MAY 2016 COASTAL ORANGE COUNTY REAL ESTATE NEWS

Listed byHortonsInLaguna

1070 Miramar St, Laguna Beach
www.1070Miramar.com
 Sweeping panoramic ocean and Catalina Island sunset views
from virtually every room of this beautifully remodeled and move-in-ready home.
Price Improvement to $1,355,000

O.C., L.A. and Inland Empire

Homes are Overpriced, Trulia Reports

 

Real estate website Trulia ranks Orange County, Los Angeles and the Inland Empire among the five most overvalued housing markets in the U.S.

Southern California is home to some of the most overpriced housing markets in the country. And that's taking the wind out of the recovery.

Three Southland regions ranked among the five most overvalued markets in the U.S. in a new report by real estate website Trulia. These are places where the housing costs have far outpaced growth in income.

Separately Tuesday, the closely watched S&P/Case-Shiller index reported that Los Angeles home prices inched down in January — the first monthly decline in two years.

"Southern California has seen big price increases since the bottom," said Jed Kolko, Trulia's chief economist, "without big increases in income."

March 25, 2014|By Tim Logan and Andrew Khouri

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We Hope You Had a Happy Mother's Day

In honor of Mother’s Day, the folks at Trulia found the homes of several of the most beloved moms in American film, including estimates of how much these six famous houses would cost today.

From the little yellow bungalow in Manhattan Beach, CA, where Dorothy Boyd lives in Jerry Maguire; to the on-screen Atlanta, GA, home of real-life interior designer and mom Leigh Anne Tuohy in The Blind Side.

Was your favorite on-screen mom on the list? You can read the short article here, or go straight to the list via this infographic .

To all the moms we hope you had a truly marvelous Mother's Day!



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April 2016 Sales Statistics for Laguna Beach:

243 Active Listings

54 Pending Sales  

29 Closed Sales from 4/01/16 - 4/30/16

Sales Statistics:

  4 - less than $1,000,000

14 - $1,000,000 - $2,000,000

  6 - $2,000,000 - $3,000,000

  2 - $3,000,000 - $4,000,000

  1 - $4,000,000 - $5,000,000

  2 - $6,000,000 - $7,000,000

*CRMLS 5/9/16

  

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IN ESCROW 
After Just Two Weeks on the Market
Listed by HortonsInLaguna.com
3003 Mountain View Dr, Laguna Beach
$1,695,000
www.3003MtnView.com

Thinking of Buying or Selling?

Amanda and Pamela

Committed To Your Success During

The Best Buying or Selling Experience Possible!

  

 Complimentary Market Evaluations

and Personalized Lists of Homes For Sale.

Contact Us At HortonsInLaguna.com

  

APRIL 2016 COASTAL ORANGE COUNTY REAL ESTATE NEWS

Just Listed by HortonsInLaguna
31405 Monterey St, Laguna Beach
Panoramic Ocean Views
4 bedrooms/4 baths 3100 SF
$2,395,000



In Many Markets Home Sales Are Rising
 

Sales of existing homes in the United States reached their highest level since 2006 last year. Steady home value growth has allowed many housing markets to eclipse previous records set during the housing bubble.

-- Upper price range homes are still seeing a somewhat sluggish market.

-- Home prices are up 5.8 percent from last year.

-- When a home is overpriced most buyers resist making offers not wanting to  insult the sellers. Pricing while always key is even more so in today's market. 

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Why We Are Interested in the Millennial Generation 
 

-- These 18-29 year olds are the next generation of buyers. 
 

-- Their spending is conservative and  they are saving money to pay off debt, for retirement and for buying a house. So they may be your future buyer. 
 

-- They are young professionals who prefer a turnkey home that needs little or no work. Modern homes that are cost- and energy-efficient.

