Laguna Niguel’s Expensive Home Market Had Some Wins

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April 21, 2011

Sales were up for March

Laguna Niguel Sales hit 52 for the Month of March. There was only one month, last June when the government incentive was expiring, that had higher sales.  In addition, some very expensive properties were sold. 22812 Seaway Drive sold for $2.45 million and 2 Walking Stick sold for $3.5 million.  Congratulations to the new owners.  Both houses were simply amazing. But the good news did not stop there!  There were 52 new home owners during this past month. This is the peak of the buying season.  If you want to sell your home, now is the best time.

Click this hyperlink to get the details by month and the MLS  information for each house .   Click here to see the report

Median Price fluctuated all year

 

The average price fluctuated also, but the interesting fact is that the sellers sold the homes for within 5% of the final listing price.  Buyers are negotiating good deals. Even banks are listening.

The average price is very volatile and has fluctuated hundreds of dollars

The average price has fluctuated by as much as $325,000 from one month to the next over the last year. One really expensive home in a slow month skews the statistics.

Categories: Coastal Single Family Homes, Laguna Niguel, Residential Real Estate.

Laguna Niguel Condos Still Struggle

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April 18, 2011

Laguna Niguel Condos Clear Old Inventory

The condominum market is still struggling  in Laguna Niguel.  One that closed escrow had been on the market for 14 months.  Over half were on the market for 4 months or longer. Inventory continues to outpace the sales, so this is a difficult time for sellers.  If you find an equity seller, this will be your best opportunity to bargain.  Low interest rates and the entrance of new lenders is helping pick up the pace for lending.  You can close escrow in less than 30 days with the right lender, even less than 21 days.  If you are renting, time to stop.  If you want an investment condo at a bargain price, the time is now.  Over half the properties in Orange County in 2010 were bought by foreigners with cash.  They are still buying. What do they know?  They can see the market turning and the bottom of the market disappears first.  Call me and get pre-qualified with a lender who knows the first time buyer loan market.  I can give you a referral.

 Click here to see the report

Laguna Niguel Average Condo Price Fairly Steady for Last 12 Months

Laguna Niguel Median Price for Condos Also Fairly Stable

Categories: Coastal Condominiums, Laguna Niguel, Residential Real Estate.

Aliso Viejo Single Family Home Sales Recover

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April 18, 2011

Home Sales Recover from Six Month Slump Finally, our Aliso Viejo buyers have closed those short sale escrows. Two homes were on the market for 18 months, one for 17 and another for 13 months. Thankfully most escrows closed in March were for homes on the market less than 3 months (a normal market). The lenders are doing a better job of moving the inventory and the buyers are smart enough to offer nearly market price for the homes. If you did not know already, the lenders cannot accept a price that is under what the bank appraiser says. Those appraisers look at recent sales and give their opinion. Nearly all loans are not really owned by the lenders who made them. Fannie Mae, Freddie Mac or some investment fund on Wall Street or around the globe own the loans and they decide what they are willing to accept. They have no inclination to undercut the value of their portfolios. Equity sellers are still in the best position to negotiate the sale price. They may have an excellent reason to just sell the property for what they can get quickly and move on. This is why you need a good agent to negotiate for you. Stop wasting your time offering an unrealistically low price for a short sale, it won't happen in most cases. Worst of all, the bank can come back with a price you cannot afford and you have wasted all that time.Click here to see the report - Get the detail on each of the last 12 months. You have a choice of three tabs for different charts - Average Price, Median Price, Monthly New Inventory and Sales.Average Price Fluctuates over the Last 12 Months but Fairly Stable

  The average price for March was $578,000.  It has hovered above and below $600,000 all year.

Categories: Aliso Viejo, Coastal Single Family Homes, Residential Real Estate.

Aliso Viejo Condos See a Surge in Supply

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April 18, 2011

Largest Surge in Inventory in the Last 12 Months

Wow! Sixty new listings for the month and 46 sales. March 2011 was a record month.  Several old listings sold, but overall the inventory is moving. One condo sold and closed in a month.  There are still quite a few bargains on the market and sellers ready to move. I hope that any renter who paid income taxes last week and suffered from a lack of deductions will reconsider. Now is the time to buy and I can connect you with a lender that has current information on all the first time buyer programs.

 Click here to see the report

Average Prices Pretty Stable over the Last 12 Months

Categories: Aliso Viejo, Coastal Condominiums, Residential Real Estate.

Dana Point Home Sales Still Weak

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April 7, 2011

Inventory Skyrockets But Sales Are Still Weak

Dana Point home inventory shows that year-to-date new inventory is triple the number of sales. We are hoping for a better Spring season.  Dana Point is a lovely community.  There were two excellent sales; one for $7,050,000 and one for $1,538,000.  The seven million dollar home was marketed at half what it was worth a couple of years ago.  The high end of the market and the condos are always the worst casualties in a Recession.  We seem to be working our way out and one day the buyers today will be bragging about the price they paid.  This is the time to buy!

Click here to see the report

The chart was unduly influenced by expensive lots overlooking the ocean. Still, the average price was $1,242,000. Most homes were sold between $500,000 to $725,000.

Dana Point Average Sales Price Hovers around $1 Million

Categories: Coastal Single Family Homes, Dana Point, Residential Real Estate.

Dana Point Condos Struggle!

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April 6, 2011

Dana Point Condos Average Price Dips to $308,242

Dana Point Condos are trying to recover from the Great Recession.  Two of the condos that sold were on the market for up to two years.  Some distressed properties are in such bad shape; it takes a special buyer to undertake the renovation. We are really happy that those sold. The new inventory remains good.  Sellers continue to provide buyers with great properties.  This is such a beautiful community and right on the ocean.

Click here to see the report

Dana Point Condo Sales Dip to 7 Sales

Categories: Coastal Condominiums, Dana Point, Residential Real Estate.

Mission Viejo Home Sales Nearly Double!

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April 6, 2011

Mission Viejo Home Sales Climb to 57 for March

Homes sales have not been this brisk since September 2010. The average days on the market fell to 106 down 50% from January’s statistics. New inventory remains very good for the buyers and the prices are holding  steady.  The average price is within 1% of the January average price. This is good news for all buyers!

The Average Price remains unchanged from January! Great for Buyers

Categories: Coastal Single Family Homes, Mission Viejo Homes, Residential Real Estate.

Coto de Caza Sales Double!

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April 6, 2011

Coto de Caza Sales jump by 50% over February

Coto de Caza sales jumped to 40, double the February results and nearly double the January results. Wow! New inventory continues to be strong so the buyers have a great variety to choose from.  These homes are in a very exclusive guard gated community with a golf course and all the amenities. Now is the time to move to Coto!

Click here to see the report

Coto de Caza Average Price Climbs to $864,383

Categories: Coto de Caza, Residential Real Estate.

San Clemente Condo Average Price Increases 9%

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April 6, 2011

San Clemente Condo Prices On the Rise

San Clemente Condominium prices are now back on the upswing. The average price rose over $30,000 from February, helped no doubt by the residence on Pasadena that sold for $1.6 million.  What a wonderful condo that is! The good news is the number of units that sold. This is the best month of 2011 with more good news to come. The lenders have relaxed their guidelines and I have a good referral for you if you are having any trouble qualifying.  Small business owners have really had a hard time getting a loan from the major lenders, but there are smaller lenders with the same or better rates that can help you. Give me a call.

Click here to see the report  – Get all the details of each sale

San Clemente Condo Sales are Up and New Inventory is Scarce.

Designed by Tim Sainburg from Brambling Design

Categories: Coastal Condominiums, Residential Real Estate, San Clemente.