YTD 2011 San Clemente Home Sales Still Strong

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December 27, 2011
67 Homes Sold in November 2011

San Clemente is recovering.  Sales were up from October and 10% over November 2010.  Excellent end to 2011 with one month to go.  The December results will be in soon. New inventory is way down from last year at this time. Most of the foreclosures are behind us but there will be some of those in the inventory for months to come. The average days on market has come way down and at 137 is one of the lowest for the entire year. To be sure, there were a few on the market for a year or two, but most were under 6 months.  The most expensive home sold for $2,850,000 (3016 Eminencia Del Norte).  If you click on the link below these comments you can view this listing in detail. Just click on the link, then click on November, then scroll down and click on 3016 Eminencia.

             Link to the list of sold properties – Click here to see the report
Community information on San Clemente? – http://www.titleadvantage.com/mdocs/SanClemente.pdf
Average Price increases to $642,899

The average price has bobbed around the mid-$600,000 range all year. The important statistic is the sellers have caved in on their last listed price by 4% on average to get the home sold.  That is quite a bit of money when you are spending $650,000.  The most expensive home actually gave almost a 20% discount to get the home sold and it was only on the market for less than 5 months before the offer was accepted.  This was a very serious seller.  If you want a multi-million dollar home and want to get the best price, now is the time to buy. Financing is finally available. I have a lender who is willing to finance foreign nationals with foreign bank accounts, income and tax returns.  Loans are available up to $5 million. Send me an email (cathleen@cathleenpryor.com ).

Median Price for San Clemente Homes Up to $575,000

This is on the low side of the previous 12 months but within the range for the year. The graph line has a tight profile.  You can see there is definitely no downward spiral.  This is the bottom of the market and next year we could see more stability and even a small upward trend.  Once unemployment gets resolved, then there will be a big trend upward.  The government backed lending institutions (Freddie Mac and Fannie Mae) are going to be very forgiving of people caught in the Recession.  If they pay all of their bills on time with the exception of the home that was either foreclosed or sold short of the amount owed, and have a good reason to have lost the home, they can get financing in as little as 3 years.  For some people, 2008 and 2009 were the worst. Now that 2012 is almost here, these people have survived the three years and could be buyers again.

 
Here is to a great 2012 for residential real estate and you too!

Designed by Tim Sainburg from Brambling Design

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

Year to Date San Clemente Condo Inventory Scarce

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December 27, 2011
New Inventory Plummets to 7

New inventory in the San Clemente Condo market almost dropped off the cliff.  Just seven new condo listings came on the market in November and fifteen condos were sold. We were a little worried in September when the new inventory was 27 and the sales were just a meager 11 units. But the situation reversed itself immediately and October sales were almost double the new inventory. Now the November sales are in and we can see the inventory is further reduced.  Hopefully our sellers are paying attention and will bring more condos on the market in January.

The Average Days On Market has increased to 149 from 123 the month prior, but well within the range for 2011.  Most condos were on the market for approximately 140-150 days from the beginning of the listing all the way through to the close of escrow.  In fact, one of the condos was on the market for 493 days which pushed up the average. Many of the condos sold in less than 3 months. The old one was on a busy street and that is undesirable.
Click here for all the details for the last 12 months – Click here to see the report
 
Average Price Drops to $381,860

Condos sold with prices starting at $170,000 all the way up to $865,000. There is a wide selection of properties in San Clemente, some are beach front, others can be back in the hills with no view.  Still, all are beach close.  This is a beautiful community with great shopping, schools, freeway access but still retains its relaxed, beachy ambiance.  These condos are perfect get-aways.  You can feel like you have been on vacation for a week after just a weekend in San Clemente.

Median Price Dips to $345,000

This is about average for 2011.  Half of the condos sold for less than $345,000 and half sold for more. Location, location, location as they say.  If you are curious about the specifics of each condo that sold, click on the link to the Market Report, click on any month and review the list. You can click on a specific address and you will see a picture and access to the MLS number. If you use my link to the right of this blog, you can access the MLS data for that sold listing. All of the pictures are available as well as the homeowners association dues (this can vary widely) and there is an airplane icon in the upper right quadrant of the MLS. If you click on the airplane, you will see a map with access to pictures of the block, the street view and of course, the location with respect to the freeways and the beach.  Have fun!
For this information – Click here to see the report

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

YTD 2011 Laguna Beach Home Sales Decline And New Inventory Spikes

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December 19, 2011
Inventory Increases to 36 – Sales Decline to 24 for November 2011

The new inventory increased to 36 from 33 last month and was the highest number for the last quarter.  Meanwhile the sales dropped slightly to 24 from 26 and 27 in the previous months.  Not a good sign.  Some expensive homes did sell.  There was a $6.825 million dollar home in Emerald Bay and a $6 million dollar home on the Coast Highway with many sales over $1 million.  If you want a closer look at any of the sold homes, click on the link at the bottom of these remarks.  You can look up the property by MLS numbers using my MLS link to the right of the blogging comments.

