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Mission Viejo Bank Owned Condos Market Update.

by Vince Bindi on January 5, 2012

This report is for standard sales and bank owned foreclosure Condominiums in Mission Viejo , and is brought to you by the Broker at eVantage Real Estate. Currently, there are a total of 81 condo units currently listed for sale in Mission Viejo . The median price for these listed condominiums is $272,000 and the average price per square foot is $221 . Of this total, 12 are bank foreclosure condo listings. The median price of these bank REO condos is $214,900 , and the average price per square foot is $205 . The ratio of bank owned condo listings to total listings is 15% .

For condominiums, there are now 75 attached units in escrow, and the median price is $229,900 . Of this number, 10 are bank foreclosure Condos in escrow in Mission Viejo . These bank Owned condos are 13% of the total units in escrow, and the median price is $239,900 .

For attached condos, there have been a total of 67 condominium sales in the past 3 months. The median price was $260,000 , and the average price per square foot was $214 in Mission Viejo . In addition, there were 18 bank foreclosure condos that sold and closed escrow during this same period of time, which was 27% of the total number of units sold. The median price of the sold bank owned condominiums was $209,500 , and the average price per square foot was $201 .

For more information about bank owned foreclosure properties, please visit our website at: Mission Viejo Bank Owned Homes & Condos. For Questions, or if you would like to see the inside of any Foreclosure property, feel free to call: (949) 388-3396, or email us at: Info@eVantageRE.com.

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Lake Forest Bank Foreclosure Real Estate report.

by Vince Bindi on January 4, 2012

This article was written by the Distressed Property team at eVantage Real Estate, who specialize in short sale and bank owned homes here in Lake Forest . This article will report the statistics for Active for Sale and Sold standard listing properties, as compared to Bank Owned foreclosure properties. Currently, there are 106 detached homes listed for sale in Lake Forest , California. The median price of these homes for sale is $519,000 and the average price per square foot is $265 . 6 of these active listings are Bank Owned REO’s, which represent 6% of the total inventory of detached homes for sale. The median price of these bank foreclosure properties is $534,900 and the average price per square foot is $257 .

For homes under contract, there are 83 detached homes in escrow on this date, and the median price is $444,900 . Of this total, 6 are bank foreclosures in escrow, which is 7% of the total detached properties in escrow in Lake Forest , and the bank owned property median price in escrow is $369,900 .

In the past 3 months, there have been a total of 107 detached homes that have sold and closed escrow in Lake Forest . The median price was $453,000 and the average price per square foot was $249 . Of this total were 15 were Bank Owned properties in the city of Lake Forest in the past 3 months. This number of sold bank foreclosures is 14% of the total. The median price was $417,000 , and the average price per square foot was $233 .

If you would like more info regarding bank foreclosure properties for sale, click the following link to visit our website at: Lake Forest Bank Owned Homes & Condos. If you would like to speak with a real estate professional, or see the inside of any Foreclosure property, feel free to call: (949) 388-3396, or email us at: Info@eVantageRE.com.

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Irvine Real Estate Market Update

by Vince Bindi on November 2, 2011

This Market Update is for all Condominiums currently active for sale and units that have sold in the recent past for the City of Irvine . This market report is brought to you by the professional realtors at eVantage Real Estate here in Orange County, CA. Currently there are 266 attached condos listed for sale, and these units have median price of $419,000 and an average price per square foot of $304 . These condominiums range in price from a low of $130,000 for a unit comprising of 1 bedroom, 1 bath, and 475 square feet, that is situated in the Irvine Springs Tract. Up to a maximum price of $782,697 for a roomy condo consisting of 4 bedrooms, 4 baths, with 2,632 square feet found in the La Casella Subdivision.

There are 242 Condo units now pending in escrow in Irvine , that have a median price of $375,000 . These units range in price from $119,000 for a 0 bedroom, 1 bath, 471 square foot condominium, situated in the Irvine Springs Subdivision. On up to a high price of $925,000 for a fine condo comprised of 2 bedrooms, and 3 baths, with 1,930 square feet, located in the The Plaza Subdivision.

For attached Condos Sold in the past 3 Months, there were 191 such units that succesfully closed escrow in Irvine , California. The median price of these attached units was $390,000 with an average price per square foot of $291 . These sold condominiums ranged in price from a low of $119,000 for a 0 bedroom, 1 bath, 465 square foot unit found in the Irvine Springs condo Tract. The maximum priced sold condo was $1,380,000 for a nice unit comprised of 3 bedrooms, 4 baths, and 2,390 square feet found in the The Plaza Tract.

