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
----------------------------------------------------------------

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
---------------------------------------------------------------------

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

Scan QR code or click link to visit HortonsInLaguna.com

http://www.HortonsInLaguna.com

                                                 

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

Pageant of the Masters: The Genius
From July 7 - August 31

FIRST GAIN FOR CALIFORNIA REAL ESTATE PRICES IN 16 MONTHS

The median price for an existing, single-family home in California rose 1.6% in March compared with the year before, marking 2012 the first year-over-year increase in 16 months. Foreclosure activity remains high by historical standards but is lower than peak levels reached over the last few years. Financing with multiple mortgages is very low, and down payment sizes are stable.

Inventory at an unheard of low since 2007. Under 300 properties are listed for sale in Laguna Beach. Sales are increasing with multiple offers not uncommon and some properties selling for over list price. The first quarter of 2012 saw the highest amount of sales since the first quarter of 2006...
90 homes sold in 2012 vs. 83 in 2006.

MORE GOOD NEWS:

NY Times - "THE boom in housing in the middle of the last decade created a huge oversupply of homes in the United States. But now that oversupply appears to be close to vanishing, at least in most parts of the country.”  4/26/12

LA Times - "U.S. home sales are gradually coming back. The last two months made up the best winter for resale homes in 5 years." 4/22/12

Inman News: "Pending sales of existing homes rose to their highest level in nearly two years in March." NAR 4/27/12 **This is true in our coastal cities, see statistics below.

LATimes: "Feds urge lenders for shorter times to close short sales on Federally insured loans." 4/29/12

MAY STATISTICS FOR LAGUNA BEACH:
239 homes for sale
76 in escrow
28 closed sales from 4/1/12 - 4/30/12

Sales ranges for May 2012:
13 sales under $1 million
9 sales $1-2 million
3 sales for $2-3million
1 sale for $3,800,000
1 sale for $4,300,000
1 sale for $6,100,000

*SoCalMLS, DQNews 4/30/12
----------------------------------------------------------------

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 04/30/12
---------------------------------------------------------------------

COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR MARCH 2011 COMPARED TO MARCH 2012:

City - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 2 - $936,000 - minus 37.6%
Capo Beach - 92624 - 7- $445,000 - minus 18.3%
Corona del Mar - 92625 - 18 - $1,770,000- 5.7%
Costa Mesa - 92626 - 25 - $753,000 - minus 18.3%
Costa Mesa - 92627 -35- $543,000 - 2.4%
Dana Point - 92629 - 27 - $663,000 - 1.9%
Laguna Beach - 92651 - 35 - $1,400,000 - 25%
Laguna Niguel - 92677 -63 - $640,000 - 4.9%
Newport Beach - 92660 - 42 - $1,070,000 - minus 24.5%
Newport Beach - 92661- 3 - $2,700,000 - 94.9%
Newport Beach - 92663 - 11- $939,000 minus 54.6%
Newport Coast - 92657 - 15 - $1,890,000 - minus 29%
San Clemente - 92672 -31 - $455,000 - minus 29.5%
San Clemente - 92673 - 40 - $686,000 - minus 4.1%

*DataQuickNews 03/292012
--------------------------------------------------------------------

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!

Browse Pamela and Amanda’s Pinterest Boards
 http://pinterest.com/hortonsinlaguna

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

Laguna Main Beach

SOUTHLAND HOME SALES JUMP IN FEBRUARY, PRICES STILL DOWN

February sales got a big boost from investors and others paying cash for relatively affordable homes accounting to a five-year high. The big picture is that the bottom of the housing market continues to see much of the action, while move-up activity remains sluggish. Financing is still difficult for many and lots of potential move-up buyers and sellers are stuck because they owe more than their homes are worth.

MORE GOOD NEWS:

OC Register - "Homes are flying off the market. The housing inventory is running on empty. The foreclosure and distressed/short sale inventory is at a low not seen since they started flooding the market back in 2007. The last time demand was this hot was in March 2005, at the tail end of the housing bubble." 3/26/12

LA Times - "U.S. home sales are gradually coming back. The last two months made up the best winter for resale homes in 5 years." 3/22/12

LATimes: "The Great Recession is officially over, but for a huge number of Americans, serious debt lives on." 3/25/12

And so it will continue...as the real estate market rises from the ashes while the economics of the country continue to improve. Let's all remember to save some money this time around!

