Wednesday, November 24, 2010

Forecast: Calif. home prices to drop 9.9%

The OC register reports - Real estate trackers from FiServ and Moody’s forecast that California home prices will fall 9.9% in the year ending in June 2011 — fourth biggest drop across the nation.  Essentially, all meager gains from June 2009-2010 will evaporate......

Saturday, November 20, 2010

Recent Sales Weigh on 26 Cruisers Bluff

26 Cruisers Bluff, for sale at $5,300,000, is a White Sails model built by Taylor Woodrow in 2004.  It has 4 bedrooms and is about 5000 square feet and has very nice ocean views.  On a per square foot basis, it is priced at $1060 and this home last sold in mid-2008 for $5,175,000.

Two other White Sails homes have recently sold, both about 5000 square feet in size.  2 Gondoliers Bluff sold on November 8 for $4,100,000.  36 Gondoliers Bluff sold just 8 days later for $4,074,000.

Both of these recent sales were sold at prices of about $820 per square foot.  You can draw your own conclusions.....
One last data point - 2 Gondoliers Bluff is a fantastic home, as shown by the photo below:

Tuesday, November 16, 2010

Laguna Letdown - Housing Prices Flat & Sales Sinking Marketwide - OC Register

More details at the OC Register, but in short, the housing market continued to struggle against fierce headwinds last month, losing ground in the face of tightfisted lenders and edgy buyers.

The median price of an Orange County home – or price at the midpoint of all sales – fell to $438,000 last month, housing tracker MDA DataQuick reported Tuesday.

Last month's median price also fell $12,000 from the 2010 high of $450,000 reached in May and July. That means that all the price gains of the past year have virtually evaporated.

Thursday, November 11, 2010

$2 Million+ Homes Not Selling In Laguna - OC Register

It’s common to see homes for sale with prices well over $1 million in Laguna Beach, but is anyone buying those homes right now?  Not really....
More on this from the OC Register is here.

Monday, November 1, 2010

Freshest Dataquick Sales Numbers Show Continued Home Value Slide

The latest housing numbers for sales during the 22 day period ending October 8 have just been released and have been published by the OC Register.

The numbers show a continued plunge in Laguna Beach and Newport Coast.  Corona Del Mar is slightly up year over year, but is unchanged from the September data i previously posted. 

The highlights:
Laguna Beach:
only 32 homes sold, median price down 19.2% to $1,050,000.

Coronal Del Mar:
only 20 homes sold, median price up 3% to $1,498,000.

Newport Coast:
only 19 homes sold, median price down 8.1% to $1,540,000