Dana Point Homes and Condos report.

by vbindi on February 17, 2010

This report is for Active for Sale and Sold statistics for homes and condos in Dana Point . This article is generated by the realtor professionals at eVantage Real Estate here in Orange County, CA. Today, there are 152 detached homes for sale, which have a median price of $1,300,000 with an average price per square foot of $653 . These homes are priced from a low of $410,000 for a 2 bedroom, 2 bath, 927 square foot home situated in the subdivision tract called Lantern Village South . On up to a maximum price of $24,999,000 for a fine home boasting of 5 bedrooms, 8 baths, with 9,700 square feet of living area, and a panoramic ocean view, which is located in the Strand at Headlands Tract.

Currently, for attached condos there are 77 units active for sale in Dana Point . The median price of these condominiums is $495,000 and the average price per square foot is $407 . These Active for Sale condos range in price from a low of $179,000 for a unit comprising of 1 bedroom, 1 bath, 700 square foot, that is found in the Harbor Walk Tract. Up to a maximum price of $2,490,000 for a roomy condo consisting of 3 bedrooms, 4 baths, with 3,318 square feet found in the Sea Villas at St. Regis Subdivision.

For properties currently under contract in Dana Point there are 51 detached homes in escrow, with a median value of $649,000 . These detached homes range in price from a low of $349,000 for a 2 bedroom, 1 bath, 700 square foot property located in the Lantern Village Tract. On up to a maximum price of $5,995,000 for a fine property incorporating 4 bedrooms, 5 baths, with an expansive 5,000 square feet of living area, located in the Dana Point Harbor area.

For condos, there are 44 units now in escrow in Dana Point , with a median price of $339,900 . These pending units range in price from $159,000 for a 1 bedroom, 1 bath, 700 square foot condominium, situated in the Harbor Walk Subdivision. On up to a high price of $749,000 for a fine condo consisting of 3 bedrooms, and 3 baths, with 1,800 square feet, found in the Niguel Beach Terrace Subdivision.

In the past 3 months, there were 43 detached homes that have sold and closed escrow in Dana Point . These sold homes had a median price of $683,100 with an average price per square foot of $350 . These sold and closed homes range in price from a low of $410,000 for a detached home comprised of 2 bedrooms, and 1 bath, with 976 square feet, and is located in the California Homes Subdivision. And a maximum price of $6,200,000 for an estate property comprising of 5 bedrooms, 6 baths, and a spacious 6,100 square feet located in the Ritz Cove Tract.

For the past 90 days, there were 39 attached condominiums that have sold and closed escrow in Dana Point , California. The median price of these attached units was $434,000 and the average price per square foot was $344 . These sold condominiums ranged in price from a low of $125,000 for a 1 bedroom, 1 bath, 490 square foot unit found in the Harbor Walk condo Tract. And the maximum priced sold condo was $923,000 for a nice unit comprised of 2 bedrooms, 3 baths, and 2,000 square feet unit.

If you have any questions regarding homes or condominiums for sale in Dana Point , please feel free to contact our Dana Point realtor expert at: (949) 388-3396, or email us at: Info@eVantageRE.com .

Laguna Hills Short Sale Realtor report.

by vbindi on February 16, 2010

This report is for standard sales, short sales and bank REO sales statistics in Laguna Hills . This article is brought to you by the realtor experts at the Short Sales ASAP group, who are #1 in short sale property listings and closings in Orange County. Currently, there are 65 detached homes listed for sale in Laguna Hills , California. The median price of these active homes for sale is $1,195,000 and the average price per square foot is $343 . Of this total, 13 are short sale listings active for sale, and another 1 are bank owned REO’s, for a total of 14 financially distressed single family homes in Laguna Hills . These distressed home listings represent 22% of the total inventory of detached homes for sale. The median price of these distressed properties is $699,000 and the average price per square foot is $252 .

