It’s the spring buying season and historically low interest rates and limited supply are fueling demand for new homes across the country. At Irvine, these aren’t the only factors. Michele Harrington, Chief Operating Officer of First Team Real Estate, explains what makes Irvine one of California’s most attractive real estate markets.
First, why is spring a busy buying season? Buyers, especially families, complete the school year. So having the new house ready for the summer is attractive. It’s also a great time of year to enjoy home shopping. It’s an exciting time for a shopper, and the warmer weather can make it a fun family experience.
What’s different about the Irvine real estate market? If a buyer wants Irvine, they only want Irvine. In other areas of the county, a buyer identifies four or five different cities that they would be interested in. But not here. You don’t want to look anywhere else. That is unique and speaks for the quality of life and the value of an Irvine house.
What drives this passion for Irvine? It’s almost immutable: schools, parks, and public safety. We hear it from almost all of our buyers. This consistency is what makes Irvine such a strong investment because these properties are in such high demand.
The interest rates are low. How does this help a buyer? The prices we have now allow a buyer to find an ideal location or larger piece of land, perhaps a backyard. It simply increases purchasing power by as much as $ 1,000 or more per month compared to a few years ago.