 
There were some older properties that finally sold including the $6.725 million one.  It was on the market for 767 days, over two years!  The other one took 8 months which is reasonable in that price point.  Overall the average days on market was 209 for Laguna Beach homes.  That is seven months from the date the home was listed to the date the sellers had to move.  Seven months goes by quickly.   One of the homes sold for $75,000 more than the listing price.  That seller was happy!
 
Want to see the details? Click here to see the report
Average Sold Price was $1,815,708

Let’s say you have a couple of million dollars to spend on a beach home in a nice city, definitely look in Laguna Beach!  When you see the views and experience this coastal, eclectic city, you understand why people are drawn here.  It is a very casual city and you cannot tell how much someone is worth just by looking.  Some families have lived here for years and have homes that appreciated 50 times their purchase price.  I knew an elderly priest who lived here in his family home bought back in the 1920′s.  The streets were named after his sisters by the builder.  He remembered that the only phone in town was at the only hotel.  He rode a horse from his family’s home in Pasadena to get here and have a adventure at the same time.  Lots of stories in this town.

Median Home Price Decreases to $1,347,500

This was down from last month but up from the rest of 2011.  This is very encouraging for our sellers.  More people are comfortable with investing in real estate and willing to spend more money to get the right home.  Even at these prices, the homes are under the top of the market by 30% on average but that will not last forever.  If you want that priceless view in this amazing city, now is the time to buy.  If you want a list of the homes currently available, please email me at cathleen@cathleenpryor.com.  I can get financing for foreign buyers with no US income or assets up to 5 million.  Please let me know if you require financing and are having difficulty purchasing here.

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

YTD 2011 Laguna Beach Condominium Sales Stabilize

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December 19, 2011
Laguna Beach Condominium Sales Stabilize – Few are available

There are so few condominium sales in Laguna Beach. Three condos sold last month and there was one for over $1 million.  At most sales topped out at 5 condos for the month.  In fact there are not that many condos in this relatively small city, most residences are homes.   And some of the homes are very, very small – just beach cottages.  The sales included one for $365,000 and one for $470,500.  This is a beautiful area and the per capita income is one of the highest if not the highest in the USA.

 
New inventory was completely absorbed by the sales.  Our Laguna Beach sellers are happy with the market trend over the last three months.
 
Want to see the list of sales, see the specifics of any address including pictures? Click here to see the report
The Average Price for November 2011 was $636,833.

These condos are not cheap but they usually are recently remodeled from single family residences or recently built.  You can expect views and good locations.  Beach cities tend to be noisy so think about purchasing dual paned windows if your condo does not have them. 

The one in the middle was priced at $470,500

 There we are.  If there are only three sales, then the one in the middle becomes the median price.  This is not an average price.  Prices above or below it do not affect it and that is why it differs so much from the average price.  This price jumps all over the place during the year depending on the few that sell.

Designed by Tim Sainburg from Brambling Design

Designed by Tim Sainburg from Brambling Design

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

2011 YTD Laguna Niguel Home Sales start Fall Slowdown

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December 15, 2011
Sales Dwindle to 34 – Down 10% from Previous Month

 Fall is usually the slow season for suburban communities here.  Most people move in late Spring or Summer.  Fall is saved for family events, holidays and football.  Sales this last month were down 10% from the previous month and down 17% from 2010 at this same time.  Accordingly the days on market climbed to 175 from 155.  The adjusted figures for last month show sales keeping up with new inventory or exceeding it, but here we are on the downside.  Sales will start picking up in mid-January when the homeowners pack up the Christmas decorations and get their homes on the market for sale.  Now is the time to move up or downsize.  Interest rates are 4% and prices are down by 30%.  This saves you money on your monthly payment and your taxes for as long as you own the home.

