There were 44 single family homes and 88 condo's, new listings for sale in the city of Irvine, California under $950,000 during the month of October 2009.
There were 5 single family residences closed escrow during that period with an average listing price of $715,540 that closed escrow for $707,000. That's a 1% drop from the reduced listing price and a 2% drop from the original listing price. The average home size was 2116 square feet which calculates to $333 per square foot. The average percentage price change from September 2009 through October 2009 was up 3.2% with slightly larger square footage.
As for condo's, there were 5 that closed escrow with an average listing price of $592,360 and closed for $575,900. That's a 3% drop from the reduced listing price and a 5% drop from the original listing price. The average home size was 1618 square feet which calculates to $357 per square foot, sales price. The average percentage price change from September 2009 through October 2009 was up 25% with somewhat larger square footage.
In the month of October there were 2,076 single family residence and condo's closed sales in Orange County, of which 48% had special conditions such as short sales, pre-foreclosure, bank owned (REO) etc. and are considered distressed sales. Special condition sales take infinitely longer to close and have multiple offers due to the fact that investors have returned to the market place and the lenders are selecting the strongest offer, in a lot of cases all cash. The price trend is slightly up do to the activity at the low end.
If you are looking to study the on line market for a particular area with specific criteria, I am able to set up a web site for you so when a new listing enters the market you receive an Email alerting you to that fact. There you will be able to review photo's, catalogue, sort and save those homes into folders marked favorites, possibilities, or rejects. If the price changes you will also be notified . This allows you to follow the market trends as prices continue to drop without calling many real estate offices for information. This service is free and is my way of demonstrating how I may earn your business when you are ready to buy or sell. Contact me with your particulars at gerry@gerrygoodman.com
For my market analysis and other useful information please read my newsletter linked below. If you have any questions please don't hesitate to contact me.
This is a wonderful time for qualified buyers to be in the marketplace. Interest rates are still quite low and with much lower home prices. Orange County Real Estate has become quite affordable!
About Gerry Goodman:
Rather than list my credentials or a list of satisfied customers, I thought I would let you know about my business philosophy and what you can expect when we work together.
Although relocating can be exciting, the process can sometimes be quite strenuous and unnerving.
As you enter the marketplace and begin to ponder what agent or real estate company to go with, I would like to share the following thoughts with you. Real estate is a personal service business, so just don't hire a company hire a person. Expect knowledge and skill from the realtor that you hire in the areas of financing, contracts, negotiating and marketing. Select a Realtor with a track record of producing results. Buying or selling a home should not be left to chance and is not something that you let a friend try. Trust the buying or selling of your home only to a professional and accept nothing less than excellence.
As a real estate broker with access to all homes listed for sale in Southern California, I am prepared to keep you on top of the market thru Email and phone updates. This eliminates the need for you to visit other web sites for answers to specific questions regarding a particular area or property. I will also set up a personal web site with your search criteria, for you to review, sort and catalogue all new listings. Every time a new listing hits the market you will automatically receive an Email telling you to go to the web site. It provides you the capability to stay in touch with the current housing inventory and observe the pricing trends and you will find it user friendly as we search for your new home.
As a full time real estate professional, my aim is to represent you interests through the entire process and to help make the transition as smooth as possible.
Whenever you or your friends are looking to buy or sell a home or investment property, I promise results and communications along the way. I invite you to contact me so we may explore how I may earn your business.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
