Orange County CA Real Estate

There are many Orange County homeowners who are caught in today's mortgage loan crisis. Home values have now dropped by 20% to 30% in some cases.  And there are a large number of highly leveraged loans with adjustable rate mortgages, which results in thousands of Orange County property owners having great difficulty keeping up with their mortgage payments, and unable to refinance or sell.  There is now a growing trend for homeowners who are caught in this mortgage loan crisis, to simply stop making their mortgage payments and walk away from their home and letting it go to foreclosure sale.  There is even a website company that focuses on this growing trend and charges clients $1,000 or more simply to tell them to let the home fall into foreclosure.  I think this is a big mistake.  A Short Sale is a far better solution, and more socially responsible choice compared to simply letting the property go back to the bank via foreclosure.  Let's compare the two choices. 

First a few definitions.  In a Short Sale, the homeowner decides to the sell their home, and the sales price minus sales costs, are less then the current loan balances on the property.  In this scenario, the mortgage bank(s) must agree to forgive some of their debt in order for the  property to be sold and close escrow.   A Foreclosure is a legal process initiated by the mortgage bank(s) after several months of mortgage payments have been missed by the homeowner.  This Foreclosure process begins with a 90 day Notice of Default process, followed by a 3 week Notice of Trustee sale period.  At the end of this period, the home is sold via open outcry auction on the county courthouse steps to the highest bidder, or goes back to the bank unsold and becomes an REO property. 

The Short Sale is a much more dignified solution then a Foreclosure.  In a Short Sale, you list your home with a local Realtor (who has experience with short sales). As far as your neighbors and the public is concerned, it is a normal home sale, just like any other.   A Foreclosure on the other hand, usually winds up first as a vacant neglected bank owner REO home with a brown lawn, dead landscaping, and stacks of nwepapers on the driveway.  Then a REO Agent posts "Bank Owned Home" signs all around the neighborhood during the weekend for weeks in a row. In addition, Short Sales nominally sell for about 5% more then the corresponding resale of the bank REO.  A Short Sale transaction is better for the bank, the local real estate market, and even the homeowner.

The Short Sale is better for the homeowner for financial reasons as well.  A foreclosure will usually stay on ones credit report for up to 7 years, while according to mortgage industry experts, the newly  refurbished FHA loan will allow a prospective  buyer buy a home with 1 year after conducting a Short Sale. Also, industry experts in credit counseling state that a Short Sales are approximately 100 points less damaging to ones credit as compared to a Foreclosure sale.

Finally, a little know but huge advantages of a short sale as compared to a foreclosure is the following.  In Orange County, there are many homeowners who have a 2nd trust deed (TD) Home Equity Line of Credit (HELOC) loans. The majority of these loans are recourse loans, which in California, means that if the first mortgage were to foreclose, the 2nd TD HELOC loan is removed from the home, but is not wiped out at the foreclosure sale.  It then becomes a delinquent unsecured debt.  The 2nd TD HELOC lender then has no other choice but to go after the homeowner will all of the legal recourse available to them.  A Short Sale, on the other hand, allows the knowledgeable real estate agent to negotiate with both the 1st and 2nd mortgage holders, in order to divert some of the available sales proceeds to the 2nd HELOC lender, so that they will agree to wipe out the HELOC debt at the close of escrow with no recourse against the homeowner. 

If you have any questions about the Short Sale process, please feel free to call for our real estate team has many years of experience in this area of expertise.

Currently there are 288 homes and condos listed for sale in Dana Point.  Of these properties, only 18 are Short Sale homes and condos, and 12 Bank owned REO properties listed for sale in Dana Point, CA.   This represents 10% of the available inventory are distressed properties for sale.  For sold homes in the month of April, there were 35 properties that sold and closed escrow in the past month.  Of these 35 sold properties, 4 were Bank Owned REO  transactions, and 1 was a Short Pay property.  This represents 14% of the transactions in the month of April were distressed properties.

