Orange County CA Real Estate

The prestigious Falcon Hill gated community is located at the base of Nellie Gail Ranch in Laguna Hills, CA between Oso and La Paz Road. This desired community is centrally located with easy access to shopping and freeways. Falcon Hill residents can join the Nellie Gail Ranch Equestrian, Tennis and Swim club, with recreational and swim team training, and horse riding lessons.

This fine subdivision consists of 88 homes and was built in 1985 and 1986, by Fieldstone and Meister home builders.  These distinct detached homes range in size from 1,734 to 2,627 square feet, and incorporate 7 unique floor plans as listed below:

• Plan A - Ridge Model, 3 bedrooms, 3 baths, 1,734 sq. ft
• Plan C - Point Model, 3 bedrooms, 2 baths, 2,036 sq. ft
• Plan D – Crest Model, 4 bedrooms, 2.5 baths, 2,509 sq. ft
• Plan E – Summit Model, 3 bedrooms, 3 baths, 2,480 sq ft
• Plan F – Meridian Model, 3 bedrooms, 2 baths, 1,923 sq. ft
• Plan G – Crest Model, 4 bedrooms, 2.5 baths, 2,509 sq. ft
• Plan H – Summit Model 4 bedrooms, 2.5 baths, 2,627 sq. ft.

Each plan consists of Open Floor Plans with one or two fireplaces, 2 or 3 car garages, family room, formal living and dining rooms. The home owners association is only about $68 per month in Falcon Hill.

Currently there are no homes active for sale or pending in escrow in Falcon Hill, which is a testament to the desirability of this community.  In the past 12 months there have only been three sales which ranged in price from $727,000 up to $940,000.

Falcon Hill is a community with safety and property maintenance in mind, with an Active Neighborhood Watch Program, a monthly Falcon Hill newsletter and a community fall Wine and Cheese get together. Falcon Hill is serviced by the award winning Saddleback Valley Unified Public School District.  The grade school is Valencia Elementary school and the middle school is La Paz Junior High.  The upper grades are conducted at Laguna Hills High School.

If you would like to see all Homes for Sale in Nellie Gail or Laguna Hills, simply visit our website at:  Laguna Hills Real Estate.   If you would like more information on this community, contact Teresa Cordes at 949-290-1282 or email at MTCordes@msn.com

Resort Homes…. Vacation fun? Tax-saving deduction? Investment opportunity? first-time buyers’? Yes! While you may think of vacation homes in great resort locations as something for the rich and famous, there are many opportunities for the average southern California homebuyer.

The first purpose of a vacation home…the family fun…is obvious, but did you know that a second home has all of the same tax-saving benefits of your primary home - all of your interest payments, points and property taxes are tax deductible. Lenders are financing mortgages on these homes with similar rates and programs as well…including interest-only and 100% finance options. If you are still paying income taxes and already own a home, you might want to consider enhancing your quality of life and live income tax free.

The local resort areas of Southern California have some wonderful properties that would be good investments. What about a Palm Desert, CA. condo in a gated golf course community for $225,000? Financed with a 30-year fixed rate of 6%, you would have a monthly payment just around $1025/month. Nightly rentals in Palm Desert average between $100-250 per night. Or consider a quiet mountain cabin nestled in the trees of Lake Arrowhead, CA. where you can earn $1000-1500 per week during holidays and summers. Additionally, there are local property managers Lake Arrowhead who can arrange everything from bookings to house cleaning to any routine maintenance…. passive income with limited involvement.

What about the last idea….first-time buyers? All the advantages already listed apply to you! When I was much younger, my husband and I wanted to buy a home in South Orange County. We found that our monthly budget was not going to be able to handle the mortgage for a single-family home in the cities we wanted to live in. We decided to use the same monthly amount and split it between 2 homes…a rental house in Mission Viejo that suited our needs and a vacation cabin in Lake Arrowhead. We knew if we ever needed to, we could rent the cabin out to either completely cover its cost or even provide us income. But what it did do was allow us to enter the housing market and begin to reap the benefits of tax deductions and appreciation…plus it was fun!

If your job skills are “portable” you might also consider living year-round in one of our resort communities. For instance, there are many mountain communities (ie: Lake Arrowhead) , which are a short 20-minute drive to San Bernardino or downtown Riverside. The desert resorts (ie: Palm Desert) also have many employment opportunities. In these areas a single-family house with 2500 square feet and a nice sized lot would cost well under $500,000. When were the last time home buyers saw those prices?

Finally, remember that there are many financing options available to help you in this price range. A FHA mortgage for instance requires only a 3% down payment, and the seller can pay for most of your closing costs. The 3% can be borrowed and credit requirements are much looser as well. There are even programs in California, which can help with the down payment. Since these are not considered “Jumbo” loans, you will find lower interest rates and greater flexibility in payments and options.

Regardless of the reason you decide to purchase a home in one of our resort areas, you and your family will reap the reward for years. Heirloom properties that can be handed down throughout the generations are not only for the rich. As we’ve seen, you can be enjoying this summer on the lake or this winter in the desert using just your current income and budget.

If you would like us to email you a list of homes for sale in Lake Arrowhead or Palm Desert, just contact Karen Fiddler, of the OC Realty Group at: 949-510-2395 or email @:  KarenFiddler@Hotmail.com

The real estate market in Lake Forest CA. has slowed down substantially from a Sellers market 10 months ago to a Neutral market today.  The Months of Inventory is a common statistic used to indicate the strength of any residential real estate market.  Currently, the months of inventory for detached homes in Lake Forest is standing at about 4.4 months, and 4 to 6 months is considered to be a Neutral market.  The months of inventory for attached Condos in Lake Forest is now 5.3 months.  

