Ever Dreamt of Laguna Beach Homes? - One of the premium real estate markets of western America, Laguna Beach is the most sluggish in the Orange County these days. The continued drop in local inventory has forced significant price reductions in the multi-million dollar Laguna Beach Homes. |
|
Business Related Topics...
Computer Related Topics...
Entertainment, Recreation & Sports Related Topics...
Health & Fitness Related Topics...
Home & Family Related Topics...
Shopping Related Topics...
Would you like to submit articles to our site? Have a question or a problem?
You are here: DIME Home > Real Estate > Ever Dreamt of Laguna Beach Homes?
One of the premium real estate markets of western America, Laguna Beach is the most sluggish in the Orange County these days. The continued drop in local inventory has forced significant price reductions in the multi-million dollar Laguna Beach Homes.
Author: Andy Williams
Date: Sep 25, 2009 - 3:45:05 AM
Laguna Beach, one of the most desired destinations in the world is all set to buzz with activity. Ask Laguna Beach Realtors and you can feel the optimism in their voice. Of course, Laguna Beach Realty is one of the most expensive ones but times are just about to change, at least for those who have only dreamt of investing in
Laguna Beach Homes.
Laguna Beach remains the slowest real estate market in Orange County. According to the biweekly report, the city is now in last place after slowing even further this week. The market time for an average Laguna Beach home is now 10.97 months, up slightly from an already sluggish 10.53 months.
This week, several multimillion dollar homes in the city saw significant price reductions, with some falling by up to $2 million. Thanks to the continued drop in local inventory that has put pressure on the Laguna Beach housing market, particularly in the luxury sector. This premium real estate area couldn’t have been left unaffected and one can expect further drop in the prices there.
Sunset Ridge, North Laguna fell from $6.9 million to $4.9 million, a cut of over $1.9 million which is the biggest drop for the 4 bedroom, 7,200 square foot property, which has been on the market for over seven months.
The story just doesn’t end with North Laguna. Prestigious Emerald Bay Community has not been spared either. 3,000 square feet of living space with 5 bedrooms went from $4.5 million to $3.9 million and that’s a fall of more than $500,000.
Three Arch Bay is another high-end neighborhood which has seen drastic fall in the prices. A home offering 3 bedrooms with 4 bathrooms located near beautiful ocean views has been up for sale for 1,087 days or roughly three years. The home was originally pegged at $3.6 million and is now going for just $2.9 million, a difference of approximately $700,000.
In all, about 40 Laguna Beach homes have witnessed a huge price drop. According to real estate company Altera Real Estate, Laguna Beach homes priced at $1 million and up had to reduce their price by mid-September. Other South Coast cities are seeing similar reductions in the same period as $17 million homes in Dana Point and $11 million in San Clemente had to pull down their prices as well.
According to an Altera broker, there are still lots of buyers in the South Coast, but there are not enough homes that fit their budgets. Experts believe that the figures reflect a need for more affordable inventory and price reductions can pull up the demand in some of the high-end areas including Laguna Beach.
Countrywide demand seems to be on the rise and homes getting twice as much activity and a 100% list to sales price ratio. Starting at $500,000, the market is extremely hot for the homes priced at $750,000 or below.
As more distressed properties are expected to enter the market, the values will stay low and can even go further down in some areas. For more information regarding Laguna Beach Realty, Laguna Beach Homes, Laguna Beach Brokers etc., visit: http://www.lagunaoc.com/
Tampa Bay Real EstateJul 14, 2011 - 6:00:53 PM The Greater Tampa Association of Realtors Market Report shows a total of 1958 properties (single family homes, condos, villas, and townhomes) sold in the month of June, down only 1% from last month. However when compared to June of 2010 this represents a decline of nearly 11%. Properties less than $50,000 continue to take up the bulk of the market as investors come in to buy up these great deals. They accounted for 17.5% of sales or 342 properties. Properties priced between $200,000-$249,999 represented 9% or 173 sales. The lowest segment to move were homes priced between $800,000-$899,999 with three units sold or .15% of market share.... [Read the full story] |
Where To Start When Buying A HouseJul 13, 2011 - 3:44:21 PM On the subject of the acquisition of a brand new home, there can be a whole lot of confusion, especially if this is your very first property. Among the best possible things you are able to do for your self is to make sure that you are getting the absolute best head start. So many individuals wait till they're in the middle of the home purchase before they start to worry about their credit. Your credit score is the very first thing you want to look into before you begin taking a look at potential homes for yourself. This gives you enough time to correct any mistakes that might be found in your credit score report. If you do not find out about such errors... [Read the full story] |
10 Things To Look For In A Real Estate AgentJun 22, 2011 - 9:19:02 AM Whether it's your first time or fifth time, buying a home is a huge life change. Having a great real estate agent is paramount in making the purchase as easy and enjoyable as possible. So what determines a great real estate agent? This list of ten qualities shows some of the characteristics every home buyer should look for.... [Read the full story] |
Toronto Lofts.Jun 6, 2011 - 7:41:21 AM If you have been searching for a good lofts and condos in the downtown area of Toronto, TorontoUrbanReality.com is your guide to it. The lofts listed by us in several sought-after locations in Toronto are a resource for people to check out the places which will suit them.... [Read the full story] |
Search for articles: |
Latest Articles in All Categories |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
Would you like submit your articles and have them approved on a priority status? Find out more about how you can become a Priority author for pennies a day! Click here.
![]() |
Dime-co.com Home |
|
|
|
|
|
|
|
|
|
|
|
|
|
Disclaimer: Dime-Co.Com is an online information article and video article network. All articles, video articles, comments, and other features herein are for informational purposes only and are provided "as is" without warranties, representations or guarantees of any kind. The views and opinions expressed in an article, comments, links or blogs are the author's own, and not necessarily those of dime-co.com's owners. For full disclaimer, please read our TOS.