CALIFORNIA'S HOME INVENTORY SINKS TO A 5-YEAR LOW
UNSOLD INVENTORY: California's unsold inventory is tracked by the Unsold Inventory Index (UII), This index indicates how long it would take to sell all current homes on the market. The index estimates it would take 3.8 months in today's market to sell homes on the marekt. This is the lowest level in five years, as in December 2008 the index was at 5.6 months to sell all existing homes.
FED LEAVES KEY RATE UNCHANGED - The Federal Reserve announced it will maintain the federal funds rate in the 0% to 0.25% range. Economic conditions warrant these exceptionally low levels of the federal funds rate for an extended period of time.
ECONOMIC ACTIVIEY - Continues to strengthen and deterioration in the labor market is abating.
THE MARKET: Buyers this may be the low point of pricing and with interest rates low. Don't miss out on buying your dream home before we see a Sellers' Market.
*CAR 1/29/2010
------------------------------------------------------------------------
COASTAL AREA SALES DATA AND DISTRESS SALES STATISTICS OF 2009 FROM 01/01/09 FOR:
Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente
Active Listings = 2031, w/Bank Conditions = 396
In Escrow Listings = 904, w/Bank Conditions = 573
Sold from 01/01/09 = 3944, w/Bank Conditions = 1254
*MLS 12/31/2010
------------------------------------------------------------------------
COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR NOVEMBER 2008 COMPARED TO NOVEMBER 2009:
City - # Sold - Median Sale Price - % change from 2008:
Balboa Island - 92662 - 1 - 1,650,000 - minus 6.3%
Capo Beach - 92624 - 8 - $665,000 - + 22.6%%
Corona del Mar - 92625 - 4- $2,925,000 - + 3%
Costa Mesa - 92626 - 23- $516,000 - + 1.2%
Costa Mesa - 92627 - 18 - $556,000 - minus 4.1%
Dana Point - 92629 - 14 - $790,000 - +23.2%
Laguna Beach - 92651 - 34 - $1,293,000 - + 3.8%
Laguna Niguel - 92677 - 415 - $690,000 - + 3.8%
Newport Beach - 92660 - 36 - $1,085,000 - minus 21.7%
Newport Beach - 92661- 2 - $2,163,000 - + 10.9%
Newport Beach - 92663 - 11 - $940,000 - minus 21.7%
Newport Coast - 92657 - 14 - $1,975,000 - +16.2%
San Clemente - 92672 - 21 - $810,000 - 10.2%
San Clemente - 92673 - 30 - $685,000 - + 4.6%
Percentage change is compared to the same month of the prior year. DQNews/LATimes, 01/31/2010
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! For More Information:
Visit My Web Site
View My Newsletter
Ask Me A Question
Sunday, January 31, 2010
Sunday, December 27, 2009
JANUARY 2010 SOUTH ORANGE COUNTY CA COASTAL REAL ESTATE NEWS
SALES AND PRICES UP IN SO CAL MARKET
Southern California's housing market continued its step-by-step climb up from the January-February bottom as both sales and prices saw gains last month.
Sales have been stoked in recent months by several factors: A federal tax credit for first-time buyers, which had been set to expire last month before it was extended and expanded; robust investor activity, especially inland; super-low mortgage rates; the availability of government-insured, low-down-payment mortgages for first-time buyers; and the allure of a potential "deal" on a distressed property.
"This market is still really lopsided. Foreclosures and short sales are huge factors. There's still not a lot of discretionary buying and selling outside the more affordable markets. Anybody who can sit tight is doing just that. The market won't fully rebalance itself until financing becomes available for the higher price ranges."
JANUARY 2010 MONEY CALENDAR
1 - Parents of college-bound high school seniors: Fill out Free Application for Federal Student Aid (FAFSA).
4 - First trading day of 2010.
7 - Set financial goals, update your budget and resolve to pay off holiday debt.
