The March home sale prices for Laguna Beach have been put into Zillow's Zindex market gauge. The results? More decline.
If you track the present value back via the horizontal line, then go down to the time scale, you can see that the fair value in Laguna beach has rolled back to June, 2004. Many houses in Laguna are not selling. Why? They are priced much more than June 2004 values. Not good news for homeowners, but either they want to sell or they don't - it is that simple.
Nice post and chart. Thanks!
ReplyDeleteHere are Laguna's champions among clueless sellers:
ReplyDelete620 Thalia $1,589,000 - DOM: 719
56 South La Senda: $3,200,000
DOM: 580
Apt.-to-Condo Conversion at 174 Cliff Drive: DOM 410
11 Camel Point: $9,500,000
DOM: 374
1015 Tia Juana: $2,099,000
DOM: 362
Looking to buy in Laguna...my realtor started talking about what it takes to make a "strong offer". I think she is stuck in 2006 when competing offers were common. She is no longer my Realtor.
ReplyDelete