Friday, February 9, 2007

Real Estate Update: Week of February 4, 2007

Every week, each area has a broker preview. New listings are usually highlighted as well as properties that might have been over-looked. I will summarize what is new on the market every week.

This week 58 total homes were on the broker preview in the South area. They are broken out as follows:

Dana Point: 8 SFR 3 Condos
San Juan Capistrano: 7 SFR 0 Condos
San Clemente: 33 SFR 7 Condos

TOTAL 48 SFR 10 Condos

Of these listings posted for broker preview, 1 listing in Dana Point is an older listing with a price reduction, 2 listings in San Juan have been on the market for over 30 days, and in San Clemente, 10 of the listings are 30 days or older (7 SFR and 3 condos). There is always a variety of reasons why listing agents put homes on the preview sheet after they have been on the market for awhile. Sometimes they have a price reduction, sometimes they have completed improvements, sometimes the week it was on preview we had bad weather which influences turnout. Sometimes they simply want to regenerate interest in their property.

Price ranges for these previewed properties include on the low side in Dana Point a SFR at $739,000 up to an ocean view, 5,000+ square foot home for $3,299,000. In San Juan, $495,000 for a SFR up to $3,295,000 for a 5,000+ square foot home with golf course view. San Clemente price ranges vary between $315,000 for a one bedroom, one bath condo on the ground level to a $6,800,000 ocean view property in Cypress Cove.

Interest does seem to be picking up with more people attending agent open houses on the weekends. If there is something specific you are looking for, please let me know. I do attend broker preview and I love being able to narrow my search down for specific properties based upon a client's needs. I look forward to hearing from you.

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