BELIEVE STRONG IN THE VALUE OF HOMEOWNERSHIP!
An unexpected 81% of adults say buying a home is the best long-term investment. People may have the feeling that the worst is behind us.
Delinquencies: 7% of Orange County mortgages are delinquent, down 10% from a year ago.
Distress Sales: Will be an issue for a good while longer. New well-crafted loan programs are needed to boost lackluster sales.
Foreclosure Sales: Made up 36% of sales last month and short sales an estimated 18.5%.
Absentee Buyers: Mostly investors and some second-home purchasers accounted for 26% of the sales.
Cash Purchasers: Accounted for 30.5% of home sales.
*Information sources: DataQuick/SoCalMLS/OCRegister 5/01/11
----------------------------------------------------------------
COASTAL AREA SALES DATA AND DISTRESS SALES STATISTICS FOR 2011 FROM 01/01/11:
Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente
Active Listings = 2,440, w/Bank Conditions = 490
In Escrow Listings = 611, w/Bank Conditions = 532
Sold from 01/01/11 = 1241, w/Bank Conditions = 439
*SoCalMLS 05/01/11
-----------------------------------------------------------------
COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR MARCH 2010 COMPARED TO MARCH 2011:
City - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 3 - $1,500,000 - minus 6.3%
Capo Beach - 92624 - 12- $545,000 - minus 7.0%
Corona del Mar - 92625 - 11 - $1,600,000- 14.3%
Costa Mesa - 92626 - 8 - $520,000 - minus 8.9%
Costa Mesa - 92627 -19 - $505,000 - minus 8.9%
Dana Point - 92629 - 11 - $950,000 - 52%
Laguna Beach - 92651 - 24 - $1,120,000 - minus 0.4%
Laguna Niguel - 92677 -57 - $610,000 - minus 13.8%
Newport Beach - 92660 - 24 - $1,410,000 - 1.1%
Newport Beach - 92661- 2 - $1,385,000 - minus 47.7%
Newport Beach - 92663 - 15 - $2,070,000 - 76.6%
Newport Coast - 92657 - 15-- $2,663,000 - minus 8.5%
San Clemente - 92672 - 23- $650,000 - minus 3.8%
San Clemente - 92673 - 37 - $715,000 - 0.7%
*DataQuickNews/LATimes, 05/01/2011
-----------------------------------------------------------------
ZIP Codes: 92662, 92625, 92626, 92627, 92624, 92629, 92651, 92677, 92657, 92657, 92660, 92661, 92662, 92663, 92672, 92673
Approximate Location Boundaries: Coastal Communities of South Orange County
Location Characteristics: Specializing in the South Orange County California Coastal Cities known as the "California Riviera." The cities are Balboa Island, Corona Del Mar, Costa Mesa, Dana Point, Laguna Beach, Newport Beach, Newport Coast and San Clemente. From "Castles to Cottages" there is a home here for everyone. Pamela Horton and Amanda Horton look forward to helping you with your real estate needs in this picturesque area!
Sunday, May 1, 2011
Friday, December 31, 2010
JANUARY 2011 SOUTH ORANGE COUNTY CA COASTAL REAL ESTATE NEWS
TODAY'S MARKET: DISTRESS-SELLING, BARGAIN-HUNTING AND ENTRY-LEVEL BUYING
Today's market can be characterized as much by activity that's not happening, as by the activity that is happening. We're seeing distress-selling, bargain-hunting and entry-level buying, while the rest of the market is still largely on hold.
THE MARKET: Southland home sales dropped for the third month in a row amid renewed doubts about a market that is recovering in fits and starts.
THE GOOD NEWS: The median price moved up on a year-over-year basis for the tenth month in a row and has regained about one-fifth of its loss. The effects on the market of the latest chapter in the foreclosure crisis are unclear.
2010 SALES FOR LAGUNA BEACH: For 2010 a total of 332 homes were reported sold. Up from 282 of 2009 and 206 of 2008. The last highest sale year was 2005 with 420 sold properties. The reason for this difference between 2005 and 2010 is the amount of unsold inventory. The end of 2005 had 169 properties of unsold homes for sale whereas 2010 ended with 287, which is the lowest amount of all months in 2010.
BUYERS: With inventory lowering and median prices increasing you may want to consider that this is the low point of the market. Interest rates are at an all time low. Don't miss the market and end up saying, "I should have bought in 2011."
