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
by vbindi on September 9, 2009
Currently there are 16 foreclosed homes and condos listed for sale in Laguna Niguel. A foreclosed property is one in which the homeowner fell behind on their mortgage payments, and the mortgage bank instituted a Foreclosure proceeding. After the 3 month Notice of Default process, and the 3 week Trustee Sale process, the property is sold in an Open Auction. If no one bids at this Auction, then the foreclosing bank winds up owning the home.
Banks are the ultimate motivated buyer. They have no emotions wrapped up in the home, and are extremely motivated to sell the home very quickly for several reasons. Therefore, most banks price their foreclosed home inventory below market value so they sell quickly.
Below is the list of all foreclosed bank owned homes currently listed for sale. These homes and condos range in price from $198,000 for a 1 bedroom, 1 bath condo, comprising of 873 square feet. On up to $775,000 for a 5 bedroom, 3 bath, 2,600 square foot detached home. Click on this Hyper-link to view all foreclosed homes currently listed for sale in Orange County, city by city.
If you would like to view any of the homes listed for sale, of if you have any questions about Laguna Niguel foreclosed homes, feel free to call us at: 949-388-3396 or email us at: Info@BankHomesMLS.com
| Type |
Address |
Bd |
Ba |
SqFt |
Price |
| CONDO |
9 Pearl |
1 |
1 |
873 |
$198,900 |
| CONDO |
24421 Avenida De Los Ninos 64 |
2 |
1 |
900 |
$220,000 |
| CONDO |
7 Avalon Cv |
2 |
2 |
1,120 |
$272,500 |
| CONDO |
21 Flamingo Ct 104 |
3 |
2 |
1,221 |
$309,900 |
| CONDO |
17 Glen Cv 2 |
2 |
2 |
1,100 |
$336,000 |
| CONDO |
27425 Newporter Way 255 |
3 |
3 |
1,597 |
$379,900 |
| SFR |
4 Tobago |
2 |
3 |
1,605 |
$413,900 |
| CONDO |
176 Cameray Hts |
2 |
3 |
1,450 |
$414,900 |
| SFR |
20 Stream St |
3 |
3 |
1,900 |
$499,900 |
| SFR |
30461 Via Alcazar Ave |
4 |
2 |
1,960 |
$589,000 |
| SFR |
24626 Los Serranos Dr |
5 |
3 |
2,100 |
$650,000 |
| SFR |
31662 Isle Royal Dr |
4 |
3 |
2,468 |
$651,000 |
| SFR |
21 Trestles |
4 |
3 |
2,719 |
$697,950 |
| SFR |
24036 Piragua Pl |
4 |
3 |
2,500 |
$759,000 |
| SFR |
30381 Via Alcazar Ave |
5 |
3 |
2,600 |
$775,000 |
by vbindi on June 24, 2009
There are currently 193 detached homes listed for sale in Laguna Niguel – Orange County, Ca. There prices range from $449,900 for a 3 bedroom, 2 bath, 1,303 SqFt home up to $8,995,000 for a 6 bedroom, 8 bath, 10,000 square foot 8 car garage estate in Monarch Point. The Median price is $989,000, and the average price is $1,432,688. Average price per square foot is $404/SqFt and average days on market is 106 days.
For detached homes, there are 82 properties currently under contract in escrow in Laguna Niguel. These properties range in price from $435,800 for a 3 bedroom, 2 bath, 1,446 square foot home, on up to $2,990,000 for a 5 bedroom, 7 bath, 6,000 square foot, 6 car garage estate in the Coronado Pointe community. The median price of homes currently in escrow is $695,000.
In the past 60 days, there have been 67 detached homes that have sold and closed in Laguna Niguel. These homes range from $340,000 for a 3 bedroom, 2 bath, 1,341 square foot home, on up to $5,040,000 for a 5 bedroom, 6 bath, 6,300 square foot estate in the Bear Brand Ranch tract. The median price home is $750,000 and the average price home that sold in the past 2 months was $1,037,332. The average price per square foot was $345/SqFt and average days on market was 108 days.
