Orange County CA Real Estate

Even though Irvine, CA. has some of the lowest crime rates in the USA, gated communities offer an addition layer of security as well as prestige.  There are two types of gated communities:  One is the simply automatic gated community and the other is the human guarded gated subdivision.  All Irvine CA. gated communities will incorporate an association and commensurate association dues, and human guarded gated communities will have higher dues.  Below is the list of all Condominium developments with automatic gates and human gate guarded communities, including the Area, and the year the Condo community was built: 

Community	Area	Year Built
Watermarke	Airport Area	2005
Orange Terraces	Orangetree	1979
Metropolitan	Airport Area	2005
Oak Park	Oak Creek	1999
Corte Bella	Westpark	1992
Sheridan Place	West Irvine	2000
Collage	Northwood	2000
Greystone Villas	Northwood	1998
Alborlake	Woodbridge	1977
Terra Bella	Northpark	2000
Oxford Court	University Town Center	1987
The Pointe	Turtle Rock	1986
Marquee Park Place	Airport Area	2006
Brisbane	Northpark	2000
Northwood Park	Northwood	2003
Avenue One	Airport Area	2006
The Lakes	Northwood	1978
Auburn	Northpark	2002
Monterrey	Northpark	2002
Evergreen	Northpark	2000
Serissa	Northwood	2004
Vintner’s Reserve	Northpark	2002

Below is a list of all detached home subdivisions that are gate guarded, including the area and the year the community was built:

Community	Area	Year Built
Parklane	Walnut	2002
Acacia	Oak Creek	2000
Lexington	Northwood	1997
Cambridge	Walnut	1998
Tremaine	Northwood	1997
Centennial	Walnut	1997
Bainbridge	Northwood	1997
Canyon Crest	Northwood	1979
Harvard Square	Walnut	2000
Windstream	Northwood	1981
Cypress	Oak Creek	1999
Fairmont	Northwood	1997
Canyon Creek	Northwood	1979
Kenwood	Oak Creek	1999
Silverado	Northwood	1996
San Simeon	Northwood	2001
Saratoga	Northwood	1999
Bella Rosa	Northwood	2005
Ashford Place	Oak Creek	1999
Corte Bella Villas	Westpark	2000
Chantory	Turtle Ridge	2004
Kelsey Lane	Oak Creek	2000
Georgetown	Northwood	2000
Arborel	Turtle Rock	2003
Santa Venetia	Northwood	2002
Sonoma	Northwood	2000
Rutherford	Northwood	2003
Mendocino North	Northwood	2000
Miramar	Northwood	2001
Oakhurst	Northwood	1996
Courtside	Northwood	1985
Cristal	Northwood	1997
Mayfield	Northwood	1997
La Cima	Turtle Ridge	2007
Brentwood	Northpark	2001
Cricket Club	Oak Creek	2001
Shady Canyon Custom	Turtle Rock	2006
Amberhill	Turtle Ridge	2005
Ledges	Turtle Ridge	2006
Turtle Rock Estates	Turtle Rock	1993
Concordia East	Turtle Rock	1996

Typically, homes in gate guarded command a higher price compared to homes that aren't.  Currently there are 120 detached homes listed for sale in Irvine that are in gate guarded communities and the median asking price of these homes is $1,495,000.  Compared to 225 detached homes listed for sale that are not located in a gate guarded community, and the median price of these 225 homes is $834,900. 

For Condos, the price differential is not as drastic.  Currently, there are 109 condos listed for sale that are located in gate guarded communities and the median asking price is $714,900.  As compared to 304 Condos listed for sale that are not located in a gate guarded community and the median price of these 304 condos is $615,000.

If you would like to view any home or condo for sale in Irvine, visit our website at:  Irvine Real Estate.  If you would like to see any home for sale in a gate gaurded community, feel free to call us at 949-388-3396.

Now is a good time to be looking for a bargain home to buy in Aliso Viejo, CA.  Interest rates at historic lows... current real estates prices have dropped about 8% from a year ago... and this is the slowest season of the year to try to sell a home.  A home shopper can find good bargain if one knows where and how to look.  One of the better opportunities for finding a great value for a home is searching for Foreclosures, Bank owned REO's or Short Sales.   