If you would like more information about homes and condos for sale in Dana Point, CA., please visit our website at:  Dana Point Real Estate.  If you would like more information about short sale or Bank Owned REO properties, visit our OCBargainHomes.com website by clicking on the link at the top left of this blog. 
 

Looking for an enchanting retirement community?  Then Laguna Woods is the place for you! Enjoy the vibrant lifestyle and beautiful weather of this tight knit 55+ community located in the magnificent Orange County.  Laguna Woods encompasses four square miles adjacent to Laguna Hills in an exceptionally safe area with guarded security gates. It is conveniently located just a few minutes from the Laguna Hills Mall which provides over 80 retail shops, several appealing dining locations, and an on-site movie theater. Opportunities for activities in this charming city are endless. Have you ever been interested in horse back riding? The Laguna Woods Equestrian Center provides trails, horses, and training for their residents as well as special events that are hosted annually.  Take advantage of the endless amenities including Laguna Woods golf course, walking trails, fitness centers, community pool and spa, sauna, picnic areas, tennis courts, and a community recreation clubhouse. Laguna Woods provides a free bus system to residents making transportation easy and comfortable.

One can find a condo, townhome or a detached home to fit most anyones tastes and budget.  From modest 1 bedroom flat condos, to spacious 3 bedroom detached homes with 2 car attached garages, Laguna Woods has it all for the 55+ buyer.      Laguna Woods incorporates 12,700 owned condominium and cooperative units which house approximately 18,500 residents. Owners who live in Laguna Woods pay a homeowners’ association fee that is used to provide residents with public transportation, patrolled private security, clubhouses with special programs and recreational activities. Also included within the Leisure World community are two golf courses for the private use of Laguna Woods residents.  

Take a look at our featured, beautifully remodeled property located of 3426 Bahia Blanca in Laguna Woods. Today's Laguna Woods featured condo for sale is a 2 bedroom, 2 bath, 1 garage condo which has been been completely renovated to new condition, such as: Marble flooring in the kitchen area, beautiful granite counters in kitchen and bathrooms with full back splash and waterfall edge, solid maple cabinets with cushion close drawers, crown molding throughout, hot and cold filtered water system in kitchen, Stainless appliances, Jacuzzi tub in master bedroom, surround home theater speaker system, new water heater, and more!  Currently, this luxurious condo is ranged priced from $450,000 to $500,000.  With a lovely views of the hills in Laguna Wood, anyone would be proud to call this magnificent property home.

The City of Laguna Woods was incorporated in March 1999 and encompasses approximately 2,100 acres of land. The City of Laguna Woods is located in south Orange County between the San Joaquin Foothills and the Santa Ana Mountains. The City is bordered on the north, east, and southeast by the City of Laguna Hills, on the northwest by the City of Irvine, on the west by unincorporated Orange County and the City of Laguna Beach, and on the south by the City of Aliso Viejo.  With more than 86% of the population over 65 years of age, the elderly are the largest special needs group in the City of Laguna Woods. Affordable housing has been identified by South County Senior Services as the primary need for the elderly; health care and in-home care and transportation services needs were also indicated. Significant resources for the elderly exist in and near the City of Laguna Woods and   Florence Sylvester Memorial Senior Center; offers a nutrition program, congregate meals, home delivery of meals, social services case management, seniors activities, information, and referral services.

If you would like to view all homes and condos for sale in Laguna Woods, please visit our website at: Search Orange County Homes and Condos

As stipulated in the newly passed Economic Stimulus Bill of 2008, FHA announced the  new loan limits for Orange County, CA.  This new FHA loan limit is based on a calculation of 125% times the median price, up to a maximum of $729,750.  Since the median price in Orange County is around $600,000, the new FHA loan limit for Orange County is the maximum allowed.  Below is a table of the loan limits for single family homes, as well as small multi-family housing:  


HUD Secretary, Alphonso Jackson recently announced the new limit increase at the Anaheim Convention Center where HOPE NOW was conducting a national anti-foreclosure campaign. This new $729,750 limit will double the previous FHA loan limit of $362,790, the U.S. Department of Housing and Urban Development (HUD) announced. This limit is good until the end of the year when it reverts back to $362,790, but some feel this deadline will be extended into 2009'.  This new bill will allow FHA to refinance of up to 97% loan to value, but most mortgage lenders will only go up to only 90% loan to value.

