Friday listings dump

Here's a quick sampling of just a few of the properties to hit the market this week:

26751 Anadale, Laguna Hills 92653
Asking price: $699,000

Beds:	4
Baths:	3
Sq. Ft.:	2,699
$/Sq. Ft.:	$259

Previous sales price: $750,000
Previous sales date: Oct 27, 2003
Listing description snippet: !!!Attention all Buyers and Agents!!! This is the home that you have been waiting for!! 4 bedrooms, 3 full baths, & 3 car garage. Bring your offer. Well priced to sell TODAY. This home won't last long. Hurry before it's sold.

46 Milagro, RSM 92688
Asking price: $399,900

Beds:	3
Baths:	2.5
Sq. Ft.:	1,350
$/Sq. Ft.:	$296

Previous sales price: $560,000
Previous sales date: Feb 08, 2007
Listing description snippet: Great location! This 3 bedroom & 2.5 bath single family residence is close to all the necessities. Close to park, shops, theatre & restaurants. Dramatic cathedral ceilings w/ cozy fireplace. Large open kitchen w/ maple cabinets, breakfast bar & large pantry!

31742 Avenida Villa, San Juan 92675
Asking price: $675,000

Beds:	4
Baths:	2
Sq. Ft.:	2,117
$/Sq. Ft.:	$319

Previous sales price: $960,000
Previous sales date: Jun 29, 2006
Listing description snippet: You have got to see the backyard paradise on this home! Words can not describe the tropical playground that is the yard. Custom pebble-tec pool features 10 man grotto, with many waterfalls, water slide for the kids, huge spa on another level spills into a little river, that runs into the pool.

South OC's 3-year in review

Since the OC Register recently posted DataQuick's sales data for the calendar year 2009, we figured we'd take it a bit further and compare 2009 to 2008 and 2007 - that way, you'll get a better idea of how things have changed since way back when.

The table is below:

The median sales price in every South OC ZIP decreased between 2007 and 2009. The biggest losers in terms of largest decline were:

• San Juan: -57.33%
• Dana Point (92624): -47.26%
• Foothill Ranch: -39.69%
• Lake Forest: -33.64%
• RSM: -31.90%

Dana Point and San Juan also were the largest losses, dollar wise. The smallest percentage declines were:

• Laguna Woods: -19.64%
• Aliso Viejo: -22.94%
• Dana Point (92629): -24.24%
• Laguna Beach: -24.84%
• Trabuco/Coto: -25.57%

When you compare sales volumes of 2007 and 2009, you'll find that in most ZIPs the number of sales increased from 2007-2008, and again between 2008 and 2009. The ZIPs with the largest positive gains in sales volumes between 2007 and 2009 were:

• San Clemente (92672): +378
• Lake Forest: +208
• Laguna Niguel: +110

Some ZIP codes even saw a decline in sales between 2007 and 2009. Here are the worst performers:

• Laguna Woods: -94
• Ladera Ranch: -81
• San Clemente (92673): -66
  

Weekend closed sales report

Which properties have been on the move in South OC? Here are a few examples...

3202 Calle Quieto, San Clemente 92672
Sales price: $670,000
Sales date: 1-26-2010
Previous sales price: $947,500
Previous sales date: 9-12-2006
Size: 4 beds / 2.75 baths / 3,158 sq ft
Listing description snippet: "Stunning & magnificent are the best words i can think of to describe this show-place! Turnkey! The most gorgeous curb appeal greets you, only to be blown away when you enter! All new exterior paint and landscaping, 3 car garage w/ sectional doors w/ windows, gated courtyard entry, and newer front doors! Upon entering, you can't help but be moved by the elegance of the spiral staircase! All new interior designer paint w/ contrasting tall white baseboards, raised panel doors & scraped ceilings w/ knockdown texture are just some of the interior highlights!"

