AUGUST 2013 SOUTH ORANGE COUNTY REAL ESTATE

Pamela & Amanda OC Business Journal
Women in Business Award Nominees in 2013



EXISTING HOME SALES SKYROCKETED IN JUNE

Southern California home prices increased 28.3% in June compared to a year ago. The jump was greater than any year-over-year pop seen during the housing boom and the most since January 1989, the first time Data-Quick started tracking these figures.

This market's getting really interesting. There are signs the "blistering pace" of rising home prices won't continue due to rising mortgage rates and the fact that more home owners are waking up to this reviving market and listing their houses for sale.

Why are people moving? Western US leads in people moving more this year more than in the last 5 years. Responses noted: Newer or better home 50%, Better neighborhood 30%, Easier commute 21%

*Source DQNews 7/29/13

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JULY STATISTICS FOR LAGUNA BEACH:

234 active listings
54 in escrow
33 closed sales from 7/01/13 - 7/31/13

33 Sales for JULY 2013:5
5 sales under $1 million
16 sales $1-2 million
8 sales $2-3 million
2 sales $3-4 million
1 sale $8,000,000
1 sale $9,000,000

*Source CRMLS 7/31/13
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR JUNE 2012 COMPARED TO JUNE 2013:

Balboa Island - 92662 - 2 - $2,200,000 -minus 14.9%
Capo Beach - 92624 - 6 - $790,000 - 26.4%
Corona del Mar - 92625 - 15 - $2,000,000 - 28.4%
Costa Mesa - 92626 - 31- $610,000 - 17.3%
Costa Mesa - 92627 - 37 - $613,000 - 13.4%
Dana Point - 92629 - 32 - $763,000 - 2.5%
Laguna Beach - 92651 - 38 - $1,555,000 - 11.1%
Laguna Niguel - 92677 - 64 - $833,000 - 36.9%
Newport Beach - 92660 - 38 - $1,650,000 - 25.8%
Newport Beach - 92661 - 5 - $1,800,000 - 12.5%
Newport Beach - 92663- 14 - $1,463,000 - 28%
Newport Coast - 92657 - 18 - $3,145,000 - 71%
San Clemente - 92672 - 27 - $865,000 - 45.5%
San Clemente - 92673 - 49 - $855,000 - 22.1%

*Source DQNews/LATimes 7/29/13

Oceanfront Cape Cod Masterpiece

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FEBRUARY 2013 SOUTH ORANGE COUNTY REAL ESTATE

The Ocean Is Always A Wonderous Site

MILLION DOLLAR SALES INCREASED BY 34%, ALL HOME SALES INCREASE BY 17% IN 2012


3,631 Orange County homes sold for $1 million or more in 2012, the highest number since 2007. That’s up 34% from 2011′s tally of million-plus sales, compared to an increase of 17% for sales of all homes in the county.
 

Statewide, million-plus sales increased 27% to 26,993, vs. an 8.2% increase for sales in all price ranges. A record number of California buyers, 7,791 or 29% — paid all cash for their mansions, Data-Quick reported. In addition, four Orange County ZIP codes ranked among 25 in the state with the most million-plus sales: Newport Beach’s back bay area (92660) had 362 $1 million-plus home sales, the report said. Laguna Beach (92651) had 307, Corona del Mar (92625) had 256 and Newport Coast (92657) had 228.
 

This increase is attributed in luxury sales to a recovering economy, rising home prices and a record number of cash purchases. The confidence in the market has returned to high-end buyers.

 

JANUARY STATISTICS FOR LAGUNA BEACH:
157 active listings
50 in escrow
20 closed sales from 12/01/12 - 12/31/12

20 Sales for January 2013:
7 sales under $1 million
8 sales $1-2 million
2 sales $2-3 million
3 sales $4-5 million

*CRMLS, DQNews 1/31/13

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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR DECEMBER 2011 COMPARED TO DECEMBER 2012:
City - Zip Code - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 3 - $1,665,000 - minus 28.4%
Capo Beach - 92624 - 9 - $649,000 - 27.3%
Corona del Mar - 92625 - 17 - $1,984,000 - 7.2%
Costa Mesa - 92626 - 30 - $505,000 - 7%
Costa Mesa - 92627 - 37 - $513,000 - .5%
Dana Point - 92629 - 58 - $773,000 - 42%
Laguna Beach - 92651 - 40 - $1,350,000 - 5%
Laguna Niguel - 92677 - 64 - $650,000 - 7.2%
Newport Beach - 92660 - 31 - $1,269,000 - 6%
Newport Beach - 92661 - 9 - $2,375,000 - 17.3%
Newport Beach - 92663- 19 - $1,653,000 - 56.6%
Newport Coast - 92657 - 15 - $2,710,000 - 42.5%
San Clemente - 92672 - 40 - $603,000 - 19.4%
San Clemente - 92673 - 42 - $755,000 - 23.7%

*Orange County posted nearly a 17% gain for the last year with sales rising in 77 of the county's 83 zip codes.

