Laguna Beach Real Estate

Alright, you’re simply luv Laguna Beach. And possibly you’ve got your eye on a couple of choice Laguna Beach homes. Well, I’ve got some choice advice for you. Don’t buy the property. Not yet, anyway. Why? Well, believe it or not, there’s a time to buy, and a time to sit tight in this thrill-a-minute Laguna Beach Real Estate market.           

The best time to buy a home is in the fourth quarter of the year. That is, in that stretch of holiday months covering October thru December.  There’s a very sound reason for this. Sellers are in a much greater hurry to rid themselves of properties this special time of year. Imagine you’re in a nightclub without that catch you were looking for at 1:45 am. You’re a bit more itchy to make things happen, right? Sellers during these months pretty much feel the same forces of nature. That’s because a large percentage of sellers want to close things out before the first of the year. It’s really a psychological thing. Selling in Quarter 4 gives people a comfortable sense of closure. Plus they want to close their books by December 31 to keep things in order for the Tax Man.  The upshot of all this end of year urgency is that prices often drop to bargain levels during this period.

Of course, you don’t need to wait for the last quarter to start looking.

If you’d like to learn more about the many priced-to-sell Laguna Beach homes that are available, I’ll be delighted to help. As somebody who is well-focused on this one-of-a-kind community, I can answer all of your questions and help you discover the numerous opportunities the Laguna Beach Real Estate market has to offer.

Feel free to contact me at 949.922.8490 or hillary@thecoastalpropertyexperts.com.

I’ll see you at the seashore!

Drop everything you’re doing. Whatever it is, you’ve been at it too long. I can see it in your bloodshot eyes. Your frazzled hair.  Your crooked posture. The dozens of half-filled coffee cups.  You’ve got Urbanitis!  Only one cure. Get away. And I’m going to tell you where to go – The beach, baby, the beach! Laguna Beach to be exact. If you’re already lucky enough to live in one of the many amazing Laguna Beach homes, you know what I mean.  

Why this special oceanfront enclave nestled in South Orange County.  Because it has it all. Other places make this claim. But LB backs it up big time. The endless selection of Laguna Beach activities are guaranteed to send your wow meter into the red zone. A few suggestions –

• Hit the Beach – Obviously. LB is made up of eight separate irresistible beaches, each with its own energy and character.  Swimming, surfing, boating, picnicking, scenic strolls, kayaking tours, and diving are some of the ways to splash up the kind of fun you won’t find in the big city. And when you’re ready to exercise your loafing privileges, there are miles of white sandy beaches suitable for sunbathing.
• Get Up Close and Personal With Some Extremely Large Mammals – Whale watching expeditions leave from nearby Dana Point. Bring a camera. But don’t expect autographs.
• Escape to a Park – Four scenic ones to choose from, including Heisler Park Ecological Preserve.
• Get Your Sport On – Golfing, Bike Riding, World Class Health Club, and Hiking are yours for the asking.
• Indulge Your Artistic Side — Enjoy four acclaimed events: Pageant of the Masters, Festival of Arts, Sawdust Festival, and Art-A-Fair.

And , of course, the views. You could spend all year taking in the miles of breathtaking ocean vistas. What more could you want?

For folks lucky enough to live in this Pacific Coast paradise, life is a year-round vacation. Would you like to be one these incredibly lucky people? I can show you why it’s a fantastic time to take advantage of the Laguna Beach Real Estate market.  As somebody who is well-focused on this one-of-a-kind community, I can answer all of your questions and help you discover the numerous opportunities the Laguna Beach Real Estate market has to offer.

Feel free to contact me at 949.922.8490 or hillary@thecoastalpropertyexperts.com.

See you at the seashore!

