Prices are Up! Is Anyone Surprised?

October 15th, 2017 | Coastal Real Estate,Housing Inventory,Laguna Niguel,Orange County real estate,Palisades Home Sales,Residential Real Estate | No Comments »

Look at the trend!

We knew prices were up over the last twelve months but wow!  The median price for September, 2017 is $1,015,500.  The climb this Fall will probably mimic every normal year and you will see a decrease in November and December, then an uptick in January to kick off the Spring selling season.

You might be thinking it just cannot go higher.  There is a market correction every ten years or so and we could be over due.  However, lending has been so tight over the last six years, those loans are not in danger of going South unless we have another massive recession.

Our current Federal Reserve leadership, the current federal lending requirements (Fannie Mae, Freddie Mac and Ginnie Mae) and the economy are quite stable.  We are not seeing much inflation nor liberal underwriting of loans. We do not forecast a loss of employment, even though the jobs for the low paid service sector appear to dominate the new job creation numbers.

How about the inventory?

Inventory is Decreasing

The blue columns are the new properties coming on the market.  Inventory has been absorbed since July which is normal but the trend will be slowing sales. We will see a drop in prices due to over-priced sellers becoming motivated.  To be honest, sellers cannot predict with accuracy the price buyers will offer and can easily price their homes too high.  Sellers tend to be optimistic and interested in selling under certain conditions, but not very motivated.  Buyers tend to be interested in buying a home, but not under pressure to find a home.  The few that are motivated are usually in urgent situations or have the opportunity to buy an under-priced property.  Those buyers are in the minority.

We have seen an uptick in offers just in the last week.  Good news!

What homes are currently on the market in Laguna Niguel?  Click on this link  Active Listings

Would you be interested in seeing the most expensive home on the market?  16 Morning Dove

How beautiful!

Would you like to see the full report on the sales over the last twelve months?  Full Report  Click on any month, you will see all of the addresses, click on an address and you will get the specific information on that home and the MLS #.  Use the link to the right in this blog and you will get into the MLS and can find any of those sold listings with the pictures!

Why live in Laguna Niguel?  Maybe because it is ocean close!

Ocean Close

It is also close to incredible shopping, world class resorts, award-winning schools, and several freeways.  What is not to love?

Email or text me to get pre-approved and find your new home here. Cathleen@cathleenpryor.com   949 230-1834.

New Listings are down and Prices are up!

August 24th, 2017 | Coastal Real Estate,Housing Inventory,Laguna Niguel,Orange County real estate,Residential Real Estate |

This is information from our local multiple listing service.  Our new listings are down from last year. People love living here and do not want to move.  Accordingly, the days a listing sells has shrunk dramatically. Prices have increased  but the months of inventory are still large enough to offer the buyers a choice.

Time to step up!  Get pre-approved, not just pre-qualified and make an offer.  Move into the home you want!  Enjoy the tax savings!

Comparison of Sales and New Listings Year to Date

When prices rise, you know you have made a good investment.  Real Estate offers long term appreciation, tax savings and a place to live or an income stream.  This is a great market. It offers all of those things.

Prices are up!

Prices Seem to be Moderating – Sales are UP!

August 24th, 2017 | Coastal Real Estate,Housing Inventory,Laguna Niguel,Orange County real estate,Residential Real Estate |

Why do we love Laguna Niguel?  This place has everything!

Let’s go picking, walking or fishing-  But first let’s look at the prices!

Median Price for May was $925,500

This price is down from the last three months.  Not unusual. Usually prices jump up in the beginning of the year.  You find out in February after escrows close for January sales, then you know if people are stepping up to higher prices.  As you can see, people were very excited and the prices paid in January and early February were much higher than the previous months.  In February, the median sold price was $960,000 which means half the buyers bought homes under $960,000 and half bought above. Then we dipped in March but recovered to $952,750 in April.

Sellers got ahead of buyers in price as you can see. The median listing price in February was $999,000, but sellers are willing to negotiate.  They came down in price to get the home sold.

Interestingly, we sold more properties in March and in May but the median price still dipped.  We expected good sales numbers in June and July with a slowing starting in August and slowing through the last quarter. The sellers living in homes worth less than $1 million have come on the market in droves.

This changes the median price.  If more homes come on the market at the lower end, more homes will sell at this end and the median price will drop.

What was the most expensive home sold?

Seventy-four homes closed escrow in May.

24582 La Hermosa

This home just received a contingent offer. If you want to make an offer that is not contingent upon the sale of another property, step up! You could get this home.

 

Panoramic Ocean View Residence

March 26th, 2017 | Residential Real Estate |

This ocean view could be yours!

