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| Swimmimg With The Dolphins Laguna Beach, January 2012 |
ECONOMIC SIGNS IMPROVING ALONG WITH LOW MORTGAGE RATES
In California economic vital signs have improved lately and it's sparked a renewed sense of optimism in housing circles. Coupled with incredibly low mortgage rates, it certainly suggests 2012 might offer the 'rock bottom' for pricing that many buyers and sellers have been waiting for. But the housing drama isn't over. Lending guidelines remain stringent leaving many unable to take advantage of today's improved affordability. With many homes in default lenders still must decide the fate of scores of borrowers who aren't making their mortgage payments.
DISTRESSED SALES: Nearly one out of three homes resold last month was a foreclosure, while about one in five was a "short sale." Distressed property sales accounted for 52.5% of the Southland resale market in December, up from 51.2% in November but down from 53.8% in December 2010.
CASH BUYERS: Last month 30.9% of all sales of new and resale houses and condos sold statewide were bought without a mortgage - the highest level in at least 23 years.
MILLION DOLLAR SALES: While overall California home sales declined last year, the number that sold for $1 million or more rose for the first time in five years as certain segments of the economy improved and high-end home shoppers went bargain hunting.
FEBRUARY STATISTICS FOR LAGUNA BEACH: Currently in Laguna Beach there are:
233 homes for sale
57 in escrow
18 closed sales from 1/1/12
Sales ranges:
11 sales under $1 million
4 sales $1-2 million
1 sale $2-3 million
2 sales $4-5 million
*SoCalMLS, DQNews 02/01/12
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COASTAL AREA SALES AND DISTRESS SALE STATISTICS FOR 2012 FROM 01/01/12:
Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente
Active Listings = 1,753 Distressed = 325
In Escrow Listings = 845 Distressed = 508
Sold from 01/01/11 = 222 Distressed = 79
*SoCalMLS 02/01/12
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR JANUARY 2011 COMPARED TO JANUARY 2012:
City - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 3 - $2,325,000 - minus 24.8
Capo Beach - 92624 - 6- $510,000 - minus 17.7%
Corona del Mar - 92625 - 13 - $1,850,000- 8.7%
Costa Mesa - 92626 - 35 - $439,000 - minus 12.6%
Costa Mesa - 92627 -20- $510,000 - minus 17.7%
Dana Point - 92629 - 14 - $545,000 - minus 17.8%
Laguna Beach - 92651 - 30 - $1,294,000 - 15%
Laguna Niguel - 92677 -44 - $607,000 - minus 7.8%
Newport Beach - 92660 - 25 - $1,030,000 - minus 16.7%
Newport Beach - 92661- 4 - $2,025,000 - 15.7%
Newport Beach - 92663 - 12- $1,062,000 - minus 21.9%
Newport Coast - 92657 - 14 - $1,901,000 - 5.0%
San Clemente - 92672 -22 - $505,000 -minus 17.4%
San Clemente - 92673 - 29 - $610,000 - minus 7.9%
*DataQuickNews 02/01/2012
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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!
In California economic vital signs have improved lately and it's sparked a renewed sense of optimism in housing circles. Coupled with incredibly low mortgage rates, it certainly suggests 2012 might offer the 'rock bottom' for pricing that many buyers and sellers have been waiting for. But the housing drama isn't over. Lending guidelines remain stringent leaving many unable to take advantage of today's improved affordability. With many homes in default lenders still must decide the fate of scores of borrowers who aren't making their mortgage payments.
DISTRESSED SALES: Nearly one out of three homes resold last month was a foreclosure, while about one in five was a "short sale." Distressed property sales accounted for 52.5% of the Southland resale market in December, up from 51.2% in November but down from 53.8% in December 2010.
CASH BUYERS: Last month 30.9% of all sales of new and resale houses and condos sold statewide were bought without a mortgage - the highest level in at least 23 years.
MILLION DOLLAR SALES: While overall California home sales declined last year, the number that sold for $1 million or more rose for the first time in five years as certain segments of the economy improved and high-end home shoppers went bargain hunting.
FEBRUARY STATISTICS FOR LAGUNA BEACH: Currently in Laguna Beach there are:
233 homes for sale
57 in escrow
18 closed sales from 1/1/12
Sales ranges:
11 sales under $1 million
4 sales $1-2 million
1 sale $2-3 million
2 sales $4-5 million
*SoCalMLS, DQNews 02/01/12
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COASTAL AREA SALES AND DISTRESS SALE STATISTICS FOR 2012 FROM 01/01/12:
Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente
Active Listings = 1,753 Distressed = 325
In Escrow Listings = 845 Distressed = 508
Sold from 01/01/11 = 222 Distressed = 79
*SoCalMLS 02/01/12
---------------------------------------------------------------------
COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR JANUARY 2011 COMPARED TO JANUARY 2012:
City - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 3 - $2,325,000 - minus 24.8
Capo Beach - 92624 - 6- $510,000 - minus 17.7%
Corona del Mar - 92625 - 13 - $1,850,000- 8.7%
Costa Mesa - 92626 - 35 - $439,000 - minus 12.6%
Costa Mesa - 92627 -20- $510,000 - minus 17.7%
Dana Point - 92629 - 14 - $545,000 - minus 17.8%
Laguna Beach - 92651 - 30 - $1,294,000 - 15%
Laguna Niguel - 92677 -44 - $607,000 - minus 7.8%
Newport Beach - 92660 - 25 - $1,030,000 - minus 16.7%
Newport Beach - 92661- 4 - $2,025,000 - 15.7%
Newport Beach - 92663 - 12- $1,062,000 - minus 21.9%
Newport Coast - 92657 - 14 - $1,901,000 - 5.0%
San Clemente - 92672 -22 - $505,000 -minus 17.4%
San Clemente - 92673 - 29 - $610,000 - minus 7.9%
*DataQuickNews 02/01/2012
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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!
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