Is Residential Real Estate Turning Around?
BY MARTIN BROWER
December 10, 2009 - 5:15 PM
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Another sign that the recession in residential real estate is ending is the sale of 19 luxury, high-rise condominiums during the past two months in the 16-story 3000 The Plaza building on Jamboree Road and Campus Drive in Irvine.
Only 50 of the 105 condos in the building, which opened in 2008, had been sold when Opus West sold out to its partner, Geoffrey Edmunds and Associates two months ago. Edmunds credits the offer of 2.875 interest on a seven-year fixed loan for part of his success in addition to the quality of the product, which has a roof-top swimming pool. Prices begin at $600,000.
