I thought that you would find this bit of news extremely interesting. This is the perspective of a lender who has been in the business for over 30 years. He is evaluating this market compared to the market of 1980-1981 and 1990 to 1994 when we also had major real estate slumps.
1. The Federal Open Market Committee (FOMC) Will Continue to Lower Interest Rates - This will continue to stimulate the economy, keeping unemployment low in addition to helping ARMs reset at lower interest rates.
2. The Economy is Creating Jobs and Unemployment is Low - During the last two housing downturns reasons were directly related to recessions in the U.S. economy.
3. Lenders are Helping Homeowners with Loan Modifications on ARM Resets - This will decrease the number of home buyers needing to sell or going into foreclosure.
4. Subprime ARM Resets Peak in 1st Quarter 2008 with Minimum Resets By Year-End - The credit markets froze in fear of these resets. Once past, more credit markets will make money available.
5. Home Builders are Dumping Standing Inventory to Remove Inventory Off The Books By Year-End - The competition to the resale market will be greatly reduced.
6. Sellers of Existing Homes Will Take Their Homes Off the Market At Year-End That Don't Need to be Sold - Combining this with those that need to sell and lowering their sales prices during the holiday slow period, will cause the months to sell inventory to come down. During the downturn in the 90's there was a 27-month inventory whereas in today's market we only have a 10-month inventory.
7. Credit Markets for Jumbo Financing are Opening Up - The spread of interest rates between conforming and jumbo loans has been greatly reduced. Many programs are now available making it easier for buyers to qualify.
8. The Fires in Southern California Will Create Construction Jobs and Help Supporting Industries - California has been losing jobs in this area. This in and of itself will keep a cap on the unemployment rate. Furniture, appliances, landscaping, architects, etc. will benefit.
9. Real Estate Investors are Stepping Up and Making Offers - Mostly absent in 2007, real estate investors are stepping up to take advantage of the foreclosures and lowered prices.
10. Buyer Sentiment of Those Waiting Will Change as Foreclosure Reporting Lessens - There are so many buyers just waiting for a sign as they fear prices will continue down. The sign will be decreasing foreclosures and inventory time to sell will be reduced and reported by the media.
Wednesday, October 31, 2007
Sunday, October 28, 2007
Some Interesting Proposed Legislation to Provide Relief to the Housing Market
There are a number of bills on Capitol Hill that are looking at providing homeowners with some relief. One we desperately need here in California the the Federal Housing Administration Modernization Act, which would raise loan limits in high-cost areas such as California and parts of the East Coast and cut down payments. By some it is considered a crucial relief measure for homeowners who need to refinance out of adjustable rate loans into lower-cost, fixed rate mortgages. The Senate Banking Committee approved the bill back in September, but we haven't heard anything about it in the past month.
Another bill, the Home Ownership Mortgage Emergency Act, would allow certain homeowners who are 60 days or more behind on their payments to withdraw up to $100,000 penalty-free from their retirement accounts. The funds could be used to bring their loans current or refinance into a more affordable mortgage. Under this bill, homeowners would avoid the usual 10% federal tax penalties on early pension distributions as long as they paid back the withdrawn amounts within three years. The bill does restrict this benefit to taxpayers with maximum adjusted gross incomes of $166,000 for joint filers or $114,000 for single filers. It would only apply to owner-occupied properties and it would terminate in 2009.
A new piece of legislation introduced earlier this month is aimed at fixing the mess in the mortgage market. The Escrow, Appraisal and Mortgage Servicing Improvements Act would ban all forms of lender or broker interference in appraisers' valuations and would require high-cost, sub-prime mortgages to carry escrow accounts for property tax and insurance payments. The bill would impose penalties of up to $20,000 per violation on anyone who intimidates, threatens, bribes, or otherwise attempts to influence an appraiser's valuation of a home. It also guarantees buyers access to all appraisals performed on the property, not just the highest one the loan officer uses to close the deal.
These still seem a long way off, but for those of you in trouble relief is attempting to come your way. There are some things that can be done locally to try to get your property moving if it is on the market now. Give me a call and we can discuss what your options are.
Another bill, the Home Ownership Mortgage Emergency Act, would allow certain homeowners who are 60 days or more behind on their payments to withdraw up to $100,000 penalty-free from their retirement accounts. The funds could be used to bring their loans current or refinance into a more affordable mortgage. Under this bill, homeowners would avoid the usual 10% federal tax penalties on early pension distributions as long as they paid back the withdrawn amounts within three years. The bill does restrict this benefit to taxpayers with maximum adjusted gross incomes of $166,000 for joint filers or $114,000 for single filers. It would only apply to owner-occupied properties and it would terminate in 2009.
A new piece of legislation introduced earlier this month is aimed at fixing the mess in the mortgage market. The Escrow, Appraisal and Mortgage Servicing Improvements Act would ban all forms of lender or broker interference in appraisers' valuations and would require high-cost, sub-prime mortgages to carry escrow accounts for property tax and insurance payments. The bill would impose penalties of up to $20,000 per violation on anyone who intimidates, threatens, bribes, or otherwise attempts to influence an appraiser's valuation of a home. It also guarantees buyers access to all appraisals performed on the property, not just the highest one the loan officer uses to close the deal.
These still seem a long way off, but for those of you in trouble relief is attempting to come your way. There are some things that can be done locally to try to get your property moving if it is on the market now. Give me a call and we can discuss what your options are.
Wednesday, October 24, 2007
Financing Update
This week Countrywide Financial announced that they will restructure or refinance $16 billion in adjustable-rate mortgages that have recently reset to higher interest rates or will reset by the end of next year. Some feel that this proactive move is a little late, while others are appaulding Countrywide. The plan which was outlined to the media would accomplish the following:
Homeowners/borrowers that are in default on their loans because of an interest-rate reset in the past few months, will receive a letter offering to roll back their rate to the previous, lower level. Countrywide expects to modify 10,000 of this type of loan totalling $2.2 billion, by the end of this year.
Homeowners/borrowers that are likely to have difficulty affording an upcoming rate increase and are unable to refinance, Countrywide will modify the loan to a rate that will keep the borrower in their home. They expects to modify 20,000 loans totally $4 billion through the end of next year.
Homeowners/borrowers that had subprime credit, but have been making payments on time, Countryside will offer to refinance them into a lower interest "prime" loan, or a mortgage insured by the FHA, Fannie Mae, or Freddie Mac. The expect 52,000 borrowers would qualify for a new loan and expect to refinance $10 billion in mortgages. These borrowers will have to pay the fees to refinance their loans.
