MAY 2015 COASTAL ORANGE COUNTY REAL ESTATE NEWS



Elegant Montage Villa Listed by Pamela & Amanda
3 Bedrooms, 3.5 Baths, Ocean Views, $6,495,000
Located at Montage Resort Laguna Beach
Click to View the Montage Villa Website

Double-Digit Gain in Annual Home Sales Suggests Robust Market Will Continue!

California pending home sales jumped in March to record three straight month-to-month and year-to-year sales increases, portending a solid upcoming spring home-buying season. Pending home sales in Southern California rose 16.7% percent in March up 15% from March 2014. Laguna Beach saw an increase in the number of homes sold. Sales prices increased modestly which can be perceived as good as no one wants to see the huge increases that led the torrid downward spiral of home prices during the lending scandal that hit the country by storm in the earlier part of this decade.

Equity Sales: Non-distressed property sales climbed in March to most of all home sales. Equity sales have been more than 80% of total sales since July 2013 and have risen to or near 90% since mid-2014.

Distressed Sales: Fell in March to 9% of all sales. 

Homes Pricing: The premium paid over asking price declined in March indicating sellers’ and buyers’ expectations are more in line. In March, homes that sold above asking price sold for 7.5% above asking price, this is down from 10% in February, and essentially flat from March 2014. So the tried and true adage stands; price your home right and you will sell your home close to asking price, price it too low and you will have multiple offers, price it over market value and expect to be on the market a long time.

*CoreLogic 4/24/15
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APRIL 2015 SALES STATISTICS FOR LAGUNA BEACH:
 218 Active listings
 68 In Escrow
 39 Closed Sales 4/1/2015 – 4/30/2015

Sales for April 2015:
4 sales under $1 million
20 sales $1-2 million
7 sales $3-4 million
5 sales $4-5 million
1 sale $6,288,598
2 sales $7-8 million
 *Source CRMLS 4/30/15
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR MARCH 2015 COMPARED TO MARCH 2014:

 Balboa Island - 92662 - 5- $2,985,000: -25.4%
Capistrano Beach - 92624 - 9 - $1,080,000: +45.9%
Corona del Mar - 92625 - 10 - $1,760,000: -12%
Costa Mesa - 92626 - 36- $629,000: +4.5%
Costa Mesa - 92627 - 25 - $865,000: +22.3%
Dana Point - 92629 - 23- $885,000: -24%
Laguna Beach - 92651 - 35 - $1,725,000: -12.7%
Laguna Niguel - 92677 - 58 - $801,000: +3.4%
Newport Beach - 92660 - 43 - $1,600,000: -10.5%
Newport Beach – 92661 – 4 - $2,315,000: +12.1%
Newport Beach – 92663 – 15 - $1,650,000: +3.8%
Newport Coast – 92657 – 15 - $2,783,000 -11.7%
San Clemente – 92672 – 41 - $758,000: -7.3%
San Clemente – 92673 – 31 - $875,000: +5.7%
*Source DQNews/LATimes 4/25/15
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Pamela and Amanda: Using Social Media To Sell Real Estate 
Click here to visit HortonsInLaguna YouTube Page

  

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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MARCH 2015 COASTAL SOUTH ORANGE COUNTY REAL ESTATE NEWS

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

 Statistics: 
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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FEBRUARY 2015 COASTAL SOUTH ORANGE COUNTY REAL ESTATE NEWS

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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
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JANUARY 2015 SALES STATISTICS FOR LAGUNA BEACH

176 active listings
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 million

*Source CRMLS 1/31/15

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

                    In the Coastal Real Estate Market

                   Click Here to Contact Pamela and Amanda
 

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!