Eastside Costa Mesa Home Takes a Price Cut
Here is another venture into my quest to compare and contrast Irvine and Costa Mesa:
Earlier this week I wrote about a home in Irvine’s El Camino neighborhood that sold for about $22,000 more than the asking price. Following is a similar home in Costa Mesa’s Eastside that went the other way: It sold for approximately $22,000 under the most recent asking price. However, the Irvine home is smaller and sold for $358 per square foot, where as this Costa Mesa home sold for $302 per square foot. Both homes sold in October 2009. One more caveat: The HOA fee is approximately $100 more for the Costa Mesa home than it is for the similar Irvine home.
317 Alta Lane 92627 (Eastside Costa Mesa)
3 beds/2.25 baths- 1441 SF
- Condo built in 1975
- HOA: $284
- Asking price: $457,500 ($339/SF)
- Selling price: $435,000 ($302/SF)
Current estimates for this home:
- Cyberhomes: $404,505
- Eappraisal: $344,489
- Zillow: $449,500

Recently, I
At 
Market Price: $609,000
On July 10, 2008, it went on the market for $450,000, then, just two days later, it was relisted with a whopping $150,000 increase. This brought the price up to $600,000, but seven months later (January 16) the price was decrease to the previous $450,000.


Note: An open house is being held for this home on this Thursday, Saturday and Sunday.
Here is an interesting factoid: Irvine housing is general accepted as being more expensive than many surrounding areas, including Costa Mesa. However, Redfin shows that in September
Are we all socialist now? Based on comments from some surprising sources, the answer to this question might be “Yes. At least if it is to our advantage at the moment.”
Which homesellers are more grounded in reality, Costa Mesa or Irvine homesellers? Take a look at the following numbers and decide for yourself. Keep in mind that the median and average are not the same.* If you want to check out the reality gap for your ZIP, see the 