With this relief in sight for some homeowners, Wall Street did not take kindly to this announcement and Countrywide's stock fell considerably. As an agent out there trying to help people, it is positive to see the leadership role that Countrywide has taken on this matter.
Homeowners/borrowers that are in default on their loans because of an interest-rate reset in the past few months, will receive a letter offering to roll back their rate to the previous, lower level. Countrywide expects to modify 10,000 of this type of loan totalling $2.2 billion, by the end of this year.
Homeowners/borrowers that are likely to have difficulty affording an upcoming rate increase and are unable to refinance, Countrywide will modify the loan to a rate that will keep the borrower in their home. They expects to modify 20,000 loans totally $4 billion through the end of next year.
Homeowners/borrowers that had subprime credit, but have been making payments on time, Countryside will offer to refinance them into a lower interest "prime" loan, or a mortgage insured by the FHA, Fannie Mae, or Freddie Mac. The expect 52,000 borrowers would qualify for a new loan and expect to refinance $10 billion in mortgages. These borrowers will have to pay the fees to refinance their loans.
With this relief in sight for some homeowners, Wall Street did not take kindly to this announcement and Countrywide's stock fell considerably. As an agent out there trying to help people, it is positive to see the leadership role that Countrywide has taken on this matter.
Thursday, October 11, 2007
Where To Go With South County Real Estate
I have taken some time off from blogging to try to figure out where and what I wanted to do with this website blog. I have decided to change direction and spend some time over the next few weeks, updating what is really going on in the local real estate market.
For instance, today I received an email from a local area lendor sharing a survey that was completed this past July, 2007 as to what the primary reasons are for borrowers to fall behind on their home loan payments. Approximately 80% of the respondents to this survey were borrowers who were facing foreclosure. Of these borrowers, the most common reasons they were facing financial difficulties were:
Curtailment of income - 58.3%
Illness/Medical reasons - 13.2%
Divorce - 8.4%
Unable to sell/investment property - 6.1%
Low regard for home ownership - 5.5%
Death - 3.6%
Payment adjustments - 1.4%
Other - 3.5%
I am sure most of you knew the top two or three reasons, but what surprised me was the low regard for home ownership. People will never cease to amaze me!
Here are some fast facts FYI:
The median home price as of August 2007 in California was $588,970.
First time buyer affordability index for the second quarter of 2007 was 24%
Mortgage rates for the week ending 10/4/07:
30 year fixed: 6.37% fees/points: 0.5%
15 year fixed: 6.03% fees/points: 0.5%
1 year adjustable: 5.58% fees/points: 0.7%
More later...
For instance, today I received an email from a local area lendor sharing a survey that was completed this past July, 2007 as to what the primary reasons are for borrowers to fall behind on their home loan payments. Approximately 80% of the respondents to this survey were borrowers who were facing foreclosure. Of these borrowers, the most common reasons they were facing financial difficulties were:
Curtailment of income - 58.3%
Illness/Medical reasons - 13.2%
Divorce - 8.4%
Unable to sell/investment property - 6.1%
Low regard for home ownership - 5.5%
Death - 3.6%
Payment adjustments - 1.4%
Other - 3.5%
I am sure most of you knew the top two or three reasons, but what surprised me was the low regard for home ownership. People will never cease to amaze me!
Here are some fast facts FYI:
The median home price as of August 2007 in California was $588,970.
First time buyer affordability index for the second quarter of 2007 was 24%
Mortgage rates for the week ending 10/4/07:
30 year fixed: 6.37% fees/points: 0.5%
15 year fixed: 6.03% fees/points: 0.5%
1 year adjustable: 5.58% fees/points: 0.7%
More later...
Thursday, June 7, 2007
San Clemente and Surrounding Area Preview Update for Week of May 28th
This last week in May, the previews were somewhat slower probably due to the Memorial Day weekend. There were only a total of 42 properties on the South Area Preview Sheet for the week. Of these, seven were in Dana Point and were all new listings including 4 condos and 3 SFRs. Of particular note, there is a really cute beach cottage with 3 bedrooms and 2 baths on the market for $798,000. Nice rear yard and a downstairs bedroom/bath that could be a separate rental.
There were 28 homes on preview in San Clemente, 22 SFRs and 6 condos. Of these listings only five have been on the market for longer than 30 days. Eight of the listings were in Talega. Talega prices were ranging from a low of $829,000 for a 3 bedroom, 2.5 bath condo on the 9th hole of the Talega Golf Course to $2,350,000 for a 5 bedroom, 5.5 bath home in Careyes.
San Juan Capistrano only had four listings on the preview sheet this week, all SFRs, ranging in price from a low of $582,000 for a 2 bedroom, 2 bath to a 4 bedroom, 2.5 bath home in San Juan Hills for $1,329,000.
There were 28 homes on preview in San Clemente, 22 SFRs and 6 condos. Of these listings only five have been on the market for longer than 30 days. Eight of the listings were in Talega. Talega prices were ranging from a low of $829,000 for a 3 bedroom, 2.5 bath condo on the 9th hole of the Talega Golf Course to $2,350,000 for a 5 bedroom, 5.5 bath home in Careyes.
San Juan Capistrano only had four listings on the preview sheet this week, all SFRs, ranging in price from a low of $582,000 for a 2 bedroom, 2 bath to a 4 bedroom, 2.5 bath home in San Juan Hills for $1,329,000.
Monday, May 21, 2007
Auctions: Another Way To Buy and Sell Real Estate
Many other parts of the country (outside California) have for years used auctions as a method of selling real estate. Here in Southern California, we might have heard about real estate auctions, but more often they were pertaining to raw land deals, in particular out in the desert or the central part of the state. Wells, real estate auctions do work and more are being used in this crazy real estate market. Auctions work well on foreclosure properties - but they also work well if you just want a fast sell. Recently, the Los Angeles Times had an article on auctions, but you can do your own auction through a licensed real estate agent on a single property. The Times story focused on a large auction that was recently held at the Los Angeles Convention Center in which 92 properties were sold.
The wonderful idea about auctions for home sellers is that if the property is advertised and interest is generated, you can often get more than your minimum bid price which is awesome in this market. Even in the Times story a number of properties went for more than anticipated. For instance a home in Sherman Oaks which one attendee was willing to pay up to $650,000 for sold for $845,000. Another home in Santa Clarita which one person was willing to pay up to $480,000, sold for $580,000. A condo in Malibu of 895 square feet started with a bid of $399,000 and sold for $570,000.
You can see the possibilites that can emerge without letting the bank take back your home. You can renegotiate most terms these days, give it a try, but if not give me a call if you would like to discuss the option of a real estate auction.