8 - Convert traditional IRA to a Roth; income limits for conversions are gone.
15 - Estimated federal taxes for the fourth quarter of 2009 are due.
21 - Seniors: If you're over 70.5, talk to your IRA administrators about resuming regular required minimum distribution payments.
26 - Federal Open Market Committee meets to review interest rates.
*John Walsh, MDA DataQuick President, 12/15/09
*Sandstone Financial, 12/28/09
------------------------------------------------------------------------
COASTAL AREA SALES DATA AND DISTRESS SALES STATISTICS OF 2009 FROM 01/01/09
FOR: Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente
Active Listings = 2028, w/Bank Conditions = 396
In Escrow Listings = 863, w/Bank Conditions = 551
Sold from 01/01/09 = 3837, w/Bank Conditions = 1229
*MLS 12/27/09
------------------------------------------------------------------------
COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR NOVEMBER 2008 COMPARED TO NOVEMBER 2009:
City - # Sold - Median Sale Price - % change from 2008:
Balboa Island - 92662 - 1 - 1,650,000 - minus 6.3%
Capo Beach - 92624 - 8 - $665,000 - + 22.6%%
Corona del Mar - 92625 - 4- $2,925,000 - 3%
Costa Mesa - 92626 - 23- $516,000 - +1.2%
Costa Mesa - 92627 - 20 - $580,000 - + 16.3%
Dana Point - 92629 - 12 - $641,000 - minus 19.9%
Laguna Beach - 92651 - 28 - $1,000,000 - minus 21%
Laguna Niguel - 92677 - 45 - $665,000 - minus .9%
Newport Beach - 92660 - 27 - $1,215,000 - minus .8%
Newport Beach - 92661- 4 - $1,950,000 - minus 43.5%
Newport Beach - 92663 - 11 - $1,028,000 - minus 56.3%
Newport Coast - 92657 - 13 - $1,699,000 - 22%
San Clemente - 92672 - 16 - $710,000 - 9.2%
San Clemente - 92673 - 27 - $655,000 - minus 3%
Percentage change is compared to the same month of the prior year.
DQNews/LATimes, 12/27/09
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!
For More Information:
Visit My Web Site
View My Newsletter
Ask Me A Question
Southern California's housing market continued its step-by-step climb up from the January-February bottom as both sales and prices saw gains last month.
Sales have been stoked in recent months by several factors: A federal tax credit for first-time buyers, which had been set to expire last month before it was extended and expanded; robust investor activity, especially inland; super-low mortgage rates; the availability of government-insured, low-down-payment mortgages for first-time buyers; and the allure of a potential "deal" on a distressed property.
"This market is still really lopsided. Foreclosures and short sales are huge factors. There's still not a lot of discretionary buying and selling outside the more affordable markets. Anybody who can sit tight is doing just that. The market won't fully rebalance itself until financing becomes available for the higher price ranges."
JANUARY 2010 MONEY CALENDAR
1 - Parents of college-bound high school seniors: Fill out Free Application for Federal Student Aid (FAFSA).
4 - First trading day of 2010.
7 - Set financial goals, update your budget and resolve to pay off holiday debt.
8 - Convert traditional IRA to a Roth; income limits for conversions are gone.
15 - Estimated federal taxes for the fourth quarter of 2009 are due.
21 - Seniors: If you're over 70.5, talk to your IRA administrators about resuming regular required minimum distribution payments.
26 - Federal Open Market Committee meets to review interest rates.
