SALES AND PRICES UP IN SO CAL MARKET
Southern California's housing market continued its step-by-step climb up from the January-February bottom as both sales and prices saw gains last month.
Sales have been stoked in recent months by several factors: A federal tax credit for first-time buyers, which had been set to expire last month before it was extended and expanded; robust investor activity, especially inland; super-low mortgage rates; the availability of government-insured, low-down-payment mortgages for first-time buyers; and the allure of a potential "deal" on a distressed property.
"This market is still really lopsided. Foreclosures and short sales are huge factors. There's still not a lot of discretionary buying and selling outside the more affordable markets. Anybody who can sit tight is doing just that. The market won't fully rebalance itself until financing becomes available for the higher price ranges."
JANUARY 2010 MONEY CALENDAR
1 - Parents of college-bound high school seniors: Fill out Free Application for Federal Student Aid (FAFSA).
4 - First trading day of 2010.
7 - Set financial goals, update your budget and resolve to pay off holiday debt.
8 - Convert traditional IRA to a Roth; income limits for conversions are gone.
15 - Estimated federal taxes for the fourth quarter of 2009 are due.
21 - Seniors: If you're over 70.5, talk to your IRA administrators about resuming regular required minimum distribution payments.
26 - Federal Open Market Committee meets to review interest rates.
*John Walsh, MDA DataQuick President, 12/15/09
*Sandstone Financial, 12/28/09
------------------------------------------------------------------------
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 = 2028, w/Bank Conditions = 396
In Escrow Listings = 863, w/Bank Conditions = 551
Sold from 01/01/09 = 3837, w/Bank Conditions = 1229
*MLS 12/27/09
------------------------------------------------------------------------
COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR NOVEMBER 2008 COMPARED TO NOVEMBER 2009:
City - # Sold - Median Sale Price - % change from 2008:
Balboa Island - 92662 - 1 - 1,650,000 - minus 6.3%
Capo Beach - 92624 - 8 - $665,000 - + 22.6%%
Corona del Mar - 92625 - 4- $2,925,000 - 3%
Costa Mesa - 92626 - 23- $516,000 - +1.2%
Costa Mesa - 92627 - 20 - $580,000 - + 16.3%
Dana Point - 92629 - 12 - $641,000 - minus 19.9%
Laguna Beach - 92651 - 28 - $1,000,000 - minus 21%
Laguna Niguel - 92677 - 45 - $665,000 - minus .9%
Newport Beach - 92660 - 27 - $1,215,000 - minus .8%
Newport Beach - 92661- 4 - $1,950,000 - minus 43.5%
Newport Beach - 92663 - 11 - $1,028,000 - minus 56.3%
Newport Coast - 92657 - 13 - $1,699,000 - 22%
San Clemente - 92672 - 16 - $710,000 - 9.2%
San Clemente - 92673 - 27 - $655,000 - minus 3%
Percentage change is compared to the same month of the prior year.
DQNews/LATimes, 12/27/09
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!
For More Information:
Visit My Web Site
View My Newsletter
Ask Me A Question
