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
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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 03/31/12
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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
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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

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
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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 03/01/12
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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
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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

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

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!

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