For attached condominiums, there are 27 condo units currently listed for sale in Laguna Hills . The median price for these listed condominiums is $285,000 and the average price per square foot is $241 . Of this total, 18 are short sale condo listings, and another 0 are bank owned foreclosed condos listed for sale in Laguna Hills , for a grand total of 18 financially distressed condo listings. The median price of these distressed condos is $240,000 , and the average price per square foot is $220 . The ratio of distressed condo listings to the total listings is 67% .

Currently, there are 51 detached homes under contract in escrow, and the median price of these pending properties is $549,500 . Of this total pending properties, 24 are short sales, and another 3 are bank owned REO properties. This is a total of 27 financially distressed homes, which is 53% of the total detached properties in escrow in Laguna Hills , and the median price is $496,000 .

For condominiums, there are now 65 attached units in escrow, and the median price is $232,500 . Of this number, 50 are short sales in escrow, and 8 are bank owned REO condos in escrow in Laguna Hills . This total of 58 distressed condos is 89% of the total units in escrow, and the median price is $219,000 .

In the past 90 days, there have been a total of 41 detached homes that have sold and closed escrow in Laguna Hills . The median price of these sold homes was $580,000 and the average price per square foot was $277 . Comprising of this total were 12 short sale properties, and 8 bank owned foreclosure homes, for a total of 20 distressed homes that have sold in Laguna Hills in the past 3 months. This number of distressed sales is 49% of the total, and the median price was $515,000 , and the average price per square foot was $245 .

For attached condos, there have been a total of 49 condo sales in the past 3 months. The median price was $262,000 , and the average price per square foot was $213 in Laguna Hills . In addition, there were 17 short sale condos that sold and closed, and another 11 REO units that sold in the past 90 days. This was a total of 28 distressed condos, which is 57% of the total number of units sold in this period. The median price of the sold condos was $234,000 , and the average price per square foot was $182 .

As can be seen above, the ratio of Active distressed listings, to Active total listings is a much higher percentage, compared to the ratio of Sold distressed properties to Sold total properties. This illustrates that short sales fail at a high rate. Therefore, property owners who owe more than their home is worth, should work with an experienced Laguna Hills short sale realtor. For more information, feel free to call: (888) 201-7066, or email us at: Info@ShortSalesASAP.com.

Mission Viejo Homes and Condos report.

by vbindi on February 15, 2010

This is a statistical report for Active for Sale and Sold homes and condos in Mission Viejo . This report is brought to you by the professional realtors at eVantage Real Estate in Orange County, CA.  Today, there are 208 detached single family homes for sale, with a median price of $599,000 and an average price per square foot of $296 . These homes are priced from a low of $339,000 for a 2 bedroom, 2 bath, 1,279 square feet located in the subdivision called Casta del Sol . On up to a maximum price of $3,675,000 for a fine home incorporating 4 bedroom, 6 bath, 6,084 square feet which is located in the Tres Vistas Custom Tract.

For attached condos, there are currently 80 condos active for sale in Mission Viejo . The median price of these condos is $310,000 and the average price per square foot is $247 . These listed condos range in price from a low of $139,000 for a unit comprised of 1 bedroom, 2 bath, 642 square feet and is situated in the Las Palmas Tract. Up to a maximum price of $599,800 for a roomy condo consisting of 2 bedroom, 2 bath,1,448 square feet found in the Mallorca Condos Subdivision.

For properties currently under contract in Mission Viejo there are 147 detached homes in escrow, and the median price is $480,000 . These detached homes range in price from a low of $209,900 for a 2 bedroom, 1 bath, 1,415 square feet home located in the El Dorado Tract. On up to a maximum price of $1,125,000 for a fine property comprising of 6 bedroom, 4 bath, 3,651 square feet located in the Stone Ridge Tract.

For condos, there are 129 units now in escrow in Mission Viejo , with a median price of $300,000 . These pending units range in price from $120,000 for a 1 bedroom, 1 bath, 513 square feet located in the Las Palmas Subdivision. On up to a maximum price of $624,900 for a fine condo consisting of 2 bedroom, 2 bath, 1,286 square feet found in the Mallorca Condos Subdivision.