*DataQuickNews/LATimes/CRMLS 1/31/13
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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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JANUARY 2013 SOUTH ORANGE COUNTY REAL ESTATE MARK...




December Sunset and Basketball at Main Beach
Photo by Leah Overstreet

 

CALIFORNIA MEDIAN HOME PRICE HIGHEST YEAR-TO-YEAR INCREASE SINCE JUNE 2004
                                           WITH INTERST RATES HISTORICLY LOW

As the statewide median price continued to register double-digit gains from year-ago levels, strong sales of higher-priced homes led to a year-over-year increase in sales in California during November. This is due to the very low inventory priced under $1 million. The negative impact of a lean housing supply on home sales is becoming more apparent.

Sale Trends: California's median home prices continued to strengthen in November, marking its highest point since August 2008. The significant increase in price is due in part to the change in the mix of sales. Coastal markets, which tend to have high-end properties, accounted for a larger share of total sales which led to stronger price gains overall.

Mortgage Interest Deduction: In the new year it is likely that sales and prices will remain solid. This is dependent upon the strength of the economy and if Congress preserves the valuable mortgage interest deduction that homeowners in California depend on.

Interest Rates: One of the key reasons real estate agents and others often cite for buying a home now is that historically low mortgage rates won't last forever. And they're right. On Thursday, Freddie Mac reported rates at 3.99% for just the second time since 1971. Projected interest rates won't get much higher over the next two years: The forecast predicts that rates will average 4% in 2012 and 4.5% in 2013.

2014 and Beyond: Forecasts then project a steep rise in mortgage rates in 2014 with interest averaging 7.3% from 2015 through 2017 and median home prices increasing 35% over the next six years in Orange County and nearly 53% in California.

DECEMBER 2012 STATISTICS FOR LAGUNA BEACH:
173 active listings
52 in escrow
38 closed sales from 12/01/12 - 12/31/12

38 Sales for December 2012:
12 sales under $1 million
12 sales $1-2 million
8 sales $2-3 million
2 sales $3-4 million
1 sale $4,460,000
1 sale $6,200,000
1 sale $14,025,000 (auction - oceanfront)
1 sale $17,500,000
*CRMLS, DQNews 1/01/13
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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 = 1028 Distressed = 56
In Escrow Listings = 908 Distressed = 383
Sold from 01/01/12 = 4,891 Distressed = 1,304

*Distress sale amounts are decreasing.
*CRCalMLS 1/01/13
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR MOVEMBER 2011 COMPARED TO NOVEMBER 2012:

City - Zip Code - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 3 - $1,930,000 - 40.9%
Capo Beach - 92624 - 6 - $575,000 - 20.0%
Corona del Mar - 92625 - 14 - $2,145,000 - 26.4%
Costa Mesa - 92626 - 21 - $515,000 - minus 27.8%
Costa Mesa - 92627 - 24 - $660,000 - 50%
Dana Point - 92629 - 29 - $705,000 - 13.3%
Laguna Beach - 92651 - 42 - $1,150,000 - 4.5%
Laguna Niguel - 92677 - 70 - $650,000 - minus 2.6%
Newport Beach - 92660 - 37 - $1,060,000 - minus 4.4%10.1%
Newport Beach - 92661 - 11 - $1,335,000 - minus 6.3%
Newport Beach - 92663- 20 - $1,263,000 - 36.3%
Newport Coast - 92657 - 21 - $2,350,000 - minus 3.19%
San Clemente - 92672 - 32 - $710,000 - 42.9%
San Clemente - 92673 - 29 - $710,000 - 18.3%

*Only 5 zip codes with lower median price year over year. Info DataQuickNews/LATimes/CRMLS 1/01/13
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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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NOVEMBER 2012 SOUTH ORANGE COUNTY REAL ESTATE MARKET CONDITIONS ORANGE COUNTY CA

Laguna Coastline
Scott Brashier



HOME SALE PRICES CLIMB, SALES DECLINE DUE TO LOW INVENTORY
The median price paid for a SoCal rose again in September to a more-than-four-year high yet with inventory low, the amount of sales dropped. For the first time in nine months sales declined compared with a year earlier as low-end home deals have sold and foreclosure resales hit a nearly five-year low.

