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| Tick Tock...Daylight Savings Starts March 8th Don't Forget To Set Clocks Ahead One Hour at 2AM March 7th
Southern California Home Sales Decline; Median Sale Price Still Up Year Over Year
Low inventory leads the California housing market report.
Home sales in January fell sharply from December, as they normally do, and
dipped modestly from a year earlier, marking the 14th month in the last 16 to
post a year-over-year sales decline.
Statistics
Can Be Strange: January and February are not
necessarily a good indication of what's to come. This is largely because many
traditional buyers and sellers drop out of the housing market during the
holidays and mid-winter, and therefore don’t close deals during those months.
In recent years that's led to somewhat higher concentrations of investor
activity for January and February, and this was seen again last month.
Spring
Market: Heading into Spring it will be
interesting to see whether price appreciation and other factors will finally
release a lot of the pent-up supply of homes. More owners have gained enough
equity to sell and buy another home and more will be satisfied with how much
their homes can fetch. At the same time, recent gains in job and income growth,
coupled with low mortgage rates, could stoke demand and put significant
pressure on prices unless we see a meaningful jump in inventory.
How Buyers Bought Homes In January:
Foreclosures 5.7%
Short Sales 5.6%
Absentee Buyers 25%
Cash Buyers 24.6%
Jumbo Loans over $417,000 30.7%
Adjustable Rate Loans 11.3%
2/17/15 CoreLogic/DNews
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February Sales for Laguna Beach
191 Active Listings
60 In Escrow 20 Closed Sales from 2/01/15 - 2/28/15 2 sales under $1 million 10 sales $1-2 million 7 sales $2-3 million 1 sale for $3,200,000
*Compared to January: Inventory Increased, In Escrow Increased, Sales Down - Source CRMLS 2/28/15
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Median Sales Price For Coastal Zip Codes for January 2015 Compared to January 2104
Balboa Island - 92662 - 0 - n/a – n/a
Capistrano Beach - 92624 - 4 - $943,000 : 26.8%
Corona del Mar - 92625 - 8 - $1,975,000 : - 14.1%
Costa Mesa - 92626 - 21 - $645,000 : - 5.1%
Costa Mesa - 92627 - 21 - $605,000 : - 22.6%
Dana Point - 92629 - 9 - $986,000 : 25.2%
Laguna Beach - 92651 - 25 - $1,570,000 : 5.9%
Laguna Niguel - 92677 - 44 - $758,000 : - 3.1%
Newport Beach - 92660 - 22 - $1,653,000 : 7.6%
Newport Beach - 92661 - 4 - $1,910,000 : - 4.1%
Newport Beach - 92663 – 13 - $1,439,000 : 27.6%
Newport Coast - 92657 - 8 - $3,875,000 : - 8.1%
San Clemente - 92672 - 23 - $749,000 : 2.6%
San Clemente - 92673 - 25 - $845,000 : 6.6%
*Source DQNews/LATimes 1/25/15
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Affordable - Close To The Beach
Ocean View, Remodeled, With Community Pool
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|
Saturday, February 28, 2015
MARCH 2015 COASTAL SOUTH ORANGE COUNTY REAL ESTATE NEWS
Sunday, February 1, 2015
FEBRUARY 2015 COASTAL SOUTH ORANGE COUNTY REAL ESTATE NEWS
 |
| Experience A Window to the Sea of Panoramic Ocean Views 31293 Ceanothus Drive, Laguna Beach
|
2014 Ends
With Home Sales And Prices On The Rise
During December 2014 the number of homes sold increased sharply
from November and prices rose modestly from the same time a year earlier,
marking one of just two months in 2014 to post a year-over-year gain in sales. Lower
mortgage rates and job growth in recent months may account for these increases.
Ongoing Trend: One month doesn’t make a trend, but December’s increase
in home sales comes with a renewed interest in housing purchasing. The continued
decline in the share of homes sold to investors and cash buyers also comes with
a more stable market. Investors like to buy when homes are at bottom prices.
Cash buyers become more important when buyers are unable to obtain conventional
financing.
Time To Sell? As demand continues to build more inventory will be
needed to keep up with increasing sales. As more homebuyers enter the market higher
demand and higher home values will lead to a lot more people listing their
homes for sale.
Time To Buy? Absolutely! Prices are rising slowly, interest rates are at
an all-time low and growth in the economy is steady. First time buyers you can
stop leasing and use your hard earned money to purchase a home and an
investment in your future. Baby boomers time to find a one level home or move
nearer your family. Business people on the rise, buy your dream home. If there
is a dream it can be realized with the help of your partners in the future –
your real estate experts!