SELLERS: This doesn't mean it is your market...yet. With inventory high and distress, bargain and entry level sales going on you need to continue to be realistic in pricing and ready to negotiate your sale price.
DQNews, Pamela Horton 12/31/2010
-----------------------------------------------------------------
COASTAL AREA SALES DATA AND DISTRESS SALES STATISTICS OF 2010 FROM 01/01/10 FOR:
Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente
Active Listings = 2,135, w/Bank Conditions = 534
In Escrow Listings = 707, w/Bank Conditions = 408
Sold from 01/01/10 = 4,160, w/Bank Conditions = 1,355
*SOCALMLS 12/31/2010
-----------------------------------------------------------------
COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR NOVEMBER 2009 COMPARED TO NOVEMBER 2010:
City - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 1 - $2,100,000 - 27.3%
Capo Beach - 92624 - 4- $459,000 - minus 38.6%
Cororna del Mar - 92625 - 10 - $2,013,000 - minus 32.1%
Costa Mesa - 92626 - 20 - $530,000 - 2.7%
Costa Mesa - 92627 - 20 - $549,000 - minus 5.4%
Dana Point - 92629 - 23 - $640,000 - minus 2%
Laguna Beach - 92651 - 28 - $1,225,000 - 22.5%
Laguna Niguel - 92677 -42 - $637,000 - minus 4.2%
Newport Beach - 92660 - 31 - $1,205,000 - minus 8%
Newport Beach - 92661- 2 - $2,635,000 - 35.1%
Newport Beach - 92663 - 9 - $1,525,000 - 27.1%
Newport Coast - 92657 - 14 - $2,500,000 - 47.1%
San Clemente - 92672 - 19 - $625,000 - minus 15%
San Clemente - 92673 - 22 - $751,000 - 14.7%
*DQNews/LATimes, 12/31/2010
------------------------------------------------------------------------
ZIP Codes: 92662, 92625, 92626, 92627, 92624, 92629, 92651, 92677, 92657, 92657, 92660, 92661, 92662, 92663, 92672, 92673
Approximate Location Boundaries: Coastal Communities of South Orange County
Location Characteristics: Specializing in the South Orange County California Coastal Cities known as the "California Riviera." The cities are Balboa Island, Corona Del Mar, Costa Mesa, Dana Point, Laguna Beach, Newport Beach, Newport Coast and San Clemente. From "Castles to Cottages" there is a home here for everyone. Pamela Horton and Amanda Horton look forward to helping you with your real estate needs in this picturesque area!
Today's market can be characterized as much by activity that's not happening, as by the activity that is happening. We're seeing distress-selling, bargain-hunting and entry-level buying, while the rest of the market is still largely on hold.
THE MARKET: Southland home sales dropped for the third month in a row amid renewed doubts about a market that is recovering in fits and starts.
THE GOOD NEWS: The median price moved up on a year-over-year basis for the tenth month in a row and has regained about one-fifth of its loss. The effects on the market of the latest chapter in the foreclosure crisis are unclear.
2010 SALES FOR LAGUNA BEACH: For 2010 a total of 332 homes were reported sold. Up from 282 of 2009 and 206 of 2008. The last highest sale year was 2005 with 420 sold properties. The reason for this difference between 2005 and 2010 is the amount of unsold inventory. The end of 2005 had 169 properties of unsold homes for sale whereas 2010 ended with 287, which is the lowest amount of all months in 2010.
BUYERS: With inventory lowering and median prices increasing you may want to consider that this is the low point of the market. Interest rates are at an all time low. Don't miss the market and end up saying, "I should have bought in 2011."
SELLERS: This doesn't mean it is your market...yet. With inventory high and distress, bargain and entry level sales going on you need to continue to be realistic in pricing and ready to negotiate your sale price.