The median sale price has risen mainly for two reasons.
1. Higher demand, triggered largely by ultra-low mortgage rates.
2. There is now a dwindling supply of homes for sale with the mid- to high-end move-up properties picking up more sales.

In September, price levels for the lowest-cost 1/3 of housing stock rose 13.2%, while they rose 7.7% in the middle range and 3.5% in the top third.

OCTOBER STATISTICS FOR LAGUNA BEACH:
183 homes for sale
63 in escrow
40 closed sales from 10/01/12 - 10/31/12

40 Sales for October 2012:
12 sales under $1 million
17 sales $1-2 million
5 sales $2-3 million
3 sales $3-4 million
2 sales $6-7 million

*Higher price ranges moving up in sale amounts as low end homes drop off due to lack of inventory.
*SoCalMLS, DQNews 11/01/12
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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 = 1139 Distressed = 68
In Escrow Listings = 986 Distressed = 416
Sold from 01/01/12 = 4,421 Distressed = 1,208

*Distress sale amounts are decreasing.
*SoCalMLS 11/01/12
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR SEPTEMBER 2011 COMPARED TO SEPTEMBER 2012:
City - Zip Code - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 1 - $2,395,000 - 6.4%
Capo Beach - 92624 - 13 - $560,000 - 12.4%
Corona del Mar - 92625 - 21 - $1,330,000 - minus 19.9%
Costa Mesa - 92626 - 24 - $502,000 - 4.3%
Costa Mesa - 92627 - 20 - $500,000 - 1.2%
Dana Point - 92629 - 22 - $717,000 - 12.5%
Laguna Beach - 92651 - 35 - $1,325,000 - 10.4%
Laguna Niguel - 92677 - 44 - $698,000 - 8.7%
Newport Beach - 92660 - 37 - $1,310,000 - 14.4%
Newport Beach - 92661 - 6 - $2,115,000 - minus 29.2%
Newport Beach - 92663- 16 - $2,108,000 - 84.5%
Newport Coast - 92657 - 15 - $1,690,000 - 45.2%
San Clemente - 92672 - 27 - $700,000 - 41.7%
San Clemente - 92673 - 38 - $668,000 - minus 8.7%

*DataQuickNews 11/01/2012
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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!

 

 

 

HortonsInLaguna.com



OCTOBER 2012 SOUTH ORANGE COUNTY REAL ESTATE MARKET CONDITIONS ORANGE COUNTY CA

Laguna Hotel Car Art - Ken Erickson

SOUTHLAND HOME SALES HIT 6-YEAR HIGH; MEDIAN EDGES HIGHER

Southern California home sales rose to the highest level for the month of August in six years, fueled by low mortgage rates, a healthier move-up market and near-record levels of investor and cash buying. The median price paid for a home rose to a four-year high, lifted partly by the ongoing shift toward fewer foreclosure resales and more mid- to high-end deals,

August was the strongest month for home sales so far this year, and the strongest for an August in six years. That's really saying something given the drop in low-end sales, especially foreclosure resales. Much of the pickup in activity reflects a continuation of trends we've seen for months, like the unleashing of pent-up demand in move-up markets and high levels of cash and investor buying.

SEPTEMBER STATISTICS FOR LAGUNA BEACH:
186 homes for sale
74 in escrow
29 closed sales from 9/1/12 - 9/30/12

29 Sales for September 2012:
7 sales under $1 million
12 sales $1-2 million
5 sales $2-3 million
1 sale for $3,175,000
2 sales $4-5 million
1 sale for $6,625,000
1 sale for $20.000.000

*Higher price ranges starting to sell more.
*SoCalMLS, DQNews 10/03/12
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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 = 1,234 Distressed = 75
In Escrow Listings = 1,039 Distressed = 439
Sold from 01/01/12 = 4,001 Distressed = 1123

