Sweet Orange

According to public notices in the Irvine World News, the following homes in Orangetree were scheduled to go on the trustee auction block at the beginning of this year. Orangetree, which includes mostly condos (although a few detached homes do exist) is one of Irvine’s more affordable areas. The low prices are due to the limited square footage of these condos.

Here is a look at what happened to two of these homes.

126 Tangerine, Irvine 92618

• Approximate amount owed plus interest and fees: $507,868.95
• Details: 2bed/2 bath, detached home with 1133 SF
• Scheduled auction date: 2-5-09
• Sold for: $357,000 on April 13, 2009
• Side note: On March 14, 2009, the list price was increased from $359,000 to $410,000.

426 Orange Blossom #202, Irvine 92618

• Approximate amount owed plus interest and fees: $265,535.07
• Details: 1bed/1 bath, condo with 661 SF
• Scheduled auction date: 1-28-09
• Sold for: $268,814 on February 20, 2009
• Side note: On February 28, 2009, this home went on the market again for $205,057. On June 2, 2009, the price was reduced to $179,900; however, this listing is no longer active.

For a look at what is currently on the market in Orangetree, as well as what has sold recently, see the Orangetree map.

For more information on Orangetree, see this post: “A Look at the Housing Numbers for Irvine’s Orange Tree Neighborhood.“

Following is a list of some of the most affordable housing in the Irvine Business Complex, based on the price per square foot. The median price per square foot that homes in the IBC are selling for is currently $219. Looks like these IBC condos will need to have the price lowered even more. As always, keep the HOA fees in mind. Note: See last week’s posts for more information on the IBC.

1134 Scholarship (Avenue One) is a two bedroom, 1037 square foot condo, built in 2006 with an asking price of $299,000 ($288/SF). The HOA fee is $390 monthly.

1262 Scholarship (Avenue One) is a two bedroom, 1037 square foot condo, built in 2006 with an asking price of $319,900 ($308/SF). The HOA fee is $390 monthly.

2330 Watermarke Place (Watermarke) is a two bedroom, 1123 square foot condo, built in 2003 with an asking price of $355,000 ($316/SF). The HOA fee is $316 monthly.

2233 Martin #311 (Metropolitan) is a one bedroom, 934 square foot condo, built in 1992 with an asking price of $299,000 ($320/SF). The HOA fee is $392 monthly.

3131 Michelson  #802 (The Marquee Park Place) is a two bedroom, 1367 square foot condo, built in 2006 with an asking price of $430,000 ($315/SF). The HOA fee is $1,200 monthly.

3131 Michelson  #606 (The Marquee Park Place) is a two bedroom, 1367 square foot condo, built in 2006 with an asking price of $399,000 ($292/SF). The HOA fee is $1,124 monthly.

3131 Michelson  #303 (The Marquee Park Place) is a two bedroom, 1293 square foot condo, built in 2006 with an asking price of $348,888 ($270/SF). The HOA fee is $1,069 monthly.

PHOTO OF THE IBC’S SAN JOAQUIN MARSH COURESTY FORGET ME KNOTT PHOTOGRAPHY