DQNews, Pamela Horton 12/31/2010
-----------------------------------------------------------------
COASTAL AREA SALES DATA AND DISTRESS SALES STATISTICS OF 2010 FROM 01/01/10 FOR:
Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente
Active Listings = 2,135, w/Bank Conditions = 534
In Escrow Listings = 707, w/Bank Conditions = 408
Sold from 01/01/10 = 4,160, w/Bank Conditions = 1,355
*SOCALMLS 12/31/2010
-----------------------------------------------------------------
COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR NOVEMBER 2009 COMPARED TO NOVEMBER 2010:
City - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 1 - $2,100,000 - 27.3%
Capo Beach - 92624 - 4- $459,000 - minus 38.6%
Cororna del Mar - 92625 - 10 - $2,013,000 - minus 32.1%
Costa Mesa - 92626 - 20 - $530,000 - 2.7%
Costa Mesa - 92627 - 20 - $549,000 - minus 5.4%
Dana Point - 92629 - 23 - $640,000 - minus 2%
Laguna Beach - 92651 - 28 - $1,225,000 - 22.5%
Laguna Niguel - 92677 -42 - $637,000 - minus 4.2%
Newport Beach - 92660 - 31 - $1,205,000 - minus 8%
Newport Beach - 92661- 2 - $2,635,000 - 35.1%
Newport Beach - 92663 - 9 - $1,525,000 - 27.1%
Newport Coast - 92657 - 14 - $2,500,000 - 47.1%
San Clemente - 92672 - 19 - $625,000 - minus 15%
San Clemente - 92673 - 22 - $751,000 - 14.7%
*DQNews/LATimes, 12/31/2010
------------------------------------------------------------------------
ZIP Codes: 92662, 92625, 92626, 92627, 92624, 92629, 92651, 92677, 92657, 92657, 92660, 92661, 92662, 92663, 92672, 92673
Approximate Location Boundaries: Coastal Communities of South Orange County
Location Characteristics: Specializing in the South Orange County California Coastal Cities known as the "California Riviera." The cities are Balboa Island, Corona Del Mar, Costa Mesa, Dana Point, Laguna Beach, Newport Beach, Newport Coast and San Clemente. From "Castles to Cottages" there is a home here for everyone. Pamela Horton and Amanda Horton look forward to helping you with your real estate needs in this picturesque area!
Monday, November 29, 2010
DECEMBER 2010 SOUTH ORANGE COUNTY CA COASTAL REAL ESTATE NEWS
OC SALES PREDICTED TO INCREASE IN 2011
Economic activity is increasing in important sectors of Orange County, which is leading to a very slow economic recovery in California. Growth in Orange County manufacturing, professional, scientific, technical and leisure and hospitality services has been more rapid than in other counties as a whole. Although, unemployment still remains low.
It is predicted that residential real estate will see a sluggish housing market for the remainder of this year and into next spring 2011. At that time pent up demand, rising affordability and dissipating fear of a faltering economy should push sales higher.
SALE PRICES INCREASING: In the statistics below of the sale prices compared to 2009 there are only 3 cities with minus sales prices compared to two years ago when most cities had minus amounts. This shows a definite trend of prices picking up.
*UCLA Economic Forecast 10/17/10
Pamela Horton 11/29/10
-----------------------------------------------------------------
COASTAL AREA SALES DATA AND DISTRESS SALES STATISTICS OF 2010 FROM 01/01/10 FOR:
Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente
Active Listings = 2,331, w/Bank Conditions = 510
In Escrow Listings = 827, w/Bank Conditions = 453
Sold from 01/01/10 =3,823, w/Bank Conditions = 1,250
*SOCALMLS 11/29/10
-----------------------------------------------------------------
COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR OCTOBER 2009 COMPARED TO OCTOBER 2010:
City - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 2 - $1,645,000 - n/a
Capo Beach - 92624 - 6- $983,000 - 58.7%
Cororna del Mar - 92625 - 13 - $1,550,000 - 13%
Costa Mesa - 92626 - 11 - $603,000 - 13%
Costa Mesa - 92627 - 18 - $540,000 - minus 9.6%
Dana Point - 92629 - 22 - $675,000 - minus 16%
Laguna Beach - 92651 - 25 - $1,350,000 - 13%
Laguna Niguel - 92677 -45 - $715,000 - 15%
Newport Beach - 92660 - 32 - $1,150,000 - 19%
Newport Beach - 92661- 5 - $2,375,000 - minus 27%
Newport Beach - 92663 - 15 - $1,500,000 - 8%
Newport Coast - 92657 - 7 - $3,000,000 - 36%
San Clemente - 92672 - 28 - $650,000 - 9%
San Clemente - 92673 - 33 - $750,000 - 9%
*DQNews/LATimes, 11/28/2010
Economic activity is increasing in important sectors of Orange County, which is leading to a very slow economic recovery in California. Growth in Orange County manufacturing, professional, scientific, technical and leisure and hospitality services has been more rapid than in other counties as a whole. Although, unemployment still remains low.
It is predicted that residential real estate will see a sluggish housing market for the remainder of this year and into next spring 2011. At that time pent up demand, rising affordability and dissipating fear of a faltering economy should push sales higher.