Click link to read more of the Millennial News Article

 *LATimes, Market Watch 4/14/16

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March 2016 Sales Statistics for Laguna Beach:

212 Active Listings
44 Pending Sales
28 Closed Sales from 3/01/16 - 3/31/16

Sales Statistics:
7 - less than $1,000,000
11 - $1,000,000 - $2,000,000
8 - $2,000,000 - $3,000,000
5 - $3,000,000 - $4,000,000
4 - $4,000,000 - $5,000,000
1 - $5,695,000
2 - $6,000,000 - $7,000,000
1 - $19,125,000

Inventory is starting its normal creep upwards while the number of in escrow sales is about the same. Great news is the 28 closed sales in March, this is significant considering that the number of pending sales did not decrease.

 

*CRMLS 4/14/16

 

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On Broker Preview this week we thought this Laguna Beach home listed by Keller Williams to be a good buy with 3 beds/2.5 baths,  pool and ocean views. $1,595,000.                          

 

 

 

 

 

Thinking of Buying or Selling?

Click link below to contact Amanda and Pamela.

We offer Complimentary Market Evaluations

and Personalized Lists of Homes For Sale.

Visit us at:

www.HortonsInLaguna.com

APRIL 2015 COASTAL ORANGE COUNTY REAL ESTATE NEWS

Listed and In Escrow by Pamela and Amanda
Panoramic Ocean Views, Magnificent Laguna Beach Home
www.31293Ceanothus.com

Southern California Home Sales Dip Year Over Year Again; Median Prices Increase 

In February 2015 the number of homes sold in Southern California rose slightly from January but hit the lowest level for a February in seven years. The median price paid for a home inched up from January and rose year over year for the 35th consecutive month. Home prices found a floor in 2012 and since then have rapidly appreciated.

Sales: Southern California home sales have increased 0.7% between the months of January and February since 1988. The amount of sales have fallen on a year-over-year basis in 15 out of the last 17 months.

Mortgage Rates: Fell this week with lenders offering a 30-year fixed loan at an average of 3.69%. 15-year fixed mortgage fell to 2.9% from 3.06% last week. 5-year loans dropped to 2.92% Low rates could spur more home sales during the Spring buying season. It’s too early to tell if cheaper borrowing costs and recent robust job growth will ignite the housing market that slowed in the last year.

Who Are The Buyers? Buyers attracted recently are institutional investors, international buyers or some other flavor of cash buyer not constrained by income as much as traditional buyers. Eventually traditional buyers will need to play a bigger role in the housing market for the recovery to maintain its momentum.

Sellers: The low inventory makes this Spring an incredible to sell and move on with your dream. Call  Pamela and Amanda for selling your home!

Buyers: This is a great time to buy, interest rates are still at an all-time low so now your dream is more affordable than ever. For homes available in the location where you'd like to buy, contact Pamela and Amanda!

*Sources CoreLogic, CAR 2/25/15

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MARCH 2015 SALES STATISTICS FOR LAGUNA BEACH:

 203 Active listings
 70 In Escrow
 41 Closed Sales 3/1/2015 – 3/31/2015

Sales for March 2015:
4 sales under $1 million
20 sales $1-2 million
9 sales $2-3 million

6 sales $3-4 million
1 sale for $4,050,000
1 sale for $10,500,000

 *Source CRMLS 3/31/15
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR FEBRUARY 2015 COMPARED TO FEBRUARY 2014:

Balboa Island - 92662 - 1 - $2,595,000: +29.8%
Capistrano Beach - 92624 - 4 - $1,925,000: +200.8%
Corona del Mar - 92625 - 14 - $1,719,000: -4.1%
Costa Mesa - 92626 - 22- $618,000: +25.5%
Costa Mesa - 92627 - 15 - $785,000: +58.6%
Dana Point - 92629 - 21- $692,000: +0.8%
Laguna Beach - 92651 - 24 - $1,854,000: -0.6%
Laguna Niguel - 92677 - 48 - $850,000: +9.0%
Newport Beach - 92660 - 18 - $1,650,000: +6.7%
Newport Beach – 92661 – 5 - $2,800,000: +12%
Newport Beach – 92663 – 15 - $1,615,000: +15.4%
Newport Coast – 92657 – 12 - $2,845,000 +19.8%
San Clemente – 92672 – 23 - $720,000: -4.6%
San Clemente – 92673 – 22 - $785,000: +2.6%

*Source DQNews/LATimes 3/25/15

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JANUARY 2015 COASTAL SOUTH ORANGE COUNTY REAL ESTATE NEWS

  

Check Out Our Oceanfront Listing 
Click to view 16531 S Pacific Ave, Sunset Beach

 

Prediction for 2015 - Biggest Year for Home Sales Since 2007

Freddie Mac (Federal Home Loan Mortgage Corporation) has predicted that 2015 will see the highest level of home sales in the U.S. since 2007. This prediction is based on five key consensus predictions for 2014, how they fared, and how they will affect housing and the economy next year. In addition to home sales, the four other areas examined were mortgage originations, home values, rental market, and mortgage rates.

