Rancho Santa Margarita, CA Real Estate News

By Paul McDuell
(Realty Benefit)
We had a new short sale come on the market. The clever listing agent only allows showing for one weekend. He publishes the dates and time in the MLS, and clearly states that if you are interesed, you must view it then. All offers were due by 5:00PM Monday. He was asking for Highest and Best offers. Why is this a good idea. The seller isn't bothered with having to show the property, it's only shown Sat and Sun. The agent only has to hold one open house, well technically 2. The open house creates a lot of traffic, getting those interested, enticed to make a more substaincial offer. The listing agent also states in the MLS that the "seller" will make a decision by Thursday. Ok, so the seller making a decision doesn't really help that much, but if it helps a potential buyer make a decision,...
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By Paul McDuell
(Realty Benefit)
Nothing to see here folks - Just noticed that I had 199 blog posts, and figured I would make it an even 200. Interest in Rancho Santa Margarita Real Estate continues to increase. Foot traffic at open houses is the best I have seen in years. Some have said it because the tax incentive is coming to an end, but I don't think that fully explains it. There are too many investors paying cash, and certainly most of those are not first time buyers.
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By Paul McDuell
(Realty Benefit)
Have we reached the bottom? Have prices started to climb? I did a quick comparison of sold condos for 3 different time frames in Rancho Santa Margarita. I looked at condos from 900 to 1200 square feet. I pulled sales data from the three following time frames: 12/1/2008 through 1/31/2009 1/1/2009 through 3/1/2009 9/1/2009 through 10/18/2009 Anyone who is working in this market can attest to how it's changed over the last 9 months. We have gone from a lot of bank owned properties, to almost none. We are seeing HUGE demand in this sector with several offers on every condo that is reasonably priced, and is not a short sale. We are seeing several ALL cash offers. We are witnessing FHA, first time buyers being forced to the sidelines as investors swoop in and grab these homes at bargain price...
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By John Alesi, (Orange County California Real Estate)
(Century 21 Award)
Rancho Santa Margarita is one of the newer cities in Orange County California, incorporated as a city in 1999 and situated in the shadow of the Santa Ana Mountains  The twin peaks of Santiago and Modjeska are the backdrop for the city and the adjoining wilderness areas.  This 13-acre man made lake is a central focus of recreation in the community with a swimming lagoon and beach club.  The 1 mile path around the lake is in constant use by runners, walkers and roller bladers seeking a picturesque workout place.     If you would like more information about Rancho Santa Margarita, CA or have any questions, feel free to contact me thorugh this blog or through my website at www.YourOCHome.com  
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By Harrison K. Long, REALTOR , GRI, Broker associate, Attorney
(HomeSmart, Evergreen Realty)
Dove Canyon - Rancho Santa Margarita, South Orange County ~ premier residential community designed and built around Dove Canyon golf club and its course.  With about 1,200 homes and 5,000 residents, Dove is located in the foothills of South Orange County on the south and east side facing toward Saddleback Mountain. Inside the guard-gated entry is a Jack Nicklaus signature golf club, pool, tennis courts, child's park, play field, shopping center, and water reservoir.  All homes in Dove are single-family residences.  A horse trail starts outside the community gate and continues to Sycamore Canyon, where hikers, horse riders, bikers, go into neighbor community, Coto de Caza. Homes at Dove range from asking price of $599K to $1,150,000. See Dove Canyon homes for sale (click here for free ac...
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By Linsey Ehle
(M Realty)
The Bad News Unfortunately, the short sales in Las Flores are abundant at all price points. Short sales comprise nearly half of all the inventory - 7 of 15 current active listings. The bulk of them (5) are in the $500 to $750 marketplace. The one big failing in my video post is the lack of mention in the short sale closings - there are none in the last 30 days. It's important to note because of the abundance of active homes and those in escrow that are short sales - in 30 days we haven't had 1 short sale successfully close. The pending, or 'In Escrow' inventory, are slightly skewed by the high number of short sales. Many of these properties have been in escrow for months, and some may ultimately foreclose. Out of the 17 in escrow - 11 of them are short. So What is the Good News? The go...
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By Mike Pahua, Orange County Short Sale Realtor
(Orange County Real Estate)
View all the Rancho Santa Margarita Foreclosures. Search addresses, map the properties, view pictures and virtual tours. No cost with easy registration. Updated every 4 hours. The city seal has the brands of Rancho Mission Viejo and Rancho Santa Margarita and Las Flores on the border, with artwork containing Santiago Peak in the background. The tower in the foreground symbolizes the Rancho Santa Margarita Lake Tower. Hughes Aircraft Company's Microelectronic Systems Division and Connecting Devices Division moved to Rancho Santa Margarita in May 1988 from Irvine. In August 1992 the Hughes plant closed its facilities and moved the division to Carlsbad, California due to budget constraints in the aerospace industry. La Cañada Flintridge had the longest city name in California with 18 lette...