11 Drake, Laguna Niguel 92677
Sales price: $435,000
Sales date: 1-28-2010
Previous sales price: $640,000
Previous sales date: 8-08-2006
Size: 2 beds / 2 baths / 1,237 sq ft
Listing description snippet: "Welcome home to paradise!!! Your immaculate home is located on a quiet cul-de-sac in a highly desirable part of Laguna Niguel that is just minutes from Dana Point & the harbor. Viewing the photos of your amazing home it's easy to see how open, spacious, & airy this floor plan truly is. From the large windows, 3 sets of sliding doors, & vaulted ceilings, it's very clear that light & bright are under-statements for how this home feels."


29626 Oakwood Ct, San Juan 92675
Sales price: $220,000
Sales date: 1-25-2010
Previous sales price: $460,000
Previous sales date: 8-07-2006
Size: 3 beds / 1 baths / 1,071 sq ft Listing description snippet: "Short sale...Approved ! This is a nice patio home. Owner has taken good care of the property. All tile floors. Nice oversized patio with overgrown plants. Direct access garage to kitchen, plus extra parking space. Great location in the village. Come take a look, you won't be dissapointed!"

Weekend closed sales report

Here's a small sample of the many South OC properties that recently changed hands.

59 Kyle Ct, Ladera Ranch 92694
Sales price: $485,000
Sales date: Jan 12, 2010
Previous sales price: $600,000
Previous sales date: Aug 02, 2004
Size: 4 beds, 2.5 baths, 1,855 sq ft
Listing description snippet: "BACK INTO THE MARKET!!3 BEDROOMS WITH LOFT THAT COULD BE CONVERTED TO 4TH BEDROOM, BEUTIFUL WOOD FLOORING ON FIRST LEVEL. REMODEL KITCHEN GRANITE COUNTER TOPS, LOCATED IN GOOD LOCATION LADERA RANCH."

26465 Mirar Vista Drive, Mission Viejo 92692
Sales price: $398,000
Sales date: Jan 05, 2010
Previous sales price: $575,000
Previous sales date: Mar 23, 2006
Size: 3 beds, 3 baths, 1,124 sq ft
Listing description snippet: "This a very nice incredible! 3 bed , 3 bath single level home, stone floors and carpet in bedrooms beautiful backyard formal dining area, spacious living room, cheerful kitchen."

530 Mystic Way, Laguna Beach 92651
Sales price: $1,770,000
Sales date: Dec 30, 2009
Previous sales price: $2,150,000
Previous sales date: Jan 18, 2006
Size: 4 beds, 2.75 baths, 2,335 sq ft
Listing description snippet: "This property is priced to sell. Enjoy panoramic white water, Catalina Island and Main Beach views in this charming Laguna Beach ocean view home. This property features three main floor bedrooms, including master, and lower level has one bedroom and bath for a total of four bedrooms. With expansive views of the Pacific Ocean and the village of Laguna Beach, you will surely enjoy sunset views year round. Hardwood floors."

Friday closed sales report

We got your pulse of the market right here. As usual, to end the work week we're looking at a few properties that closed recently.

367 Plaza Estival, San Clemente 92672
Sales price: $441,000
Sales date: 1-7-2010
Previous sales price: $629,000
Previous sales date: 8-19-2005
Size: 3 beds / 2.25 baths / 1,559 sq ft
Listing description snippet: "TURN-KEY CONDITION, NEW CARPET, PAINT, UPGRADED CABINETS, TRAVERTINE & GRANITE THRU-OUT. PROFESSIONALLY STAGED. SHOWS LIKE A MODEL & SHINES LIKE A GEM."

28271 Las Casas, Mission Viejo 92692
Sales price: $459,500
Sales date: 1-11-2010
Previous sales price: $395,000
Previous sales date: 9-12-2002
Size: 3 beds / 3 baths / 2,032 sq ft
Listing description snippet: Cutomized beauty!!! This home is the best of its kind on the market. It offers three bedrooms , three baths plus a large loft. Two bedrooms and two baths are on the main floor. A bonus room with built in desk and shelves has been added to the upstairs loft increasing the sq ft to 2032.