SALE PRICES INCREASING: In the statistics below of the sale prices compared to 2009 there are only 3 cities with minus sales prices compared to two years ago when most cities had minus amounts. This shows a definite trend of prices picking up.
*UCLA Economic Forecast 10/17/10
Pamela Horton 11/29/10
-----------------------------------------------------------------
COASTAL AREA SALES DATA AND DISTRESS SALES STATISTICS OF 2010 FROM 01/01/10 FOR:
Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente
Active Listings = 2,331, w/Bank Conditions = 510
In Escrow Listings = 827, w/Bank Conditions = 453
Sold from 01/01/10 =3,823, w/Bank Conditions = 1,250
*SOCALMLS 11/29/10
-----------------------------------------------------------------
COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR OCTOBER 2009 COMPARED TO OCTOBER 2010:
City - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 2 - $1,645,000 - n/a
Capo Beach - 92624 - 6- $983,000 - 58.7%
Cororna del Mar - 92625 - 13 - $1,550,000 - 13%
Costa Mesa - 92626 - 11 - $603,000 - 13%
Costa Mesa - 92627 - 18 - $540,000 - minus 9.6%
Dana Point - 92629 - 22 - $675,000 - minus 16%
Laguna Beach - 92651 - 25 - $1,350,000 - 13%
Laguna Niguel - 92677 -45 - $715,000 - 15%
Newport Beach - 92660 - 32 - $1,150,000 - 19%
Newport Beach - 92661- 5 - $2,375,000 - minus 27%
Newport Beach - 92663 - 15 - $1,500,000 - 8%
Newport Coast - 92657 - 7 - $3,000,000 - 36%
San Clemente - 92672 - 28 - $650,000 - 9%
San Clemente - 92673 - 33 - $750,000 - 9%
*DQNews/LATimes, 11/28/2010
Sunday, October 31, 2010
NOVEMBER SOUTH ORANGE COUNTY CA COASTAL REAL ESTATE NEWS
SO CAL HOME MEDIAN PRICE EDGES UP, SALES DROP AGAIN
Southland home sales dropped for the third month in a row amid renewed doubts about a market that is recovering in fits and starts. The median price moved up on a year-over-year basis for the tenth month in a row and has regained about one-fifth of its peak loss. ,
BUYERS: I've said this before and I'm still saying it; this is your market take advantage of the low prices and great deals to be had. Don't wait too long as foreclosures and short sales are lessening or you may be caught saying, "I should have bought in 2010." I hope not!
SELLERS: Please listen to your real estate professional with whom you have placed your trust and confidence to sell a very valued possession...your property. If a price reduction is suggested it is warranted. Amount of showings and lack of offers are signs that a price is too high. When you do receive an offer your agent should negotiate the best price possible and you should accept it. Then you will be ready to move on to the next stage of your life!
*DQNews - Pamela Horton 11/01/10
-----------------------------------------------------------------
COASTAL AREA SALES DATA AND DISTRESS SALES STATISTICS OF 2010 FROM 01/01/10 FOR:
Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente
Active Listings = 2494, w/Bank Conditions = 483
In Escrow Listings = 823, w/Bank Conditions = 468
Sold from 01/01/10 = 3558, w/Bank Conditions = 1165
*SOCALMLS 11/01/10
-----------------------------------------------------------------
COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR SEPTEMBER 2009 COMPARED TO SEPTEMBER 2010:
City - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 3 - $4,000,000 - n/a
Capo Beach - 92624 - 6- $983,000 - 58.7%
Cororna del Mar - 92625 - 11 - $1,500,000 - 8%
Costa Mesa - 92626 - 29 - $499,000 - minus 11.8%
Costa Mesa - 92627 - 24 - $575,000 - 25.7%
Dana Point - 92629 - 14 - $820,000 - 18.7%
Laguna Beach - 92651 - 28 - $1,150,000 - minus 13.9%
Laguna Niguel - 92677 - 43 - $575,000 - minus 15.4%
Newport Beach - 92660 - 24 - $1,150,000 - 1.8%
Newport Beach - 92661- 3 - $1,187,000 - minus 30%
Newport Beach - 92663 - 12 - $1,131,000 - 15%
Newport Coast - 92657 - 17 - $629,000 - minus 12.7%
San Clemente - 92672 - 33 - $785,000 - 9.8%
San Clemente - 92673 - 34 - $663,000 - minus 12.3%
*DQNews/LATimes, 11/01/2010
------------------------------------------------------------------------
ZIP Codes: 92662, 92625, 92626, 92627, 92624, 92629, 92651, 92677, 92657, 92657, 92660, 92661, 92662, 92663, 92672, 92673
Approximate Location Boundaries: Coastal Communities of South Orange County
Location Characteristics: Specializing in the South Orange County California Coastal Cities known as the "California Riviera." The cities are Balboa Island, Corona Del Mar, Costa Mesa, Dana Point, Laguna Beach, Newport Beach, Newport Coast and San Clemente. From "Castles to Cottages" there is a home here for everyone. Pamela Horton and Amanda Horton look forward to helping you with your real estate needs in this picturesque area!
