Owner: South OC Real Estate Tracker URL:http://www.southoctracker.com/ Join Date: Sat, 22 Sep 2007 12:04:12 -0500 Rating:0 Site Description: A blog dedicated to following trends and discussing the latest South Orange County, California news. Site statistics:Click here
New (more legitimate) Web address 2007-09-22 11:09:00 Per requests, South OC Real Estate Tracker has a new, easier-to-find home: http://www.southoctracker.com.All the content from the blog is already there, and I'm still using the same publishing tool - for now, at least. So, the only difference is the Web address.No need to update your bookmarks - even if you use the old address, it will automatically re-direct to the new site.Thanks for all the comments and suggestions along the way - I'm always developing new ways to improve the site.
Playing the price range game in Mission Viejo 2007-09-21 15:42:00 Not sure how this Mission
Viejo property managed to sell for $780k ($476 per sq ft) back in June 2006, but here we are now in September 2007, and it's back on the market with a huge asking price
range. If it goes for the top of the range, the owners will be hit with a pretty bad loss of more than $140,000. If it sells closer to the bottom of the range, well...27771 Golondrina, Mission Viejo, Calif., 92692Size: 4 beds, 2 baths, 1,640 sq ft (built in 1976)MLS: S505166 (8 days on Redfin)Asking price: $599,900-$674,876Income requirement*: $149,975Purchase price: $780,000Purchase date: 6/6/2006Other sales history: 9/25/1998: $291,0003/12/1990: $240,0002006 property taxes: $3,383Monthly HOA dues: $25Zestimate: $790,192Type: Single Family ResidenceStyle: TraditionalLot size: 4,950 sq ftFrom listing: Pool Home! With View. End of Cul De Sac. Light and bright! French Doors . family Room Fireplace. Award Winning Schools Great freeway access. Lake privilegesShort! And sweet. Here we go with the
A closer look: South OC home sales 2007-09-20 17:39:00 Here is some data we pulled off Trulia.com on the number of home sales in South
OC areas. Totals are at the bottom of the spreadsheet.FYI: The "change from previous period" column means the difference between the June-August '07 numbers and the March-May '07 numbers. YOY stands for year over year. The YOY percent change in the final row (area totals) is an average of percent changes for all the areas. Link to the spreadsheet here.Some quick notes on what the data are telling us:The number of houses sold during the past three months, when compared to both the previous three months and same period one year ago, is down virtually across the board in South OC. The two exceptions are: Laguna Beach (year-over-year increase of 4 properties sold) and San Clemente (year-over-year increase of 9 properties sold). Total difference between the number of properties sold in June-August 2007 compared to June-August 2006: -373.Ladera Ranch saw the greatest year-over-year decline (percentage wise) in Read more:closer
No guarantees 2007-09-20 16:28:00 The Redfin sales history on 23 Camino Silla says it all: Things got completely out of hand, and now this Talega property looks like it's an REO.6/13/2007: $779,0004/17/2006: $950,0003/30/2005: $810,00010/15/2003: $620,0003/07/2001: $357,000Other info:Current asking price: $719,000Days on Redfin: 57An intriguing element is the listing description: One of the very best values in the sought after city san clemente. Four bedrooms and a loft, 3 bathrooms. Upgrades throughout. Everything is close: the talega swim & athletic club,golf, parks etc... All this and the ocean is just down the street!! Home is being sold 'as-is' and 'where-is' without warranty. Come start living the beach lifestyle here in san clemente today...The as-is part is understandable. But "where-is?" What the heck does that mean - are they implying we can't buy the property, come over with some hardcore construction equipment, uproot the house right off its foundation, and then drive it up the 405 to a different
