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Health & Fitness

No Holiday Break For Laguna Niguel Home Buyers

Laguna Niguel homes buyers were very active in December.

Yes, Laguna Niguel home buyers have been as active as ever in the month of December.

While the average family was celebrating, partying and visiting family,
home buyers have managed to close escrow on 84 homes. Considering
that there are only 90 homes for sale as of 12/29, this is quite a
feat.

Home buyers are still wanting to take advantage of the low interest rates
and get a property before the prices rebound even more. However, it
is still true that 33% of all home sales in Orange county are ALL
CASH. These folks could be investors, retirees, or first time buyers
that are being financed by parents. I got a call today from a
frustrated Realtor who said that she has made 15 offers on properties
for her 20% down home buyer and has not been able to secure a
property due to multiple offers and cash buyers. Right before
Christmas I put a small detached home on the market for $475,000 and
in three days got two written cash offers and another verbal.

Find out what's happening in Laguna Niguel-Dana Pointwith free, real-time updates from Patch.

Attached properties:

There are currently 24 active properties and only 3 of these are distressed
sales. There are a total of 84 properties in backup or pending status
and 34 have closed so far this month. No wonder it is so difficult to
get into escrow on a condo. Considering that some of the properties
are over priced, there is only about a two weeks supply.

Find out what's happening in Laguna Niguel-Dana Pointwith free, real-time updates from Patch.

Detached properties:

Currently there are 66 active detached properties available from $400,000 to 20
million in Laguna Niguel. There are 69 properties in back up or
pending status and 50 have closed so far this month. The least
expensive sold detached property was $400,000 and the most expensive
sold property was just under 3 million. Of these 69 in escrow 34 are
standard sales and 35 are short sales.

Just for laughs, one of the cheapest detached homes to sell this month
sold on Friday for $383,000. It was on the market as a short sale for
522 days and needed a contribution of about $25,000 to pay off back
HOA dues. Actually, it took longer than two years, was in escrow
several times, had about six listing agents, back HOAs, a bankruptcy,
and a few more choice items. I'll be glad when the short sales go
away, won't you?

Ron Buck, Keller Williams Realty

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