Irvine Company Optimistic

Irvine Company Optimistic

In the Orange County Register today there was an article about the Irvine Company being optimistic about the economy so much so that they are going to bankroll 685 construction units. While defaults are still mounting Jobless rates are still high the Irvine Company is still optimistic. Yet housing starts are at a record low, while new homes sales have dropped in 37 of the past 38 months the Irvine Company is still optimistic.



On Monday they are unveiling the 2010 New Home Collection,a project that will put 6 home building companies back to work. You can see the new home models are beginning to sprout up.



They believe the recovery is underway and that they will come out of the gate strong. They believe that the consumer is looking for homes while the prices are low.



The six builders, including longtime companies like Lennar, KB Homes, Brookfield Homes and two start-up companies The New Home Co. and Tri Pointe Homes. There will be 25 floor plans, with features that come from careful market research. Prices range from the low $300,000 to $800,000. These homes will be fairly high density with the larger lots at just over 4,500 square feet.



The Irvine Company stated they thought it would take one and one half to two years to sell all of the homes. They will prove they are optimistic about the future of the housing market by financing construction and they will keep the land in their name. The Irvine Company will have new architectural designs based on the market research.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

http://www.markandtim.com/

949-282-2521

Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!

Too Many Loan Modification Problems.

The Orange County Register had an article that discused loan modifications. The Attorney General was investigating the loan modification companies and stated so few had gone through he was considering baning them in the State of California. The difficulty he had stated was the fact that consumers paid up front fees and were even given guarantees that if the company was unable to do a loan modification they would give there money back. However, moneys were not returned and this area is ripe for even more fraud and loss to the consumer.




Short sales at least you have an oppertunity to sell the property and move on with your life. The seller will have less of a loss than having the foreclosure on their credit report. The short sale forgiveness of debt is also less than a foreclosure. If you are a seller please always check with your accountant and/or your attorney conserning your own personal tax liability.