Sunday, November 1, 2015


Close to Beach and Town - 721 Browncroft Rd, Laguna Beach
3 Bedrooms/4 Baths $1,999,000
Strong Sales Lift U.S. Home Prices 5.1% 
Solid sales pushed up U.S. home prices at a steady pace in August from a year earlier, a sign that the housing market is improving despite a slowdown in the overall economy.

Home Prices: Prices have risen at a 5% pace for most of this year, which economists see as more sustainable than last year's double-digit gains. Three years of solid hiring and historically low mortgage rates have enabled more Americans to buy homes.
Sales: Sales of existing homes jumped 4.7% in September to a seasonally adjusted annual rate of 5.55 million.  The number of existing homes for sales has fallen 3.1% in the past 12 months. In September, the number of available homes was equal to just 4.8 months' of sales, below the six months that is typical of a balanced market.

Mortgage Rates: Low mortgage rates are helping would-be buyers. The average rate on a 30-year fixed mortgage fell to 3.79% last week, its the 13th straight week below 4%.
Interest Rate News: Buyers and the industry will have to wait a little longer for the expected rate hike. This is to support continued progress toward maximum employment and price stability. So rates will stay at the current 0 to 1/4%. The Federal objective is try to maximum employment at a 2% inflation. They did hint at a possible December rate hike.

LATimes/CAR 10/28/15

189 Active Listings 

41  In Escrow
23 Closed Sales from 9/01/15 - 9/30/15

Statistics for October Sales:
 Sale $488,000
12 Sales $1-2 million
  4 Sales $2-3 million
  1 Sale  $3,200,000
  2 Sales $5-6 million

  2 Sales $10-11 million
  1 Sale for 17,200,000

*Source CRMLS 11/01/15

Fabulous Alta Vista Lease - Forever Views
1350 Alta Vista Dr, Laguna Beach
4 bedrooms, 3 baths, 3,200 SF $9,775/Month