The wonderful idea about auctions for home sellers is that if the property is advertised and interest is generated, you can often get more than your minimum bid price which is awesome in this market. Even in the Times story a number of properties went for more than anticipated. For instance a home in Sherman Oaks which one attendee was willing to pay up to $650,000 for sold for $845,000. Another home in Santa Clarita which one person was willing to pay up to $480,000, sold for $580,000. A condo in Malibu of 895 square feet started with a bid of $399,000 and sold for $570,000.
You can see the possibilites that can emerge without letting the bank take back your home. You can renegotiate most terms these days, give it a try, but if not give me a call if you would like to discuss the option of a real estate auction.
Thursday, May 17, 2007
San Clemente Real Estate Blog: Week of May 14th
Properties continue to come on the market while sales remain about equal with last year at this time. This week there were 76 properties featured on the South Area Preview List showing the growth in number of new listings as well as listings that agents are putting on the list for repreviews trying to generate renewed interest in their listings. Of these 76 properties, 32 of these have been on the market for at least 30+ days. This is a realistic indicator of what is going on locally in our marketplace.
Let's look more specifically at some individual communities and the properties that were featured this week. Dana Point had a total of 16 listings this week, 5 of which have been on the market for over 30 days. Of the 16 listings, two are condos and the remaining 14 are SFRs. Price ranges are from a low of $790,000 for a 3 bedroom, 2 bath condo with 1235 square feet (with some ocean view from two of the bedrooms) to a beautiful entertainers home on the bluff next to Pines Park in Capo Beach. This 6 bedroom, 7 bath home with pool on a unique piece of property is on the market using value range pricing of between $6,200,000 to $6,750,876. This is definitely an amazing location and a beautifully comfortable home with a mother-in-law suite.
Laguna Hills real estate only had two listings on our preview sheet this week, one condo and one SFR. The 3 bedroom, 2 bath condo is on the market at $665,000 with 2035 square feet and the SFR has 4 bedrooms, 3 baths with 2843 square feet on the market for $1,324,999.
San Clemente real estate continues to show potential. This week there were a total of 35 properties on the preview sheet. This includes 9 listings in Talega that range in price from a low of $729,900 for a 3 bedroom, 2.5 bath home with 2000 square feet; to $2,399,000 for a 6 bedroom, 6.5 bath home with 5917 square feet home in the community of Lucia on a 17,000 square foot lot! A couple of properties to note is a beautiful custom home with unbelievable upgrades including a built-in Viking refrigerator in the garage, Venetian Plaster on all of the walls, and limestone flooring. This home has 3 bedrooms, 3.5 baths with a nice bonus room for a total of 3600 square feet on an 11,000 square foot lot for $1,649,000.
A really great home value in San Clemente is a 3 bedroom, 2 bath detached pool home with 1239 square feet priced at $710,000. The pool is beautiful and the home needs a little TLC but is a great buy for a nice neighborhood. Another 'Ole Hanson was on repreview this week which is a 2 bedroom, 2.5 bath with 3100 square feet build in 1929. This property has the property tax reduction on it where property taxes are $3,500 per year, which is a steal for a home on the market for $2,687,500 with ocean views.
San Juan Capistrano had 19 properties on preview this week including 6 condos and 13 SFRs with only two properties having been on the market for over 30 days. The price ranges on SFRs this week were from the low of $582,000 for a 2 bedroom, 2 bath home with 1400 square feet to a high of $1,879,000 for 5 bedrooms, 4.5 baths with 4000 square feet. Condo price ranges were on the low from $331,900 for a 2 bedroom, 1 bath unit with 834 square feet to $749,000 for a 4 bedroom, 2.5 bath unit with 1737 square feet. We actually had two condos this week on the market for under $400,000! Both of these units would make great income properties.
The last two properties on the Preview Sheet this week included a mobile home in the Shorecliff Mobile Home Park, that sits high on a corner lot with a great view priced at $449,000 for a top-of-the-line Viking double wide and you do own the land! This is a senior park and one of the nicer ones. There is also a view lot (19,000 square feet) with 200 feet of street frontage on the market in San Juan Capistrano for $1,325,000.
Let's look more specifically at some individual communities and the properties that were featured this week. Dana Point had a total of 16 listings this week, 5 of which have been on the market for over 30 days. Of the 16 listings, two are condos and the remaining 14 are SFRs. Price ranges are from a low of $790,000 for a 3 bedroom, 2 bath condo with 1235 square feet (with some ocean view from two of the bedrooms) to a beautiful entertainers home on the bluff next to Pines Park in Capo Beach. This 6 bedroom, 7 bath home with pool on a unique piece of property is on the market using value range pricing of between $6,200,000 to $6,750,876. This is definitely an amazing location and a beautifully comfortable home with a mother-in-law suite.
Laguna Hills real estate only had two listings on our preview sheet this week, one condo and one SFR. The 3 bedroom, 2 bath condo is on the market at $665,000 with 2035 square feet and the SFR has 4 bedrooms, 3 baths with 2843 square feet on the market for $1,324,999.
San Clemente real estate continues to show potential. This week there were a total of 35 properties on the preview sheet. This includes 9 listings in Talega that range in price from a low of $729,900 for a 3 bedroom, 2.5 bath home with 2000 square feet; to $2,399,000 for a 6 bedroom, 6.5 bath home with 5917 square feet home in the community of Lucia on a 17,000 square foot lot! A couple of properties to note is a beautiful custom home with unbelievable upgrades including a built-in Viking refrigerator in the garage, Venetian Plaster on all of the walls, and limestone flooring. This home has 3 bedrooms, 3.5 baths with a nice bonus room for a total of 3600 square feet on an 11,000 square foot lot for $1,649,000.
A really great home value in San Clemente is a 3 bedroom, 2 bath detached pool home with 1239 square feet priced at $710,000. The pool is beautiful and the home needs a little TLC but is a great buy for a nice neighborhood. Another 'Ole Hanson was on repreview this week which is a 2 bedroom, 2.5 bath with 3100 square feet build in 1929. This property has the property tax reduction on it where property taxes are $3,500 per year, which is a steal for a home on the market for $2,687,500 with ocean views.
San Juan Capistrano had 19 properties on preview this week including 6 condos and 13 SFRs with only two properties having been on the market for over 30 days. The price ranges on SFRs this week were from the low of $582,000 for a 2 bedroom, 2 bath home with 1400 square feet to a high of $1,879,000 for 5 bedrooms, 4.5 baths with 4000 square feet. Condo price ranges were on the low from $331,900 for a 2 bedroom, 1 bath unit with 834 square feet to $749,000 for a 4 bedroom, 2.5 bath unit with 1737 square feet. We actually had two condos this week on the market for under $400,000! Both of these units would make great income properties.