*John Walsh, MDA DataQuick President, 12/15/09
*Sandstone Financial, 12/28/09
------------------------------------------------------------------------
COASTAL AREA SALES DATA AND DISTRESS SALES STATISTICS OF 2009 FROM 01/01/09
FOR: Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente
Active Listings = 2028, w/Bank Conditions = 396
In Escrow Listings = 863, w/Bank Conditions = 551
Sold from 01/01/09 = 3837, w/Bank Conditions = 1229
*MLS 12/27/09
------------------------------------------------------------------------
COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR NOVEMBER 2008 COMPARED TO NOVEMBER 2009:
City - # Sold - Median Sale Price - % change from 2008:
Balboa Island - 92662 - 1 - 1,650,000 - minus 6.3%
Capo Beach - 92624 - 8 - $665,000 - + 22.6%%
Corona del Mar - 92625 - 4- $2,925,000 - 3%
Costa Mesa - 92626 - 23- $516,000 - +1.2%
Costa Mesa - 92627 - 20 - $580,000 - + 16.3%
Dana Point - 92629 - 12 - $641,000 - minus 19.9%
Laguna Beach - 92651 - 28 - $1,000,000 - minus 21%
Laguna Niguel - 92677 - 45 - $665,000 - minus .9%
Newport Beach - 92660 - 27 - $1,215,000 - minus .8%
Newport Beach - 92661- 4 - $1,950,000 - minus 43.5%
Newport Beach - 92663 - 11 - $1,028,000 - minus 56.3%
Newport Coast - 92657 - 13 - $1,699,000 - 22%
San Clemente - 92672 - 16 - $710,000 - 9.2%
San Clemente - 92673 - 27 - $655,000 - minus 3%
Percentage change is compared to the same month of the prior year.
DQNews/LATimes, 12/27/09
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!
For More Information:
Visit My Web Site
View My Newsletter
Ask Me A Question
Monday, November 30, 2009
DECEMBER 2009 SOUTH ORANGE COUNTY CA COASTAL REAL ESTATE NEWS
OCTOBER 2009 - THREE YEAR GAIN IN SALES
THE ECONOMY: Home prices improved in the third quarter of 2009, posting their second quarter-over-quarter gain in three years, according to the S&P/Case-Shiller U.S. National Home Price Index. Prices have increased by 1% overall.
LENDING: US banks' lending is at 2.8%, this is the lowest amount of loans since 1984. This makes the fifth consecutive quarter in which banks have reduced lending, the Federal Deposit Insurance Corp. reported on 11/25/09.
LOAN MODIFIATION UPDATE: Borrowers who are less than 20% underwater are likely to maintain their mortgage if their loan is modified and the payments reduced," said an official with Citigroup's mortgage unit. "Beyond 120%, the most effective modification is a loan restructuring, including a principal reduction."
LOCALLY: In the coastal cities some increases are seen in sales prices compared to 2008 with 5 cities having reported increases. See the statistics chart below.
WHAT'S TO COME: Locally closed sales are nearing 2005 levels with October '05 having 30 closed sales and October '09 with 27. In Escrow listings passed the '04 amount of 71 at 74. Inventory however is up, October '05 had 209 and '09 was at 351. If you would like a full copy of year-to-year statistics from 2004-2009, please call or send Pamela an email request anytime and we'll be glad to give you this information!
*CAR, LATImes 11/30/09
------------------------------------------------------------------------
COASTAL AREA SALES DATA AND DISTRESS SALES STATISTICS OF 2009 FROM 01/01/09
FOR: Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente
Active Listings = 2,172, w/Bank Conditions = 390
In Escrow Listings = 943, w/Bank Conditions = 565
Sold from 01/01/09 = 3,502, w/Bank Conditions = 1125
*MLS 11/28/2009
------------------------------------------------------------------------
COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR OCTOBER 2008 COMPARED TO OCTOBER 2009:
City - # Sold - Median Sale Price - % change from 2008:
Balboa Island - 92662 - N/A - N/A - N/A
Capo Beach - 92624 - 5 - $573,000 - + 2%
Corona del Mar - 92625 - 13- $1,378,000 - minus 34.9%
Costa Mesa - 92626 - 36- $534,000 - +11%
Costa Mesa - 92627 - 26 - $630,000 - + 15.6%
Dana Point - 92629 - 15 - $800,000 - +8%
Laguna Beach - 92651 - 27 - $1,195,000 - minus 36.4%
Laguna Niguel - 92677 - 47 - $623,000 - minus 10.2%
Newport Beach - 92660 - 29 - $968,000 - minus 24.2%
Newport Beach - 92661- 3 - $3,250,000 - + 78.1%
Newport Beach - 92663 - 16 - $1,100,000 - minus 34.3%
Newport Coast - 92657 - 17 - $2,200,000 - minus 4.3%
San Clemente - 92672 - 25 - $598,000 - minus 19.7%
San Clemente - 92673 - 23 - $690,000 - minus 6.8%
Percentage change is compared to the same month of the prior year.
