San Clemente September 2011 Condo Inventory Surges! Prices Drop!

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October 24, 2011

San Clemente Average Price Drops Drastically to $356,050

This is the second lowest average price for the last twelve months.  If you could not afford an ocean-close condo before, you can now.  The average days on market dropped to the second lowest for the year too.  The condos are selling quickly and the sellers are still giving an average of 4% off the last listed price.  It is a buyer’s market. Take advantage of the record low interest rates!  What is not to like about the bottom of the market for a buyer?

Sales Drop to 12 Month Low

Only ten condos sold in September but almost three times that amount came on the market as new inventory.  Over the last four months, sales have surged ahead of new inventory encouraging more sellers obviously.  The sellers that were even considering selling are on the market now.  Time to step in with this burst of enthusiasm.  Condominiums are just the perfect starter or last home! The homeowners association negotiates with the gardners and stays on top of building repairs, pool maintenance, landscaping and gets the best insurance rates. The owners just enjoy life.

San Clemente Median Price Drops to $322,500

The few condos that sold were the cheaper ones but there are more to choose from for the buyers still waiting for the right home or investment.  We will see what happened in October when the results come in next week. The ones that sold were not on the market long but buyers have been depleting the inventory so much over the last four months, this is no surprise.  Many buyers are people with homes elsewhere even in Orange County that want a little beach pad to escape to.  There is one for you too if that is what you would like!

Email or reply to this Blog if you would like a list of current inventory!

For more details – Click here to see the report

Designed by Tim Sainburg from Brambling Design

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

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San Clemente September 2011 Sales Up * Inventory Increases Too!

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October 24, 2011
September Sales Up 18% over August

San Clemente Home Sales were up 18% over August.  More inventory came on the market too.  The new inventory has outpaced sales for the last two months but not by much.  The good news for the buyers is the availability of property. San Clemente has two basic areas, one is near the ocean and has older homes but some outstanding remodeled ones, the other, Talega,  is a very new area with lots of modern amenities, numerous tracts and popular floorplans. Fall is the time when real estate sales slow and people celebrate the holidays.  We will see what happens this year. Unemployment is slowly ebbing.  With jobs coming back to Orange County, more activity will take place. Right now the market is hot for investors looking for a shabby residence in need of cosmetic renovation and first-time buyers getting the deals of the century and record low interest rates.  Lenders are encouraging investors and luring renters into the market.  The borrowers do need good credit but not perfect credit, so now is the time to buy. The average home was on the market only 4 months from start to close of escrow.

Average Sale Price Jumps to $653,808

There were several sales around and over a million dollars last month which pushed this number up.  Some of those mansions on the hillsides and in Talega are spectacular.  If you have the money to spend, you will get the best of both worlds, a great view and easy-going beach community as well as an enormous house with all the upgrades. The sellers gave the buyers an average of 4% off the last listing price to sell the home.  You can negotiate in this market but there is also a good number of realistic sellers that have priced their homes to sell.  This is a good market for many reasons.

Median Price in September 2011 is $631,250

This is more like it. Half of the homes (not condos) sold for less than $631,250.  There are some great buys both old and newer homes for under $600,000.  Click on the link at the bottom of this blog entry and select any one of the tabs across the top (Average, Median, Number of Listings), then scroll down and click on the month (September or any other month) and a list of the actual sales by address will appear. If you are curious about a house, then click on the address and a map and MLS information will appear to the right.

For more information – Click here to see the report

Categories: Coastal Single Family Homes, Residential Real Estate, San Clemente.

September 2011 Mission Viejo North Sales Dwindle – Days on Market Skyrocket

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October 11, 2011

Only Five Sales in September - New Inventory is Decreasing

After all the excitement in June with 15 sales and only three new properties on the market, somehow the wind blew out of the sails (in this case, the sales).  There were only five sales down from a disappointing July and August of six sales each. Inventory continues to outpace sales but not by much.  The concern is the average days on market.  Fortunately there were two sales that really impacted that average, it was not widespread. Deepcreek was on the market for 419 days and Ridgebrook 250.  Most sellers would have taken their homes off the market after 180 days. But the short sale sellers and foreclosures just hang in there until they find the right price for the market or the bank finally gets its act together and gets all the trust deed holders to agree on a sale.  With all the bank mergers, this can be difficult. The banks have to find out just who owns the trust deeds.  Some lenders have just gone poof!  The other sales were closed in three months or less.

