November 5th, 2011 | Aliso Viejo,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.
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October 5th, 2011 | Aliso Viejo,Residential Real Estate |
- 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.
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.
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October 5th, 2011 | Aliso Viejo,Residential Real Estate |
- 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.
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September 5th, 2011 | Aliso Viejo,Residential Real Estate |
Single Family Homes Sales at 12 Month High
This has been an interesting year for Aliso Viejo. January and February were very slow. March through May showed strength, then June was disappointing. July and now August are robust excellent sales months. Sales outpaced new listings by 30%. Inventory quickly disappears under those conditions. The Days on the Market figure has averaged around 100 days for months. Sellers only have their listings on the market for 4-6 weeks before they are put in escrow. If you are a seller, this is exciting. If you are a buyer, don’t waste time. Make an offer on the home you like as soon as possible. Be prepared before you go shopping! Get Underwriting Approval not just Prequalification. When you make your offer, the seller knows that your finances have been reviewed in detail; the tax returns, paystubs, bank accounts, and credit card accounts are documented and the loan is ready to be processed. That will give you priority over another offer. We can get you approved for free. Then we can find your property!
Average Price Drops to $543,729
Sellers are ready to negotiate. The August buyers were given a 4% discount. Prices are low, interest rates unbelievably low, what are you waiting for? This is a newer community built in the 1990′s. The homes have floor plans suited to today’s requirements. Incredible shopping, excellent award-winning schools, freeway and beach close.
Median Price drops to $500,000
Half the homes that sold last month in Aliso Viejo were less than $500,000. These were bargains and you can see why sales have skyrocket.
September 4th, 2011 | Aliso Viejo,Residential Real Estate |
- Inventory Skyrockets!
We have not seen so much new inventory for at least a year. Sales have been strong this year compared to last so our sellers are putting their units on the market . Our first-time buyers and investors can claim all the credit. Aliso Viejo is one of the newest communities in South Orange County and has the lowest Mello Roos of the three (Ladera Ranch, Talega and Aliso Viejo). The Average Days on the Market number has jumped up but that was due to a number of short sales on the market for nearly a year before the escrows closed. Whew! Short sales are anything but short. Long, exhausting sales are more descriptive. If you know of someone in need of selling that owes more than the home is currently worth, please have them call us. We have a team of specialists to advise them and get the sale closed. Keep in mind, there are so many first-time buyers eager to get into their first residence but they can’t afford much. This type of listing can offer them the opportunity they need.
- Average Price Continues to Decline – Now $280,970
The average price has been declining for months. This means a lot of cheaper condos are selling. Do you want one for your home or an investment? Maybe you thought you could not afford one, but look again. At the current interest rates and with a 30% downpayment, you could find an investment that shows a return from the very start. Why not let the tenant pay off the mortgage for you, provide cash flow, and give a deserving person a good home to live in all at the same time? Being a landlord can be a very nice experience and the retirement income you can enjoy one day provides security you can count on.
- Median Price Dips to $269,950
This means that half of the condos (24) sold last month in Aliso Viejo closed with prices of $270,000 or less. That is a lot of units in one month with bargain prices in a relatively new city with newer buildings, pools and amenities. The Mello Roos bonds are getting close to being paid which decreases the monthly payment even more.
August 3rd, 2011 | Aliso Viejo,Residential Real Estate |
Sales back up to 21 for July 2011
Good news! Sales are back in the twenties for Aliso Viejo Single Family homes. March through May sales were strong and then dipped in June. The average days on market continue to be very low, 105 days on market between just listed and sold. Properties are moving swiftly but there is still slightly more inventory than sales for most months.
The Average Price for an Aliso Viejo Home in July 2011 - $598,858
Sellers gave buyers an average of 3% off the last listed price to close the deal. With the short marketing period we see, it means sellers are competitively pricing their property at the start but still negotiating. July’s average sale price rose significantly over June but paled in comparison with April and May. No properties sold for more than $959,000 and very few sold for over $800,000.
Aliso Viejo Median Price for Homes in July $600,000
Aliso Viejo Homes are still very affordable. Half of the homes sold for under $600,000. These are homes built since 1990 for the most part. Mello Roos is very low for the original tracts built in the early 1990′s. The city has great development plans for their city center and manages their staff extremely well. This is a great place to live and work.
