You clung to your Laguna Beach home like glue. No way were you leaving the place you so dearly cherished. But the stack of delinquent mortgage payments got too heavy. Pushed you straight through a trap door. Now you’re in the pit. The mortgage pit. Debt collectors are hissing like snakes. Foreclosure fiends are clawing at you. How will you get out of this trap?

Luckily, there’s an escape route. It’s called short sale – a program that lets you sell your home for less than the total amount owed. Protects you from the hissing debt collectors and foreclosure fiends. Frees you from the pit. Get ready!

Launching Your Escape

Remember, a short sale isn’t a magic amulet. Plan on digging in your heels and expending much personal energy. You’ll begin with three documents, all of which should be signed and dated.

• A financial worksheet listing all of your monthly expenses. The more, the merrier.
• A hardship letter explaining why you got behind. You’re making your case here, so let the details flow.
• A letter authorizing your Realtor to access certain account information. The letter should include the last 4 digits of the borrower’s social security number, the complete account number, and property address.

What Else You Should Know

• The clock is ticking, so dawdle at your own risk. If the short sale doesn’t close within 30 days, chances are you’ll need to start the approval process over. Now wouldn’t that be a hoot.
• Send all inquiries, (and if necessary, bribes), to the assigned negotiator. The identity of this individual will be revealed during the introduction call.
• A short sale is never an inside job. This means, the property may not be purchased by anyone with close ties to the seller. This includes but is not limited to family members, friends, neighbors, personal trainers, and bookies.
• In certain cases, investors and mortgage insurance companies require lenders to sign an unsecured note for part or all of the difference between sale proceeds and the total amount due. This information is specified as part of any response to a short sale offer.

Well there it is. You see? There is an escape from the mortgage pit. And if you’re considering a short sale for your Laguna Beach home, I want to make sure you’re good and prepared for the journey.  I’ll make certain you get started on the right track. And stay on the right track. As an experienced professional well-acquainted with this prime beachfront 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.

Until next time, keep it classy, Laguna.

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 ciy. 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 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.

You can 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.

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.

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

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.

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1580 Sunset Ridge, Laguna Beach, CA

Priced at $4,495,000

4 Bedrooms / 4 Baths

4530 Square Feet with inspiring views of the Pacific Ocean

MLS# L32150

Listed by Gary Boisen and Michael Gosselin of Surterre Properties

Taking full advantage of the awe inspiring views of the Pacific Ocean, Catalina Island and the north coast, this stunning contemporary home will impress the most discriminating buyer. The versatile open floor plan has approx. 5,218 of space including 4,530 sq ft. of living space with three bedrooms and three and one-half baths, gourmet kitchen, media room, family room, home office and a complete guest residence that could can function as two additional bedrooms, and includes a kitchen. Quality features include mahogany flooring and cabinetry, stainless steel interior and exterior railings, Fleetwood windows and disappearing doors, personal elevator, 3-car garage, and the extensive use of natural stone inside and outside. Expansive view decks and a private outdoor living room featuring a wood burning fireplace and built-in BBQ provide for the finest indoor/outdoor living experiences. 

Want more Information?….Contact Us!

31889 Circle Drive, Laguna Beach, CA

Originally priced at $9,850,000: Newly listed and Reduced!

Now Priced at $6,475,000

3 Bedrooms / 5 Baths

2500 Square Feet

MLS# L30507

Listed by Elizabeth Comerford of Hom Real Estate Group

South Laguna meets the Hamptons in this incredible oceanfront renovation. Situated on a private street, this elegant cottage style offers all the comfort and serenity you could hope for along with all the benefits you would expect from an oceanfront location. The extremely versatile floor plan works well for any lifestyle and is particularly well suited to entertaining. The expansive great room with living and dining areas and gourmet kitchen complete this dream home. All secondary rooms are en suite, including a sumptuous master suite, office, guest bedroom and family/media room that could also serve as an additional master suite with closet, wet bar and relaxing oceanfront deck. The finest materials have been used throughout, including distressed walnut flooring, honed limestone countertops and breathtaking Fleetwood sliding pocket doors in living room. SELLER IS VERY MOTIVATED … AMAZING PRICE REDUCTION FOR AN OCEANFRONT WITH THIS QUALITY AND CRAFTSMANSHIP.  

Want more Information?…Contact Us!