*DQNews/LATimes, 11/30/09
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!
For More Information:
Visit My Web Site
View My Newsletter
Ask Me A Question
THE ECONOMY: Home prices improved in the third quarter of 2009, posting their second quarter-over-quarter gain in three years, according to the S&P/Case-Shiller U.S. National Home Price Index. Prices have increased by 1% overall.
LENDING: US banks' lending is at 2.8%, this is the lowest amount of loans since 1984. This makes the fifth consecutive quarter in which banks have reduced lending, the Federal Deposit Insurance Corp. reported on 11/25/09.
LOAN MODIFIATION UPDATE: Borrowers who are less than 20% underwater are likely to maintain their mortgage if their loan is modified and the payments reduced," said an official with Citigroup's mortgage unit. "Beyond 120%, the most effective modification is a loan restructuring, including a principal reduction."
LOCALLY: In the coastal cities some increases are seen in sales prices compared to 2008 with 5 cities having reported increases. See the statistics chart below.
WHAT'S TO COME: Locally closed sales are nearing 2005 levels with October '05 having 30 closed sales and October '09 with 27. In Escrow listings passed the '04 amount of 71 at 74. Inventory however is up, October '05 had 209 and '09 was at 351. If you would like a full copy of year-to-year statistics from 2004-2009, please call or send Pamela an email request anytime and we'll be glad to give you this information!
*CAR, LATImes 11/30/09
------------------------------------------------------------------------
COASTAL AREA SALES DATA AND DISTRESS SALES STATISTICS OF 2009 FROM 01/01/09
FOR: Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente
Active Listings = 2,172, w/Bank Conditions = 390
In Escrow Listings = 943, w/Bank Conditions = 565
Sold from 01/01/09 = 3,502, w/Bank Conditions = 1125
*MLS 11/28/2009
------------------------------------------------------------------------
COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR OCTOBER 2008 COMPARED TO OCTOBER 2009:
City - # Sold - Median Sale Price - % change from 2008:
Balboa Island - 92662 - N/A - N/A - N/A
Capo Beach - 92624 - 5 - $573,000 - + 2%
Corona del Mar - 92625 - 13- $1,378,000 - minus 34.9%
Costa Mesa - 92626 - 36- $534,000 - +11%
Costa Mesa - 92627 - 26 - $630,000 - + 15.6%
Dana Point - 92629 - 15 - $800,000 - +8%
Laguna Beach - 92651 - 27 - $1,195,000 - minus 36.4%
Laguna Niguel - 92677 - 47 - $623,000 - minus 10.2%
Newport Beach - 92660 - 29 - $968,000 - minus 24.2%
Newport Beach - 92661- 3 - $3,250,000 - + 78.1%
Newport Beach - 92663 - 16 - $1,100,000 - minus 34.3%
Newport Coast - 92657 - 17 - $2,200,000 - minus 4.3%
San Clemente - 92672 - 25 - $598,000 - minus 19.7%
San Clemente - 92673 - 23 - $690,000 - minus 6.8%
Percentage change is compared to the same month of the prior year.
*DQNews/LATimes, 11/30/09
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!
