Saturday, October 15, 2011

Summer Recap - Risky to Buy

Time for a summer recap on the housing market from Newport Beach to Laguna Beach. 
Bottom line is that it was a terrible summer for home values in these areas, especially Newport Coast and Laguna Beach.  Sales fell flat compared to last summer, which was itself less than fabulous.  Sale prices are declining, as are the number of sales.  You can hear a pin drop for the lack of homes selling.
In my opinion, buying a property at this time is very risky.  The main risk being that the property you buy continues to go down in value, losing you 10's of thousands of dollars a month. Of course, you won't hear that from your real estate agent, who is hungry for a commission..........




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5 comments:

  1. AnonymousOctober 18, 2011 at 4:15 AM

    abandoning Chicago for the winter. Found a really great deal on an oceanfront rental Nov-Feb Great blog! I'll buy,but not yet.

    ReplyDelete
  2. AnonymousOctober 22, 2011 at 10:21 AM

    Your right bigtime!!!

    ReplyDelete
  3. AnonymousOctober 24, 2011 at 5:28 AM

    KRZ1, which are the good Websites to find a winter rental in the Newport Beach/Laguna Beach area?

    ReplyDelete
  4. AnonymousOctober 24, 2011 at 10:29 AM

    i look at the following for rentals in Laguna

    pcwnotify@themls.com

    http://www.lagunacoastrealestate.com/
    http://www.teamlaguna.com/index.htm

    i also look at realtor.com rental area for 92651

    for trends i follow Blue Move
    and i follow
    http://www.newportbeachwaterfronthomes.com/
    they have section for LB as well

    ReplyDelete
  5. AnonymousMarch 29, 2012 at 2:00 PM

    So what do you think of the current market Mr. Blue?

    ReplyDelete