Pamela Horton's South Orange County California Real Estate Update

NOVEMBER 2009 SOUTH ORANGE COUNTY CA COASTAL REAL ESTATE NEWS

2009-10-31T13:51:00.000-07:00

HOME SALES UP, PRICES REMAIN LOW

THE ECONOMY: Has expanded at an annual rate of 3.5% in the third quarter marking the end of the worst recession since World War II.

THE MARKET: Home sales have risen 2.1% in September in California compared with the same period a year ago, while the median price of an existing home declined 7.3%. Even though the current growth forecasts for the next 5-6 years are for a robust economy, it is not expected to see rapidly rising home prices but slow upward movement in prices as sales increase and inventory declines.

For local market statistics the price decreases for September 2007 are lessening. See the "Median Sales By Zip Code" at the end of this article. For the first time some cities are showing increases in sale price compared to the same period last year.

BUYERS: Important News For Buyers - The Federal First-Time Buyer's Tax Credit for up to $8,000 has been extended. Repeat buyers who have owned their homes for at least 5 years are offered a reduced credit of up to $6,500.

SELLERS: Foreclosures no longer constitute most sales, they do however continue to define the market because all sellers need to compete with those low-priced properties. 40% of Southern California homes sold were foreclosures down from a previous high of 57% in February.

INTEREST RATES: Are at their lowest in years as a result of the Federal Reserve campaign to keep credit flowing.*CAR, 10/28/09, LATImes 10/30/09

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COASTAL AREA SALES DATA AND DISTRESS SALES STATISTICS OF 2009 FROM 01/01/09 FOR: Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente

Active Listings = 2,342, w/Bank Conditions = 373
In Escrow Listings = 981, w/Bank Conditions = 555
Sold from 01/01/09 = 3123, w/Bank Conditions = 1025

*MLS 10/28/2009

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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR SEPTEMBER 2008 COMPARED TO SEPTEMBER 2009:

City - # Sold - Median Sale Price - % change from 2008:
Balboa Island - 92662 - 3 - $2,754,000 - 67%
Capo Beach - 92624 - 3 - $619,000 - minus 54.0%
Corona del Mar - 92625 - 13- $1,972,000 - 27%
Costa Mesa - 92626 - 25- $565,000 - 1%
Costa Mesa - 92627 - 36 - $458,000 - minus 6%
Dana Point - 92629 - 20 - $691,000 - minus 3.8%
Laguna Beach - 92651 - 29 - $1,355,000 - minus 3%
Laguna Niguel - 92677 - 54 - $680,000 - 5%
Newport Beach - 92660 - 27 - $1,130,000 - minus 31%
Newport Beach - 92661- 8 - $1,695,000 - minus 81%
Newport Beach - 92663 - 15 - $1,285,000 - minus 1%
Newport Coast - 92657 - 14 - $1,800,000 - minus 46%
San Clemente - 92672 - 27 - $720,000 - minus 8%
San Clemente - 92673 - 34 - $715,000 - minus 11%

Percentage change is compared to the same month of the prior year.
*DQNews/LATimes, 10/25/09

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 her partner Amanda Horton look forward to helping you with your real estate needs in this picturesque area!

OCTOBER 2009 SOUTH ORANGE COUNTY CA COASTAL REAL ESTATE NEWS

2009-09-28T16:23:00.000-07:00

AUGUST HOME SALES INCREASED

THE MARKET: While homes sales increased the medium home price declined by 6.9%. This may seem like bad news, it is not. As with any recovering market first sales must increase for inventory to decrease. When there is a demand for inventory (less inventory) then prices will begin to increase. For example, In 1997 the home sales began to increase over the decline of the 90's with sales prices increasing steadily through July 2007.

BUYERS: First-time buyers continue to be the driving force in home sales throughout the state," said C.A.R. President James Liptak. "The federal tax credit, which has helped more than 1.4 million people become first-time homeowners nationally, is set to expire Nov. 30. It is expected that the tax credit, which is a proven economic stimulus that clearly is working, should be extended through 2010 and expanded to include all home buyers."

SALES: "Sales have exceeded 500,000 homes for 12 consecutive months, and now are 38% higher on a year-to-date basis compared with 2008," said Appleton-Young. "Sales continue to be boosted by the large number of distressed properties on the market, along with favorable interest rates."

*CAR, 9/28/09

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COASTAL AREA SALES DATA AND DISTRESS SALES STATISTICS OF 2009 FROM 01/01/09 FOR:

Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente

Active Listings = 2,435, w/Bank Conditions = 374
In Escrow Listings = 921, w/Bank Conditions = 511
Sold from 01/01/09 = 2,751, w/Bank Conditions = 911

*MLS 09/28/2009

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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR JULY 2008 COMPARED TO JULY 2009:

City - # Sold - Median Sale Price - % change from 2008:
Balboa Island - 92662 - 0 - N/A - N/A - N/A
Capo Beach - 92624 - 3 - $530,000 - minus 15.9%
Corona del Mar - 92625 - 12- $1,843,000 - minus 10.0%
Costa Mesa - 92626 - 30- $495,000 - minus 10%
Costa Mesa - 92627 - 30 - $595,000 - 17.2%
Dana Point - 92629 - 12 - $745,000 - minus 3.8%
Laguna Beach - 92651 - 26 - $1,145,000 - minus 33.8%
Laguna Niguel - 92677 - 45 - $695,000 - 8.2%
Newport Beach - 92660 - 21 - $1,253,000 - minus 20.1%
Newport Beach - 92661- 2 - $4,300,000 - 106.2%
Newport Beach - 92663 - 12 - $1,130,000 - minus 51.1%
Newport Coast - 92657 - 14 - $1,575,000 - minus 7.9%
San Clemente - 92672 - 30 - $595,000 - minus 36.5%
San Clemente - 92673 - 28 - $740,000 - minus 10.2%

Percentage change is compared to the same month of the prior year.

*DQNews/LATimes, 09/28/09

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!

SEPTEMBER 2009 SOUTH ORANGE COUNTY CA COASTAL REAL ESTATE NEWS

2009-08-31T16:48:00.000-07:00

JULY 2009 SALES UP OVER JULY 2008 BY 12%THE MARKET:

Home sales are up compared to the same period a year ago. Whereas, the median price of an existing home declined 19.6%. "The federal tax credit for first-time buyers played a critical role in the purchase decision of many buyers," said C.A.R. President James Liptak. "Nearly 40 percent of first-time buyers said they would not have purchased a home if the tax credit was not offered."

LOAN INFO: Buyers are you thinking that your lender is asking for a lot of information? You are right. Here are the many items that lenders look at these days, even for A++ buyers...Loan size, Loan to Value, Combined Loan to Value, Credit Score, Credit History, Points paid/received, Loan/Program Type, Property Type, Occupancy Type, Residency/Citizenship, Available Assets, Seasoning of Assets, Co-Borrower(s), Debt Ratio, Housing Ratio, Employment Type, Employment History, Documentation Type, Gift Funds, Cash Out, How much Cash Out, Improvements Needed, Length of the Lock.

