Irvine Home Selling Numbers First Quarter 2016

Irvine Home Selling Numbers First Quarter 2016

cropped-P1010840.jpgIrvine CA continues as the top home selling city at Orange County and experienced continued solid numbers for the first three months of 2016 (ending March 31, 2016).

Irvine CA real estate -b-See Irvine home selling numbers 2016 first quarter.

 

603 Irvine homes sold during the first quarter 2016

  • $917,370 was average home sold price
  • 72 days was average time of market for those sold homes

516 Irvine homes sold last year during first quarter 2015

  • $804,221 was average Irvine home sold price during first quarter 2015
  • 70 days was average time on market for those sold homes

So Irvine home selling numbers are up big time first quarter 2016 – with average sold price up 14 percent as compared with same time during 2015.

Irvine CA continues as the economy powerhouse at Orange County and Southern California – with expanded economy opportunity, with more than 200,000 jobs.

Irvine has more jobs than the number of people over the age of 18 – with population of about 250,000 people.

Contact us to find out more information about Irvine homes and selling values for 2016.

What_is_your_Irvine_home_worth-b-By Harrison K. Long – Realtor, professional real estate representative, and CA real estate broker – CALBRE #01410855.  Source of information is CRMLS multiple listing service and is for homes represented by all brokers and agents.

Irvine CA homes for sale – search here

“Irvine CA Home Selling 2016 First Quarter”

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Irvine CA Home Sales Report for December 2015

Irvine CA home sales report for December 2015 shows solid numbers.

Irvine's Best ValuesIrvine’s local market update for detached single family homes during Dec. 2015 (by the Orange County Association of Realtors) shows that 103 homes were sold in the month – and that was an 18.4% increase as compared with last year Dec. 2014 (see infographic below).

$1,056,130 – was the average sold price of those 63 homes sold during Dec. 2015 – and that price average was down 7.5% from last year Dec. 2014.

There were 85 pending sales during Dec. 2015, which was up 19.7% as compared with same time last year.

Irvine_market_report,_Dec

Home buyers continue to love Irvine for its fabulous public schools, expansive and safe parks, fantastic recreation areas, bike trails and facilities, and some of the best weather anywhere.

Irvine is the king location at the Orange County CA real estate markets and sells more homes than at any other city in the area.

By Harrison K. Long – Real estate broker and Realtor at Irvine – CALBRE #01410855 – Text or cell at 949-701-2515.

Source of information is the Irvine CA market report for Dec. 2015, which was presented by the Orange County Association of Realtors.

“Irvine CA Home Sales Report for December 2015”

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Turtle Rock Irvine CA Homes Now for Lease

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Turtle Rock Irvine CA has some excellent homes for lease opportunities – November 14, 2015.

See Turtle Rock Irvine CA homes now listed for lease – click here

Turtle Rock village at Irvine CA has about 3,500 homes and is one of the most sought-after areas for residential living and investment at Orange County CA.  Homeowners and home sellers continue to have high expectations and significant confidence in values.

Explore Turtle RockPeople love Turtle Rock village, especially because of famous and award-winning schools, wonderful geography, biking and hiking trails, location near UC Irvine, and that it has some of best weather anywhere.

See Turtle Rock Irvine CA homes now listed for sale – click here

See Irvine CA homes now listed for sale – click here

By Harrison K. Long.  Source of some information is CRMLS multiple listing service and is for homes listed for lease by all brokers and agents.   We provide professional REALTOR® agent and broker representation and help for property owners, buyers and investors – for their best decisions about homes and real estate.  Contact us to find out more about Turtle Rock Irvine homes and real estate.

Homes for Lease“Turtle Rock Irvine CA Homes for Lease”

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7 Top Reasons to Buy a Home Now

“7 Top Reasons to Buy a Home Now” – Orange County CA people who are renting or leasing homes are very often considering to buy.

7 Top Reasons to buy now

Here are “7 top reasons to buy a home now”.

 

house in hand

First:  High Rents.  Rents are high and will go higher each year.  Unlike rent, your fixed rate mortgage payments won’t go up over time.  Your property taxes and insurance payments will increase.  However, in California we have Proposition 13, which limits the rates at which property taxes can be increased.  If you are careful to find a good home insurance policy, that might help you with good rates.

