Every year, Gallup surveys Americans to determine their choice for the best long-term investment. Respondents are given a choice between real estate, stocks, gold, and savings accounts.
This year’s results showed that 35% of Americans chose real estate, followed by stocks at 27%. The full results are shown in the chart below.
If you're one of the many people asking yourself "is Irvine real estate a good investment", I think the answer is clear above. As everyone's real estate goals and situation is different Let's discuss.
Now that the real estate market has recovered, so has the belief of the American people in the stability of housing as a long-term investment.
There are 42 Woodbridge homes currently listed for sale, up from 37 at the beginning of last month.
Prices range from $429,900 all the way up to $1,988,000. Included in these numbers is my 15 Fallbrook listing, (in the Creekside tract).
There are 746 properties for sale elsewhere in Irvine.
For info on any listing, call or text me on 949-232-5634 or shoot me an email.
29 Woodbridge homes are in escrow, (Pending or Backup Offers status), at an average list price of $776,989.
20 Woodbridge homes sold in April 2019, at prices from $459,800 for a 2-bedroom, 2-bath attached condo at 27 Firwood in the Village Green neighborhood, to $1,563,000 for my 79 Limewood listing, a 4-bedroom, 3-bath detached Single Family Residence in the Landing II neighborhood.
My 2 Laurelglen listing is another Landing II home which sold in April.
As more and more baby boomers enter retirement age, the question of whether they should sell their homes and move has become a hot topic. In today’s Irvine housing market climate, with low available inventory in the starter and trade-up home categories, it makes sense to evaluate your home’s ability to adapt to your needs in retirement.
According to the National Association of Exclusive Buyers Agents (NAEBA), there are 7 factors that you should consider when choosing your retirement home.
“It may be easy enough to purchase your home today but think long-term about your monthly costs. Account for property taxes, insurance, HOA fees, utilities – all the things that will be due whether or not you have a mortgage on the property.”
Would moving to a complex with homeowner association fees actually be cheaper than having to hire all the contractors you would need to maintain your home, lawn, etc.? Would your taxes go down significantly if you relocated? What is your monthly income going to be like in retirement?
“If you have equity in your current home, you may be able to apply it to the purchase of your next home. Maintaining a healthy amount of home equity gives you a source of emergency funds to tap, via a home equity loan or reverse mortgage.”
The equity you have in your current home may be enough to purchase your retirement home with little to no mortgage. Homeowners in the US gained an average of over $9,700 in equity last year. In Irvine the number is much larger!
“As we age, our tolerance for cleaning gutters and raking leaves can go right out the window. A condominium with low-maintenance needs can be a literal lifesaver, if your health or physical abilities decline.”
As I mentioned earlier, would a condo with an HOA fee be worth the added peace of mind of not having to do the outside maintenance work yourself? Of course you’d still need a gardener or have to take care of your own yard yourself.
“Elderly homeowners can be targets for scams or break-ins. Living in a home with security features, such as a manned gate house, resident-only access and a security system can bring peace of mind.”
As scary as that thought may be, any additional security is helpful. An extra set of eyes looking out for you always adds to peace of mind.
“Renting won’t do if the dog can’t come too! The companionship of pets can provide emotional and physical benefits.”
Consider all of your options when it comes to bringing your ‘furever’ friend with you to a new home. Will there be necessary additional deposits if you are renting or in a condo? Remember many Irvine landlords don't even allow pets. Is the backyard fenced in? How far are you from your favorite veterinarian?
“No one wants to picture themselves in a wheelchair or a walker, but the home layout must be able to accommodate limited mobility.”
Sixty is the new 40, right? People are living longer and are more active in retirement, but that doesn’t mean that down the road you won’t need your home to be more accessible. Installing handrails and making sure your hallways and doorways are wide enough may be a good reason to look for a home that was built to accommodate these needs.
“Is the new home close to the golf course, or to shopping , movies and dining? Do you have amenities within easy walking distance? This can add to home value!”
How close are you to your children and grandchildren? Would relocating to a new area make visits with family easier or more frequent? Beyond being close to your favorite stores and restaurants, there are a lot of factors to consider.
When it comes to your forever single-level Irvine home, evaluating your current house for its ability to adapt with you as you age can be the first step to guaranteeing your comfort in retirement. If after considering all these factors you find yourself curious about your options, let’s get together to evaluate your ability to sell your house in today’s market and get you into your dream retirement home!
There are 37 Woodbridge homes currently listed for sale, up from 34 at the beginning of last month. Prices range from $440,000 all the way up to $1,988,000. Included in these numbers is my 79 Limewood listing, (in Landing II).
There are 660 properties .