23 Lagunita Drive, Laguna Beach

Priced at $10,900,000

5 Bedrooms / 5 Bath

4100 Square Feet with Ocean View in the community of Lagunita

MLS# L29329

Listed by John Stanaland of First Team Estates

Romantic Oceanfront Spanish Hacienda in the prestigious gated community of Lagunita. The estate boasts five large bedrooms, five and a half baths with ornate Spanish tile and tons of authentic detailing. Perfect for entertaining, the large family room with wet bar steps out to an incredible sun drenched patio with BBQ and spa. This phenomenal property leads directly out to beautiful lush landscape with large wispy palm trees to the gorgeous sandy beach of Lagunita , and just steps to famed Victoria Beach. Panoramic ocean, rugged coastline, and mesmerizing Catalina sunset views. Truly a work of art!

Want more Information?…Contact Us!

It was recently reported that actress Halle Berry listed her Beverly Hills home for $5 million. There is no story of woe in this selling…just possibly an example of a smart business decision.

Note that Berry purchased the home in 2001 for $2,275,000 and is now selling it – just 8 years later for $5,000,000…more than doubling her money….in this economy!

True, we don’t know what this home will finally sell for. However, take note that she is following a time tested wealth building plan. Purchase low, sell high. Following the “rule of 72” – this transaction puts her rate of return in the 9% range, doubling her investment in roughly 8 years.

Not bad.

So, what could you buy in Laguna Beach today for less than $ 2.5Million?

The answer is – lots! To see all Laguna Beach Home listings – Click Here.

Currently, there are approximately 128 properties listed in Laguna Beach priced between $1million and $2.5 million.

Could one of these homes be your opportunity to double your financial investment while you enjoy a lifestyle investment in Laguna Beach?

Members of our team attended the National Association of Realtors Conference in San Diego this weekend. One of the keynote speakers was Condoleezza Rice, former United States Secretary of State. Her speech was an inspiring reminder of what makes our nation so special. She said we, as a nation, are special in that we share an optimism that things once believed to be impossible, turn into things that become inevitable.

As an example, if you would have suggested in the 1940’s that the Berlin Wall would someday come down you would have been ridiculed. If you had suggested that the flag bearing the half moon and sickle would one day be lowered forever, people would have had you committed. If you would have suggested that a man or woman of color would hold high positions of power in the United States, some would have said “never”. But look at how far we as a nation and as a world have progressed.

The impossible became the inevitable.

So what does this have to do with the properties in Laguna Beach, or the real estate market? Well, maybe nothing. But, just maybe it offers an opportunity to view the current economic climate with optimism. A chance to remember that beyond every seemingly dark cloud lies a rim of light, hope…and opportunity.

Will this market and Laguna Beach real estate recover? With as much resilience as we have as a nation and a world, the answer is yes. This is another cycle in a cyclical industry. There is an adjustment occurring in the world economic landscape. The real question seems to be whether you will allow yourself the freedom of optimism and hope. Will you allow yourself to take advantage of the inevitable opportunities when others believe that everything is impossible?

Take a look back at some prices in the Laguna Beach Real Estate Market. At any given stage, there were surely people that believed that it was “impossible” for prices to go higher; then it was “impossible” that prices would go lower…but in each instance, the impossible became the inevitable. 

There really is no blanket right or wrong answer as to whether you should buy a house right now or wait. Each person is at a different stage in their personal financial cycles. However, many of you are in a position to take advantage of favorable home prices in areas that you only once dreamed of living in such as Laguna Beach real estate and the coastal areas of Orange County. However, the news coming from mainstream media may convince you to second guess your instincts. What if you’re wrong and the market goes down another ten percent?

Well, as someone once said, it’s better to be a year too early than a year too late.

I encourage you to evaluate information from all sides when considering properties in Laguna Beach. Personally, I know that our clients are smart. They have the ability to evaluate risk and reward based on their own portfolio and goals. I am always happy to have a conversation with you about how a purchase in South Orange County and Laguna Beach real estate can fit into your overall goals; however, as your consultant I am also not afraid to advise you if you should wait. As I’ve said, each person’s personal financial picture is different so there is no simple right or wrong answer.

As always, feel free to contact me. You can open your own Listing Book account to the right and search the Multiple Listing Service (MLS) for properties or visit our website for more information: http://www.TheCoastalPropertyExperts.com

Until next time….