia - $513,000 - Condo/3/3/1825

5. 144 Saint James - $529,900 - Condo/4/2.5/1931

44 Honey Locust - $599,900 - Condo/3/2.5/2125 - In Escrow

6. 21 Blazing Star - $699,900 - SFR/4/2.5/2522

7. 4951 Lori Ann - $700,000 - SFR/5/3.5/2500

21 Crescent City - $699,000 - SFR/4/2.5/2477 - In Escrow

5 Oak Tree - $725,000 - SFR/4/2.5/2598 - Active, but dropped off of leaderboard.

8. 14586 Sweetan - $730,000 - SFR/4/3.5/3071

9. 4201 Williwaw Dr - $775,000 - SFR/4/3/3058

7 Bitterwood - $1,295,000 - SFR/4/4/4600 - Active, but dropped off of leaderboard.

10. 4082 Escudero - $1,399,000 - SFR/5/5.5/5030

Good luck,

-IR2
 
[ Updated for 10/10/08

The leading edge homes in terms of price/sqft for Irvine, over all price ranges in Irvine excluding short sales.

All are listed as active, minimum dropped to $227.94/sqft and maximum this week up to $281.52/sqft. asking price.

2 of last week's top ten went into escrow this week.

Address - Low List Price - Use Code/Beds/Baths/Sqft

1. 38 Fallbrook - $315,000 - Condo/3/1.5/1150

2. 229 Pineview - $333,900 - Condo/2/1.5/1202

3. 1900 Timberwood - $334,900 - Condo/1/1/1270

12 Leucadia - $513,000 - Condo/3/3/1825 - In Escrow

4. 144 Saint James - $529,900 - Condo/4/2.5/1931

5. 21 Blazing Star - $699,900 - SFR/4/2.5/2522

4951 Lori Ann - $700,000 - SFR/5/3.5/2500 - In Escrow

6. 14586 Sweetan - $700,000 - SFR/4/3.5/3071

7. 4201 Williwaw Dr - $775,000 - SFR/4/3/3058

8. 16 Carver - $775,000 - SFR/5/3/2950

9. 7 Bitterwood - $1,295,000 - SFR/4/4/4600

10. 4082 Escudero - $1,399,000 - SFR/5/5.5/5030

Have a great weekend,

-IR2
 
What's up with that Bitterwood property? They bought it for 455K in 2003, want around 1 mil return on it? Who in their right mind buy a house in Woodbridge for 1.2-1.3? For this money, there is plenty of properties in much nicer areas...
 
Updated for 10/17/08

The leading edge homes in terms of price/sqft for Irvine, over all price ranges in Irvine excluding short sales.

All are listed as active, minimum remains at $227.94/sqft and maximum this week back down to $278.13/sqft. asking price.

2 of last week's top ten went into escrow this week.

Address - Low List Price - Use Code/Beds/Baths/Sqft

1. 38 Fallbrook - $315,000 - Condo/3/1.5/1150

2. 229 Pineview - $333,900 - Condo/2/1.5/1202

3. 1900 Timberwood - $334,900 - Condo/1/1/1270

4. 144 Saint James - $529,900 - Condo/4/2.5/1931

5. 126 Long Grass - $558,880 - Condo/3/3.5/2197

21 Blazing Star - $699,900 - SFR/4/2.5/2522 - In Escrow.

6. 14586 Sweetan - $700,000 - SFR/4/3.5/3071

7. 4201 Williwaw Dr - $775,000 - SFR/4/3/3058

8. 16 Carver - $775,000 - SFR/5/3/2950

9. 53 Legacy - $864,900 - SFR/5/3.5/3683

7 Bitterwood - $1,295,000 - SFR/4/4/4600 - Active but dropped off of leaderboard.

10. 4082 Escudero - $1,399,000 - SFR/5/5.5/5030

Enjoy your weekend, everyone

-IR2
 
IrvineRenter said:
IrvineRealtor said:
freedomCM said:
so how many short sales are there before you get to 7 bitterwood? is it few, or 100?
Click to expand...

Currently, 155 total "active" short sales in Irvine. Eight of them above $1M.

By contrast there are 29 active bank-owned properties, of which 4 are above the $1M mark.

In all, there are 726 active properties currently listed.
Click to expand...

I focus on the macro because I believe the short-term noise over the next couple of years is just noise. In fact, I don't pay attention to the noise to avoid the emotional turmoil it brings. There is not much risk of a raging bull market happening any time soon. The macro picture for Irvine is very bad: Soft economy, tightening credit, Alt-A and Prime resets, Option ARMs, etc.
Click to expand...

Thanks IR... I have to say, although most everyone on here is a bear, they are a bit overBEARing about it (haha... hurm....). While everyone on here says the same thing (wait wait wait), your rationality lacks none of the condescension or ascerbity that laces some of the other people's posts.
 
Updated for 10/22/08

The leading edge homes in terms of price/sqft for Irvine, over all price ranges in Irvine excluding short sales.

All are listed as active, minimum up to $234.84/sqft and maximum this week down again to $273.91/sqft. asking price.