One year ago at this same 60 day time period, there were 95 homes that have sold and closed escrow in Laguna Niguel. These homes ranged in price from $480,000 for a 4 bedroom, 2 bath, 1,450 square foot home, on up to $4,400,000 for a 5 bedroom, 6 bath, 7,600 square foot estate in the South Peak subdivision. The median sold home price was $799,500 and the average price was $998,803. The average price per square foot was $367/SqFt and average days on market was 79 days, just one year ago.
Comparing today’s prices to one year ago prices we find the following; The Median price has dropped by 6%. The average home price has actually gone up by 3.8%. The Price per Square Foot has dropped by 6%. For more information about Laguna Niguel Real Estate, please feel free to call us at: 949-388-3396
by vbindi on April 5, 2009
Short Sale Case Study #32 - We will describe another successful Short Sale for a detached home located in Laguna Niguel, Ca. The details of the short sale such as; property address, exact loan amounts, and names will not be revealed to protect the privacy of the previous homeowner.
Property and Finance Details: This Laguna Niguel home was a 4 bedroom, 3 bath, 3 car garage with 3,150 square feet of living area. This detached home was originally purchased in the Spring of 2004′ for $885,000 with a 10% down mortgage. In the summer of 2007′ an equity loan (HELOC) was also taken out on the home for about $245,000 with National City Mortgage. This property was sold via a Short Sale in the winter time of 2009′ by the ShortSalesASAP team.
Market Condition: Home prices have dropped dramatically in southern California due to the severe recession and nationwide financial crisis. More specifically, prices have been dropping about 1% per month for the past 2.5 years in Laguna Niguel, although there are now signs that prices may be leveling off. The homeowner experienced a financial hardship and was no longer able to keep current on the mortgage loan payments. They inquired into a Loan Modification, but even in the most optimistic scenario, they still would have been about $300,000 upside down on their home mortgage.
Preparation Stage: After we signed the listing agreement with the homeowner, we gathered all of the required documents from the homeowner. After review and packaging, we delivered these documents to the 1st and 2nd banks to present our short sale case. After some tricky and difficult negotiations, our expert team was able to obtain preliminary approval for the Short Sale with tentative terms and conditions. During this preliminary short sale approval phase, the homeowner was able to live in the property as normal. There were no interruptions from other agents or prospective home buyers, and due to their hardship, they were living rent free. This Preparation Phase took about 6 weeks to complete.
Sales and marketing Stage: Once the short sale was tentatively approved, we placed this Laguna Niguel property on the market for sale. It was listed in the Multiple Listing Service (MLS) for a price of at a price of $825,000. After a period of about 3 weeks with no offers, we dropped the price to $789,000. A week later we received an offer from a loan qualified buyer for $735,000. After several days of counter negotiations, we obtained a purchase price of approximately $750,000.
Closing Stage: In the final stage of this short sale process, we obtained the signed offer from the Buyer, and gathered the other required Short Sale disclosures and Buyers loan qualification paperwork. We submitted this package to the 1st and 2nd mortgage banks, to conduct the final short sale adjustments of the terms, conditions and costs. After some tough negotiations with our specialists obtained the updated short sale approval letter from the 1st and 2nd Mortgage Banks. Once we received these bank approval letters, we moved forward with the closing of escrow. The last Phase was completed in about 21 days.
The result was that the entire debt on the home was removed from the homeowner. The homeowner was able to live in their home during this short sale process and did not make any mortgage payments payments. Most importantly, if this home were to been lost in Foreclosure, the 2nd Mortgage HELOC loan would still be owed by the homeowner after the 1st mortgage lender foreclosed. As a result of this short sale though, the convinced to the 2nd Mortgage Bank to accept to small pay-off we generated for them as a settlement in full. The homeowner is now working with our credit restoration affiliate and their credit rating should be repaired to a level where they should be able to buy again home by 2010′ .
ShortSaleASAP is licensed with the California Department of Real Estate, and our services are free to the homeowner, for we are paid by 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
