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market conditions: Lake Forest California Market Report - May Sales - 06/05/10 11:34 AM
Sales activity in Lake Forest for the month of May was (not surprisingly) UP from last year!
The end of the national first time buyer tax credit, combined with the beginning of the new California tax credit (started 5/1/2010) was likely a very significant factor in this! I am betting that there were several escrows scheduled to close in late April that ended up sliding into the early part of May to take advantage of a potential “double dip.” The April sales totaled only 49 properties, while May included 59 – a 20% increase in volume!
Here’s the breakdown of … (0 comments)
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market conditions: Orange County Market Update - 02/22/09 06:11 PM
The market continues to be busy in the lower end of the price range, and bank-owned and short sales are making up about 61% of all closed sales in Orange County.
Today, there are a total of 11,577 homes for sale in Orange County. Of those, 4783 (42%) are labeled as either bank owned or short sales. Of the 4363 that are currently in escrow, 2925 (68%) are distressed. In the last 30 days, 1018 (61%), of the 1653 closings were distressed.
Buyers are looking for the best values that they can find, and the best priced homes are usually bank owned. Short sales … (1 comments)
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market conditions: Market Conditions in Lake Forest, California - June 1, 2008 - 06/01/08 06:32 PM
Based on the levels of inventory, it looks like we are shifting back toward a seller's market! When the ratio of active listings to sales, or new escrows gets down below 6 months, it has generally been considered a market that favors sellers. This doesn't mean that prices are likely to rise soon, but that it is more likely that a buyer will take action sooner when a well-priced property comes on the market. While there are still many bank-owned homes coming on the market, many seem to be getting more agressive with the pricing right from the start. There are … (3 comments)
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market conditions: Lake Forest Market Conditions - First Quarter 2008 - 04/05/08 11:53 PM
The Lake Forest real estate market is tough right now - for sellers, for buyers & for agents! While there are a lot of listings active on the MLS, when they are divided up by size, price, and locations, there really isn't much to choose from. Today, out of 344 properties on the market, 58% of them are either short sales or bank-owned. The nicer homes that are in good condition are more rare, and when they become available on the MLS, there are often multiple offers!
The first quarter of the year has now ended and the preliminary numbers aren't pretty! … (4 comments)
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market conditions: Lake Forest Real Estate Market - December 2007 - 12/16/07 10:35 PM
The Lake Forest market, as well as surrounding cities in the South Orange County area, seem to be picking up the pace a little now. The inventory has shrunk some, as many sellers have taken their homes off the market for the holidays, and the prices are now noticeably lower than last summer.
I have heard from several of my agent friends that they also are feeling that the market is picking up from the doldrums, as buyers seem to be cautiously reappearing.
The pricing now starts at $169,900 for a single story, one-bedroom condo that is a short sale, and … (4 comments)
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market conditions: Lake Forest Real Estate Market - September 2007 - 09/17/07 02:56 PM
The current market is very slow now, but it is typical for this time of year. Traditionally, August and September are the months when people's attention is focused on vacations, returning from vacations, or back-to-school activities, and football so this is not unusual. Next month should pick up as buyers will try to get moved and settled in before the holidays.
In Lake Forest today, there are 256 single family homes on the market. The lowest end is now priced under $500K, with 3 currently available, and several others that are "value range" priced from $499K to mid-$500s. Last month, one actually … (2 comments)
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market conditions: Lake Forest Market Conditions - Early June Report - 06/03/07 02:48 PM
The real estate market in Lake Forest continues to be slow. In the last month, total closed sales of only 39 properties is off our average by more than 50%. (These are early numbers and may improve a little in the next few days when a few more closings could be reported in the MLS.)
Current Lake Forest Real Estate Statistics :
Single Family HomesStatus Units Avg List* $/square ft===== === ====== =======Active 191 $760,471 $394Backup 15 $791,100 $382Pending 16 $722,286 $366Closed May* 25 $751,771 $352* For closings, actual sale price reported
Whether you compare the active inventory level to the most recent month's … (0 comments)
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market conditions: Lake Forest Year to Date Market Conditions - 06/01/07 01:02 AM
Lake Forest Spring Sales Activity (Jan 1 - April 30) 1999 thru 2007I went through the SoCalMLS and pulled out the history numbers for Lake Forest sales for the past 9 years (all they had available.) These numbers are for the period of January 1 through April 30 for each year.
Year #List/#Sold Avg$ (#Days) %+/-1999 - 686/565 $221,404 (46) - - - -2000 - 760/513 $241,235 (34) + 9%2001 - 901/508 $272,271 (26) +17%2002 - 711/584 $293,809 (33) + 8%2003 - 667/524 $352,886 (31) +20%2004* - 672/468 $455,452 (14) +29%2005 - 663/548 $506,318 (49) +11%2006 - 677/339 $571,644 (52) +13%2007 - 646/243 $581,272 (79) + 1.6%* In 2004, … (0 comments)
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market conditions: Market Update - March 31 - 03/31/07 04:38 PM
The inventory of available homes has climbed almost 15% in the last 2 weeks, and escrows-in-process have dropped by 10%. Since we are now into our "normal" buying and selling season, it is not surprising that more listings are coming on the market, but someone forgot to invite the buyers to come out of hiding! The decline in the total escrow number includes both closed sales and cancellations. I have noticed a much higher than average rate of properties coming "back on the market" due to buyers failing to qualify for their financing. With the recent tightening of lending standards and … (0 comments)
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market conditions: Market Conditions - For February 2007 - 03/17/07 04:13 PM
(I actually wrote this on March 2, but somehow didn't post it until today. I will post my next market activity and inventory report tomorrow.)
Inventory is fairly stable, new escrows have picked up a little bit, and closings are close to last month's levels. We now have 230 listings available on the MLS with 72 properties currently in escrow. Based on last month's closings of only 36, the inventory level is over 6 months, but compared to the new escrows, we have about a 3 1/2 month supply. The pace has definitely picked up since the first of the year.With only 36 closings in … (0 comments)
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Vicki Lloyd ~ (949)457-0281 Lake Forest and South Orange County, CA
Lake Forest,
CA
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The Real Estate Professionals
Address: Lake Forest, CA, 92630
Office Phone: (949) 457-0281
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Vicki Lloyd shares her views of all things real estate related in Orange County, California.
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