SELLERS: Please be patient and understanding as your buyers go through what is a very arduous process to obtain a loan.

*C.A.R./Sandstone Financial 8/31/09

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COASTAL AREA SALES DATA AND DISTRESS SALES STATISTICS OF 2009 FROM 01/01/09 FOR: Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente

Active Listings = 2,529, w/Bank Conditions = 374
In Escrow Listings = 934, w/Bank Conditions = 493
Sold from 01/01/09 = 2,371, w/Bank Conditions = 807

*MLS 08/31/2009

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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR JUNE 2008 COMPARED TO JUNE 2009:

City - # Sold - Median Sale Price - % change from 2008:

Balboa Island - 92662 - 2 - $1,675,000 - minus 77.2%
Capo Beach - 92624 - 6 - $788,000 - 38.8%
Corona del Mar - 92625 - 12- $1,800,000 - 11.8%
Costa Mesa - 92626 - 27- $526,000 - minus 3.6%
Costa Mesa - 92627 - 29 - $556,000 - minus 0.5%
Dana Point - 92629 - 17 - $783,000 - minus 13.2%
Laguna Beach - 92651 - 30 - $1,175,000 - minus 41.3%
Laguna Niguel - 92677 - 56 - $640,000 - minus 11.2%
Newport Beach - 92660 - 29 - $1,308,000 - 3%
Newport Beach - 92661- N/A - Na/A - N/A
Newport Beach - 92663 - 16 - $1,656,000 - minus 1.1%
Newport Coast - 92657 - 11 - $1,800,000 - minus 28.7%
San Clemente - 92672 - 23 - $672,000 - minus 20.0%
San Clemente - 92673 - 40 - $768,000 - minus 7.0%

*Percentage change is compared to the same month of the prior year. DQNews/LATimes, 08/31/09

ZIP Codes: 92662, 92625.92626, 92627, 92624, 92629, 92651, 92677, 92657, 92657, 92660, 92661, 92662, 92663, 92672, 92673Approximate 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 her partner Amanda Horton look forward to helping you with your real estate needs in this picturesque area!

AUGUST 2009 SOUTH ORANGE COUNTY CA COASTAL REAL ESTATE NEWS

2009-07-29T20:02:00.000-07:00

WHAT'S AHEAD?

THE MARKET: The pace of descent in home price values appears to be slowing due to four consecutive months of improved rates of return, after the steep decline that began in the fall of 2005.While many indicators are showing signs of life in the housing market, we should remember that on a year-over-year basis home prices are still down about 17% on average, so we likely do have a way to go before we see sustained home price appreciation.

FOR THE BUYER:
1. 71% fewer mortgages are available than a year ago.
2. Tight credit standards are in place at 85% of our banks.
3. Buyers with less than 20% need a FICO score of 720.
4. All assets and income will be re-verified at closing.
5. Conforming residential loan amount for OC is $625,500.
6. 2.9% of buyers get an adjustable rate mortgage vs.85% in 2005.

FOR THE SELLER:
1. Foreclosures and short-sales will continue to dominate.
2. Orange County filed 8,427 notices of default in the 1st quarter of 2009. This is up 19% from the 1st quarter of 2008.
3. Listing prices must be competitive for a successful sale.
4. Regardless of sellers' expectations, their house will be appraised conservatively.5. The buyers are still in control of pricing:

FOR THE INVESTOR:
1. If investor puts down less than 20%, it introduces: PMI; higher rates; added approval by insurance companies.
2. Loan rates are usually 0.75% to 1.0% higher than owner-occupied financing.
3. Investor loans are more difficult to get because 40% of foreclosures are investment properties.
4. Investors have to be prepared for rent reductions on their properties.

*CAR, Watts Report 7/29/09

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COASTAL AREA SALES DATA AND DISTRESS SALES STATISTICS OF 2009 FROM 01/01/09 FOR:
Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente

Active Listings = 2,633, w/Bank Conditions = 400
In Escrow Listings = 835, w/Bank Conditions = 437
Sold from 01/01/09 = 1,971, w/Bank Conditions = 693

*MLS 07/29/2009

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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR JUNE 2008 COMPARED TO JUNE 2009:

City - # Sold - Median Sale Price - % change from 2008:
Balboa Island - 92662 - N/A - N/A - N/A
Capo Beach - 92624 - 3 - $575,000 - minus 21.8%
Corona del Mar - 92625 - 12- $1,180,000 - minus 39.6%
Costa Mesa - 92626 - 32- $500,000 - minus 12.7%
Costa Mesa - 92627 - 33 - $505,000 - minus 8.2%
Dana Point - 92629 - 36 - $785,000 - minus 4.3%
Laguna Beach - 92651 - 32 - $1,265,000 - minus 20.9%
Laguna Niguel - 92677 - 49 - $660,000 - minus 10.8%
Newport Beach - 92660 - 18 - $830,000 - minus 29.8%
Newport Beach - 92661- 1 - $710,000 - minus 71.3%
Newport Beach - 92663 - 6 - $1,775,000 - minus 6.6%
Newport Coast - 92657 - 11 - $1,900,000 - miunus 46.9%
San Clemente - 92672 - 25 - $646,000 - minus 22.9%
San Clemente - 92673 - 39 - $765,000 - minus 17.1%

Percentage change is compared to the same month of the prior year. *DQNews/LATimes, 07/29/09ZIP Codes: 92662, 92625.92626, 92627, 92624, 92629, 92651, 92677, 92657, 92657, 92660, 92661, 92662, 92663, 92672,

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JULY 2009 SOUTH ORANGE COUNTY CA COASTAL REAL ESTATE NEWS

2009-06-29T14:05:00.000-07:00

ON THE HORIZON...SOME GOOD REAL ESTATE NEWS

SALES INFORMATION: In the sales comparables at the end of this article for May 2008 compared to May 2009, for some cities there is a noticeably smaller negative percent of sale prices. This would indicate that sellers are being more realistic in their pricing and acceptance of a sale price at today's market value and not for what they "hope to sell the house for!"

APPRAISAL PROBLEMS: Short sales and foreclosures although still quite strong, are not increasing as rapidly as they were. The primary problem NOW with the distress sale prices is that these sales affect every home's value when it comes to appraisal purposes. In some areas, and most areas in general, appraisal values are lower due to comparable sales of low priced foreclosure and short sale properties. Appraisers often compare as "like for like" a home in good condition to a property that was in very poor condition if the square footage, beds and baths are similar.

The Federal government has mandated that lenders and real estate brokers cannot talk to appraisers directly. In the past, an appraiser could discuss with the listing agent the benefits of one home compared to another. Today that is not allowed and appraisals are coming in with a low price.

LISTING PRICES: It is more important than ever for a seller to accept a reasonable sale price, as there is a chance the appraisal will not confirm the sale price.

