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THE TIME IS NOW: Even with mortgage rates soaring above 7%, homes remain scarce, multiple offers are the new normal, and property values are skyrocketing. As the economy cools, expect mortgage rates to drop, igniting an even fiercer housing market frenzy.
ATTENTION BUYERS! Many potential buyers are biding their time, hoping for a more affordable market. Yet, despite higher rates and low affordability, the housing market remains remarkably resilient. New buyers are astounded by the intense competition: packed open houses, bidding wars, and prices soaring above asking, especially in lower price brackets. With active inventory up 3% in recent weeks, the Spring Housing market looms, traditionally peaking in May, followed by April and March. Waiting only invites fiercer competition and greater challenges. Don't delay—act now and dive into the market!
ATTENTION SELLERS! Demand shot up by 6% in the past few weeks, surpassing the growth in supply, making it a scorching seller's market. Irvine's inventory is at an all-time low, with just 149 homes available across all price points. Packed open houses, bidding wars, and prices soaring above asking are the norm. Act fast—list your home now and seize the opportunity to fetch top dollar!
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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December 2023 - March 2024 (4-Month Look Back)
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February 2023 - February 2024 (12-Month Look Back)
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Market Action Index (MAI)
Comparison rate of sales versus inventory
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The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.
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8 Marysville, Irvine - Offered At $1,835,000
3 Bedroom | 2.5 Bath | 2,279 SqFt Living | 3,876 Sq Ft Lot Size
On Market March 27, 2024
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Nestled within the highly sought after Guard-Gated community of Northpark in Irvine, this Stunning Turn-Key Home offers a serene retreat. Located on a peaceful tree-lined street, this inviting home features 3 Bedrooms plus an Office and 3 Baths. As you enter the home, you will love the inviting open floorplan featuring soaring ceilings, crown molding throughout, hardwood and tile flooring, plantation shutters, and lots of natural light. Stunning Chef-inspired kitchen features white cabinetry, granite countertops, lots of storage, and a huge kitchen island that overlooks the family room. This meticulously maintained home presents a rare opportunity at this price!
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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 $1,550,000
5 Bedroom | 3 Bath | 3,349 SqFt Living | 8,146 SqFt Lot
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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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Northpark Square, Irvine - Offered At $2,998,000
4 Bedroom | 3 Bath | 3,703 SqFt Living | 5,940 Sq Ft Lot Size
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Tucked away in the gated Bella Rosa community within Northpark Square, this home offers a blend of sophistication and comfort. A grand entrance leads to an open floorplan with high ceilings, travertine tile flooring, and ample natural light. The main level features a convenient downstairs master suite with a luxurious spa-like bath and two guest bedrooms with a shared bath. Upstairs, a spacious loft and another bedroom with an en suite bath await. Don't miss this rare off-market opportunity! Contact us today for a private showing.
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ENTER TO WIN Our Home Shopping Spree Giveaway for a chance to Win One of These Prizes Compliments of Ellie Yung Real Estate & Coldwell Banker Realty!
$500 TARGET GIFT CARD | 6 Winners
$300 TARGET GIFT CARD | 6 Winners
$200 TARGET GIFT CARD | 15 Winner
GOOD LUCK!
Entry Dates: March 12-31 | Drawing Date: On or around April 1st
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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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There will be a new video each week so be sure to subscribe!
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Buyer's Regret: A $60,000 Mistake You Won't Believe
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I'm sharing one of the most jaw-dropping stories from my career. Discover the shocking tale of Buyer's Regret: A $60,000 Mistake You Won't Believe. Picture this: a $2 million listing in Irvine with over 10 offers, a smooth escrow process, and then... a sudden cancellation that left everyone stunned. What went wrong? Tune in to find out how a buyer's impulsive decision cost them a hefty $60,000 and taught us all a valuable lesson about the importance of ensuring all parties are on board before making a purchase. Don't miss this eye-opening tale!
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Landlord’s Guide: Do I need a Property Management Company?
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In my latest video, I tackle a common question among new landlords: Is a property management company necessary? I share my personal insights on why I don’t have one for my properties and offer practical advice on handling common issues like water leaks. Whether it's having reliable professionals on speed dial or ensuring you have a home warranty for service-related concerns, I break down the essentials that empower property owners to manage their rentals effectively.
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This past month has been a whirlwind, marked by memorable events such as attending my very first star-studded quinceañera and cheering on my two children at the State robotics tournaments!
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