Panoramic view of Dana Point! The blue Pacific is minutes away. This unit is ready for your creative touches. The living room and dining room have wall to wall view windows and French doors. There is a wonderful balcony where you can BBQ, relax and appreciate the panoramic view of the Pacific Ocean. Enjoy warm fires from the living room and master bedroom fireplaces while you gaze out at the Pacific Ocean. Large, open great room feel to the living room, dining room and kitchen. Even the kitchen has a view. Lots of storage in this spacious kitchen. There is a downstairs bedroom and bathroom. Upstairs is an over-sized master bedroom and master bathroom with a large, beautiful balcony and even better views. Your master bedroom walk-in closet is conveniently part of the master bathroom. Down the hall is another bedroom and bathroom. Below the unit is the community garage with two spaces for you and a multitude of cabinets for storage. The stairway down to the pool area is right there. The garage is securely locked at night as well as the entrance to the building. There is an elevator from the garage to the first floor. The Dana by the Sea condominiums were designed by architect Mark Singer. You will be impressed. The Homeowners Association is getting ready to embark on painting the complex. This will require the usual gathering of estimates and Board decisions but the process has started.  Send us an email for an appointment to see this residence.

cathleen@cathleenpryor.com

 

October Sales Increase but the Median Price Decreases

November 6th, 2016 | Coastal Real Estate,Laguna Niguel,Orange County real estate,Residential Real Estate,South Orange County Schools |

 

School and Community Information Report

School and Community Information Report

Are you interested in living in Laguna Niguel?  Concerned about schools?  Good schools are important to any homeowner.  Even if you do not have children living with you, when you put your home on the market, your buyers may have children.  They will pay more for a home in a recognized school district.  You want to appeal to a wide range of buyers to get the best price for your home.  Click on this link to see the information from our title company, California Title.  School and Community Information

What are buyers paying for homes in Laguna Niguel?  Here is the information. The Median Price was $872,000.  This was down from September which is typical for this season.

Median Price was $872,000

The median price has fluctuated widely this year.  It dipped to $800,000 in February then jumped up, corrected slightly, then up again in September.  There were late summer closings.  For some reason, July was slower than normal which put pressure on August. People move during the summer and get ready for Fall and school.  Usually they close in July and move in August, but not this year.  So here we are!  Inventory is low and the Federal Reserve keeps hinting they will raise interest rates.  People who want to buy before interest rates increase are making offers.  And sellers are compromising on their prices.  They want to move.

Sales are up from September. Fifty-six homes sold up.  With the exception of August, this was the best sales month since June.

Sales increase in October

Sales increased in October to 56!

The best news for the sellers is the sales for October outnumbered the new listings.  Actually inventory is low.  If you are looking for the most expensive home listed in Laguna Niguel.  Take a look at 16 Morning Dove, an amazing home.

16 Morning Dove

16 Morning Dove

Awesome home!

Awesome home!

Would you like to see all of the pictures?  16 Morning Dove  This home has 11,000 square feet of residence and the lot is 129,000 square feet.  Enough room for your friends and family! (I hope.)

As the median price indicates, the typical price for a home in Laguna Niguel is much less.  In fact, half of the homes sold for less than $872,000 in October.  But if you need a mansion with an ocean view, you can find it here.

Take a look at all of the active listings and find one you like:

 Active Listings

I will finish the blog in day or two.

July Sales Increase but Inventory is also Increasing

August 14th, 2016 | Coastal Real Estate,Laguna Niguel,Orange County real estate,Palisades Home Sales,Residential Real Estate |
New Listings Exceed Demand

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.

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

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

31731 Isle Vista

Panoramic view

Panoramic view

This would be a home to enjoy!  Some lucky person will buy it.

How are the prices?

Median Price in July $865,000

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. cathleen@cathleenpryor.com

July Sales Down from last year

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 cathleen@cathleenpryor.com now!

Ocean Close

                                                  Ocean Close

 

Would you like to see the entire report? Click on this link Report

June Sales Slow and New Inventory Increased

July 5th, 2016 | Coastal Real Estate,Housing Inventory,Laguna Niguel,Orange County real estate,Residential Real Estate |
Inventory Builds

                                                            Inventory Builds

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

                                    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

                                                24582 La Hermosa

What is happening with the median price?

Median Price for June $895,000

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?

31662 Isle Vista

Many homes have ocean views!

School and Community Information Report

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!

Let’s enjoy a picnic or go fishing!

Inventory is Building!

July 5th, 2016 | Coastal Real Estate,Laguna Niguel,Orange County real estate,Residential Real Estate |
Sellers have overwhelmed the market

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

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.

 

Median Sales Price drops from $935,000 to $917,500 in one month

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

Median Sales Price $917,500  Why were the sellers so willing to negotiate downward?  Look at the sales versus new inventory report.

Sold properties dropped

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

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?

Active Properties

31662 Isle Vista, Laguna Niguel

31662 Isle Vista

31662 Isle Vista!  What a view!

31662 Isle Vista - How beautiful!

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!

What a view!

Let's go fishing

Let’s go fishing  Laguna Niguel Regional Park

 

Would you like to go shopping? Shops at Mission Viejo

Would you like to go shopping? Shops at Mission Viejo    

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.

Inventory is turning the market back from a seller’s market

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 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

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 Price was $951,000

    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?

Laguna Niguel

School and Community Information Report

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

31645 Peppertree Bend $9,950,000

The ocean and city lights at night.

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

Amtrak has a station in Laguna Niguel!

 


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