In the past 90 days, there have been 168 detached homes that have sold and closed escrow in Mission Viejo . These sold homes had a median price of $530,000 with an average price per square foot of $275 . These closed homes range in price from a low of $300,000 for a home comprised of 2 bedroom, 2 bath, 1,230 square feet situated in the Casta del Sol Subdivision. And a maximum price of $1,150,000 for a fine property incorporating 4 bedroom, 4 bath, 3,200 square feet found in the John Lyttle Tract.

For the past 3 months, there have been 78 attached condominiums that have sold and closed escrow in Mission Viejo , California. The median price of these attached units was $310,000 and the average price per square foot was $228 . These sold condominiums ranged in price from a low of $120,000 for a 1 bedroom, 1 bath, 473 square feet located in the Las Palmas condo Tract. And the maximum priced sold condo was $567,500 for a nice condo comprised of 3 bedroom, 3 bath, 1,781 square feet situated in the Mallorca Condos Tract.

If you have any questions regarding real estate for sale in Mission Viejo , please feel free to call us at: (949) 388-3396, or email us at: Info@eVantageRE.com . Click this link if you would like to view all homes for sale in Mission Viejo .

Aliso Viejo Short Sale Realtor report.

by vbindi on February 10, 2010

This report is for standard sales, short sales and bank REO sales statistics in Aliso Viejo . This article is brought to you by the realtor experts at the Short Sales ASAP group, who are #1 in short sale property listings and closings in Orange County. Currently, there are 41 detached homes listed for sale in Aliso Viejo , California. The median price of these active homes for sale is $585,000 and the average price per square foot is $293 . Of this total, 19 are short sale listings active for sale, and another 1 are bank owned REO’s, for a total of 20 financially distressed single family homes in Aliso Viejo . These distressed home listings represent 49% of the total inventory of detached homes for sale. The median price of these distressed properties is $570,000 and the average price per square foot is $265 .

For attached condominiums, there are 68 condo units currently listed for sale in Aliso Viejo . The median price for these listed condominiums is $349,000 and the average price per square foot is $270 . Of this total, 43 short sale condo listings, and another 3 are bank owned foreclosed condos listed for sale in Aliso Viejo , for a grand total of 46 financially distressed condo listings. The median price of these distressed condos is $319,000 , and the average price per square foot is $256 . The ratio of distressed condo listings to the total listings is 68% .

Currently, there are 57 detached homes under contract in escrow, and the median price of these pending properties is $529,000 . Of this total pending properties, 37 are short sales, and another 2 are bank owned REO properties. This is a total of 39 financially distressed homes, which is 68% of the total detached properties in escrow in Aliso Viejo , and the median price is $550,000 .

For condominiums, there are now 132 attached units in escrow, and the median price is $310,000 . Of this number, 101 are short sales in escrow, and 14 are bank owned REO condos in escrow in Aliso Viejo . This total of 115 distressed condos is 87% of the total units in escrow, and the median price is $357,000 .

In the past 90 days, there have been a total of 70 detached homes that have sold and closed escrow in Aliso Viejo . The median price of these sold homes was $542,000 and the average price per square foot was $288 . Comprising of this total were 17 short sale properties, and 7 bank owned foreclosure homes, for a total of 24 distressed homes that have sold in Aliso Viejo in the past 3 months. This number of distressed sales is 34% of the total, and the median price was $534,000 , and the average price per square foot was $286 .

For attached condos, there have been a total of 126 condo sales in the past 3 months. The median price was $320,000 , and the average price per square foot was $252 in Aliso Viejo . In addition, there were 50 condos that sold and closed, and another 27 REO units that sold in the past 90 days. This was a total of 77 distressed condos, which is 61% of the total number of units sold in this period. The median price of the sold condos was $290,000 , and the average price per square foot was $238 .

