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2023 START
The housing market in 2023 is expected to pick up where it left off in 2022, at a slightly sluggish pace. While demand has increased, the ongoing inventory crisis continues to be a challenge for buyers. Low mortgage rates have led many potential sellers to stay in their current homes, which has limited the number of homes for sale. Mortgage rates have dropped from 7.25% in November to around 6% today, and economists predict that rates may fall even further, potentially reaching below 5.5% by year end. If mortgage rates recede to these levels, housing will stabilize, and inventory and demand will both increase.
BUYERS: MORE HOMES ARE COMING! Buyers are taking a more cautious approach when purchasing homes. They are considering factors such as condition, location, upgrades, amenities and age to arrive at a price they are willing to pay for a home. As more homes come on the market in the next two months, demand levels and buyer competition is expected to rise.
SELLERS: PROPER PRICING IS CRUCIAL! If you are holding out for the spring market in anticipation of a quick sale and a price higher than the last comparable sale, that simply will not happen. Sellers will be looking at a much more sluggish market with muted demand and longer market time as buyers are taking their time to purchase.
Included below is your Irvine Real Estate Market snapshot. I am your local resource for all your real estate needs. Referrals are always appreciated.
- Ellie Yung, Your Orange County Real Estate Specialist
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October 2022 - January 2023
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December 2021 - December 2022 (12-Month Lookback)
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Market Action Index (MAI)
Comparison rate of sales versus inventory
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The housing market has reached a stable point in terms of sales to inventory in recent weeks. However, the inventory remains low, keeping the market in a seller's market. It is important to keep an eye on changes in the Market Action Index (MAI) as an increase in activity may indicate that prices will start to rise again.
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To obtain a complimentary instant home valuation and quick peek at the market activity near your home, please click the button below.
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Coming Soon by 
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FOR LEASE
59 Tavella, Lake Forest - Offered At $4,900/Month
3 Bedroom | 2.5 Bath | 2,004 SqFt Living | 7,009 SqFt Lot
Available March 8th, 2023
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Gorgeous 3 bedroom, 2.5 bath VIEW home on an OVERSIZED 7,000+ Sq Ft Lot in the highly sought after community of Foothill Ranch! With one of the largest yards in the community, this home has everything you've been looking for! CATHEDRAL HIGH CEILINGS, gorgeous terra cotta floors, and large windows that bring in lots of NATURAL LIGHT. You will love the spacious formal dining room and gourmet kitchen that opens to a separate family room. Escape upstairs to find new plush carpeting and 3 SPACIOUS bedrooms. Well appointed MASTER SUITE promises to pamper you in spa-like luxury. Entertain in the NEWLY LANDSCAPED private serene backyard. Massive yard is complete with concrete pavers and grass with STUNNING CITY VIEWS. New Stainless Steel Kitchen Appliances, All New Toilets & Faucets, New Carpeting, New Light Fixtures, New Backyard Landscaping. Enjoy association pools, lavish greenbelts and walking/hiking paths. PRIME LOCATION! This home will not last!
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In Escrow by
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Recent Sales by
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Investment Video Series with
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There will be a new video each week so be sure to subscribe!
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Real Estate Investing: What Type of Investor Are You? Are You Ready to Take the Next Step?
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Ready to take the next step in real estate investing? Learn what type of investor you are and what type of investor you want to be in this video! Discover how to weigh the opportunities and risks in purchasing investments, and how to take on losses. Whether you're a risk-adverse or a full-time flipper, learn how to maximize your returns in the real estate market. Don't miss out, take control of your investments today!
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Unlock the Secret to Achieving Your Dream Home in Years - Learn the Trade Up Strategy Now!
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Want to earn $100,000 - $500,000 profit in 2 years? Learn how with the Trade-Up Strategy! Discover how to gradually "trade-up" every few years to your ultimate dream home. Don't waste money on rent, invest in a home and earn income over the years. Unlock the secret to achieving your dream home in a matter of years, don't miss out!
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What's New with ?
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We had an unforgettable end to 2022 with a fantastic trip to Singapore & Phuket! We had an amazing time feeding and bathing elephants, zip-lining, island hopping and indulging in delicious food. Wishing everyone a happy and prosperous New Year! Cheers to 2023, let's make it a memorable one!
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