Every week, Hillary Caston and her team at The Coastal Property Experts look for homes for sale that are of interest. Take a look at the Picks for 7-29-10. To see the full MLS listing information on any of these properties, go to: http://www.thecoastalpropertyexperts.com/Market-Snapshot-Report.php

This week, we highlight 6 homes: 2 Homes for sale in Laguna Beach, 2 Homes for sale in Laguna Niguel, and 2 Homes for sale in Dana Point.

Registered Users of the website get the first look at these properties. To get on the list, be sure to register after clicking on the “Search MLS Listings” button.

33932 Barcelona Pl, Dana Point, CA

33932 Barcelona, Dana Point Homes for Sale

Priced at $1,849,000

$307.81/Sq.Ft.

The layout of this home is a little “unique”; however, the extras on this Dana Point home for sale are incredible: gameroom,

Guest/Maid quarters, Photo Lab/Dark Room/ Wine Cellar

Workshop, Media/Music Room/Game Room, Unfinished

Basement, Exercise Room, Au Pair Suite, Pool&Spa,

4-car garage (which can fit an RV)  and more!

The home is 6007 SqFt and sits on a 9500 SqFt Lot.

32512 Azores Rd, Dana Point, CA

32512 Azores, Dana Point Homes for Sale

Priced at $1,699,000

$536.47/Sq.Ft.

Single Level Custom home in Monarch Bay Terrace.

More than 1/3 acre lot size with a 3167 SqFt Home

715 Marlin, Laguna Beach, CA

715 Marlin, Laguna Beach Homes for Sale

Prices at $2,130,000

$495.35/Sq.Ft.

4300 Sq. Ft. on a 9000 Sq. Ft. Lot

Ocean Views and a Master with Fireplace

232 Chiquita St., Laguna Beach, CA

232 Chiquita, Laguna Beach Homes for Sale

Short Sale Priced at $1,200,000

$571.43/Sq.Ft.

Ocean view remodel with 3 Beds/4 Baths

2100 Sq. Ft. on an R2 lot that has a 1/1 rear unit that currently rents for $1400/mo

31941 E. Nine Drive, Laguna Niguel, CA

31914 E Nine, Laguna Niguel Homes for Sale

Priced at $1,050,000

$ 368.42/Sq.Ft.

Gated community of Links Pointe with views of El Niguel Country Club Golf Course

4Beds/3Baths/2850 Sq. Ft. on a 7560 Sq.Ft.Lot

14 Palisades, Laguna Niguel, CA

14 Palisades, Laguna Niguel Homes for Sale

Priced at $1,195,000

$ 497.92/Sq.Ft.

Ocean views on a single loaded cul-de-sac

4 Beds/3 Baths / 2400 Sq. Ft.

Will Short Sale and REO Laguna Beach Homes for Sale keep pace with National Numbers?

In their first U.S. Foreclosure Sales Report, RealtyTrac reported that 31% of all residential home sales in the first quarter of 2010 were in some phase of the foreclosure process. These include homes for sale in default, where an NOD had been filed by the lender, or those that were already taken back by the bank and labeled “REO” or Real Estate Owned.

In comparison, the percentage of homes sold in the first quarter of 2009 that were in the foreclosure process sat at 37%. More than 1.2 million U.S. properties that sold in 2009 were in some stage of the foreclosure process.

On average, buyers who purchased a home for sale in a foreclosed status paid 27% below the average sale price of properties that were not in a distressed status.

The report noted that “Discounts on REOs are larger than discounts on pre-foreclosures, although discounts on pre-foreclosures appear to be trending higher as short sales become more common.”