As can be seen above, the ratio of Active distressed listings, to Active total listings is a much higher percentage, compared to the ratio of Sold distressed properties to Sold total properties. This illustrates that short sales fail at a high rate. Therefore, property owners who owe more than their home is worth, should work with an experienced Aliso Viejo short sale realtor. For more information, feel free to call: (888) 201-7066, or email us at: Info@ShortSalesASAP.com.

Ladera Ranch Distressed Property Realtor Report

by vbindi on February 4, 2010

We specialize in short sale listings here in Ladera Ranch.  We have gathered statistics for active listings and sales statistics for all listings, short sales and bank owned REO properties for Ladera Ranch residential real estate, which is reported herein. Currently there are 69 detached homes listed for sale in Ladera Ranch, CA. Of this total, 26 are Short Sale properties, and 2 are bank owned foreclosures, for a total of 28 financially distressed homes listed for sale, which represents 40% of total.

For attached condominiums, there are a total of 31 units currently listed Active for sale in Ladera Ranch. Of this total, 17 are pre-foreclosure short sale properties listed for sale, and 4 bank owned REO condos listed for sale. This is a total of 21 financially distressed condos which represent 68% of the total.

Now will look at properties Pending under contract and sold in the past 90 days. for detached homes in Ladera Ranch, there are a total of 90 detached homes under contract Pending in escrow. Of this total, 75 are short sale properties, and another 5 detached homes in escrow are bank owned foreclosures. There is a total of 80 distressed properties, which represents a whopping 88% of all detached homes in escrow are financially distressed in Ladera Ranch at this time.

For condos, there are currently 71 attached units pending in escrow in Ladera Ranch. Of this sum, 58 are short sales pending in escrow, and 8 are bank owned REO condos in escrow. This is a grand total of 66 financially distressed units in escrow, which is 93% of the total.

In the past 90 days, there have been a total of 84 detached homes that have sold and closed escrow in Ladera Ranch in the past 90 days. Of this total, 28 are short sale listings that have closed escrow, and 7 were bank owned REO properties. This is a total of 35 financially distressed homes that have sold and closed, which results in 41% of the detached homes sold in the past 90 days were financially distressed in Ladera Ranch.

For condos, the results are very similar. There were 40 attached condos that have sold and closed escrow in Ladera Ranch. Of this amount, 21 are short sale listings, and 3 were bank owned foreclosure condos. This represents a total of 24 financial distressed condos that have sold, which is 60% of the total sold condominiums in Ladera Ranch.

Of note, is the fact that most of the properties that are selling in Ladera Ranch are financially distressed. We find this same result in many other Orange County cities for buyers are currently shopping for bargain priced homes.

Also of interest is the fact that for properties under contract Pending in escrow, about 90% of all escrows are financially distressed properties. Although when you look at properties that have actually closed escrow, that ratio drops down substantially to 41% for detached homes, and 60% for condos. We also find this large decrease in other Orange County cities as well. This is due to the fact that many short sale properties are being conducted by Realtors who have very little experience in these complex transactions and this results in a high failure rate.

An important fact for Ladera Ranch homeowners is there are only a handful of short sale experts who specialize in bank negotiations and sales, and close at a rate of 95% or more, such as our team at Short Sales ASAP. For questions, please feel free to email us at: Info@ShortSalesASAP.com or call us at: (949) 254-4775.

Low Priced Homes are Red Hot in Orange County

by vbindi on January 18, 2010

Orange County, CA: After the major price correction that began in the summer of 2006′, the local real estate market continues to be strong. demand is exceeding supply in most all price levels, except for homes priced above $1.1 Million. The average Months of Inventory is just 1.55 Months for all price range of homes, and for lower priced homes, the months of inventory is just 0.9 Months. Below is a graph of the Months of Inventory for south Orange County residential real estate. As can be seen in this graph, the months of inventory has dropped dramatically since the peak in late 2007′, and has been hovering around the 1.5 to 2 Months level for nearly 8 months now.

