It’s spring buying season, and historically low interest rates and a limited supply are fueling demand for new homes nationwide. In Irvine, those are not the only factors. Michele Harrington, chief operating officer of First Team Real Estate, explains what makes Irvine among California’s most attractive real estate markets.
First, why is spring a prime buying season? Buyers, especially families, are winding up the school year. So having the new house ready for summer is attractive. It’s also a great time of year to enjoy house shopping. It’s an exciting time for a buyer, and the warmer weather can make it a fun family experience.
What’s different about Irvine’s real estate market? When a buyer wants Irvine, they only want Irvine. In other areas of the county, a buyer will identify four or five different cities that they’d be interested in. But not here. They don’t want to look anywhere else. That’s unique and speaks to the quality of life and value of an Irvine home.
What drives that passion for Irvine? It’s almost invariable: schools, parks and public safety. We hear it from nearly all of our buyers. That consistency makes Irvine such a strong investment because there is so much demand for these qualities.
Interest rates are low. How does that help a buyer? The rates we have now allow a buyer to find an ideal location or bigger lot, maybe a backyard. It simply increases buying power, up to $1,000 or more per month compared to a couple years ago.