31291 Paseo Montevideo, San Juan 92675
Sales price: $890,000
Sales date: 1-5-2010
Previous sales price:$765,000 (REO)
Previous sales date: 9/3/2009
Size: 4 beds / 3 baths / 3,080 sq ft
Listing description snippet: Spacious home situation in gated community of San Juan Hills offers panoramic views. Open floor plan offers four bedrooms (1 down), bonus/loft area, four car garage (1 currently is office/work room with built-ins), three full baths. Entertaining rear yard offers built-in bbq area, fireplace and fountain.

Recent sales report

The 500th post was a nice milestone...we're not so sure about No. 666. Well, it had to come at some point, so here we go.

As we've been regularly doing, here's a look at a number of South OC properties that recently sold. This is only the sales prices posted to the MLS; we don't know about any other terms or agreements made between the buyer and seller.

26465 Mirar Vista Drive, Mission Viejo 92692
Sales price: $398,000
Sales date: 1-05-2010
Previous sales price: $575,000
Previous sales date: 3-23-2006
Size: 3 beds / 3 baths / 1,124 sq ft
Listing description snippet: "This a very nice incredible! 3 bed , 3 bath single level home, stone floors and carpet in bedrooms beautiful backyard formal dining area, spacious living room, cheerful kitchen."

25041 La Mangusta, Laguna Niguel 92677
Sales price: $435,000
Sales date: 1-4-2010
Previous sales price: $535,000
Previous sales date: 2-07-2005
Size: 3 beds / 2.75 baths / 1,433 sq ft
Listing description snippet: "View, view, view!!! Not a short sale! This home has it all! 3 bedrooms, 2 master suites upstairs and one bedroom and full bath downstairs. 2 car attached garage with lots of extra built in storage. Large living room, open dining room and kitchen with bar that opens to all the living space! But best of all, the view is spectacular! View of laguna niguel canyon from every room of the house and wonderful canyon and sunset view from the large enclosed yard!"

9 Kingsway Dr, Ladera Ranch 92694
Sales price: $738,000
Sales date: 12-31-2009
Previous sales price: $524,000
Previous sales date: 3-14-2003 Size: 4 beds / 2.5 baths / 2,500 sq ft
Listing description snippet: "Beautiful home in one of the best neighborhoods in ladera ranch! This gorgeous home features 4 bedrooms, 3 bathrooms, hardwood flooring, plantation shutters, and a state of the art kitchen with granite countertops, oversized island, and a large walk-in pantry. Formal living room entrance with a separate formal dining room and plenty of room for entertaining. French doors lead you to the porte-cochere driveway with private gates for additional outdoor living space."

6167 Camino Forestal, San Clemente 92673
Sales price: $557,000
Sales date: 12-31-2009
Previous sales price: $574,000
Previous sales date: 12-31-2003
Size: 3 beds / 2.5 baths / 1,600 sq ft
Listing description snippet: "Great opportunity to live in the desirable 'Ashton' community of Forester Ranch! Cape Cod style home with charming front porch with view of nearby tranquil hills. Downstairs has a separate family room with built in media center, 2 bedrooms, 1 full bath a half bath and laundry room. Upstairs features a great room with wood floors, fireplace and open to kitchen/dining area and access to large view balcony."

6 South OC ZIPs in the "green"

For the 22 business days that ended December 9, the OC Register reports, DataQuick data shows 6 South OC ZIPs that saw median price and sales gains over the previous time last year. Those are:

Dana Point, 92624
Median: $713,750
Yr change: +9.0%
Sales: 9
Change: +125.0%

Ladera Ranch, 92694
Median: $640,000
Yr change: +10.2%
Sales: 51
Change: +21.4%

Laguna Niguel, 92677
Median: $545,000
Yr change: +4.8%
Sales: 102
Change: +88.9%

Mission VIejo, 92691
Median: $470,000
Yr change: +16.5%
Sales: 55
Change: +3.8%

Mission Viejo, 92692
Median: $475,000
Yr change: +0.0%
Sales: 55
Change: +25.0%

San Clemente, 92672
Median: $665,000
Yr change: +18.0%
Sales: 35
Change: +40.0%

What to expect in 2010

If we had all the answers, we probably would have already won the lottery by now. The OC Register real estate blog recently completed its yearly survey of professional real estate opinions, so you can check it out to see what they're thinking. Here are a couple of our thoughts on what we will be watching in the New Year:

