August 14th, 2016 | Coastal Real Estate,Laguna Niguel,Orange County real estate,Palisades Home Sales,Residential Real Estate |
New Listings Exceed Demand
Each month this year more inventory has come on the market than buyers were able to absorb. Now we have an excess of supply in the opinion of many sellers. We have 4.2 months of inventory if sales continue to stay at July levels. If sales decrease and more new inventory comes on the market, then the months of inventory will increase. Usually sales do decrease in August and through the Fall until December. We need to encourage our buyers.
Why should you buy now? We are back in historically low interest rate territory. Once you buy, the rent never increases again. Fixed rate loans are inexpensive to obtain and can be paid off at any time but you have 30 years. With some loans, you may want a 20 year window, others 15 years or shorter. Whatever your interest rate is, for loans up to $1 million, the interest is tax deductible. Your property taxes are also tax deductible.
When you increase your deductions, your tax rate decreases so there is even less income tax to pay. While you cannot live in your savings account, you can transfer your money to a home investment and you get to live in your investment. Plus, when you sell, the appreciation after all expenses and outstanding loan balances are repaid is tax-free up to $250,000 per individual. There is no other investment like your own home.
Why choose Laguna Niguel?
What is not to like about Laguna Niguel?
This was caught in the lake!
And the beautiful homes! Look at 44 Asilomar, for instance. It sold for about $3.4 million. If you have the credit or the cash, 31731 Isle Vista is on the market for $4,488,000.
31731 Isle Vista
This would be a home to enjoy! Some lucky person will buy it.
How are the prices?
Median Price in July $865,000.
The median price has dropped to $865,000. This may be due to more sales in the lower price brackets. When the volume of sales in the lower price bracket increase the property sold in the exact middle of all the sales will move downward.
Averaging all sales in the last 12 months, the average home takes 92 days to sell. That is a very comfortable number. Usually a home is shown for 4 or 5 weeks then the negotiating can take a week and the lender 6 weeks to approve the application and fund the escrow. 92 days disappears quickly.
I have a document for anyone who is moving. It is all about the last 7 weeks prior to a move. Email me if you would like a copy. firstname.lastname@example.org
July Sales Down from last year
As you can see from the Fast Stats chart, new inventory has increased from last year by 12% while sales have decreased 24%. One reason? Prices. The average sales price has increased even though the median has stabilized. If you own a home priced at $900,000 or more, it may take longer to sell than if you priced it at $850,000.
Come enjoy the fun and live in Laguna Niguel! Email me for an appointment to look at properties. I can connect you with an expert loan officer who will help you achieve your dream. Today is the day. Email me at email@example.com now!
Would you like to see the entire report? Click on this link Report
July 5th, 2016 | Coastal Real Estate,Housing Inventory,Laguna Niguel,Orange County real estate,Residential Real Estate |
This was not a good month for sellers. Sales fell for a four month low (brown columns) while new listings increase (blue columns) and inventory continues to grow. Fortunately with Brexit the interest rates fell and this will stimulate sales. Buyers cannot expect a better environment. They have more options than ever before with sellers feeling the competition. There will be more negotiating unless a buyer falls in love with a home and the seller is firm on the price. Take 27685 Manor Hill, for instance. This home sold the first day for cash. Both seller and buyer are happy!
Sold First Day for Cash
Would you like to see the full report? Click here: Market Report . You can choose either tab at the top to see the median prices or the new inventory vs sales numbers for the last 12 months. If you scroll down and click on a month, then further down will appear all the addresses of homes that sold that month. If you click on an address, you will see more information and the MLS number of that home.
Have you seen 24582 La Hermosa? This is a beautiful custom-built Spanish Colonial with panoramic views and a 1/2 acre lot.
This home is truly a grand home with Mediterranean styling, a warm feel and panoramic views. Take a look at the virtual tour with the aerial photos. www.24582lahermosa.com
24582 La Hermosa
What is happening with the median price?
Median Price for June $895,000. It was identical to the Median Asking Price!
We are usually close on the median asking price and the median sales price but never this close. The buyers have not asked the sellers for much in the way of a discount. Everyone seems to be on the same path with regard to sales. Of course, the ones that did not sell are a different story. Those prices are higher that the buyers were willing to pay for the most part. As it is half of the buyers paid more than $895,000 and half paid less. If your budget is at least $895,000, you could have bought any one of those houses beneath that price.
Why do people love Laguna Niguel?
Many homes have ocean views!
School and Community Information Report – Impressive!