Just one of last week's top ten went into escrow this week.

Address - Low List Price - Use Code/Beds/Baths/Sqft

1. 202 Pineview - $235,000 - Condo/1/1/932

2. 38 Fallbrook - $315,000 - Condo/3/1.5/1150

229 Pineview - $333,900 - Condo/2/1.5/1202 - Still active but dropped off of leaderboard.

1900 Timberwood - $334,900 - Condo/1/1/1270 - In Escrow.

3. 144 Saint James - $521,900 - Condo/4/2.5/1931

4. 126 Long Grass - $558,880 - Condo/3/3.5/2197

5. 5 Oak Tree - $699,900 - SFR/4/2.5/2598

14586 Sweetan - $700,000 - SFR/4/3.5/3071 - On Hold.

6. 4201 Williwaw Dr - $749,900 - SFR/4/3/3058

7. 16 Carver - $775,000 - SFR/5/3/2950

8. 22 Honey Locust - $809,000 - SFR/5/4/3168

9. 53 Legacy - $864,900 - SFR/5/3.5/3683

10. 4082 Escudero - $1,290,000 - SFR/5/5.5/5030

Good luck,

-IR2
 
IR2....whats up with that 1900 timberwood one? the redfin link gives nothing

but says:

Sold For: $385,189

(07/15/2008)

was it an REO and thats what it went back to the bank for? the listing is totally offline at redfin so have no idea what the listing description was.

I enjoy watching the competition on Timberwood, still 4 more of those left on the market! :)

edit: and look like there are 2 others that have NOD's against them that arent up for sale
 
24inIrvine said:
IR2....whats up with that 1900 timberwood one? the redfin link gives nothing

but says:

Sold For: $385,189

(07/15/2008)

was it an REO and thats what it went back to the bank for? the listing is totally offline at redfin so have no idea what the listing description was.

I enjoy watching the competition on Timberwood, still 4 more of those left on the market! :)

edit: and look like there are 2 others that have NOD's against them that arent up for sale
Click to expand...

You are precisely right. on 7/15 it went back to the bank at Trustee's sale.

The description:

Highly desirable end unit located in Northwood Pointe Community with convenient access to schools, parks, and shopping centers. Home features a 1 bedroom, 1 bath, plus loft(could be used as second bedroom). Living room features a nice fireplace. Has large balcony off of Dining room. Large Master Bedroom with walk-in closet. Well maintained complex with pool, spa and access to additional other amenities.

Directions Portola Pkwy to right on Yale Ave, Right on Arborwood, Right on Timberwood.
Click to expand...

Also of note, in broker's notes are some common requirements now, that IHB-dwellers should find interesting:

Priv Rmks *LENDER OWNER* Supra lockbox. Fax or Email offers to agent email or Fax to xxx-xxx-xxxx. Agents please comply w/requirements prior to submitting an offer: 1)Buyer to send a branch Pre-approval from a Direct Lender 2)Recent bank statements 3)Recent first pages of Credit Report 4)Min. of 1% of Purchase price as earnest money. Offer should include language that prop is sold AS IS, Where is & w/all its faults w/out warranty expressed or implied.
Click to expand...

Many/most of these REOs that are priced below current market value are getting multiple offers, all of which must jump through all of these hoops (sometimes more) to even be considered. Those of you that remember the not-so-distant days of writing offers on the hood of the car and "getting the rest to you later" will find this much different than you had been used to. At this low/midrange price point especially, there are many buyers still pursuing. Many of the banks are further requiring that the buyers prequalify with the bank selling the property. They are trying to shore up their exposure with better, more qualified loans.
 
Updated for 10/31/08

The leading edge homes in terms of price/sqft for Irvine, over all price ranges in Irvine excluding short sales.

All are listed as active, minimum remains at $234.84/sqft and maximum this week back up to $277.79/sqft. asking price.

Just one of last week's top ten went into escrow this week again.

Address - Low List Price - Use Code/Beds/Baths/Sqft

1. 202 Pineview - $235,000 - Condo/1/1/932

38 Fallbrook - $315,000 - Condo/3/1.5/1150 - In Escrow.

2. 229 Pineview - $333,900 - Condo/2/1.5/1202

3. 144 Saint James - $521,900 - Condo/4/2.5/1931

4. 126 Long Grass - $558,880 - Condo/3/3.5/2197

5. 5 Oak Tree - $699,900 - SFR/4/2.5/2598

6. 4201 Williwaw Dr - $749,900 - SFR/4/3/3058

7. 16 Carver - $775,000 - SFR/5/3/2950

8. 22 Honey Locust - $809,000 - SFR/5/4/3168

9. 53 Legacy - $864,900 - SFR/5/3.5/3683

10. 4082 Escudero - $1,290,000 - SFR/5/5.5/5030

Happy Halloween,

-IR2
 
IrvineRealtor said:
Updated for 10/31/08

The leading edge homes in terms of price/sqft for Irvine, over all price ranges in Irvine excluding short sales.

