Laguna Niguel Real Estate: Some (Very) Common Questions—Answered

• What are the least expensive detached homes going for? 

 Today the least expensive three-bedroom home on the market in Laguna Niguel is a Short Sale, offered at $375,000. The least expensive standard listing is $449,000.

• What is the most expensive listing? 

The most expensive listing is in Bear Brand Ridge Customs, offered at $9.6 million. It is an 11,000-square-foot single-level home on a 3-acre lot. The most expensive sold property this year was in that same neighborhood and it closed at $5,350,000.

• What is a reasonable starting point for making an offer? 

The answer is to ask your Realtor for a “Solds Market Analysis” of that neighborhood, find out if there are other offers, be aware of how many other homes are on the market in that price range, and then factor in location, amenities, views and overall condition. Standard sales and bank owned sales are REAL list prices, while Short Sale list prices are often imaginary, unless the bank has already approved a price.

• How much are views worth? 

This is a very subjective question. Views are always worth money and can range from $5,000 to $50,000 on smaller homes and much more on larger homes. I recently did a study of ocean view properties in Dana Point for a client and the differential for ocean view homes was 25 percent.

• How much are pools worth? 

Again this is subjective.  For some buyers it is a negative and will detract from the price. Why? Because pool maintenance costs money! For others it is worth paying extra for. High-end homes are expected to have one. A pool or flat concrete work that has “shifted” can be devastating to your price because buyers know it is difficult to fix but have no idea of cost.

• As a seller, what repairs and /or remodeling should you do?

When it comes to remodeling, don’t spend a dollar unless it will bring you $2 when you sell! Remodeled kitchens are the most popular feature for buyers. Clean carpet is super important and often worth changing out. New paint is great, too, and cleanliness is critical. Ask someone to look at your home and give it the smell test. Make sure the little annoying items that don’t work get fixed before you list your home. You might also want to have someone check out the furnace and water heater as well. The gas company will give you a safety check for free. Remember, your home is in a “Price War” and a “Beauty Contest” in a buyers’ market.