Real Estate Sales in Coastal South Orange County California
Beautiful San Clemente Beach
Take a minute and read about the wonderful community of San Clemente and its history. California Title Company’s Community Information link -http://www.titleadvantage.com/mdocs/SanClemente.pdf
Categories: Coastal Condominiums, Coastal Single Family Homes, Residential Real Estate, San Clemente.
For sellers this is extremely good news. New listings are declining and the buyers are absorbing the old inventory. The days on market declined, of course, to 129; that was one of the very best months this year. There were three very old listings that finally sold but most were much less than 4 months. The inventory in September really spiked up and caused some worry because sales were declining. However, the buyers must have been waiting for the right deal and were able to close the transaction quickly. There are a number of investors picking up beach condos as investments or weekend get-aways.
San Clemente Average Price Rises to $474,618
This was the highest average price this quarter. There was one condo that sold for $1,300,000, down from the listed price of $1,690,000 (24% discount) and it pushed the average price way up over last month. This was also the one that was on the market the longest – 402 days. The others were much, much less.
If you want a better look at a listing, just click on the link at the bottom of the blog post, the market report will appear, scroll down and click on October, scroll down and click on the first address. The listing information, an icon and a map will appear. If you note the MLS number and then go to the blog and click on my active link to the MLS, you can input the number and find the full listing as well as all the photos.
Median Price $350,000
This is more like it for San Clemente Condos. This price is right in the ballpark of the prices over the last 6 months but it is down from the price levels early in the year.
For more details – Click here to see the report
Categories: Coastal Condominiums, Residential Real Estate, San Clemente.
57 New Listings and 60 Sales
Since May, the new listings and sales have kept pace with each other. Earlier in the year, the inventory was overwhelming the market’s ability to absorb it. This is a much healthier market even though the sales and new listings have decreased from the levels set in January through April. Some short sales have finally moved off the list. Eighteen homes lingered on the market from 7 months to 14 months. Fortunately these were offset by 22 homes that sold in less than 3 months and as little as 29 days. The average crept up to 153 days.
The Average Price Dropped below $600,000 for the First Time - $585,473
The average price dropped to its lowest in 12 months. Wow! The sellers have given the buyers 4%, 5% and even 6% off the last listing price to sell the home in the past year. This is amazing. Buyers should definitely look at San Clemente, the sellers are motivated to make the sale work. There are many short sales included in these numbers but even the equity sellers are willing to discount their home to get on with their future. When you sell with the intention of buying immediately, you will take advantage of the low prices for the buyers. The market is pretty much a level playing field. When values go down, you can get your new home for much less too. This is particularly wonderful in California with Proposition 13 cementing in the newest value as the basis for all future taxes. Once we buy in at a low price here, even if the values skyrocket we are protected from ever having an assessor come out and adjusting our property taxes to reflect the current value of the home. The taxes can inch up by 2% a year, but that is affordable. And if the value of the home decreases further, the owner completes a form for the tax assessor to lower the taxes.
The median price was not a shocker. If you have $600,000 to spend on a home, then San Clemente will have several for you to consider. The median price has fluctuated between $580,000 and the low $600,000′s all year. There were only two homes that sold for more than a million dollars. The rest were compressed around this midpoint with a few real bargains on the low end.
Categories: Coastal Single Family Homes, Residential Real Estate, San Clemente.
Click on this link to explore all of the amenities of this community.
Golf is just $10 a round!
Categories: Laguna Woods Condominiums, Residential Real Estate, Retiree Living.
This is a Senior community of about 12,000 residences including the Cooperatives. The condominiums can be rented out 12 months a year and can be a good investment. If someone over age 55 purchases a condominium here, they can eventually rent it out to help pay for assisted living and still leave it to their kids. Renting to seniors is easy. This is a very stable group of people. Some of the renters here have rented for over ten years and expect to continue for 10 or more. They have Social Security and usually, pensions. Each year they typically get a cost-of-living raise and you can raise the rent too. No one will ever be laid off from Social Security. For a person who plans to live here, they will enjoy 7 clubhouses, guard-gated entry, over 120 clubs to join, unlimited activities, classes, sports and fun.
Average Price $229,485 - Low for 2011
There are many good buys here. Some people do not have anyone to leave their property to and the banks and Probate Courts offer these residences at great prices. There are a few short sales too. This is a wonderful place to live!
Categories: Laguna Woods Condominiums, Residential Real Estate, Retiree Living.
