Irvine home tops most-viewed list

The folks at Realtor.com compiled a list of the top 10 most-searched homes for sale in Orange County from their Web site (reflecting late March trends) …

City	Address	Price
Irvine	14 Filare	$569,000
Laguna Beach	1087 Flamingo Road	$549,900
Ladera Ranch	73 Kyle Court	$599,900
Ladera Ranch	6 Minford Circle	$574,900
Newport Beach	20491 Savanna Lane #5	$555,000
Dana Point	25251 Mainsail Drive	$550,000
San Clemente	424 Camino Flora Vista	$689,000
San Clemente	1409 Manera Ventosa	$600,000
Anaheim Hills	6403 East Calle Del Norte	$620,000
Dana Point	33206 Carribbean Way	$559,000

• These are the listings that online home shoppers check out the most in O.C.
• The homes are tracked within 20% of the median list price for the county, which is $629,900.
• This week, Irvine takes the cake with the most popular home for sale. See photos above (click for larger images).
• The second most popular listing is a foreclosure in Laguna Beach that is currently in escrow.
• Ladera Ranch, San Clemente and Dana Point dominate the list with the most appearances in the top 10.
• The last time we tracked the county’s hottest homes, a Dana Point home graced the top of the list.
• CLICK on address links and photos for additional information.

 

 

 

http://lansner.freedomblogging.com/

Posted via web from The Newport Beach Blog

Collecting, Interpreting and Disseminating Orange County Real Estate Data

Existing Home Listing Statistics for Orange County, California

The data below provides a snapshot of residential real estate listing statistics for Orange County, California as of 2010-03-29. Asking price and inventory statistics are shown for combined single family home and condo listings.

	2010-03-29	Month/Month	Year/Year
Median Listing Price	$449,900	-3.2%	4.1%
Number of Listings	13,607	22.1%	-1.9%

Last 5 Weeks of Orange County Data

Weekly inventory and median asking prices (as well as 25th and 75th percentiles) for single family and condo homes (combined) for the last five weeks are shown in the table. For a longer history of trends see the monthly averages data further down.

Week of	SFH+Condo Inventory	25th Percentile	Median	75th Percentile
2010-03-29	13,607	$305,000	$449,900	$700,000
2010-03-22	11,608	$324,900	$475,000	$750,000
2010-03-15	12,339	$315,000	$459,000	$730,000
2010-03-08	11,241	$319,000	$465,900	$749,900
2010-03-01	11,143	$319,000	$465,000	$749,000

Orange County 25th Percentile, Median and 75th Percentile Home Price

Orange County Home Inventory

http://www.housingtracker.net/asking-prices/orange-county-california/

 

Posted via web from The Newport Beach Lifestyle

DuPont Lofts, Irvine Condos now renting

Posted via email from The Newport Beach Lifestyle

Eight homes sold in Irvine high-rise in the last month...Auction list of irvine homes as well..

Irvine is not often associated with “urban” luxury high-rise condominiums.

A view from the only rooftop pool in Orange County, located at the top of the 15 story 3000 The Plaza condo tower. A home in the building is the grand prize of this year's IPSF Dream Stakes raffle.

In a city characterized by suburban villages and neighborhoods of single-family homes and town houses, it’s easy to forget that there are real estate alternatives just down Jamboree Road.

Well, that doesn’t appear to have affected potential homebuyers, as 3000 The Plaza, a tower of condos on the corner of Jamboree and Campus Drive, has sold 77 of its 105 available homes, eight in the past month alone.

3000 The Plaza, the newest and largest building in a three-tower complex on Jamboree, offers upscale homes ranging in size from 1,400 to 2,400 square feet and in price from $600,000 to $1.5 million.

The recent sales have validated the investment that Geoffrey Edmunds, 3000’s new majority owner, made when he acquired the tower in August, rescuing it from foreclosure.

Edmunds and his company had a minority stake in the development when Opus West, the original majority holder, filed for bankruptcy last year.  In the deal, Wells Fargo restructured the loans and debt with number of sales and budget bench marks that the project must meet over the next two years.

Sales have sped up since the August acquisition and the 28 new sales (19 of which have been finalized in the last three months) means that Edmunds has already met the quota for this August.

“People look at and demand quality,” Edmunds said, “That demand for quality has made (3000 The Plaza) the most successful urban living project in Orange County.”