In 2014, home value gains grew at a rate of 4.5 percent, and in 2015, they are expected to increase by 3.0 percent. Rental vacancies fell to their lowest level since 2000 in the last year, and 30-year fixed mortgage rates are expected to average 4.4 percent in 2015 after hovering just below 4 percent in December. 

Low oil prices have been a boon for businesses and consumers alike. Economic growth has picked up over the final nine months of 2014. It is expected the housing market will continue to strengthen with home sales and rental markets continuing to display low vacancy rates and the highest level of new apartment completions in 25 years.

What Is Your Home Worth?
Homeowners on average underestimate the value of their homes 1.6% compared with appraisers' valuations. At the peak of the market in 2005 and 2006, appraisals often came in below owners' estimates, in part because prices were spiraling upward at double-digit rates in overheated markets. In the recession years following the bust, the gap between what owners believed their homes to be worth and appraisers' valuations gradually narrowed. More recently, the trend has shifted to slight underestimates by owners.

Why are owners a little behind on pricing? This is attributed it in part to the fact that owners tend to lag behind market trends. Appraisers are looking at the market all the time, and owners, especially those who are seeking to refinance, are not as likely to stay on top of month-to-month changes.

*Source: CAR 12/22/14
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DECEMBER 2014 SALES STATISTICS FOR LAGUNA BEACH: 

159 active listings
40 in escrow
31 closed sales from 12/01/14 - 12/31/14

31 Sales for December 2014:
4 sales under $1 million
14 sales $1-2 million
10 sales $2-4 million
1 sale for $4,050,000

1 sale for $5,700,000

1 sale for $9,500,000

*Source CRMLS 12/31/14

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MEDIAN SALES PRICE FOR COASTAL ZIP CODES FOR DECEMBER 2014 COMPARED TO DECEMBER 2013
 

Balboa Island - 92662 - 0 - n/a – n/a

Capistrano Beach - 92624 - 6 - $787,000 : 14.8%
Corona del Mar - 92625 - 9 - $1,600,000 : -27.3%
Costa Mesa - 92626 - 34 - $648,000 : 14.7%
Costa Mesa - 92627 - 20 - $775,000 : 15.4%
Dana Point - 92629 - 16- $847,000 : 4.8%
Laguna Beach - 92651 - 33 - $1,565,000 : 14.1%
Laguna Niguel - 92677 - 51 - $820,000 : 16.3%
Newport Beach - 92660 - 33 - $1,585,000 : -7.9%
Newport Beach - 92661 - 4 - $1,680,000 : -43.1%
Newport Beach - 92663 - 9 - $1,827,000 : 38.9%
Newport Coast - 92657 - 9 - $2,160,000 : -32.0%
San Clemente - 92672 - 28 - $777,000 : -12.2%
San Clemente - 92673 - 9 - $853,000 : 6.6%

*Source DQNews/LATimes 12/26/14

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Put Our Expertise To Work For You...
Licensed Real Estate Brokers Specializing
In the Coastal Real Estate Market

Click Here to Visit Pamela and Amanda's Website

 



Pamela and Amanda -
Nominees Orange County Business Journal Women of the Year!

JULY 2013 SOUTH ORANGE COUNTY REAL ESTATE

Take a Ride on a Laguna Beach Free Trolley for Enjoying Summer Events!



