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.

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.

All have come onto the market in the past 2 weeks and have already dropped in price! These are priced between $875K and $1.1Million.

For all Orange County Real Estate, click through to the website

29672 Novacella, Laguna Niguel

Originally Priced $1,199,000

Reduced to $1,045,000

4 Beds / 3 Baths with a pool

3400 Sq. Ft. on a Cul-de-sac

MLS# S624640

27696 Manor Hill Rd., Laguna Niguel

Short Sale

Originally Priced $ 1,149,000

Reduced to $1,099,000

4 Beds / 4 Baths

3573 Sq. Ft.

MLS# S624005

35 Brownsbury Rd., Laguna Niguel

Originally Priced $ 895,000

Reduced to $ 875,000

Located in Ocean Ranch

4 Beds / 4 Baths

2784 Sq. Ft.  with Main Floor Master with Fireplace

MLS# S623963

14 Saint Paul Ln, Laguna Niguel

Originally Priced $ 949,000

Reduced to $899,000

Owner may carry with 10% and good credit

3 Beds / 4 Baths

2784 Sq. Ft. in Beach Brand Ocean Ranch

MLS# S624397

22825 Channel View, Laguna Niguel Homes for Sale

22825 Channel View, Laguna Niguel 

 Price Range $2,499,000 – $2,899,000

6 Beds / 7 Baths with 6694 Sq. Ft.

29 Coronado Point, Laguna Niguel Homes for Sale

29 Coronado Pointe, Laguna Niguel

Priced at $1,111,000

This is an REO with US Bank

Assessed Value is $1,416,891 from about 2006

4 Beds/4Baths with 3429 Sq. Ft.

21 Le Conte, Laguna Niguel Homes for Sale

21 Le Conte, Laguna Niguel

Priced at $2,699,900

This is a Fixer with great potential and incredible

Ocean and city lights views

6 Beds / 6 Baths with 4820 Sq. Ft.

Currently, there are 22 Homes available in the Emerald Bay community. Since the beginning of the year, there have been 7 completed home sales in this area.

Located just north of Laguna Beach, California, the premier community of Emerald Bay has evolved from what was once a quaint beach destination to being recognized as one of the most sought-after private communities in Orange County.

There are homes in Emerald Bay to fit most every taste. Premier properties can be found in styles such as French Provincial, Country French, Hawaiian Plantation, Tuscan, Mediterranean, Contemporary, English Manor, or Quintessential Laguna Beach Cottage.

Many of these homes for sale in Emerald Bay offer breathtaking views of the ocean, bay, Catalina Island, Sunsets, White Water, Canyon, Hills, Panoramic view. Imagine ending each day in an Emerald Bay home destination with the smell of Pacific Ocean breezes and the inspiring sights of another West Coast sunset.

This inclusive community has 524 single-family residences and is bordered with hillsides to the east, the Pacific Ocean to the west, and naturally defined coastal promontories to the north and south. Residents enjoy a sense of intimacy and privacy in this seaside coastal retreat.

The community amenities enhance life in Emerald Bay. These include: 14 acres of private parks, a private beach, community center, the Al Simmons swimming pool complex, 6 well-maintained hard tennis courts, a tennis pro shop, beach volleyball courts, guard-gated entry and 24-hour security patrol. Community activities can also be enjoyed which include exercise classes, kid’s programs, concerts in the park and adult trips throughout the year.

As always, if I can assist you in any way, please contact me.

Until next time…

Hey There!

This is Hillary Caston from The Coastal Property Experts and I would like to talk with you about Laguna Beach Homes for Sale. There are some wonderful gated communities in North Laguna Beach; however, I would like to talk to you today about Emerald Bay.

There are currently 21 Laguna Beach Homes for Sale in the Emerald Bay community with 1 home currently in escrow. Year to date, there have been 7 homes that have closed escrow as of May 31, 2010. This is an exclusive gated neighborhood, much sought after by buyers interested in North Laguna. For those buyers looking to step into this area, home prices are becoming very attractive.

One specific home came onto the market for $12,300,000 and actually sold for a little less than $8 million. That is a savings of over $5 million dollars!

One Emerald Bay Laguna Beach Homes for Sale that is of interest is located on 80 Emerald Bay. This home has an assessed value of $3,289,500 and is currently for sale at a price of $1,995,000. It is a short sale.

80 Emerald Bay-Laguna Beach Homes for Sale

This could be a future landmark estate, bringing in great value over the next 5-7 years. Plans for this home call for a 5488 square foot home on a corner beach side lot that will boast 5 bedrooms and 4.5 baths. Designed by renowned architect James Conrad, the Santa Barbara-style residence will offer a versatile design with lifestyle amenities throughout.

Thanks for stopping by and please bookmark this page, share it with your friends. I look forward to sharing everything that is great about a Laguna Beach Lifestyle!

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.

You will need to scroll down a bit for the 2nd Real Estate Home Video, but you don’t want to miss this Short Sale that has been reduced almost $3Million!

Here are the Stats for Laguna Niguel:

Laguna Niguel Homes for Sale

Currently, the number of Active Homes for Sale = 297

97 (or 32%) of Active homes for sale are listed as REO or Short Sales

Laguna Niguel Closed Home Sales since 1/1/10

Total Homes closed in Laguna Niguel since 1/1/10 = 289

137 homes (or 47%) of these were REO or Short Sales

Average price of closed REO and Short Sale Homes = $435,612

93 homes (or 67%) of “Distressed” closed sales had a sales price of $500K or less

122 homes (or 89%) of “Distressed” closed sales had a sales price of $750K or less

This information on the closing price of closed “distressed” properties falls in line with the news that many homes in the market in the first quarter were in the price ranges that qualified for government incentives or FHA, Fannie Mae or Freddie Mac financing.

Special Feature Short Sale Property in Monarch Custom – Price Reduced!

This next home is priced well above Government spending limits; however I wanted to highlight it for you since it has received some recent price reductions that may be of interest to someone looking in this area. This is a gorgeous Short Sale property located in the Monarch Point Custom community:

Watch the Video Presentation

Location: 31951 Monarch Crest, Laguna Niguel

Originally Priced at $6,699,000

Now Priced at $3,895,000

MLS# U8005331

This property is FEATURED as a property of interest!

Listed by Surterre Properties, Inc.

LOVED by Hillary Caston and the team at The Coastal Property Experts

http://www.TheCoastalPropertyExperts.com

For more information on this, or any other great properties in Orange County Real Estate, please check out the website or call Hillary direct at 949-922-8490

Location: 31951 Monarch Crest, Laguna Niguel

Originally priced at $6,699,000

Reduced to $3,895,000

This is a Short Sale!

4 Bedrooms / 6 Baths

6613 Sq. Feet of Luxury Living Space on a 10,427 Sq. Ft. Lot for all your entertaining delights.

PRICE REDUCTION! Stunning and luxurious ocean view custom estate in Monarch Point. Perched high above Laguna Beach with panoramic ocean views from Dana Point to Los Angeles. Unique amenities in this amazing home include 6 fireplaces, 3000 bottle wine cellar, 7-car garage, elevator, sparkling pool & spa and outdoor loggia with fireplace.

Until next time…..

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!