For more info about condominiums for sale in Irvine , please feel free to contact us at: (949) 388-3396, or email us at: Info@eVantageRE.com . Of visit our Irvine Condos for Sale Website.

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18 Sky Ranch Rd, Covenant Hills fine Home for Sale

by Vince Bindi on May 18, 2011

eVantage Real Estates Luxury home division just listed another fine property located 18 Sky Ranch Rd in Covenant Hills, Ladera Ranch, CA.  This estate property recently listed by Nick Roshdieh comprises of 5 bedrooms, 5.5 baths comprised of 6,250 square feet of living area.  The architecture is modern Mediterranean and boasts of a gourmet kitchen and panoramic views.  Backyard contains a rock waterfall into a infinity pool and heated spa, and the yard space also incorporates several water fountains and an outdoor fireplace.

The interior of the home custom molding throughout, solid wood doors, archways and much more.  The gourmet kitchen has granite tops and comes a large island, Paykel dishwasher, and walk-in pantry.  For more information on this fine home, visit our website a Covenant Hills fine Homes.   Or you may contact Nick at 949-254-4775 for a private showing or for questions.

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Orange County Real Estate Market Report

by Vince Bindi on September 10, 2010

Welcome to the eVantage Real Estate’s monthly Orange County Real Estate Market Report. We chart Months of Inventory, Active vs Pending and Price per Square Foot for the south Orange County real estate market,  using our own proprietary indicators.  These charts are more time responsive and accurate compared to what is published by the traditional sources.(ie: Major Banks, Title Co’s, News Periodicals). The higher the Months of Inventory, the slower the market, and visa versa.

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The overall Months of Inventory for All Price Ranges is still rising as a steady rate, which indicates the market is slowing down. This is due to a combination of the 1t Time Homebuyer Tax Credit termination, and the dog Days of Summer slowdown… the true test will come around September or October, for in past years, this indicator would max out and then decline in those months…. if it does not Max out this time, this may signal the beginning of double dip in home prices.

All Price Ranges are beginning to slow down, with the High End (Prices above %1.1Mil) as usual, being the softest at around 11.5 Months of Inventory which is a soft Buyers market. On the other end of the spectrum at the “Less than $450,000″ price range, the months of inventory is 1.8 months, which is a brisk Sellers Market, often times results in multiple offers on well price listings… Albeit, most of these lower priced listings that sell quickly are either bank owned REO properties or short sales.

The Inventory of Active Homes for sale continues to steadily rise since the beginning of this year, while the rate of sales (Pending in Escrow), has been steadily declining since April/May of this year. Of interesting note, is the number of  Homes Pending at this time compared to last year… The national press has been making the headlines about how the number of sales (or homes Pending under contract) has dropped by 25% in July of this year, as compared to July last year. The rate of sales in south Orange County has started to decline since April, but at a much slower rate of decline compared to national reports. In July of this year, the number of homes in Escrow was 1,809, as compared to last July which had 1,736, which actually represents an increase of 4%… not a decline of 25%.

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As we estimated well over a year ago, the overall dramatic decrease in the Months of Inventory put a halt to price reductions… prices have been holding steady for over a year now. If the Months of inventory keeps rising, and does not Max out in October, we may see an additional small decline in prices in the months ahead.

For more information about Orange County real estate, feel free to contact eVantage Real Estate at:  (949) 388-3396

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New Bank of America Short Sale program helps Orange County Home Owners

by Vince Bindi on August 19, 2010

Bank of America is now starting a new short sale program that will target certain homeowners, in the hard hit states of  California, Florida, Arizona and Nevada, according to a top level B of A official.  In this new program, B of A  will pre-screen home owners who have been considered for a modification under the Home Affordable Modification Program (HAMP) and a short sale under the Home Affordable Foreclosure Alternatives (HAFA) program.  And these borowers have either fallen out of  these programs or were declined during the qualification process.

Bank of America states that the purpose of this program is give these home owners a better alternative, then foreclosure. They intend to provide a custom program with incentives that are attractive to homeowners experiencing a true hardship.  This type of proactive response will help to bring stability to the beleaguered Orange County housing market.  This new test short sale program, was developed to streamline the process.  In that regard,  B of A will use the previous documents that the home owner had submitted, so that no new documents are needed from the prospective seller. 

One of the very important beneifts of this new Bank of America short sale program, is that they will be waiving deficiencies, which is the difference between what the home sells for and how much is left on the mortgage.  This is a huge benefit to any Orange County home owner who may be contemplating a short sale with a Bank of America loan.  Another beneficial feature of this new short sale program, is the B of A will offer the seller a $3,000 relocation fee, for cooperating with the short sale.  If  the property does not sell, then B of A will consider a deed-in-lieu of foreclosure in order to satisfy the mortgage.