Second:  Low interest rates.  Mortgage interest rates are at historic lows now.  But the Federal Reserve is expected to increase these rates before the end of the year.  As rates go up from 4.125 percent (where they are today) to 4.3 percent and beyond, monthly payments on new mortgages will go up and purchasing power will decline.  Buying now, while you can lock in today’s low rates, can save you lots of money over the lifetime of the loan.

Third:  Equity ownership.  Rent payments are money spent and gone, but mortgage payments are investments.  With each house payment you build equity in your home.  As the interest portion of the payment declines, the principal part of the payment increases and your equity ownership goes up with that.

Fourth:  Favorable return on investment.  During temporary housing market ups and downs, real estate has experienced long-term, stable growth in value.  The average appreciation rate for median-priced homes in the Golden State has been around four percent each year for the past 15 years.  So you can invest and pay 4 percent annually and puts a roof over your head at the same time.

Fifth:  Flexibility.  The home you buy is yours.  You can decorate it to suit your tastes and remodel it for your When you decide to upsize or downsize, you can sell your home and use the proceeds as a down payment on a new replacement home.

Sixth:  Wealth accumulation.  An article in the New York Times stated that home ownership is the best way for people who have not inherited wealth to build it and that building equity in a home can be a ready-made savings plan.  And when you sell your home in California, up to $250,000 (and up to $500k if married and filing jointly) in capital gains may be excluded from federal income tax liability.

Seventh:  Long-term stability.  Home ownership has a significant positive impact on net worth, educational attainment, civic participation, and quality of life.  Buying, owning, and staying put allows you and your family make things solid for your lives, establish lasting friendships, and help realize the American Dream of home ownership.

By Harrison K. Long.  Source of information is an article by Sherri Butterfield at the   Orange County CA Association of REALTORs®. 

“7 Top Reasons to Buy a Home Now”

Posted in Home buying guide, Home buying or renting, Home buying strategy, Orange County home buying, Orange County home sales, Orange County home values, Orange County real estate | Tagged , , , , , , , , , , , , , | Leave a comment

Irvine CA Giant at Orange County Home Selling – Market Update

Irvine CA Home Selling Market Update – September 13, 2015

Turtle Rock Crest Irvine

Irvine is the giant at Orange County CA for home sales – while the city continues to grow with expanding population and businesses.

Irvine has some of the best and most sought after schools anywhere.

Irvine is the America’s safest city of its size (according to the FBI).

Irvine is one of the top cities in the CA and the USA for jobs and employment – with about  200,000 jobs – as compared with population (about 250,000 people).  So Irvine has more jobs than residents who are over the age of 18.

University High School Irvine

Homeowners and buyers at Irvine continue to have confidence in property values, and home selling numbers and prices reflect that.

356 – Irvine homes sold for the month ending September 12, 2015.  That’s more homes sold during any one month this year as compared with all Orange County cities.

$877,791 – average sold price of Irvine homes during the past 30 days (for time ending September 12, 2015, according to CRMLS).

655 – number of Irvine homes now listed for sale on CRMLS multiple listing service.  (This number of homes for sale is down slightly from last month, which is normal for end of summer cycle).

$1,202,000 – average list asking price of Irvine homes now listed for sale.

70 days – that time it would in theory take to sell all Irvine homes at current pace of sale.

See all Irvine homes for sale – click here

Portola Springs Irvine homes for sale – click here

Westpark Irvine homes for sale – click here

Woodbridge Village Irvine homes for sale – click here

Turtle Rock Village Irvine homes for sale – click here

Northwood Village Irvine homes for sale – click here

University Park homes for sale – click here

 

What_is_your_Irvine_home_worth-b-

By Harrison K. Long.  Source of some information is CRMLS multiple listing service and is for homes listed and sold by all brokers and agents.  We provide the best professional real estate and REALTOR® representation for sellers and buyers at Irvine and Orange County CA – with focus for clients to have outstanding customer service experiences.  CALBRE #01410855.  Contact us by at 949-701-2515 by cell or text.

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Irvine CA Home Selling Remains Hot

Irvine CA homes and real estate market update

Irvine CA continues to lead the pack at Orange County CA for home sales.  Irvine is a robust city with jobs, a healthy economy, and receives annual awards for being one of the safest cities in America.