Want the details? Click here to see the report
Curious about Laguna Niguel?  Click this link for community information -http://www.titleadvantage.com/mdocs/LagunaNiguel.pdf
Average Price for Laguna Niguel Homes $819,850  November 2011

One home sold for $4.4 million dollars and a couple sold around $2 million but most sales were far less.  It is nice to see that the buyer with $4.4 million to spend, chose Laguna Niguel. There are expensive homes with panoramic ocean views for sale in Laguna Niguel. You can even find a lot or two that could be developed for a residence.  The days on market was influenced by several homes on the market for nearly or over a year, one home was on the market for 715 days. I think that is a record. The average price break given by the sellers was unduly influenced by the one sale.  That seller took $600,000 off his price to get it sold.

The Median Price increased to $679,750

The median price increased significantly over the previous three months but was in line with most of 2011. If you can afford a home priced between $650,000 and $800,000, you have to look at Laguna Niguel.  The beauty of this community has to be seen to really be appreciated.  Ocean close with rolling hills and views of the ocean, city lights and the snow-capped mountains.  Excellent schools, shopping, freeway access, city and county government, low taxes and more!

 

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

2011 YTD Laguna Niguel Condos Sales Stabilize

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December 12, 2011
November Sales Identical to October at 32

This is 40% higher than sales were last year at this time.  And last year sales then leapt upward in December.  Let’s hope for a repeat this year except that at 32 sales, we are already above December of 2010.  The sky is the limit. Laguna Niguel is a very popular area to live, work or play in. The amazing statistic is the number of days on market for some of these properties. One was almost 2 years.  There is one development on Clubhouse with about a hundred units that can only be sold to cash buyers.  That severely limits the marketability of those properties.Most properties moved to close in less than 4 months which is very good. Condominiums were very hard hit in this recession.  Those owners tend to move more often and cannot tolerate extremely slow markets.

 
For the full report -Click here to see the report
Laguna Niguel Condo Average Price for November $263,771

We had not seen an average price this low since August. The sellers only gave an average of 3% off the last listed price so the buyers will come close to the listed price if they agree with it.  There were a number of short sales and foreclosures included and that tends to lower the average prices.  Many times these units need renovation.

For more information on the specifics  -Click here to see the report
Laguna Niguel Condo Median Price for November $232,500

This is very low and means that lots of cheaper condos were moved off the market.  Foreclosures and short sales cause this to happen. Once a foreclosure sits on the market for 60-90 days without an offer, the lender will systematically start dropping the price. You could see a price drop $10,000 every three weeks on a property until it sells.

 
If you would like a list of the active foreclosures, short sales and distressed properties in Laguna Niguel, email me! cathleen@cathleenpryor.com

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

YTD Mission Viejo 92692 Sales Still Strong

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December 12, 2011
Mission Viejo Sales 46 for November

Mission Viejo Sales in this area have just been good this year with the exception of February.  There is a lot of activity. While the actual number of sales has inched down over the past few months, there is not a huge difference between months and the basic number is in the upper forties and fifties.  My guess is that everyone knows of at least four homes that have sold nearby to their home and have a good idea of what their home is worth in this market. The average days on the market was only 112.

 
Click here for the report -Click here to see the report
 
Mission Viejo Community Information — Click on this link –  http://www.titleadvantage.com/mdocs/MissionViejo.pdf
$458,454 Average Price in November 2011

This month and last month marked the bottom of the average price in 2011.  Prices have come down and now is the time to buy.  None of the homes sold for more than $1 million dollars.  This area is close to freeways, the beach, has excellent schools, shopping and golf.  It is just on the other side of the main freeway bisecting South Orange County.  A little warmer than the Coastal Cities and beautiful

Median Price in November is $452,000

The median price is also low for the year but not the bottom.  There were some really cheap homes that drove the average price down. This shows most of the homes were closer to this price.  If you can afford $450,000 for a home, then take a look at Mission Viejo!

 

 

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

YTD Coto de Caza Sales Slow – Inventory Picks Up

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December 12, 2011

Sales Drop to 32 Lowest in 9 months - New Inventory Increases to 45

Sales slowed in August and September but then popped right back up in October and were in line with last December. But this November, sales dropped to levels not seen since the beginning of 2011. There were a lot of sales in the under $1 million price range.  Only one home sold for over a million and the seller gave a 9% discount to get the home sold. That is unusual. The Days on Market have not changed much and it now stands at 146 days before the average home closes escrow.  There were three homes on the market for a year or more, but many sold in less than 3 months.  This means the short sales are moving much faster and lenders are either approving them or rejecting them quickly.  If the seller has sufficient assets, the lenders do not have to approve the short sale.  This does motivate some people to walk away from their homes if they feel their assets are being drained to retain a home they no longer want. On the other hand, if they do walk away and have sufficient assets, lenders can foreclose and go after these people anyway, especially second trustees. 
 