A Short Sale is a home listed for sale by the current home owner, but the home is now priced at a point where the homeowner no longer has any equity.  The eventual sales price is then basically negotiated with the Bank, for the homeowner will not receive a dime when it sells, but is simpling selling it to avoid Foreclosure.  An astute Buyer can sometimes pick up a bargain this way if one knows how to negotiate with the Bank.

A Foreclosure is a home for sale by the current homeowner in which the Bank or Savings and Loan has filed Foreclosure Proceedings against the homeowner.  The homeowner only has a total of 3 months plus 3 weeks in order to get the home sold, or else the home gets repossessed by the Bank.  Homeowners in this situation are obviously very motivated to sell, and some of these homes are Short Sales as well. 

A Bank REO (Real Estate Owned) is a home that is listed for sale by the Bank and is owned by the Bank as a result of a Foreclosure Proceeding described above.  Again, this a very good buying opportunity for the Bank is very motivated to sell.  Banks do not want to own homes, they want to loan money, and the Bank is at risk of vandalism due to the vacant home, plus they are losing money each month that the home sits vacant and unsold.

Unless you have experience in purchasing homes under financial distress, it is a good idea to work with a licensed real estate agent who has experience in such acquisitions.  If you would like more information or assistance in purchasing Foreclosures, Bank REO's or Short Sale properties in Aliso Viejo or elsewhere in Orange County, please fell free to contact us at:  949-388-3396.  If you would like to freely view all homes for sale in south Orange County visit our new web-page at:  Quick View of all Orange County CA Homes for Sale  If you would like to be added to our Bargain Home Finder Service, please visit:  www.OCBargainHomes.com

The real estate market in Rancho Santa Margarita and elsewhere in Orange County has slowed down substantially. Currently there are 169 Condos listed for sale. The Condominiums range in price from $260,000 for a 1 bedroom, 1 bath in the Belflora tract on Castano street. Up to $749,000 for a 3 bedroom, 2.5 bath townhome with 2 car garage in the Alicante tract on Calle Del Norte. The median price for these 169 condos for sale in Rancho Santa margarita is $435,000 and the average price is $446,007. The average price per square foot is $400/SqFt and the average days on market is 79 days.

There are currently 34 condos under contract In Escrow in Rancho Santa Margarita. These condos range in price from $257,900 for a 1 bedroom, 1 bath on Gavilan in the Las Flores tract. Up to $465,000 for a 2 bedroom, 2.5 bath, 2 car garage townhome in the Seacountry tract. In the past 90 days, there have been 86 condominiums that have sold and closed escrow in Rancho Santa Margarita. The least expensive sold unit was $205,000 for a 1 bedroom, 1 bath condo on Rosa street in the Las Flores tract. The most expensive condo was $730,000 for a 3 bedroom, 2.5 bath, 2 car garage townhome on Via Empanada with a golf course view in the Alicante tract. The median priced condo was $417,000 and the average price was $428,254. The average price per square foot is $369/SqFt and the average days on market was 72 days.   more »

I saw the Borat movie the other day and I couldn't help but use that 'NOT' phrase... There has been lots of talk in the past 12 months about a real estate Bubble here in Orange County CA... As a professional real estate Broker I don't see it, but then again, maybe I'm just biased. So I brushed of the dust from my old College Engineering books and decided to do some unbiased statistical analysis to shed some light on the current state of the real estate market here in Orange County.

First set of statistics that I look at, that are often quoted, is the Months of Inventory. This figure is published by the major banks and title companies but the data is usually a 4 to 6 months behind the current market conditions and covers a very large area of the marketplace (ie: California). So I started tracking my own version of the Months of Inventory back in July of 2002'. The data I have been gathering is on a weekly basis for just the south Orange County real estate market. Also, I use homes under contract (In Escrow) instead of homes that have sold and closed in the previous 3 months. This makes for a much more time sensitive up-to-date barometer as to what is currently going on in our marketplace. In July of last year (2005') we were in a super Hot Sellers market at 1.5 months of inventory. Since that time the market has be slowing down to a level of 9 months of inventory about a month ago. Recently the market has shown signs of gaining just a little bit of strength as the months of inventory has dropped back to 8 months. Below is a Graph showing the Total number of homes Active for Sale versus the Total number of Homes sold In Escrow. The ratio of these two figures is representative of the Months of Inventory.    more »