Turtle Rock Irvine homes

Irvine has about 230,000 residents – and 80,000 homes and private residential properties.

Irvine is one of the most sought-after areas for residential living and investment in Southern California.

Home owners and sellers get lots of attention and have high expectations and confidence in Irvine property values.

690 Irvine homes are now listed for sale with the CRMLS multiple listing service (which is more than a 30 percent increase from six months ago).  Average listing price at Irvine is now at $1,163,000.

303 Irvine CA homes are now under purchase contracts with buyers – in backup and pending status on the multiple listing service – and these have average asking prices at $859,000.

274 Irvine homes have sold with closed deals during the past 30 days (from July 24 to August 24)– and average sold price for these homes was $854,000.

According to a recent Orange County Register article, 371 Irvine homes sold during July 2015 (including resale homes, new homes and trustee sale auctions).  

Average time on market from listing to sale of homes at Irvine is now less than 3 months (that time it would theoretically take to sell all Irvine homes on the market at current pace of sales) – so it’s still a seller’s market.

People seek out Irvine, because of its award-winning schools, excellent geography, biking and hiking trails, good jobs available, and that it has some of best weather anywhere.

See Irvine CA homes now listed for sale – click here

See Irvine single level homes now listed for sale – click here 

What_is_your_Irvine_home_worth-b-

By Harrison K. Long.  Source of some information is CRMLS multiple listing service and is for homes listed and sold by all brokers and agents. We provide professional REALTOR® and broker representation and help for property owners, buyers and investors – for their best decisions about homes and real estate. Contact us to find out more about Irvine homes and real estate.

“Irvine CA Home Selling Market Update – August 24, 2015”

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Turtle Rock Irvine Home Buyers Like Their Opportunities

Turtle Rock Crest

Turtle Rock village at Irvine CA has about 3,500 homes and is one of the most sought after areas for residential living and investment at Orange County.

Turtle Rock home owners and sellers continue to have high expectations and significant confidence in values.

44 Turtle Rock homes are now listed for sale with the CRMLS multiple listing service (which is more than a 100 percent increase from six months ago).  Average listing price at Turtle Rock is now at $1,285,000 (which is about the same as six months ago).

Explore Turtle Rock

15 Turtle Rock homes are now under  purchase contracts with buyers – in backup and pending status on the multiple listing service.   These homes have average asking price for these homes at $1,342,000.

12 Turtle Rock homes have sold with closed deals during the past 30 days – which is about the same rate of sales as compared with six months ago.  Average sold price for these homes was $1,372,000.

Average time on market from listing to sale of homes at Turtle Rock Irvine is now less than 4 months (that time it would theoretically take to sell all Turtle Rock homes on the market at current pace of sales).

Home seekers and buyers at Turtle Rock Irvine now have good choices and improved opportunities as compared with six months ago.

People love Turtle Rock village at Irvine, especially because of famous and award-winning schools, wonderful geography, biking and hiking trails, location near UC Irvine, and that it has some of best weather anywhere.

See Turtle Rock Irvine CA homes now listed for sale – click here

See Irvine CA homes now listed for sale – click here

See Irvine single level homes now listed for sale – click here

What_is_your_Irvine_home_worth-b-

By Harrison K. Long.  Source of some information is CRMLS multiple listing service and is for homes listed and sold by all brokers and agents.   We provide professional REALTOR® and broker representation and help for property owners, buyers and investors – for their best decisions about homes and real estate.  Contact us to find out more about Turtle Rock Irvine homes and real estate.

“Turtle Rock Irvine Home Buyers Like Their Opportunities”

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So What that Freddie Mac Forecasts Mortgage Rates Will Go Up

 

Mortgage Loan Rates On the Move Up

Freddie Mac (Federal Home Loan Mortgage Corporation) forecasted in July 2015 that interest rates would slowly rise over the next year, topping out at 5%.

As those rates rise, so do monthly house payments.

Freddie Mac's July 2015 interest rate outlook, 8-16-2015

Look at more detail on the numbers.

Moving from 4.125% (where mortgage rates are today) to 4.3%, their end of 2015 prediction, may seem like an insignificant change in the monthly payment, but it might be just the beginning.

For a detached median priced home at Orange County CA, it’s only a $672 increase each year; and for the median priced condominium, it’s only a $396 increase.