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COASTAL AREA SALES DATA AND DISTRESS SALES STATISTICS OF 2009 FROM 01/01/09 FOR:

Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente

Active Listings = 2,689, w/Bank Conditions = 415

In Escrow Listings = 829, w/Bank Conditions = 418

Sold from 01/01/09 = 1600, w/Bank Conditions = 590

*MLS 06/29/2009

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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR MAY 2008 COMPARED TO MAY 2009:

City - # Sold - Median Sale Price - % change from 2008:
Balboa Island - 92662 - N/A - N/A - N/A
Capo Beach - 92624 - 12 - $530,000 - N/A
Corona del Mar - 92625 - 4- $2,061,000 - minus 10.6%
Costa Mesa - 92626 - 24- $540,000 - minus 0.5%
Costa Mesa - 92627 - 26 - $550,000 - minus 0.7%
Dana Point - 92629 - 20 - $687,000 - minus 33.9%
Laguna Beach - 92651 - 24 - $1,810,000 - minus 32.9%
Laguna Niguel - 92677 - 42 - $668,000 - minus 10.4%
Newport Beach - 92660 - 19 - $1,203,000 - minus 28.1%
Newport Beach - 92661- 4 - $1,375,000 - minus 22.0%
Newport Beach - 92663 - 3 - $1,160,000 - n/a
Newport Coast - 92657 - 6 - $1,734,000 - 2.4%
San Clemente - 92672 - 22 - $580,000 - minus 31.8%
San Clemente - 92673 - 20 - $691,000 - minus 14.7%

Percentage change is compared to the same month of the prior year.
*DQNews/LATimes, 06/29/09

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 her partner Amanda Horton look forward to helping you with your real estate needs in this picturesque area!

JUNE 2009 SOUTH ORANGE COUNTY CA COASTAL REAL ESTATE

2009-06-03T10:45:00.000-07:00

SOUTHLAND HOME SALES HOT INLAND, COOL ON COAST

Among the reasons high-end sales remain so sluggish: The "jumbo" mortgages needed to buy such homes have been more expensive and much harder to obtain since August 2007, when the credit crunch hit. Before then, nearly 40% of Southland sales were financed with jumbo loans, then defined as over $417,000.
Last month 10.9% of sales were financed with jumbo loans. The current jumbo loans limits in Orange County are $729,750. The Federal guidelines increase the loan jumbo amount for higher end area.

HOPE FOR DEFAULT BORROWERS: The Obama administration approved new details under its Foreclosure Alternatives Program (FAP) enabling homeowners in default to pursue short sales in cases where the homeowner does not qualify for a loan modification. The program, effective through 2012, requires that prior to proceeding with a foreclosure, lenders must determine if a short sale is appropriate.

FORECLOSURES: Foreclosure resales - homes sold in April that had been foreclosed on in the prior 12 months - accounted for 53.6% of all Southland resales last month. In the South County Coastal Area these sales these sales make up for 36% of sales last month.

WHAT ELSE: Financing with adjustable-rate mortgages is near the all-time low, as is financing with multiple mortgages. Down payment sizes are larger and loan rates are stable. Non-owner occupied buying has risen and is above-average in lower end markets.

*05/26/09 CAR

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COASTAL AREA SALES DATA AND DISTRESS SALES STATISTICS OF 2009 FROM 01/01/09

FOR: Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente

Active Listings = 2,716, w/Bank Conditions = 421
In Escrow Listings = 794, w/Bank Conditions = 388
Sold from 01/01/09 = 1183, w/Bank Conditions = 468

*MLS 05/26/09
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR APRIL 2008 COMPARED TO APRIL 2009:

City - # Sold - Median Sale Price - % change from 2008:
Balboa Island - 92662 - 5 - $2,200,000 - minus 60.0%
Capo Beach - 92624 - 3 - $1,050,000 - 72.1%
Corona del Mar - 92625 - 4- $2,061,000 - minus 10.6%
Costa Mesa - 92626 - 26- $505,000 - minus 8.2%
Costa Mesa - 92627 - 23 - $488,000 - minus 26.6%
Dana Point - 92629 - 20 - $687,000 - minus 33.9%
Laguna Beach - 92651 - 19 - $1,160,000 - minus 31.2%
Laguna Niguel - 92677 - 30 - $650,000 - minus 13.5%
Newport Beach - 92660 - 18 - $1,054,000 - minus 28.1%
Newport Beach - 92661- 2 - $1,036,000 - minus 78.9%
Newport Beach - 92663 - 6 - $1,075,000 - minus 14%
Newport Coast - 92657 - 7 - $1,799,000 - minus 47.5%
San Clemente - 92672 - 21 - $685,000 - minus 12.2%
San Clemente - 92673 - 27 - $675,000 - minus 16.6%

Percentage change is compared to the same month of the prior year.
*DQNews/LATimes, 05/26/09

MAY 2009 SOUTH ORANGE COUNTY CA COASTAL REAL ESTATE

2009-04-27T16:35:00.000-07:00

"AN OPTIMIST WILL TELL YOU THE GLASS IS HALF FULL; THE PESSIMIST, HALF EMPTY; AND THE ANALYST WILL TELL YOU THE GLASS IS TWICE THE SIZE IT NEEDS TO BE." Anonymous

Indeed - Last week certainly contained news that could cause you to view the economy in an optimistic or pessimistic light.

HOUSING: Existing Home Sales came in slightly below market estimates - and while the report showed that Existing Home inventory in March fell by a modest 1.6%, at the current sales pace it would take an estimated 9.8 months to sell that inventory of properties, slightly longer than February's 9.7 month reading.

NEW HOME SALES: Builder confidence in the market for newly built, single-family homes rose five points in April to the highest level since October 2008. It was the largest one-month increase recorded since May of 2003.

FORECLOSURE FILINGS: Increased 9% in the first quarter of 2009. default notices, auction sale notices and bank repossessions. One in every 159 U.S. housing units received a foreclosure filing during this quarter a 46% increase compared with March 2008.

WHAT'S NEXT: The path back to economic recovery will go through housing, so these reports will be important to watch in the months ahead.

