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Harrison K. Long's Blog

By Harrison K. Long | Broker in Irvine, CA
  • Irvine CA Homes, Pricing and Fair Market Value

    Posted Under: General Area in Irvine, Home Selling in Irvine, In My Neighborhood in Irvine  |  April 1, 2014 12:09 PM  |  627 views  |  No comments

    Irvine CA Homes, Pricing and Fair Market Value

    Irvine CA home prices are – like other areas of Orange County – determined with focus on comparable sales and fair market value.

    493 Irvine homes are listed for sale as of today.

    Irvine homes for sale are staying on the market longer these days on average as compared with same time last year when the market was rocket fast.

    Average home sold prices at the following Irvine communities so far this year 2014 should be a guide for more information on fair market value:

    • Airport Area Irvine – 27 homes sold – average sold price of $542,963
    • El Camino Real Irvine – 21 homes sold – average sold price of $615,905
    • Northpark Irvine – 27 homes sold – average sold price of $900,667
    • Northwood Irvine – 64 homes sold – average sold price of $675,308
    • Oak Creek Irvine – 10 homes sold – average sold price of $746,369
    • Portola Springs Irvine – 27 homes sold – average sold price of $802,392
    • Quail Hill Irvine – 21 homes sold – average sold price of $895,452
    • Shady Canyon Irvine – 7 homes sold – average sold price of $4,901,453
    • Turtle Ridge Irvine – 20 homes sold – average sold price of $1,311,999
    • Turtle Rock Irvine – 20 homes sold – average sold price of $1,118,050
    • University Park Irvine – 13 homes sold – average sold price of $727,377
    • Stonegate Irvine – 14 homes sold – average sold price of $675,077
    • Westpark Irvine – 36 homes sold – average sold price of $636,675
    • Woodbridge Irvine – 59 homes sold – average sold price of $661,227
    • Woodbury Irvine – 28 homes sold – average sold price of $728,475
    • Irvine – all areas – 460 homes sold – average sold price of $809,007

    Irvine CA home sellers are facing increased competition from other sellers who are smart about fair market value and pricing.

    “In arriving at price, a seller needs to diligently look at the comparable sales data and carefully determine the Fair Market Value for their home. The Fair Market Value is what buyers are willing to pay for a home.” (as opined by Steven Thomas at his “Reports on Housing” for Orange County yesterday).

    Even though Irvine continues to see good home buying activity, homeowners who are serious about selling will look at comparative sold information – and what fair market value buyers are willing to pay – and not on what sellers want. 


    By Harrison K. Long. This is information from CRMLS multiple listing service and is for homes resold by all agents and brokers. We provide 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. Connect with us with your questions about home prices and values at Irvine, Newport Beach, Costa Mesa, and other Orange County CA cities and areas.

  • Irvine CA Home Sales and Prices for October 2013

    Posted Under: Market Conditions in Irvine, Home Selling in Irvine, In My Neighborhood in Irvine  |  November 19, 2013 10:32 PM  |  474 views  |  No comments
    Irvine CA home selling numbers for October 2013 moderated in favor of buyers who now have better choice and opportunities than they had last year and six months ago.

    Irvine CA home sales and prices for October 2013

    263 Irvine homes sold with closings during October 2013, which is down from six months ago and same time last year October 2012.

    Irvine home selling numbers for October 2013:

    92602 zip area – median sold price of $835,000 – 25 homes sold – which is up 19% from last year

    92603 zip area – median sold price of $952,000 – 29 homes sold – which is down 12% from last year

    92604 zip area – median sold price of $605,000 – 31 homes sold, which is up 47% from last year

    92606 zip area – median sold price of $602,500 – 19 homes sold, which is down 5% from last year

    92612 zip area – median sold price of $602,000 – 39 homes sold, which is up 39% from last year

    92614 zip area – median sold price of $578,500 – 18 homes sold, which is down 21.7% from last year

    92618 zip area – median sold price of $732,750 – 50 homes sold, which is down 19.4% from last year

    92620 zip area – median sold price of $716,500 – 72 homes sold, which is down 7.7% from last year

    Irvine now has 500 homes listed for sale, which is up more than double since March and April of this year.

    Irvine homeowners like their home selling prices – while buyers now have much better selection than they did same time last year.

    Irvine CA home sales and prices for October 2013

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    By Harrison K. Long – Professional real estate representative, Realtor and real estate broker, Coldwell Banker Residential Brokerage, Newport Beach and Orange County, CA – CA BRE 01410855. Source of some information is CRMLS and OCRegister.com, and this is for homes sold by all brokers and agents.

    Coldwell Banker residential brokerage

    Coldwell Banker previews

  • Newport Beach CA Real Estate Update Shows Good Opportunities for Buyers, Sellers & Investors

    Posted Under: Home Buying in Newport Beach, Home Selling in Newport Beach, In My Neighborhood in Newport Beach  |  November 7, 2013 10:17 AM  |  441 views  |  No comments

    Newport Beach CA Real Estate Update Shows Good Opportunities

    Newport Harbor views

    Newport Beach CA is one of the most sought-after cities for California residential living and investment.