The last two properties on the Preview Sheet this week included a mobile home in the Shorecliff Mobile Home Park, that sits high on a corner lot with a great view priced at $449,000 for a top-of-the-line Viking double wide and you do own the land! This is a senior park and one of the nicer ones. There is also a view lot (19,000 square feet) with 200 feet of street frontage on the market in San Juan Capistrano for $1,325,000.
Tuesday, May 15, 2007
San Clemente Real Estate: Steps To The Beach!
This literally is "steps to the beach" from this property located on Beach Road. This would make a great family weekend retreat or a fabulous piece of income property. Call me to find out more...
Thursday, May 10, 2007
San Clemente Real Estate Blog
This week, we had 72 properties on the South Area preview sheet. If I talked about a huge inventory last week, it is continuing to grow rapidly. I am very dismayed to see so many properties that are coming on the market remain overpriced, often by hundreds of thousands of dollars. I previewed one property in San Clemente yesterday that in all honesty was $500,000 to $600,000 overpriced! Nice property if you don't mind listening to school age children on the playground all day long, but not for almost $1.9 million!
Short sales are increasing and the foreclosures are going to continue to grow if you can't sell quickly. One option for a fast sale is always an auction. Here in Southern California our real estate market is not very familiar with the concept of auctions, but in other parts of the country auctions are a primary method of selling real estate. Types of auctions vary, but they are growing in popularity for distressed sellers. Usually once the auction is advertised the entire process takes less than 30 days. The seller can set the minimum bid price, and yes, commissions must still be paid; but often with a well trained auctioneer, and the right publicity, you can end up with more money than through a traditional sale. If an auctions sounds like something that would work for you, please give me a call and I can help.
Dana Point had 17 properties on the preview sheet this week, 16 SFRs and one condo. Of these 6 properties have been on the market for over 30 days. Prices range from 4795,000 for a 3 bedroom, 2 bath home with 1527 square feet in Dana Knolls to $3,700,876 for a 4405 square foot home with 4 bedrooms, 5.5 baths on the 12th green of the Monarch Beach Links. There are also a couple of interesting properties on the market on Beach Road, that could be great income property - or its an awesome location to re-build your dream home with sand right outside your back door.
San Juan Capistrano had 18 properties on the preview sheet this week including 13 SFRs and 5 condos. Nine of which have been on the market for over 30 days. The lowest priced condo is $331,900 for 2 bedrooms, 1 bath, 834 square feet. The most expensive property this week is a 5 bedroom, 5 bath SFR in Marbella Country Club with 5514 square feet.
San Clemente had 34 properties this week on the preview sheet, including 5 condos and 29 SFRs, 13 of which have been on the market for over 30 days including one SFR that has been on the market for 538 days! There are 10 listings on preview this week in Talega. From the lowest to the highest, this weeks feature includes a 2 bedroom, 2 bath condo with 1100 square feet for $569,000 and the most expensive is a 1928 Ole Hansen with 3 bedrooms, 2 baths and 2415 square feet value range priced at $2,199,000 to $2,379,000. This is a fabulous piece of property - great lot but the Ole Hansen needs a ton of work. If you have a vision for owning one of these unique properties you probably won't find a better lot - the price is high for the work the property needs but there is unbelievable potential.
Short sales are increasing and the foreclosures are going to continue to grow if you can't sell quickly. One option for a fast sale is always an auction. Here in Southern California our real estate market is not very familiar with the concept of auctions, but in other parts of the country auctions are a primary method of selling real estate. Types of auctions vary, but they are growing in popularity for distressed sellers. Usually once the auction is advertised the entire process takes less than 30 days. The seller can set the minimum bid price, and yes, commissions must still be paid; but often with a well trained auctioneer, and the right publicity, you can end up with more money than through a traditional sale. If an auctions sounds like something that would work for you, please give me a call and I can help.
Dana Point had 17 properties on the preview sheet this week, 16 SFRs and one condo. Of these 6 properties have been on the market for over 30 days. Prices range from 4795,000 for a 3 bedroom, 2 bath home with 1527 square feet in Dana Knolls to $3,700,876 for a 4405 square foot home with 4 bedrooms, 5.5 baths on the 12th green of the Monarch Beach Links. There are also a couple of interesting properties on the market on Beach Road, that could be great income property - or its an awesome location to re-build your dream home with sand right outside your back door.
San Juan Capistrano had 18 properties on the preview sheet this week including 13 SFRs and 5 condos. Nine of which have been on the market for over 30 days. The lowest priced condo is $331,900 for 2 bedrooms, 1 bath, 834 square feet. The most expensive property this week is a 5 bedroom, 5 bath SFR in Marbella Country Club with 5514 square feet.
San Clemente had 34 properties this week on the preview sheet, including 5 condos and 29 SFRs, 13 of which have been on the market for over 30 days including one SFR that has been on the market for 538 days! There are 10 listings on preview this week in Talega. From the lowest to the highest, this weeks feature includes a 2 bedroom, 2 bath condo with 1100 square feet for $569,000 and the most expensive is a 1928 Ole Hansen with 3 bedrooms, 2 baths and 2415 square feet value range priced at $2,199,000 to $2,379,000. This is a fabulous piece of property - great lot but the Ole Hansen needs a ton of work. If you have a vision for owning one of these unique properties you probably won't find a better lot - the price is high for the work the property needs but there is unbelievable potential.
San Clemente Real Estate Update May 1st, 2007
San Clemente real estate and the surrounding areas just keeps getting busier as we move through Spring. There were 61 properties on the South Area preview sheet for the first week in May. Dana Point has 8 listings on the preview sheet (one condo and 7 single family residences (SFR)) ranging in price from $639,000 for a 2 bedroom, 2 bath condo to $2,849,876 for a 3 bedroom, 3 bath in Monarch Beach.
San Clemente has 45 properties including 2 mobile homes. There were 10 condos and 33 SFRs. Out of this total number for San Clemente, Talega had 13 properties on preview. Twelve of the total San Clemente listings have been on the market for 30+ days. This means we are still seeing many properties overpriced. Many times an agent puts a property back on preview once there have been price reductions to attempt to recapture interest. With the growing inventory that we have, it is always a more prudent move to price your property correctly the first time. This is not always easy in this market, but be realistic - you cannot use comparison properties of six months ago.
