Posted: 04 Mar 2013 04:00 AM PST
Inventory on March 2nd, 2013: 201 Homes
On my blog "See spot buy or sell", I wrote about 95 Waterman #155 listed for $619,000:
The detached condominium sold for $630,000.
But two other comparative Wisteria homes sold within last six months didn't manage to reach the $600,000 mark. Low inventory has added the premium to all already overpriced Irvine homes. This is Irvine, this too shall sell, as long as there is someone ready to give an all cash offer. All along Irvine Boulevard, there is a lot of building activity. There will be a lot of new homes in the market soon. At this point, it's hard to state the effect of the influx of new inventory. New schools, new apartments in the neighborhood to help increase diversity or resale homes that have schools with proven track record?
Wisterias climb. It doesn't matter if they are climbing clockwise or counter clockwise- they just climb. Like the Wisteria homes in West Irvine.
Listing Price: $519,888
Bedrooms: 2 bedrooms
I was in awe that the Wisterias went from $329/SF in October 2012 to $364/SF in February 2013.
Mortgage @ 3.625% : $1897
Fixed Monthly Expenses: $2639
What would you do?
Comment below, or discuss at Talk Irvine.
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