Newport Beach Market 1Q 2012

The Newport Real Estate Market continues to see limited sales as of the first quarter of 2012.  Looking at the overall Newport Beach Real Estate, which includes the communities of Newport Beach, Corona del Mar and Newport Coast, there were 241 Newport Beach Homes sold over the past 90 days.  This equates to slightly above 80 sales per month over a time period of November, December and January which has always been a slow time in the local real estate market. 

The 241 sales from the past 90 days compared to 253 sales for the same period 1 year ago.  The average sales price for those 241 sales was $1,615,678, this compares to an average of $1,664,130, down 2.9%.  While the average price is a good comparison it can be impacted by a few large sales when there is such a limited sample size.  A better indicator is the price per square foot, which for the most recent 3 months was $535.85 per sq ft vs $601.37 from the prior year's period, this is a decline of 11% year over year.

The real estate data provider, Dataquick breaks out the data for each of the communities of Newport Beach, Corona del Mar and Newport Beach.  They also only report one months data at a time, data for the most recent month available, December indicates that there 61 sales of Newport Beach Homes, 17 sales of Corona del Mar Homes and 17 sales of Newport Coast Homes.   Their numbers also suggest that the median price, there preferred measurement, for each community was down 11.83% for Newport Beach Homes, up 8.82% for Corona del Mar Homes and up 29.68% from the prior year. 

As you can see, the Data for Dataquick and more importantly the median price measurement can have large swings.  These three communities did not in reality have these different large swings in values.  It was however due to the impact of a few sales at the higher end of price range.  Newport Beach is known for its high value real estate and the higher prices which this real estate demands.  Having an impact of the Corona del Mar Homes sales data was a $14,850,000 sale within the Shore Cliffs neighborhood.   While the Newport Coast homes included the sale Villa Serbelloni, an ocean view estate home within the gates of Pelican Crest.  

short sales still dominate Orange County real estate market

As we head into the selling season within the Orange County Real Estate market, the market is still dominated by short sales.  In an article using data provided by Steven Thomas and posted on Jon Lanser's blog in the Orange County Register, Jon highlights the amount of short sales in the current Orange County market.  According to the data provided, of the 8,080 current active listings in Orange County, 2,990 or 37% of them are short sales.  The more interesting data point was that of the 2,528 Orange County homes which went into escrow in the past 30 days, 1,504 or 59% of the total were short sales. 

Looking at some of the city data provided, Rancho Santa Margarita Homes had one of the highest percentages of distressed sales, as 94 or 68.6% of the total of 137 sales in the last 30 days were short sales.  While RSM had one of the highest percentage of short sales, Seal Beach offered one of the lowest percentages.  Only nine of the Seal Beach Homes which were sold over the past 30 days were short sales, that is out of a total of 230 for a very low 3.9%.  With the high number of current listings in Orange County being Short sales, it is apparent that short sales will continue to dominate our Orange County Real Estate for some time moving forward. 

 

Huntington beach market update feb 2012

Huntington Beach Real Estate Update for February 2012.  The local Huntington Beach real estate market remains soft with a high level of distressed properties including REO's and short sales.  For the 90 days ended January 31, 2012 the local MLS indicates there were 362 Huntington Beach Homes sold, for an average of 121 per month.   There are currently 475 active Huntington Beach Homes listed in the MLS, which equates to slightly less than four months of inventory.  This however does not take into effect the shadow inventory, those homes which are either bank owned or soon to be bank owned but have yet to hit the market. 

According to Dataquick, the median price for Huntington Beach homes declined 7.89% from the previous year.  This is for the month December 2011 compared to December 2010 which is the most recent data available from Dataquick.  Demand for Huntington Beach Real Estate remains strong, especially among first time home buyers looking to take advantage of the current low interest rates.  According to FreddieMac the average 30 year fixed interest rate is currently at 3.98% which is a close to a historical low.  The biggest drag on Huntington Beach homes sales is the long extracted process it takes to close on Huntington Beach short sales.  Currently the average time to close a Huntington Beach short sale is 5.5 months with some taking in excess of 18 months. 

Orange County Foreclosures for August 31, 2010

Every day at Orange County Court House,  homes are auctioned off to the highest bidders, which is typically the foreclosing bank.  Listed below are the latest Orange County Foreclosures for today.  Check back often to get the latest information on Orange County Foreclosures or you can use our Foreclosure Search 

24425 Kingston Court #121, Laguna Hills

22144 Pheasant St, Lake Forest

2473 W Crescent Ave, Anaheim

1832 E Almond Dr, Anaheim

1418 S FLower St, Santa Ana

 

There were 24 scheduled sales, which resulted in the above 5 sales, 19 were postponed or cancelled. 