• New home building in South OC...not too much new home construction in 2010, but it will be interesting to see how many buyers are out there this year looking to buy new. Talega, Glenwood in Aliso Viejo and San Joaquin Hills in Laguna Niguel are the major developments adding to the new home stock right now. New home builder prices continued their fall in early 2009, but have been flat/ever so slightly up for new phases in later 2009. We will be interested to see what happens once the tax credit expires - will builders slash $8 grand off prices right away, or will they first wait to see if the market supports higher prices before reluctantly reducing them? And what about increased interest rates we're being promised later this year?
  
  
• Median prices ... anybody's guess. These could be up in 2010, flat or slightly down. Either way you look at it, it won't signal a healthy housing market if the economy does not improve and people have jobs. Though we will be watching median prices and how many houses are sold, we will be looking instead to the types of sales (distressed or "regular") and studying the economic picture for OC and Southern California to see what's going on.
  
  
• Foreclosure pipeline will also determine the market in 2010. In 2009, there were lots of foreclosures. Those foreclosures were taken off the market fairly quickly by investors/buyers. We know there will be more foreclosures in 2010, so it will be interesting to see if the market continues to absorb the additional inevitable inventory. We'll also be watching to see if it's easier to complete short sales this year. If it is, this will help properties turn over quicker, though banks will be taking some huge hits.
  
  
• Buying a house? Look at long-term fundamentals and do the math. As we've demonstrated and will be demonstrating again in the new year, certain properties in South OC are starting to make sense financially under certain circumstances. If you're in the market for a house, check the comps, do your homework to understand fair value based on fundamentals, including comparable rental price. Understand that just about anything in your house can be changed except the location (of course, some things can be changed a lot easier and cheaper than others, so factor price into your decision) so do not get caught up with things like paint colors and carpeting. DO NOT get overly caught up with emotions either, make sure you're comfortable with your decision AND plan out worst-case circumstances to ensure you're prepared.

In short ... it's going to be a telling year for housing locally. The "main street" attitude is that the market has bottomed, but significant government intervention makes insightful analysis much more difficult. We find it hard to believe that the RE market is deep into recovery mode given personal incomes are down or at least flat, jobs are harder to come by and the local economy is scarred. One thing we can say for certain is that 2010 is going to be one heck of an interesting year. Here's to hoping the year is a better one than 2009 for everyone.

Holiday sales report

While many of you were on the brink of holiday celebration, there were still those buying and selling homes in South OC. Here's a sampling of a few that recently closed:

29972 Running Deer Lane, Laguna Niguel 92677
Sales price: $615,000
Sales date: 12-23-2009
Previous sales price: $720,000
Previous sales date: 4-29-2004
Change from previous sale (+/-): -$105,000
Size: 4 beds / 3 baths / 2,576 sq ft
Listing description snippet: "This 4 bedroom, 3 bath 2576 sq ft home has a beautiful front courtyard and spacious landscaped backyard. There are cathedral ceilings in the living room, complete with a cozy fireplace and lots of natural light. A large formal dining room is next to the living room and there is an oversized kitchen complete with eating area."
Note: This was a short sale.

26411 Brookfield Rd, San Juan 92675
Sales price: $250,000
Sales date: 12-23-2009
Previous sales price: $475,000
Previous sales date: 4-13-2007
Change from previous sale (+/-): -$225,000
Size: 2 beds / 1 baths / 1,080 sq ft
Listing description snippet: "This home was updated to a 3-bedroom with the conversion of the existing den. Totally upgraded throughout with designer colors, newer flooring, granite countertops in the kitchen, and marble in the bathroom. Spacious outdoor areas to sit and relax in the privacy of your own yard. Family friendly community with lakes, parks, several pools, bike trails and a clubhouse."
Note: This was a short sale that also was in the foreclosure process.

