Sweet Orange

Here is a sample of what is currently on the market in Irvine’s Westpark neighborhood (Click on this link to get Larry Roberts’, a.k.a. IrvineRenter’s,  description of the Westpark area. He provides a thorough and insightful description.). As I mentioned yesterday (Irvine’s Westpark Neighborhood: A Look at the Housing Numbers), 41 of the 47 Westpark homes that are currently on the market are in some type of market distress. Two of these distressed properties are listed below.

The most expensive home currently on the Westpark market is located at 1 Lorenzo. This 4 bedroom has an asking price of $1,179,000 ($453/SF) and a homeowners association fee of $40 per month. This home was brought in March 2004 for $860K. According to Zillow, 89% of the homes in this ZIP code have a lower price.

The least expensive home currently on the Westpark market is located at 10 Mozzoni Aisle. This 1 bedroom has an asking price of $310,000 ($303/SF) and homeowners association fees of $250 and $40 per month. This is a short sale.

At 162 Almador is a Westpark home that is near the median price for Westpark homes. This is a 1989 condo with 3 bedrooms and an asking price of $449,000 ($319/SF). The homeowners association fees are $216 and $40 per month. This short sale was bought in December 2004 for $525K.

PHOTO COURTESY WESTPARK ELEMENTARY SCHOOL, THE IRVINE UNIFIED SCHOOL DISTRICT