Click here for the details -  Click here to see the report
Community Information – http://www.titleadvantage.com/mdocs/CotoDeCaza.pdf
Average Sales Price $570,606 is the Lowest in 2011

The average sales price was only 3% lower than the average asking price which means sellers were getting offers very close to their asking prices.  There were just a lot of cheaper homes on the market and they were scooped up by the buyers.  The buyers looking for more expensive properties are taking their time or may be waiting for after the new year to make their move.

Median Price in November 2011 $580,000

This was not the lowest median price of the year but there was only one month that was lower. In May the median price was $548,000.  This just tells you that half of the homes sold for less than $580,000.  This is a very exclusive area with guarded gates surrounding the perimeter, a golf course, elementary schools, rolling hills and a wildlife canyon area next door.

 

Categories: Coto de Caza, Residential Real Estate.

YTD Dec Aliso Viejo Home Sales Drop by 50%

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December 7, 2011
Sales Plummet to 11 Sold for the Month of November

The bad news is the sales in November were the lowest of the year with the exception of February, another month with many holidays.  Actually, Thanksgiving weekend is usually the slowest real estate period of the year.  Christmas and New Year are more active.  Presumably, everyone is out shopping which is what the economy needs. Last year there were 13 sales for November and October.  This year October was excellent with 22 sold and only 13 new listings.  The good news is that there were only 13 new listings for November too, so the sales of 11 leaves us with additional inventory of only two homes. Overall there are 58 homes for sale in Aliso Viejo currently, plenty of inventory at all price brackets.  This is a newer community with almost all of the homes built after 1989.  Fifty-one of the 58 homes on the market, in fact, were built after 1989.

Four of the homes were on the market for around 200 days but that was the maximum. The average days on market was 131, one of the highest this year and up from 119 in October.
 
For more details on the actual sales - Click here to see the report
Click on the above link, then scroll down to the month, click on any month, the individual sales appear with links to more specific information.

Average Price in November 2011 Hits Highest Point Yet $751,067

Then there is the good news.  More expensive homes are selling. Four sold between $936,000 and $1,269,000.  This was by far the best month for the sellers with higher priced homes. The cheapest home sold for $185,100 but it was an attached home which feels like a condo. 

Median Price Skyrockets to $712,142

Thank you to our buyers. When more expensive homes sell, then the median price shifts upward too. The highest median price for the last year before we got the November results was $635,500.
 
Would you like more information on this community? http://www.titleadvantage.com/mdocs/AlisoViejo.pdf
 

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

YTD Dec 1, 2011 – Aliso Viejo Condo Sales Increase 8% But New Inventory Still Ample

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December 4, 2011
Sales Increase to 40 – New Listings Arrive

The sellers in Aliso Viejo have jumped back into the market. Just when new inventory was dropping down to levels unseen in more than a year, we have a surge of interest by our sellers!  Until October and September, 42 new listings was our low point.  The market was surging with new inventory for most of this year and buyers were scooping up the bargains and the over-improved properties that were offered as short sales.  Many condominium owners borrowed money to put in new kitchens and bathrooms, travertine and granite everywhere.  Then the market crashed.  Condominum owners move more often than other homeowners and many were caught off guard by the market’s swift decline. (Don’t you hate the unethical loan brokers who falsified loan applications and got people into loans they could not afford for more than 3 years?)  Anyway, there are some absolutely beautiful condominiums selling for prices that do not include all of the money spent for upgrades.  Most of the upgrades were made using second or equity loans on the properties and in a foreclosure or short sale situation, those loans are removed for the buyer for pennies on the dollar.  In a HAFA sale, an equity or second loan on the house could settle for as little as $3000 to remove their lien for the buyer. Most of these loans exceed $100,000.  Buyers can capture their first home at bargain prices and enjoy the upgrades without paying more for them. The Days on Market number dropped to 117, the lowest this year. One unit closed in 2 weeks!