18 Fairhaven Road, Ladera 92694
Sales price: $540,000
Sales date: 12-18-2009
Previous sales price: $506,000
Previous sales date: 8/11/08
Change from previous sale (+/-): +$34,000
Size: 4 beds / 3.5 baths / 2,600 sq ft
Listing description snippet: "Wow fresh paint, new carpet and appliances, some new cabinets and fixtures. This is a turn key property. Granite counters in kitchen. Huge tub and separate shower in master suite & retreat w/ Fireplace. detached bonus room at patio area. No yard work here, very low maintenance yard. Lots of hard scape."

11 Segada, RSM 92688
Sales price: $823,000
Sales date: 12-22-2009
Previous sales price: $1,252,500
Previous sales date: 4-06-2006
Change from previous sale (+/-): -$429,500 Size: 4 beds / 4 baths / 3,240 sq ft
Listing description snippet: "FANTASTIC LOC'N W/ PANORAMIC VIEW. LUSH TROPICAL L/SCAPING-SALT WATER PEBBLE-TEC POOL, SPA WITH WATERFALL, BUILT-IN BBQ ISLAND. INSIDE-BELGIAN CHERRY HDWOOD FLOORS, CUSTOM CROWN MOLDING, LEADED GLASS ENTRY DOORS, GRANITE COUNTERS, CUST CABINETS, SURROUND SOUND, CEILING FANS, CLOSET ORGANIZERS, MORE. HOME IS VACANT AND IS IN NEED OF SIGNIFICANT TLC, BUT CAN EASILY BECOME THE CHARMER IT ONCE WAS."

South OC home stats: Party on?

The OC Register reported some fairly rosy housing data over the weekend. In short, OC median home price was up for the 22 business days ending Nov. 12, the median price bumped up a bit while sales continued to be up year-over-year.

Comparisons to last fall are difficult. Remember what was going on last year? Financial meltdown ring a bell? Still, there is an undeniable feeling that many expect the market has already been on the mend last year. Here are the numbers ... you decide what you think!

Friday closed sales report

Another Friday, another closed sales report. Here's a sampling of some of the properties in South OC that have recently changed hands.

26701 Rio Bravo, Lake Forest 92630
Sales price: $430,000
Sales date: 11-27-2009
Previous sales price: $605,000
Previous sales date: 8-25-2006
Change (+/-): -$175,000
Size: 3 beds / 2 baths / 1,493 sq ft
Listing description snippet: "End of cul-de-sac location in gated community! Open floorplan with vaulted ceiling in living room and family room. Newly remodeled: new paint, new carpet. Light wood cabinets in kitchen; recessed lighting and tile flooring in kitchen and bathrooms; mirror closet doors in master bedroom; private backyard."


38 Silkwood, RSM 92688
Sales price: $420,000
Sales date: 11-24-2009
Previous sales price: $467,000
Previous sales date: 12-22-2003
Change (+/-): -$47,000
Size: 3 beds / 3 baths / 1,400 sq ft
Listing description snippet: "You must see this gorgeous corner lot home! It boasts of a gorgeous kitchen with italian granite counter tops, granite sink, beautiful cabinets, great size back yard, .5 bath down stairs, large master bedroom, custom decorating throughout!"

51 Westgate, Laguna Niguel 92677
Sales price: $820,000
Sales date: 11-28-2009
Previous sales price: $630,000
Previous sales date: 4-29-2002
Change (+/-): +$190,000
Size: 5 beds / 4 baths / 3,046 sq ft
Listing description snippet: Bring your check book!Remodeled and decorated...Ready to move right in!Extraordinary westgate cove at bear brand ranch!Small gated community beach close and perfect for your fussiest buyers!No expense spared!It starts at the curb!Landscaped beautifully, custom iron front doors! A real cooks kitchen with 5 burner gas cooktop,stainless dishwashing drawers,compactor and super awesome oven/microwave convection!