For More Information:
Visit My Web Site
View My Newsletter
Ask Me A Question
Saturday, October 31, 2009
NOVEMBER 2009 SOUTH ORANGE COUNTY CA COASTAL REAL ESTATE NEWS
HOME SALES UP, PRICES REMAIN LOW
THE ECONOMY: Has expanded at an annual rate of 3.5% in the third quarter marking the end of the worst recession since World War II.
THE MARKET: Home sales have risen 2.1% in September in California compared with the same period a year ago, while the median price of an existing home declined 7.3%. Even though the current growth forecasts for the next 5-6 years are for a robust economy, it is not expected to see rapidly rising home prices but slow upward movement in prices as sales increase and inventory declines.
For local market statistics the price decreases for September 2007 are lessening. See the "Median Sales By Zip Code" at the end of this article. For the first time some cities are showing increases in sale price compared to the same period last year.
BUYERS: Important News For Buyers - The Federal First-Time Buyer's Tax Credit for up to $8,000 has been extended. Repeat buyers who have owned their homes for at least 5 years are offered a reduced credit of up to $6,500.
SELLERS: Foreclosures no longer constitute most sales, they do however continue to define the market because all sellers need to compete with those low-priced properties. 40% of Southern California homes sold were foreclosures down from a previous high of 57% in February.
INTEREST RATES: Are at their lowest in years as a result of the Federal Reserve campaign to keep credit flowing.*CAR, 10/28/09, LATImes 10/30/09
------------------------------------------------------------------------
COASTAL AREA SALES DATA AND DISTRESS SALES STATISTICS OF 2009 FROM 01/01/09 FOR: Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente
Active Listings = 2,342, w/Bank Conditions = 373
In Escrow Listings = 981, w/Bank Conditions = 555
Sold from 01/01/09 = 3123, w/Bank Conditions = 1025
*MLS 10/28/2009
------------------------------------------------------------------------
COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR SEPTEMBER 2008 COMPARED TO SEPTEMBER 2009:
City - # Sold - Median Sale Price - % change from 2008:
Balboa Island - 92662 - 3 - $2,754,000 - 67%
Capo Beach - 92624 - 3 - $619,000 - minus 54.0%
Corona del Mar - 92625 - 13- $1,972,000 - 27%
Costa Mesa - 92626 - 25- $565,000 - 1%
Costa Mesa - 92627 - 36 - $458,000 - minus 6%
Dana Point - 92629 - 20 - $691,000 - minus 3.8%
Laguna Beach - 92651 - 29 - $1,355,000 - minus 3%
Laguna Niguel - 92677 - 54 - $680,000 - 5%
Newport Beach - 92660 - 27 - $1,130,000 - minus 31%
Newport Beach - 92661- 8 - $1,695,000 - minus 81%
Newport Beach - 92663 - 15 - $1,285,000 - minus 1%
Newport Coast - 92657 - 14 - $1,800,000 - minus 46%
San Clemente - 92672 - 27 - $720,000 - minus 8%
San Clemente - 92673 - 34 - $715,000 - minus 11%
Percentage change is compared to the same month of the prior year.
*DQNews/LATimes, 10/25/09
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 her partner Amanda Horton look forward to helping you with your real estate needs in this picturesque area!
THE ECONOMY: Has expanded at an annual rate of 3.5% in the third quarter marking the end of the worst recession since World War II.
THE MARKET: Home sales have risen 2.1% in September in California compared with the same period a year ago, while the median price of an existing home declined 7.3%. Even though the current growth forecasts for the next 5-6 years are for a robust economy, it is not expected to see rapidly rising home prices but slow upward movement in prices as sales increase and inventory declines.
For local market statistics the price decreases for September 2007 are lessening. See the "Median Sales By Zip Code" at the end of this article. For the first time some cities are showing increases in sale price compared to the same period last year.
BUYERS: Important News For Buyers - The Federal First-Time Buyer's Tax Credit for up to $8,000 has been extended. Repeat buyers who have owned their homes for at least 5 years are offered a reduced credit of up to $6,500.
