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

DECEMBER 2011 SOUTH ORANGE COUNTY REAL ESTATE MARKET CONDITIONS ORANGE COUNTY CA



Montage Resort Holiday Scene



RESALE ACTIVITY AHEAD OF LAST YEAR

For a few months now, lower prices and amazingly low mortgage rates have kept resale activity slightly ahead of last year. The market continues to struggle with a difficult lending environment, uncertainty among potential buyers, underwater homeowners who can't move up, and a weak job market.

LOANS: The lower conforming loan limits implemented last month help explain the relatively sharp drop in mid- to high-end sales during October. FHA loans and mortgages guaranteed by Fannie Mae and Freddie Mac were lowered from $729,750 to $625,500. Eliminating a sector of buyers. Now we'll have to see if the private loan market can fill the void.

LAGUNA BEACH MARKET: Currently in Laguna Beach there are 250 homes for sale, 65 in escrow and 27 closed sales for November. 10 sales were under $1million, 10 between $1-2million, 5 between $2-3M and 2 between $6-7M.

MLS, DQNews 11/30/11
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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 = 1,985 w/Bank Conditions = 397
In Escrow Listings = 486 w/Bank Conditions = 487
Sold from 01/01/11 = 3,848 w/Bank Conditions = 1,295

*SoCalMLS 11/30/11
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR OCTOBER 2010 COMPARED TO OCTOBER 2011:

City - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 3 - $1,590,000 - minus 3.3%
Capo Beach - 92624 - 6- $567,000 - minus 17.9%
Corona del Mar - 92625 - 6 - $1,565,000- 1.0%
Costa Mesa - 92626 - 26 - $498,000 - minus 17.4%
Costa Mesa - 92627 -24- $493,000 - minus 1.5%
Dana Point - 92629 - 16 - $623,000 - minus 7.8%
Laguna Beach - 92651 - 30 - $1,523,000 - 8%
Laguna Niguel - 92677 -39 - $635,000 - minus 11.2%
Newport Beach - 92660 - 26 - $963,000 - minus 16.3%
Newport Beach - 92661- 1 - $825,000 - minus 65.3%
Newport Beach - 92663 - 11- $1,307,000 - minus 12.9%
Newport Coast - 92657 - 12 - $2,647,000 - minus 11.8%
San Clemente - 92672 -11 - $550,000 -minus 15.4%
San Clemente - 92673 - 34 - $600,000 - minus 20.0%

*Not as many minus % compared to last year's average sale prices. DataQuickNews 11/30/2011
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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!

HortonsInLaguna.com

OCTOBER 2011 COASTAL REAL ESTATE NEWS FOR ORANGE COUNTY CA



Anita Street Beach Sunset

                                                             

SALES ARE INCREASING, FORECLOSURES FALL

The number of California homes that went into foreclosure fell to a four-year low last quarter, the result of a more stable housing market as well as policy changes in the mortgage servicing industry. Notices of Default are down 17%.

A lot of theories are being floated as to why the numbers are down. Bank policy changes. Legal challenges. Politics. Holding back temporarily so as not to flood the market. The fact of the matter is that no one really knows, outside of lending and servicing industry insiders. One thing is certain: Homeowner distress spreads fastest when home price declines are steepest. And it now appears likely that, barring some some new economic shock, the worst of the price declines may be behind us.

LAGUNA BEACH MARKET: For September 2011 there have been 22 closed sales priced from $497,900 to $4.050,000. In escrow there are 74 properties and active listings are at a low of 309 homes.
*Source: SOCALMLS, DataQuick 9/30/11
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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 = 2,332 w/Bank Conditions = 413
In Escrow Listings = 847 w/Bank Conditions = 484
Sold from 01/01/11 = 3,204 w/Bank Conditions = 1074

*SoCalMLS 09/30/11
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR AUGUST 2011 COMPARED TO AUGUST 2011:

City - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 3 - $2,500,000 - minus 38.7%
Capo Beach - 92624 - 9- $575,000 - 15.7%
Corona del Mar - 92625 - 14 - $1,713,000- minus 22.6%
Costa Mesa - 92626 - 33 - $479,000 - minus 10.0%
Costa Mesa - 92627 -21- $450,000 - minus 13.8%
Dana Point - 92629 - 18 - $640,000 - minus 24.1%
Laguna Beach - 92651 - 18 - $1,023,000 - minus 25.6%
Laguna Niguel - 92677 -59 - $647,000 - minus 2.3%
Newport Beach - 92660 - 35 - $1,250,000 - minus 3.8%
Newport Beach - 92661- 4 - $1,800,000 - minus 39.2%
Newport Beach - 92663 - 10- $1,288,000 - minus 19.5%
Newport Coast - 92657 - 16 - $1,700,000 - minus 2.9%
San Clemente - 92672 - 23- $583,000 - 1.2%
San Clemente - 92673 - 30 - $670,000 - 1.1%

*Not as many minus % compared to last year's average sale prices. DataQuickNews 09/01/2011
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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!

Let's Stay In Touch - Like Us on Facebook: Facebook.com/HortonsInLaguna                                  

SEPTEMBER 2011 COASTAL REAL ESTATE NEWS FOR ORANGE COUNTY CA



Aliso Beach, South Laguna



SOUTHLAND HOUSING MARKET REMAINS WEAK
SoCal home sales fell last month especially for $500,000-plus homes, as the job market sputtered, economic uncertainty intensified and some potential homebuyers got cold feet. Reports on the economy became increasingly downbeat and, no doubt, some people fretted over the possibility the country would default on its obligations.

The median home sale price has declined year-over-year for the past five months. It has been unchanged or lower than a year earlier each month since last December, when it posted a 0.3% annual increase.

SHORT SALES: Where the sale price fell short of what was owed on the property, made up an estimated 17.3% of sales last month. This is down from 19.4% last year and two years ago the estimate was 14.3%.

LOANS: Tight credit conditions continue to hamper sales in mid- to high-end markets that have long relied on adjustable-rate and "jumbo" home loans.

BUYERS: Paying cash accounted for 28.2% of sales. Many who pay cash are absentee buyers, who are mainly investors.

HIGH END HOME SALES: Mid- to high-end activity suggests these neighborhoods now account for a fairly normal level of sales relative to overall activity. Southland zip codes in the top one-third of the housing market, based on historical prices, accounted for 37.0% of total sales last month, compared with a 10-year monthly average of 36.9%. Last month's figure was down slightly from a year ago.

LAGUNA BEACH MARKET: For August 2011 currently there are 342 homes for sale, 73 in escrow and 18 closed sales.

*Information sources: DataQuick 8/30/11
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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 = 2,452 w/Bank Conditions = 417
In Escrow Listings = 582 w/Bank Conditions = 498
Sold from 01/01/11 = 2,816 w/Bank Conditions = 955

*SoCalMLS 08/30/11
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR JULY 2011 COMPARED TO JULY 2011:

City - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 2 - $3,058,000 - 32.9%
Capo Beach - 92624 - 6- $630,000 - minus 24.3%
Corona del Mar - 92625 - 15 - $1,225,000- minus 22.2%
Costa Mesa - 92626 - 23 - $500,000 - minus 5.7%
Costa Mesa - 92627 -32- $512,000 - 2.4%
Dana Point - 92629 - 24 - $650,000 - minus 13.9%
Laguna Beach - 92651 - 27 - $1,458,000 - 6.0%
Laguna Niguel - 92677 -61 - $695,000 - 12.6%
Newport Beach - 92660 - 30 - $1,330,000 - minus 3.1%
Newport Beach - 92661- 3 - $1,254,000 - minus 14.4%
Newport Beach - 92663 - 12- $1,230,000 - minus 0.9%
Newport Coast - 92657 - 13 - $1,720,000 - 4.9%
San Clemente - 92672 - 20- $630,000 - minus 2.7%
San Clemente - 92673 - 35 - $720,000 - minus 12.0%

*More minus % compared to last year's average sale prices. DataQuickNews 08/30/2011
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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!

http://www.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
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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!

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