Orange County CA Real Estate

We are featuring a spacious Duplex home located in North Laguna Beach and just 1 block from the beaches, located on Beverly Street, priced in the mid $1 Million dollar price range.  This property is perfect for the a home owner who wants to live in one unit and rent out the other.  The front unit consists of a 2 bedroom, 2 bath unit consisting of 1,100 square feet and attached 2 car garage. This home boasts of an Ocean View from the garden room, and has hardwood floors. This unit does not have a connecting living area wall with the back unit which offers the maximum in sound insulation and privacy.

The upper-level rear unit consists of 2 bedrooms, 1 bath, 1,000 square feet.and a 1 car garage.  This home also offers an Ocean view, hardwood floors and enclosed deck.  This is an excellent property for a property owner who wants to live in one unit and rent out the other.  The total square footage of the improvements is 2,106 square feet built in 1958.  This duplex home is situated on a 4,500 square foot lot. 

This upper unit is projected to rent for approximately $2,300 per month.  The front 2 bedroom, 2 bath unit is projected to rent for $3,100 per month.  The electricity and gas are individually metered, and has been well maintained. 

This Laguna Beach gem is just one block from the ocean front and Heisler Park, and jsut down the street from Boat Canyon shopping center.  Laguna Beach is known for it's steep cliffs overlooking the crashing waves of the pacific, water-etched coves, and deep canyons.  North Laguna Beach was first developed in 1905 by Howard Heiseler and others. Laguna Beach has a population of approximately 25,000 residents. There are currently 240 detached homes for sale in all of Laguna Beach.  The median priced detached home  is $2,250,00, and the average price is $3,426,907.  In North Laguna Beach the median priced detached home is $2,850,000 and the average priced home in this area is $4,874,219. 

For current pricing, or for a private viewing of the Duplex home for sale on Beverley Street, please call us at:  949-388-3396, or Text Message us at:  949-283-4679.  To view all homes for sale in Laguna Beach, visit our website at:  Laguna Beach Real Estate
  

President Bush signed the Economic Stimulus Bill into law this past Wednesday, February 13th.   Although the details are not finalized, the department of Housing and Urban Development (HUD) has 30 days to publish the median area home prices, Metropolitan Statistical Areas and mortgage principal obligation limits after the bill became law.  The new Proposed Fannie Mae and Feddie Mac conforming loans are to be based on 125% of the area median home price not to exceed $729,750.  That is great news for Orange County, for the median home price here is approximately $600,000, which means that Orange County conforming loan limit should be around the $729,000  limit.

I expect that this year will be the bottom of this severe market correction.  With the proposed buy-out of Countrywide Mortgage by Bank of America, the recent large decrease in the Fed funds rate, the new Federal program called Project Life Line that helps delay and possibly avoid Foreclosures, and  this new Economic Stimulus Bill raising loan limits,  this should put the brakes on  further price erosion here in Orange County..

The new loan limits will apply to 30 year and 15 year fixed rate, fully amortizing (sorry no interest only) and owner occupied homes only.  They should also apply to high Loan to Value (LTV) FHA loans which should really help to stimulate the local real estate market back to normal health.  Adjustable rate mortgage are being considered but but I would not  count on it. Although the bill has passed the information above is not final.  Changes are set to expire on December 31, 2008, although I would be willing to bet the this Bill is extended like many other Bills in years gone by. 

A beautiful estate was recently listed for sale in the Montecito subdivision in Yorba Linda, CA.  This luxury property is located on Red Pine Rd. and was recently built in 2003'.  It  incorporates 4,708 square feet of living area, with 5 bedrooms, 6 baths, and a 3 car garage.  It boasts of panoramic views of the Pacific Ocean, Catalina Island, and city lights views. 

This property includes many fine upgrades and features such as: gourmet kitchen with stainless appliances, cherry wood cabinets with granite counter tops, crown molding throughout, wood shutters, window casings, custom paint, custom mosaic stone, travertine throughout the first floor with designer carpet upstairs.  This fine home also includes 3 fireplace, a large mater bedroom suite with balcony offering panoramic views.  An office/retreat area and separate library is also included in this home.

The backyard is an entertainers delight and incorporates a pebble-tech saltwater swimming pool with waterfall, built-in slate Bar-B-Que, outdoor firepit and patio spaces with panoramic views.  This fine estate is located at the end of a quiet Cul-de-Sac and is situated on a 10,000 square foot lot.