Turning back the clock in Talega 2007-09-19 12:35:00 Welcome to 2004. Actually, this listing is well, well beneath 2004 pricing. Will prices stabilize, or are we instead heading towards 2003 pricing?418 Camino Flora Vis, San Clemente, Calif., 92673Size: 4 beds, 2.5 baths, 2,344 sq ft (built in 2001)MLS: S494669 (81 days on Redfin)Asking price: $779,000Asking price/ sq ft: $332Purchase price: $880,000Purchase date: 7/26/2004Other sales history: 8/29/2001: $483,500ZipRealty price tracker: Price Reduced: 08/31/07 -- $925,000 to $779,0002006 property taxes: $11,626Monthly HOA dues: $149Zestimate: $1,011,051Type: Single Family ResidenceStyle: CraftsmanArea: TalegaLot size: 5,600 sq ftFrom listing: One of the nicer homes in farallon ridge on a very large, ocean-view lot. Great entertainer's back yard with built-in stone-stacked barbeque, firepit and other amenities. One of the best values in talega. Of course, we can't see this "great entertainer's back yard," since the only pictures on Redfin are of the exterior of the house and the commu
Something went terribly, terribly wrong 2007-09-18 16:15:00 How does $166,500 of imagined profit degenrate into the reality of at least a $186,940 loss? Easy: You're a home seller who needs to unload your property, but it won't move. So you keep cutting the price.27642 Daisyfield Drive, Laguna Niguel, Calif., 92677Size: 5 beds, 4.5 baths, 3,336 sq ft (built in 2005)MLS: S491643 (99 days on Redfin - join us as we celebrate the listing hitting the 100 days mark tomorrow!)Asking price: $1,349,000Asking price/ sq ft: $404Purchase price: $1,455,000Purchase date: 12/15/2005ZipRealty price tracker: Price Reduced: 07/15/07 -- $1,725,000 to $1,675,000Price Reduced: 07/27/07 -- $1,675,000 to $1,599,900Price Reduced: 08/07/07 -- $1,599,900 to $1,599,000Price Reduced: 08/30/07 -- $1,599,000 to $1,349,0002006 property taxes: $14,768HOA monthly dues: $155Type: Single Family ResidenceStyle: ContemporaryFrom listing: NEED AN OFFER NOW PLEASE! DROPPED $376,000 for QUICK SELL! MUST SALE THIS WEEK PLEASE BRING IN AN OFFER. Most LUXURIOUS section of SJH gated c
Time out 2007-09-17 19:51:00 We're taking a break from our conventional blogging format today, because Mondays are bad enough as it is without having to hear any negative real estate-related news. Instead, let's play a game: See if you can figure out which of the following five listing descriptions is the highest-priced property. All properties are located in South Orange County. Some of the descriptions are decently written, while others...others could have used some editing (hacking).Hint: Here are the asking prices of the properties: $711,000; $729,000; $759,500; $899,000; $1,049,990. Click on the MLS number after each description to go to the Redfin listing to check to see if you were right, or to read more about the property. Or, simply take a guess and scroll down to the bottom, beneath the picture, for the answer. LISTING 1: This is going to be a surprise, pergo floors, corian counter, custom mirrors,built in patio to form a big room overlooking the ocean. The views are truly panoramic of the ocean, isl
Flipper alert: Dana Point 2007-09-16 23:13:00 We've made the point a few times, but here it goes again: Yes, homebuilders may be hitting the panic button and are trying (hoping) to unload as much of their inventory as possible by slashing prices and adding incentives for buyers right now, but there remains an intrepid few who are looking to turn a quick profit by flipping OC real estate.This week's flip in the making takes us to Dana Point. Here are the details:34038 Selva Road #116, Dana Point, Calif., 92629Size: 2 beds, 2 baths, 1,000 sq ft (built in 1982)MLS: S491891 (97 days on Redfin)Asking price: $629,000Asking price/ sq ft: $629Purchase price: $555,000Purchase date: 1/12/20072006 property taxes paid: $1,251HOA dues: $370Type: CondominiumStyle: Cape CodFrom listing: What a Beautiful Remodel on OCEAN SIDE of PCH across from Salt Creek Beach, close to the Ritz Carlton and St. Regis! Kitchen has new appliances, new counter tops, garden window. Italian tile floors in kitchen, LR, D/R, and both patios. All new doors to patios. Read more:Flipper