*04/27/09 Sandstone Financial, CAR

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COASTAL AREA SALES DATA AND DISTRESS SALES STATISTICS OF 2009 FROM 01/01/09 FOR:
Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente

Active Listings = 2,768, w/Bank Conditions = 424
In Escrow Listings = 715, w/Bank Conditions = 367
Sold from 01/01/09 = 861, w/Bank Conditions = 354

*In Escrow Status Up 256 Units over April. SOCALMLS 04/30/09

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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR MARCH 2008 COMPARED TO MARCH 2009:

City - # Sold - Median Sale Price - % change from 2008:
Balboa Island - 92662 - 10 - $1,700,000 - minus 44.5%
Capo Beach - 92624 - 9 - $482,000 - minus 84%
Corona del Mar - 92625 - 5- $2,905,000 - 33%
Costa Mesa - 92626 - 29- $498,000 - minus 6.3%
Costa Mesa - 92627 - 23 - $420,000 - minus 32.8%
Dana Point - 92629 - 10 - $575,000 - minus 24.9%
Laguna Beach - 92651 - 14 - $1,143,000 - minus 30.8%
Laguna Niguel - 92677 - 36 - $711,000 - minus 24%
Newport Beach - 92660 - 11 - $850,000 - minus 29%
Newport Beach - 92661- 3 - $1,327,000 - minus 16%
Newport Beach - 92663 - 6 - $1,520,000 - minus 60%
Newport Coast - 92657 - 5 - $2,784,000 - minus 18.3%
San Clemente - 92672 - 16 - $631,000 - minus 23.5%
San Clemente - 92673 - 18 - $750,000 - minus 5.9%

**Percentage change is compared to the same month of the prior year.
*DQNews/LATimes, 04/30/09

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 her partner Amanda Horton look forward to helping you with your real estate needs in this picturesque area!
949.633.6667 - Pamela@PamelaHorton.com - www.PamelaHorton.com

APRIL 2009 SOUTH ORANGE COUNTY, CA COASTAL REAL ESTATE

2009-03-31T19:17:00.000-07:00

"IT REQUIRES A GREAT DEAL OF BOLDNESS AND A GREAT DEAL OF CAUTION TO MAKE A GREAT FORTUNE." Ralph Waldo Emerson

Last week's headlines contained a mix of items to inspire both boldness and caution.

And...there's room for cautious optimism on the economy, as good news was noted on several fronts last week. The housing market received good news when Existing Home Sales came in stronger than expected.

Sales of previously owned U.S. homes rose 5.1% in February, the largest gain since July 2003. About 45% of these sales were foreclosure or short-sale transactions. With the peak of the market having been April 2007, it is also noted that home prices are now at 2003 levels.

Additionally, Durable Goods Orders for February came in better than expected, showing the first increase in six months, and the Core Personal Consumption Expenditure Index (Core PCE) showed inflation is presently at tolerable levels. Plus, the US Dollar received a boost when China said it will continue to purchase US Treasuries.

*03/30/09 Sandstone Financial, Prospect Mortgage, CAR
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COASTAL AREA SALES DATA AND DISTRESS SALES STATISTICS OF 2009 FOR:

Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente

Active Listings = 2,758, w/Bank Conditions = 449
In Escrow Listings = 579, w/Bank Conditions = 234
Sold from 01/01/09 = 588, w/Bank Conditions = 249

*MLS 03/31/09
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR FEBRUARY 2008 COMPARED TO FEBRUARY 2009:

City - # Sold - Median Sale Price - % change from 2008:
Balboa Island - 92662 - 0 - N/A - N/A
Capo Beach - 92624 - 2 - $603,000 - minus 65%
Corona del Mar - 92625 - 7- $2,100,000 - minus 12%
Costa Mesa - 92626 - 13- $500,000 - minus 10%
Costa Mesa - 92627 - 20 - $600,000 - 5%
Dana Point - 92629 - 8 - $745,000 - minus 1%
Laguna Beach - 92651 - 5 - $1,275,000 - minus 41%
Laguna Niguel - 92677 - 33 - $673,000 - minus 14%
Newport Beach - 92660 - 10 - $850,000 - minus 39%
Newport Beach - 92661- 3 - $1,200,000 - minus 52%
Newport Beach - 92663 - 5 - $800,000 - minus 60%
Newport Coast - 92657 - 9 - $1,400,000 - minus 23%
San Clemente - 92672 - 15 - $725,000 - minus 60%
San Clemente - 92673 - 18 - $763,000 - minus 4%

**Percentage change is compared to the same month of the prior year.

*DQNews/LATimes, 03/31/09

MARCH 2009 SOUTH ORANGE COUNTY, CA COASTAL REAL ESTATE

2009-02-28T18:40:00.001-08:00

STATE HOME SALES DOUBLE AS PRICES FALL

Sales of existing, single-family homes soared 100.8% in January in California, and the median price declined 40.5%. Just look at the statistics for the area home sales below, as most areas have had minus increases for a least 2 years.

STATE TAX CREDIT: Beginning March 1, 2009, home buyers who purchase a new, unoccupied home could receive a $10,000 state tax credit. The credit is available to anyone who closes escrow by March 1, 2010 and agrees to occupy the home for at least two years.

THE ECONOMY: The Commerce Dept. on 2/27/09 reported that the economy shrank at a pace of 6.2% in the fourth quarter of 2008, the country's worst performance since 1982.

WHAT DOES THIS MEAN TO YOU?

SELLERS: Try not to let your desire to sell be clouded by what you paid or how much money you've put into your property. Price according to comparable sales in your area, and you should be on your way in a reasonable amount of time. If you want to start at a somewhat higher price that's ok, just be willing to reduce your list price, if necessary. Remember: Market Value is determined by the price you and the buyer agree upon. Your professional Realtor's evaluation is an estimate of future market value.

BUYERS: I have been advising this for quite a while now...this is your market! Take advantage of reduced prices. Don't insult a seller, be reasonable but expect to get a great deal. Investor buyers...this is your market, too!

*DataQuik & CAR, 02/28/09

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COASTAL AREA SALES DATA AND DISTRESS SALES STATISTICS OF 2009 FOR:
Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente

Active Listings = 2,693, w/Bank Conditions = 478
In Escrow Listings = 499, w/Bank Conditions = 276
Sold from 01/01/09 = 360, w/Bank Conditions = 160

*MLS 02/28/09

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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR JANUARY 2008 COMPARED TO JANUARY 2009:

City - # Sold - Median Sale Price - % change from 2008:
Balboa Island - 92662 - $2,285,000 - minus 33.3%
Capo Beach - 92624 - 3 - $899,000 - 24.6%
Corona del Mar - 92625 - 9- $2,125,000 - minus 28.0%
Costa Mesa - 92626 - 16- $543,000 - minus 8.8%
Costa Mesa - 92627 - 21 - $428,000 - minus 18.0%
Dana Point - 92629 - 8 - $727,000 - 10.7%
Laguna Beach - 92651 - 11 - $825,000 - minus 50.7%
Laguna Niguel - 92677 - 24 - $691,000 - minus 7.3%
Newport Beach - 92660 - 9 - $1,528,000 - minus 14.6%
Newport Beach - 92661- 1 - $7,500,000 - 341.2%
Newport Beach - 92663 - 2 - $1,813,000 - minus 11.6%
Newport Coast - 92657 - 9 - $1,865,000 - minus 35.2%
San Clemente - 92672 - 10 - $561,000 - minus 53.3%
San Clemente - 92673 - 16 - $649,000 - minus 31.3%

*DQNews/LATimes, 02/28/09
**% change is compared to the same month of the prior year.