Mission Viejo North Average Price Drops to $673,000

This is the lowest average price in the last 12 months.  All of the sales were between $612,000 and $775,000.  These are great prices for living so close to Lake Mission Viejo.  This is a beautiful man-made lake with so many activities and events.  Check it out on the web.

Median Price Also Drops to 12 Month Low

 The median price fell too.  It was interesting that the sales were all at the low end of this area.

For more information – Click here to see the report

Categories: Canyon Crest Community, Mission Viejo Homes, Residential Real Estate, Single Family Homes.

September 2011 Laguna Beach Homes Sales Pick Up but Still Lag Behind New Inventory

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October 10, 2011

Laguna Beach Home Sales Increase 25% to 20 for September

 

This is nice news!  There is a slowdown in most communities but not Laguna Beach. Sales have averaged in the 20′s most of the year in Laguna Niguel but the September sales are up from August unlike the rest of the County.  Unfortunately the sales continue to lag behind the new inventory.  Many more sellers are out there. Buyers need to wake up and smell the coffee!  Try to negotiate the deal you want for the property you yearn for.  This is the time to get the best deal.  The Fall season is dismal for sales and sellers are tired of being on the market.  Bring in a good offer and a quick escrow! You will be suprised.  The inventory is excellent!  For a list of properties including foreclosures and short sales, email me!  cathleen@cathleenpryor.com

Average Price Drops to $1.515 million

Oh my goodness, the average sales price dropped to $100,000 from last month and is the lowest since  April, 2011.  Still most sales were well over $1 million.  The average price was skewed by several listings under $900,000.

September 2011 Median Price for Laguna Beach Homes is $1,397,500

The midpoint of all sales in September 2011 was just about $1.4 million. Half of the homes sold for less, others sold for more.  The most expensive home sold for $4.05 million.  It was a beauty in Emerald Bay.  Click on the details link below for more information.  You can see the actual listing in my IDX link on the home page of the Blog.

For more details – Click here to see the report

 

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

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2011 September Laguna Beach Condo Sales Drop by 60%

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October 9, 2011

Only Two Condos Sold in September 2011

Sales dipped from 5 for August to 2 for September.  We have not had a month in the past 12 that was over 5 and only one that was lower than 2.  Both condos had been on the market for 4 months. One sold for $497,900 and the other $1,150,000.  There was a bidding war for the expensive one, it sold for more than the listed price of $1,021,000.  Let’s face it some of these condos have killer views of the beach, ocean and city lights.  Laguna Beach is a rustic and eclectic community. Very little pretense here.  Great restaurants, entertainment, shopping and schools.

September Average Price dips to $823,950

Well, there were only two sales.  The average prices over the last year are skewed by the fact there are so few sales in any given month.  Suffice it to say, you will need a half a million dollars to buy a condo in Laguna Beach unless it has problems.  But you get to live in Laguna Beach!  If you bought a home, then plan on $1 million +.

Median Price for Laguna Beach Condos September 2011 $823,950

When there are only two sales, the median matches the average price.
 
Want to see the details on each of these? – Click here to see the report

Categories: Coastal Condominiums, Laguna Beach Condos, Residential Real Estate.

September 2011 Laguna Niguel Homes Inventory Still Increasing

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October 7, 2011

New Inventory Continues to Outpace Sales

September, 2011, was not a bad month for Laguna Niguel but it was one of the lowest in the last 12 months. In addition, new listings continue to dominate sales.  There is not much difference, but the accumulative effect is not good for sellers.  IT IS GREAT FOR BUYERS!  Only three of the 36 sold properties were over $1 million.  This is the time to buy in Laguna Niguel.  There are such a great variety of homes to choose. You can find the smaller homes in cosy neighborhoods as well as the mansions in gated neighborhoods with large lots.  Ocean views, mountain views, city views! Buyers have to come to this community to appreciate its diversity and beauty.

Average Price for Laguna Niguel Homes is $679,186

Over the last twelve months, this has fluctuated by $100,000.  This is the second lowest of the 12.  Many more homes under $1 million were sold.  Do not worry that you can no longer afford to live here.  With the current incredibly low interest rates, your good credit and the fabulous inventory, you should buy!  Email me for a list of the current active inventory and the foreclosures and REO’s. cathleen@cathleenpryor.com

Median Price Dips to $646,750

The median price reflects the number of homes that sold for less than this price.   Many homes were bought for far less.  Time to buy is now.

For more details – Click here to see the report

Designed by Tim Sainburg from Brambling Design

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

September 2011 Laguna Niguel Condos Sales Starting to Slow Down

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October 6, 2011

Sales for September Slow to 25 for the Month

Sales of condominiums in Laguna Niguel have slowed down from the fast and furious pace of the last five months to a normal pace in the Fall quarter.  The huge inventory has dropped way back to just 102 Active Listings.  This is just four months of inventory at the present slowed pace.  Buyers have been earnestly looking for their first home or investment or adding another great investment to their portfolio.  Laguna Niguel is such a safe, beautiful ocean-close community with excellent schools and affordable homes, many with views of the mountains, ocean or both.

Email me for a list of the current active listings now – cathleen@cathleenpryor.com

Average Price Increases to $287,520

Sellers gave the buyers an average discount of 4% and the buyers paid some of the lowest prices all year. Only three other months of the last 12 had lower average prices.  Many bargains flew off the shelves. The average days on market were only 96!  Three months from start to finish and that includes those long, long short sale escrows.

Median Price for September Rises Slightly to $265,000

This has bounced all over this past year. This is probably the middle of the median prices set for other months.  On the high end Laguna Niguel condos hit the $325,000 mark.  On the low end it dropped to $231,000 just this last June.

For more details – Click here to see the report

Designed by Tim Sainburg from Brambling Design

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

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September 2011 Mission Viejo 92692 Inventory Increasing But Prices are Rising

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October 5, 2011

Inventory Continues to Outpace Sales

 Usually prices fall when inventory increases but Mission Viejo (92692) is proving otherwise.  Inventory has outpaced sales all year but sales are still strong and more expensive inventory is selling.  This has encouraged more sellers to the market as well as depressed the market for some unfortunately located homes (close to busy streets, high wires, etc.).  The average days on market for the homes that sold was 101, relatively unchanged from the previous month.  If a seller has an attractive home at an attractive price it sells quickly.  The level of inventory has made for a very competitive market.

Mission Viejo 92692 Average Sold Price $ 502,191

  The average price increased slightly from August but was close to the middle of the monthly average prices year-to-date.  If you have a home in the $475,000 to $550,000 price range, it will fly off the shelf.  Multiple offers are the norm for homes in this price range.  Don’t let the pundits in the media depress you.  And the volume, 44 houses in one month, is really good for any area in the South Orange County.

 

Median Price Rises Slightly to $468,450

The median price reveals a price compression between $400,000 and $700,000.  There was one home that sold over $1 million and a few for over $700,000.

Click here to see the report

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

September 2011 Aliso Viejo Homes Sales Drop by 17%

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October 5, 2011
Homes Sales Fall to 24 for September

Aliso Viejo has had a strong year for sales of the single family homes.  With the exception of a weak February, this year has been great.  Sales outweighed new listings for the third month in a row.  Inventory is actually decreasing.  Sellers may see this as encouraging and start coming back on the market.  In the meantime, we could see prices rising. Don’t expect things to get out of control yet.  The banks and government oversight committees will continue to hold the line on prices in most markets.

 
Average Price Rises to $615,204

The average price was pushed up from last month by the sale of 26 Alisal ($1,349,000), but the actual average was close to most prices.  The properties moved in less than 5 months from start to close.  Escrows are taking 45 days for most buyers, longer for short sales. This means sellers can expect their homes to sell within 2 months if they are priced right.  That makes it so much easier to make a move.  Lingering on the market is exhausting.

Median Sales Price Increases to $572,000

 This is the highest price in the last quarter and one of the best all year.  Sellers gave an average discount to the buyers 3% of the average price.  The median sold price was 5% less than the median listed price.  Bottom line – Buyers are negotiating good deals on the last listed price of a property if it falls in the middle of the price range.  If a home has been on the market a while, buyers should see how motivated the seller is.  They could get a bargain late in this year.

For more details – Click here to see the report

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

September 2011 Aliso Viejo Condo Sales Drop 31%

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October 5, 2011
Condo Sales drop to 37 in September

This year has been so much better than last year but we are now experiencing the seasonal slowdown.  Thirty-seven sales would have been wonderful news in 2010.  We have to appreciate the market recovery in South Orange County.  It is slow but appears to have strength.  Some of the old inventory has finally moved off the books.  The average days on market increased to 156 with several listings over 290 days.  Inventory is increasing slightly.  Time to go out looking for your first home or first investment.  This is a popular area for younger singles and families.