The Motecito subdivision is adjacent to Carbon Canon Park and is close to the intersection of Valle View Ave and Lakeview Ave.  Home in this tract are serviced by the Placentia-Yorba Linda Unified School district.  The elementary school for this area is Lakeview, and the middle school is Yorba Linda junior high.  The high school is El Dorado.

For a private viewing of this fine property, please call us at:  949-388-3396, or drop us an email at:  Info@OCRealtyGroup.com   To view all homes for sale in Yorba Linda, please feel free to vidit our website at:  Orange County MLS Home Search.

Currently there are 221 detached homes for sale in Ladera Ranch, CA.  these homes range in price from $465,000 for a 3 bedroom, 2 bath, 1,812 square foot home in the Tarleton tract on Rinehart road.  On up to $5,995,000 for a 5 bedroom, 7.5 bath, 8,700 square foot estate property in Covenant Hills on Bell Pasture Road.  The median priced home is $989,900, and the average priced home is $1,309,576.  The average days on market is 96 days and the average price per square foot is 376/SqFt.

Today, there are 24 detached single family homes that are under contract Pending in escrow.  These homes range in price from $524,900 for a 3 bedroom, 2.5 bath, 1,775 square foot home on Livingston Place in the Westcott tract.  The maximum home in escrow, is $3,395,000 for a 5 bedroom, 5.5 bath, 4,923 square foot estate home in Covenant Hills on Mission Ridge.  The median priced home is $989,000 and the average priced home in escrow in Ladera Ranch is approximately $1,250,000.  The average price per square foot is $324/SqFt and the average days on market is 80 days.

For homes that have sold and closed in the past 90 days in Ladera Ranch, there  were 42 such detached homes that sold.  These homes range in price from $479,900 for a 3 bedroom, 2.5 bath, 1,600 square foot on Amy Way in the ??? tract.  The highest priced home sold was for $4,350,000 for a 4 bedroom, 5.5 bath, 7,820 square foot estate San Jose street in Covenant Hills.  The median priced home is $824,900 and the averaged priced home is $931,606.  the average price per square foot is $320/SqFt and the average days on market is 81 days.

Comparing these home Sold statistics to the same 90 day period of time last year we find the following.  1 year ago, there were 83 homes that sold and closed escrow in the same 3 month period of time.  The median priced home sold 12 months ago was $835,000 and the  averaged priced home was $1,037,505.  The average price per square foot was $359/SqFt and the average days on market was 81 days.  Below is a table of the results.

Price	2007'	2008'	% Change
Median	835,000	824,900	-1.21%
Average	1,037,505	931,606	-10.21%
$/SqFt	359	320	-10.86%

As can be seen, prices have dropped about 10% in the past year in Ladera Ranch.   This  presents a very good buying opportunity for interest rates are still extremely low, and some properties in Ladera Ranch that are Bank owned REO's or pre-Foreclosures (Short Sales), can sometimes be purchased for 20% to even 30% less then what comparable homes were selling for about 2 years ago.  For a list of bargain homes for sale, please visit our website at:  www.OCBargainHomes.com

This completely remodeled single level estate home is located in the exclusive subdivision of Monarch Bay Terrace in Monarch Beach.  The contemporary Mediterranean styled estate boasts of a panoramic view of the pacific ocean, Catalina Island and City Lights.  This property consists of 3 bedrooms, 3.5 baths, 3,166 square feet of living area, a 3 car garage and is situated on a spacious 17,500 square foot lot. 

This estate property is located on Sea Island Dr. and the current asking price is $3,750,000 (subject to change).  This luxurious home was completely remodeled.  Each of the 3 bedrooms have a private bath plus a bonus rm. Spacious open floor plan, with generous use of natural stone and custom cabinetry throughout. Custom African mahogany garage doors and front gates adding immense curb appeal.

Monarch Beach is a prestigious enclave of expensive homes and condominiums located in northern coastal region of Dana Point, CA.   There are currently 62 detached homes for sale in Monarch Beach ranging in price from $720,000 fora 3 bedroom, 3 bath, 1,544 patio home, up to $11,000,000 for a 4 bedroom, 4.5 bath, 3,701 square foot estate.  the median priced home is $1,695,000 and the average price of these 62 homes is $2,130,531.

Monarch Beach is known  for  the 5 star  resorts of the St. Regis and Ritz Carlton.  Monarch Beach also boasts of one of the most beautiful beaches in southern California called Salt Creek Beach.  Dana Point has some of the best climate in the nation, with average summer temperatures from 60 degrees F to 80 degrees F, and Winter temperatures of 45 degrees F to 70 degress F, and lots of sunshine.

To view all luxury properties currently listed for sale, please visit our website at:  Dana Point Real Estate.