3000 The Plaza is also the only urban living project, or building for that matter, in Orange County with a rooftop pool. Built on the top of the 15-story building, the swimming facility offers residents and visitors a spectacular view of Irvine and Newport. Although a quick warning, when I checked it out, it was pretty windy and I can imagine that it can get chilly for swimmers.

The building also offers a small gym, a game room and lounge, and homes with open living areas and kitchens.

All of this will go to the winner of the Irvine Public School Foundation’s “Dream Stakes” raffle.  Edmunds confirmed that this year’s grand prize will be a $700,000 Plaza home.

 

These Irvine homes are going to auction

Fifteen more Irvine homes are now in default on loans and scheduled to go to auction, according to legal notices printed March 11th. Among them is a million dollar home in Lower Peters Canyon. Below are some highlights of the houses up for auction.

18 Mirror Lake #30, El Camino Real

• Amount owed: $440,689.56
• Last sale: March 2005, $445,000
• Auction date & time: April 1 at noon
• Location: Front entrance to the County Courthouse, 700 Civic Center Drive West, Santa Ana
• Trustee sale #:09-35148-FF-CA
• Information: 714-730-2727

60 Burlingame, Lower Peters Canyon

• Amount owed: $498,835.41
  
• Last sale: Aug. 2004, $550,000
• Auction date & time: April 1 at10 a.m.
• Location: In front of the flagpoles at Placentia Civic Center, 401-411 E. Chapman Ave.
• Trustee sale #: 4329407
• Information: 714-573-1965

173 Tarocco, Oak Creek

• Amount owed: $333,981.78
• Last sale: April 2001, $176,500
• Auction date & time: April 1 at noon.
• Location: Front entrance to the County Courthouse, 700 Civic Center Drive West, Santa Ana
• Trustee sale #: CA-09-330919
• Information: 714-730-2727

56 Bridgeport, Northwood

• Amount owed: $577,656.52
• Last sale: June 2002, $385,000
• Auction date & time: April 1 at 3 p.m.
• Location: On the front steps to the entrance of the Orange Civic Center, 300 East Chapman, Orange CA
• Trustee sale #: C505843-CA
• Information: 714-480-5690

40 Declaration Place, Lower Peters Canyon

• Amount owed: $1,006,960.09 (estimated)
  
• Last sale: Aug. 2005, $929,000
• Auction date & time: April 2 at10 a.m.
• Location:  In front of the flagpoles at Placentia Civic Center, 401-411 E. Chapman Ave.
• Trustee sale #: 09-35980
• Information: 714-573-1965

16 Sage #26, Woodbridge

• Amount owed: $494,016.54
• Last sale: April 2004, $425,000
• Auction date and time: April 1 at 10 a.m.
• Location:   Front entrance to 8180 East Kaiser Blvd, Anaheim Hills
• Trustee sale #: 5801604
• Information: 949-603-7342

77 Canyoncrest, Turtle Ridge

• Amount owed: $642,383.36
• Last sale: May 2005, $759,000
• Auction date & time: April 1 at 10 a.m.
• Location:  In front of the flagpoles at Placentia Civic Center, 401-411 E. Chapman Ave.
• Trustee sale #: 4152689
• Information: 714-573-1965

95 Remington #218, Northwood

• Amount owed: $339,407.52
• Last sale: Dec. 2005, $415,000
• Auction date & time: April 8 at noon.
• Location:  Front entrance to the County Courthouse, 700 Civic Center Drive West, Santa Ana.
• Trustee sale #: 09-0112756
• Information: 626-927-4399

218 Lantern Lane, Oak Creek

• Amount owed: $542,158.57
• Last sale: Oct. 2006, $590,000
• Auction date & time: April 1 at 10 a.m.
• Location: In front of the flagpoles at Placentia Civic Center, 401-411 E. Chapman Ave.
• Trustee sale #: 20090033501612
• Information: 530-672-3033

14 Fairside, Woodbridge

• Amount owed: $21,303.00
• Last sale: Oct. 03, $370,000
• Auction date & time: April 1 at noon.
• Location: Front entrance to the County Courthouse, 700 Civic Center Drive West, Santa Ana.
• Trustee sale #: WC-230790
• Information: 714-730-2727

Is this home Irvine’s most expensive listing?