San Juan Capistrano had 11 properties on the preview sheet, all of which are SFRs and only 2 being listings that are over 30+ days on the market. Prices range in San Juan from $589,000 for a 4 bedroom, 2 bath Harbor Lane home with 1342 square feet to $2,099,000 for a 4 bedroom, 4 bath home with 4900 square feet on the 6th fairway of the Marbella Country Club. This property was just reduced $200,000 and has now been on the market for 37 days. Wake up and price your property for the market or don't bother to list it.
San Clemente has 45 properties including 2 mobile homes. There were 10 condos and 33 SFRs. Out of this total number for San Clemente, Talega had 13 properties on preview. Twelve of the total San Clemente listings have been on the market for 30+ days. This means we are still seeing many properties overpriced. Many times an agent puts a property back on preview once there have been price reductions to attempt to recapture interest. With the growing inventory that we have, it is always a more prudent move to price your property correctly the first time. This is not always easy in this market, but be realistic - you cannot use comparison properties of six months ago.
San Juan Capistrano had 11 properties on the preview sheet, all of which are SFRs and only 2 being listings that are over 30+ days on the market. Prices range in San Juan from $589,000 for a 4 bedroom, 2 bath Harbor Lane home with 1342 square feet to $2,099,000 for a 4 bedroom, 4 bath home with 4900 square feet on the 6th fairway of the Marbella Country Club. This property was just reduced $200,000 and has now been on the market for 37 days. Wake up and price your property for the market or don't bother to list it.
Tuesday, May 1, 2007
Real Estate Update
According to a recent article in the Los Angeles Times the housing market will continue to soften because prices are too high while the inventory is high. Some communities have at least a nine month supply of homes on the market. The sub-prime mortgage problems have led to some of these conditions as well as severe weather in the eastern part of the country. The National Association of Realtors announced the sharpest month-to-month fall in home sales since January 1989.
Some California housing markets are stronger than others with the Bay Area being the healthiest and the weakest is in the Inland Empire and the Central Valley. Southern California is mostly holding its own ground with the median price in March of this year being $505,000 up 4.6% over the previous March 2006. We are moving into the busy season and the inventory will continue to grow through the end of the summer when sellers either "throw in the towel" or cut their prices.
If you don't have to sell, this is probably the time to ride out the market. If you have to sell, carefully watch the trends in your neighborhood and be willing to enter the market at a competitive price. The first three weeks of a new listing is critical in generating interest from other agents and buyers. Don't make the mistake of entering the market too high to reduce your price and then be forgotten.
Some California housing markets are stronger than others with the Bay Area being the healthiest and the weakest is in the Inland Empire and the Central Valley. Southern California is mostly holding its own ground with the median price in March of this year being $505,000 up 4.6% over the previous March 2006. We are moving into the busy season and the inventory will continue to grow through the end of the summer when sellers either "throw in the towel" or cut their prices.
If you don't have to sell, this is probably the time to ride out the market. If you have to sell, carefully watch the trends in your neighborhood and be willing to enter the market at a competitive price. The first three weeks of a new listing is critical in generating interest from other agents and buyers. Don't make the mistake of entering the market too high to reduce your price and then be forgotten.
Monday, April 30, 2007
San Clemente Real Estate Update Blog
This past week there were a total of 59 properties on the South Area Preview sheet between San Clemente, Dana Point, San Juan Capistrano, and Laguna Niguel. I continue to see many properties that remain overpriced considering the current market. Sellers please note, the market has changed. I know that according to a Los Angeles Time/Bloomberg poll earlier in the month, a third of homeowners polled predicted home values in their neighborhood to increase in the next six months, while only 16% anticipated a decrease in values. "Call it foolish faith or bold optimism, the forecast is at odds with the downward trend of home prices." per David Streitfeld, a Times Staff Writer. Although California and more specifically Orange County do not follow the same trends as the rest of the country, we are seeing the market slower than in the past with buyers looking for good deals. The homes that sell are competitively priced for their marketplace.
Dana Point had a total of 14 properties featured with seven of these having been on the market for 30+ days. Featured properties range from a two bedroom, 2.5 bath townhome with 1820 square feet for $645,000 to a beautiful 8200 square foot home in Ritz Cove with fabulous white water views from three floors for $12,999,999.
San Clemente had a total of 36 properties broken out between 29 single family residences (SFR) and 7 condos. Of this total, 13 have been on the market for 30+ days. This week Talega had a total of 8 listings on preview (six of which are new listings) and Sea Pointe Estates also had 8 properties on preview, with only one being a new listing. Prices ranged from a low of $558,621 for a two bedroom, two bath condo with 1409 square feet to $3,300,000 in Cyprus Cove for five bedrooms, 5.5 baths with 5495 square feet with ocean views. I still walk through homes that are priced over a million that are at least $100,000 over priced. Do your improvements prior to placing your home on the market.
San Juan Capistrano had only six listings on the preview sheet this past week, 2 condos and 4 SFRs. Only one has been on the market for longer than 30 days. This week there are two SFRs for under $500,000 and one condo.
Should you be interested in a market evaluation, give me a call.
Dana Point had a total of 14 properties featured with seven of these having been on the market for 30+ days. Featured properties range from a two bedroom, 2.5 bath townhome with 1820 square feet for $645,000 to a beautiful 8200 square foot home in Ritz Cove with fabulous white water views from three floors for $12,999,999.
San Clemente had a total of 36 properties broken out between 29 single family residences (SFR) and 7 condos. Of this total, 13 have been on the market for 30+ days. This week Talega had a total of 8 listings on preview (six of which are new listings) and Sea Pointe Estates also had 8 properties on preview, with only one being a new listing. Prices ranged from a low of $558,621 for a two bedroom, two bath condo with 1409 square feet to $3,300,000 in Cyprus Cove for five bedrooms, 5.5 baths with 5495 square feet with ocean views. I still walk through homes that are priced over a million that are at least $100,000 over priced. Do your improvements prior to placing your home on the market.
San Juan Capistrano had only six listings on the preview sheet this past week, 2 condos and 4 SFRs. Only one has been on the market for longer than 30 days. This week there are two SFRs for under $500,000 and one condo.
Should you be interested in a market evaluation, give me a call.
Wednesday, April 18, 2007
San Clemente Real Estate Update
Last week I was out of town for several days with the kids being out of school on Spring break so I didn't post an update. There were only about 28 homes on preview which is less than half that are usually on and many were re-previews.
Since last week was slow, this week made up for it with 68 properties on the South Area Preview sheet for the week of April 16, 2007. The numbers were broken out into the following communities: 37 properties on preview in San Clemente with 9 properties having been on the market for over 30 days. San Juan Capistrano and Dana Point each have 14 properties on preview this week, with San Juan having 4 properties that fall into the 30 day + category and Dana Point having 6 properties falling into the 30 day + category. The preview sheet was rounded out by 3 new listings in Laguna Niguel.
