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POWERFUL BEGINNING: With the holiday season behind us, inventory is expected to rise in January and February! Buyer demand has also surged as mortgage rates have dropped and now hovering around 6.5%, improving housing affordability. Mortgage rates are expected to gradually decrease throughout the year as inflation continues to decline.
ATTENTION BUYERS! Waiting for the market to slow down and negotiations to favor buyers is not the solution. As mortgage rates drop, buyer competition will increase which means prices will increase. Act now while there is less competition and secure your dream home. You can always refinance your home later when mortgage rates drop.
ATTENTION SELLERS! Seize the opportunity in this thriving market by pricing your home close to the last comparable or pending sale. Careful pricing will enable sellers to tap into the pool of eager buyers awaiting every new home that hits the market. Overpricing homes puts sellers at risk of wasting time on market and decreased activity as they eventually will have to lower the price.
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 2023 - January 2024 (4-Month Look Back)
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December 2022 - December 2023 (12-Month Look Back)
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Market Action Index (MAI)
Comparison rate of sales versus inventory
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Market conditions have been consistently cooling in the past several weeks. However, we’re still in the Seller’s zone and prices have not yet begun to drop. Expect prices to fall if the index falls to the Buyer’s zone.
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11320 Amberdale Drive, Tustin Ranch - Offered At $5,900,000
5 Bedroom | 7 Bath | 6,309 SqFt Living | 25,003 SqFt Lot
OPEN HOUSE SAT (1/27) AND SUN (1/28) FROM 1-4PM
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Stunning Entertainer's paradise within the prestigious 24-hr gated community of Tustin Ranch Estates. This impressive home boasts 5 Bedrooms + Den + Bonus Room, 7 Baths, Main Floor Bedroom and Full Bath, Gym, 8-Car Garage, 24 Owned Solar Panels, Breathtaking Entertainer's Backyard complete with your own Private Pool, Spa, Cabana, Fireplace, Basketball Court, Playground, and Garden all on a 25,000+ SqFt Lot! Green features include 24 owned solar panels, a solar pool heating system, and an EV Car Charger. With a 4-car garage and an additional garage for 4 more cars or an Airstream, this rare dream home, zoned for Award-Winning Tustin Unified Schools, epitomizes luxury living that seldom graces the market!
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22 Shadybend, Irvine - Offered At $3,980,000
4 Bedroom | 4.5 Bath | 4,191 SqFt Living | 5,308 SqFt Lot
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This gorgeous model-like home in The Groves at Orchard Hills offers luxurious living behind the 24-hr guard gates, featuring over $200K in premium upgrades, including 20 owned solar panels, and a premium lot for maximum privacy. The main floor impresses with its Open Floorplan, Chef-inspired Kitchen, Additional Prep Kitchen, and a Great Room that seamlessly transitions to an indoor/outdoor California Room. The serene backyard features stone pavers, a built-in BBQ, and a tranquil waterfall. There's also a convenient Main Floor Guest Bedroom and Full Bath. Upstairs, you'll discover a spacious Loft, a well-appointed Master Suite with an oversized bath and walk-in closets, along with two more spacious bedrooms and their own baths. The attached 2-car garage offers built-in storage and epoxy floors, and the property is within walking distance of Orchard Hills School and Shopping Center. This home is a hidden gem!
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1301 Pinehurst, Santa Ana - Offered At $1,625,000
5 Bedroom | 3 Bath | 3,349 SqFt Living | 8,146 SqFt Lot
OPEN HOUSE SAT (1/27) AND SUN (1/28) FROM 1-4PM
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Nestled in Santa Ana's Riverglen gated community, this charming home offers privacy on a premium corner lot at the end of a cul-de-sac. With two main floor bedrooms, 39 solar panels, and an expansive 8,000+ sq ft lot, this property is a rare gem. The open floorplan, gourmet chef's kitchen, and oversized backyard make it perfect for indoor/outdoor entertaining. Upstairs, three spacious bedrooms, including a luxurious master suite, enhance the home's appeal. Complete with a 2-car garage and endless entertainment opportunities, this residence is a rare find in the market!
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Windflower, Aliso Viejo - Offered At $749,000
2 Bedroom | 2 Bath | 1,047 SqFt Living
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Discover the epitome of elegance in this stunning townhome situated in the highly sought-after community of Windflower in Aliso Viejo. Boasting a desirable layout, this residence offers a convenient downstairs bedroom and full bath, providing flexibility and comfort. Upstairs, you'll find another spacious bedroom and bath, ensuring ample space for relaxation and privacy.
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Dropping Rates, Rising Opportunities: What's in Store for Real Estate in 2024?
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Curious about the future of mortgage rates in 2024? Join me as we explore predictions for what's in store for real estate in 2024!
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Upgrade Your Investment Property Tax-Free
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Discover the power of this tax-free growth strategy to supercharge your investments. Don't miss this opportunity to upgrade your investment property tax free!
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We had an amazing whirlwind vacation to Spain and France this holiday season! Our highlights in Spain included enjoying a mesmerizing flamenco show and exploring the Gaudi homes. In France, we indulged in delicious pastries, had a blast at Disneyland Paris, and I thoroughly enjoyed some fabulous shopping. Hope everyone had a great holiday! Happy New Year!
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