There are a couple of points to keep in mind as you look at these numbers:

• The statistics reflect a large area: the entire country or an entire state. They are not broken down by County or City.
• In California, for example, the number of distressed properties in the Inland Empire where there was a large amount of investment owned properties, was higher than in some of the coastal areas such as Laguna Beach.
• In areas where there was a high percentage of vacant, REO homes and those in foreclosure, the banks may have been more motivated to close the sale on the property so that their exposure in the area was lessened.
• It may have been more financially beneficial to use the government TARP money to make deals in these higher-risk areas.
• The number of REOs may decrease in future reports. Lenders have indicated that they are more inclined to work with a short-sale home for sale  situation than to take on all the added costs involved in an REO, such as attorney fees.
• Sellers of non-distressed properties are becoming more educated about their need to price their homes according to where the market is today, not what it was a couple of years ago. Many realize that they are competing with distressed properties for buyer’s money. So, keep your eyes on both “regular” and distressed properties. After all, a good price is a good price, no matter what the situation of the seller!

 Read the full report:

In another, related report, the top 50 cities were listed that had the greatest price reductions…Orange County Homes and Laguna Beach Real Estate were not on that list! On average the top 50 areas included saw average reductions from 7%-26%. The city with the most drastic reductions, which is really no surprise, was Detroit. No ocean view there!

One note to keep in mind as you look at price reductions. There are always 2 reasons for the price reductions. 1) Economically, the market has determined that the home is worth less than what seller has priced it at and 2) The seller decided to initially price the home at a higher rate than what the current market deemed appropriate – this is more a case of seller denial of current market conditions rather than an indication of overall market conditions.

It’s a very slight difference in perception, so just be sure that you don’t simply get caught up in the statistics and numbers. They can be used as a guide, but in the end, what you determine to be the perfect home and the perfect price is up to you.

As always, I invite you to allow me help you with any questions that you have. Those that have worked with me know that I’m a no B.S. straight shooter. If a home that you are interested in is overpriced – I will tell you. Similarly, if a great deal is out there I will enthusiastically share it with you!

Just Contact Me!

Until next time…

We have talked often about getting your financial ducks in order before hitting the pavement to find your Laguna Beach Dream Home for Sale. It’s always nice to look and dream about a life at the beach. But it’s even nicer to make that dream a reality.

I know that it’s hard to look past the forest of economic news that is in front of you and see the opportunities. But the fact remains that we are seeing prices of Laguna Beach Homes for Sale that were last seen in 2002! Plus, the interest rates remain at historically low levels.

Lenders are more cautious with some of their underwriting criteria for various reasons. Don’t let this keep you from doing what you can to position yourself to grab your dream home when the right opportunity and circumstances collide.

One of the entry level thresholds of obtaining a loan has always been your credit score. Understanding what is factored into this score will help you to create habits that will give you the best chance at the highest score available for you. Here are just a few tips:

• Bill payment history accounts for about 35% of your FICO Score. Paying your bills on time each month is important.
• Outstanding debt accounts for about 30% of your FICO Score. This is an interesting mix. The lenders want to see that you have other credit and you know how to use it wisely, but they don’t want you to use too much of it by maxing out your cards. Most experts advise to use less than 30% of the total credit limit. For example, if you have a credit card with a $5000 limit, then keep your balance at or below $1500. Unfortunately, if you have a card that you max out but pay off in full each month, it doesn’t always reflect in your favor on your report, even though paying the balance in full each month is a good practice. If you plan to apply for a loan in the near future, start getting your credit balances down to favorable levels.
• Credit history accounts for about 15% of your FICO Score. So if you are just starting out, you won’t get too many points here. However, it is a small percentage of the total score.
• The remaining 20%…well, that’s still a bit of a mystery!
• Don’t apply for too much credit in a short period of time since it may look as if you are desperate. If you are shopping for a loan, you get a little break since credit pulls from mortgage companies over a period of several days will count as a single credit inquiry.
• If you have been approved for a home loan, don’t make any major purchases, additional credit inquiries, or changes to your credit report. Lenders are pulling credit reports for approved borrowers right before they fund the loan (which could be after you have signed loan documents and think that it’s all over but the singing). Don’t get caught with your household belongings in the moving van and no place to go!

The good news is, wherever you are at right now in terms of your credit score, credit scores are salvageable. With the right information about what will give you the most bang for your buck, and a little determination, you can get your score to a level that the banks will approve.