With 97 new homes on the market in June and only 51 sold, this could turn from a balanced market to a buyer’s market. However, I wouldn’t wait. If you find the home you want and can qualify with these low, low interest rates, you should negotiate and buy.
Take a look at the homes that are actively for sale right now- Active Homes Then send me an email or give me a call to see the home and get pre-approved for the loan if you need one.
Don’t wait to be part of this beautiful city!
Let’s enjoy a picnic or go fishing!
July 5th, 2016 | Coastal Real Estate,Laguna Niguel,Orange County real estate,Residential Real Estate |
Sellers have overwhelmed the market
As you can see from the graph, sellers have put their home on the market in such numbers, the buyers cannot keep up. If you would like to see the full report in detail please click on Full Report. In May there were 93 new listings and 66 sales. This was a repeat of previous months. Right now there are 193 homes actively on the market in Laguna Niguel. This is an exceptionally a good inventory for buyers to choose from.
Where are prices going? When the inventory climbs, buyers have choices and usually force sellers to lower prices. Take a look!
Median Prices have fallen. As you can see the Sellers got a little too aggressive in pricing their properties in April. They were hoping the buyers would accept considerably higher prices based on the March results.
May 2nd, 2016 | Coastal Real Estate,Housing Inventory,Laguna Niguel,Orange County real estate,Residential Real Estate |
Look at the graph to see how the sellers are reacting to increased inventory. This is the first month there has been such a drastic divergence in asking price from selling price.
Median Sales Price $917,500 Why were the sellers so willing to negotiate downward? Look at the sales versus new inventory report.
The number of sold properties dropped! Look at the brown column. The new inventory (blue) has far outpaced the sales (brown) for the last four months. Sellers feel the pressure and prefer to lower their prices rather than sit on the market. With these low interest rates, you could expect more buyers to be out, but not yet. April can be a sluggish market due to tax season. Let’s hope this May duplicates the sales levels of a year ago. We need several months of sales near or above 80 to absorb the current inventory.
Median Sales Price $865,000 – Days on Market 91
This is a screen shot from the full report. If you would like to see the report, please click Full Report. You can chose the month and see each property that sold that month. You can scroll down and click on the icon to the far right of the address to see the map of where the home is located. And then there is a link to see the details of that home and the pictures. Have fun! You can see what the buyers paid for each of the homes and how long it took that home to sell.
The Days on Market (DOM) is a very revealing number. While the median number of days is 91, several properties took much, much longer. 32221 East Nine was on the market almost a year. The home with the shortest DOM was on the market for 24 days. Take a look at each one, can you see why one sold quickly and the other took forever?
Would you like to see the active properties? One of the nicest and most expensive ones?
31662 Isle Vista, Laguna Niguel
31662 Isle Vista! What a view!
31662 Isle Vista – Wouldn’t you love to live there?
Living in Laguna Niguel is truly wonderful. There are homes in many price ranges. Now is the time to move. You have the Pacific Ocean a few minutes away, excellent schools, shopping, restaurants, parks, and so much more.
What a view!
There is so much more! Please contact me if you would like to purchase a home in this area or sell one you own. We have an excellent marketing plan. Berkshire Hathaway HomeServices is an excellent worldwide brokerage firm.
April 13th, 2016 | Coastal Real Estate,Housing Inventory,Laguna Niguel,Orange County real estate,Residential Real Estate |
New Listings hit 81 in March
New listings have struggled to bring balance to the market since last July. Buyers were scooping up everything they could in most months and continually reducing the inventory. Savy sellers were waiting for prices to just get a little higher. Now they have. The selection is out there and the interest rates continue to be very low. If you are thinking of waiting for more inventory and prices to de-escalate, that may be unwise.
Go out now and look for the home you want or need now. If you find it, negotiate for the price. The longer term trend is upward.
What is the median price for March and what is this trend?
Median Prices are climbing!
This chart is dramatic because it highlights prices between $700,000 and $1,000,000 only. Here we are, almost $1,000,000 for the median sold price. The median price is the price in the exact middle of all of the sold properties for the month. If you had $951,000 to spend, you could have bought half of the properties that actually sold last month. That is a considerable amount of money to spend but in this area, people spend up to 60% of their income on their housing.
Living close to the coast in Orange County, California does cost more than other areas. The average home price for sale is $1.6 million and the median home price is $1.2 million. You can see the sellers are expecting to get more for their homes than in the past.
Median Sold Price was $951,000. The median listing price was $950,000.
Check out the full market report Full Report Click on any month and a screen will appear below with the addresses of each home sold. Click on an address and the listing will appear with pictures and MLS information. You can scroll through the pictures to really appreciate the home.
Are you interested in the homes that are actively for sale? Click on this link for those – Active Listings You can click on the MLS number to see the pictures and get the information you need on this home. Then call me for an appointment to see the home and a reference for an excellent loan officer if you do not have one already.
Do you need schools and community information?
School and Community Information Report
Do you need information about our city? Laguna Niguel
Would you like to see the most expensive home for sale in Laguna Niguel? That would be 31645 Peppertree Bend. This home was listed while it was under construction over 300 days ago. Now it is complete. It sits on a hilltop high above the city.
31645 Peppertree Bend $9,950,000
The ocean and city lights at night. This is an eagle’s nest.
Come on down and see me to tour Laguna Niguel if you are seriously interested in living close to the ocean in a wonderful community.
Amtrak has a station in Laguna Niguel!
March 17th, 2016 | Coastal Real Estate,Laguna Niguel,Orange County real estate,Residential Real Estate,South Orange County Schools |
Our sellers are now out on the market in droves. Thank goodness! I have a new graph format for you which should be interesting and I have two very reliable sources of information behind them. First, let’s look at the new listings graph. You will appreciate the dearth of inventory as 2015 ended and continued for the first two weeks of January.
There were 84 new listings in February. Up significantly from last year.
This is almost as high as June of 2015 and higher than all of the other months.
There were 94 new properties listed in February according to MLS Office. 38 properties sold in that month.
Another tracking site includes new listings that were signed but may have been put on hold while the sellers get their home ready to sell, that number is 94. Either way the minimal inventory in December and early January has inflated to a much more reasonable number but it is still a seller’s market. When the market falls below 4 months of inventory, the sellers can increase prices. When the market exceeds 6 months the sellers discount prices just to get their property sold. Would you be interested in seeing all of the detached single family homes in the City of Laguna Niguel? Active listings You have the choice of 142 homes!
New properties for each of the last two months have balanced out the number of months in which more homes sold than came on the market. Still, in some cities in South Orange County homes are sold in 30 days or less. Laguna Niguel has a wide range of houses for sale, starting at $599,000 going up to $$9,950,000. Would you like to see more details on a home that is listed for $7,500,000? 2 Inspiration Point
2 Inspiration Point – A true inspiration!
How are the prices these days? What has been the trend in Median Prices? It continues to edge up. In February it was $882,000. This means that half of the sold homes cost less than $882,000.
Median Sales Price for February was $882,500.
This city is significantly above the County average prices in blue. Real estate is a good investment here.
Did I mention Laguna Niguel is ocean close?
When you feel those cool breezes, you know why you want to live here. Laguna Niguel movie Is that Catalina Island out there?
Interest rates are exceptionally low. Unbelievably low. And if you have enough cash to put 30% down, you don’t even have to have income in the United States. Buyers from foreign countries do not have US tax returns and all of the documentation for a conventional loan, but they do have income and assets overseas. These buyers can find a lender who will help, especially if the buyers are from China.
Would you be interested in the school scores and the city’s website? School information
School and Community Information Report in the above link.
Interested in the beaches? Golf courses? Museums?
City of Laguna Niguel website
Let’s enjoy a picnic or go fishing!
This is a great city! Come on down.
March 14th, 2016 | Housing Inventory,Laguna Niguel,Orange County real estate,Residential Real Estate |
View from a Laguna Niguel home. You can see the beautiful ocean!
December had very few new listings. It was a dismal low for the year and a hard start to 2016. But by the end of the month, listings shot up to a level not seen since last Spring or early Summer.
New listings shot up to 70 for the month of January!
We now have sufficient inventory for the buyers to find something they really like. Sales numbers lagged behind the new inventory basically because those sales went into escrow in late November or December. November and December are traditionally low sale months. January usually starts the new year with a bang and, fortunately, it was a slow start but a great finish.
Would you like to see the full report on the sales and prices? Click on the link below. Scroll down and click on any month. You will find every sale for that month, the home address and sold price. If you click on the address, more information will appear. That will have the MLS number which will lead you to all of the pictures and information. It is a terrific report.
Link to full report: Full report
How about the current prices? Are they trending up with such a dearth of inventory?
The Average Asking Price in January was $914,483, the lowest in the past five months.
This is interesting. Even with low inventory, the prices dropped considerably from September, October and November. The short explanation is those months had more expensive homes sold than January. The inventory of multi-million dollar homes drops more than the average homes over the holidays. These homeowners rarely have to sell and do prefer their privacy over the holiday time period.
The current inventory has many of these ultra-expensive homes. Please click on this link to see the current inventory:
There are 133 homes actively listed today. The average price is $1,647,182. Of the ultra-expensive homes, the most expensive home is $9,950,000. It has 9 bedrooms, 12 bathrooms and 14,000 sq. ft. of living space.
You can invite your friends anytime to this home. Parties of any size will probably be no problem but you want at least 100 guests. Take a look at the MLS! LG15129823
But let’s look at the median price, that is the price in the exact middle of all of the sales.
The median price was $806,500, almost $80,000 less than the average price.
January 5th, 2016 | Coastal Real Estate,Laguna Niguel,Orange County real estate,Residential Real Estate |
Some of our view homes have spectacular views of the ocean!
You could say the sellers want to stay here and have decided not to sell. For some reason the new listings dropped to 21 when we were expecting about 41. Last December the number of new listings was 50% higher than this year. Sales were just putting along at 41 which was in a slightly downward trend for the Fall (this is normal). We need our sellers to jump back in. There are plenty of buyers and they can absorb moderate price increases.
New Listings and Sales for 2015
Laguna Niguel New Listings and Sales
Look at that tiny blue column near the far right. This number needs to reverse in January. If it stays at record lows, prices will climb more than you can imagine. Buyers will be overbidding for a home, just to get one. It becomes so difficult for the lenders and appraisers to handle. If people do not have to move, they will stay in places they love. Laguna Niguel is home to many happy homeowners.
The green columns show the sales. Sales have declined slightly over the Fall, but not much and are in line with the beginning of the year. Sales show a normal pattern of slowing in Fall and picking up as the inventory jumps in March through July, then there is a last minute spurt of activity and a slowdown.
Would you like to see the full report? Full Report You can click that link, then scroll down and click on any month. A list of addresses will appear and you can click on any address for more information. When you click on an address, an icon will appear with more information and another link. You will see the MLS number and you can use the right column of this blog to use the MLS number to see all the pictures and all of the information.
Would you like to see what the street address screen looks like? This one is not linked to anything but it shows you the display you will see.
Sales in December
The screen capture is a little fuzzy but when you access this screen, it will be crisp and clear.
How about the prices ? What do you think happened to the average price? Sales volume was normal even though new listings were very low
But prices did drop on the average to $887,829 from $1,174,964 the month before. Only one month in the entire year had a lower average sales price.
Average Price for Laguna Niguel homes was $887,829 The real test is the Median Price.
Median Price was $825,000
Now that may be a more comfortable price for many buyers. Still at $825,000 (the exact middle of all prices), half of the sales were less expensive and half were more expensive. What was the most expensive home sold? 19 Emerald Glen
19 Emerald Glen It was sold before it entered the market officially. Great Home!
The Median prices have maintained a range all year. If we see restricted inventory through January and February, the median price will rise significantly. We believe the current prices are still affordable for many buyers but if they get higher, the buyers will move inland.
Would you like more information about the city? City of Laguna Niguel The city website has lots of information.
How about the schools and general community information? School information
Let’s go fishing
There is no end of fun things to do. But don’t forget about the great schools, shopping, access to freeways, minutes from the beach, and views from so many homes. Call or email me for more information. firstname.lastname@example.org 949 230-1834 I can help you get pre-approved for a home loan at competitive rates. This is the time to buy. Don’t wait.
December 6th, 2015 | Coastal Real Estate,Housing Inventory,Laguna Niguel,Palisades Home Sales,Residential Real Estate,South Orange County Schools |
November has a very low number of closing days. Of the 30 available days, Veteran’s Day is a lost day and Thanksgiving is two more lost days. Therefore, we have lost 3 days or 10% of our normal month. What what were the statistics for November for Laguna Niguel single family homes? Before we jump into the stats, take a look at the city’s park. There is an Olympic pool, gym, fields for games, an amphitheater and much more!
Were the number of sales and new listings lower?
New Listing and Sales dropped
The new listings dropped to the lowest of the last twelve months with the exception of last December. Laguna Niguel homeowners typically put their homes up for sale in the early Spring. During the last few months of the year, the homeowners, many are families, tend to want to stay put for the holidays and school. In the Spring, they want to make their moves and get into their new homes by July or August.