18 Woodbridge homes are in escrow, (Pending or Backup Offers status), at an average list price of $859,610.
14 Woodbridge homes sold in February 2019, at prices from $479,000 for a 2-bedroom, 1 bath attached condo at 25 Smokestone in the Park Vista neighborhood, to $1,150,000 for 17 Springwood, a 3-bedroom, 2 bath attached townhouse in the Grove neighborhood.
Companies around the world are diving in to make as much money off consumers as possible.
What are they selling? The ease. The ease of buying or selling a home online. The catch? Buyers & sellers actually don’t benefit from these online quick-sale services. In fact, they could find themselves out of tens-of-thousands in cost difference.
If you’re in the market to buy or sell a home in Irvine, and are considering foregoing a real estate agent for an online service, be sure you read the fine print. You’ll often times find that you aren’t benefiting at all. Will they buy your home upfront to resell it, so you don’t have to worry about the headache? Sure, but you may have been able to get $100,000 more for your house using a Realtor like Debbie Sagorin. Can you see and purchase your dream home through said services and “save” on agent commissions? Sure, but you’ll probably be overpaying for the home anyway.
The real estate industry is heavily regulated for licensed professionals to ensure the consumer is always getting the best representation for the best savings. Many of these online services don’t require regulation and licensing, therefore, they can get away with fine print “scams.”
Although I am a Zillow Premier Agent, I must say that online services like Zillow and Trulia disrupt the real estate business. In my opinion, one thing remains certain - home buyers and sellers will always trust a human over a machine, especially if that person is chock-full of local knowledge and genuinely eager to help.
Be sure you do your research. A Realtor is there to make YOU the most money. Quick online services are focused on making their business the most money - not focused on how much you can sell your home for or how much you can save when you buy. Licensed professionals exist for a reason, be sure you don’t lose more than you can afford to by using a gimmicky online service that dubs buying and selling an “easy” process.
Any good agent will make the process easy, minus general lending issues that may arise.
In just two weeks, Orange County housing demand has increased 22% while supply has only increased 2%.
When the supply of homes is low and the demand to buy homes is high, the expected market time falls. That is exactly what is occurring right now. This week escrow closed on my 119 Greenmoor listing which sold with multiple offers, after only 6 days on the market. And it sold for 10% higher than the list price!
A week after it went into escrow, I listed another Greenmoor home, (in the Laurels neighborhood), and it too sold after just a few days, with multiple offers, and is currently in escrow.
I expect the high demand to continue, mainly because historically more buyers come out after the SuperBowl.
There are 15 Woodbridge homes currently listed for sale, up from 14 at the beginning of January. One of them is 10 Woodflower, my gorgeous 4-bedroom Landing II listing with a magnificent salt-water pool. It is listed at $1,600,000. See some photos and more info at this link.
There are 309 properties for sale elsewhere in Irvine. See all Woodbridge homes for sale.
For info on any of these, shoot me an email, or call me at 949-232-5634.
21 Woodbridge homes sold in January 2017, at prices from $492,000 for a 2-bedroom, 1.5 bath attached condo at 18 Rosemary in the Villager neighborhood, to $1,230,000 for 2 Lakeknoll, a 3-bedroom, 2.5 bath detached condo with a great lake view, in the Crossing neighborhood.
21 Woodbridge homes are in escrow, (Pending or Backup Offers status), at an average list price of $804,209.
Right now, 276 properties are listed for sale in Irvine, with prices ranging from $265,000 all the way up to $20,900,000.
Every Irvine real estate listing can be seen here.
Let’s see how this applies to the current Woodbridge residential real estate market.
23 Woodbridge homes sold in October 2017, at prices from $445,000 for a 2-bedroom, 1.25 bath attached condo at 85 Greenfield in the Alders neighborhood, to $1,150,000 for 21 Fairdawn, a 4-bedroom, 2.5 bath detached SFR in the Landing I neighborhood.
It is no secret that the supply of homes for sale has been far below the number needed for over a year. A normal market requires six months of housing inventory to meet the demand. The latest report from the National Association of Realtors (NAR) revealed that there is currently only a 4.2-month supply nation-wide. It's much less in Woodbridge.
There are 23 Woodbridge homes currently listed for sale, down from 27 at the beginning of October. There are 375 properties for sale elsewhere in Irvine. See all Woodbridge homes for sale.
Supply is currently very low!!
A report that was just released tells us that demand is very strong. The most recent Foot Traffic Report (which sheds light on the number of buyers out looking at homes) disclosed that there are more buyers right now than at any other time in the last twelve months. This includes more buyers looking at homes right now than at any time during last year’s spring market.
25 Woodbridge homes are in escrow, (Pending or Backup Offers status), at an average list price of $713,740.
Demand is currently very high!!
In a nutshell, while waiting until the spring to list your house for sale made sense in the past, NOW IS DIFFERENT. The best deal is probably available right now.