Estate

Irvine Housing Blog

Posted: 28 Jan 2013 04:00 AM PST

Inventory on 25th January 2012: 2-1-6.

Irvine seems to be settling in the new normal of low inventory. As expected, property values are rising steadily keeping pace with the declining inventory. Condominiums that foreclosed for around $500,000 are now back into the market after some sprucing up for a bigger price tag. Good news for sellers, good news for Realtors and Brokers, and great news for flippers. Flipping as a career choice seems to be making sense again, just as day trading is.

72 Alevera St, Irvine CA 92618

Bed rooms/ Bathrooms: 4 Beds/ 2.5 Baths
Area: 1500 SF
Year Built: 2002
Type: Detached Condominium
Builders Tract Name: Aldea
Builders Tract Code: ALDE
Builders Model Code: 4
Elementary School: Oak Creek
Middle School: Lakeside
High School: Woodbridge

Listing Price: $639,000
Price/ SF: $426
HOA Dues: $175
Monthly mortgage: $2,295
Annual Property Taxes @ 1.033: $6600
Annual Mello Roos: $1480
Monthly Taxes + Mello Roos: $674

Fixed Monthly Expenses: $3144

This house was foreclosed in November 2012 for $498,000.
Inventory has gone down 23.1% in Oak Creek, and listing price/sf has gone up by 3.7%.

Comparable properties in the neighborhood:

1. 50 Alevera, 3 Bedroom-2.5 Bathroom detached condominium listed at $430/SF.
2. 16 Alevera, 4 Bedroom-3 Bathroom detached condominium sold for $403/SF in November 2012.
3. 85 Alevera, 3 Bedroom-2.5 Bathroom detached condominium sold for $416/SF in October 2012.

What do you think? Will the prices continue moving upwards to adjust to the spiraling inventory levels and push us into a bubble prematurely? Or does Irvine deserve a bubble bigger and faster than the rest of the nation because we are the safest, most desirable and fashionable city, and most recently one of the best run cities in the country? Will you still buy in Irvine if you see prices go up by more than 20% annually on the homes that you wanted to buy?

It’s too soon to predict buy and hold, but flip seems to be the mantra of the moment.

The Real Estate Bloggers

Dumb Real Estate Photography – Hide the Pot Plants

Posted: 25 Jan 2013 07:49 AM PST

Picture used to help sell a home in Australia showing their pot plants…

Here is a scenario for the real estate agents in the audience:

A 28-year-old man from Henley Beach South in Adelaide was reported for cultivating cannabis after photos of his plants were noticed on a real estate website.

The plants, growing in pots, inadvertently showed up in photos used to advertise the house for sale.

Police attended the house with a search warrant and subsequently seized the cannabis plants and reported the man. via news.com.au

My question is, does the agent have any responsibility to not publish the photos of the clients pot plants or at least warn the client of possible ramifications?

And, as a follow up, what agent would take this listing??? Yikes.

Irvine Housing Blog

Closed Sales from 1/17/2013 to 1/23/2013

Posted: 25 Jan 2013 04:00 AM PST

Date Sold	Address	Zip	Tract	Sold Price	Beds	Sq Ft
Airport Area
1/23/13	2172 Scholarship	92612	Avenue One	$345,000	2	1030

El Camino Real
1/22/13	4391 Vale St	92604	Greentree	$589,000	3	1515

Northpark
1/18/13	14 Riverside	92602	Brentwood	$1,200,000	5	3250

Northwood
1/18/13	13691 Solitaire Way	92620	Racquet Club	$580,000	4	2033
1/18/13	33 Sonrisa	92620	Canyon Creek	$835,000	4	2800
1/18/13	412 Timberwood	92620	Collage	$425,000	2	1270
1/22/13	21 Crockett	92620	Northwood Villas	$770,000	5	2466
1/22/13	22 Stonebrook	92620	Fairmont	$1,120,000	6	3000
1/22/13	29 Ericson Aisle	92620	Northwood Villas	$549,000	3	1786
1/23/13	30 Rossano	92620	Vista Filare	$525,000	3
1/23/13	81 Trailing Vine	92602	Tamarisk	$495,000	3	1498

Orangetree
1/18/13	407 Tangelo	92618	Villas	$331,000	2	1051

Portola Springs
1/17/13	31 Canoe	92618	Ironwood	$639,000	4	2423
1/17/13	58 Latitude	92618	Primrose	$583,880	3	1739

Quail Hill
1/22/13	65 Passage	92603	Casalon	$515,000	3	1600

Turtle Rock
1/18/13	52 Echo Glen	92603	Shady Canyon Custom	$6,675,000	6	10000

University Park
1/17/13	4 Bascom St	92612	Chancellor	$740,000	4	2100
1/19/13	59 Seton Rd	92612	Unknown	$540,000	3	1640

Walnut
1/17/13	92 Saint James	92606	Parklane (WN)	$599,000	3	1800
1/22/13	3 Connecticut	92606	Cambridge	$855,000	5	2900

West Irvine
1/22/13	18 Haverhill 118	92602	Andover	$475,000	3	1498

Westpark
1/21/13	4 Cuzzano Aisle	92606	Corte Bella	$511,000	4	2000
1/23/13	64 Barcelona	92614	Vista West Park	$845,000	4	2133

Woodbridge
1/18/13	33 W Spinnaker	92614	Seaport	$490,000	2	1087
1/21/13	75 Smokestone 13	92614	Park Vista	$225,000	1	750
1/23/13	59 Eagle Run	92614	Cottage Homes	$610,000	3	1571

Woodbury
1/18/13	27 Winding Way	92620	Mille Fleurs	$1,160,000	4	3500
1/19/13	64 Logan	92620	Rosemoor	$743,000	3	2500
1/21/13	22 Diamond 147	92620	San Mateo	$604,901	3	1660

architecture 4 us

Sustainable Home Concept The Port-a-bach

Posted: 25 Jan 2013 01:07 AM PST

Port-A-Bach is a container housing, created from used 20′ container box by Atelier Workshop. It becomes a solution for sustainable home needs as it may not need permanent site, which will not affect the land, very mobile and flexible.

As a micro house, this prefab home concept offers portable, compact, and flexible solution for those who are very mobile, need a place to stay wherever they go. This house will cover two adults and two children.

The design of this sustainable housing was done very carefully to maximize the space use. It has a bathroom, completed with open shower, sink, and a composting toilet to deal with its organic human waste. The interior is made from wooden materials, which also providing good insulation for the house. Space management is controlled, such as a lot of hidden and exposed storage in the kitchen.

This flexible sustainable home may also be powered by sustainable energy source from solar panels, and wind turbines on the roof. It also very easy to be unpacked and packed whenever it needed. When unpacked, it may provide additional spaces for outdoor activities.