This new FHA loan limit will enable many Orange County homeowners to refinance out of their expensive adjustable rate mortgages, even if their property has has gone done in value over the past few years.  Also, the new FHA loan program will allow some homeowners with adjustable rate mortgages to refinance if they are behind on payments.

Another great benefit for Orange County would be home purchasers, is that FHA is much more forgiving of a few negative marks in ones FICO credit rating. in the past 12 months, Conventional lenders have become much more demanding on credit quality. New FHA underwriting will also allow for more flexible income documentation and less time on a given job.

This new FHA loan limits for orange County plus more flexible qualification standards could be a big boost for the slumping Orange County housing market.  Many Orange county residents depend on jumbo loans, anything above the current $417,000 limit. Interest Rates on jumbo loans are more expensive, ten conforming loans (ie: loans below $417,000).  The average rate tis past week for a 30-year fixed conforming loan in Orange County was 5.9 percent with a one-point fee, while the average jumbo rate on a 30-year fixed was 6.9 percent with a one-point fee.

If you would like more information on the new FHA loan limits, or would like a referral to a couple of great local FHA lenders, feel free to call us at: (949) 388-3396, or send us an email at:  Info@OCRealtyGroup.com   We specialize in Short Sale workouts for Orange County homeowner in need.  If you would like to learn more about Short Sale workouts, visit our website at:  www.OCShortSaleCenter.com

The beautiful one story single family homes at Crown Valley Highlands were built in the early 1970's by Avco builders.  This popular community was developed in the foothills of north Laguna Niguel and many of the lots provide a panoramic view.  The residences at Crown Valley Highlands offer a wide variety of 8 single story floor plans ranging in size from 1,157 to 1,700 square feet.  These floor are listed as follows:

• Carmel - A:  3 bedroom, 2 bath.
• Palm Beach - B:  3 bedroom, 2 bath.
• St. Topez - C:  3 bedroom, 2 bath.
• Nassau - D:  4 bedroom, 2 bath.
• Newport - E:  3 bedroom, 2 bath.
• Key West - F:  4 bedroom, 2 bath.
• Costa Brava - G:  2 bedroom, 2 bath.
• Montego - H:  3 bedroom, 2 bath.

Over the years, some of these homes have been completley remodeled with room additions, and some homes now range in size up to 1,900 square feet.  Crown Valley Highlands boasts of a community swimming Pool, wading pool, clubhouse, community parks and hiking/biking trails close by. 

Home prices currently range from a low of $520,000 for the smallest floor plans with no view, and view upgrades, up to the $750,000 for the larger floor plans with some views and some upgrades.  The streets that comprise of Cronw Valley Highlands are:  Belmar Dr., Calverton Cir, Colebrook Dr., Ellendale Dr., Felton Dr., Jarrett Cir., Kensington Dr., Preston Dr., Quigley Dr., Sedgewick Dr., and Warwick Dr.   Crown Valle Highlands is located close to the intersection of Niguel Road and Alicia Parkway.

Crown Valley Highlands is serviced by the award winning Capistrano Unified School District.  The grade school is Moulton Elementary, and the Junior High is Aliso Middle School.  The upper classes are conducted at the award winning Aliso Niguel High School. 

