According to online housing tracker Zillow’s math, Newport Coast’s 92657 ZIP was the most intensely eyeballed O.C. neighborhood in the third quarter. That’s based on Zillow counting the number of property search made on its site by ZIP vs. the number of homes in that ZIP. Here’s the Top 10 …
1. 92657, which ranked 9th across SoCal.
2. 92603 Irvine
3. 92694 San Juan Capistrano
4. 92602 Irvine
5. 92651 Laguna Beach
6. 92679 Trabuco Canyon
7. 92861 Orange
8. 92886 Yorba Linda
9. 92620 Irvine
10. 92661 Newport Beach
Three Santa Ana ZIP codes were at the bottom of the list … 92703, 92701, 92704.
To see the report that contains these rankings, CLICK HERE
Blogger,
Why do you give Zillow any credence? Their data and value system is inaccurate & unreliable!
All good places to live. Lofty dreams.
Most of the areas above are affluent, so probably most households have computer access. It could also be that those zip codes contain more worried homeowners.
also, 92694 above is Ladera Ranch, not San Juan Capistrano which is 92675. And 92679 would include Coto De Caza.
I admit that I check in on my house in Newport Coast that I sold at the end of 2005 in Zillow just to see if they will ever get the value correct. It is interesting that Zillow continues to show escalating values on it, when I doubt that it could be sold for what I sold it for in the fall of 2005 today. Zillow does show the houses on either side of it as being worth less than half, which obviously is incorrect. It showed a peak value of 2.6M which was never correct.
I realize that valuing homes nationwide in their site is a tough task, but they seem to have the values on my old house incorrect by about 500k roughly. There is no way that house would sell for well north of 2M today. Further, they keep showing increasing value on the ranch I bought in April, again I seriously doubt that anyones property is actually increasing in value right now. I bought it so far under the market that it makes sense to show a higher value than the sale price, but the value should not be rising now.
I never shared the attraction to Newport “Viejo.” It has always been overpriced cloned boxes on the hillside, propped up by its name. Take one trip to Gulf Stream, and you can get an idea of the culture to be found there and CDM.
At least it gets an ocean breeze to cool it down and clear the stench. The self absorbed, fake boobie crowd can keep it.
Zillow is so off base with their home prices unless a property has recently sold. My neighbor recently sold but my house which is the same as his still sits at $200,000. undewr his price. Doesn’t make much sense does it? Cyberhomes.com probably has more accurate realistic prices.
It is probably mostly Jimmy worried about the value of his “homes” dropping.
I own 8 houses in newport coast and ran 30-45 searches on Zillow comparing housing values because I’m starting to unload my holdings there. I expect to seel 5-6 and keep 2-3 but am trying to figure out which ones should go. Also owned 18 houses in Ladera Ranch/Coto de Caza but am down to 4 now because I unloaded most of them over the past 2-3 years because I realized that market was a house of cards.
it would be interesting to see ‘who’ is looking at the top 10. Zillow should have data on where the viewers are located or at least a list of IPs.
Owners, don’t lose a minute’s sleep over a-holes like this:
Comment by cyberpunk:
“You’re right! This is all out psychological warfare! I say we all start going to these places and offer up rediculously low-ball offers (say $150/sqft). The first few times, the sellers will laugh, but if everyone they meet gives them the same low-ball offers they will have to conclude that the market has really tanked! It’s a percentages game, eventually someone will crack and actually sell it at that price, which then becomes concrete evidence of a tanking market. For even more fun, use FUD (fear, uncertainty, and doubt) tactics to increase your schadenfruede. “Sell now before you lose any more money!”
the Zillow zestimate is so inaccurate, I wouldn’t even bother. It is almost imposible to estimate home values.
I use Zillow to see how much people paid for their houses back in 2005 and how much they are asking for today.
That gives you a good idea of how bad the market it.
Jus a month ago, the was a townhouse with a bay view in huntington harbor. Back in 2005, that same towhouse sold for 1,100,000. Apparently, it went into foreclouser this last summer.
It just sold for 900K after being on the market for 6 months. Yes, a 300,000 loss in 2 years. That is what I call a good investment. :-)
I hope whoever bought it is going to stay there for at least 7 years. otherwise they are going to loose money. if they try to sell it That place will be 800,000 in a few months. The county records don’t liek, houses our selling for a lot less than they did back in 2005 and that is a fact. But wait, I thought Realtors said that you can’t go wrong buying real estate. Oh, really?
Carlos, we know it’s you.
Comment by cyberpunk:
“You’re right! This is all out psychological warfare! I say we all start going to these places and offer up rediculously low-ball offers (say $150/sqft). The first few times, the sellers will laugh, but if everyone they meet gives them the same low-ball offers they will have to conclude that the market has really tanked! It’s a percentages game, eventually someone will crack and actually sell it at that price, which then becomes concrete evidence of a tanking market. For even more fun, use FUD (fear, uncertainty, and doubt) tactics to increase your schadenfruede. “Sell now before you lose any more money!”
Truthiness, Sadly that is the mentality of 90% of the posters on this blog. I’m glad you take the time to call them out on their BS since they have ran off most other contributors with opposing views.
Thanks shockg. Let’s keep the heat turned way up. They’ll have to rip control of this blog from my cold, dead hands.
Zillow is garbage. Their zestimates are poopoo.
Right on, Truthiness! Thanks for using straw man arguments, hyperbole, and ignorance to point out the foolishness of the housing bears. Hard to imagine that there’s people who think that paying 10 times income for a house is idiocy. What fools!
Keep up the good work. Housing prices should be back to 2005 levels any day now. Or at least by 2015. Keep the faith! If you build it they will come.
My best guess why Newport Coast is being eyed by many is that the values are declining fast and there have been a few foreclosures. I also heard that the defaults in Property Tax are climbing. The homes that I thought I could never afford have come down several hundreds of thousands and are now affordable. I know of many there who paid high prices and are now facing adjustment of their interest rates. I further think it will, the prices, come down more .
it is one, if not the highest priced zip code in all of orange county, usually between a few other NB zip’s and Laguna Beach
oh and zillow is junk too, atleast trying to use it as a tool for pricing in NC
# Truthiness Says:
November 23rd, 2007 at 4:50 pm
Thanks shockg. Let’s keep the heat turned way up. They’ll have to rip control of this blog from my cold, dead hands.
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See Truthi, THIS is why I eased up on you. You have finally started to be honest with us.
You really DO believe you control this blog.
Now, be a nice girl and admit that your admirer, “shockg” is just another of your alter ego multiple personalities :)
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