SELLERS: Foreclosures no longer constitute most sales, they do however continue to define the market because all sellers need to compete with those low-priced properties. 40% of Southern California homes sold were foreclosures down from a previous high of 57% in February.
INTEREST RATES: Are at their lowest in years as a result of the Federal Reserve campaign to keep credit flowing.*CAR, 10/28/09, LATImes 10/30/09
------------------------------------------------------------------------
COASTAL AREA SALES DATA AND DISTRESS SALES STATISTICS OF 2009 FROM 01/01/09 FOR: Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente
Active Listings = 2,342, w/Bank Conditions = 373
In Escrow Listings = 981, w/Bank Conditions = 555
Sold from 01/01/09 = 3123, w/Bank Conditions = 1025
*MLS 10/28/2009
------------------------------------------------------------------------
COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR SEPTEMBER 2008 COMPARED TO SEPTEMBER 2009:
City - # Sold - Median Sale Price - % change from 2008:
Balboa Island - 92662 - 3 - $2,754,000 - 67%
Capo Beach - 92624 - 3 - $619,000 - minus 54.0%
Corona del Mar - 92625 - 13- $1,972,000 - 27%
Costa Mesa - 92626 - 25- $565,000 - 1%
Costa Mesa - 92627 - 36 - $458,000 - minus 6%
Dana Point - 92629 - 20 - $691,000 - minus 3.8%
Laguna Beach - 92651 - 29 - $1,355,000 - minus 3%
Laguna Niguel - 92677 - 54 - $680,000 - 5%
Newport Beach - 92660 - 27 - $1,130,000 - minus 31%
Newport Beach - 92661- 8 - $1,695,000 - minus 81%
Newport Beach - 92663 - 15 - $1,285,000 - minus 1%
Newport Coast - 92657 - 14 - $1,800,000 - minus 46%
San Clemente - 92672 - 27 - $720,000 - minus 8%
San Clemente - 92673 - 34 - $715,000 - minus 11%
Percentage change is compared to the same month of the prior year.
*DQNews/LATimes, 10/25/09
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 her partner Amanda Horton look forward to helping you with your real estate needs in this picturesque area!
Monday, September 28, 2009
OCTOBER 2009 SOUTH ORANGE COUNTY CA COASTAL REAL ESTATE NEWS
AUGUST HOME SALES INCREASED
THE MARKET: While homes sales increased the medium home price declined by 6.9%. This may seem like bad news, it is not. As with any recovering market first sales must increase for inventory to decrease. When there is a demand for inventory (less inventory) then prices will begin to increase. For example, In 1997 the home sales began to increase over the decline of the 90's with sales prices increasing steadily through July 2007.
BUYERS: First-time buyers continue to be the driving force in home sales throughout the state," said C.A.R. President James Liptak. "The federal tax credit, which has helped more than 1.4 million people become first-time homeowners nationally, is set to expire Nov. 30. It is expected that the tax credit, which is a proven economic stimulus that clearly is working, should be extended through 2010 and expanded to include all home buyers."
SALES: "Sales have exceeded 500,000 homes for 12 consecutive months, and now are 38% higher on a year-to-date basis compared with 2008," said Appleton-Young. "Sales continue to be boosted by the large number of distressed properties on the market, along with favorable interest rates."
