Laguna Niguel listings: 35% distressed homes
By JONATHAN LANSNER, OC REGISTER, 1/31/2012
Home-buying in Laguna Niguel sped up 14% in two weeks — with one-third of the local listings being distressed homes. Here’s what the latest report — as of January 19 — details about Laguna Niguel …
Real estate for sale in Laguna Niguel appears on the upswing!
- 266 residences listed in brokers’ MLS system with 98 new deals opening in the past 30 days.
- This community has a “market time” (months in would take to sell all inventory at current pace of new escrows) of 2.71 months vs. 3.16 months found two weeks earlier vs. 4.01 months seen a year earlier. Countywide, latest market time was 3.20 months vs. 4.75 months a year ago.
- So, homes in this community sell — in theory — in 15% less time than the countywide pace.
- Of the homes listed for sale in this community, 92 were either foreclosures being resold or short sales, where sellers owe more than the home’s value. So distressed properties were 34.6% of supply of homes for sale vs. 37.0% countywide.
- Homes for sale in Laguna Niguel represent 3.3% of Orange County inventory — and 3.1% of all the distressed homes listed for sale in Orange County. New escrows here are 3.9% of all Orange County’s new pending sales.
Compare these trends to countywide patterns:
- Cities with highest level of distressed properties among their listings? Portola Hills was tops — 81.8% — followed by Stanton at 71.0% of listings and Rancho Santa Marg. at 68.6% of listings.
- Fewest? Seal Beach was tops — 3.9% — followed by Corona Del Mar at 5.1% of listings and Laguna Woods at 9.8% of listings.
Let’s hope this trend of increased unit movement continues and please call me if I can be of title assistance.
Kurt Galitski
Meet Kurt Galitski - The Kurt Real Estate Group, your new best friend. Distinctive Strategies that Deliver Record-Setting Results. When you combine Kurt’s passion and knowledge of the real estate market, you really gain an appreciation for what makes Kurt different. But what truly sets him apart from the crowd are his 5 distinctive strategies and his property management… For Kurt, getting into real estate was not an accident, it was a deliberate and calculated decision to deliver a better experience to home buyers, sellers, and landlords that they have ever received before. Today, you could ask any one of hundreds of clients, read his Yelp reviews, or look at his track record of being featured in Orange Coast Magazine in excess of eight consecutive years and you too will say mission accomplished. www.KurtRealEstate.com www.KurtPropertyManagement.com 877-957-6677
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