Updated MLS Irvine Closed Sales

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Updated Irvine Closed Sales through February 2011 at www.irvinerealtorsite.com. - now "followable" and "likeable" :-)

- Number of sales still down in February... 121 closings, resale (4.32/day).
- February's median price for Irvine dropped further to $499,291.
- 26 were short sales (21.5% of total sales).
- 19 were REO sales (15.7% of total sales).

Closed lease info has been updated through February, as well.
163 leases, prices dropped slightly to $1.57/sqft for the month.

There were 1643 Orange County resales in February.
495 were short sales (30.1%).
325 were REOs (19.8%).

Case-Shiller Graph has been updated with the most recent data, as well.

Do yourselves a favor and don't smoke the Charlie Sheen. It's not as "winning" as he thinks it is.
:-)

-IrvineRealtor

"It's not as important who starts the game as who finishes it."
~ John Wooden
 
IrvineRealtor said:
Updated Irvine Closed Sales through February 2011 at www.irvinerealtorsite.com. - now "followable" and "likeable" :-)

- Number of sales still down in February... 121 closings, resale (4.32/day).
- February's median price for Irvine dropped further to $499,291.
- 26 were short sales (21.5% of total sales).
- 19 were REO sales (15.7% of total sales).

Closed lease info has been updated through February, as well.
163 leases, prices dropped slightly to $1.57/sqft for the month.

There were 1643 Orange County resales in February.
495 were short sales (30.1%).
325 were REOs (19.8%).

Case-Shiller Graph has been updated with the most recent data, as well.

Do yourselves a favor and don't smoke the Charlie Sheen. It's not as "winning" as he thinks it is.
:-)

-IrvineRealtor

"It's not as important who starts the game as who finishes it."
~ John Wooden
Click to expand...

Wow! that is a big drop in median price from Jan to Feb. Are irvine prices finally coming down to earth!!
 
westirvine_loaner said:
IrvineRealtor said:
Updated Irvine Closed Sales through February 2011 at www.irvinerealtorsite.com. - now "followable" and "likeable" :-)

- Number of sales still down in February... 121 closings, resale (4.32/day).
- February's median price for Irvine dropped further to $499,291.
- 26 were short sales (21.5% of total sales).
- 19 were REO sales (15.7% of total sales).

Closed lease info has been updated through February, as well.
163 leases, prices dropped slightly to $1.57/sqft for the month.

There were 1643 Orange County resales in February.
495 were short sales (30.1%).
325 were REOs (19.8%).

Case-Shiller Graph has been updated with the most recent data, as well.

Do yourselves a favor and don't smoke the Charlie Sheen. It's not as "winning" as he thinks it is.
:-)

-IrvineRealtor

"It's not as important who starts the game as who finishes it."
~ John Wooden
Click to expand...

Wow! that is a big drop in median price from Jan to Feb. Are irvine prices finally coming down to earth!!
Click to expand...

You ain't seen nuttin yet!  ;)
 
IndieDev said:
westirvine_loaner said:
IrvineRealtor said:
Updated Irvine Closed Sales through February 2011 at www.irvinerealtorsite.com. - now "followable" and "likeable" :-)

- Number of sales still down in February... 121 closings, resale (4.32/day).
- February's median price for Irvine dropped further to $499,291.
- 26 were short sales (21.5% of total sales).
- 19 were REO sales (15.7% of total sales).

Closed lease info has been updated through February, as well.
163 leases, prices dropped slightly to $1.57/sqft for the month.

There were 1643 Orange County resales in February.
495 were short sales (30.1%).
325 were REOs (19.8%).

Case-Shiller Graph has been updated with the most recent data, as well.

Do yourselves a favor and don't smoke the Charlie Sheen. It's not as "winning" as he thinks it is.
:-)

-IrvineRealtor

"It's not as important who starts the game as who finishes it."
~ John Wooden
Click to expand...

Wow! that is a big drop in median price from Jan to Feb. Are irvine prices finally coming down to earth!!
Click to expand...

You ain't seen nuttin yet!  ;)
Click to expand...

I wonder if TIC will be able to move all the new houses at the price points they are quoting now!
 
Some Portola Springs and Woodbury product has been languishing on the market for months, brand new and ready to move in. So my intuition says no, and that price drops will be forthcoming.
 
To be very honest (I'm not touting the TIC) the prices of TIC homes (attached, detached condo, SFR) whatever it may be
even including HOA and mello roos is defintely lower or on par with resale.

