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Readers’ home prediction was (almost) right

November 20th, 2009, 12:24 pm · 11 Comments · posted by Erika Chavez, Staff Writer

7tradition1Remember that 3-bedroom West Irvine home that most readers predicted would sell quickly?

Y’all were right.

The West Irvine abode closed escrow 50 days after being listed. It sold for $625,000, which is $26,000 above the original asking price.

Readers said the home would sell within 30-45 days. At 50 days, I say you were close enough…

This transaction gives us an idea of how hot the $600,000 and under market is in Irvine for single family homes. Before we bought our home in Orange, this is a home we would have considered bidding on… but it’s pretty clear we would have been outbid.

That’s the way it goes in 92602… which is no surprise, really. After living there for two years, I know it’s a pretty great community.

What do you think? Are you at all surprised by the final sales price or how quickly this was sold? What does this say about the Irvine housing market in general?

*********************

On another note, the weekend is here! Anyone planning to check out some Open Houses? Redfin is listing 16 of them. Check them out by clicking HERE!

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 11 Comments

  • mike says:
    November 20, 2009 at 1:14 pm

    i don’t think readers were right because 10 days it is a huge discrepentcy. also, that house in Irvine will loose value by next year if you buy for investment.

  • GoHome says:
    November 20, 2009 at 4:17 pm

    So true…we found the $600K market to be very hot until we finally got our place in West Irvine. “Pretty great community” - that’s what we see too…and hoping that it is, in fact!

  • dennis says:
    November 21, 2009 at 7:41 am

    irvine is toxic dump, next yr the buyers wiillbe upside down

  • Bill says:
    November 21, 2009 at 10:39 am

    I’m surprised that somebody got past the paint police and painted it pink.

  • fstedie says:
    November 21, 2009 at 11:01 pm

    dennis is jealous he can’t afford to live in Irvine :(

  • Bill says:
    November 22, 2009 at 9:23 am

    Now why would anybody want to pay a horrendously inflated price to live in a gated (taken anyway you want) beige and boring association-governed (think of the fees) compound?

  • Ken says:
    November 22, 2009 at 1:50 pm

    Actually Irvine is one of the cities that hasnt been hit too bad by the housing market drop mainly because it is a very desireable area.
    Many ethnic groups are attracted to this area which keeps the prices from dropping. I used to live in Torrance which is a very attractive area too.

  • Sidney says:
    November 23, 2009 at 7:41 pm

    That house is really ugly. It is the one-eyed Cyclops of houses. l

  • smartayss says:
    November 24, 2009 at 9:55 am

    What kind of idiot would pay an extra 26k ABOVE the listing price in this market?

    Must be a foreigner……?