B of A will not be selecting which real estate agent to work with, therefore it is advised that a homeowner work with a certifeid and experienced short sale realtor.  B of A will assign a short sale specialist to work with the real estate agent and the homeowner to market the property for 120 days.  Letters have already been mailed to qualified homeowners, and this will be a six month trial program. 

One of the major stumbling blocks to getting short sales approved, is that the for many loans, the beneficiary is some other investment institution other than Bank of America, and it is often difficult for B of A to get that investors approval in time to meet the time lines of a purchase offer.  In this test program, B of A has worked with the investor before hand, to get their preliminary approval so that the short sale can close faster.

There is great need for short sales at this time.  Freddie Mac recently reported that its short sale figures were up 600% from two years ago and said it had completed 22,117 short sales in the first half of 2010, up nearly 180% from 7,914 in the first half of 2009.  In addition, a research firm named Core Logic, has reported taht short sales in the US have tripled since 2008. In addition,   Bank of America has completed more than 25,000 short sales to date.  B of A is committed to improving the short sale process, and test for new ways of completing short sales to help their  customers avoid foreclosure with a dignified exit.

For more inforamtion or questions about short sales in Orange County, HAFA short sales, or the new Bank of America short sale program, feel free to contact the short sale experts at ShortSalesASAP.com  or email us at:  Info@ShortSalesASAP.com

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Dana Point Homes and Condos market update.

by Vince Bindi on May 4, 2010

This is a statistical report for Active for Sale and Sold homes and condos in Dana Point . This report is brought to you by the professional realtors at eVantage Real Estate in Orange County, CA. Today, there are 170 detached single family homes for sale, with a median price of $1,200,000 and an average price per square foot of $621 . These homes are priced from a low of $381,959 for a 3 bedroom, 2 bath, 1,224 square foot home located in the subdivision called Custom . On up to a maximum price of $24,999,000 for a fine home incorporating 5 bedrooms, 8 baths, with 9,700 square feet of living area, which is located in the The Strand at Headlands Tract.

For attached condos, there are currently 76 condos active for sale in Dana Point . The median price of these condos is $515,000 and the average price per square foot is $406 . These listed condos range in price from a low of $168,900 for a unit comprising of 1 bedroom, 1 bath, 700 square foot, that is situated in the Harbor Creek Tract. Up to a maximum price of $2,650,000 for a roomy condo consisting of 3 bedrooms, 3 baths, with 3,101 square feet found in the Admiralty Subdivision.

For properties currently under contract in Dana Point there are 68 detached homes in escrow, and the median price is $895,000 . These detached homes range in price from a low of $399,900 for a 3 bedroom, 2 bath, 1,145 square foot property located in the Custom Tract. On up to a maximum price of $3,399,000 for a fine property comprising of 4 bedrooms, 4 baths, and incorporates an expansive 4,475 square feet of living area, located in the Monarch Bay Tract.

For condos, there are 50 units now in escrow in Dana Point , with a median price of $461,900 . These pending units range in price from $154,000 for a 1 bedroom, 1 bath, 700 square foot condominium, located in the Harbor Walk Subdivision. On up to a maximum price of $1,795,000 for a fine condo consisting of 3 bedrooms, and 5 baths, with 3,651 square feet, found in the Admiralty Subdivision.

In the past 90 days, there have been 42 detached homes that have sold and closed escrow in Dana Point . These sold homes had a median price of $717,500 with an average price per square foot of $423 . These closed homes range in price from a low of $355,000 for a detached home comprised of 2 bedrooms, and 1 bath, with 1,011 square feet, and is located in the Custom Subdivision. And a maximum price of $5,950,000 for an estate property comprising of 5 bedrooms, 7 baths, and a spacious 6,378 square feet located in the Niguel Shores Tract.

For the past 3 months, there have been 42 attached condominiums that have sold and closed escrow in Dana Point , California. The median price of these attached units was $415,000 and the average price per square foot was $315 . These sold condominiums ranged in price from a low of $175,000 for a 1 bedroom, 1 bath, 650 square foot unit found in the Harbor Creek condo Tract. And the maximum priced sold condo was $1,050,000 for a nice unit comprised of 4 bedrooms, 4 baths, and 3,300 square feet that is situated in the Monarch Del Mar Tract.

If you have any questions regarding real estate for sale in Dana Point , 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 Dana Point .