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By Ann Urias, Your Real Estate Concierge
(Aston Group - Orange County Real Estate)
RE/MAX Homes & Estates Pre-Foreclosure Division 9241 Irvine Boulevard, Suite 150, Irvine, California 92618 (714) 588 -7676 ∙  www.orangecountyshortsalerealtor.com   If you are in a situation where: • You lost your job • Your Medical Expenses are too high • Just went through/going through a divorce • You are behind on your payments • You have no equity • You can't afford the cost of selling your home • Your income has been reduced • You are in foreclosure   WE CAN HELP YOU! It's easy and doesn't cost you any MONEY! Our services are Free!!! WHEN THE DEBT EXCEEDS YOUR HOME'S VALUE... we can help is with a SHORT SALE.   Benefits of a Short Sale: • Avoid Foreclosure • Avoid Bankruptcy • Reduced damage to your credit • Postpone your foreclosure sale date • A short sale will stay on your credi...
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Las Flores continues to suffer some of the same conditions we are seeing in the overall South Orange County market - very little activity in the upper price points, a large number of short sales, and very low bank owned activity. As of today, there are 23 homes on the market in Las Flores and 10 of them are short sales, and presently there are no bank owned homes active. Unfortunately, I'm fully expecting the foreclosures to increase in the next 30 to 120 days (refer to my post on OC Real Estate Voice) and subsequently bank owned listings to increase. Ironically, even with the abundance of active short sale listings, there have been no short sales that have successfully closed in the prior 30 days. There are currently 5 short sales in escrow. These can be in escrow for as much as 6 mont...
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By Ann Urias, Your Real Estate Concierge
(Aston Group - Orange County Real Estate)
RE/MAX Homes & Estates Pre-Foreclosure Division 9241 Irvine Boulevard, Suite 150, Irvine, California 92618 (714) 588 -7676 ∙  www.ReMaxAnn.com   If you are in a situation where: •You lost your job •Your Medical Expenses are too high •Just went through/going through a divorce •You are behind on your payments •You have no equity •You can't afford the cost of selling your home •Your income has been reduced •You are in foreclosure   WE CAN HELP YOU! It's easy and doesn't cost you any MONEY! Our services are Free!!! WHEN THE DEBT EXCEEDS YOUR HOME'S VALUE... we can help is with a SHORT SALE.   Benefits of a Short Sale: •Avoid Foreclosure •Avoid Bankruptcy •Reduced damage to your credit •Postpone your foreclosure sale date •A short sale will stay on your credit approx 3 years •BE FREE of fina...
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By Linsey Ehle
(M Realty)
As March comes to an end, it's time to do a quick recap of the active inventory on the market in Las Flores, as well as examining what has sold. Because the price point has a big impact on what is currently moving, I've broken it down by price point and distress sales. Take note that while the bank inventory is currently at zero, it will come back. The moratorium on Notice of Defaults ended (which is the first step in the foreclosure process) and sadly, the NOD filings are back to previous levels. Stay tuned for more on that. Please note: The closed sales are in the last 30 days.   If you ever have any questions about the numbers presented here or questions about the value of your own home in today's market, don't hesitate to ask. There's never any pressure or obligation. That's just no...
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Paul McDuell | Century 21 Superstars | (949) 842-9531 27 Arboleda, Rancho Santa Margarita, CA One of the Most Coveted Tracts in Melinda Heights. Properties Rarely Come on the Market Here, and it’s no Wonder Why. It’s a Great Place to Call H 3BR/2.5BA Single Family House offered at $467,000 Year Built 1997 Sq Footage 1,451 Bedrooms 3 Bathrooms 2 full, 1 partial Floors 2 Parking 2 Car garage Lot Size 4,038 sqft HOA/Maint $112 per month DESCRIPTION One of the Most Coveted Tracts in Melinda Heights. Properties Rarely Come on the Market Here, and it’s no Wonder Why. It’s a Great Place to Call Home and Raise a Family. THIS Home in Particular, Has an Incredible Trabuco Canyon Natural Wildlife Area Directly Behind Your Backyard. (View and Serenity Included). see additional photos below PROPERT...