So the question is not about "TIC" having to drop prices, it more about prices having to drop in general across the board.


IndieDev said:
Some Portola Springs and Woodbury product has been languishing on the market for months, brand new and ready to move in. So my intuition says no, and that price drops will be forthcoming.
Click to expand...
 
westirvine_loaner said:
IrvineRealtor said:
Updated Irvine Closed Sales through February 2011 at www.irvinerealtorsite.com. - now "followable" and "likeable" :-)

- Number of sales still down in February... 121 closings, resale (4.32/day).
- February's median price for Irvine dropped further to $499,291.
- 26 were short sales (21.5% of total sales).
- 19 were REO sales (15.7% of total sales).

Closed lease info has been updated through February, as well.
163 leases, prices dropped slightly to $1.57/sqft for the month.

There were 1643 Orange County resales in February.
495 were short sales (30.1%).
325 were REOs (19.8%).

Case-Shiller Graph has been updated with the most recent data, as well.

Do yourselves a favor and don't smoke the Charlie Sheen. It's not as "winning" as he thinks it is.
:-)

-IrvineRealtor

"It's not as important who starts the game as who finishes it."
~ John Wooden
Click to expand...

Wow! that is a big drop in median price from Jan to Feb. Are irvine prices finally coming down to earth!!
Click to expand...

I think it is more a testament to how crappy the median price is as an indicator over the short term.  I'm much more intent on watching the Case-Shiller Index numbers.  Even though they are late, they are the best indicator I think we have at our disposal.  Note that in all of the areas covered, that there was a drop. 

We will see what the newer numbers bring...
 
Updated Irvine Closed Sales through March 2011 at www.irvinerealtorsite.com. - now "followable" and "likeable" :-)

- Number of sales back up in March... 191 closings, resale (6.16/day).
- March's median price for Irvine back up to $548,000.
- 36 were short sales (21.5% of total sales).
- 27 were REO sales (15.7% of total sales).

**of note: $769/sqft in The Plaza!?!**

Closed lease info has been updated through March, as well.
198 leases, prices at $1.59/sqft for the month.

There were 2282 Orange County resales in March.
553 were short sales (24.2%).
452 were REOs (19.8%).

Case-Shiller Graph has been updated with the most recent data, as well.

-IrvineRealtor

Go Padres!
 
Updated Irvine Closed Sales through May 2011 at www.irvinerealtorsite.com. - now "followable" and "likeable" :-)

- Number of sales in May... 186 closings, resale (6.00/day).
- May's median price for Irvine up again to $560,000.
- 40 were short sales (21.5% of total sales).
- 16 were REO sales (8.6% of total sales).

Closed lease info has been updated through May, as well.
228 leases, prices creeping up to $1.61/sqft for the month.

There were 2306 Orange County resales in May.
566 were short sales (24.5%).
382 were REOs (16.6%).

Case-Shiller Graph has been updated with the most recent data, as well.

-IrvineRealtor

Go Bruins and Mavs...
 
Updated Irvine Closed Sales through July 2011 at www.irvinerealtorsite.com. - now "followable" and "likeable" :-)

- Number of sales in July... 164 closings, (5.29/day).
- July's median price for Irvine down to $548,847.
- 32 were short sales (19.5% of total sales).
- 10 were REO sales (6.1% of total sales).

Closed lease info has been updated through July, as well.
286 leases, prices up seasonally to $1.66/sqft for the month.

There were 2214 Orange County resales in July.
498 were short sales (22.5%).
305 were REOs (13.8%).

Case-Shiller Graph has been updated with the most recent data, as well.

-IrvineRealtor

Thanks again for the opportunity to help.
 
Updated Irvine Closed Sales through September 2011 at www.irvinerealtorsite.com. - now "followable" and "likeable" :-)

(catching up after not reporting for August)

- Number of sales in August... 193 closings, (6.23/day).
- August's median price for Irvine down to $540,000.
- 37 were short sales (19.2% of total sales).
- 19 were REO sales (9.8% of total sales).

- Number of sales in September... 148 closings, (4.93/day).
- September's median price for Irvine down to $497,500.
- 43 were short sales (29.1% of total sales).
- 14 were REO sales (9.5% of total sales).

Closed lease info has been updated through September, as well.
230 leases, prices down seasonally to $1.63/sqft for the month.

And for those of you keeping track at home...

There were 2486 Orange County resales in August.
555 were short sales (22.3%).
376 were REOs (15.1%).