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Newport Coast Real Estate report.

by Vince Bindi on April 16, 2010

This is a statistical report for Active for Sale and Sold homes and condos in Newport Coast . This report is brought to you by the professional realtors at eVantage Real Estate in Orange County, CA. Today, there are 111 detached single family homes for sale, with a median price of $3,200,000 and an average price per square foot of $765 . These homes are priced from a low of $2,075,000 for a 3 bedroom, 3 bath, 2,815 square foot home located in the subdivision called Seabourn . On up to a maximum price of $19,850,000 for a fine home incorporating 6 bedrooms, 8 baths, with 12,500 square feet of living area, which is located in the Pelican Hill Tract.

For attached condos, there are currently 23 condos active for sale in Newport Coast . The median price of these condos is $869,000 and the average price per square foot is $430 . These listed condos range in price from a low of $475,000 for a unit comprising of 2 bedroom, 2 bath, 1,212 square foot, that is situated in the Summit Tract. Up to a maximum price of $2,595,000 for a roomy condo consisting of 4 bedrooms, 5 baths, with 3,850 square feet found in the Seascape Subdivision.

For properties currently under contract in Newport Coast there are 25 detached homes in escrow, and the median price is $2,595,000 . These detached homes range in price from a low of $1,295,000 for a 3 bedroom, 3.5 bath, 2,576 square foot property located in the Belarca Tract. On up to a maximum price of $6,695,000 for a fine property comprising of 4 bedrooms, 5 baths, and incorporates an expansive 6,350 square feet of living area, located in the Crystal Cove Sea Crest Tract.

For condos, there are 10 units now in escrow in Newport Coast , with a median price of $813,000 . These pending units range in price from $587,500 for a 2 bedroom, 2 bath, 1,094 square foot condominium, located in the Trovare Subdivision. On up to a maximum price of $1,099,000 for a fine condo consisting of 3 bedrooms, and 3 baths, with 2,300 square feet, found in the Vistas Subdivision.

In the past 90 days, there have been 37 detached homes that have sold and closed escrow in Newport Coast . These sold homes had a median price of $2,360,000 with an average price per square foot of $571 . These closed homes range in price from a low of $3,365,000 for a detached home comprised of 4 bedrooms, and 5 bath, with 3,670 square feet, and is located in the Nautilus Subdivision. And a maximum price of $8,250,000 for an estate property comprising of 5 bedrooms, 7 baths, and a spacious 11,100 square feet located in the Pelican Crest Tract.

For the past 3 months, there have been 8 attached condominiums that have sold and closed escrow in Newport Coast , California. The median price of these attached units was $675,000 and the average price per square foot was $393 . These sold condominiums ranged in price from a low of $500,000 for a 2 bedroom, 2 bath, 1212 square foot unit found in the Summit condo Tract. And the maximum priced sold condo was $1,150,000 for a nice unit comprised of 2 bedrooms, 3 baths, and 2,300 square feet that is situated in the Vistas Tract.

If you have any questions regarding real estate for sale in Newport Coast , 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 Newport Coast and south Orange County.

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Laguna Niguel Real Estate market update

by Vince Bindi on April 8, 2010

This is a statistical report for Active for Sale and Sold homes and condos in Laguna Niguel. This report is brought to you by the professional realtors at eVantage Real Estate in Orange County, CA. Today, there are 181 detached single family homes for sale, with a median price of $860,000 and an average price per square foot of $377 . These homes are priced from a low of $450,000 for a 2 bedroom, 2 bath, 1,589 square foot home located in the subdivision called Villa Pacifica . On up to a maximum price of $7,995,000 for a fine home incorporating 6 bedrooms, 8 baths, with 10,000 square feet of living area, which is located in the Monarch Point Custom Tract.

For attached condos, there are currently 94 condos active for sale in Laguna Niguel . The median price of these condos is $300,000 and the average price per square foot is $294 . These listed condos range in price from a low of $169,900 for a unit comprising of 1 bedroom, 1 bath, 713 square foot, that is situated in the Crystral Cay Tract. Up to a maximum price of $1,205,000 for a roomy condo consisting of 2 bedrooms, 3 baths, with 2,244 square feet found in the Laguna Sur Subdivision.

For properties currently under contract in Laguna Niguel there are 103 detached homes in escrow, and the median price is $561,000 . These detached homes range in price from a low of $384,900 for a 3 bedroom, 2 bath, 1,303 square foot property located in the Lake Park Tract. On up to a maximum price of $3,690,000 for a fine property comprising of 5 bedrooms, 6 baths, and incorporates an expansive 6,500 square feet of living area, located in the Ocean Ranch Custom Tract.