DQNews 1/14/15------------------------------------------------------------------------------
JANUARY 2015 SALES STATISTICS FOR LAGUNA BEACH
176 active listings
42 in escrow
25 closed sales from 1/01/15 - 1/31/15
42 in escrow
25 closed sales from 1/01/15 - 1/31/15
25 Sales for January
2015:
6 sales under $1 million
11 sales $1-2 million
3 sales $2-3 million
3 sale for $3-4 million
2 sale for $4-5 million6 sales under $1 million
11 sales $1-2 million
3 sales $2-3 million
3 sale for $3-4 million
*Source CRMLS 1/31/15
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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 - 5 - $902,000 : 19.8%
Corona del Mar - 92625 - 13 - $1,995,000 : -43%
Costa Mesa - 92626 - 24 - $645,000 : 4.8%
Costa Mesa - 92627 - 18 - $738,000 : 15.4%
Dana Point - 92629 - 32- $998,000 : 15%
Laguna Beach - 92651 - 293 - $1,750,000 : 14.1%
Laguna Niguel - 92677 - 51 - $820,000 : 21.2%
Newport Beach - 92660 - 34 - $1,451,000 : 7.6%
Newport Beach - 92661 - 6 - $2,325,000 : 27.4%
Newport Beach - 92663 – 15 - $2,125,000 : 27.6%
Newport Coast - 92657 - 11 - $3,200,000 : 49.9%
San Clemente - 92672 - 23 - $840,000 : 12%
San Clemente - 92673 - 29 - $770,000 : -6.1%
*Source DQNews/LATimes 1/25/15
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Interested in Knowing Your Home’s Value?
Contact Pamela and Amanda For
Your Personalized Market Evaluation at No Cost or Obligation to You!
Licensed Real Estate Brokers Specializing
Friday, January 2, 2015
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:
*Source CRMLS 12/31/14
----------------------------------------------------------------------------------------------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
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
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
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
------------------------------------------------------------------------------------------
Put Our Expertise To Work For You...
Licensed Real Estate Brokers Specializing
In the Coastal Real Estate Market
 |
| Pamela and Amanda - Nominees Orange County Business Journal Women of the Year! |
Sunday, November 30, 2014
DECEMBER 2014 COASTAL SOUTH ORANGE COUNTY REAL ESTATE NEWS
 |
| Holiday Time Brings Nighttime Traffic To Downtown Laguna Beach |
The Southland Housing Market Mellows As Sales Fall, Price Growth Slow
After a torrid rebound in 2013, the housing market has mellowed. Families have struggled to afford higher prices and many investors have left the market, no longer seeing a bargain.
Most economists, however, say the slower pace is a good thing. It may give families a chance to catch up, after home prices rose far faster than incomes in recent years.
It’s important for things to cool off a bit in the housing market, because too-fast appreciation risks burning both buyers and sellers. This slowdown is a critical step on the road back to a normal housing market.
Economic Growth Strongest In A Decade: Gross domestic production rose making the last six-month stretch the best since 2003. Greater consumer spending and business investments contributed to the better than expected economic growth.
Conforming Loan Rates: Federal Housing Finance Agency announced conforming loan limits will remain untouched throughout most of the country for 2015. The maximum limit for mortgages acquired by Fannie Mae and Freddie Mac will stay at $417,000 for single-unit properties in most of the country, with a maximum of $625,500 for certain high-cost areas.
Foreclosure Timelines in CA/NV: Residential foreclosure timelines for residential mortgages backed by properties in California and Nevada will remain lengthy over the next year until gradually starting to decline in early 2016, due mainly by these being non-judicial foreclosure states.