Southland home sales dropped for the third month in a row amid renewed doubts about a market that is recovering in fits and starts. The median price moved up on a year-over-year basis for the tenth month in a row and has regained about one-fifth of its peak loss. ,
BUYERS: I've said this before and I'm still saying it; this is your market take advantage of the low prices and great deals to be had. Don't wait too long as foreclosures and short sales are lessening or you may be caught saying, "I should have bought in 2010." I hope not!
SELLERS: Please listen to your real estate professional with whom you have placed your trust and confidence to sell a very valued possession...your property. If a price reduction is suggested it is warranted. Amount of showings and lack of offers are signs that a price is too high. When you do receive an offer your agent should negotiate the best price possible and you should accept it. Then you will be ready to move on to the next stage of your life!
*DQNews - Pamela Horton 11/01/10
-----------------------------------------------------------------
COASTAL AREA SALES DATA AND DISTRESS SALES STATISTICS OF 2010 FROM 01/01/10 FOR:
Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente
Active Listings = 2494, w/Bank Conditions = 483
In Escrow Listings = 823, w/Bank Conditions = 468
Sold from 01/01/10 = 3558, w/Bank Conditions = 1165
*SOCALMLS 11/01/10
-----------------------------------------------------------------
COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR SEPTEMBER 2009 COMPARED TO SEPTEMBER 2010:
City - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 3 - $4,000,000 - n/a
Capo Beach - 92624 - 6- $983,000 - 58.7%
Cororna del Mar - 92625 - 11 - $1,500,000 - 8%
Costa Mesa - 92626 - 29 - $499,000 - minus 11.8%
Costa Mesa - 92627 - 24 - $575,000 - 25.7%
Dana Point - 92629 - 14 - $820,000 - 18.7%
Laguna Beach - 92651 - 28 - $1,150,000 - minus 13.9%
Laguna Niguel - 92677 - 43 - $575,000 - minus 15.4%
Newport Beach - 92660 - 24 - $1,150,000 - 1.8%
Newport Beach - 92661- 3 - $1,187,000 - minus 30%
Newport Beach - 92663 - 12 - $1,131,000 - 15%
Newport Coast - 92657 - 17 - $629,000 - minus 12.7%
San Clemente - 92672 - 33 - $785,000 - 9.8%
San Clemente - 92673 - 34 - $663,000 - minus 12.3%
*DQNews/LATimes, 11/01/2010
------------------------------------------------------------------------
ZIP Codes: 92662, 92625, 92626, 92627, 92624, 92629, 92651, 92677, 92657, 92657, 92660, 92661, 92662, 92663, 92672, 92673
Approximate Location Boundaries: Coastal Communities of South Orange County
Location Characteristics: Specializing in the South Orange County California Coastal Cities known as the "California Riviera." The cities are Balboa Island, Corona Del Mar, Costa Mesa, Dana Point, Laguna Beach, Newport Beach, Newport Coast and San Clemente. From "Castles to Cottages" there is a home here for everyone. Pamela Horton and Amanda Horton look forward to helping you with your real estate needs in this picturesque area!
Friday, October 1, 2010
OCTOBER 2010 SOUTH ORANGE COUNTY CA COASTAL REAL ESTATE
SOUTHERN CALIFORNIA HOME SALES DIP
Southland home sales saw their biggest year-over-year drop in more than two years last month as the market lost most of the boost from the federal home buyer tax credits.
SALE PRICES: The median sale price dipped for the second month in a row, the result of a shaky economic recovery, continued uncertainty about jobs, and the expiring tax breaks.
MARKET DISTRESS: Indicators continue to move in different directions. Foreclosure activity remains high by historical standards but is lower than peak levels reached over the last two years. Financing with multiple mortgages is low, down payment sizes are stable, and non-owner occupied buying is above-average
BUYERS BEWARE: Over the next couple of months it will be interesting to see how many home shoppers opt for the sure thing, a spectacularly low mortgage rate, and how many hold off in hopes prices fall significantly. The latter group will have to keep a close eye on rates. If they jump much it could wipe out the advantage of a modest price drop.
