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Ladera Ranch becomes Orange Countys Weakest Housing Market

By
Real Estate Agent with Keller Williams Realty 00998118

Using DataQuick data for the most recent quarter — 2008’s third, weo rank the 83 ZIPs by price, sales and foreclosure — then determined an overall ranking by finding each ZIPs average ranking.

Columnist Jon Lansner’s ranking of O.C.’s 83 ZIP codes by 3 key home-market performance benchmarks: Pricing and sales momentum (year-over-year change) plus foreclosure density (foreclosures per homes in neighborhood).

Ladera Ranch 92694 — one of Orange County’s newest community’s — was the Orange County housing market’s worst performing ZIP code in the third quarter, according to my Zippy rankings.

Ladera, which ranked a sad 81st out of 83 O.C. ZIPs for the second quarter, became the county’s low-end due to poor performances in all three categories the Zippys track — pricing momentum (68th of 83); sales momentum (51st) and foreclosure density (71st.) The new community has suffered from a rash of over-eager homebuyers getting strapped with new houses they could not really afford.

Just behind Ladera is another South County community, Dana Point 92624. Ranked 27th in the second quarter, Dana Point dropped sharply largely due to a 82nd ranking in pricing.

Another fallen star from the south is Newport Coast 92657, down to 79th this quarter from 20th in the previous three months. It, too, had a 82nd ranking in a key slice of the Zippys — for selling momentum, or the lack thereof.

Here’s the Bottom 25, third-quarter rank; second-quarter rank, median selling price; and rankings for price and sales momentum and foreclosures density:

Q3 rank

Q2 rank

Town

ZIP

Price

Pricing rank

Selling rank

Foreclosure rank

83

81

Ladera Ranch

92694

$539,000

68

51

71

82

27

Dana Point

92624

$628,750

82

54

43

81

83

Santa Ana

92701

$192,000

80

15

80

80

80

Santa Ana

92706

$380,000

78

22

74

79

20

Newport Coast

92657

$1,798,000

74

82

13

78

77

San Juan Capistrano

92675

$344,500

83

19

65

75

76

Santa Ana

92704

$304,250

79

6

81

75

75

Orange

92866

$395,000

71

57

38

75

48

Buena Park

90621

$360,000

54

50

62

74

73

Santa Ana

92707

$250,000

81

1

83

72

40

Stanton

90680

$292,000

62

21

77

72

79

Anaheim

92805

$340,000

77

5

78

70

68

Tustin

92780

$350,000

75

14

69

70

33

San Clemente

92672

$658,250

49

80

29

68

72

Santa Ana

92703

$290,000

72

3

82

68

54

Orange

92869

$439,000

63

53

41

66

64

Fullerton

92832

$346,000

70

27

59

66

78

Anaheim

92801

$314,500

73

8

75

65

36

Placentia

92870

$408,000

65

47

42

64

44

Foothill Ranch

92610

$401,250

76

23

54

63

46

Rancho Santa Margarita

92688

$450,000

31

56

64

61

69

Laguna Hills

92653

$367,500

61

33

55

61

74

Anaheim

92802

$350,000

69

24

56

59

38

Laguna Niguel

92677

$533,500

60

58

30

59

42

Buena Park

90620

$375,000

59

16

73

24

48

Santa Ana

92705

$655,000

37

26

45