This dramatic improvement in the local market is a result of the low inventory of homes and condos for sale, and the strong demand that has resulted from the large drop in property values, and the historically low interest rates.  The low level of Months of Inventory has put a halt to price reductions as can be seen in the graph below.  The Price per Square foot is a much more accurate indicator of relative price movements for a given area, than a calculation of Average or Median prices.   The graph below shows that prices have declined about 32% from the peak in pricing in the summer of 2006′.  Pricing has remained relatively flat for most of 2009′ at the $300 per Square Foot range for detached homes, and $275 per Square Foot for attached condos in Orange County.  For more information about property values here in Orange County, feel free to contact us at:  (949) 388-3396 or email us at:  Info@eVantageRE.com

Laguna Niguel Home Prices Holding Steady

by vbindi on January 11, 2010

Laguna Niguel, CA -  The local real estate market has gone through a severe correction that started back in the summer of 2006′.  Since that time, prices have declined approximately 30% for detached homes, and for attached Condos, prices have dropped about 38% since the peak in mid 2006′. 

Recently though, the inventory of homes for sale has declined substantially in Laguna Niguel.  Also, the rate of sales has increased during this same period of time, from mid 2006′  to today.  This strengthening demand for the Laguna Niguel real estate market has resulted in a stabilization of home prices.  Throughout most of 2009′ actual sales prices for detached homes have held steady at $310 per square foot.  And for condominiums, prices have firmed actually resend in 2009′ by about 3%, to a level of $260 per square foot today (Price per Square Foot is a much more accurate measurement of price movement than the Average or Median) 

Currently, there are 145 detached homes listed for sale in Laguna Niguel, ranging in price from a low of  $479,000 for a 3 bedroom, 2.5 bath, 1,455 square foot home in the Seagate subdivision.  On up to $7,875,000 for a 7 bedroom, 9 bath, 11,000 square foot estate in the Bear Brand Ranch neighborhood.  The Median price of all detached homes Active for sale is $849,000 in Laguna Niguel.

In addition, there are 127 attached condominiums that are currently listed for sale in Laguna Niguel.  These attached units range in price from $179,000 for a 1 bedroom, 1 bath, 760 square foot flat in the Crystal Cay tract, on up to $749,000 for a 3 bedroom, 3 bath, 2,379 square foot attached townhome in the Marina Hills neighborhood.  The median priced condo is currently $349,000.

For more information about the  Laguna Niguel real estate market and home prices, please feel free to contact us at:  (949) 388-3396  or  Info@eVantageRE.com

Loan Modification Failure Rate is Alarming

by vbindi on January 10, 2010

The new Obama administration has committed $50billion of Federal tax dollars towards the Home Affordable Modification Program (HAMP).  As of December of 2009′, over 650,000 homeowners nationwide have applied for and been placed in trail modifications.  And of these 650,000 applicants, only 2,000 homeowners have been granted permanent Loan Modifications.  That is a success rate of less than 1% !

In December, the Obama Administration issued a warning to the major banks to increase the rate of processing and approvals of loan modifications.  But some recent studies have shown that high rate of denied loan modifications  may not be the solely the fault of the major banks.  There were three basic reasons found. One, many homeowners are unable to make the payments offered during the 3 month trial period, for high unemployment continues to erode the economy.  Two, some homeowners realize that even with a loan modification, they are still going to owe much more than their home is worth. In Orange County, reports have shown that 1 in 5 homeowners are upside down on their mortgage loan.  When offered the 3 month trial loan modification, many borrowers still decide that the home is still too much of a financial burden on their family.  The 3rd reason was that many Banks have reported that in some areas of the country, the have received less than 25% of the required paperwork from borrowers in order to make a financial loan modification analysis.

Hopefully, the pressure being placed on the major banks will help to improve the acceptance rate of HAMP loan modifications.  Probably in an effort to hedge its bet though, the federal government has recently rolled out its new and improved HAFA program, late last year.  This HAFA program was created to provide incentives to banks to accept short sales or a deed-in-lieu of foreclosure.  A homeowner must be declined for a HAMP loan modification, before they can be considered in the HAFA program short sale or deed-in-lieu.  For Orange County homeowners desiring more information, click on one of the links regarding Loan Modification or Short Sales.