    Newport can boast of having some of the most expensive homes for sale listings anywhere.

    69 Newport Beach homes sold during October 2013 this year – with average sold price at $1,729,482 – including single family and condo homes. Average interior size of the sold homes was 2,750 sf.

    The most expensive Newport Beach home sold during October this year was on Balboa Island at 1604 S. Bay Front with selling price of $11,000,000.

    The most affordable Newport Beach home during October this year was a studio on Cagney Lane for $181,000.

    95 Newport Beach homes sold same time last year during October 2012 – with average sold price of $1,599,197. So home selling numbers were down during this year for October 2013 at Newport Beach – while home sold prices were up.

    Newport Beach has 299 homes now listed for sale – with lots of excellent opportunities for buyers – and continuing with solid selling prices expected for the sellers.

    Balboa Island listings – click here

    Newport Beach listings – click here

    Newport Heights listings – click here

    Eastbluff listings – click here

    Balboa Peninsula listings – click here

    Corona del Mar listings – click here

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    By Harrison K. Long – Professional real estate representative and Realtor, Coldwell Banker Residential Brokerage, Newport Beach and Orange County, CA – CA BRE 01410855. Source of some information is CRMLS and is for homes listed and sold by all brokers and agents.

    Coldwell Banker residential brokerage

    Coldwell Banker previews

  • Spectacular Grand Opening of New Homes for Sale at Pavilion Park – Great Park Neighborhoods – September 28, 2013

    Posted Under: Home Buying in Irvine, In My Neighborhood in Irvine, Property Q&A in Irvine  |  September 30, 2013 10:53 PM  |  589 views  |  No comments

    Grand Opening of New Homes for sale at Pavilion Park – OC Great Park Neighborhoods – September 28, 2013

    Harmony at Pavilion Park

    “Harmony” new homes at Pavilion Park

    This is opening of first phase of 726 new homes at “Pavilion Park” – OC Great Park Irvine.

    “Springhouse” new homes at Pavilion Park

    “Whistler” new homes at Pavilion Park Springhouse homes at Pavilion Park

    New homes at OC Great Park

    (photo images from the builders at “Great Park Neighborhoods”)

    History Lessons from the Great Park – see link to OCRegister.com article – September 27, 2013

    This new homes grand opening at Great Park Neighborhoods – Irvine CA – will be followed up by more promotion by the developer “FivePoint Communities” and its offer to provide $174 million to the city of Irvine for build out the 227-acre Great Park Fields golf course ($23 million), 178-acre wildlife corridor ($13 million), 176-acre sports complex ($115 million) with public golf course, 45-acre wooded area with trails ($17 million), 35-acre Upper Bee Canyon ($4 million), and study for a cultural terrace ($2 million).

    The building out of this phase of the OC Great Park is expected to take about five years.

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    Source of information is FivePoint Communities and its “Great Park Neighborhoods”.


    Connect with us – and meet at Pavilion Park - ”Great Park Neighborhoods” - We will help you as buyers with information and introduce you to the builders and their presentations.

    CONNECT WITH US

    By Harrison K. Long – Professional real estate representative and Realtor, Coldwell Banker Previews, Orange County, CA – CA BRE 01410855

  • Eastbluff at Newport Beach Homes and Real Estate Market Update

    Posted Under: Market Conditions in Newport Beach, In My Neighborhood in Newport Beach, Property Q&A in Newport Beach  |  July 7, 2013 2:44 PM  |  928 views  |  No comments

    Eastbluff at Newport Beach Homes and Real Estate Update – July 1, 2013

    Back Bay views from Eastbluff

    Eastbluff at Newport Beach is a community with homes designed and built between 1966 and 1978, which have been very popular with buyers and residents over the years.

    Eastbluff is located on the east side of Newport Beach’s Upper Back Bay – and many of the homes have views of the bay and sunsets.

    Eastbluff real estate update for second quarter 2013 shows continued buyer demand at this community.

    For first six months of this year from January 1 to June 30, 2013 – Eastbluff at Newport Beach had 50 homes sold.

    Average sold price was $1,054,187 during that time – and average interior size was 2,125 SF.

    During same time last year – first six months of 2012 – Eastbluff sold 49 homes – with average sold price of $829,285.

    So Eastbluff homes and real estate got healthy so far this year with price increase of 27 percent – as compared with last year.

    Eastbluff at Newport Beach

    Eastbluff now has 9 homes active and listed for sale on the MLS – which range from Bluffs condo home with asking at $799,000 – up to an estate home on Carob with asking price at more than $3 million.

    Eastbluff at Newport Beach is getting balanced these days with opportunities for both buyers and sellers.

    Eastbluff park

    Eastbluff at Newport Beach is getting balanced these days with opportunities for both buyers and sellers.