For information on these or any properties please call us at 949-355-3000.

Orange County Foreclosures for August 30, 2010

Every day at Orange County Court House,  homes are auctioned off to the highest bidders, which is typically the foreclosing bank.  Listed below are the latest Orange County Foreclosures for today.  Check back often to get the latest information on Orange County Foreclosures or you can use our Foreclosure Search 

26531 Merienda #2, Laguna Hills

119 Cape Victoria, Aliso Viejo

1288 Pine Edge Dr, La Habra

11908 Falling Leaf Cir, Garden Grove

868 Santa Ana St, Laguna Beach

1810 W Glen Ave, Anaheim

221 W ALton Ave #F, Santa Ana

226 Aqueduct Dr, Placentia

12241 Lampson Ave, Garden Grove

1293 McFadden Dr, Fullerton

25281 Aldea Court, Mission Viejo

1091 N Lincoln St, Orange

212 S Kraemer Blvd #903, Placentia

24055 Paseo Del Lago #106, Laguna Woods

4004 W 5th St, Santa Ana

28231 Silverado Canyon, Silverado

24316 Carlton Court, Laguna Niguel

5805 Laguna Way #56, Cypress

217 E El Portal, San Clemente

2030 South Pacific Ave, Santa Ana

18872 Mesa Dr, Villa Park

11665 S Buckthorn LN, Orange

12 Vista Del Cerro, Aliso Viejo

31401 Mar Vista Ave, Laguna Beach

30085 Comercio, Rancho Santa Margarita

 

 

There were 64 scheduled sales, which resulted in the above 25 sales, 39 were postponed or cancelled. 

For information on these or any properties please call us at 949-355-3000.

Orange County Foreclosures for August 27, 2010

Every day at Orange County Court House,  homes are auctioned off to the highest bidders, which is typically the foreclosing bank.  Listed below are the latest Orange County Foreclosures for today.  Check back often to get the latest information on Orange County Foreclosures or you can use our Foreclosure Search 

26 Saint Moritz St, Aliso Viejo

2087 N Mori LN, Orange

10049 Hidden Village Rd, Garden Grove

2051 Terraza Pl, Fullerton

140 W Mountain View Ave #A, B, C, LaHabra

8 Azalea #106, Rancho Santa Margarita

26121 Las FLores, Mission VIejo

6933 Orangewood Ave, Cypress

12691 Aspenwood Ln, Garden Grove

3016 Jeffrey Rd, Costa Mesa

10 Gentle Breeze, Mewport Beach

27324 las Nieves, Mission Viejo

4580 Larwin Ave, Cypress

13 CAstano, Rancho Santa Margarita

7571 College Dr, Stanton

26121 La Real #C, Mission Viejo

213 Callery Way, Tustin

19431 Rue de Valore #31H, Foothill Ranch

 

There were 44 scheduled sales, which resulted in the above 19 sales, 25 were postponed or cancelled. 

For information on these or any properties please call us at 949-355-3000.

Orange County foreclosures for August 26, 2010

Every day at Orange County Court House,  homes are auctioned off to the highest bidders, which is typically the foreclosing bank.  Listed below are the latest Orange County Foreclosures for today.  Check back often to get the latest information on Orange County Foreclosures or you can use our Foreclosure Search 

3931 Madonna Dr, Fullerton

3602 S Ramona Dr, Santa Ana

230 SandCastle, Aliso VIejo

10355 Westminster AVe, Garden Grove

746 N Lemon St, Anaheim

667 W 6th #D, Tustin

15517 Sonora St, Tustin

3640 S Main St, Santa Ana

50 Corniche Dr, Dana Point

87 Frances CIr, Buena Park

1378 Morningside Dr, Laguna Beach

1201 N California #40, Orange

17200 Newhope St #217, Fountain Valley

600 Calle Tibidabo, San Clemente

522 Sunrise St, Placentia

337 E Chapman AVe #B, Placentia

23461 Caminto Salado #A, Laguna Hills

2613 Amhearst Ave, Fullerton

129 Kellogg Ave, Fullerton

2900 Madison AVe #B21, Fullerton

1801 E Katella AVe, Anaheim

20 Pearl #208, Laguna Niguel

16687 Arbor CIr, Huntington Beach

21 Quartz Ln, Ladera Ranch

601 N Bedford St #601, La Habra

2325 Val Verde Court #164, Laguna Hills

336 Valencia Dr, Fullerton

6127 E Paseo Rio Azul, Anaheim

239 E Taft Ave, Orange

18 Promontory Park, ALiso Viejo

30924 Avenida De La Vista #54B, San Juan Capistrano

1425 Sycamore Ave, Tustin

 

 

There were 72 scheduled sales, which resulted in the above 32 sales, 40 were postponed or cancelled. 