The Laguna Niguel listings were comprised of 2 single family residences (SFR) and 1 condo for $645,000 with 3 bedrooms and 2 baths and 1553 square feet. The SFRs include a 4 bedroom 2.5 bath home with 2084 square feet for $989,000 with the other having very similar square feet with the same number of bedrooms and baths for $1,019,000. This home is a single level in Somerset Point.
Of the eight new listings in Dana Point this week only one is a condo. This is a 3 bedroom, 2.5 bath unit with 1711 square feet on the market for $619,900. The remaining 7 new listings that are SFRs range in price from a low of $850,000 to a high of $1,899,876 in Emerald Ridge which is a 3 bedroom, 2.5 bath single level home with 2748 square feet.
San Clemente properties that include 28 new listings, 8 listings are in Talega. The Talega listings include 2 condos - one in Alassio on the market for $599,000 for 3 bedrooms and 2 baths with 1598 square feet end unit townhome and one in Santalana for $725,000 also with 3 bedrooms and 2 baths but with 1881 square feet. The Santalana model is also an end unit townhome with a nice size yard. The Talega SFRs that are new listings range in price from $790,000 for an Amalfi with 3 bedrooms and 2.5 baths encompassing 2200 square feet to a 5000 square foot Vizcaya home on the 6th hole of the Fred Couples Chamionship Golf Course with 5 bedrooms and 4.5 baths. Of note there is also a Careyes home on preview that is up for auction. This home has a list price of $1,995,000 and is on the 16 hole of the same golf course. This home has 5000 square feet with 5 bedrooms and 5.5 baths and was built in 2005.
Other San Clemente real estate that is new on the market for preview this week includes a new home in Cyprus Cove that has 5 bedrooms, 5.5 baths with over 5400 square feet on the market for $3,300,000. If freeway noise doesn't bother you, there is a 3 bedroom, 2.5 bath home with 2148 square feet for $979,000. A home with potential in Harbor View with 3 bedrooms, 2 baths with 1628 square feet for $837,500. Add a second story and you could have amazing ocean views.
One overpriced property that I went through today is a 3 bedroom, 2.5 bath home in Hillcrest that does have great ocean views but needs too much work for the price of $1,125,000. The home is staged so it is deceptive and is a single level. Another listing that has a great feel without being staged is in El Encanto, a single level 4 bedroom, 3 bath home with 2519 square feet that is on the market for $1,125,000. This is a great neighborhood if you don't mind having the county landfill one hill behind you. This home shows well and has a great private backyard.
San Juan Capistrano has ten new listings this week ranging in price from $559,000 for a SFR in the Village with 3 bedrooms, 2 baths and 1268 square feet to a 6 bedroom, 5.5 bath home on Old San Juan Road with 5800 square feet, pool and spa for $2,799,000. Watch out on this property the color scheme may repluse you, but the home has some wonderful features this warm gate guarded community. Of particular note, one property really stood out in San Juan today. This is a 3 bedroom, 2 bath home with 2000 square feet that is on the market for $975,000 that the detail and decorating will knock you over. A beautiful private yard with salt-water spa, and upgrades galore! This is worth seeing if it is in your price range. The master is upstairs with the other two bedrooms on the ground floor. Attention to detail and decorating will amaze you.
Please give me a call for more specific information about any property that sounds interesting or that you would like to know what else is hot and what is not in San Clemente and surrounding areas real estate.
Since last week was slow, this week made up for it with 68 properties on the South Area Preview sheet for the week of April 16, 2007. The numbers were broken out into the following communities: 37 properties on preview in San Clemente with 9 properties having been on the market for over 30 days. San Juan Capistrano and Dana Point each have 14 properties on preview this week, with San Juan having 4 properties that fall into the 30 day + category and Dana Point having 6 properties falling into the 30 day + category. The preview sheet was rounded out by 3 new listings in Laguna Niguel.
The Laguna Niguel listings were comprised of 2 single family residences (SFR) and 1 condo for $645,000 with 3 bedrooms and 2 baths and 1553 square feet. The SFRs include a 4 bedroom 2.5 bath home with 2084 square feet for $989,000 with the other having very similar square feet with the same number of bedrooms and baths for $1,019,000. This home is a single level in Somerset Point.
Of the eight new listings in Dana Point this week only one is a condo. This is a 3 bedroom, 2.5 bath unit with 1711 square feet on the market for $619,900. The remaining 7 new listings that are SFRs range in price from a low of $850,000 to a high of $1,899,876 in Emerald Ridge which is a 3 bedroom, 2.5 bath single level home with 2748 square feet.
San Clemente properties that include 28 new listings, 8 listings are in Talega. The Talega listings include 2 condos - one in Alassio on the market for $599,000 for 3 bedrooms and 2 baths with 1598 square feet end unit townhome and one in Santalana for $725,000 also with 3 bedrooms and 2 baths but with 1881 square feet. The Santalana model is also an end unit townhome with a nice size yard. The Talega SFRs that are new listings range in price from $790,000 for an Amalfi with 3 bedrooms and 2.5 baths encompassing 2200 square feet to a 5000 square foot Vizcaya home on the 6th hole of the Fred Couples Chamionship Golf Course with 5 bedrooms and 4.5 baths. Of note there is also a Careyes home on preview that is up for auction. This home has a list price of $1,995,000 and is on the 16 hole of the same golf course. This home has 5000 square feet with 5 bedrooms and 5.5 baths and was built in 2005.
Other San Clemente real estate that is new on the market for preview this week includes a new home in Cyprus Cove that has 5 bedrooms, 5.5 baths with over 5400 square feet on the market for $3,300,000. If freeway noise doesn't bother you, there is a 3 bedroom, 2.5 bath home with 2148 square feet for $979,000. A home with potential in Harbor View with 3 bedrooms, 2 baths with 1628 square feet for $837,500. Add a second story and you could have amazing ocean views.
One overpriced property that I went through today is a 3 bedroom, 2.5 bath home in Hillcrest that does have great ocean views but needs too much work for the price of $1,125,000. The home is staged so it is deceptive and is a single level. Another listing that has a great feel without being staged is in El Encanto, a single level 4 bedroom, 3 bath home with 2519 square feet that is on the market for $1,125,000. This is a great neighborhood if you don't mind having the county landfill one hill behind you. This home shows well and has a great private backyard.