FEBRUARY 2009 SOUTH ORANGE COUNTY CA COASTAL REAL ESTATE

2009-01-31T13:08:00.000-08:00

SOUTHLAND HOME SALES PICKING UP WITH A CHANGE SEEN IN THE COASTAL REAL ESTATE MARKET

CORE TREND: The core trends of Southern California's 2008 housing market were on prominent display in December: Low-cost inland foreclosures sold briskly, builders had their worst month in decades, expensive markets remained in wait-and-see mode and lenders continued to hold back on making 'jumbo' home loans.

HOME SALES: Outpaced last year for the fifth consecutive month in November, when 55% of buyers in the resale market chose repossessed homes. The abundance of discounted foreclosures helped push the median sale price down a record 35% from a year ago.

LENDERS: The most active lenders to Southland home buyers right now are Countrywide, Bank of America and Wells Fargo.

FICO SCORES: So this is how FICO scores are weighted by lendrs for loan qualification purposes...
35% by Payment History
30% by Balances Owed
15% by Length of Credit History
10% by New Credit
10% by Types of Credit in Use

How calculated FICO scores effect loan rates:
720 - 850 Excellent, A-paper credit, the "good-guy" rates available;
680 - 719 Good, not much of a compromise on rates;
620 - 679 OK or Fair, clearly in range for FHA consideration;
580 - 619 Low, bottom of the range for FHA consideration, "alternate credit" comes heavily into play;
500 - 579 Poor, truly nothing can be done without credit rehabilitation.

*DataQuik 01/27/09, NLB Financial 01/27/09
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COASTAL AREA SALES DATA AND DISTRESS SALES STATISTICS AS OF 01/31/09 FOR:
Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente

Active Listings = 2,185, w/Bank Conditions = 477
In Escrow Listings = 385, w/Bank Conditions = 235
Sold from 01/01/08 = 3,061, w/Bank Conditions = 1,172

*MLS 01/31/09

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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR DECEMBER 2007 COMPARED TO DECEMBER 2008:
% Change is from the same month last year.

City - # Sold - Median Sale Price - % change from 2007:

Balboa Island - 92662 - 0 - N/A - N/A
Capo Beach - 92624 - 3 - $840,000 minus 25.3%
Corona del Mar - 92625 - 8- $2,240,000 - minus 27.4%
Costa Mesa - 92626 - 22- $473,000 - minus 16.4%
Costa Mesa - 92627 - 32 - $433,000 - minus 20.6%
Dana Point - 92629 - 18 - $920,000 - minus 23.3%
Laguna Beach - 92651 - 23 - $1,275,000 - minus 14.4%
Laguna Niguel - 92677 - 34 - $700,000 - minus 3.4%
Newport Beach - 92660 - 9 - $1,528,000 - minus 58.9%
Newport Beach - 92661- 3 - $910,000 - minus 68.3%
Newport Beach - 92663 - 5 - $1,608,000 - minus 6.4%
Newport Coast - 92657 - 8 - $3,600,000 - minus 10.6%
San Clemente - 92672 - 18 - $653,000 - minus 8.7%
San Clemente - 92673 - 26 - $769,000 - minus 21.4%

*DQNews/LATimes, 01/29/09
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Approximate Location Boundaries: Coastal Communities of South Orange County

Location Characteristics: Commonly called the "California Riviera" for its beautiful beaches and mild climate!

ZIP Codes: 92662, 92625.92626, 92627, 92624, 92629, 92651, 92677, 92657, 92657, 92660, 92661, 92662, 92663, 92672, 92673

SOUTHLAND HOME SALES EASE, STILL BEATING '07

2008-12-28T18:08:00.000-08:00

THE MARKET: SoCal home sales outpaced last year for the fifth consecutive month in November, when 55% of buyers in the resale market chose repossessed homes. The abundance of discounted foreclosures helped push the median sale price down a record 35% from a year ago.

MORTGAGE DEFAULTS: The number of mortgage default notices filed against CA homeowners fell last quarter for the first time in three years as a change in the state's formal foreclosure process took effect. If that change hadn't kicked in during early September, indications are that third-quarter default filings would have been about the same as the record number filed in this year's second quarter.

THE FUTURE: A lot of the market's distress is working its way through the system and the spectacular jumps in activity may be behind us.

IRS TO SUBORDINATE FEDERAL TAX LIENS:The Internal Revenue Service (IRS) last week announced it is "subordinating" federal tax liens and allowing primary mortgage holders to take precedence when a mortgage is refinanced or the home is sold. The new IRS program allows homeowners to refinance or sell a home without first having to pay any federal tax liens. However, the IRS is not forgiving the debt and homeowners must pay any back taxes owed.

*Sources MLS 12/28/08, CAR 11/26/08

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COASTAL AREAS SALES DATA AND DISTRESS SALES STATISTICS AS OF 12/29/08 FOR:
Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente

Active Listings = 2,119, w/Bank Conditions = 511
In Escrow Listings = 386, w/Bank Conditions = 247
Sold from 01/01/08 = 2,851, w/Bank Conditions = 1,067

*MLS 11/28/08

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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR NOVEMBER 2007 COMPARED TO NOVEMBER 2008:

% Change is from the same month last year.

City - # Sold - Median Sale Price - % change from 2007:

Balboa Island - 92662 - 1 - $1,760,000 - N/A
Capo Beach - 92624 - 2 - $543,000 minus 82.5%
Corona del Mar - 92625 - 9- $3,000,000 - 40.4%
Costa Mesa - 92626 - 24- $449,000 - minus 27.3%
Costa Mesa - 92627 - 15 - $570,000 - minus 28.3%
Dana Point - 92629 - 9 - $800,000 - minus 24.3%
Laguna Beach - 92651 - 11 - $1,266,000 - minus 29.7%
Laguna Niguel - 92677 - 22 - $718,000 - minus 13.4%
Newport Beach - 92660 - 8 - $1,225,000 - minus 25.8%
Newport Beach - 92661- 2 - $2,350,000 - minus 28.1%
Newport Beach - 92663 - 3 - $2,175,000 - minus 16.3%
Newport Coast - 92657 - 1 - $2,350,000 - minus 18.9%
San Clemente - 92672 - 10 - $650,000 - 26.8%
San Clemente - 92673 - 15 - $653,000 - minus 25.9%

*Sales information provided by DQNews/LATimes, 11/29/08

Approximate Location Boundaries: Coastal Communities of South Orange County
Location Characteristics: Commonly called the "California Riviera" for its beautiful beaches and mild climate.

DECEMBER 2008 SOUTH ORANGE COUNTY, CA COASTAL REAL ESTATE

2008-11-29T16:29:00.000-08:00

SALES UP 117%, MEDIAN PRICE FELL 39.9%

Statewide sales increased significantly in October 2008 to 552,750 homes, the highest sales level since late 2005. This record gain stemmed primarily from extremely large increases in regions with a high concentration of distress sales (bank owned and foreclosure properties). Prices continued to decline. Actually, these are good signs as sales are picking up and reduced sale prices are a result of distress sales being removed from the inventory.

STABILIZATION OF PRICES: The year-to-year decline in the statewide median home price was smaller in October than the previous months for the first time in 11 months. However, there is still no conclusive indication that prices have begun to stabilize.