*CAR, 9/28/09
------------------------------------------------------------------------
COASTAL AREA SALES DATA AND DISTRESS SALES STATISTICS OF 2009 FROM 01/01/09 FOR:
Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente
Active Listings = 2,435, w/Bank Conditions = 374
In Escrow Listings = 921, w/Bank Conditions = 511
Sold from 01/01/09 = 2,751, w/Bank Conditions = 911
*MLS 09/28/2009
------------------------------------------------------------------------
COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR JULY 2008 COMPARED TO JULY 2009:
City - # Sold - Median Sale Price - % change from 2008:
Balboa Island - 92662 - 0 - N/A - N/A - N/A
Capo Beach - 92624 - 3 - $530,000 - minus 15.9%
Corona del Mar - 92625 - 12- $1,843,000 - minus 10.0%
Costa Mesa - 92626 - 30- $495,000 - minus 10%
Costa Mesa - 92627 - 30 - $595,000 - 17.2%
Dana Point - 92629 - 12 - $745,000 - minus 3.8%
Laguna Beach - 92651 - 26 - $1,145,000 - minus 33.8%
Laguna Niguel - 92677 - 45 - $695,000 - 8.2%
Newport Beach - 92660 - 21 - $1,253,000 - minus 20.1%
Newport Beach - 92661- 2 - $4,300,000 - 106.2%
Newport Beach - 92663 - 12 - $1,130,000 - minus 51.1%
Newport Coast - 92657 - 14 - $1,575,000 - minus 7.9%
San Clemente - 92672 - 30 - $595,000 - minus 36.5%
San Clemente - 92673 - 28 - $740,000 - minus 10.2%
Percentage change is compared to the same month of the prior year.
*DQNews/LATimes, 09/28/09
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!
THE MARKET: While homes sales increased the medium home price declined by 6.9%. This may seem like bad news, it is not. As with any recovering market first sales must increase for inventory to decrease. When there is a demand for inventory (less inventory) then prices will begin to increase. For example, In 1997 the home sales began to increase over the decline of the 90's with sales prices increasing steadily through July 2007.
BUYERS: First-time buyers continue to be the driving force in home sales throughout the state," said C.A.R. President James Liptak. "The federal tax credit, which has helped more than 1.4 million people become first-time homeowners nationally, is set to expire Nov. 30. It is expected that the tax credit, which is a proven economic stimulus that clearly is working, should be extended through 2010 and expanded to include all home buyers."
SALES: "Sales have exceeded 500,000 homes for 12 consecutive months, and now are 38% higher on a year-to-date basis compared with 2008," said Appleton-Young. "Sales continue to be boosted by the large number of distressed properties on the market, along with favorable interest rates."
*CAR, 9/28/09
------------------------------------------------------------------------
COASTAL AREA SALES DATA AND DISTRESS SALES STATISTICS OF 2009 FROM 01/01/09 FOR:
Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente
Active Listings = 2,435, w/Bank Conditions = 374
In Escrow Listings = 921, w/Bank Conditions = 511
Sold from 01/01/09 = 2,751, w/Bank Conditions = 911
*MLS 09/28/2009
------------------------------------------------------------------------
COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR JULY 2008 COMPARED TO JULY 2009:
City - # Sold - Median Sale Price - % change from 2008:
Balboa Island - 92662 - 0 - N/A - N/A - N/A
Capo Beach - 92624 - 3 - $530,000 - minus 15.9%
Corona del Mar - 92625 - 12- $1,843,000 - minus 10.0%
Costa Mesa - 92626 - 30- $495,000 - minus 10%
Costa Mesa - 92627 - 30 - $595,000 - 17.2%
Dana Point - 92629 - 12 - $745,000 - minus 3.8%
Laguna Beach - 92651 - 26 - $1,145,000 - minus 33.8%
Laguna Niguel - 92677 - 45 - $695,000 - 8.2%
Newport Beach - 92660 - 21 - $1,253,000 - minus 20.1%
Newport Beach - 92661- 2 - $4,300,000 - 106.2%
Newport Beach - 92663 - 12 - $1,130,000 - minus 51.1%
Newport Coast - 92657 - 14 - $1,575,000 - minus 7.9%
San Clemente - 92672 - 30 - $595,000 - minus 36.5%
San Clemente - 92673 - 28 - $740,000 - minus 10.2%
Percentage change is compared to the same month of the prior year.
*DQNews/LATimes, 09/28/09
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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