All are listed as active, minimum remains at $234.84/sqft and maximum this week up again to $279.86/sqft. asking price.

Three of last week's top ten went into escrow this week.

Address - Low List Price - Use Code/Beds/Baths/Sqft

1. 202 Pineview - $235,000 - Condo/1/1/932

2. 68 Eagle Point - $279,000 - Condo/2/1/1000

3. 229 Pineview - $333,900 - Condo/2/1.5/1202

4. 144 Saint James - $521,900 - Condo/4/2.5/1931

5. 126 Long Grass - $565,377- Condo/3/3.5/2197 - Raised price this week.

5 Oak Tree - $699,900 - SFR/4/2.5/2598 - In Escrow

6. 4201 Williwaw Dr - $749,900 - SFR/4/3/3058

7. 16 Carver - $775,000 - SFR/5/3/2950

8. 30 Valley View - $799,000 - SFR 4/2.5/2855

22 Honey Locust - $809,000 - SFR/5/4/3168 - In Escrow

9. 43 Hunter - $838,000 - SFR/4/2.5/3145

10. 53 Legacy - $864,900 - SFR/5/3.5/3683

4082 Escudero - $1,290,000 - SFR/5/5.5/5030 - In Escrow

Good luck,

-IR2
Click to expand...
 
I'm really surprised that 6 Tahoe in Irvine sold for $645,000 on 8/21/08. It was a dump and needed a total remodel when I saw the listing (we use to live at 10 Tahoe). Talk about WTF prices! I believe the house was in foreclosure so maybe that's the sale listed on 5/14/08 for $524,000.
 
Updated for 11/15/08

The leading edge homes in terms of price/sqft for Irvine, over all price ranges in Irvine excluding short sales.

All are listed as active, minimum up to at $240.96/sqft and maximum this week down to $266.45/sqft. asking price.

Two of last week's top ten went into escrow this week.

Address - Low List Price - Use Code/Beds/Baths/Sqft

1. 81 Lemon Grove - $179,000 - Condo/2/1/700 (redfin link unavailable)

2. 243 Pineview - $179,900 - Condo/1/1/684

3. 202 Pineview - $235,000 - Condo/1/1/932

68 Eagle Point - $279,000 - Condo/2/1/1000 - Still active but dropped off leaderboard.

4. 229 Pineview - $333,900 - Condo/2/1.5/1202

144 Saint James - $521,900 - Condo/4/2.5/1931 - In Escrow

5. 126 Long Grass - $565,377- Condo/3/3.5/2197

6. 14586 Sweetan - $740,000 SFR/4/3.5/3071

7. 4201 Williwaw Dr - $749,900 - SFR/4/3/3058

8. 16 Carver - $769,000 - SFR/5/3/2950

9. 14 Rocky Knoll - $769,900 - SFR/5/3.5/3100

30 Valley View - $799,000 - SFR 4/2.5/2855 - Still active but dropped off leaderboard.

10. 43 Hunter - $838,000 - SFR/4/2.5/3145

53 Legacy - $864,900 - SFR/5/3.5/3683 - In Escrow

Good luck,

-IR2
 
Updated for 12/09/08

Sorry for the reporting delay...

The leading edge homes in terms of price/sqft for Irvine, over all price ranges in Irvine excluding short sales.

All are listed as active, minimum down to at $231.39/sqft and maximum this week back up to $279/sqft. asking price (two tied).

Seven of previous top ten went into escrow since last report.

Address - Low List Price - Use Code/Beds/Baths/Sqft

81 Lemon Grove - $179,000 - Condo/2/1/700 - Sold for $181,000 on 11/19

1. 243 Pineview - $179,900 - Condo/1/1/684

202 Pineview - $235,000 - Condo/1/1/932 - In escrow on 11/17

2. 33 Tarocco - $274,900 - Condo/2/2/995

3. 68 Eagle Point - $279,000 - Condo/2/1/1000

229 Pineview - $333,900 - Condo/2/1.5/1202 - In escrow on 12/2

4. 14511 Ryewood - $405,000 - SFR/3/2/1480 (redfin listing unavailable)

5. 302 Terra Bella - $435,000 - Condo/3/2.5/1614

6. 1 Helena - $419,900 - Condo/3/2.5/1505

126 Long Grass - $565,377- Condo/3/3.5/2197 - In escrow on 12/5

7. 9 Soaring Hawk - $684,900 - SFR/4/2.5/2960

8. 14586 Sweetan - $740,000 SFR/4/3.5/3071

9. 4201 Williwaw Dr - $749,900 - SFR/4/3/3058

16 Carver - $769,000 - SFR/5/3/2950 - In escrow on 12/7

14 Rocky Knoll - $769,900 - SFR/5/3.5/3100 - In escrow on 11/26

43 Hunter - $838,000 - SFR/4/2.5/3145 - In escrow on 11/15

10. 33 Columbus - $1,100,000 - SFR/5/3.5/4244

11. 4082 Escudero - $1,290,000 - SFR/5/5.5/5030

(top 11 list this week as two were tied at top price/sqft)

Good luck,

-IR2
 
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