COASTAL HIGH-END MARKET: For the year 2008 this market remains stable as usual. Currently, there is 1 active listing and 1 closed distress sale above $4M. The $3M market has 2 active distress listings and 1 closed sale. For the $2M market there are 6 active listings, 1 in escrow and 3 closed sales. The burden of the REO and short sales remain in the coastal entry level of below $2M with most properties having huge price reductions.

FANNIE MAE AND FREDDIE MAC: Will postpone foreclosure sales and evictions on occupied single-family residences that were scheduled to foreclose between 11/26/08 and 1/9/09. They are streamlining mortgage modification programs, starting 12/15/08 to pursue loan modification options.

BUYERS: Loan rates remain good, multiple offers are occurring on more listings; it is definitely your opportunity to purchase a home at a reduced price.

SELLERS: If you are like many sellers who are not in the foreclosure process, stay active with your pricing and make sure your property has the highest of internet exposure. When you receive an offer do all you can to be flexible in your negotiations...take the best price possible so you can move on with your life.

*Sources MLS 11/29/08, CAR 11/26/08

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COASTAL AREAS SALES DATA AND DISTRESS SALES STATISTICS AS OF 11/29/08

FOR: Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente

Active Listings = 2,283, with Bank Conditions = 511
In Escrow Listings = 427, with Bank Conditions = 271
Sold from 01/01/08 = 2,632, with Bank Conditions = 957

*MLS 11/29/08

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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR OCTOBER 2007 COMPARED TO OCTOBER 2008:
% Change is from the same month last year.

City - # Sold - Median Sale Price - % change from 2007:

Balboa Island - 92662 - 0 - N/A - N/A
Capo Beach - 92624 - 3 - $510,000 minus 45.6%
Corona del Mar - 92625 - 13 - $2,118,000 - 34.0%
Costa Mesa - 92626 - 26- $480,000 - minus 27.5%
Costa Mesa - 92627 - 15 - $570,000 - minus 28.3%
Dana Point - 92629 - 14 - $748,000 - minus 41.1%
Laguna Beach - 92651 - 18 - $850,000 - 2.7%
Laguna Niguel - 92677 - 17 - $1,878,000 - 41.7%
Newport Beach - 92660 - 22 - $1,350,000 - minus 10.3%
Newport Beach - 92661- 3 - $1,825,000 - minus 47.1%
Newport Beach - 92663 - 3 - $2,175,000 - minus 16.3%
Newport Coast - 92657 - 8 - $2,300,000 - minus 1.1%
San Clemente - 92672 - 13 - $758,000 - 1.8%
San Clemente - 92673 - 30 - $790,000 - minus 18.1%

*DQNews/LATimes, 11/29/08.

NOVEMBER 2008 SOUTH ORANGE COUNTY, CA COASTAL REAL ESTATE

2008-10-31T21:58:00.000-07:00

SOUTHLAND HOME SALES UP, PRICES DOWN

FORECLOSURES: In the South Orange County Coastal Market foreclosures represent about 36.8% of the market sales. In the over $4M market there are no foreclosure sales. Most foreclosures are in the $500K and under range.

THE MARKET: Several factors explain the sharp drop in the median price. Regionwide home price depreciation, relatively slow high-end sales and the rising market share of foreclosure resales, which tend to sell at a discount.

SALES: Last month's sales were the highest for any month since December 2006 and the year-over-year gain was the highest for any month in DataQuick's statistics, which go back to 1988. However, last month's sales were still the second-lowest for any September since 1996. Of the 15 cities that we track sales for only 3 realized an increase in sale prices from 2007. Prices have really come down this year.

LOAN RATES: On 10/29/08 the Federal Reserve cut its benchmark interest rate by half a percentage point to 1%, matching a half-century low, in an effort to avert the worst U.S. economic downturn in the postwar era. The prime rate is 4% which reflects lines of credit and the discount rate at which banks borrow money from each other is at only 1%.

Current rates:
30 yr. fixed conforming $417,000 is 6.5%, 0 points
30 yr. fixed conforming $729,500 is 6.625%, 0 points
5 yr. interest only up to $2M is 6.375%, 0 points

LOANS: Problems in the jumbo mortgage market continue to undermine high-end home sales. Before the credit crunch hit last August, 40% of sales were financed with jumbos, then defined as over $417,000. Last month just 13.2% of purchase loans were over $417,000.

*Sources DQNEWS, Sandstone Financial, 10/31/08

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COASTAL AREAS SALES DATA AND DISTRESS SALES STATISTICS FOR:
Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente

Active Listings = 2,355, with Bank Conditions = 317
In Escrow Listings = 444, with Bank Conditions = 139
Sold from 01/01/08 = 2,327, with Bank Conditions = 509

*Source SOCALMLS 10/28/08

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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR
SEPTEMBER 2007 COMPARED TO SEPTEMBER 2008
% Change is from the same month last year.
City - # Sold - Median Sale Price - % change from 2007:

Balboa Island - 92662 - 6 - $1,650,000 - minus 31.3%
Capo Beach - 92624 - 3 - $1.350,000 - minus 32.2%
Corona del Mar - 92625 - 9 - $1,550,000 - minus 25.7%
Costa Mesa - 92626 - 27- $557,000 - minus 14.0%
Costa Mesa - 92627 - 23 - $489,000 - minus 16.4%
Dana Point - 92629 - 19 - $863,000 - minus 26.9%
Laguna Beach - 92651 - 16 - $1,540,000 - 2.7%
Laguna Niguel - 92677 - 36 - $650,000 - minus 19.3%
Newport Beach - 92660 - 20 - $1,635,000 - 2.2%
Newport Beach - 92661- 1 - $9,015,000 - 48.8%
Newport Beach - 92663 - 10 - $1,236,000 - minus 11.9%
Newport Coast - 92657 - 6 - $3,310,000 - minus 12.2%
San Clemente - 92672 - 12 - $614,000 - minus 18.1%
San Clemente - 92673 - 25 - $803,000 - minus 2.4%

*Source DQNews/LATimes, 10/28/08

October 2008 South Orange County, CA Coastal Real Estate News

2008-09-30T20:13:00.000-07:00

2009 HOME PRICE STABILIZATION EXPECTED

HOME PRICES: In California home prices are expected to stabilize next year, but the state's economic woes will continue due to rising unemployment and declining consumer spending.

MEDIAN PRICE INCREASE: It was all about the discount in August when DataQuick says just 5 of 83 O.C. ZIPs saw their median selling price rise vs. a year ago. Those are Dana Point 92629, Los Alamitos 90720, Corona del Mar 92625, Laguna Beach 92651 and Newport Beach 92663.

HOME BUYING INCREASING: Home buying in OC ran above year ago levels for the 2nd straight month. A noteworthy switch after a 33 month of slumping sales. The lowering of home prices has finally pulled buyers off the fence and into them game. We are seeing more reported sales in coastal areas with inventory decreasing.