There were 2168 Orange County resales in September.
532 were short sales (24.5%).
343 were REOs (15.8%).

Case-Shiller Graph has been updated with the most recent data, as well.
Every area that I track increased through July's sales... except Las Vegas.

-IrvineRealtor

Thanks again for the opportunity to help. Go Chargers.
 
Updated Irvine Closed Sales through October 2011 at www.irvinerealtorsite.com. - now "followable" and "likeable" :-)

Number of sales in October... 143 closings, (4.61/day).
- October's median price for Irvine back up to $505,000.
- 39 were short sales (27.3% of total sales).
- 14 were REO sales (9.8% of total sales).

Closed lease info has been updated through October, as well.
184 leases, prices up slightly to $1.64/sqft for the month.

And for those of you keeping track at home...

There were 2045 Orange County resales in October.
498 were short sales (24.4%).
322 were REOs (15.7%).

Case-Shiller Graph has been updated with the most recent data, as well.
Chicago, Denver, and Boston showing the most growth over the past year...
Las Vegas is the loss leader.

-IrvineRealtor

Thank you again for the opportunity to be of service, and please hold on to the snap, Mr. Rivers.

P.S. Congrats to Mr. FCB for purchasing 23 Needle Grass at that really strange sales price!
 
Thanks for the data IR2. It appears that the OC/LA market is down only down 4% from August 2010 and up 2% from August 2009. It appears that May 2009 was the bottom for the LA/OC market and there is strong support for the index number of 170.

The Chicago market in the other hand was a free fall until April 2011 bottom of 110. A nice bounce of 8% in four months.

I am an optimist when it comes to real estate and I believe the bottom is already in for LA/OC and Chicago market. I don't think OC/LA will ever drop below the May 2009 low of 159 (which i believe is the bottom).
 
23 Needle Grass

Damn! $8,888,888 in cash for a 14,000 square ft custom in Shady Canyon. Who ever this FCB is... " Can i ask where and how in the world did you come up with this kind of dough?" Brotha.. you are the FCB pimp of all pimps.
 
I read various opinions that say that 2009 was the bottom... but I didn't see that in the range of homes I looked at. In fact, many of those homes are priced lower now... esp South County.

Interesting how that works.
 
IHO,

LA/OC is still 6% above the April 2009 low. I just don't think we will go below the April 2009 index. We are now 5 years into the real estate crash. Builders are not building and eventually the supply will be absorbed by FCBs and others. It is all about supply and demand. Perhaps the bottom is not in in places like Detroit, but I believe that April 2009 is the bottom for LA/OC.

If there was a slight chance that Irvine SFR ppsf would get down to $250 ppsf I am sure that Patstar and I would have waited and bought in Irvine. IR2 just quoted the new median at $500,000 for Irvine. I highly doubt Irvine will drop 6% from this number.

IHO, you want to make some money in the currency market? Short the Euro :)
 
Panda said:
23 Needle Grass

Damn! $8,888,888 in cash for a 14,000 square ft custom in Shady Canyon. Who ever this FCB is... " Can i ask where and how in the world did you come up with this kind of dough?" Brotha.. you are the FCB pimp of all pimps.
Click to expand...

Corruption and unethical conducts in business practices. Imagine these are the parents of children attending Irvine schools.
 
IrvineRealtor said:
Updated Irvine Closed Sales through October 2011 at www.irvinerealtorsite.com. - now "followable" and "likeable" :-)

Number of sales in October... 143 closings, (4.61/day).
- October's median price for Irvine back up to $505,000.
- 39 were short sales (27.3% of total sales).
- 14 were REO sales (9.8% of total sales).

Closed lease info has been updated through October, as well.
184 leases, prices up slightly to $1.64/sqft for the month.

And for those of you keeping track at home...

There were 2045 Orange County resales in October.
498 were short sales (24.4%).
322 were REOs (15.7%).

Case-Shiller Graph has been updated with the most recent data, as well.
Chicago, Denver, and Boston showing the most growth over the past year...
Las Vegas is the loss leader.

-IrvineRealtor

Thank you again for the opportunity to be of service, and please hold on to the snap, Mr. Rivers.

P.S. Congrats to Mr. FCB for purchasing 23 Needle Grass at that really strange sales price!
Click to expand...

Thanks for the great info, is there anyway to show the neighborhood on this spreadsheet like the rental info (i.e. Quail Hill, Northwood)

regards
 
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