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Laguna Beach Short Sale Real Estate

Laguna Beach Short Sale Homes report.

by vbindi on January 9, 2012

This Market Update is brought to you by the experts at the ShortSalesASAP group, who specialize in short sale negotiations, marketing and sales here in Laguna Beach . This article will report the statistics for Active for Sale and Sold standard listing properties, as compared to short sales. Currently, there are 205 detached homes listed for sale in Laguna Beach , California. The median price of these homes for sale is $2,210,000 and the average price per square foot is $1,057 . 22 of these active listings are short sales, which represent 26% of the total inventory of detached homes for sale. The median price of these short sale properties is $400,000 and the average price per square foot is $246 .

For homes under contract, there are 41 detached homes in escrow on this date, and the median price is $1,075,000 . Of this total, 20 are short sales in escrow, which is 49% of the total detached properties in escrow in Laguna Beach , and the short sale median price in escrow is $899,500 .

In the past 3 months, there have been a total of 73 detached homes that have sold and closed escrow in Fullerton . The median price was $1,250,000 and the average price per square foot was $736 . Of this total were 13 were short sale properties in the city of Laguna Beach in the past 3 months. This number of sold short sales is 18% of the total. The median price was $850,000 , and the average price per square foot was $475 .

If you would like more information about short sale real estate, feel free to click the following link to visit our website at: Laguna Beach Short Sale Homes and Condos for Sale. To speak with a Short Sale Realtor, or to set an appointment, feel free to call: (888) 201-7066, or email us at: Info@ShortSalesASAP.com.

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Short Sale Information, Laguna Beach

by vbindi on February 28, 2011

This information is brought to you by the experts at the ShortSalesASAP group, who specialize in negotiating short sales, marketing and sales here in Laguna Beach. This article will address the statistics for short sales as compared to Active for Sale and Sold standard listing properties. There are currently 195 detached homes listed for sale in Laguna Beach, California. The median price of these homes for sale is $3,475,000 and the average price per square foot is $1,017 . 19 of these active listings are short sales, which represent 26% of the total inventory of detached homes for sale. The median price of these short sale properties is $400,000 and the average price per square foot is $246 .

In Laguna Beach there are now 49 condominiums listed for sale. For these listed condominiums the median price is $1,199,000 and the average price per square foot is $943 . Of this total, 3 are short sale listings. The median price of these short sale units is $489,900 , and the average price per square foot is $552 . The ratio of short sale condo listings to the total listings is 6% .

For homes under contract, there are 45 detached homes in escrow on this date, and the median price is $1,239,000 . Of this total, 19 are short sales in escrow, which is 42% of the total detached properties in escrow in Laguna Beach, and the short sale median price in escrow is $898,000 .

For condominiums in escrow, there are now 8 attached units under contract, with a median price of $799,000 . Of this number, 3 are short sales, which calculates to be 38% of the total pending units, and the median price is $380,000 .

In the past 3 months, there have been a total of 78 detached homes that have sold and closed escrow in Laguna Beach. The median price was $1,375,000 and the average price per square foot was $657 . Of this total were 10 were short sale properties in the city of Laguna Beach  in the past 3 months. This number of sold short sales is 13% of the total. The median price was $825,000 , and the average price per square foot was $483 .

In the past 90 days, there have been a total of 10 condo sales with a median price of $1,000,000 , and an average price per square foot of $639 in Laguna Beach. Also, there were 1 short sale condos sold, which was 10% of the total number of units sold in this period. The median price of the sold short sale condos was $1,010,000 , and the average price per square foot was $754 .

As can be seen above, the ratio of pending In Escrow short sale properties, to pending in escrow total listings is a much higher percentage, compared to the ratio of Sold short sale properties to Sold total properties.  This high rate of failure due to the lack of knowledge by the typical short sale listing agent.   This illustrates that Property owners who owe more than their home is worth, should work with an experienced Laguna Beach short sale realtor such as the ShortSalesASAP group. For more information, feel free to call: (888) 201-7066, or email us at: Info@ShortSalesASAP.com.

Laguna Beach Short Sale – Realtor Case Study #37

by vbindi on August 25, 2009

Laguna Beach Short Sale Success Story #37 -  Another short sale has been sold and closed by the  ShortSalesASAP Group here in Laguna Beach, CA.  The Short Sales ASAP group is #1 in Short Sale closings in Orange County.  We have been sharing many of our success stories for the benefit of the public who may be caught in today’s mortgage loan crisis.  Short Sales are not easy to close, so it is imperative that one seeks a Realtor expert to conduct such a transaction.  Some of the details of this short sale story will not be divulged in order to protect the privacy of the past property owner.

