I wanted to share with you two things about the Laguna Beach Real Estate Market:
1) Information on 8 Home for Sale in Laguna Beach that have had significant price reductions since they were first listed. Many of these are priced under $1 Million which can be considered a fabulous deal for this coastal beach community in Orange County.
2) From our archives of information, we pulled up an article from 2008 discussing what real estate REO and Short Sale investors were looking for at that time…what they considered to be a bargain when buying a home for sale.
Price Reductions: If you would like to see details on any of these Laguna Beach Homes for Sale, click through to the website.
| MLS# | Address | New Price | Price/Sq.Ft. | $ Reduced from Original Price |
| S617864 | 1225 Victory Walk | $ 899,000 | 473.16 | $ 30,000 |
| L30837 | 1035 Catalina | $ 800,000 | N/A | $ 456,000 |
| S479245 | 174 Cliff Dr, #C | $ 875,000 | 1166.67 | $ 325,000 |
| L33046 | 3044 Cresta | $ 899,900 | 359.96 | $ 200,100 |
| S616395 | 490 Thalia | $ 999,000 | 1585.71 | $ 351,000 |
| S608923 | 28802 Alta Laguna | $ 999,000 | 454.70 | $ 201,000 |
| L30836 | 1224 Morningside | $1,295,000 | 431.67 | $ 450,000 |
| L31158 | 1020 La Mirada | $1,650,000 | 690.67 | $ 345,000 |
Discover What Some Real Estate Investors Consider to be a Bargain:
I have often mentioned that we are seeing prices in Laguna Beach that haven’t been seen since 2002 – this is good news for buyers. Add to that, historically low interest rates and you should keep your eyes open for your next home.
I ran across an interesting article that appeared in Investor’s Business Daily in July, 2008. The article was titled “Investors Hunt for Bank-Owned Property Bargains in Packs”. The article explained how investors were pooling their money to buy defaulted loans in bulk directly from the banks rather than trying to negotiate properties just one a time, a process which they felt was too pricey, and too slow.
The interesting thing was what these investors were looking for in regards to price rollbacks. It stated, “Some want only homes with prices cut to 2001 sales values…People who have cash positions now are going to do very well….”
So where are these investors looking? “Some investors say a key to this type of purchase is focusing on spots with strong rental markets. Some buy strictly in the Sun Belt – Texas, Florida, California – citing the region’s long-term desirability”
Location is always important in real estate. You may be able to get a lot of house in a place such as the Inland Empire; however, the better value may be near the coast.
In the past, the entry level cost of a home in this area has pushed people further inland for a home purchase. What was true in the past may not be true today if you are paying attention to the prices.
Keep your eyes open for your opportunity and if our team can be of assistance to you, give us a call.
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