SOUTHLAND MAY HOME SALES HIGHEST IN 7 YEARS; MEDIAN PRICE HITS 5-YEAR HIGH

Yes, the real estate market has followed its natural course of 7-10 years for the market to cycle. We fail understand why everyone is so surprised. The market has a cyclical length of 6-10 years. The cycle started in 1997 when sales started to increase after the down market of the 90's. From 1997 to mid 2006 were the boom years. Then the market tanked due to the harrowing lending fiasco leading to more foreclosures and short sales than have ever been seen before and in a much larger and more intense decrease in price than in any prior years.

Finally when the distress properties were mostly sold for much less that had been paid, equity sellers return to the market as prices start to increase and they can now sell for a profit. So it shouldn't be such a surprise that the median price and increase in prices is occurring in every market; with the hardest hit markets having the best of recoveries.

The Recovering Economy: In a sign of real progress, employers are creating jobs faster than the labor market is growing. Just a few years ago, California was hemorrhaging tens of thousands of jobs and had one of the highest unemployment rates.

The Million-Dollar Market: The number of homes sold for a million dollars has risen to a high not seen since 2007, fueled by a recovering economy, rising home prices and a very key point - a record number of cash purchases.

*Source DQNews 6/30/13
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JUNE STATISTICS FOR LAGUNA BEACH:

217 active listings
57 in escrow
38 closed sales from 6/01/13 - 6/30/13

38 Sales for JUNE 2013:
7 sales under $1 million
20 sales $1-2 million
6 sales $2-3 million
1 sale $3,950.00
3 sales $6-7 million
1 sale $7,500,000

*Source CRMLS 6/30/13
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR MAY 2012 COMPARED TO MAY 2013:

Balboa Island - 92662 - 4 - $1,350,000 -minus 25%
Capo Beach - 92624 - 8 - $1,450,000 - 199%
Corona del Mar - 92625 - 15 - $2,000,000 - 28.4%
Costa Mesa - 92626 - 34- $610,000 - 30.2%
Costa Mesa - 92627 - 36 - $650,000 - 34%
Dana Point - 92629 - 36 - $1,550,000 - 40.6%
Laguna Beach - 92651 - 55 - $1,550,000 - 11.3%
Laguna Niguel - 92677 - 77 - $730,000 - 32.1%
Newport Beach - 92660 - 51 - $1,500,000 - 19%
Newport Beach - 92661 - 10 - $3,425,000 - minus 5.2%
Newport Beach - 92663- 18 - $1,420,000 - minus 4.1%
Newport Coast - 92657 - 28 - $2,250,000 - 18.5%
San Clemente - 92672 - 36 - $767,000 - 20.8%
San Clemente - 92673 - 43 - $808,000 - 13.4%

*Source DataQuickNews/LATimes 6/30/13

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16 Homes Sold in 2013 by Pamela and Amanda

Let us put our real estate expertise to work for you whether Buying or Selling we are Coastal Orange County Real Estate Experts

Click Here to Visit Hortons In Laguna Website

 

 

 

JUNE 2013 SOUTH ORANGE COUNTY REAL ESTATE

Heisler Park
Great for a stroll along the oceanfront, bring your picnic basket!

 

HIGHEST APRIL HOME SALES SINCE '06; MEDIAN PRICE NEARS 5-YR HIGH

Southern California homes sold at the fastest pace for an April in seven years amid the release of pent-up demand for move-up homes and high levels of investor purchases.

Median Sale Price: Rose to a 58-month high, reflecting both home price appreciation as well as the simultaneous plunge in foreclosure resales and surge in mid- to up-market buying.

Foreclosures and Short Sales: Made up only 12.4% of all sales and short sales made up only 17.7%. Last month's figure was the lowest since it was 10.0% in August 2007. In the current cycle, foreclosure resales hit a high of 56.7% in February 2009.

*Source DQNews 5/14/13

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MAY STATISTICS FOR LAGUNA BEACH:

219 active listings
62 in escrow
44 closed sales from 5/01/13 - 5/31/13

44 Sales for May 2013:
7 sales under $1 million
23 sales $1-2 million
6 sales $2-3 million2
2 sales $3-4 million
1 sale for $4.6 million
3 sales $6-7 million
1 sale $8,100,0001
1 sale for $13,650,000

*As inventory of under $1M listings decreases, the over $1M listings show increased sales.Someone said recently, "The new $1million is now $2Million.