Property and Finance Details: This Laguna Beach property was a 3 bedroom, 3 bath, 1,550 square foot detached home with a panoramic ocean view.   This home was purchased in January of 2006′ for $1.15Million, using 90% financing which resulted in a first mortgage loan of $1,035,000.  The homeowner had to move back east, and tried to sell the home using traditional methods, but was not able to do so.

Laguna Beach Real Estate Market Conditions: The real estate market here in southern California has been gone through a major price correction.  Laguna Beach has suffered a large decline in real estate prices, but not as bad as  other Cities in Orange County.   This severe real estate recession is due to the overheated southern California market that started in 1999, the nationwide mortgage crisis, and job losses here in Orange County.  Although, we now see signs that price decreases have slowed down considerably, and we may be approaching the bottom of the market cycle pricing.

Only 37 % of Short Sales actually sold and closed escrow in Laguna Beach in the past 12 months.  Whereas, the ShortSalesASAP Group closes over 94% of our short sale listings.

SHORT SALE – PHASE:  The homeowner contacted us via a referral, and we answered all of their questions and concerns regarding short sales.  The property owners signed the  listing agreement and short sale addendum, and our preparation team gathered all of the required documents from the homeowner.  These documents were carefully packaged in the format required, and delivered to the 1st mortgage bank to present the short sale proposal.   3 weeks later, and after some cunning negotiations, our expert team was able to obtain preliminary approval for the Short Sale.

MARKETING AND SALES – PHASE:   Once we obtained the preliminary short sale approval, we put this Laguna Beach property on the market for sale.  It was originally listed in the Multiple Listing Service (MLS) for $950,000.   After about 3 weeks on the market with very little interest, we dropped the price again to $925,000.  We obtained an offer from a qualified buyer for $850,000.  After some negotiations with our short sale Realtor expert, we finally arrived at a price of $872,000.

CLOSING – PHASE:  Once all of the purchase contract documents are signed by the buyer and seller, our team packages theses documents along with the buyer loan qualification letter. This package was then sent to the 1st mortgage Bank.  Our short sale negotiator then went to work to finalize the final terms and conditions of this short sale.  After some additional negotiations, we convinced the  Banks to agree to the final short sale.    The property escrow then closed 35 days later.

IN SUMMARY: The entire mortgage debt of $1,035,000 was eliminated so that the homeowner did not owe this money anymore.  We were also able to negotiate $2,500 from the Bank to pay to the homeowner, which is referred to as “Cash for Cooperation”, which many banks are now offering as an incentive to homeowners to cooperate with a short sale, versus letting the property go to Foreclosure.

ShortSaleASAP is licensed with the California Department of Real Estate, and we are members of good standing with the Orange County board of Realtors. We train Agents Nationwide how to conduct short sales, and have been interviewed by CNNMoney, ABC World News Tonight, OCRegister and others.  Our services are free to the homeowner, for we are negotiate our fee with  the mortgage bank(s). If you have any questions regarding Short Sales, contact our team of experts at: (949) 388-3396 or drop us an email at: Info@ShortSalesASAP.com

Bank Short Sale – Laguna Beach – $200K below Loan Balance

by Vincent Bindi on October 18, 2007

Price (subject to change):  $1,068,000
Bedrooms:  3
Baths:  2
Living Area (SqFt):   -
No. of Garages:  1
Stories:  Split Level
Year Built:  1951
Lot Size (SqFt):  4,440
City:  Laguna Beach
Area:  Laguna Village
Tract:  the Village
Address:  841 Fen Way
School District:  Laguna Beach Unified

Property Description:   Absolutely charming country french cottage featured in Romantic Homes Magazine.  Large corner lot on quiet street.   Wonderful yard with flagstone patio,outdoor fireplace, koi pond, gazebo and greenhouse. 1 car garage plus extra driveway parking.   Great location in the Village, behind the high school walking dist to the beach and downtown. 

Financing:    Conventional financing with 10% or 20% down is available.  Great News ! – Rates have recently dropped to 6.6% with No Points for Jumbo loans greater then $417,000.  The Bank does not want to own this REO property and wants is sold.

Contact:  To view this Bank Foreclosed home, feel free to Call Us at:  949-388-3396, or email us at:  Info@SearchOCHomes.com , or Text Message at:  949-283-4679.  We’re easy to talk too.  Let our years of experience and negotiation expertise get you the best possible price on this property or any bank owned foreclosure or short sale property for sale in Orange County.  Join our FREE and No Obligation Bank Foreclosure and Short Sale home finder service at: