MLS Irvine Closed Sales since 1/1/2006

NEW -> Contingent Buyer Assistance Program
All I can say is wow. Where do all of the 100% down people come from and how do I get signed up for their approach to finances? Even all of the homes in the "green zone" seem to be using between 20 and 50% !?! Thanks for all of the work that it must have taken to compile all of that!



On a side note however, doesn't this show just how resilient the communities might be to price reductions? Since so many are putting well above 20% (not to mention the scores and scores of 100% cash buyers)... where will the pressure to sell come from? The first thought I had was, these people can simply live in their homes and ride out the crisis... making it much less of a crisis...?
 
It's already been said on here many, many, many, many times before. Rich Chinese buy homes with cash. But all you doom and gloomers did not believe.
 
Considering that all of five paid cash in the month of January, and IR2 hasn't updated Feb, March, or April yet, it seems to me the doom and gloomers were right. But you're a troll so maybe I should take my own advice.
 
[quote author="asianinvasian" date=1209943991]It's already been said on here many, many, many, many times before. Rich Chinese buy homes with cash. But all you doom and gloomers did not believe.</blockquote>


No, I always believed. But, it's probably just a mix.
 
This is an amazing resource, IrvineRealtor.



I noticed that an entry @1/10 (21 Summer House), has a list price of 1.8 million and a sale price of 9.8 million.



I have added a column that calculates price/square foot. I thought that there would be many more sales under $300/sq ft. Maybe in May?
 
I can add that in the spreadsheet. Good to hear.



If anyone else is looking for other info that I haven't provided, speak up... help me help you



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Per requests:



Added "autofilter" function on top of columns

Price/sqft

Averages (still inflated until April is completed)

Max value

Min value



March is complete now.


 
[quote author="irvinehousingblog" date=1209969440]not sure if this list is valid or bogus. Some of the homes that i know were not included.</blockquote>


This is everything from the MLS closed 1/1/2008 - 5/2/2008.

Many (most) new homes are not on MLS and therefore will not show up. Many of these homes also haven't had APN numbers individually assigned, and may not have public tax info available to perform a loan verification.



If you have other addresses to add, try a PM and I'll see if they're available.
 
You should add a row for the median. The median on that spreadsheet is $623,750, and the median $/SF is $365/SF. Also interesting was the median loan was $417,000: the conforming limit.
 
>> If anyone else is looking for other info that I haven?t provided, speak up? help me help you



wow great info, thanks ir!



i took a copy of the spreadsheet and separated the street number from the street name so that way i can sort and find houses by street.



anyone else find that useful? if so, maybe you can do that going forward? :) i can send the excel formula if needed.
 
Thanks Irvine Realtor, this is good stuff. It lends credence to the reasoning that there are people with cash waiting on the sidelines. It will be interesting to see how this affects the overall downward trend in Irvine.
 
57% average down payment, if true, suggests that there is a whole bunch of money (Asian?) on the sidelines ready to pounce on Irvine RE. Thank you IrvineRealtor for your analysis. This is very interesting!
 
Emoh88,



Unfortunately this may be true. As the Irvine home price will go down, so will the value of our dollar (will go down the tubes), which makes a very attractive buying opportunity for the Chinese living in Asia. I feel that we are going to have foreign competition from asians abroad wanting to buy in Irvine. I've been reading several articles where Chinese and Koreans are taking advantage of the weakening dollar by buying up real estate in Orange County as their Asian currency is strengthening against the dollar.



The Chinese Yuan will most likely appreciate the most against all other currencies (ex. Euros, Swiss Francs, Australian Dollar). As the dollar will continue to weaken, the Irvine RE will look will very cheap to the Chinese looking from abroad. Rich Chinese, which is growing very very fast, pay homes in cash. This I know is true.
 
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