Ring any bells? 2007-09-14 16:47:00 Here are some excerpts from a September article in the Los Angeles Times written by Michael Kinsley with the headline " The Heat's On in Housing: Too Many Americans Are Banking on Their Equity."Some notable quotes, with emphasis added to especially key points in bold:"The good burghers of Yonkers, N.Y., say that they are not racists for opposing the construction of public housing in their middle-class neighborhoods. They say that their real concern is real-estate values. Actually, I believe them. Or at least I find it plausible."According to one Yonkers real-estate agent, a three-bedroom house purchased for $18,000 to $30,000 in the mid-1950s would sell for 10 times as much today. For these homeowners, this unexpected bonanza is their nest egg. (Nationally, real estate is 60% to 70% of the average person's net worth.)...the real significance of the Yonkers episode may be to illustrate again how our society is being twisted and torn by the enormous run-up in real-estate prices."The m Read more:bells
High-end loss in Aliso Viejo 2007-09-14 10:57:00 Want some more proof that things are beginning to crack at the top of the OC housing market as well? Try this one on for size...36 Endless Vis, Aliso Viejo, Calif., 92656Size: 5 beds, 4.5 baths, 3,600 sq ft (built in 2000)MLS: S501452 (29 days on Redfin)Asking price: $1,299,900Asking price/ sq ft: $361Purchase price: $1,350,000Purchase date: 1/31/2006Other sales history: 5/30/2003: $830,0006/27/2001: $651,000Type: Single Family ResidenceStyle: OtherStories: Two LevelsLot size: 6,600 sq. ft.From listing: Excellent Value!! Fabulous Estate Home in the Exclusive Gated Oak View Enclave. Luxurious Interiors * Fabulous Floorplan * Elegant Long Driveway * Large Living Room w/ Soaring Ceilings+ Fireplace * Elegant Dining Room w/ French Doors * Gourmet Kitchen w/ Island +Stainless Steel Appl. * Family Room w/ Fireplace +Surround Sound Speakers * Pool Sized Backyard w/ Built-In BBQ * 5 Bedrms +Large Loft (could be used as 6th Bedrm) * Mainflr Bedrm w/ Private Bath * Master Suite w/ Dual Walk-In
Every house has a story 2007-09-12 19:30:00 And what an amazing tale this Lake Forest property could tell. This two-bedroom, 1,222 sq ft property, located at 21521 Kenmare Drive, was purchased in January for a whopping $650,000. Now, just eight months later, the property is already headed towards foreclosure.The owner is hoping to eject before the bank takes it, and has this property listed for sale at $469,000. If it sold for this price, and we subtract 6 percent for selling costs, the loss will be $209,140. That's not even the interesting part.We're going to break down the listing description, because frankly, it's entertaining. The text from the listing is in italics. My analysis/translations of the realtorspeak follow, in bold. Note: I've broken the listing description into a few paragraphs. Otherwise, it would have been a huge glob of text.In foreclosure and bargain priced for the ""sweat equity"" investor or smart future homeowner! (The latest owners tried to rehab this place and failed miserably. You want to take a s Read more:story
Forecast: U.S. economy like an airplane at "stall speed" 2007-09-12 15:00:00 In a not-so-cheery economic forecast released today, UCLA compared our economy
to a stalling plane."...When the economy slows to a 1 percent pace, it runs the risk of falling into an actual recession, just as when an airplane's velocity dips down to its 'stall speed' and falls out of the sky," wrote David Shulman, senior economist for the forecast.The report says that the problems in the housing market "will push the national economy to the brink of recession, but growth in other areas should put the country back on a slow road to recovery by 2009," according to the CNNMoney.com story.More: "Economic growth will remain 'tepid' for the remainder of 2008 and return to 3 percent in 2009...That growth is just above the traditional definition of a recession - two consecutive quarters of decline in gross domestic product.""The declining housing market could remain at the heart of the nation's economic woes for some time."Surprise - The outlook is worse than one released yesterday by t Read more:Forecast
More than $200k drops in Talega 2007-09-11 21:23:00 Since on the last post we mentioned the Talega area of San Clemente has more than a two-year inventory of houses on the market, it's well past time to pay this area a visit.For some more about Talega from the builders' perspective, check out this post/ad from the LA Times real estate section.This is a very nice area - many nice, new homes, and close proximity to the beach. Here is yet another example of bad timing. Very bad timing.6 Via Oviendo, San Clemente, Calif., 92673Size: 3 beds, 3 baths, 2,463 sq ft (built in 2003) MLS: S491906 (92 days on Redfin) Asking price: $739,900 Asking price/ sq ft: $300 Purchase price: $910,000Purchase date: 11/22/2005 ZipRealty price tracker: Price Reduced: 7/2/07 -- $819,900 to $779,000 Price Reduced: 8/7/07 -- $779,000 to $759,000 Price Reduced: 8/28/07 -- $759,000 to $739,900 Type: Single Family Residence Style: Modern Stories: Two LevelsProperty tax: $13,515.00From listing: Great family home with formal living a