*Distress sales are lowering
*SoCalMLS 10/03/12
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR AUGUST 2011 COMPARED TO AUGUST 2012:
City - Zip Code - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - N/A - N/A - N/A
Capo Beach - 92624 - 87 - $598,000 - 3.9%
Corona del Mar - 92625 - 20 - $1,605,000 - minus 7%
Costa Mesa - 92626 - 34 - $510,000 - 6.5%
Costa Mesa - 92627 - 27 - $540,000 - 19.6%
Dana Point - 92629 - 31 - $700,000 - 20%
Laguna Beach - 92651 - 37 - $1,500,000 - 46.7%
Laguna Niguel - 92677 - 74 - $660,000 - 48.7%
Newport Beach - 92660 - 54 - $1,276,000 - 2.1%
Newport Beach - 92661 - 5 - $1,575,000 - minus 12.5%
Newport Beach - 92661- 19 - $2,017,000 - 56.7%
Newport Coast - 92657 - 23 - $2,700,000 - 54.8%
San Clemente - 92672 - 35 - $725,000 - 24.5%
San Clemente - 92673 - 32 - $700,000 - 4.5%

*DataQuickNews 10/03/2012
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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!

Visit HortonsInLaguna.com

 

SEPTEMBER 2012 SOUTH ORANGE COUNTY REAL ESTATE MARKET CONDITIONS ORANGE COUNTY CA

Nights Are Beautiful in Laguna Beach
 

SOUTHLAND HOME SALES UP AGAIN FROM 2011; MEDIAN PRICE NEARS A 4-YEAR HIGH
Home sales rose last year for the 7th month in July along with declines in distress sales. Increased activity in move-up and high-end submarkets also contributed to the significant increase in sales that are at a 4-year high. This is an increase in sales and a decrease in inventory not seen since 2005. For local area sales statistics see the prices by zip code in this article.

Greater demand, partially triggered by historically low mortgage rates, and a thinner inventory of homes for sale help explain recent gains in the median price. The increases also stem from a sharp drop in foreclosure resale properties which often sell at a steeply discounted price.

Commercial Real Estate: Sharply higher demand for rental units is causing rents to rise at faster rates. A return to normal household formation will mean even lower vacancy rates and higher rents in the future. The difficulty small businesses have in getting commercial real estate loans for leasing or purchase is keeping a lid on demand for commercial properties.

AUGUST STATISTICS FOR LAGUNA BEACH: 222 homes for sale
77 in escrow
40 closed sales from 8/1/12 - 8/31/12

33 Sales Ranges for August 2012:
9 sales under $1 million
13 sales $1-2 million*
5 sales $2-3 million
3 sales $3-4 million
3 sales $6-7 million

*Under $1million reduced sales.
*SoCalMLS, DQNews 8/31/12
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COASTAL AREA SALE 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 = 1,414 Distressed = 90
In Escrow Listings = 997 Distressed = 463
Sold from 01/01/12 = 3,527 Distressed = 1008

*SoCalMLS 08/31/12
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR JULY 2011 COMPARED TO JULY 2012:
City - Zip Code - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 3 - $1,395,000 - minus 54.4%
Capo Beach - 92624 - 7 - $722,000 - 14.6%
Corona del Mar - 92625 - 19 - $1,750,000 - 42.9%
Costa Mesa - 92626 - 29 - $488,000 - minus%
Costa Mesa - 92627 - 24 - $613,000 - 19.6%
Dana Point - 92629 - 31 - $700,000 - 7.7%
Laguna Beach - 92651 - 40 - $1,375,000 - minus 5.7%
Laguna Niguel - 92677 - 75 - $640,000 - minus 7.9%
Newport Beach - 92660 - 47 - $1,242,000 - minus 6.6%
Newport Beach - 92661- 15 - $1,455,000 - 16%
Newport Beach - 92663 - 21 - $1,250,000 - 1.6%
Newport Coast - 92657 - 13 - $1,580,000 - minus 8.1%
San Clemente - 92672 - 30 - $561,000 - minus 5.3%
San Clemente - 92673 - 45 - $720,000 - 0.0%

*DataQuickNews 08/31/2012
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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!

                                                            Visit HortonsInLaguna.com

AUGUST 2012 SOUTH ORANGE COUNTY REAL ESTATE MARKET CONDITIONS ORANGE COUNTY CA

Laguna Sunset
Photo by Scott Brashier



SHRINKING INVENTORY UPENDS HOME MARKET

Many home shoppers assume they are still in a buyers' market find that reality is inventory is shrinking. The supply of homes for sale has fallen. This is having an important side effect by raising prices.