For details on the last 12 months – Click here to see the report
August 3rd, 2011 | Aliso Viejo,Residential Real Estate |
43 Condos Sold in July 2011 After Only 3 Months on the Market
Sales of condos dropped slightly compared to the strength we saw in March through June. The average days on the market is growing so short, the properties are almost disappearing into escrow over night. 106 days on the market is barely over 3 months and includes short sales. New listings in July reversed the trend for more sales than new listings that was set in the previous months. Sellers are encouraged and more inventory is coming on the market. Aliso Viejo has some condominium projects that have all the amenities, pool, gym, party room, and other facilities. This city has fantastic shopping, schools, access to freeways and current floorplans with fairly recently built structures, most are in the 1990′s.
The Average Sales Price for July 2011 was $310,000
This is showing a downward trend and indicates a lot of the small units are selling. Sales are still pretty brisk and for the average price to go down, the investors must be out and picking up all the easy rental units. One and two bedroom units close to the beach, shopping, and work are perfect for young people moving out, older people moving down and everyone else.
Median Price in July 2011 $305,000
The last three months have seen a steady median price, down from the prior three months. More less expensive units are selling. If I were renting, I would definitely want to get into a condo in this market before interest rates and prices go up. Renting is so expensive with our tax laws. The best way to keep the money you earn is to own - not rent - and pay a reasonable mortgage so you can leverage your money and buy a better place!
For details- Click here to see the report
July 27th, 2011 | Aliso Viejo,Residential Real Estate |
Only 15 Homes Sold in Aliso Viejo in June
Sales in Aliso Viejo suddenly lost their steam. Over the previous three months 22 or 23 homes sold with new inventory slightly ahead of sales. There was plenty of inventory but not enough buyers able to close. On the other hand, the average days on market for the sold inventory was fairly short, 3 months. In fact, most of the homes closed in less than 90 days, there was one short sale on Abbeywood that was on the market for one year and it skewed the average.
The Average Sold Price Dropped by $100,000
The average sold price was way down for the year. Some of the bank repossessions sold at super bargain prices. Those usually need a considerable amount of repair.
Aliso Viejo Median Price Declines to $585,000
The median price declined too but has recovered from the depths of the past year. We may have a solid base to build our recovery.
For more details on the actual properties – Click here to see the report
July 8th, 2011 | Aliso Viejo,Residential Real Estate |
June Sales were Great for Aliso Viejo Condos - Inventory Still High
This June 51 condos were sold! There was only one other month in the past 12 that had this volume of sales. Sales for condos starting in March have been very good. Aliso Viejo is a relatively young community and the condominiums have current floor plans with so much to offer. The new inventory is up also. If you think you have seen all of them, look again. 55 new listings. The MelloRoos is so low by now that it does not increase the monthly expense by much. The units are moving quickly. The average days on market are 130 which includes the long, exhausting short sales. Equity sellers get offers and close fast if the price is right.
Average price for June is $307,721
More less expensive condos sold in June. The average price was the lowest since February. There are bargains out there and savvy investors will buy them up, rent them out until the market recovers and pocket a bundle. These condos make great investments and the properties are usually in fine shape. Most of the units were built in the 1990′s.
The Median Sold Price Dipped to $300,000 for June 2011
The good news is the sellers are getting very close to their asking prices. The average discount the seller gave the buyer was 2% on the average price and there was no difference between the average median sold price and the median listed price. Buyers should plan to pay market price for the really nice units. Their competitors are doing just that!
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June 14th, 2011 | Aliso Viejo,Residential Real Estate |
- New Listings 33 Sales 18 Disappointing!
Our sellers continuing to bring new inventory on to the market but the buyers are slowing down. There was a trend developing that lost steam. The days on market for the month were encouraging (97). Properties came on and received an offer within 45 days and closed escrow within 45 days, a perfect scenario. But we should have had more buyers close. This may be a reflection of those slow moving short sales. There is a good selection of homes and some have beautiful canyon and/or city lights views.
Average Price Drops Slightly to $602,888
Aliso Viejo average prices have hovered around $600,000 since January. This month two homes sold for over a million dollars and that is good news. There are tracts where you can find exceptional homes with incredible upgrades and views. You will not pay the prices of Laguna Niguel or Laguna Beach either. And you are just minutes from the beach.
Aliso Viejo Median Price $635,500 Best Month in 2011
The expensive homes pushed this statistic up. It is good to see.
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