For information on these or any properties please call us at 949-355-3000.

Orange County Foreclosures for August 25, 2010

Every day at Orange County Court House,  homes are auctioned off to the highest bidders, which is typically the foreclosing bank.  Listed below are the latest Orange County Foreclosures for today.  Check back often to get the latest information on Orange County Foreclosures or you can use our Foreclosure Search 

 

25761 Le Parc #52, Foothill Ranch

1306 N Parsons Pl, Santa Ana

7130 Marshall Way, Stanton

640 W FLower Ave, LaHabra

1336 E Balsam Ave, Anaheim

2306 W Elder Ave, Santa Ana

1150 W Washington Ave, Santa Ana

11074 Lambert Way, Stanton

7511 El Cerro Dr, Buena Park

24655 Sutton Ln, Laguna Niguel

11282 Parkside Ln #28, Garden Grove

18900 Delaware St #38, Huntington Beach

987 S Sutter Creek Rd #38, Anaheim

123 Briarwood Ln #106, Aliso Viejo

1000 W MacArthur Blvd #7, Santa Ana

11454 Pine Tree Ln, Stanton

123 Abbeywood Ln, Aliso Viejo

12983 Santor Court, Garden Grove

4900 E Chapman Ave #36, Orange

2062-2070 Business Center Dr, Irvine

617 E Brookwood St, Brea

5656 E Vista Del Cerro, Anaheim

503 N Century Dr, Anaheim

18162 Buena Vista Ave, Yorba Linda

18916 E Berry Tree Ln, Orange

 

There were 52 scheduled sales, which resulted in the above 25 sales,  were postponed or cancelled. 

For information on these or any properties please call us at 949-355-3000.

Orange County Foreclosures for August 24, 2010

Every day at Orange County Court House,  homes are auctioned off to the highest bidders, which is typically the foreclosing bank.  Listed below are the latest Orange County Foreclosures for today.  Check back often to get the latest information on Orange County Foreclosures or you can use our Foreclosure Search 

874 Redondo Dr East, Anaheim

26811 Via Grande, Mission Viejo

717 S Priscilla St, Anaheim

2517 S poplar St, Santa Ana

26701 Quail HIll #251, Laguna Hills

4430 E Silverleaf Ave, Orange

28 Winfield Dr, Ladera ranch

3342 Broadway #46, Los Alamitos

1485 W Houston Ave, Fullerton

33625 Port Marine Dr #62, Dana Point

10781 Endry St, Anaheim

 

There were 31 scheduled sales, which resulted in the above 11 sales, 20 were postponed or cancelled. 

For information on these or any properties please call us at 949-355-3000.

Orange County Foreclosures for August 23, 2010

Every day at Orange County Court House,  homes are auctioned off to the highest bidders, which is typically the foreclosing bank.  Listed below are the latest Orange County Foreclosures for today.  Check back often to get the latest information on Orange County Foreclosures or you can use our Foreclosure Search 

1665 Chateau Pl, Anaheim

1344 S Amberwick Ln, Anaheim

842 N Harbor Blvd, Anaheim

2230 Studio Dr, Brea

33332 Sea Bright Dr, Dana Point

19431 Rue de Valore #54F, Foothill Ranch

10701 McKeen St, Garden Grove

6581 Radcliff Cir, Huntington Beach

2150 Hillview Dr, Laguna Beach

794 Islamare Ln, Lake Forest

26102 Hillsford Pl, Lake Forest

20702 El Toro Rd #49, Lake Forest

23691 Brasilia St, Mission Viejo

25372 Juniper Dr, Missioin Viejo

27362 Ventosa, Mission Viejo

328 N Clinton St, Orange

2513 S Rita Wat, Santa Ana

3941 W Mcfadden Ave #C, Santa Ana

624 S Sullivan St #3D, Santa Ana

1130 -1132 S Broadway, Santa Ana

1302 S Maple St, Santa Ana

1040 W MacArthur Blvd #31, Santa Ana

7601 Lehigh Pl, Westminster

5279 Tedford Way, Yorba Linda

20250 Pingree Way, Yorba Linda 

There were 67 scheduled sales, which resulted in the above 25 sales, 42 were postponed or cancelled. 

For information on these or any properties please call us at 949-355-3000.