WHAT BUYERS ARE DOING:
Finding themselves often a multiple offer situation buyers are inserting price escalation clauses in their counter offers. Often they are waiving financing contingencies, home inspections and agreeing to raise their down payment.

BEHIND THE INVENTORY DECLINE:
Negative equity plays a large role. Sellers don't want to take a big loss in a slowly improving price environment. So they sit tight rather than list.

WHAT LENDERS ARE DOING: Banks with large stocks of pre-foreclosure and foreclosed properties are doing the same, holding homes off the market. This is creating a "shadow inventory" of estimated 1.5 million unsold homes.

JULY STATISTICS FOR LAGUNA BEACH:
222 homes for sale
77 in escrow
40 closed sales from 7/1/12 - 7/31/12

40 Sale Ranges for July 2012:
13 sales under $1 million
12 sales $1-2 million*
8 sales $2-3 million
2 sales $3-4 million
2 sales $6-7 million
2 sales $8-9 million
1 sale for $16,000,000

*$2-3M range picks up more sales.
*SoCalMLS, DQNews 7/31/12
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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 = 1,491 Distressed = 108
In Escrow Listings = 1,090 Distressed = 493
Sold from 01/01/12 = 2,977 Distressed = 880

*SoCalMLS 07/31/12
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR JUNE 2011 COMPARED TO JUNE 2012:

City - Zip Code - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 1 - $2,585,000 - minus 41.3%
Capo Beach - 92624 - 11 - $625,000 - 5.4%
Corona del Mar - 92625 - 24 - $1,675,000 minus 11.7%
Costa Mesa - 92626 - 31 - $520,000 - 10.1%
Costa Mesa - 92627 - 22 - $540,000 - 8.0%
Dana Point - 92629 - 27 - $746,000 - 10.8%
Laguna Beach - 92651 - 43 - $1,400,000 - 3.7%
Laguna Niguel - 92677 - 62 - $608,000 - minus 9.9%
Newport Beach - 92660 - 54 - $1,300,000 - 13.0%
Newport Beach - 92661- 3 - $1,600,000 - minus 51.6%
Newport Beach - 92663 - 27 - $1,143,000 - minus 12.1%
Newport Coast - 92657 - 20 - $1,839,000 - minus 37.2%
San Clemente - 92672 -44 - $595,000 - 6.7%
San Clemente - 92673 - 43 - $700,000 - 2.9%

*DataQuickNews 07/31/2012
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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!

Scan QR code or click link to search for properties for sale.

www.HortonsInLaguna.com

JULY 2012 SOUTH ORANGE COUNTY REAL ESTATE MARKET CONDITIONS ORANGE COUNTY CA

Oak Street Surf, Laguna Beach, CA

COASTAL HOME SALES LEADING THE MARKET TO RECOVERY

Coastal property sales lead the housing market in its continued long, step-by-tiny-step trek back toward normalcy in May. The median sale prices rose year-over-year for the second consecutive month for a 20-month high.


Home sales increased across the region but the gains were highest in coastal areas where move-up markets have picked up steam.


Loans: Credit remains tight with loan terms very stringent. The share of purchase loans that are in the "jumbo" category (over $417,000) edged higher as adjustable rate loans lowered. Investor and cash-only home purchases remain near record levels.


More Good News:
ORANGE COUNTY REGISTER 6/17/2012 Jonathan Lansner


"SELLERS RAISE PRICES AT TOP END OF LOCAL MARKET" With a tight supply of homes for sale and shoppers actually buying - we were bound to see hints that prices could be rebounding too. Curiously, we're seeing the strength most at the upper end of the market. O.C. sellers of higher-end homes are raising prices to levels not seen in 20 months.


"RENTS HIT 3-YEAR HIGH" O.C. rentals increase an average of $72.00 or 4.7% after 5 straight quarterly raises. Prior inventory shows  94.8% of vacancies have been filled.