San Juan Capistrano has ten new listings this week ranging in price from $559,000 for a SFR in the Village with 3 bedrooms, 2 baths and 1268 square feet to a 6 bedroom, 5.5 bath home on Old San Juan Road with 5800 square feet, pool and spa for $2,799,000. Watch out on this property the color scheme may repluse you, but the home has some wonderful features this warm gate guarded community. Of particular note, one property really stood out in San Juan today. This is a 3 bedroom, 2 bath home with 2000 square feet that is on the market for $975,000 that the detail and decorating will knock you over. A beautiful private yard with salt-water spa, and upgrades galore! This is worth seeing if it is in your price range. The master is upstairs with the other two bedrooms on the ground floor. Attention to detail and decorating will amaze you.
Please give me a call for more specific information about any property that sounds interesting or that you would like to know what else is hot and what is not in San Clemente and surrounding areas real estate.
Friday, April 13, 2007
Wednesday, April 11, 2007
San Clemente and Vicinity Real Estate Update for the Week of April 4th, 2007
This week there were a total of 50 homes on the South Area Preview Sheet plus there were a few write-ins at the marketing meeting. The homes broke out into the following areas: Dana Point; 7 properties, 6 single family residences (SFR) and 1 condo; Laguna Niguel; 1 SFR; San Clemente; 32 total properties, 28 SFR and 5 condos; and San Juan Capistrano with 10 properties; 8 SFRs and 2 condos.
Let's start with San Juan this week. Out of the total 10 properties, two have been on the market for over 30 days. The two condos ranged in price from $349,900 for a 2 bedroom, 1 bath with 834 square feet to $695,000 for a 2 bedroom, 2.5 bath unit with 1580 square feet. SFRs ranged from a low of $579,900 for a 4 bedroom, 2.5 bath with 1624 square feet to a high of $2,795,000 for a 3 bedroom, 4.5 bath property with 4850 square feet. Of particular note there is a nice horse property in Hidden Valley on the market for $2,275,000 that has 4 bedrooms, 2.5 baths at 2572 square feet with an interesting floor plan, raised roof barn and riding ring at the end of a cul-de-sac.
San Clemente had the most listings this week with 32 and 8 of these have been on the market for over 30 days. There is a 2 bedroom, 2 bath condo on the market with 823 square feet, ocean view for $465,000 as well as a 2 bedroom, 2.75 bath penthouse on the market with 1902 square feet for $1,950,000. Single family homes range in price from a low of $569,900 for a 2 bedroom, 2 bath - 1250 square feet in Villagio to a beautiful home in Misty Ridge with 4 bedrooms, 3.5 baths and 3841 square feet for $2,295,000. Nice location, nice views and a beautiful peaceful yard. This one has a totally state-of-the-art kitchen and a downstairs master. Talega has 8 listings this week on preview ranging from $920,000 for a 5 bedroom, 3 bath home in Seaside with 2635 square feet on an 11,000 square foot lot to a Montellano plan 3 with 5 bedrooms, 5.5 baths at 4700 square feet for $1,650,000.
Laguna Niguel has only one listing in Bear Brand Estates that is 5 bedrooms, 4 baths, 3422 square feet for $1,798,800.
Dana Point has 4 properties that are on repreview which leaves only 3 new listings on preview this week. This includes a 2 bedroom, 2 bath condo with 870 square feet for $415,000. Two of the SFRs are repreviews that are new construction finished last year. One home of note is a new listing 6 bedrooms, 6 baths, four car garage street-to-street lot with a very unusual floor plan. This is the ultimate party or fund-raising house and is on the market at $2,999,900. Another noteworthy home is in Emerald Ridge, 3 bedrooms, 2.5 baths, 2400 square feet on a very private and quiet cul-de-sac with views of the ocean. This home boasts a beautiful pool and spa in a pleasing peaceful environment at a price of $2,195,000.
If you are thinking of selling or are in the market to buy, I would love to talk to you about what is going on in our local market.
Let's start with San Juan this week. Out of the total 10 properties, two have been on the market for over 30 days. The two condos ranged in price from $349,900 for a 2 bedroom, 1 bath with 834 square feet to $695,000 for a 2 bedroom, 2.5 bath unit with 1580 square feet. SFRs ranged from a low of $579,900 for a 4 bedroom, 2.5 bath with 1624 square feet to a high of $2,795,000 for a 3 bedroom, 4.5 bath property with 4850 square feet. Of particular note there is a nice horse property in Hidden Valley on the market for $2,275,000 that has 4 bedrooms, 2.5 baths at 2572 square feet with an interesting floor plan, raised roof barn and riding ring at the end of a cul-de-sac.
San Clemente had the most listings this week with 32 and 8 of these have been on the market for over 30 days. There is a 2 bedroom, 2 bath condo on the market with 823 square feet, ocean view for $465,000 as well as a 2 bedroom, 2.75 bath penthouse on the market with 1902 square feet for $1,950,000. Single family homes range in price from a low of $569,900 for a 2 bedroom, 2 bath - 1250 square feet in Villagio to a beautiful home in Misty Ridge with 4 bedrooms, 3.5 baths and 3841 square feet for $2,295,000. Nice location, nice views and a beautiful peaceful yard. This one has a totally state-of-the-art kitchen and a downstairs master. Talega has 8 listings this week on preview ranging from $920,000 for a 5 bedroom, 3 bath home in Seaside with 2635 square feet on an 11,000 square foot lot to a Montellano plan 3 with 5 bedrooms, 5.5 baths at 4700 square feet for $1,650,000.
Laguna Niguel has only one listing in Bear Brand Estates that is 5 bedrooms, 4 baths, 3422 square feet for $1,798,800.
Dana Point has 4 properties that are on repreview which leaves only 3 new listings on preview this week. This includes a 2 bedroom, 2 bath condo with 870 square feet for $415,000. Two of the SFRs are repreviews that are new construction finished last year. One home of note is a new listing 6 bedrooms, 6 baths, four car garage street-to-street lot with a very unusual floor plan. This is the ultimate party or fund-raising house and is on the market at $2,999,900. Another noteworthy home is in Emerald Ridge, 3 bedrooms, 2.5 baths, 2400 square feet on a very private and quiet cul-de-sac with views of the ocean. This home boasts a beautiful pool and spa in a pleasing peaceful environment at a price of $2,195,000.
If you are thinking of selling or are in the market to buy, I would love to talk to you about what is going on in our local market.
Tuesday, April 3, 2007
Thursday, March 29, 2007
South Orange County Real Estate Update A/O 3/26/07
This week there were another 60 properties on the South Area Preview sheet. A number were repreviews as well as plenty of new listings. Some are great properties at decent prices but there are still some real funky properties that are way over price. For instance, there is a new listing in Monarch Beach. The property is a 3 bedroom/3.5 bath on one level, but the floor plan is funky, floors need to be refinished, carpet needs to be replaced, and the price is way over the top. After looking at several other view properties, this has to be the most overpriced property I have seen in some time. I guess some people don't listen to the media!