OC home inventory still piling up 2007-09-10 20:35:00 OC Register real estate columnist Jon Lansner blogged today about how the number of OC buyers willing to enter contracts to buy homes has dropped by a third in only four weeks. Also in the post is an update on market time from Steve Thomas from Re/Max Real Estate Services. That means, according to the blog, "how many months it would take owners to sell all homes on the market, based on current inventory and the pace of homes in escrow or under contract."More from Lansner: "This inventory-to-selling ratio suggests it would take 14.73 months for buyers to gobble up all homes listed for sale at the current pace of deals vs. 12.12 months two weeks earlier and vs. 7.12 months a year ago. Market time in Santa Ana, for example, is now FOUR YEARS! Yes, in theory, it would take four years to sell a Santa Ana home." The average in OC is 14.7 months. Here is how some of the South County areas shape up: Dove Canyon: 40.0 Talega: 27.3 Laguna Beach: 19.8 Portola Hills: 19.3San Juan: 18.5 San Cle
15 percent appreciation per year is history 2007-09-09 20:25:00 Let's go back to the late spring of last year for a moment. The owners of 91 Rue du Chateau #9 in Aliso Viejo have successfully pulled off a sale of their 3 bedroom, 2.5 bath property for $630,000...$318,000 more than they paid for it almost five years ago to the day. That's an appreciation
of 15.3 percent per year since they took ownership. Not bad at all. In fact, fantastic.Not only did their house work hard for them for the duration of their ownership - earning $63,600 per year - they stuck the unfortunate new owners (bagholders) with a property facing imminent decline as the real estate market begun to unravel.Fast forward a year and four months later, and things have gotten ugly:91 RUE DU CHATEAU #9, Aliso Viejo, Calif., 92656Size: 3 beds, 2.5 baths, 1,400 sq ft (built in 1999)MLS: S492859 (79 days on Redfin) Asking price: $499,000 Asking price/ sq ft: $356 Purchase price: $630,000Purchase date: 5/3/2006 Other sales history: 5/29/2001: $312,0009/21/1999: $236,500 ZipRealty p
Great links...come and get 'em 2007-09-07 10:53:00 A new feature on the blog is the Related Items list on the right side, just below the blogroll. These five, constantly changing links
are to the latest interesting stories we’ve found on the Web, from a variety of sources. Many will be housing related…but not all will be. Happy clicking. Read more:Great
This is what a 23 percent drop in value looks like 2007-09-06 02:00:00 Ouch...28313 Paseo El Siena #7, Laguna Niguel, Calif., 92677Size: 2 beds, 2 baths, 1,153 sq ft (built in 1986)MLS: U7002097 (112 days on Redfin)Asking price: $320,000Asking price/sq ft: $278Purchase price: $415,000Purchase date: 1/18/2006Other sales history: 1/18/1995: $122,00011/09/1994: $10,50012/14/1990: $153,500ZipRealty price tracker: Price Reduced: 07/11/07 -- $399,900 to $359,900 Price Reduced: 8/3/07 -- $359,900 to $339,500 Price Reduced: 8/31/07 -- $339,500 to $320,000Zestimate: $429,969Type: CondominiumStyle: ContemporaryStories: Two LevelsArea: Laguna Niguel East, South of Crown Valley, East of NiguelFrom listing: 2 bed/1.5+.5 bath townhome in quaint gated community of bridgeport terrace. Open floor plan with inside laundry area. Hoa includes trash, cable tv, pool/spa, gate and landscape maintenance. Close to the toll road and 5 freeway.Not too much to say here except another casualty of buying at the peak of the bubble and then trying (or n