JUNE STATISTICS FOR LAGUNA BEACH: 236 homes for sale
72 in escrow
40 closed sales from 6/1/12 - 6/30/12


Sales ranges for June 2012:
14 sales under $1 million
19 sales $1-2 million*
2 sales $2-3 million
2 sales $3-4 million
2 sales $4-5 million
1 sale for $8,100,000


*$1-2M range outsells under $1M for 2nd month.
*SoCalMLS, DQNews 6/30/12
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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 = 1,547 Distressed = 138
In Escrow Listings = 1,090 Distressed = 510
Sold from 01/01/11 = 2505 Distressed = 769

*SoCalMLS 06/30/12
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR MAY 2011 COMPARED TO MAY 2012:
City - Zip Code - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 4 - $1,813,000 - minus 51.6%
Capo Beach - 92624 - 5- $485,000 - minus 22.7%
Corona del Mar - 92625 - 16 - $1,558,000 minus 19.1%
Costa Mesa - 92626 - 32 - $469,000 - minus 8.1%
Costa Mesa - 92627 -29- $485,000 - 10.4%
Dana Point - 92629 - 23 - $715,000 - 17.2%
Laguna Beach - 92651 - 38 - $1,398,000 - 27.1%
Laguna Niguel - 92677 - 56 - $553,000 - minus 16.8%
Newport Beach - 92660 - 49 - $1,260,000 - 6.1%
Newport Beach - 92661- 4 - $3,613,000 - 157.6%
Newport Beach - 92663 - 14- $1,480,000 - minus 12.7%
Newport Coast - 92657 - 15 - $1,899,000 - minus 12%
San Clemente - 92672 -41 - $635,000 -8.7%
San Clemente - 92673 - 51 - $712,000 - 1.6%

*SoCalMLS 06/30/12

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FEBRUARY 2012 SOUTH ORANGE COUNTY REAL ESTATE MARKET CONDITIONS ORANGE COUNTY CA

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!

Scan QR Code To Search For Homes At
 HortonsInLaguna.com

AUGUST 2011 COASTAL REAL ESTATE NEWS FOR ORANGE COUNTY CA

                                                                           
SOUTHLAND HOME SALES INCREASE, MEDIAN PRICES HIGHEST THIS YEAR

SoCal home sales last month shot up more than usual from May to the highest level for any month since June 2010, when the market got its last big boost from homebuyer tax credits. Sales of lower-cost homes, driven by investors and first-time buyers, and even high-end sales continued to outshine traditional move-up activity in middle price ranges.

JUNE SALES: On average 6.2% since 1988. June sales have varied from a low of 18,032 in 2008 to a high of 40,156 in 2005. Among all months, June has had the highest number of sales most often - in eight of the past 23 years.

THE MARKET: Remains dysfunctional and lopsided, just somewhat less so than it was a few months or a year ago. The market mix indicates that a lot of potential buyers are either stuck, for lack of equity, or spooked and are waiting things out.

LOANS: Another large, lingering problem is the fussy mortgage market. Qualifying for a mortgage remains difficult for many, and the use of adjustable-rate and "jumbo" home purchase loans remains far below the historical norm.

LAGUNA BEACH MARKET: For July 2011 currently there are 342 homes for sale, 57 in escrow and 28 closed sales.

Sellers remember pricing of homes is important, but equally import is not 'holding out' for a certain price, you do not have this option in a buyers' market. Let your experienced, professional realtor negotiate the best price possible and accept this as the best you can obtain at this time. If you sell your property this year you are one of the lucky sellers!

*Information sources: DataQuick 7/31/11
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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 = 2,560 w/Bank Conditions = 434
In Escrow Listings = 832 w/Bank Conditions = 478
Sold from 01/01/11 = 2,476 w/Bank Conditions = 855

*SoCalMLS 07/31/11
-----------------------------------------------------------------

COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR JUNE 2011 COMPARED TO JUNE 2011:

City - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 2 - $4,400,000 - minus 20.2%
Capo Beach - 92624 - 5- $593,000 - 0.7%
Corona del Mar - 92625 - 14 - $1,897,000- 11.6%
Costa Mesa - 92626 - 24 - $485,000 - minus 8.9%

Costa Mesa - 92627 -33- $505,000 - minus 10.9%
Dana Point - 92629 - 33 - $673,000 - minus 12%
Laguna Beach - 92651 - 28 - $1,350,000 - 4.9%
Laguna Niguel - 92677 -55 - $675,000 - 2%
Newport Beach - 92660 - 36 - $1,150,000 - 3.6%
Newport Beach - 92661- 5 - $3,308,000 - 16.1%
Newport Beach - 92663 - 7 - $1,450,000 - 11.5%
Newport Coast - 92657 - 12 - $2,929,000 - 93%
San Clemente - 92672 - 24- $597,000 - 2.8%
San Clemente - 92673 - 34 - $681,000 - minus 10.6%

*Not as many minus % compared to last year's average sale prices. DataQuickNews 07/31/2011
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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!

Scan QR Code To Visit Hortons In Laguna Website