Let's look at other Dana Point properties, which include 13 listings on the preview sheet for this week. There were 9 single family homes and 4 condos. A total of three of these listings have been on the market for over 30 days. On the low end, there is a new condo listing at $454,000 for a 1 bedroom, 1.25 bath with 935 square feet on ground level. The high end condo this week is on the market for $1,200,000 for a 3 bedroom, 2.5 bath with 1980 square feet.
Single family residences (SFR) had a low of $799,000 for 3 bedrooms and 2.5 baths with 2000 square feet, and there is another property at the same price point with 3 bedrooms and 2 baths with 1000 square feet but is an ocean view beach cottage. The high end in SFRs for Dana Point this week is a really great listing on Camino Capistrano close to the San Clemente border on the bluffs with a fabulous ocean, coastline, and white water views. Nice home with a great floorplan that maximizes the view. This home has 5 bedrooms and 3 baths with a total of 4293 square feet on the market for $4,950,000.
Laguna Niguel only had two listings this week in our area, one a condo for $925,000 for a 3 bedroom, 2 bath at 1658 square feet and a SFR that has been on the market for over 30 days at $1,800,000 with 4 bedrooms, 3.5 baths and 2600 square feet.
San Clemente has a total of 33 properties on the preview sheet this week, 9 condos and 24 SFRs, with 12 properties having been on the market for over 30 days. The low end condo this week is on the market for $308,000 for a one bedroom, one bath with 680 square feet in the Vista Pacifica development in Rancho San Clemente. The high end condo is on the market for $734,000 for a 2 bedroom, 2 bath single story townhome with 1125 square feet with an ocean view. Talega only had 7 homes on the preview sheet this week with the low home being priced at $739,999 for a 3 bedroom, 2.5 bath Solana model with 1678 square feet. The high end for Talega is a 5 bedroom, 4.5 bath Montellano model with 4300 square feet. The high end for San Clemente this week is a 5 bedroom, 5 bath home that sits on 3.5 acres that includes vineyards. The home has 4700 square feet and is priced at $2,200,000. A couple of homes to note in San Clemente this week include a listing in Del Cabo, this is a nice corner lot, with a real nice feel that is priced well at $1,199,900 for 5 bedrooms, 3 baths, 3 car garage with 3087 square feet. There is a nice listing with an upside down home for $1,695,000. Nice house if you don't mind having your kitchen upstairs. At least this house installed a dumb waiter from the ground floor so you don't have to carry your groceries up the stairs. Ocean and canyon views for $1,695,000 for 4 bedrooms and 3.5 baths with a total of 3860 square feet. Another property to note is has beautiful ocean views from a well thought out home that has 4 bedrooms and 3 baths and 2900 square feet. This one has a huge lot with room in the backyard for a pool.
San Juan Capistrano this week only has 12 properties on preview all SFRs. The low end includes a 3 bedroom, 2 bath in a 55+ community for $599,000 and a 3 bedroom, 2 bath in Mission glen for $709,000. The high end includes a 6 bedroom, 5.5 bath home with 5800 square feet for $3,399,000.
If you are priced competitively for this market the buyers are out there. Should you have any questions regarding a specific property or want more information, please do not hesitate to give me a call or send me an email.
Let's look at other Dana Point properties, which include 13 listings on the preview sheet for this week. There were 9 single family homes and 4 condos. A total of three of these listings have been on the market for over 30 days. On the low end, there is a new condo listing at $454,000 for a 1 bedroom, 1.25 bath with 935 square feet on ground level. The high end condo this week is on the market for $1,200,000 for a 3 bedroom, 2.5 bath with 1980 square feet.
Single family residences (SFR) had a low of $799,000 for 3 bedrooms and 2.5 baths with 2000 square feet, and there is another property at the same price point with 3 bedrooms and 2 baths with 1000 square feet but is an ocean view beach cottage. The high end in SFRs for Dana Point this week is a really great listing on Camino Capistrano close to the San Clemente border on the bluffs with a fabulous ocean, coastline, and white water views. Nice home with a great floorplan that maximizes the view. This home has 5 bedrooms and 3 baths with a total of 4293 square feet on the market for $4,950,000.
Laguna Niguel only had two listings this week in our area, one a condo for $925,000 for a 3 bedroom, 2 bath at 1658 square feet and a SFR that has been on the market for over 30 days at $1,800,000 with 4 bedrooms, 3.5 baths and 2600 square feet.
San Clemente has a total of 33 properties on the preview sheet this week, 9 condos and 24 SFRs, with 12 properties having been on the market for over 30 days. The low end condo this week is on the market for $308,000 for a one bedroom, one bath with 680 square feet in the Vista Pacifica development in Rancho San Clemente. The high end condo is on the market for $734,000 for a 2 bedroom, 2 bath single story townhome with 1125 square feet with an ocean view. Talega only had 7 homes on the preview sheet this week with the low home being priced at $739,999 for a 3 bedroom, 2.5 bath Solana model with 1678 square feet. The high end for Talega is a 5 bedroom, 4.5 bath Montellano model with 4300 square feet. The high end for San Clemente this week is a 5 bedroom, 5 bath home that sits on 3.5 acres that includes vineyards. The home has 4700 square feet and is priced at $2,200,000. A couple of homes to note in San Clemente this week include a listing in Del Cabo, this is a nice corner lot, with a real nice feel that is priced well at $1,199,900 for 5 bedrooms, 3 baths, 3 car garage with 3087 square feet. There is a nice listing with an upside down home for $1,695,000. Nice house if you don't mind having your kitchen upstairs. At least this house installed a dumb waiter from the ground floor so you don't have to carry your groceries up the stairs. Ocean and canyon views for $1,695,000 for 4 bedrooms and 3.5 baths with a total of 3860 square feet. Another property to note is has beautiful ocean views from a well thought out home that has 4 bedrooms and 3 baths and 2900 square feet. This one has a huge lot with room in the backyard for a pool.
San Juan Capistrano this week only has 12 properties on preview all SFRs. The low end includes a 3 bedroom, 2 bath in a 55+ community for $599,000 and a 3 bedroom, 2 bath in Mission glen for $709,000. The high end includes a 6 bedroom, 5.5 bath home with 5800 square feet for $3,399,000.
If you are priced competitively for this market the buyers are out there. Should you have any questions regarding a specific property or want more information, please do not hesitate to give me a call or send me an email.
Subscribe to:
Posts (Atom)