Flipper alert: Aliso Viejo 2007-09-05 07:31:00 Yes, there are still an intrepid few out there looking to turn a quick profit by flipping real estate in Orange County.By the way, this entry comes on the heels of the news that the nation's largest lender, Countrywide, could be about to lay off a few thousand workers. Is wheeling and dealing with real estate for a profit is still a good idea? Judge for yourselves...34 Cellini, Aliso Viejo, Calif., 92656Size: 3 beds, 2.5 baths, 1,640 sq ft (built in 1989)MLS: S501897 (17 days on Redfin)Asking price: $599,900 (below $600k!)Asking price/sq ft: $366Purchase price: $523,000Purchase date: 6/28/2007Other sales history: 05/01/2002: $323,00005/30/1991: $218,500ZipRealty price tracker: Price Reduced: 08/25/07 -- $614,900 to $599,900 Type: CondominiumStyle: MediterraneanStories: Two LevelsLot size: 3,562 sq. ft.From listing: Totally remodeled beauty--end unit--huge yard--ultra private location at end of cds. One of aliso's best! All new designer interior includes slab granite counters, ss appl Read more:Flipper
Nobody's fully immune 2007-09-04 13:02:00 Coto de Caza is one of the most exclusive areas of OC. From 2001-2005, this property on Cambridge Court appreciated $490,000 - that's 16.5 percent per year - before selling to its current owners for $985,000. Since the property last changed hands in October, 2005, it hasn't really done very much in terms of appreciation.11 Cambridge Court, Coto de Caza, Calif., 92679Size: 5 beds, 3 baths, 2,633 sq ft (built in 1994)MLS: S495418 (62 days on Redfin)Asking price: $1,049,000Asking price/ sq ft: $398Purchase price: $985,000Purchase date: 10/7/2005Other sales history: 4/17/2001: $495,0008/16/1996: $305,00011/29/1994: $268,500ZipRealty price tracker: No price changesType: Single Family ResidenceStyle: RanchStories: Two levelsProperty tax: $11,810From listing: Gorgeous 5 bedroom home on a large pool sized lot. Located in a cul-d- sac near one of coto's nicest parks. Other features include berber carpeting, plantation shutters and hardwood flooring in the entry, family room and kitchen. The Read more:Nobody
, fully
Different header, new focus 2007-09-03 23:34:00 There's a new header
at the top of the blog that tells it all: We're now going to focus the vast majority of our efforts on South Orange County. There's more than enough mayhem going on in this part of the world to keep us plenty busy by itself, so that's where we're going to stay.So keep looking for more posts covering all of these South OC areas: Aliso Viejo; Coto de Caza; Dana Point; Dove Canyon; Foothill Ranch; Ladera Ranch; Laguna Beach; Laguna Hills; Laguna Niguel; Laguna Woods (mostly kidding); Lake Forest; Mission Viejo; Monarch Beach; Portola Hills; Rancho Santa Margarita; San Clemente; San Juan Capistrano; Trabuco Canyon.And, as always, we'll keep our sense of humor.
Neighborhood analysis: Milano 2007-09-02 15:05:00 Milano is a 132-unit gated townhome neighborhood in Aliso Viejo, located off Wood Canyon Drive and across the street from Soka University. It was built by Hearthside Homes from 1997-2000. Here is a map showing where this neighborhood is located (click on the image to make it larger):Homeowner's dues will run you $179 a month. The units are located on a street called Trofello Lane. The picture to the left is the community entrance. The picture to the right shows off the nice association pool and spa for cooling down.Here is a helpful link to a blog managed by the OC Realty Group that details the complex and provides some of the information we're drawing on here.PositivesLocated in a good area - close to the big Aliso Viejo shopping center and the 73 freeway, but also feels a bit out of the way of congestionNot just a bland neighborhood - units are neatly styledMany units (at least the ones for sale) can have nice outdoor spaceEvery model has a two-car garageNegativeUnits are grouped Read more:Neighborhood
, Milano
Dana Point meltdown 2007-09-02 12:03:00 33042 Daniel Drive, Dana Point, Calif., 92629Size: 4 beds, 2.5 baths, 2,280 sq ft (built in 1979) MLS: L24023 (15 days on Redfin) Asking price: $839,000 Asking price/ sq ft: $368 Purchase price: $940,000Purchase date: 10/20/2005 Other sales history: 09/20/2001 : $549,00009/09/1998 : $350,000 ZipRealty price tracker: No price reductions Type: Single Family Residence Style: Contemporary Stories: Two LevelsFrom listing: priced for quick sale. $130,000 below the loan balance!!!owner will SHORT SALE. this totally remodeled home is a 10+!the ultimate POOL PARTY HOUSE, palapa bar, firepit, built in bbq, outdoor surround system, covered patio, waterfalls, pool, and spa. lots of upgrades including stainless steel appliances, granite countertops, travertine flooring. this hme is virtually brand new. to show call...This is a very interesting situation. The listing description claims the home is priced "$130,000 below the loan balance!!!" but even if the current owner did not make any
