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Buyers & Sellers - Don't Be Fooled By Falling Home Prices - South OC, California

By
Real Estate Agent with HomeSmart, Evergreen Realty

WHY WORRY ABOUT NEWS OF HOME PRICES GOING UP OR DOWN?  

TRUE ECONOMIC VALUE OF A SOUTH OC HOME ... REAL ESTATE ... IS DETERMINED BY BUYER DEMAND.

WHAT ARE BUYER DEMAND FACTORS AT SOUTH ORANGE COUNTY?  

home ownership demand 2007

Are there successful business and employment centers nearby? (We have robust economy here at South OC, lots of good and solid companies)

Are there people with jobs who want to get into the South OC market and buy homes?  (pent up demand)

What is the quality and desirability of South OC geography?  Are there hills or flat land? 

Are there folks who want to move into the South OC cities and neighborhoods?  

What's the strength and quality of local development and governance. Does the city provide good information?

Is there business and solid commercial building and activity nearby?  commercial activity

 Is there master planned community development.  The Irvine Company has done such a great job here in South OC, California.

good quality home product

 

Are the homes well-designed and well-made?

Has the custom home builder used good standards and quality building products? 

 

Have the city and public agencies been responsive and careful to protect interest of homeowners and residents? 

We want our City of Irvine leaders to support development and keep an eye out for real estate owners.

What's the weather like?    Turtle Rock weather

Are homes close to water?  Are there hills or dry land nearby? 

Have there been GEO issues experienced in the area?

 

octa signsIs the particular home of interest close to major transportation areas (motor vehicle, bus, train and otherwise)?

Will a person be able to walk or drive a short distance to shopping?

 

What is the look and feel of the neighborhood?   Quail Hill, IrvineAre there young people present?  Do people seem to be enjoying themselves?

Are there good places for walking and facilities for exercise and physical fitness ... for young and old?

Are there good public schools close by ... and at South OC? 

Here in Turtle Rock, Irvine, we have two of the most decorated public elementary schools ... Bonita Canyon Elementary ... and Turtle Rock Elementary SchoolUniversity High School is famous and sought after by people around the world.

Turtle Rock Comm. Park

What are the local parks like?  Are there children walking or playing in the parks?

 What's the situation with the public water district?  (Irvine Water District is a good example of forward thinking management).

Are there bank foreclosures in the area and tract?  This would have a negative impact on real estate value.

Is the homeowner association solid with good management?   What's the area crime rate like?

Where are the churches and places of worship?

ALL SIGNIFCANT QUESTIONS TO HELP DETERMINE BUYER DEMAND ... and VALUE. 

Irvine, California ... especially at Turtle Rock ... has been relatively safe from falling home prices.  We are at zip code 92603 and not completely immune from prices decreasing.  But so what?  We are near Shady Canyon, a gated community of custom-built homes no smaller than 3,800 square feet,  Turtle Rock, one of Irvine's first five villages, and Quail Hill, a newer village near Shady Canyon.

That home prices have moderated opens a window of opportunity for buyers in Southern California and here in Irvine ... Turtle Rock, Quail Hill, and Shady Canyon.

Irvine is one of the best places to live.  Here in Turtle Rock, we have great parks and are located close to companies and offices and to public university offices at UCI.  We have some of the best public schools in California and some say best in the US.  This all helps to make Irvine a good community where real estate values are supported and stable in all market swings. 

Advice for BuyersFind the right home for you and your family.  Make sure you have down payment and can afford the monthly, property taxes and annual carry.  Buy the home now at a good price and at the best possible time.

Advice for Sellers?  If you are moving or need to sell your home, hire a good Realtor agent, get it on the market at a fair price to sell ... and move it along.  You buy elsewhere and take advantange of the soft market from a buyer perspective.

Please contact us if you are interested to buy or sell a home here in Irvine and through South OC, California.  Thanks.  Harrison K. Long, Explore Group Properties, Coldwell Banker Previews. 

Harrison K. Long - Realtor & Broker (Explore Properties Group, Coldwell Banker Previews): Real Estate Agent in Irvine, Orange County, California

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Comments (3)

Sharon Paxson
Sharon Paxson, Realtor® EQTY Forbes Global Properties - Newport Beach, CA
Newport Beach Real Estate

Harrison - nice looking post with the formatting, and the photos. I like the frames around the photos as well. You have written a very thoughtful post here about Irvine.

Nov 13, 2008 01:20 AM
Harrison K. Long
HomeSmart, Evergreen Realty - Irvine, CA
REALTOR , GRI, Broker associate, Attorney

Sharon ... thanks for your support and nice comment here about Don't Be Fooled by Home Prices at South OC, California.  Harrison

Nov 13, 2008 02:52 AM
Sandy Shores FL Realtor®, Melbourne Real Estate
M & M Realty of Brevard Inc. - Melbourne, FL
Brevard County Real Estate, Florida's Space Coast

Hi Harrision, Great post and so many good questions that must be considered.  We cannot always follow what the media is telling us.  We must do some research of our own.  Thanks for the thought provoking post - you are so right!

Nov 14, 2008 12:12 AM