SELLERS STAY STRONG: Your property needs to stay on the market to sell; just keep your confidence that the right buyer will find your property to be "their new dream home!"
*DQNews - 9/27/10
-----------------------------------------------------------------
COASTAL AREA SALES DATA AND DISTRESS SALES STATISTICS OF 2010 FROM 01/01/10 FOR:
Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente
Active Listings = 2713, w/Bank Conditions = 503
In Escrow Listings = 839, w/Bank Conditions = 459
Sold from 01/01/10 = 3166, w/Bank Conditions = 1,042
*SOCALMLS 09/28/10
-----------------------------------------------------------------
COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR AUGUST 2009 COMPARED TO AUGUST 2010:
City - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 1 - $1,150,000 - n/a
Capo Beach - 92624 - 7- $485,000 - minus 6.5%
Corona del Mar - 92625 - 11 - $2,125,000 - 8.4%
Costa Mesa - 92626 - 15 - $533,000 - 0.9%
Costa Mesa - 92627 - 20 - $522,000 - minus 15.1%
Dana Point - 92629 - 21 - $850,000 - 13.9%
Laguna Beach - 92651 - 27 - $1,350,000 - 12.4%
Laguna Niguel - 92677 - 47 - $663,000 - minus 1.9%
Newport Beach - 92660 - 20 - $1,288,000 - minus 49.1%
Newport Beach - 92661- 3 - $2,189,000 - n/a
Newport Beach - 92663 - 11 - $1,600,000 - 41.6%
Newport Coast - 92657 - 15 - $1,705,000 - 4.1%
San Clemente - 92672 - 15 - $576,000 - minus 2.0%
San Clemente - 92673 - 34 - $663,000 - minus 12.3%
*DQNews/LATimes, 09/27/2010
------------------------------------------------------------------------
ZIP Codes: 92662, 92625, 92626, 92627, 92624, 92629, 92651, 92677, 92657, 92657, 92660, 92661, 92662, 92663, 92672, 92673
Approximate Location Boundaries: Coastal Communities of South Orange County
Location Characteristics: Specializing in the South Orange County California Coastal Cities known as the "California Riviera." The cities are Balboa Island, Corona Del Mar, Costa Mesa, Dana Point, Laguna Beach, Newport Beach, Newport Coast and San Clemente. From "Castles to Cottages" there is a home here for everyone. Pamela Horton and Amanda Horton look forward to helping you with your real estate needs in this picturesque area!
Questions: Contact Pamela@PamelaHorton.com
Southland home sales saw their biggest year-over-year drop in more than two years last month as the market lost most of the boost from the federal home buyer tax credits.
SALE PRICES: The median sale price dipped for the second month in a row, the result of a shaky economic recovery, continued uncertainty about jobs, and the expiring tax breaks.
MARKET DISTRESS: Indicators continue to move in different directions. Foreclosure activity remains high by historical standards but is lower than peak levels reached over the last two years. Financing with multiple mortgages is low, down payment sizes are stable, and non-owner occupied buying is above-average
BUYERS BEWARE: Over the next couple of months it will be interesting to see how many home shoppers opt for the sure thing, a spectacularly low mortgage rate, and how many hold off in hopes prices fall significantly. The latter group will have to keep a close eye on rates. If they jump much it could wipe out the advantage of a modest price drop.
SELLERS STAY STRONG: Your property needs to stay on the market to sell; just keep your confidence that the right buyer will find your property to be "their new dream home!"