March 11th, 2010, 7:06 am by Ian Hamilton

Aerial view of 26 Grey Owl in Irvine courtesy Bing.com

The square footage on this listing is about the same as last week’s $5.77 million home that sold in Shady Canyon, but the price certainly isn’t.

The biggest thing people seemed to latch onto about the $5.77 million home was the location on a half acre lot. Not this home. This 13,500 square foot behemoth at 26 Grey Owl sits on a 1.73 acre lot.

The listing price? $15,995,000. Read the rest of this entry »

http://irvinehomes.freedomblogging.com/

Posted via web from The Newport Beach Lifestyle

Unfinished O.C. condos sell for $27 million

March 10th, 2010, 12:01 am by Jeff Collins

The idled Lofts at Von Karman last April. The project sold recently, has been renamed DuPont Lofts and will reopen as apartments.

A year ago, the Lofts at Von Karman stood unfinished, an Irvine condo project that ran out of money before developers could get it to a market in which sales were sinking.

But now, the project is on the verge of being reborn — as apartments.

Essex Property Trust, a Palo Alto apartment investor with more than 27,000 units in Orange County and elsewhere along the West Coast, recently purchased the 115-unit condominium development at Von Karman Avenue and DuPont Drive and plans to finish construction, then reopen the project as rentals.

The real estate investment trust paid $27 million, said Jeff Rowerdink, Essex’s Irvine-based first vice president of acquisitions. He said it will cost the company $5.8 million to complete construction. Essex’s final cost will amount to about 55% of the project’s total construction costs, he said.

Essex closed escrow last week on Skyline at MacArthur Place, twin 25-story condo towers next to the 55 freeway, and is “aggressively searching out additional deals like this,” Rowerdink said.

The project at Von Karman, since renamed DuPont Lofts, was one of several stalled developments featured in a report last April about the proliferation of land consultants seeking to advise troubled developers. Read the rest of this entry »

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Posted via web from The Newport Beach Lifestyle

Can business credit be used for home buying?

Tonya in Aliso Viejo:
Q. Is it possible to use a business credit report to purchase a home? I would use a combination of my own money and a business credit loan.

A. All lenders you would want to do business with will require a personal credit report. The only exceptions are to foreign nationals who simply do not have a U.S. credit history. Our industry is so paranoid that when you say you don’t want to provide it, they would wonder what you were hiding. That would make them want it all the more.

If the reason you do not want to show them your personal credit report is derogatory items that lowered your score, you just can’t dodge that. If that’s the case, you need to engage in a credit rehabilitation program. You can do this on your own. Learn more on the Internet. My favorite, for whom I also write, is www.credit.com.

The rules on using business funds are more complex. Although the cash is from the business, you are borrowing the down payment which has always been a “no-no.” To become a homeowner you should have shown that you have the capability to save money, as demonstrated by your down payment.

If your business is strong enough, you can pay yourself a dividend or more salary and use that for a down payment but it should be profits that you have already made. If there is not enough free cash flow to pay you reasonable earnings to use for qualifying and enough cash for a down payment, then you probably should not be buying a house until it is.

Steve in Westminster asks:
Q. I am 50 years old, married and have a 15-year-old son. We own three properties; two are rentals with total rent collection at $3,700 per month. We currently owe $198,000 on my mortgage, which has an interest rate of 5.25% and payment of $1,104 monthly. It will be paid off in February 2039. (We bought it last year). That is the only payment we have. Should I pay off the loan or am I getting any tax write off on this mortgage? I have assets of about $300,000 and am planning to put $150,000 down on a house. The purchase price is $400,000. I want to use it as another rental property. Any suggestions?

A. Your affairs are complicated enough it makes sense to do a spreadsheet and look at the entire plan for the next 15 years until you are 65. But I hear you asking if you should do an accelerated payoff on the loan on your primary residence. Assuming you have figured out how to pay for your son’s education, it does make sense to devote some extra cash so as to pay off your home. When you retire you will have no monthly mortgage payment obligation to pay on your home with your presumably reduced income. If you are comfortable income-wise rates are such that it is actually advantageous to refinancing into a 15-year loan now. I wouldn’t worry about tax considerations. Who knows what the tax laws or rates will be then.

I’m sure that you will be able to buy another income property at an attractive price and with a large down payment, and you ought to be able to start out with a positive cash flow.

http://mortgage.freedomblogging.com/

Posted via web from The Newport Beach Lifestyle