Orange County Luxury Homeowners use Short Sales as Defaults Rise

by vbindi on January 3, 2010

Nationwide, homeowners with mortgages of more than $1 million are defaulting at almost twice the U.S. rate.  In Orange County CA.,  the ratio is almost the same, and many of these property owners are turning to Short Sales to unload properties as stock-market losses and pay cuts squeeze wealthy borrowers.  Some Orange County upper end homeowners  have reached the point where they can’t afford the carrying expenses of a $2 million home.

Nationwide, payments on about 12 percent of mortgages exceeding $1 million were 90 days or more overdue in September, compared with 6.3 percent on loans less than $250,000, according to data from First American CoreLogic Inc.  The rate for mortgages above $1 million was 4.7 percent a year earlier.  In Orange County, about 16% of mortgages exceeding $1 Mil are 90 days or more delinquent. 

Short sales almost tripled to 40,000 in the first six months of 2009 from the same period a year earlier Nationwide, according to data from the Office of Thrift Supervision. In Orange County, there were 2,390 short sale closing in the first 6 months of 2009, compared to just 1,007 for the same period a year before, which represents more than a 100% increase.  For the entire year of 2009′, there were 5,414 short sale closings, and 114 of those properties were priced at $1 Million or more.

There are 114,000 home loans of more than $1 million Nationwide, according to First American.  About a quarter of all mortgaged homes in the U.S. have loan balances bigger than their current value, known as being upside down or underwater.  For more information about short sales in Orange County California, feel free to email us at: Info@ShortSalesASAP.com, or call us at: (949) 254-4775, or visit our website at:  www.ShortSalesASAP.com

Mission Viejo Homes are Selling Fast

by vbindi on December 17, 2009

The local real estate market here in Mission Viejo and Orange County has gone through a major price correction that began in the Spring of 2006′.  In the Spring of 2006′ the Median sales price for a detached home (SFR) in Mission Viejo was $735,000, and for attached condos the median price was $485,000 at that time.  Today, the median sales price for SFR homes is $515,000, and $315,000 for Condominiums.  This represents a price decline of 30% for detached homes and 35% for attached Condos in Mission Viejo.

Due to this severe decline in prices, and historically low interest rates, well priced homes and condos are selling very rapidly in Mission Viejo.  The most accurate measure of the strength or weakness of any local real estate market is the measure of Months of Inventory.  Months of Inventory is a standardized statistic of the calculation of how many months it would require to sell the current existing inventory of homes for sale.  This is basically a calculation of the ratio of the number of homes active for sell, compared to the rate at which homes are currently selling.  The larger the inventory of homes, and the slower rate of sales produces a large calculation of Months of Inventory.  Correspondingly, and small Months of Inventory represents a strong Sellers market.

Currently the months of inventory for attahced Condos in Mission Viejo is a very low 0.6, and the months of inventory for detached homes is a low 0.9.    That is to say iw would only take 2.5 weeks to sell out the entire inventory of  condos  currently for sale, if no other condos were added on the market for sale in Mission Viejo.  Tht is a supre red hot sellers market.  And likewise for detached homes.  Traditionally, a Months of Inventory of greater than 6 months is a soft Buyers market.  A figure of 4 to 6 months is considerd a Neutral market, and 2 to 4 months is a Selelrs market.  And anything below 2 Months is a hot Sellers market.   So unlike the reports in the press of a depressed real estate market, the fact is, prices are selling fast at tody’s low prices.  For more information about Mission Viejo or Orange County real estate, please feel free to contact us at:  (949) 388-3396 or email us at:  Info@eVantageRE.com.  Also, if you would like to view all Mission Viejo Condos or single family Homes for sale online, without having to speak with a Realtor at this time,  just visit our website at:  eVantageRE.com

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