*DQNews - 9/27/10
-----------------------------------------------------------------
COASTAL AREA SALES DATA AND DISTRESS SALES STATISTICS OF 2010 FROM 01/01/10 FOR:
Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente
Active Listings = 2713, w/Bank Conditions = 503
In Escrow Listings = 839, w/Bank Conditions = 459
Sold from 01/01/10 = 3166, w/Bank Conditions = 1,042
*SOCALMLS 09/28/10
-----------------------------------------------------------------
COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR AUGUST 2009 COMPARED TO AUGUST 2010:
City - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 1 - $1,150,000 - n/a
Capo Beach - 92624 - 7- $485,000 - minus 6.5%
Corona del Mar - 92625 - 11 - $2,125,000 - 8.4%
Costa Mesa - 92626 - 15 - $533,000 - 0.9%
Costa Mesa - 92627 - 20 - $522,000 - minus 15.1%
Dana Point - 92629 - 21 - $850,000 - 13.9%
Laguna Beach - 92651 - 27 - $1,350,000 - 12.4%
Laguna Niguel - 92677 - 47 - $663,000 - minus 1.9%
Newport Beach - 92660 - 20 - $1,288,000 - minus 49.1%
Newport Beach - 92661- 3 - $2,189,000 - n/a
Newport Beach - 92663 - 11 - $1,600,000 - 41.6%
Newport Coast - 92657 - 15 - $1,705,000 - 4.1%
San Clemente - 92672 - 15 - $576,000 - minus 2.0%
San Clemente - 92673 - 34 - $663,000 - minus 12.3%
*DQNews/LATimes, 09/27/2010
------------------------------------------------------------------------
ZIP Codes: 92662, 92625, 92626, 92627, 92624, 92629, 92651, 92677, 92657, 92657, 92660, 92661, 92662, 92663, 92672, 92673
Approximate Location Boundaries: Coastal Communities of South Orange County
Location Characteristics: Specializing in the South Orange County California Coastal Cities known as the "California Riviera." The cities are Balboa Island, Corona Del Mar, Costa Mesa, Dana Point, Laguna Beach, Newport Beach, Newport Coast and San Clemente. From "Castles to Cottages" there is a home here for everyone. Pamela Horton and Amanda Horton look forward to helping you with your real estate needs in this picturesque area!
Questions: Contact Pamela@PamelaHorton.com
Monday, August 30, 2010
SEPTEMBER 2010 COASTAL ORANGE COUNTY CALIFORNIA REAL ESTATE NEWS
SOUTHERN CALIFORNIA HOME SALES DIP
Southland home sales saw their biggest year-over-year drop in more than two years last month as the market lost most of the boost from the federal home buyer tax credits. The median sale price dipped for the second month in a row, the result of a shaky economic recovery, continued uncertainty about jobs, and the expiring tax breaks.
LAGUNA BEACH MARKET: In August 2010 there were 28 closed sales with inventory of 404 properties which is higher than sales for July 2010 with 20 closed sales and inventory of 399 homes. Sales picking up is a very good sign. But with rising inventory competition is even greater than it has been in a long time. Sellers need to price realistically; listen to their chosen real estate professional as to list price and not your "wish" price!
SELLERS: It is expected some "sideways" buying and selling will kick in, especially among homeowners who have owned for more than seven years and didn't take out equity during the frenzy. You may have to "discount" your self-perceived home value, but if the person you're buying from has to do the same thing, it doesn't matter. And you may get a spectacularly low mortgage rate.
BUYERS: The "flipping" of homes has trended higher over the past year. Last month the percentage of Southland homes flipped - bought and re-sold - within a six-month period was 3.7% while in June it was 3.4% and a year ago it was 2%. Last month flipping varied from as little as 2.8 percent in Orange County to as much as 4.4 percent in Los Angeles County.
CASH BUYERS: Accounted for 26.7% of July sales.
*PH - 9/01/10
------------------------------------------------------
COASTAL AREA SALES DATA AND DISTRESS SALES STATISTICS OF 2010 FROM 01/01/10 FOR:
Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente
Active Listings = 2806, w/Bank Conditions = 505
In Escrow Listings = 832, w/Bank Conditions = 466
Sold from 01/01/10 = 2837, w/Bank Conditions = 947
*SOCALMLS 09/01/10
-------------------------------------------------------
COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR JUNE 2009 COMPARED TO JUNE 2010:
City - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 3 - $2,300,000 - 37.3%
Capo Beach - 92624 - 4 - $833,000 - 5.7%
Cororna del Mar - 92625 - 15 - $1,575,000 - minus 8.7%
Costa Mesa - 92626 - 25- $530,000 - 0.9%
Costa Mesa - 92627 - 19 - $500,000 - minus 10.1%
Dana Point - 92629 - 15 - $755,000 - minus 1%
Laguna Beach - 92651 - 24 - $1,375,000 - 17%
Laguna Niguel - 92677 - 40 - $617,000 - 0.3%
Newport Beach - 92660 - 30 - $1,558,000 - 21.3%
Newport Beach - 92661- 3 - $1,465,000 - n/a
Newport Beach - 92663 - 15 - $1,213,000 - minus 26.8%
Newport Coast - 92657 - 15 - $1,640,000 - minus 17%
San Clemente - 92672 - 16 - $648,000 - minus 3.6%
San Clemente - 92673 - 34 - $818,000 - 6.6%
*DQNews/LATimes, 09/01/2010
-------------------------------------------------------
ZIP Codes: 92662, 92625, 92626, 92627, 92624, 92629, 92651, 92677, 92657, 92657, 92660, 92661, 92662, 92663, 92672, 92673
Approximate Location Boundaries: Coastal Communities of South Orange County
Location Characteristics: Specializing in the South Orange County California Coastal Cities known as the "California Riviera." The cities are Balboa Island, Corona Del Mar, Costa Mesa, Dana Point, Laguna Beach, Newport Beach, Newport Coast and San Clemente. From "Castles to Cottages" there is a home here for everyone. Pamela Horton and Amanda Horton look forward to helping you with your real estate needs in this picturesque area!