Beautiful Lake Mission Viejo
Click on this link for community information:
http://www.titleadvantage.com/mdocs/MissionViejo.pdf
Designed by Tim Sainburg from Brambling Design
Categories: Mission Viejo Homes, Residential Real Estate.
This is a very active area and one of only two zip codes in Mission Viejo, so it represents about half of the market. Sales dropped to 44 for the month, the lowest since February and lower than October 2010. New Listings were up substantially from September, 52 properties came on the market. This was not a record breaker for this area, nearly every month had at least 50 new listings and one month hit 75. But the combination of new inventory surpassing the sold inventory creates a backlog. As you would expect, the average days on market climbed too. It was the third highest for the year and that upsets our sellers. However, only one home was on the market for almost 14 months, more than half the homes sold in less than 4 months. It is the trend that is negative, we are hoping that our buyers want a new home for
Christmas because there is enough inventory to get that perfect home before the year ends. Interest rates are terrific, don’t miss out.
The average sold price is extremely low. Six months of the last year the average prices were at $500,000 or above. The average price dropped by $70,000 over last month. In fact, many sellers with properties valued at over $750,000 have decided to withdraw their homes from the market and wait for better times. The sellers with lower priced homes are finding lots of buyers and the strength of the market is between $450,000 and $600,000 this year. If you can price your home in that range, you will get multiple offers.
This is also the lowest median price for 2011. The highest priced sold homes went for $800,000. This is a drop from the $900,000 – $1.1 million you could expect in this area. This is a beautiful area too. Lake Mission Viejo is minutes away, the schools are excellent, and a range of homes is available – fixers to ultimate remodels of newer homes.
Categories: Canyon Crest Community, Mission Viejo Homes, Residential Real Estate.
Aliso Viejo homeowners are having a great run. In the past three months ( a lifetime in this real estate market), more homes have sold than have entered the market. This market is hot. Sales have cooled in the last three months but are so much better than last year and the beginning of this year, sellers will celebrate Thanksgiving with real joy. The days on market have dropped to 126. That means a home closes escrow after being marketed for a month or 6 weeks and then goes through the normal escrow process. If you are a seller with a home that is priced right, be prepared to move. This year has been a year of short “Days on Market” averages.
This was down from last month ($590,449) and low compared to many months of 2011 but it shows how many motivated sellers there are. The Aliso Viejo community is full of sellers that are moving up in their careers, forging new relationships (business and personal), and pursuing their dreams. It is a fairly young community and sellers are aggressively seeking buyers. This is an opportunity for every buyer or investor. Aliso Viejo has so much to offer. Click on the blog post with the community information to learn more.
This was a little low for the year, but not by much. If you have $500,000 in your budget to purchase a home at these low, low interest rates, then look in Aliso Viejo. In the last year, half the homes have sold for less than $550,000 in many months and you should buy one. This community offers so much for buyers. The housing has been recently built, the homeowners associations dues are reasonable and well-deserved (Ever lived on a street next to a home in need of repair or with junk in the front yard?), shopping is prolific and the beach is close (10-15 minutes). Do you prefer Aliso Creek Beach or Laguna Beach?
For more information – Click here to see the report
Categories: Aliso Viejo, Coastal Single Family Homes, Residential Real Estate.
Aliso Viejo Community Information
See California Title Community Information on this city – Click on this link and download the report http://www.titleadvantage.com/mdocs/AlisoViejo.pdf
Designed by Tim Sainburg from Brambling Design
Designed by Tim Sainburg from Brambling Design
Categories: Aliso Viejo, Coastal Condominiums, Coastal Single Family Homes, Residential Real Estate.
Sales are Down and Inventory is Up
October was a disappointing month for sellers. For the first time in months, new inventory surpassed the sales. And if that was not dismal news, the sales dropped to the lowest point in the last 12 months. The days on market increased as you would expect, from 151 to 163, and resulted in the longest time an average sold home was on the market in the last year. To be sure there were short sales responsible for the days on market figure with several exceeding a year. Overwhelmingly most were less than 6 months. We were hoping for a better October but so were the Yankees.
Average Sales Price Drops to $291,505
There was only one month lower than October’s average price in the last 12 months. August was the low point and then prices recovered immediately. Let’s hope for a repeat. Sellers gave buyers an average discount of 3% to get the units sold and that was the trend for the last three months.
The Median Sales Price Dipped to $290,000
This dropped by $20,000 from last month but was a $20,000 improvement over September. The median prices for condominiums in Aliso Viejo in 2011 were well over $300,000. Many of the smaller condos that investors prefer are being bought now. These almost always have a positive cash flow from the very beginning.
For more details, pictures and maps -Click here to see the report
Categories: Aliso Viejo, Coastal Condominiums, Residential Real Estate.
The beautiful new City Hall is all paid for too! We have great elected officials.
Designed by Tim Sainburg from Brambling Design
Designed by Tim Sainburg from Brambling Design
Categories: Laguna Niguel.
Laguna Niguel Home sales were basically the same as last month but disappointingly way under October of last year (42). March through August were stellar months but we seem to be in the Fall slowdown. Sellers have not been shy and the new listings have increased almost 20%. Accordingly, the average days on market were the highest all year with a number of homes on the market for nearly two years before they closed escrow. One that sold for $3,299,000 was on the market 669 days! Another Monarch Crest home sold for $3,700,000 in 406 days but they also lowered their price by 18% to sell. It was an interesting month and most homes sold for way under a million dollars. Way under.
The average price was skewed by the multimillion dollar homes sold and this reversed the price trend set over the last two months. Yet it was right in the ballpark with the average prices in previous months. The sellers lowered their prices by an average of 5% to get their homes sold.
Median Price Lowest in the last 8 Months $635,000
This is the important statistic for buyers. Half of the homes in Laguna Niguel sold for less than $635,000 in October. The really expensive homes can throw the average price way off. The median tells you where the action really is. Most people can afford to buy in Laguna Niguel because usually half of the homes are for sale below $650,000. There is no Mello Roos tax, the home owners associations charge relatively low dues, the schools are award-winning, shopping is great, freeway access is super and the beach is 10 minutes away. Just close enough to go for a walk every day and you can take your dog but not so close that people visiting the beach take all the on street parking in front of your house.
Categories: Coastal Single Family Homes, Laguna Niguel, Residential Real Estate.
24 New Listings and 28 Sales for October - Excellent Trend
The condominium sales in Laguna Niguel continue to bring good news. Year to date there have been 378 new listings over the past 12 months and 367 sales. When you realize some of these were listed with more than one broker, and would count as “new” twice, sales are great. For buyers wanting their first home or investors looking to start or add to their portfolio, this is a perfect time to buy. The condos were only on the market an average of 114 days, that is less than three months from start to finish and it includes short sales. Some of those took over seven months to sell. One cash buyer closed escrow 13 days after the offer was accepted. The market is brisk. Time to buy!
The average price for a condo in Laguna Niguel rose slightly to $290,114
This is up from $286,222 in September but not by much. Both months show a decline in average prices from the levels set in January through May. Sellers started aggressively pricing their properties during the June slowdown and in August sales reached their peak for the year. Even in October, sellers were giving an average discount of 5% off the listed price, this was the highest discount all year.
The median price was up significantly which is interesting. Not since March had the midpoint price been this high. It does show how the very low priced condos affected the average but half of the condos sold went for more than $282,000. There is still plenty of inventory especially if you happen to have some cash for paint, carpet and faucets. Some of the cheaper condominiums just need some updating and cleaning to show well to prospective renters.
Categories: Coastal Condominiums, Laguna Niguel, Residential Real Estate.
Dana Point Sales Drop to 14
This is disappointing news for sellers. After the brisk sales in September, October sales dropped to the low levels of the beginning of the year. New inventory was good, it rose from September. Most homes were on the market for 90 days or less, only one took 7 months to sell. If the home shows well and is priced right, it sells quickly and the loans are funding right on time. This is the best month for this statistic. If you want to sell your home, you might move faster than you expect, be prepared. If you want a list of the current active inventory in Dana Point, just email me and I can place you on an auto-notify program within the MLS.
Dana Point Average Price Stays on Par with September - $886,635
No ground was lost on the average price statistic. Whew! We need stability in our market and this is showing strength. Sellers gave buyers an average discount of 6%, they were generous. Please click on the link at the end of this blog post if you want to see the list of homes. When the report comes up, scroll down click on any month and you will see the addresses. Use my IDX link and input the MLS number if you want to see all of the pictures of the home.
Dana Point Median Price Dips to $622,500
Categories: Coastal Single Family Homes, Dana Point, Residential Real Estate.
Beautiful Dana Point Harbor!
Categories: Coastal Condominiums, Coastal Single Family Homes, Dana Point, Residential Real Estate.
Sales of Condominiums in Dana Point have moved slowly this year and there has been excess inventory for the past two months. The average days on market are increasing (178). Only one month of the last 12 had a higher number. Looking at the sales numbers, nine sales is not that bad, it is about average and it is better than last October (7 sales).