*LATMES/CAR/FHFA 11/25/14
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November 2014 Sales Statistics For Laguna Beach
218 active listings
50 In escrow
36 Closed Sales from 11/01/14 - 11/30/14
36 Sales for November 2014:
6 sales under $1 million
17 sales $1-2 million
10 sales $2-3 million
2 sales $3-4 million
1 sale $6,400,000
*CRMLS 11/31/14
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Sales by Coastal Zip Codes - Median Sale Price for November 2014 Compared to November 2013
Balboa Island - 92662 - 2 - $2,550,000 - 99.6%
Capistrano Beach - 92624 - 2 - $725,000 – minus 3.8%
Corona del Mar - 92625 - 10 - $1,828,000 – 3.8%
Costa Mesa - 92626 - 34- $677,000 – 7.6%
Costa Mesa - 92627 - 25 - $710,000 – 2.3%
Dana Point - 92629 - 340- $1,023,000 – minus 6.6%
Laguna Beach - 92651 - 40 - $1,808,000 – minus 15.7%
Laguna Niguel - 92677 - 49 - $777,000 – minus 6.9%
Newport Beach - 92660 - 35 - $1,550,000 – minus 1.6%
Newport Beach – 92661 – 2 - $3,3268,000 – 29.4%
Newport Beach – 92663 – 135 - $2,165,000 – minus 1.6%
Newport Coast – 92657 – 13 - $3,268,000 – 29.4%
San Clemente – 92672 – 32 - $785,000 – 12.1%
San Clemente – 92673 – 39 - $875,000 – 12.6%
*DQNews 11/25/14
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Just Listed - Cape Code Oceanfront, On The Sand
Click to View Virtual Tour of 16531 S Pacific Ave, Sunset Beach
Friday, October 31, 2014
NOVEMBER 2014 COASTAL SOUTH ORANGE COUNTY REAL ESTATE NEWS
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| Tick Tock...Daylight Savings Time Ends Nov. 2 Set Your Clocks Back Unless You Live in Arizona or Hawaii CALIFORNIA HOME SALES TO INCREASE SLIGHTLY, WHILE HOME PRICES POST SLOWEST GAIN IN FOUR YEARSWith the U.S. economy expected to grow more robustly than it has in the past five yearsand housing inventory continuing to improve, California housing sales and prices will see a modest upward trend in 2015. Housing Forecast: With more available homes on the market for sale, California’s housing market will see fewer investors and a return to traditional home buyers as home sales rise modestly and prices flatten out in 2015. Expected is an increase in existing home sales of 5.8%. Sales in 2014 will be down 8.2% from single-family homes sold in 2013. Lending Guidelines: Stringent underwriting guidelines and double-digit home price increases over the past two years have significantly impacted housing affordability in California, forcing some buyers to delay their home purchase. However, next year, home price gains will slow, allowing would-be buyers who have been saving for a down payment to be in a better financial position to make a home purchase.” Down Payment Amount: Buyers should know that it's a misperception that a 20% down payment is always required to buy a home. There are numerous programs available that allow consumers to buy a home with less down payment, including FHA loans, which lets buyers put down as little as 3.5 percent. *10/07/14 CAR ---------------------------------------------------------------------------------------------------------------------------------------- OCTOBER 2014 SALES STATISTICS FOR LAGUNA BEACH218 active listings50 In escrow Closed Sales 41 from 10/01/14 - 10/31/14 41 Sales for October 2014: 6 sales under $1 million 19 sales $1-2 million 8 sales $2-3 million 1 sale $3,070,000 3 sales $4-5 million 1 sale $5,820,000 1 sale $6,386,250 1 sale $7,600,000 1 sale $10,000,000 *CRMLS 10/31/14 --------------------------------------------------------------------------------------------------- COASTAL ZIP CODES BY MEDIAN SALE PRICE FOR SEPTEMBER 2014 COMPARED TO SEPTEMBER 2013
Balboa Island - 92662 - 1 - $2,650,000 – 32.5%
Capistrano Beach - 92624 - 5 - $1,699,000 – 149.9%
Corona del Mar - 92625 - 18 - $1,773,000 – minus 22.8%
Costa Mesa - 92626 - 26- $646,000 – 3.4%
Costa Mesa - 92627 - 26 - $738,000 – 18%
Dana Point - 92629 - 34 - $850,000 – minus 6.6%
Laguna Beach - 92651 - 42 - $2,015,000 – 20.8%
Laguna Niguel - 92677 - 68 - $825,000 – 9.3%
Newport Beach - 92660 - 30 - $1,460,000 – minus 10.8%
Newport Beach – 92661 – 3 - $1,925,000 – minus 33.1%
Newport Beach – 92663 – 15 - $2,165,000 – minus 1.6%
Newport Coast – 92657 – 12 - $4,450,000 – 52.8%
San Clemente – 92672 – 38 - $753,000 – minus 5.3%
San Clemente – 92673 – 36 - $820,000 – minus 10.9%
*Median price for Capistrano Beach over $1M for first time and half of the cities posting minus median prices. **Source DQNews/LATimes 10/26/14
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