BELIEF 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
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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
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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
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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!