Remember that interest and mortgage rates will slowly rise.  As they do, before you know it, everybody will be talking about 5% interest rates as the new normal.  At 5%, the detached median sales price of an Orange County home now has a monthly payment that is $284 more than today’s payment.  That is a difference of $3,408 each and every year.

Locking in a mortgage rate today is like getting a free vacation every year for 30 years.

At 5%, the median sales price condominium has a monthly payment that is $170 more than today’s payment. That’s an extra $2,040, still a pretty considerable chunk of change.

By Harrison K. Long, Real estate broker, professional real estate representative, and Realtor, Orange County CA – CALBRE 01410855.  Source of some information for this article is ReportsOnHousing.com.

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Irvine’s Home Selling Markets Are Still Solid

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Turtle Rock Highlands

Irvine CA is the giant at Orange County for home sales.

Irvine now has population of about 240,000 people – is an America’s safest city, has some of the best schools anywhere, and is tops in job opportunities.

Irvine homeowners and buyers continue with confidence in values, and home selling numbers and prices reflect that.

Irvine CA housing market update

Irvine buyers have purchased 951 homes so far this year (average of 191 sold per month) – with average sold price of $818,070 – and 72 days was average market time for those sold homes.

Irvine now has 581 homes listed active for sale on the multiple listing service – with $1,240,000 average asking price at this time.  Average market time is now 52 days (that time it would in theory to sell all Irvine homes at current pace of sale)

212 Irvine homes are now for sale on the market at more than $1 million asking price – and those have average market time of 60 days.

Woodbridge Village Irvine homes for sale

Turtle Rock Village Irvine homes for sale

Northwood Village Irvine homes for sale

What_is_your_Irvine_home_worth-b-

By Harrison K. Long.  Source of some information is CRMLS multiple listing service and is for homes listed and sold by all brokers and agents.

We provide the best professional REALTOR® and broker representation for sellers and buyers at Irvine and Orange County CA to have outstanding customer service experiences.

Please contact us about Irvine home selling and with your questions about “Irvine CA Home Selling Market Update”.

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Irvine CA Real Estate Market Update

Irvine CA Real Estate Market Update – February 4, 2015

Irvine CA homes and real estate market update

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Irvine CA is the economy engine driver at Orange County – has a population of about 230,000 people and is still growing. Irvine homeowners and sellers continue to have high price expectations.

People are especially attracted to Irvine, because of its positive economy and jobs, famous and award-winning schools, that it is one of the safest cities in America, and has some of the best weather anywhere.

584 Irvine homes are now listed for sale – as of February 4, 2015 – with average list price of $1,131,851.

— Irvine home sellers got buyers for homes under contract and went into escrow during the past 30 days – Average list price for those homes was $839,645. So the average list price of an Irvine home going into escrow is about 25 percent lower than average for sale listing price of all Irvine homes.

210 Irvine homes sold with closed deals during October 2014 – with average sold price at $902,560 – and average time on market for those homes was 72 days.

Irvine home sellers who are serious should look carefully at “fair market value” – the amount that other homes in the neighborhoods have actually sold for.

Irvine home selling markets are more balanced now – with little or no advantage to either buyers or sellers.

Buyers have more negotiating power and better choices now as compared with earlier this year and during 2013.

More homes are sold and money spent to buy Irvine real estate as compared with any other city in the OC.

search Irvine CA homes – now listed for sale

search Irvine single level homes – now listed for sale

search Newport Beach homes – now listed for sale

search East Costa Mesa homes – now listed for sale

search Lake Forest CA homes – now listed for sale

search Lake Forest single level homes – now listed for sale

Coldwell Banker residential brokerage

By Harrison K. Long. Source of some information is CRMLS multiple listing service and Reports On Housing and is for homes listed and sold by all brokers and agents.

Professional REALTOR® agent representation and help for property owners, home sellers, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA.  Contact us at 949-854-7747 with your questions about home prices and values at Irvine and other Orange County CA cities and areas.

Irvine CA Home Selling and Real Estate Market Update

Posted in Irvine Best Values, Irvine home selling, Irvine home values, Irvine homes, Irvine listings, Irvine market update, Irvine real estate | Tagged , , , , , , , , , , , , , , , , , , , , | Leave a comment