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By John Alesi, (Orange County California Real Estate)
(Century 21 Award)
John Alesi | CENTURY 21 Superstars | john@yourochome.com | 949-510-2154 36 Brisa Fresca, Rancho Santa Margarita, CA Open House SUNDAY May 29, 2009 1:00-5:00pm 4BR/3BA Single Family House offered at $599,000 Year Built 1991 Sq Footage 2,160 Bedrooms 4 Bathrooms 3 full, 0 partial Floors 2 Parking Unspecified Lot Size 4,340 sqft HOA/Maint $99 per month DESCRIPTION Located in a wonderful neighborhood of Buena vista. Conveniently located close to toll roads,shopping and parks. Tremendous curb appeal invite you into this newly remodeled home. Enter the double doors into an open spacious floorplan with roaring ceilings and a sweeping staircase. New tile floors, granite counters and new stainless appliances. Nuetral paint and carpet.Main floor bedroom and interior laundry room. Large private b...
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By Linsey Ehle
(M Realty)
After years in this business, my husband has learned a few realities about my business: "I just have to return this one phone call." Translation: 30 minutes and several phone calls. "I just have to run down to my office and shoot out a quick email." Translation: 20 + minutes in the office. "I'll be in my office catching up for just a bit." Sadly the translation: I'll be in bed about an hour after you. Consequently, he has affectionately referred to my home office as, 'The Black Hole.' I have three children so he certainly appreciates the fact that I get things done when I have time and unfortunately, that isn't always 9 to 5. This week, something fun came out of 'The Black Hole' that I'm excited to launch: My Las Flores hyperlocal community blog. After working in the Orange County commu...
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By Linsey Ehle
(M Realty)
Las Flores is not unlike many communities these days in Orange County. We are plagued by low demand and a good deal of short sale inventory. Short sales are when the encumbrances/loans against the property are higher than today's market value plus costs of sale. Currently we have 19 Active Listings in Las Flores. Of that inventory, we have no bank owned homes presently and 8 homes, or 42% of the inventory, are short sales. Consumers that have actively been looking understand the challenges today with short sales and unless they are very attractively priced, they generally shy away from them. Consequently the short sales are forced to price themselves very aggressively which has the unfortunate side effect of a downward pull on pricing in the neighborhood. The average Days on Market is 1...
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By Fred Sed, Your Southern Cali Realtor, Why? Because Fred Se
(Fred Sed Group ~ Your Premier Southern California Realtors)
Would you like to live in Rancho Santa Margarita? Are you having trouble locating the property that is right for you? Then come and check out our site for free! That's right for free! Click on this site: Http://www.PGLeases.com It is very user friendly and has all the properties in all the prices!
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By Paul McDuell
(Realty Benefit)
Jan 2009 - we have 33 homes listed for sale in Dove Canyon, Rancho Santa Margarita. The highest list price of those home is $1,379,000 The lowest list price is $639,000 The Average size per Square Foot is 3,072 Average List Price per Square Foot is $300 There was ONE sale in Jan of 09 - It sold for $264 a Square Foot There was ONE sale in Jan of 08 - It sold for $275 a Square Foot Obvisously, not a lot of statistics to go on, so let compare 07 to 08 There were 50 sales in 08 There were 51 sales in 07 Dove Canyon statistics never cease to amaze me - prices and numbers of sales just haven't changed much over the last couple of years. If you are thinking about purchasing or selling a home in Dove Canyon, give me a call or drop me an email - we should talk. Paul
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By Paul McDuell
(Realty Benefit)
So, how has the first month of 2009 compare to the first month of 2008? I take a look and share the results with you. 2008 Stats From Jan 1st. 2008 through Jan. 31st 2008 there were 39 total sales in Rancho Santa Margarita 19 of those sold were Condos, and 20 were Single Family detached homes. The highest sale price was $825,000 The lowest was $184,000 The Average Price Per Square Foot was $303 The Average size was 1,562 Square Feet The Average year built was 1992.5 2009 Stats From Jan 1st. 2009 through Jan. 31st 2009 there were 33 total sales in Rancho Santa Margarita 22 of those sold were Condos, and 11 were Single Family detached homes. The highest sale price was $740,000 The lowest was $152,500 The Average Price Per Square Foot was $250 The Average size was 2,016 Square Feet The Ave...
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By Paul McDuell
(Realty Benefit)
Like everyone, I get curious about the local Real Estate market. We all think we know the market, and typically we have a pretty good idea of what is going on. I think it's good practice to actually crunch some numbers and see what is actually happening. So, in that spirit, here are some stats for Rancho Santa Margarita Ca. today - 2-1-09 There are currently 267 homes listed for sale Of the 267, there are 119 that are listed as Short Sales 148 of those listed are NOT listed as Short Sales Only 33 of those are listed as Bank Owned  
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