 
For information on current listings including foreclosures, short sales, bank-owned property – email me at cathleen@cathleenpryor.com
 
For details on  the above sales- Click here to see the report
Community Information -http://www.titleadvantage.com/mdocs/AlisoViejo.pdf

Average Price in November 2011 $311,912

The average price was up from October but well within the range for the last year. On the average sellers gave buyers a 3% discount on their last listed price to get the unit sold. This was also within the range all year long.  Once the price is lowered to where the market is, the buyers will offer maybe 5% less and the agreement will be between 2% and 3% of the listed price.  Everyone wants to negotiate, but sellers do not accept ridiculously low offers. Condominium prices are the lowest prices you can pay for owning your own residence in Aliso Viejo.  Inventory is good, come and take a look.  If you are an investor, there is a good market for great tenants.  This community is centrally located and has easy access to numerous freeways, toll roads  and parkways.
Median Price Drops to $302,500

The median price for November was one of the lowest in the last year.  It illustrates how motivated the Sellers were and many of these sellers were banks or banks that approved short sales.  When you can purchase a condominium in a community that has developed since 1990, you can expect a fairly recently built structure and good facilities.  Also, this community has the Mello-Roos payment through the tax collector but those bonds are close to being paid in full.  Then the Mello-Roos component of the tax bill will disappear. 

 

 
 

Designed by Tim Sainburg from Brambling Design

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

YTD Dec 1, 2011 Dana Point Condominium Sales Stabilize

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December 4, 2011

YTD Dec 2011 Dana Point Condominium Inventory and Sales Stabilize

Sales for Condominiums in Dana Point have hovered in the 7-10 range for most of the year. Finally inventory is slowing so sales can catch up.  In November, eight properties were newly listed and eight properties sold.  The days on market overall was by far the highest of the last 12 months and for several of these units was staggering. 30 Corniche #A was on the market for 609 days. It finally sold for $189,000.  Some of the condominum projects have expired FHA approvals and that throws all of the financed sales into a tizzy. (Cash buyers have no problem.) A few big lenders will do spot approvals but no guarantees.  If over 15% of the condo owners are behind in their dues, there will be no approval.  You can get financing through a smaller lender though.  I have recommendations on who to contact if this is a problem for you.

Interested in the current condominium inventory in Dana Point? Foreclosures? Short Sales? Email me for a list.  cathleen@cathleenpryor.com

 Want all the details on the above sales? – Click here to see the report

Community information? http://www.titleadvantage.com/mdocs/DanaPoint.pdf

November 2011 Average Price For a Dana Point Condo $334,250

As you might expect, this has dropped from the monthly results for the last 5 months.  It will go back up now that those old units are finally sold.  Sharp investors are buying up the less desirable units for drastically low prices and planning to paint, carpet and rent them out until the market gets red hot again.  In the meantime, the units pay for themselves at these low prices.

Median Price Drops to $332,750

The highest price paid was $510,000. All of the condominiums were sold for very close to the median price.  There was not a wide range.  Some months we have seen million dollar condos sold, but not in November.

 

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

YTD Dec 1st – Dana Point Home Sales Pick Back Up

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December 4, 2011
Home Sales Increase by 25% in November

The November home sales for Dana Point were up by 25%  over September.  This is a welcome trend that is emerging. Sales almost dropped off the map in October. New inventory was extremely low but higher than the dismal sales figure.  That is not a good sign.  We are in the slower Fall season so there is no reason to expect much but we don’t want to see the market grind to a halt. We should not have worried.  Not only are sales up significantly, the old inventory on the market is moving. Properties on the market for over a year have finally sold.  The average days on market increased to 146, but that was not the highest number over the last twelve months. In fact, most homes were sold in less than 6 months.

 
Interested in the current inventory in Dana Point? Foreclosures? Short Sales? Email me for a list.  cathleen@cathleenpryor.com
 
Want all the details on the above sales? Click here to see the report
Average Price for November 2011   $875,447

The average price dropped due to the change in the mix of sales. In October, there were two sales over $2 million. This month there was only one and more smaller sales. Sellers gave the buyers an average discount of 7% which was influenced by the expensive homes dropping their prices by more than 7%. Indigo way dropped its price by12% and Sea Island by 10%, for instance.

Median Price for Dana Point Homes in November 2011 – $685,000

This is the best median price we have seen for months. Half of the homes were sold for less than $685,000.  This ocean-close community is so beautiful, you really have to look here if you want coastal living at an affordable price.  Of course, I am comparing homes here to Laguna Beach (next city up the coast) and Newport Beach which is only 20 minutes up the coast.

 
Dana Point Community Information-http://www.titleadvantage.com/mdocs/DanaPoint.pdf

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