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    CONNECT WITH US

    Connect with Us for information on why now continues to be an excellent time for Eastbluff and Newport Beach owners to list and sell.

    Source of some information is CRMLS.

    People ask us about listing and sale of Newport Beach CA homes and real estate. ~ 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 Newport Beach and Orange County, CA.

  • Top Reasons to Sell Your Orange County CA Home in this Market

    Posted Under: Home Selling in Orange County, In My Neighborhood in Orange County, Property Q&A in Orange County  |  June 30, 2013 2:27 PM  |  806 views  |  No comments

    Top Reasons to Sell Your Orange County CA Home in this Market

    Selling your Orange County CA home

    1. Moving for family or financial reasons.

    2. Moving up or to a larger home – Good Orange County home selling prices present sellers with options to clear their mortgage and move up to a bigger or better home.

    3. Top Selling Prices – Home sellers have advantage at Orange County, and selling now while demand is high and supply is low will get you a great selling price. Supply of Orange County CA homes listed for sale dropped to lowest level in more than 8 years. Orange County homes continue to sell quickly, and total housing inventory is below 1.5 months supply.

    4. Excellent mortgage rates – More advantage for Orange County sellers - Lower long-term interest rates set by the FED inspire lower mortgage rates, which continues to be good news for buyers and seller. Sellers always benefit from seeing good rates and more qualified buyers.

    5. Save on Income taxes - Protect your property value gain from income taxes. You should be protected on the gain of sale of your home to the extent of $500,000 for a married couple or $250,000 for an individual. This is for home owners only (not investors) who must live in the home for two or more years out of the last five years to qualify.

    Top reasons for selling in this market

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    Contact us for a free market evaluation of your Orange County CA home and real estate.

    People ask us about listing and sale of Newport Beach CA homes and real estate. ~ 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 Irvine and Orange County, CA.

    Contact us about selling your home

  • Orange County CA Real Estate Investors Embracing Opportunities

    Posted Under: General Area in Orange County, Foreclosure in Orange County, In My Neighborhood in Orange County  |  September 24, 2012 3:02 PM  |  516 views  |  No comments


    REAL ESTATE INVESTING

    Orange County CA has lots of real estate investors and capital groups who have taken advantage of big buying opportunities.  Orange County, CA

    1,423 Orange County properties were sold to 3rd party investors at trustee auction foreclosure sales during the first seven months of this year.

    About six percent of Orange County properties sold so far this year have been at these trustee sale auctions to third parties after foreclosure.

    OC foreclosure outcomes July 2012

    1,567 Orange County properties went back to lenders as REOs during that same time – and were not purchased at trustee auction sales.

    2,844 Orange County REO bank owned properties have been sold so far this year – as of September 20, 2012 – with average sold price of $385,919 – according to CRMLS – and many of these were purchased by investors.

    Orange County’s largest cities have properties now scheduled for trustee auction sales after foreclosure:

    Anaheim – 666 properties
    Huntington Beach – 277 properties
    Irvine – 348 properties
    Lake Forest – 120 properties
    Mission Viejo – 262 properties
    Newport Beach – 131 properties
    Orange – 356 properties
    San Clemente – 156 properties
    Santa Ana – 571 properties

    Contact us here for more information about Orange County real estate investing – and Orange County homes and properties now scheduled for trustee sale auctions.

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    CB previews logo

    Source of some information is ForeclosureRadar.com and CRMLS.

    Contact us about listing and sale at Orange County CA homes and real estate.

    Professional REALTOR® agent representation and help for sellers, buyers, investors, property owners, 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.

    About Harrison K. Long

    Businessman, Professional Realtor agent, GRI, Broker associate, Coldwell Banker Residential Brokerage - Orange County, California - CA DRE 01410855 - Helping property owners, estate trustees, executors and administrators, fiduciaries, bankers, investor group managers, with listing and sale of properties - helping people with their best decisions about homes and real estate - Member at the Orange County Association of REALTORs (serving on its board of directors for 2012); California Association of Realtors (serving on its board of directors for 2011-2102); National Association of Realtors - Also an attorney member of the California State Bar Association #69137 - Contact by telephone or text at 949-701-2515 
    This entry was posted in Foreclosures, Orange County real estate, Real estate investing, Short sales and taggedauctions sales after foreclosure, Buying foreclosures, CA foreclosure laws, Costa Mesa CA real estate, Costa Mesa short sales, Distressed properties, Explore OC homes, Explore the OC, forec, Foreclosures, Investors buying foreclosures, Investors determine value, Irvine foreclosures, Live at Orange County, Newport Beach investors, Non-judicial foreclosure, OC home value guide, OC real estate investors, Orange County foreclosures, Orange County investors, Orange County real estate, Orange County REALTOR®, Real estate investing, REALTOR®, REALTOR® helping sellers, REALTOR® value, Realtors and brokers, Top OC short sales.
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