Not desperate..."just motivated" 2007-08-31 16:05:00 182 Calle De Los Ninos is for sale in Rancho Santa Margarita and has been on Redfin for 51 days. Here are the details: Size: 2 beds, 2.5 baths, 1,000 sq ft (built in 1996) MLS: S496422 Asking price: $429,000 Asking price/ sq ft: $429 The interesting part is in the listing description: Cute 2 bedroom detached home that is priced to sell. Not a short sale-just motivated sellers. Travertine downstairs, 2 car attached garage with direct access. Recently painted, sellers will give a carpet allowance. Large rear yard, fireplace in living room, two master suites upstairs with their own bathroom plus 1/2 bath down. Light and bright. Near corner of calle de vida and calle de los ninos-1st cdc.Translation: "I know what you potential buyers are thinking...if it's actually priced semi-aggressively, it must be a short sale out of sheer desperation, right? Well would you believe that these sellers are actually pricing their property low on purpose? They're motivated, but not because they're i
High-end Mission Viejo reduction 2007-08-30 19:50:00 27560 Glenwood Drive, Mission
Viejo, Calif., 92692 Size: 4 beds, 3.5 baths, 3,396 sq ft (built in 1994) MLS: S479631 (167 days on Redfin) Asking price: $950,000 Asking price/ sq ft: $280 Purchase price: $1,150,000Purchase date: 6/20/2005 Other sales history: 7/29/1994: $411,500 2/9/1993: $36,500 ZipRealty price tracker: Price Increased: 03/16/07 -- $1,200,876 to $1,250,876Price Reduced: 05/01/07 -- $1,250,876 to $1,200,876Price Reduced: 07/12/07 -- $1,200,876 to $1,100,876 Type: Single Family Residence Style: Mediterranean Stories: Two Levels From listing: WOW-Huge lot at end of culdesac w/ fabulous rock pool & spa, waterfalls and waterslide! Neutral, spacious home w/ great floorplan which includes a downstairs bed w/ private bath, a huge master, and a separate 'children's wing' w/ 2 beds and attached bonus room w/ french doors opening to large balcony/porch. Yard also includes Rainbow play structure in the large side yard. Appx. $100K in lush palms, too. Impressive formal rooms &a Read more:reduction
Comp killer 2007-08-27 22:51:00 Three sellers on Tortuga Cay in Aliso Viejo, Calif. are all playing nice and fair with each other by setting fairly similar asking prices in terms of square footage. Then there's the fourth property, a short sale, with the possibility to shake up the neighborhood. First, the three similar ones:32 Tortuga CaySize: 2 beds, 2.5 baths, 1,436 sq ft (built in 1989)Asking price: $519,900Asking price/ sq ft: $362Days on Redfin: 1578 Tortuga CaySize: 3 beds, 3 baths, 1,602 sq ft (built in 1994)Asking price: $559,000Asking price/sq ft: $349Days on Redfin: 3833 Tortuga CaySize: 3 beds, 3 baths, 1,602 sq ft (built in 1990)Asking price: $589,500Asking price/ sq ft: $368Days on Redfin: 23Bottom line...the 33 Tortuga Cay property is overpriced. These sellers paid $537,500 in May, 2005 and are wishing for someone to materialize in order to bail them out. One noticeable difference between 33 and 78 Tortuga Cay is that 33 has a driveway, but is it really worth that much extra?By the way, 78 Tortuga Cay
Huge price reduction in Mission Viejo 2007-09-28 11:49:00 OC Haircuts tipped us to this Mission
Viejo short sale property, and man, is it a beauty...22591 Loyola, Mission Viejo, Calif., 92691Size: 3 beds, 2 baths, 1,300 sq ft (built in 1974)MLS: P577045 (140 days on Redfin)Asking price
: $465,000Asking price/ sq ft: $358Purchase price: $553,000Purchase date: 3/28/2006Other sales history: 9/20/1999: $206,0004/8/1992: $177,000ZipRealty price tracker: Price Reduced: 06/11/07 -- $629,000 to $550,000(the latest price drop is not showing up yet, but we know it was $85 grand - from $550,000 to $465,000)2006 property taxes: $2,337HOA dues: $0 (optional monthly lake access fee $17)Zestimate: $566,691Lot size: 7,056 sq ftType: Single Family ResidenceStyle: ContemporaryFrom listing: Short sale approved. Short sale approved. Submit your offer. Quick closing.No waiting period. Appraised for $515000. Totally upgraded with hardwood flooring. Upgraded bathroom and kitchen.You wont be disappointed if you show this home you will sell it. Sellers moved out. Vaca Read more:reduction