APRIL STATISTICS FOR LAGUNA BEACH:
243 homes for sale
69 in escrow
27 closed sales from 3/1/12 - 3/31/12

Sales ranges for March 2012:
17 sales under $1 million
7 sales $1-2 million
1 sale for $2,350,000
1 sale for $3,200,000
1 sale for $4,150,000

*SoCalMLS, DQNews 3/31/12
----------------------------------------------------------------

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 03/31/12
---------------------------------------------------------------------

COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR MARCH 2011 COMPARED TO MARCH 2012:

City - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 1 - $1,800,000 - 33.6%
Capo Beach - 92624 - 5- $623,000 - 9.2%
Corona del Mar - 92625 - 7 - $2,630,000- 107.5%
Costa Mesa - 92626 - 18 - $453,000 - minus 12.1%
Costa Mesa - 92627 -18- $497,000 - minus 1.6%
Dana Point - 92629 - 14 - $584,000 - minus 38.6%
Laguna Beach - 92651 - 31 - $975,000 - 5.4%
Laguna Niguel - 92677 -43 - $580,000 - minus 1.7%
Newport Beach - 92660 - 22 - $1,220,000 - 1.2%
Newport Beach - 92661- 6 - $3,383,000 - 160.2%
Newport Beach - 92663 - 13- $1,350,000 37.8%
Newport Coast - 92657 - 13 - $2,300,000 - 84.7%
San Clemente - 92672 -23 - $525,000 - 4.0%
San Clemente - 92673 - 27 - $672,000 - 0.3%

*Only 4 minus % changes. DataQuickNews 03/31/12
--------------------------------------------------------------------

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

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

Sunsets In Laguna - A Sight To Behold

JANUARY SALES UP, PRICES LOWER

Normal trend for January sales is that traditional buyers retreat and investors snap up homes. Thus 2012 started with slightly higher sales and slightly lower prices. Typically January sales have never been a good indicator of what upcoming activity will be like. For this we need to wait until March (Spring) which usually foretells what all types of buyers will be doing.

Distressed Sales: Non-equity sales made up over half the resale market with absentee buyers - mostly investors and some second-home purchasers - bought a record 26.8% of the homes sold in January.

Cash Purchasers: Accounted for a near-record 31.4% of January home sales.

Foreclosures: Are lower than peak levels reached over the last two years. Making up 32.6% of sales, down from last year. Delinquent homeowners with mortgages above $1 million are escaping foreclosure longer than those with smaller mortgages.

Financing: Mortgage interest rates are still at a record-low. Loan terms are restrictive, not many buyers are using multiple mortgage financing and down payments are usually 20% or more; unless applying for an FHA loan which has lower guidelines and is mostly for first time buyers.

MARCH STATISTICS FOR LAGUNA BEACH:
243 homes for sale
69 in escrow
27 closed sales from 2/1/12 - 2/28/12

Sales ranges for February 2012:
17 sales under $1 million
7 sales $1-2 million
1 sale for $2,350,000
1 sale for $3,200,000
1 sale for $4,150,000

*SoCalMLS, DQNews 3/01/12
----------------------------------------------------------------

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 03/01/12
---------------------------------------------------------------------

COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR FEBRUARY 2011 COMPARED TO FEBRUARY 2012:

City - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 1 - $1,725,000 - minus 18%
Capo Beach - 92624 - 4- $385,000 - minus 36.9%
Corona del Mar - 92625 - 11 - $1,840,000- minus 15.8%
Costa Mesa - 92626 - 15 - $440,000 - minus 12.6%
Costa Mesa - 92627 -1820- $510,000 - minus 18.1%
Dana Point - 92629 - 14 - $663,000 - 6%
Laguna Beach - 92651 - 24 - $900,000 - minus 11.8%
Laguna Niguel - 92677 -38 - $680,000 - minus .7%
Newport Beach - 92660 - 25 - $1,197,000 - minus .6%
Newport Beach - 92661- 1 - $2,300,000 - minus 13.2%
Newport Beach - 92663 - 7- $790,000 - minus 55.7%
Newport Coast - 92657 - 18 - $1,553,000 - minus 17.9%
San Clemente - 92672 -18 - $675,000 - 3.8%
San Clemente - 92673 - 19 - $699,000 - minus 6.2%

*DataQuickNews 03/01/2012
--------------------------------------------------------------------

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

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
----------------------------------------------------------------

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
---------------------------------------------------------------------

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
--------------------------------------------------------------------

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