THE FUTURE: While economic woes continue on the lending and national issues, we in Orange County can be grateful that we enjoy one of the nation's strongest housing markets.

DEAL OR NO DEAL? Congressional leaders and the Bush administration push forward on coming to an agreement on the $700 Billion Bailout Plan. We'll just have to wait and see in the coming days if this historic bill will pass the Senate and House votes. The agreement will have the intent to revive our financial system and avoid negative far reaching effects to the rest of our economy.

*By Pamela Horton, 10/01/08; sources Realtor.com Traffic 8/28/08; LA Times 9/5/08
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COASTAL AREAS SALES DATA AND DISTRESS SALES STATISTICS FOR:

Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente

Active Listings = 2,409, with Bank Conditions = 301

In Escrow Listings = 490, with Bank Conditions = 144

Sold from 01/01/08 = 2,095, with Bank Conditions = 426

*MLS 8/30/08

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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR AUGUST 2007 COMPARED TO AUGUST 2008:
% Change is from the same month last year.

City - # Sold - Median Sale Price - % change from 2007:
Balboa Island - 92662 - 0 - N/A - N/A
Capistrano Beach - 92624 - 1 - $630,000 - minus 64%
Corona del Mar - 92625 - 6 - $2,000,000 - 12.7%
Costa Mesa - 92626 - 39- $520,000 - minus 26.0%
Costa Mesa - 92627 - 19 - $508,000 - minus 25.4%
Dana Point - 92629 - 16 - $775,000 - minus 14.4%
Laguna Beach - 92651 - 23 - $1,729,000 - 5.6%
Laguna Niguel - 92677 - 41 - $609,000 - minus 28.4%
Newport Beach - 92660 - 16 - $1,542,000 - minus 5.1%
Newport Beach - 92661- 2 - $2,085,000 - 1.1%
Newport Beach - 92663 - 9 - $2,310,000 - 52.0%
Newport Coast - 92657 - 7 - $1,710,000 - 3.6%
San Clemente - 92672 - 12 - $848,000 - minus 26.9%
an Clemente - 92673 - 36 - $824,000 - minus 6.3%

*Sales information provided by DQNews/LATimes, 09/28/08.

September 2008 South OC, CA Coastal Real Estate Update

2008-08-30T22:04:00.000-07:00

RESALE HOME INVENTORY DECREASING AS SALES INCREASE

THE ECONOMY: Bonds and home loan rates began the week facing a tough inflation hurdle when the Producer Price Index (PPI) came in at the biggest year-over-year increase in 27 years. The Core PPI, which excludes volatile food and energy prices, also came in at the biggest year-over-year increase since 1991. However, the recent drop in oil prices kept the topic of inflation from being too high a hurdle for Bonds with home loan rates managing to leap to some of their best levels in weeks.

MARKET ACTIVITY: Home re-sales are up higher than in the last 6 months. In the Western states increased activity is up 9.7%. Much of this activity has been in foreclosure and short sale activity, possibly with fence sitters and investors sensing that the downward pricing of homes is flattening out.

LOAN RATES: Bonds and home loan rates on 8/25/08 received an overall slightly better report with inventory down and more sales are occurring. The inventory of single family homes improved to a 10.6 months supply from 11.0 in June, which also suggests falling prices are helping to stimulate demand.

30 year fixed rates are around 6.44% and 15 year fixed rates around 5.94%. "A list" borrowers need to have a FICO score in the 700's and most lenders are requiring 20% down on single family residences and 30% on investment loans.

TO KEEP IN MIND: As a general rule, weaker than expected economic data is good for rates, while positive data causes rates to rise.

*By Pamela Horton, 9/01/08, sources Sandstone Financial, CAR.
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COASTAL AREAS SALES DATA AND DISTRESS SALES STATISTICS FOR:

Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San ClementeActive

Listings = 2,528, with Bank Conditions = 318

In Escrow Listings = 455, with Bank Conditions = 137

Sold from 01/01/08 = 1,853, with Bank Conditions = 365

*MLS 8/30/08
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR JULY 2007 COMPARED TO JULY 2008:

% Change is from the same month last year.

City - # Sold - Median Sale Price - % change from 2007:

Balboa Island - 92662 - 1 - $6,184,000 - 264.3%

Capistrano Beach - 92624 - 2 - $568,000 - minus 46.2%

Corona del Mar - 92625 - 12 - $1,680,000 - minus 25.3%

Costa Mesa - 92626 - 26- $540,000 - minus 23.9%

Costa Mesa - 92627 - 19 - $507,000 - minus 33.4%

Dana Point - 92629 - 19 - $879,000 - minus 20.1%

Laguna Beach - 92651 - 19 - $1,800,000 - 3.4%

Laguna Niguel - 92677 - 42 - $720,000 - minus 12%

Newport Beach - 92660 - 25 - $1,270,000 - minus 12.4%

Newport Beach - 92661- 3 - $4,448,000 - 76%

Newport Beach - 92663 - 13 - $1,669,000 - minus 27.4%

Newport Coast - 92657 - 7 - $2,162,000 - minus 19.8%

San Clemente - 92672 - 25 - $725,000 - minus 15.4%

San Clemente - 92673 - 25 - $825,000 - minus 1.2%

*Sales information provided by DQNews/LATimes, 08/25/08.

August 2008 Orange County Coastal Real Estate Market Update

2008-07-30T16:40:00.000-07:00

PRESIDENT SIGNS HISTORIC HOUSING BILL!!

On July 30, 2008 President Bush signed the "Housing and Economic Recovery Act of 2008."

THE REASON: To help owners with short term loans due to increase in interest rate to make refinancing more possible. Also, the secondary goal is to make financing more affordable for every type of borrower.

HOMEOWNERS: This legislation will assist an estimated 400,000 homeowners facing foreclosure, many of whom reside in California. It will allow them to refinance their current mortgages with a Federal Housing Administration (FHA)-backed loan. It will also hopefully boost sales by making loans for affordable to more buyers and thus increase lagging sales.

BUYERS: The new bill will permanently increase FHA, Fannie Mae, and Freddie Mac loan limits in high-cost areas to a loan limit of $625,500. It will allow many buyers, among them first-time home buyers, to enter the market and purchase homes.

WHAT ARE FANNIE MAE & FREDDIE MAC? Fannie Mae is the common name for the Federal National Mortgage Assn. based in Washington, DC. Freddie Mac is the common name for the Federal Home Loan Mortgage Corp. based in McLean, VA. They are publically traded mortgage companies created by the federal government. They are the two largest providers of financing for U.S. home loans. Mortgages are bought from banks, savings and loans and mortgage lenders. Some of the loans are sold as mortgage-backed securities that are federally guaranteed investments.

*By Pamela Horton, 7/30/08. Sources W. Brown, CAR President 7/30/08 and LATimes 7/20/07.