Southland home sales saw their biggest year-over-year drop in more than two years last month as the market lost most of the boost from the federal home buyer tax credits. The median sale price dipped for the second month in a row, the result of a shaky economic recovery, continued uncertainty about jobs, and the expiring tax breaks.
LAGUNA BEACH MARKET: In August 2010 there were 28 closed sales with inventory of 404 properties which is higher than sales for July 2010 with 20 closed sales and inventory of 399 homes. Sales picking up is a very good sign. But with rising inventory competition is even greater than it has been in a long time. Sellers need to price realistically; listen to their chosen real estate professional as to list price and not your "wish" price!
SELLERS: It is expected some "sideways" buying and selling will kick in, especially among homeowners who have owned for more than seven years and didn't take out equity during the frenzy. You may have to "discount" your self-perceived home value, but if the person you're buying from has to do the same thing, it doesn't matter. And you may get a spectacularly low mortgage rate.
BUYERS: The "flipping" of homes has trended higher over the past year. Last month the percentage of Southland homes flipped - bought and re-sold - within a six-month period was 3.7% while in June it was 3.4% and a year ago it was 2%. Last month flipping varied from as little as 2.8 percent in Orange County to as much as 4.4 percent in Los Angeles County.
CASH BUYERS: Accounted for 26.7% of July sales.
*PH - 9/01/10
------------------------------------------------------
COASTAL AREA SALES DATA AND DISTRESS SALES STATISTICS OF 2010 FROM 01/01/10 FOR:
Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente
Active Listings = 2806, w/Bank Conditions = 505
In Escrow Listings = 832, w/Bank Conditions = 466
Sold from 01/01/10 = 2837, w/Bank Conditions = 947
*SOCALMLS 09/01/10
-------------------------------------------------------
COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR JUNE 2009 COMPARED TO JUNE 2010:
City - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 3 - $2,300,000 - 37.3%
Capo Beach - 92624 - 4 - $833,000 - 5.7%
Cororna del Mar - 92625 - 15 - $1,575,000 - minus 8.7%
Costa Mesa - 92626 - 25- $530,000 - 0.9%
Costa Mesa - 92627 - 19 - $500,000 - minus 10.1%
Dana Point - 92629 - 15 - $755,000 - minus 1%
Laguna Beach - 92651 - 24 - $1,375,000 - 17%
Laguna Niguel - 92677 - 40 - $617,000 - 0.3%
Newport Beach - 92660 - 30 - $1,558,000 - 21.3%
Newport Beach - 92661- 3 - $1,465,000 - n/a
Newport Beach - 92663 - 15 - $1,213,000 - minus 26.8%
Newport Coast - 92657 - 15 - $1,640,000 - minus 17%
San Clemente - 92672 - 16 - $648,000 - minus 3.6%
San Clemente - 92673 - 34 - $818,000 - 6.6%
*DQNews/LATimes, 09/01/2010
-------------------------------------------------------
ZIP Codes: 92662, 92625, 92626, 92627, 92624, 92629, 92651, 92677, 92657, 92657, 92660, 92661, 92662, 92663, 92672, 92673
Approximate Location Boundaries: Coastal Communities of South Orange County
Location Characteristics: Specializing in the South Orange County California Coastal Cities known as the "California Riviera." The cities are Balboa Island, Corona Del Mar, Costa Mesa, Dana Point, Laguna Beach, Newport Beach, Newport Coast and San Clemente. From "Castles to Cottages" there is a home here for everyone. Pamela Horton and Amanda Horton look forward to helping you with your real estate needs in this picturesque area!
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