26755 Avenida Las Palmas, Dana Point 92624
Sales price: $580,000
Sales date: 12-2-2009
Previous sales price: $599,000
Previous sales date: 8-08-2003
Change (+/-): -$19,000
Size: 1,777 sq ft
Listing description snippet: "Beach close Duplex in desirable area of Capo Beach, ocean side of freeway. Front unit is 2 bedroom, 2 bath. Back unit is 1 bedroom, 1 bath. Ready to move in, units have been remodeled: kitchens, baths, windows, carpet, tile, paint. Cottage style living, no one above or below. High beam ceilings, private courtyard entry, nice landscaped yard. Each unit has one car garage and one driveway parking. Separate laundry room."

Turkey hangover

Here's to hoping you had a great Thanksgiving. As we do on many Fridays, we're going to review some of the South OC properties that have recently sold.

922 Santa Ana St, Laguna Beach 92651
Sales price: $850,000
Sales date: 11-23-2009
Previous sales price: $1,365,000
Previous sales date: 3-14-2006
Change (+/-): -$615,000
Size: 3 beds / 3 baths / 2,000 sq ft
Listing description snippet: "Sunset catalina island ocean view! Gorgeous and spacious custom remodel! 2000 sq ft with 3 seperate bedrooms with 3 full remodeled baths! Travertine bath with soaking tub in master suite! Gourmet kitchen with island, granite counters, stainless steel appliances, wine refrigerator and more!"

27191 Calle Caballero, SJC 92675
Sales price: $345,000
Sales date: 11-20-2009
Previous sales price: $315,000
Previous sales date: 9-26-2003
Change (+/-): +$30,000
Size: 2 beds / 2 baths / 1,303 sq ft
Listing description snippet: "Wow _ you should see her now! Brand new flooring, new entry, notice the gorgeous front door, this has been so beautifully remodeled and your buyer will be delighted. Major remodel done a few years ago including granite counters, stainless steel appliances, oak cabinets, smooth ceilings and baths with tile and upgraded fixtures. New front door..."

8 La Salle, Ladera Ranch 92694
Sales price: $618,000 Sales date: 11-25-2009
Previous sales price: $503,000
Previous sales date: 5-14-2003
Change (+/-): +$115,000
Size: 4 beds / 3 baths / 2,300 sq ft
Listing description snippet: "Great, Quite Cul De Sac Location, no one behind. Walk to award winning schools, recreation, pools, clubhouse,tennis, walking trails. Mountain views from the back yard and master suite. Terrific floor plan. Large family room open to light and airy kitchen. Large living and dinning room. Pride of ownership shows with the recent remodel of wood floors and granite."

October Home Stats

Here's a look at the latest DataQuick stats for the month of October, published recently by the OC Register.

Friday closed sales report

Hey, if the Real Housewives short sale mansion can make it to escrow, then these properties can make it all the way to closing! Here's our regular look at some of the properties that have closed recently. Remember, sales price does not necessarily include any other deals/incentives the buyer and seller may also have worked out.

41 Hinterland Way, Ladera Ranch 92694
Sales price: $295,000
Sales date: 11-10-2009
Previous sales price: $695,000
Previous sales date: 12-03-2007
Change (+/-): -$400,000
Size: 2 beds / 3 baths / 1,350 sq ft
Listing description snippet: "Gorgeous & upgraded home with 2 car attached garage.This beautiful home offers: large living room w/a cozy fireplace,built-in entertainment center & a ceiling fan.Laminated wood flooring throughout downstairs.Large kitchen with upgraded cabinets & appliances. Plantation shutters throughout downstairs. Large master bedroom with a balcony."

6 Serenity Lane, Laguna Niguel 92677
Sales price: $650,000
Sales date: 11-8-2009
Previous sales price: $759,000
Previous sales date: 12-28-2004
Change: -$109,000
Size: 4 beds / 3 baths / 2,093 sq ft
Listing description snippet: "What a setting!! This lovely home has such a nice setting from the street. Situated on a private large lot with beautiful curb appeal and lots of privacy. No one across the street..Just a lush landscaped greenbelt."