Average Sales Price Increases to $317,472

 This was the highest average sales price since April.  There are some very large condominiums available in Aliso Viejo and some with spectacular panoramic views of the mountains and city.  Those don’t come cheap but the average price is part of a compressed range of prices.  The most expensive condos are not a lot more than $317,000.

Median Price for September $310,000

This supports the above commentary.  When the average is very close to the median, prices do not fluctuate widely from either.  If you can afford around $300,000, you will be able to buy most of the condos in Aliso Viejo.  Seller gave 2% discounts on average, so definitely start the negotiations.  You will save a little money.

For more information – Click here to see the report

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

September 2011 Dana Point Million+ Dollar Homes Are Selling

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October 5, 2011

Four of the 17 Homes Sold for Over A Million DollarsThere are  four very happy sellers in Dana Point this month.  They sold their $1,000,000+ properties in September. One home, 27 Ritz Cove, sold for $4.6 million cash.  It had been on the market for 482 days, the seller remodeled and kept reducing the price from the original list price of $6 million.  The buyer knew a great deal when he saw it. Escrow was just 15 days.

The average sold price was not the highest in the last twelve months.  In fact, it ranked 5th.

Dana Point Inventory for Homes Stabilized

Sales decreased from last month but kept pace with new listings. Sales were getting stronger during the last quarter but should decline in the last quarter of the year.  Sales usually dwindle in the Fall and rebound in January through March.  There is great inventory for buyers. Don’t delay your purchase if you can qualify for a loan now at these interest rates.  You can have that ocean view and the charm of the Dana Point community and harbor.

September 2011 Median Price was $650,000

 The median sales price has bounced around in 2011.  This month is in the middle of the pack and just demonstrates the strength of the Dana Point buyers.  Half of the buyers can afford homes in excess of $650,000, but half of them are getting in for less.  Time to buy that first home!  Or your first investment!

Click here to see the report  – For all of the details.  Click on any month to see the listings.

 

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

September 2011 Dana Point Condo Inventory Rises

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October 5, 2011
Inventory Continues to Increase

 

Inventory continues to increase as sales decrease for our sellers in Dana Point.  There were six condos sold and 13 new listings came on the market.  One bright spot was the sale of 34300 Lantern Bay #43 for $1,065,000, cash. It has panoramic views and one of the best unobstructed views in the city.  Congratulations to the buyers! It was on the market for 223 days prior to the close of escrow and the seller gave the buyer an 8% discount to get it done. Most of the sales were for units on the market for far less time. One sold in 22 days and the average was 115 days.

Average Price Increases to $494,500

 

The average price increased slightly due to the million dollar sale but it was in line with the trend set over the last quarter. Each month since May has seen an increase.  With inventory on the rise, that may reverse itself for a few months.  Sellers will face increased competition at a time when buyers drift out of the market waiting for the new year. 

The Median Sales Price Increased to $422,500

The median price also increased. There were only six sold but buyers preferred the more expensive condos.

For all the details in the last 12 months -  Click here to see the report

 

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

October 2011 Wine Alert

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October 2, 2011

October 2011 Wine Alert

Your wine alert for October continues the focus on fall tailgating and quick grilling after busy weekend activities. This month’s alert includes 3 extraordinary red wines from California, France and Argentina.  We encourage you to try all the wines and see if you agree with our assessments.

Region 1 Malbec: This Argentinian is full bodied, soft tannin, opaque red wine with a smoky herbaceous nose. The huge wine has an intense dried black cherry flavor and a cleansing finish. Try this with tri-tip or any bbq steak. This superb value can be found at Big Lot’s at $4.00. Move fast because this quality, distressed wine will sell quickly.

Deer Ridge Vineyards 2005 Cabernet Sauvignon Private Reserve: Wow, a 6 year-old, special occasion, Cab with rich, luscious, full, varietal favors. The aromas are open with oak and chocolate. This award winning winery’s wine is selling for $4.00 at Big Lot’s. Serve this to your friends and they will love it!  

La Vieille Ferme 2010: A Rhone wine that Zinfandel lovers will enjoy. The medium-bodied wine has surprising soft full tannins for a Syrah, Grenache and Carignan blend and fruit-driven nose. This versatile party wine is a great match with hamburgers, pasta or most Cali-Mediterranean foods. Costco has this wine in magnums for $9.99. Good Hunting!

Categories: Wine Alert.