Take action today with the following steps:

• Get a copy of your credit report. Call your lender and have them pull it for you or get a copy from the credit companies for free.
• Take the time to review the information to make sure that it is accurate.
• Correct any errors by writing to the credit bureaus and notifying them that there is an incorrect item on your report.
• Finally, make a list of steps that you will take to improve your score (i.e.…start paying bills on time, reduce the balances to less than 30% of the limit per company)
• Take action on the steps, little by little, consistently, each week.

Remember…nothing happens until something moves…so, get moving!

See you at the beach!

Until next time…

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.

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.

New Laguna Beach Home for Sale since July 1, 2010

Here are just a few homes new to the Laguna Beach Real Estate market since the beginning of the month. Do any of these spark your interest?  2 Emerald Bay Beauties, a Plantation inspired REO in “The Loop”, and an Ocean Close lot with approved plans for a Gregg Abel cottage reminiscent of “Old Laguna”.

Click here now to see all the details for these homes!

21056 Laguna Canyon Rd, Laguna Beach:

Listed at $969,000

Large, 13,740 Sq. Ft. Lot, with main house and studio apartment

200 Fern St., Laguna Beach:

 Listed at $899,000

Secluded lot with plans in Woods Cove

1316 Cerritos Drive, Laguna Beach:

 Listed at $1,149,000

4 Bedroom Temple Hills Home

3035 Bern Drive, Laguna Beach:

 Listed at $1,329,000

Single Story pool home with views on a 28,350 sq. ft. lot

974 Del Mar Avenue, Laguna Beach

Listed at $1,995,000

Panoramic Views from this 3300 Sq. Ft exquisite home

723 Emerald Bay, Laguna Beach

Listed at $3,995,000

Soft European influences adorn this 4 Bedroom home

73 Emerald Bay Drive, Laguna Beach

Listed at $10,995,000

5 Bedrooms / 7 Baths and prime Main Beach location

Newly constructed in 2008

31302 Monterey Street, Laguna Beach

REO Listed at $1,400,000

Period charm throughout this 2222 Sq. Ft. Home for Sale

Are you sorry that you missed the $8000 Tax Credit? Well, it’s still possible for you to save much more money with  Laguna Beach Homes for Sale.  As reported by Informa Research Services, interest rates have fallen since the contract deadline of April 30^th set for the government’s tax credit.  Money saved by lower mortgage payments over the life of the loan could be substantial.

For example, the average interest rate in the Month of April, prior to the deadline, was 5.34%. A borrower with a 30 year fixed rate on a $280,000 mortgage would pay $1561.82 per month. If that same borrower were to purchase in May with an average interest rate of 4.625%, that payment would be $1439.59 per month. This is an annual savings of $1467 which over 30 years result in savings of over $44,000. That’s quite a bundle!

“In the months immediately following the expiration of the tax credit, we expect measurably lower sales,” said Lawrence Yun, chief economist for the National Association of Realtors.

Borrowers who wanted to take advantage of the credit have now purchased. Some describe these as “borrowed buyers” who would have normally purchased over the course of the summer months, concentrating buying activity into a set amount of time. This concentration resulted in an increase of 30% in home sales for the month of March.

For now, with the interest rates as low as they are, there is still a good incentive to purchase which will soften the landing for the tax credit expiration. And there are Laguna Beach Homes for Sale which could become great values with favorable prices and low interest rates.

However, there is still the question of that “shadow inventory”, the millions of foreclosures that need to be sold but haven’t yet been listed. That number could be as high as 4.5 million homes owned by banks and individuals that are waiting for the right time to enter the market.

When they do, the normal supply and demand factors will come into play to determine price. As prices rise, inventory will increase which could drive the prices down as supply outpaces demand. As the inventory decreases, prices will creep up again until demand is met. This cycle could result in a sawtooth recovery of home prices – moving up and down until inventory is stabilized.