26446 Paseo Carmel, SJC 92675
Sales price: $139,900
Sales date: 11-1-2009
Previous sales price: $340,000
Previous sales date: 6-21-2005
Change: -$200,100
Size: 2 beds / 1 baths / 897 sq ft
Listing description snippet: "Investors dream. Lovely town home style condo with no one above. New kitchen and bath, all new appliances and cabinets, bathroom totally remodeled. All new paint and carpet. Recessed lighting/crown molding in kitchen. Built-ins, walk-in closet, pedestal sink, enclosed covered pati0. Association pool, parks, playground. In the heart of san juan capistrano, easy access to freeway, beaches, parks, mission, amtrak, schools, restaurants, shopping."
Blogger's note: This is a 59% discount off the bubble sales price (this was an REO)

3 Avenida Brio, San Clemente 92673
Sales price: $365,500
Sales date: 10-31-2009
Previous sales price: $319,000
Previous sales date: 9-13-2002
Change: +$46,500
Size: 2 beds / 2 baths / 1,367 sq ft
Listing description snippet: "This is a regular sale!!! Not a short-sale & can easily close without dealing with banks, negotiators or asset managers!!! Wonderful location at the end of the cul de sac overlooking a tree-lined greenbelt! Light & bright open floor plan with warm wood laminate flooring, custom maple cabinetry, custom paint, upstairs separate laundry rooom, 2 full baths, oversized 2 car attached garage with direct access!"

Smoking hot South OC markets

Photo credit: Jordan Larrigan

South OC makes up four of the five "hottest" markets, according to the math of Steve Thomas. That was the headline on the OC Register real estate blog recently. Those mini markets are Foothill Ranch (1.0 months of supply), Aliso Viejo (1.0 months of supply), Lake Forest (1.1 months of supply) and Dove Canyon (1.3 months of supply).

On the other end of the spectrum we have luxury markets where there are fewer buyers, and hence, properties take longer to move. Laguna Beach was second slowest (8.5 months), lagging only CdM. Coto also made that list, ranking fifth "worst" with a market time of 7.4 months.

The more we think about the real estate market recently, the more it makes us scratch our heads. You probably heard that the movement for extending the homebuying tax credit is moving forward. And, maybe you also read about how the Fed is still keeping interest rates near zilch to help prop up the economy. With the government and other agencies working so hard to prop up housing, will true fundamentals ever return?

Friday closed sales report

We're back once again on this Halloween Eve with a sampling of just a few of the many South OC properties to recently change hands.

31952 Pleasant Glen Rd, Trabuco Canyon 92679
Sales price: $535,000
Sales date: 10-21-2009
Previous sales price: $442,000
Previous sales date: 6-10-2003
Profit/loss: +$93,000
Size: 3 beds / 3 baths / 1,700 sq ft
Listing description snippet: "Live the best of the orange county lifestyle in this beautiful home located in the wonderful community of robinson ranch. The highly upgraded 3 bedroom and 2 1/2 baths floorplan features a gourmet kitchen with granite, family room with an upgraded fireplace, soaring ceilings and many others upgrades that make this home truly turn-key."

123 Sklar St, Ladera Ranch 92694
Sales price: $376,500
Sales date: 10-26-2009
Previous sales price: $535,000
Previous sales date: 12-07-2005
Profit/loss: -$158,500
Size: 3 beds / 3 baths / 1,602 sq ft
Listing description snippet: N/A

7 Matinee Ct, Aliso Viejo 92656
Sales price: $359,900
Sales date: 10-22-2009
Previous sales price: $379,000
Previous sales date: 11-20-2003
Profit/loss: +$19,100
Size: 2 beds / 3 baths / 1,327 sq ft
Listing description snippet: N/A

25022 Wilkes Pl, Laguna Hills 92653
Sales price: $575,000
Sales date: 10-26-2009
Size: 4 beds / 3 baths / 2,442 sq ft
Listing description snippet: Remodeled view home on single loaded cul-de-sac. Kitchen w/granite counters and center island complete with stainless appliances. Master bedroom features retreat with fireplace. Large bedrooms and updated bathrooms.

