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| Just Listed by Amanda and Pamela 1040 Santa Ana St, Laguna Beach Panoramic Ocean Views, 3 Beds, 2 Baths, $1,279,000 www.1040SantaAna.com
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2016 THE YEAR OF CAUTIOUS
OPTIMISM
Demand for "for-sale" housing will grow and will continue to be dominated by older Milennials, those aged 18 to 34. This demographic has the potential to claim a third of home sales in 2016 and represent two million home purchases.
Gen-X,
aged 28 to 45 years, is in prime earning years and experiencing
improvements in their economic circumstances, which include more relocations
and seeking better neighborhoods for their families. Older Boomers, aged 46 to
64 years, are approaching — or already in — retirement and seeking to downsize
or lock to a lower cost of living. Together, these two generations will provide
much of the suburban inventory that Milennials desire to start their own
families.
Renting
vs. Buying:
There
will be continued growth of rental rates and the moderating trend in home
prices. The pattern seen in 2015 was largely characterized by a white-hot
rental market, and if this continues, more households will likely choose to
rent over buy in 2016. For the purchase market, increasing rental rates
continue to make it more difficult for potential buyers to save up for a down
payment.
Mortgage
Information: Mortgage
rates should also begin their long-anticipated ascent as the Federal Reserve is
careful on influencing rates up without negatively impacting economic
growth.
30 year fixed Mortgage rate is currently 3.72%, down
big versus one week ago
15 year fixed rate is 3.01%, down big versus one week ago.
15 year fixed rate is 3.01%, down big versus one week ago.
*Inman News 2/9/16
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JANUARY 2016 SALES STATISTICS FOR LAGUNA BEACH:
162 Active Listings
30 Pending Sales
29 Closed Sales from 1/01/16 - 1/31/16
Sales Statistics:
9 - less than - $1,000,000
7 - $1,000,001 - $1,500,000
2 - $1,500,001 - $2,000,000
4 - $2,000,001 - $2,500,000
4 - $2,500,001 - $3,000,000
0 - $3,000,001 - $3,500,000
0 - $3,500,001 - $4,000,000
3 - $4,000,001 - $4,500,000
Sales statistics for the month of January, 2016. There are only 30 Pending Sales, the lowest since February, 2009 almost seven years ago. The 29 closed sales in January represents the highest number of January closings in five years. Go figure! The number of current Active listings is down to 162 the lowest in three years. Now is a good time to sell with inventory and interest rates low.
*CRMLS 2/9/16
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Just Listed and In Escrow with Multiple Offers
by Amanda and Pamela
Panoramic Ocean View Condo
3 Beds/2.5 Baths, $1,399,000
www.21799OceanVista.com
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JANUARY 2016 SALES STATISTICS FOR LAGUNA BEACH:
162 Active Listings
30 Pending Sales
29 Closed Sales from 1/01/16 - 1/31/16
Sales Statistics:
9 - less than - $1,000,000
7 - $1,000,001 - $1,500,000
2 - $1,500,001 - $2,000,000
4 - $2,000,001 - $2,500,000
4 - $2,500,001 - $3,000,000
0 - $3,000,001 - $3,500,000
0 - $3,500,001 - $4,000,000
3 - $4,000,001 - $4,500,000
Sales statistics for the month of January, 2016. There are only 30 Pending Sales, the lowest since February, 2009 almost seven years ago. The 29 closed sales in January represents the highest number of January closings in five years. Go figure! The number of current Active listings is down to 162 the lowest in three years. Now is a good time to sell with inventory and interest rates low.
*CRMLS 2/9/16
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by Amanda and Pamela
Panoramic Ocean View Condo
3 Beds/2.5 Baths, $1,399,000
www.21799OceanVista.com
