So…it only appears to have been awhile since I posted because some HACKER from Turkey (the Turkey) attacked my site and I didn’t back up my more recent posts. Maybe he was jealous of that we are living Under the Tustin Sun and he’s not. Ha!
OK – quick update on what the heck is going on with real estate values in 92705. Short story? Low inventory and moderate demand has keep our values stronger than many of the outlying areas. Beware of looking at stats County-wide. Real estate is extremely area specific so if Garden Grove’s prices have dropped a specific percentage that is not relevant. While our values have come down, we have had a TON of sales in 2010 and the North Tustin real estate market remains strong primarily because of our daily dose of sunshine, proximity to open spaces & beaches, large lot sizes and our schools. Many of our community members commute to LA for these reasons.
Remember: “Market value” is ultimatley determined by the Willing Buyer – Willing Seller principle or when a Buyer is willing to pay a price that the Seller is willing to accept, that price is what the property is worth.
I’m off to the Farmer’s Market to buy some organic, locally grown fruits and vegetables. Yum! The markets are every Tuesday in Tustin Ranch at Jamboree & Irvine from 10 – 1:00 and Wednesday in Old Town Tustin on El Camino Real near Main from 10 -2:00.