*Source CRMLS 5/31/13
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR APRIL 2012 COMPARED TO APRIL 2013:

Balboa Island - 92662 - 6 - $1,650,000 - 26.9%
Capo Beach - 92624 - 7 - $853,000 - 2.9%
Corona del Mar - 92625 - 16 - $2,100,000 - 35.5%
Costa Mesa - 92626 - 40- $595,000 - 26.6%
Costa Mesa - 92627 - 25 - $760,000 - 38.6%
Dana Point - 92629 - 32 - $876,000 - 32.9%
Laguna Beach - 92651 - 40 - $1,388,000 - 12.8%
Laguna Niguel - 92677 - 88 - $740,000 - 20.3%
Newport Beach - 92660 - 58 - $1,599,000 - 31.1%
Newport Beach - 92661 -4 - $1,700,000 - 18.5%
Newport Beach - 92663- 17 - $1,900,000 - 68.1%
Newport Coast - 92657 - 20 - $2,313,000 - minus 14.4%
San Clemente - 92672 - 29 - $647,000 - minus 5.5%
San Clemente - 92673 - 51 - $825,000 - 20.4%

*Only 2 zip code with minus %, and all median prices are up along with sales median sale prices.
*Source DataQuickNews/LATimes 5/24/13

 

 

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APRIL 2013 SOUTH ORANGE COUNTY REAL ESTATE

Sunset at Treasure Island/Montage
Taken by Amanda 3/28/13

 

O.C. HOME LISTINGS AND DISTRESS SALES NEAR 9-YEAR LOW...

The number of homes for sale in Orange County last week fell to their second-lowest level in numbers dating back nearly nine years. As of March 14th, 3,183 Orange County homes were listed for sale in the Realtor-run Multiple Listing Service, or MLS. The only time in the period that listings were lower was on Jan. 3, when there were 22 fewer homes for sale. A year earlier, Orange County had 7,000 homes for sale. The average in figures dating back to June 2004 is 10,000 listings.

 

Orange County had just 226 distressed property listings - foreclosures and homes selling "short" of the amount needed to pay off the mortgage. That's the lowest number in the past nine years, accounting for 7.1 percent of all listings. A year ago, the county had nearly 2,200 distressed listings, or 30.4 percent of the market. The market shed about a third of its distressed listings in the past month. The current market time needed to sell all the inventory at the current sales pace - also fell to a nine-year low: 1.11 months, or 33 days. The average is four months and 13 days.

*USNational Title 3/31/13
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MARCH STATISTICS FOR LAGUNA BEACH:
1809 active listings
67 in escrow
35 closed sales from 3/01/13 - 3/31/13

35 Sales for March 2013:
11 sales under $1 million
14 sales $1-2 million
4 sales $2-3 million
4 sales $3-4 million
1 sale $9,000,000
1 sale $11,000,000

*CRMLS 3/31/13
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR FEBRUARY 2012 COMPARED TO FEBRUARY 2013:
Balboa Island - 92662 - 1 - $1,600,000 - minus 11.1%
Capo Beach - 92624 - 8 - $713,000 - 14.5%
Corona del Mar - 92625 - 9 - $1,663,000 - minus 16.9%
Costa Mesa - 92626 - 29- $570,000 - minus 16.9%
Costa Mesa - 92627 - 25 - $617,000 - 24.2%
Dana Point - 92629 - 19 - $829,000 - 41.3%
Laguna Beach - 92651 - 31 - $1,160,000 - 19%
Laguna Niguel - 92677 - 55 - $660,000 - 13.7%
Newport Beach - 92660 - 24 - $943,000 - minus 22.7%
Newport Beach - 92661 - 2 - $1,413,000 - minus 58.2%
Newport Beach - 92663- 11 - $1,385,000 - 2.6%
Newport Coast - 92657 - 13 - $1,850,000 - 19.2%
San Clemente - 92672 - 20 - $540,000 - 2.9%
San Clemente - 92673 - 24 - $717,000 - 7.8%

*DataQuickNews/LATimes 3/30/13

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