Dana Point Condominium Average Price Rises to $473,844
This was a good month for sellers. The average price rebounded to a good level looking at the past 12 months. Sellers gave buyers an average of 4% off the listed price to get the home sold. That is a good discount when the average is almost $500,000. Sales could have easily weakened but the number of sales did not respond to the economic news.
Median Price Drops to $360,000
This is the perfect illustration of the difference between the average and the median prices. The average gives all prices equal weight and just averages the total. The median dives into the middle sale number and shows that one. In this case half of the sales were under $360,000. If you want an ocean-close condo in the beautiful city of Dana Point with the gorgeous harbor, you may want to buy here and save money over Laguna Beach right next door.
For more information - Click here to see the report
Categories: Coastal Condominiums, Dana Point, Residential Real Estate.
Sales Are Up by 40% Over 2010
This is a much better year for Coto de Caza. There were only 27 sales last October, this year sales are up to 38 homes for the month. It is the third month in a row in which sales have increased but down from May, June and July which were blockbuster months and homes were closing escrow right and left. 2011 will be the recovery year for Coto. There still is a lot of inventory to move, so there will be more bargains. Right now the average days on market for the sold homes is 141 days (less than 5 months). Most of these homes were on the market for less than 4 months. The average was skewed by a few homes that were on the market for a year or more, one took 662 days to sell. Every month has a few more new listings than sales but not all homes add to the inventory. Some owners are taking their homes off the market and waiting for prices to improve and lending requirements to loosen for the million dollar loans.
Average Price for October Dips to $727,091
Interestingly, the average price dropped to the lowest in five months. More less expensive homes were sold and nothing over $2 million. On the other hand, 3 Normandy Court sold in 5 days for $1,906,000. It was very nice but certainly the exception. Click on the link at the bottom of this post. Underneath the graph, click on “October” and a list of addresses will appear. Those are the homes that sold.
Only one other month in the last 12 months had a higher median price. This is the exact middle price of all the sold prices for last month. This means that half of the homes sold for over $682,500 but the spread was fairly compressed. Most homes sold under a $1 million.
Categories: Coto de Caza, Residential Real Estate.
Average Price for Laguna Beach Homes Jumps to $2,136,258
The buyers are back! What recession? The average sold price exceeds every other month in the past twelve by at least $200,000. Some of the blockbuster prices were : $7,200,000 , $4,375,000 and then there was a nice home for $4,125,000. Only five of the twenty-four homes that sold were less than $1,000,000. We certainly have some very happy buyers and sellers after last month.
Thirty-four new homes came on the market which is up from last month but well in line with the monthly numbers over the past year. Twenty-four homes were sold and many were very expensive. If you click on the link at the bottom of this blog post, you will see a report. Scroll down to the months listed below the graph, any of the graphs. That will bring up the list of homes that sold for that month. Click on October and you will see those homes. Then click on any particular address, you will see a map and an icon with a picture of the home. Click on the details link and you will get the information on the home as well as an MLS number. If you click on my MLS link on this blog and input the MLS number of a home, you can see pictures of the inside of the home that are stored in the MLS system.
Median Price Spikes up to $1,612,500
Designed by Tim Sainburg from Brambling Design
Categories: Laguna Beach, Laguna Beach Homes, Residential Real Estate, Uncategorized.
For the last two months the new inventory and the sales have been equal. Three new condos came on the market and three condos sold for both September and October. The average days on market for two of the three condos was less than 60 days, and one condo was on the market for 228 days before it was sold. The two quick sales were the more expensive condos, one sold for $660,000 but was only listed for $639,000. It was bid up. The other condo was listed for almost $1 million dollars ($979,000) and sold for $935,000. Impressive. There is not much inventory in Laguna Beach condominiums so you need to act quickly if you want one.
Average Sales Price Lowest in the Last 4 Months
The average price dropped to $666,666 (interesting number) but there were only three sales. There are so few condominium sales in any month in Laguna Beach, the average can fluctuate widely. Three months in the last year averaged over a million dollars in sales.
Very Few Condos Come on the Market In Laguna Beach in any Month
With only three sales, the one in the middle is the Median Price. This month had two sales in the higher end which pushed this month’s price up over the last three months sales.
For more information – Click here to see the report
Categories: Laguna Beach, Laguna Beach Condos, Residential Real Estate.
Joseph Pryor & Cathleen Pryor, MBA, Broker Associate, Associate Faculty Saddleback College R.E. - DRE 01903431 DRE 01209071 