Recent closed sales report

Here's our latest look at some South OC properties that have recently changed hands.

81 Gaugin Circle, 92656
Sales price: $408,000
Sales date: 10-9-2009
Previous sales price: $375,000
Previous sales date: 11-20-2002
Size: 4 beds / 3 baths / 1,719 sq ft
Listing description snippet: Located in gated a community with pool and spa. This condo features two master bedrooms. First master has vaulted celings, jacuzzi tub, double sinks and a large walk in closet. Second master has a balcony with beautiful canyon and city lights view.

25022 Buckboard, Laguna Hills 9653
Sales price: $769,000
Sales date: 10-09-2009
Previous sales price: $1,100,000 (bank?)
Previous sales date: 10/09/2008
Size: 5 beds / 3 baths / 3,000 sq ft
Listing description snippet: This 5 bedrdoom fixer is ready for your ideas. Added living space and pool + horse property make this a must see. You won't find a better price in nellie gail. This home needs paint, flooring, kitchen rehab and misc repairs through out.

28001 Loretha Ln, Laguna Niguel 92677
Sales price: $820,000
Sales date: 10-5-2009
Previous sales price: $1,195,000
Previous sales date: 8-30-2005
Size: 6 beds / 3 baths / 3,300 sq ft
Listing description snippet: Elegant view home located on a cul-de-sac with many upgrades and 6 bedrooms. The home has granite counters, hardwood floors, crown molding, premium wood shutters and a spiral staircase. This is the largest plan in crestview. In a quiet area close to shopping, toll roads, community park, pool & spa. There is no mello-roos tax and low tax rate.

880 Coast View Drive, Laguna Beach 92651
Sales price: $1,950,000
Sales date: 9-28-2009
Previous sales price: $2,200,000
Previous sales date: 4-28-2004
Size: 3 beds / 4 baths / 2,537 sq ft
Listing description snippet: One million dollar price reductiion from original pricing!! One of a kind remodeled, contemporary house located just above laguna village. New york loft style living at its finest. Dramatic high ceiling, open living room with great large walls for art & floor to ceiling glass windows looking out to spectacular views of the ocean & the village below.

South OC home stats, September

We realized the last time we updated DataQuick's monthly stats was July, so here we go with September, courtesy of the OC Register:



As you can see, as an area, South OC prices are down slightly compared to last year, while the amount of sales is up slightly more than the county as a whole.

Redfin: Head south for home discounts

Redfin recently posted the above chart on its Orange County Sweet Digs blog as part of a roundup of where the biggest price discounts were for the month of August.

As you can see, South County is very well represented, as 7 of our areas were well above the county median of 4.6 percent. And, five of the top 7 areas in the county, as well as 7 of the top 10 most discounted areas were South County cities.

What does this tell us? It means there might be some denial working in our area, so sellers are listing higher than they can get and are later forced to reduce the price. You also need to think about some of the areas on this list - Laguna Beach, San Clemente, Coto, Dana Point - all are areas with a lot of expensive houses. It's probably also an indicator that the housing pain experienced inland has brought those prices just about as low as they are going to fall, and now it's the high-end pricing that is coming down.

"Hottest" and "Coolest" in South OC

Photo courtesy OC Archives

The OC Register recently quoted another Steve Thomas report. Among the highlights...

Three South OC areas were in the top four "hottest" markets - meaning, the highest rate of home sales in the past month when compared to current homes on the market. The three areas were Portola Hills (1 month supply of houses for sale); Lake Forest (1 month supply) and RSM (1.2 months). Is there any surprise here? Not really. There are lots of cheaper homes in each of these areas.

The "coolest" markets - meaning fewest completed sales compared to the number of properties for sale? Laguna Beach and Coto made that list. Yet more evidence that higher-end properties may be next on the list for impending price declines. The big question to us is whether prices have mostly stabilized in some of the harder-hit, lower-priced areas. It's very possible, and now we could be in for that long period of stagnant prices.