Category Archives: Laguna Beach Real Estate

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Why they called it Forest Ave: (1905)

During the Timber-Culture Act period of 1871, migration to the “Golden West” was encouraged and families who arrived were allowed to stake out a 160-acre homestead claim so long as they planted the “Ten acres of trees” required by Congress on the claim within the first two years.( in Laguna’s case a lotta Australian Eucalyptus) Worthless for timber, it did however fill the check mark in the box and you were deeded the land (some of the earliest ones were even sighed by the President!) The groves planted in the 1880’s helped form the character of Laguna and added much-needed shade, although as lumber they were virtually useless. The groves grew so prodigiously that in the 1910’s, trees had to be cut down by the dozen to carve out space for the growing community. Many of the trees you still see in Laguna today, are descendents of those originally planted trees


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Sean’s 1 Minute Update

Listen to the Spring market update and if you’re considering buying, an analysis of why you should buy now versus a year from now


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What happened to affordable, entry level housing? The simple answer is appreciation

Laguna Summary:

  • Inventory increased to 212, which is the highest for March in the last three year. 11 are below a $1m and 65 are above $4m. However, the number is still historically low
  • The demand (shown by new escrow openings) remained strong
  • Still a strong sellers’ market for compelling homes in good locations.

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Click here to see the graphs and charts for Laguna’s Market as of March 2016

Orange County Summary:

  • Orange County has posted 45 consecutive months of year-over-year price increases, although double-digit price jumps ended nearly two years ago
  • Orange County had an average of 5,455 homes posted in the multiple listing service in late March, the lowest for that period since 2013. Similar trends occurred in January and February.
  • Low inventory has plagued the Orange County housing market since 2012, and it’s getting worse in the lower ranges
  • In March of 2011, homes priced below $500,000 represented half of all listings. Last month, they represented 22 percent of listings and 33 percent of new escrows.

 


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What does it mean to be “priced out of the market”?

In a nutshell, it means that while a few months before, you could afford the type of house you wanted (more or less), but prices have risen so fast that now you feel that you cannot buy anything at all. You feel that it’s no longer worth it to buy – so you continue to rent. And you continue to watch prices rise, both for the home you wish you had bought but also the rents over which you have no control. The gap between what you could have bought (but didn’t) and what you can buy now can mean the difference between feeling able to buy a home and not.  When the gap gets too big, you are “priced out of the market”.

Have you been patiently waiting for just the right house to come on the market?  It may not be forthcoming.  It is very possible that while you watched the market last year, prices were getting primed for a rebound of sorts. It’s now underway and guess what?  What you could afford a year ago is no longer possible today!

This is one time when waiting does not pay off!

Why do buyers wait when they might do better to jump in?

  • they may be unrealistic as to what the market will bear (sometimes despite the statistics)
  • they are cautious to the point of being unable to move forward
  • they are listening to bad advice (at work, from friends etc.)

This is no time to fiddle and watch Rome burn. If you want to buy a house in Orange County and have been sitting on the fence, this may be the time to get off and dive in.

While I’m not a ‘pushy’ agent but an informational one this argument is an important one to pass on.


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