Currently there are 200 detached homes for sale in Lake Forest.  The lowest priced detached home is a 2 bedroom. 2.5 bath, 1,250 square foot home priced at $549,000 in the Brittney tract of Foothill Ranch. The most expensive detached house for sale in Lake Forest California is a 4 bedroom, 4.5 bath, 4,100 square foot home priced at $1,399,000 in the Montbury tract.  The Median priced home is $759,000 and the Average price of these 200 homes is $777,974.  The average days on market is 47 days, and the average price per square foot is $420. 

Today, there are 68 detached homes under contract In Escrow in Lake Forest.  The least expensive home is a 2 bedroom, 1 bath, 943 square foot home for $525,000 in the Countryside tract. The most expensive home In Escrow is a 4 bedroom, 2.5 bath, 3,300 square foot home for $1,324,900 in the Montbury tract.  The Median home price for these 68 homes is $740,000.

In the past 90 days, there have been 147 detached homes that have sold and closed escrow in Lake Forest, CA.  The least expensive home was a 2 bedroom. 2,5 bath, 1,256 square foot in the Brittany.  The most expensive home sold that closed escrow in the past 90 days in Lake Forest was a 4 bedroom, 4 bath, 3,312 square foot estate for $1,070,000 in the Crown Pointe community. The median price of the homes that have sold is $730,000 and the average price was $749,667.  The average days on market was 47 days and the average price per square foot was $391/SqFt.

For attached Condominiums, there are 205 Condos currently for sale in lake Forest. The least expensive condo is a 1 bedroom, 1 bath, 685 square foot home for $264,000 in the Aliso Creek tract.  The most expensive Condo was a 3 bedroom, 2.5 bath, 2,190 square foot attached Lake Front home in the Villa Del Lago tract and is part of the Sun and Sail Club.  The median price of the 205 condos is $424,900 and the average price is $438,288. The average days on market is 54 days, and the average price per square foot is $410/SqFt.

At this time, there are 57 condominiums under contract In Escrow. The least expensive Condo in escrow is a 1 bedroom, 1 bath condo in the Pheasant Run community.  The most expensive Condo currently in escrow in Lake Forest is a 5 bedroom, 3 bath, 2,562 square foot attached home for $1.480,000 on the Lake Front.  The Median priced home is $430,000 for the 57 condos in escrow.

In the past 90 days, there were 144 condos that have sold and closed escrow. The least expensive Condo that has sold is a 1 bedroom, 1 bath, 710 square foot home for $285,000 in the Pheasant Creek tract. The most expensive Condominium sold is a 4 bedroom, 2.5 bath, 2,350 square foot attached home on the Lake Front  for $8700,000 in the Lake Terrace community.  The median priced Condo sold in the past 90 days was  $428,000.

Even though the local real estate market has slowed down, it is still decent market to both buy and sell in.  To view all Homes for Sale in Lake Forest, visit our website at:  Lake Forest Real Estate.

The City of Lake Forest, CA. boasts of the popular Sun and Sail Club which is located by the intersection of Lake Forest Dr and Toledo Way.   The Sun and Sail Club is by private membership  and is made available to the home owners in the surrounding area that are part of the association.  The Sun and Sail Club of Lake Forest has many amenities such as:  Lake with sailing, boating and fishing, 6 tennis courts, 3 swimming pools, Jacuzzi, complete exercise gym, large clubhouse, tot lot, Volleyball court and more.

There are currently 20 detached single family homes for sale that have membership to the Sun and Sail Club.  These homes range in price from $649,900 for a 3 bedroom, 2 bath, 1,256 square foot home, on up to $1,025,000 for a 2 bedroom, 2 bath, 1,700 square foot lake front home in the Lake Keys tract. The median price for these 20 homes is $750,000 and the average price is $790,000.  The average days on market is 55 days, and the average price per square foot is $439/SqFt. 

The homes in this area were constructed by various developers and builders in the 1970's. One of the fine communities that is part of the Sun and Sail Club is Park West Estates.  The homes in ParkWest were constructed by the prolific builder S & S Homes starting in 1978 and completed in 1981.  Park West homes comprise of 9 distinct floors plans as follows:

• Cabrillo (104r)........ 4 bdrms, 2 baths, 1,694 SqFt
• Acacia Alt. (204).... 6 bdrms, 3 baths, 2,712 SqFt
• Acacia (204).......... 4 bdrms, 3 baths, 2,712 SqFt
• Bryce Alt. (213r).... 5 bdrms, 2.5 baths, 2,426 SqFt
• Bryce (213r).......... 3 bdrms, 2.5 baths, 2,426 SqFt
• Muir (213)............. 4 bdrms, 3 baths, 2,887 SqFt
• Muir Alt. (213r)..... 6 bdrms, 3 baths, 2,887 SqFt
• Sequoia (374r)...... 4 bdrms, 3 baths, 2,485 SqFt

Each fine home incorporates a family room, 2 car garage, fireplace and more.  Park West Estates incorporate the following street names: Alice Ave., Angela St., Anette Ave., Cindy Ln., Heidi Ave., Hoi Cir., Kathy Ave., Mae Cir., Mimi Ln., Sandra St., and Tina Pl.

Park West Estates is serviced by the award winning Saddleback Valley Pubic School district.  Grades K thru 8 are serviced by Aliso Elementary school.  The middle school is Serrano Intermediate school, and the upper classes are serviced by El Toro High School.  

If you would like to view all homes for sale in Lake Forest, please visit our website at:  Lake Forest Real Estate.