Regarding the sales, sales were also the second lowest number of the last 12 months. The increase in the average days on market reflect the days the lenders and the County were closed. Many escrows were delayed. You cannot close an escrow if the County of Orange is not open. Even then 100 days is acceptable for a property coming on the market, being shown to interested buyers, negotiating with the buyers, accepting an offer and working with the lenders to finance and complete the transaction.
What a view! This is why people want to live in Laguna Niguel!
What a beautiful view? Laguna Niguel is very hilly and from some of these hills you can enjoy views of the ocean. All the views have wonderful city lights. In Southern California you can be outside all day and evening and not be accosted by bugs. You can actually relax and breathe in clean air.
So we know that activity was slow. Did that affect the average price?
Average Price for November was $1,104,497
That was actually very high for the year! Only June had a higher average price. Average prices are heavily influenced by a few very expensive homes. In fact there was a home sold for $3,900,000. Would you like to see it? Click on this link 10 Hermitage
10 Hermitage – A very nice place to call home!
What about the median prices?
Median Price in November $925,000
The sellers gave the buyers a 2% discount on the price on average. In negotiating the price of 10 Hermitage, the seller only brought his price down from $3,999,000 to $3,900,000. Obviously the seller was firm on the price, but the buyer still paid $99,000 less than the asking price. That home was only on the market for 78 days between the start of the listing period and the close of escrow. $925,000 is the highest median price all year. Prices are trending upward.
Would you like to see the full report with the addresses and specific information about the sold listings? The full report Click on any month the list of sold home addresses will appear. Click on any address and you will see specific information.
Are you wondering what the most expensive home on the market is all about? It is 31662 Isle Vista. Click on this link Isle Vista
This home is priced at $5,488,000
The home has 8500 square feet and panoramic views of the ocean. Lots of privacy too!
Would you like to see the school information and Laguna Niguel information provided by California Title? Title information
This city is very well financed and run by competent people. Feel free to visit the city hall!
Our new city hall
Please call or email me if you would like to see any of the active listings in Laguna Niguel. Prices are rising so now is a good time to buy! There is good reason to suspect interest rates will start to creep up too! Email email@example.com. Active listings
November 16th, 2015 | Coastal Real Estate,Housing Inventory,Laguna Niguel,Orange County real estate,Palisades Home Sales,Residential Real Estate |
Isn’t this lovely? There are ocean views from some properties in Laguna Niguel. This view could be yours.
This is why people love to live here. Ocean close and newer homes with utilities underground and views like this.
New Listings and Sales 2015
New Listings are Steady but Sales are Slowing
The last quarter has been flat for new listings but definitely slowing for sales. Still, the ones that sold had only been on the market for 87 days or less on average. This is a very small number compared to the average for the last 12 months. As you can see, inventory is building. Year-to-date sales are less than year-to date new listings. This is the time of year this imbalance starts. Expect December sales to perk up. People will rush in to purchase something before the end of the year. And December is not the month homeowners want to show their property. The holidays and presents make it difficult to keep the property tidy and make it easy to worry that someone will steal the presents. The sellers looking to sell in the coming year usually come on the market after Super Bowl. Let’s see what happens this year.
2015 Average Prices
The average price was not the highest year-to-date price.
Average Price for October 2015 was$967,316. Most of the year we hovered between $950,000 and $1,075,000 with the sellers giving the buyers discounts and credits worth around 3%.
Crown Valley Park
This is just one of the reasons people love this city. There is a wonderful city park and lake as well as numerous community parks, trails, and sporting events. You don’t have to leave this city to have time off. And there is the beach only a few minutes away!
Would you like to see the whole market report? Market Report Click on that link. Scroll down when you see the report and click on a month. Scroll down and you will see each of the sales with the address. Click on the address for more information on that listing. Prices are rising.
The Median Price for October was $875,750.
These prices are more understandable. The Median Price is not affected by an unusually expensive home. We do have some very exclusive areas with large, beautiful ocean-view homes. However, there are many affordably-priced homes with excellent appointments. If you can afford homes starting in the $500,000’s, you can afford a home here. It is coastal Southern California which is more expensive than most of the USA, but it is worth every penny or people would not pay these prices.
Laguna Niguel has great access to great shopping!
Transportation up and down the coast and across the nation?
Amtrak has a station in Laguna Niguel
Would you like more information on this city? The City of Laguna Niguel
Give me a call or send me an email if you are interested in looking at homes here. Cathleen@CathleenPryor.com . I can tailor the information to your particular need.
Thanks for reading this! I do this just to give you free information that you can use and enjoy. Have fun!