For buyers looking for a bottom in the market, it may be wise to watch for several dips and be ready to take advantage of the right home at the right price. As always, get your financial ducks in a row before you find the home of your dreams. If you are going to use bank financing, get preapproved now. It is always best to be ready so when that home you want enters the market, you will be able to act.

And for Laguna Beach Homes for Sale, you just may be able to find a home priced less than $1 million that could qualify for favorable financing. Imagine, investing and living a Laguna Beach Lifestyle!

Until next time…

I just can’t help it! When I see a great opportunity to purchase Laguna Beach Real Estate I just need to share it.

Below are 2 properties that just came onto the market and are great deals for someone interested in a Laguna Beach Cottage on one of our Artist’s street, or a 4-Plex income production, ocean view rental property.  If you would like more information on these properties, please visit the website at http://www.TheCoastalPropertyExperts.com OR call me directly at 949-922-8490, Hillary Caston.

480 Broadway Street, North Laguna Beach 4-Plex

INVESTORS ATTENTION!

Priced at  $1,350,000

PRIME NORTH LAGUNA INVESTMENT PROPERTY. Excellent, easily rentable, income property with ocean and canyon views. Fantastic location overlooking beautiful downtown Laguna Beach. Short walk to the beach, movies, restaurants and Pageant of the Masters from these 4 one-bedroom apartments. Each unit features hardwood floors, a full kitchen with eating area, living room, bathroom with shower tub, bedroom and sunny view decks. Laundry and storage are available to all tenants as well as one assigned off street parking space. All units are metered seperately for gas and electricity. 

675 Wendt Terrace, Laguna Beach, CA

Priced at $798,000

3 Bedroom / 2 Bath / 752 Sq. Ft on a large lot 6213 Sq Ft

This cottage is located in central Laguna on one of the ‘Artist’s Streets’ within close walking distance to the high school, downtown and the beach. It is a classic 1940 beach cottage with three bedrooms and one and one half baths. Features include some hardwood floors, a wood burning fireplace, an oversize one car garage, driveway parking, ocean and Catalina Island views from an updated kitchen, the living room and the west facing deck. The cottage is nestled among trees gving it a feeling of privacy. Interested parties should measure size of house and lot to satisfy their needs. Accuracy of information in listing is not warranted.

Location: 1818 Temple Hills Drive, Laguna Beach, CA  92651

Currently priced at $4,299,500

4200 Square Feet

4 bedroom / 5 bath

HUGE lot of approximately 21K Square Feet

Are you interested in a viewing appointment or more information? Contact us: 949-922-8490 Hillary Caston

OR visit the website www.TheCoastalPropertyExperts.com

Listed by John McMonigle of Coldwell Banker Previews International;

Loved by Hillary Caston of The Coastal Property Experts

Contact me and I’ll tell you what makes this home so great. Don’t settle – get the home you deserve!

Supported by a canyon and fronted with a southwest Pacific panorama, this Temple Hills home envelops a classic Laguna lifestyle. Encompassing a 21,000-plus sq foot estate-sized lot, the Cape Cod-style residence offers 4,200 sq. feet of living accommodating 3 bedrooms and 5 baths; inlaid wooden flooring, wainscot finishing, crown molding, built-ins and interior doors with custom casework. A chef s kitchen serves marble counters, upgraded appliances, an island and custom cabinetry; an adjoining Butler s pantry flows to banquet-style dining with a marble hearth and silk wall treatments. A second level master retreat delights with extended white water ocean views, private balcony and custom cabinetry; dual master baths present marble vanities and separate dressing/closets with attached office. An English garden with pool and spa offer year-round outdoor living and entertaining; formerly a tennis court, the space – with city approval – retains a hidden 8 foot fence for unrivaled privacy.

This is a beautiful, showpiece home for sale in Orange County. Laguna Beach real estate at its finest!