Posts in Updates
Irvine Market Update - January🏡

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.

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Breaking News: Irvine’s Gateway Preserve 📰

In the past month, The All American Asphalt Plant officially closed its doors, halting production on November 15th in response to persistent complaints from residents about the smell and pollution emanating from nearby homes. Nevertheless, the City of Irvine has acquired the facility and outlined plans for a significant transformation, converting the majority of the land into a nature preserve named "The Gateway Preserve.

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Irvine Market Update - December🏡

The Orange County housing market has cooled since Spring, with Expected Market Time (# of days to get into escrow) increasing from 37 to 59 days. Luxury properties, homes priced above $2M, have also experienced a slowdown, with Expected Market Time rising from 101 to 168 days. Despite the extended selling periods, prices in the luxury market have remained stable. Most high-end sellers do not have to sell and do not adjust their asking price as often compared to sellers in lower price ranges. 

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