For condos, there are 104 units now in escrow in Laguna Niguel , with a median price of $285,000 . These pending units range in price from $145,000 for a 1 bedroom, 1 bath, 565 square foot condominium, located in the Rancho Niguel Subdivision. On up to a maximum price of $749,000 for a fine condo consisting of 3 bedrooms, and 4 baths, with 2,379 square feet, found in the Laguna Sur Subdivision.

In the past 90 days, there have been 102 detached homes that have sold and closed escrow in Laguna Niguel . These sold homes had a median price of $680,000 with an average price per square foot of $332 . These closed homes range in price from a low of $445,000 for a detached home comprised of 3 bedrooms, and 3 bath, with 1,500 square feet, and is located in the Terra Nova Subdivision. And a maximum price of $6,075,000 for an estate property comprising of 4 bedrooms, 7 baths, and a spacious 6,900 square feet located in the Bear Brand Ranch Custom Tract.

For the past 3 months, there have been 103 attached condominiums that have sold and closed escrow in Laguna Niguel , California. The median price of these attached units was $270,000 and the average price per square foot was $266 . These sold condominiums ranged in price from a low of $142,000 for a 1 bedroom, 1 bath, 750 square foot unit found in the Hillhurst Condos condo Tract. And the maximum priced sold condo was $1,100,000 for a nice unit comprised of 3 bedrooms, 4 baths, and 3,172 square feet that is situated in the Laguna Sur Tract.

If you have any questions regarding real estate for sale in Laguna Niguel , 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 Laguna Niguel .

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San Juan Capistrano Real Estate Market Update

by Vince Bindi on March 25, 2010

This Market Update report is all real estate currently active for sale and properties sold in the recent past for San Juan Capistrano. This market report is brought to you by the professional realtors at eVantage Real Estate here in Orange County, CA. Currently there are 90 detached single family homes listed for sale, and these properties have median price of $1,198,000 and an average price per square foot of $494 . These properties range in price from a low of $425,000 for a 4 bedroom, 3 bath, 1,877 square foot home located subdivision called Capistrano Heights . The maximum price of homes currently listed for sale is $22,500,000 for a fine estate boasting of 4 bedrooms, 4 baths, with 3,500 square feet of living area, and is situated in the Ortega Custom Neighborhood.

For condominiums, there are now 25 units active for sale in San Juan Capistrano . The median price of these condos is $180,000 and the average price per square foot is $223 . These condominiums range in price from a low of $100,000 for a unit comprising of 1 bedroom, 1 bath, 785 square foot, that is found in the Casitas De Alipaz Tract. Up to a maximum price of $749,000 for a roomy condo consisting of 5 bedrooms, 3 baths, with 2,240 square feet found in the Masters Subdivision.

For homes now pending in contract in San Juan Capistrano there are 52 detached homes in escrow, which have a median price of $795,000 . These properties range in price from a low of $294,000 for a 2 bedroom, 2 bath, 910 square foot property located in the Sun Hollow Area. The maximum price is $2,995,000 for a fine property incorporating 6 bedrooms, 8 baths, with an expansive 8,250 square feet of living area, located in the Hilltop Estates Neighborhood.

There are 55 Condo units now pending in escrow in San Juan Capistrano , that have a median price of $150,000 . These units range in price from $86,000 for a 1 bedroom, 1 bath, 785 square foot condominium, situated in the Alipaz Subdivision. On up to a high price of $499,000 for a fine condo comprised of 3 bedrooms, and 2 baths, with 1,631 square feet, found in the Mesa Verde Subdivision.

For Sold home in the past 3 months, there were 33 detached properties that closed escrow in San Juan Capistrano . These sold homes had a median price of $635,000 with an average price per square foot of $330 . These sold homes ranged in value from a low price of $350,000 for a detached home with 4 bedrooms, and 2 baths, incorporating 1,400 square feet, located in the Harbor Lane Subdivision. And a maximum price of $4,350,000 for an estate property comprising of 6 bedrooms, 9 baths, and a spacious 9,344 square feet located in the Hunt Club Community.

For attached Condos Sold in the past 3 Months, there were 42 such units that succesfully closed escrow in San Juan Capistrano , California. The median price of these attached units was $157,000 with an average price per square foot of $188 . These sold condominiums ranged in price from a low of $80,000 for a 1 bedroom, 1 bath, 785 square foot unit found in the Alipaz condo Tract. The maximum priced sold condo was $537,000 for a nice unit comprised of 3 bedrooms, 2 baths, and 1,646 square feet found in the Mesa Verde Tract.

If you have any questions regarding homes or condominiums for sale in San Juan Capistrano , please feel free to contact us at: (949) 388-3396, or email us at: Info@eVantageRE.com . Of visit our San Juan Capistrano Home for Sale Website.

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