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COASTAL FORECLOSURE LISTING STATISTICS FOR:
Corona del Mar, Costa Mesa, Dana Point, Newport Beach, Newport Coast, Laguna Beach, San Clemente
Active Listings = 2,569, with Bank Conditions = 287
In Escrow Listings = 463, with Bank Conditions = 114
Sold from 01/01/08 = 1,563 with Bank Conditions = 207

*MLS 7/30/08

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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR JUNE 2007 COMPARED TO JUNE 2008:
% Change is from the same month last year.

City - # Sold - Median Sale Price - % change from 2007:
Balboa Island - 92662 - 1 - $2,125,000 - 113%
Capistrano Beach - 92624 - 4 - $735,000 - minus 40%
Corona del Mar - 92625 - 9 - $1,953,000 - 2%
Costa Mesa - 92626 - 21- $555,000 - minus 18%
Costa Mesa - 92627 - 7 - $512,000 - minus 38%
Dana Point - 92629 - 11 - $885,000 - 0%
Laguna Beach - 92651 - 15 - $1,550,000 - minus 13%
Laguna Niguel - 92677 - 52 - $750,000 - minus 17%
Newport Beach - 92660 - 14 - $1,325,000 - minus 22%
Newport Beach - 92661- 7 - $1,840,000 - minus 35%
Newport Beach - 92663 - 9 - $1,885,000 - minus 6%
Newport Coast - 92657 - 10 - $3,253,000 - 47%
San Clemente - 92672 - 24 - $805,000 - 4%
San Clemente - 92673 - 29 - $942,000 - minus 14%

*Sales information provided by DQNews/LATimes, 07/28/08.

July 2008 Real Estate Update for South Orange County Coastal Area

2008-07-07T15:09:00.000-07:00

SWIFTEST REAL ESTATE CORRECTION EVER

The Market: The current correction in the real estate market is the swiftest decline in real estate history. There has been a 20% decline in home prices over only 2 years, usually it takes 4-5 years for prices to decline to this level.

The Reason: This is due to the lessening of funds available for prime loans backed by Wall Street securities and the sub-prime loan fiasco.

For Sellers: It is still a good time to sell a home. List price needs to re-evaluated and adjusted every month that a property stays on the market or it will languish as unsold inventory.

For Buyers: This is your market! Loan rates are at an all time low. The Feds announced recently that they are not going to reduce rates in the near future. Right now the prime rate is at 2%. Last year at this time it was at 5.25%. Money is available for lending, even interest only loans. Time to make your purchase before everyone else figures out that prices are great!

*By Pamela Horton, 6/28/08. Sources CAR, BankRate.com.

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COASTAL FORECLOSURE LISTING STATISTICS FOR:
Corona del Mar, Dana Point, Newport Beach, Newport Coast, Laguna Beach, San Clemente
Active Listings = 1,921, with Bank Conditions = 205
In Escrow Listings = 207, with Bank Conditions = 75
Sold from 01/01/08 = 743, with Bank Conditions = 121

**MLS 6/28/08

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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR MAY 2007 COMPARED TO MAY 2008
% Change is from the same month last year.

City - # Sold - Median Sale Price - % change from 2007:

Balboa Island - 92662 - 1 - $2,400,000 - n/a - n/a
Capistrano Beach - 92624 - n/a - n/a - n/a
Corona del Mar - 92625 - 10 - $2,163,000 - 14.4%
Dana Point - 92629 - 16 - $832,000 - minus 17.5%
Laguna Beach - 92651 - 19 - $1,550,000 - 7.6%
Laguna Niguel - 92677 - 52 - $738,000 - minus 21.8%
Newport Beach - 92660 - 18 - $1,670,000 - 14.1%
Newport Beach - 92661- n/a -n/a - n/a
Newport Beach - 92663 - 11 - $1,200,000 - minus 29.6%
Newport Coast - 92657 - 6 - $1,694,000 - minus 43.3%
San Clemente - 92672 - 26 - $818,000 - minus 16.6%
San Clemente - 92673 - 24 - $810,000 - minus 6.6%*
Sales information provided by DQNews/LATimes, 06/28/08.

June 2008 Real Estate Update for South Orange County Coastal Area

2008-06-02T14:56:00.001-07:00

FORECLOSURES ON THE RISE, EVEN IN THE COASTAL AREA OF SOUTH ORANGE COUNTY, CA

MARKET CONDITIONS: The real estate boom ended in July, 2005 and since that time the housing industry has been struggling in a tough environment with falling sales and prices and rising mortgage defaults.

THE FUTURE: Economists believe that home prices will remain under pressure until the sizable level of inventories is worked down to more manageable levels. Many analysts don't expect to see a rebound in prices until sometime next year.

DEFAULT NOTICES - The first step toward foreclosure -- these notices were sent to owners of 110,000 California homes from Jan. 1 to March 31, according to La Jolla- based DataQuickInfo. That's about 1.4% of the homes in the state.

DEFAULTS: Up 143% from the same period last year. Homeowners in default can avoid foreclosure by catching up on payments, refinancing or selling. But fewer are doing so.

FORECLOSURE: Many loans now in default that go into foreclosure status were made to borrowers who could not afford them. Those borrowers had planned to refinance the loans, but declining home values made that impossible. In some cases homeowners took out excessive home equity loans.

THE COASTAL MARKET: Although, not as hard hit as tract homes and inland areas, are beginning to see more homes in foreclosure or default status. Foreclosures have jumped 329.4% in Orange County.

COASTAL FORECLOSURE LISTING STATISTICS FOR:
Corona del Mar, Dana Point, Newport Beach, Newport Coast, Laguna Beach, San Clemente
Active Listings = 1,964, with Bank Conditions = 206
In Escrow Listings = 206, with Bank Conditions = 75
Sold from 01/01/08 = 573, with Bank Conditions = 87

**By Pamela Horton. Sources: LATimes 4/23/08, SoCal MLS 5/27/08

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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR APRIL 2007 COMPARED TO APRIL 2008:
% Change is from the same month last year.

City - # Sold - Median Sale Price - % change from 2007:

Balboa Island - 92662 - 3 - $5,495,000 - n/a - n/a
Capistrano Beach - 92624 - 5 - $610,000 - 8.5%
Corona del Mar - 92625 - 16 - $1,485,000 - minus 8.6%
Dana Point - 92629 - 20 - $1,040,000 - minus .09%
Laguna Beach - 92651 - 16 - $1,545,000 - 1.8%
Laguna Niguel - 92677 - 40 - $785,000 - minus 7.7%
Newport Beach - 92660 - 13 - $1,250,000 - minus 33.5%
Newport Beach - 92661- 1 - $4,900,000 - 133.3%
Newport Beach - 92663 - 10 - $2,488,000 - 94%
Newport Coast - 92657 - 9 - $3,407,000 - 91.9%
San Clemente - 92672 - 17 - $785,000 - minus 16.1%
San Clemente - 92673 - 33 - $820,000 - minus 9.1%

*Sales information provided by DQNews/LATimes, 05/27/08.