Sophia Choi, Home Buyer in Shanghai

Within Laguna where is the most upside? Laguna Hills, Laguna Beach or Laguna Niguel, etc. Trying to narrow

Asked by Sophia Choi, Shanghai Fri Jun 27, 2008

down neighborhoods to buy in.

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Answers

3
Sophia ... good question about what community has the biggest upside, Laguna Beach, Laguna Hills, or Laguna Niguel.

I believe that some parts of Laguna Niguel have the biggest upside at this time. This area has sustained significant price lowering during the past 13 months, and there are lots of good homes now on the market, some bank owned after foreclosure. This area will bounce back sooner that Laguna Beach itself where the prices have stayed relatively high. I hope that helps. Let us know if we can help further with your real estate situation. Thanks.

Harrison K. Long
REALTOR® and broker
Coldwell Banker Previews International
For the best property search check out
http://www.BuyersExploreHomes.com
949-854-7747
0 votes Thank Flag Link Thu Nov 6, 2008
Sophie, Laguna Beach is holding it's own. Since it's a waterfront community and popular tourist destination, we have not seen much of a drop in terms of real estate pricing. It all comes down to the old adage "location, location, location". We do not see the short sales and REO's (bank owned) listings as you do in Laguna Hills and Laguna Niguel. You cannot purchase a property with 0% down here in Laguna Beach. The mortgage problems arose from the 0 -3% down financing and adjustible rate mortgages. I've been showing bank owned properties in Irvine, Aliso Viejo, Laguna Hills, Laguna Niguel and other towns in this area. Their are some incredible deals but there is fierce competition for these homes. Many of my buyers offers have been rejected because the banks are receiving multiple offers and many of them are over asking price! If you could let me know what you are looking for (i.e. # of bedrooms, # of baths, garage? price range, etc.) I'm quite familiar with the inventory in this area. I can send you what's currently available and also update you with the latest new listings on a daily basis. You can reach me at:

Cynthia Fleming, REALTOR®
Coldwell Banker Previews International
31582 S. Coast Highway
Laguna Beach, CA 92651
Direct: 949-499-8791
Cell: 603-216-7906
email: cfleming@coldwellbanker.com
0 votes Thank Flag Link Thu Jul 31, 2008
Hi Sophia,

I think the number of bankowned homes in an area will influence the prices. Here are the number of bankown homes in the three cities you mentioned above;

Laguna Niguel 19 bankown 7 of them Single family residence
Laguna Hills 18 bankown 5 of them single family residence
Laguna Beach 3 bankown all are single family residence

As you see Laguna Beach has the lowest number of bankowned and the prices have been holding a lot better than in some areas of Laguna Niguel and Laguna Hills. Also the number of existing shortsale homes are very important. The number will tell you how the market will be in the next few months.

If you are not working with any agent I can set you up to receive listing of shortsale/bankown and other normal sale within your specification. I think you need to decide what size and type of home you like to purchase. Some areas have newer homes. Other things you need to think about are Mello Roos taxes and HOA fees. These questions and more will help me to narrow down the neighborhoods for you. If you like me to help you please contact me at (949)637-3845 or email me at homa@homamoaddel.com. I know the market in these areas very well.

Sincerely,

Homa
Broker Associate,
Prudential California Realty,
Mission Viejo
0 votes Thank Flag Link Fri Jun 27, 2008
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