Wave of the future? 2007-09-27 14:38:00 Sales numbers drop, inventory and foreclosure numbers are up, and the median home price falls a bit, stays about the same, or even increases. Aren't we due for inevitably larger drops in housing values than what we're seeing so far?Now, as we are learning, sellers could finally be starting to get it, and in turn we could see lower prices very soon.Speaking of lower prices, what happens once the banks start aggressively slashing prices on their REO properties to get them off the books? Will that finally force stubborn sellers to either cut prices themselves, or finally remove their houses from the market? Or will it take the ominous "wave of foreclosures" we keep hearing about to finally knock prices down across the board?Here's one REO in Aliso Viejo that demonstrates a not-so-novel way of thinking that still eludes many. Really want to try and get your property sold? Then slash the heck out of the price.109 Gauguin Circle, Aliso Viejo, Calif., 92656Size: 4 beds, 2.5 baths, 1,750 sq
South OC recent sales 2007-09-27 02:00:00 Recent sales are fewer and farther between these days, but some properties are still moving. Here's a sample of properties to sell within the past three months in South
OC. Click on the address to go to the Redfin page to see complete sales history, where available.819 Avenida Salvador, San Clemente Sales price: $1,300,000Sales date: 8/1/2007Asking price: $1,470,00033581 Avenida Calita, San Juan CapistranoSales price: $1,101,000Sales date: 8/24/2007Profit/loss*: $-175,06024906 Danaelm, Dana Point Sales price: $862,500Sales date: 8/1/2007Asking price: $899,00024222 Via Aquara, Laguna NiguelSales price: $778,376Sales date: 7/11/2007Profit/loss: $-168,326.561 Alberta, Aliso ViejoSales price: $508,043Sales date: 8/2/2007Asking price: $554,900Profit/loss: $-121,439.58* - Profit/loss is an estimate of how much money the owners made or lost for this sale. It figures the sales prices, minus 6 percent in selling costs, and subtracts this total from the previous sale.
Strange on multiple levels 2007-09-26 19:00:00 Quick...guess which Mission Viejo property is listed for $1.23 million:Property A Property BYou probably assumed this was a trick, and you were right. The answer, somehow, is Property A. Check out the listing description on this sucker: This Rebuilt Home Has 7 Bedrooms 7 Baths All In One Level. * * * CURRENTLY OPERATES AS A HIGH-END BOARD & CARE FACILITY * * * Large Kitchen With Granite Counter Tops, Stainless Steel Appliances. Large Dinning Room. Each Bedroom Equiped with Plasma TV, Intercom, Ceiling Fan and Designer Carpet. Travertine Flooring Including Bathrooms. Lake Mission Viejo Access Is $325/Year. Low Tax Rate. No Mello Roos.Would you want to spend this much money to buy an outdated-looking home with some granite and stainless steel that currently is a senior care facility? Me neither. But, on the plus side, each room is "equipped" with a plasma TV.Also check out the sales history: $665,000 in 2005, and then $1,030,000 in 2006. Think it went up another 17 percent in value s Read more:Strange
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Can you believe it? 2007-09-26 02:00:00 Laguna Beach is a funky market - those who know its ins and outs can do very well, while others - even experienced real estate investors - can get burned if they don't know what they're doing. Laguna Beach is also a city that, to this point, seems to be holding up better than just about any other part of South County - that is, if you hold much stock in median prices.525 Allview Terrace, Laguna Beach, Calif., 92651Size: 2 beds, 2 baths, 1,550 sq ft (built in 1958)MLS: L23207 (134 days on Redfin)Asking price: $2,149,000Asking price/ sq ft: $1,386Income requirement: $537,250Purchase price: $2,150,000Purchase date: 10/28/2005Other sales history: 1/9/1998: $550,0004/12/1990: $560,000ZipRealty price tracker: Price Reduced: 9/22/07 -- $2,195,000 to $2,149,0002006 property taxes: $22,985HOA dues: $50Zestimate: $3,079,428Lot Size: 4,100 sq ftType: Single Family ResidenceStyle: ContemporaryArea: North LagunaFrom listing: Witness the transition from Diamond in the Rough, to Polished Jewel! Loc Read more:believe
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