If you would like to view all homes for sale in Lagun Niguel, please visit our website at:  Laguna Niguel Real Estate.   If you have any real estate related questions, or would like to view any home listed for sale in Laguna Niguel, please email us at:  Info@OCRealtyGroup.com or Text Message us at:  949-283-4679

The beautiful estate homes in the gated community of Careyes at Talega were built in 2005' by the prolific home builder, Brookfield Homes.  This fine subdivision consists 42 luxury homes comprising of 7 spacious 4 to 6 bedroom floor plans ranging in size from 4,400 to 5,200 square feet.  These Rancho Santa Fe inspired homes feature bold architectural styling with romantic courtyards, private quest suites and view decks.   The floor plans are detailed as follows:

• Plan 1 - A - 5 bedrooms, 5.5 baths, 4,488 square feet, 3 car garage
• Plan 2 - B - 5 bedrooms, 5.5 baths, 4,693 square feet, 4 car garage
• Plan 2CX - C - 5 bedrooms, 5.5 baths, 5,013 square feet, 4 car garage
• Plan 2DX - D - 5 bedrooms, 5.5 baths, 5,075 square feet, 4 car garage
• Plan 3 - E - 5 bedrooms, 5.5 baths, 4,855 square feet, 3 car garage
• Plan 3CX - F - 5 bedrooms, 5.5 baths, 5,175 square feet, 3 car garage
• Plan 3DX - G - 6 bedrooms, 6.5 baths, 5,237 square feet, 4 car garage

These homes overlook the Talega Golf Course and many of the homes boast of panoramic views.  Each home has a 3 or 4 car garage, and separate family and living rooms.   Some of the luxury features one will find in these homes comprise of:   Center courtyard, Guest Casita, over-sized fireplace, forever views to the ocean, wood beamed ceilings, hardwood flooring, gourmet kitchens with granite counters, maple cabinets, top appliances, formal dining room with built-in buffet and butler's pantry, custom stone tile, main floor library or office/den with built in cabinetry, built-in media center, large master suite with built-in office cabinetry, huge walk in closet, luxurious bath with dual vanities, large soaking tub and separate tile shower, and much more. 

All of the homes in the Careyes tract are located on Calle Careyes or Calle De Los Sonador, which are  located just of off Avenida Talega, but the corner of Avenida Pico and Avenida La Plata.  

Current prices for the fine estate homes of Careyes range from $1.7 Million up to $2.5 Million.   The Careyes tract is serviced by the award winning Capistrano Unified School district.  The elementary school is vista Del mar, and the middle school is also Vista Del Mar.  the upper classes are conducted at San Clemente High School.

Telaga is a beautiful maser planned community recently developed in the mid 2000's, and is nestled in the rolling hills of central San Clemente at the end of Pico Avenue.  Talega has over 2,000 acres of open space, 19 miles of trails, a nature preserve, swim and athletic clubs, the championship Talega Golf Course, and numerous parks and sports fields.   And best of all, it just a short drive to the beautiful beaches of San Clemente.   San Clemente was founded in 1925 by Ole Hanson, who called it the "Spanish Village by the Sea".  Amazingly, the whole feel of the downtown portion of the city and pace, hasn't changed much since that time.  The sun shines about 342 days of the year. and the people are still some the friendliest around.  For decades, this charming, laid back city has been both a favorite coastal destination and one of the nicest spots in Orange County to call home.

If yo would like to see all homes listed for sale in Talega or San Clemente, please feel free to visit our website at:  San Clemente Real Estate.   Or if you would like a private showing of any home listed for sale, please contact us at:  Info@OCRealtyGroup.com    or Text us at:  949-283-4679.

Real estate prices in Orange County have pulled back substantially in the past 18 months.  In the City of Aliso Viejo, CA. the price per square foot in the 3rd Quarter of 2006' was $408/SqFt, and the price per square foot for detached homes now stands at $336/SqFt.  This represents a drop in values of 17.5%.  This severe pull back in prices is the result of a much needed correction to the unprecedented run-up in prices from 1997 to 2006', coupled with a high rate of foreclosures caused by the easy money lending standards of the past 5 years.

This major drop in home prices, has made for a good time for prospective home buyers.  Today's prices represent what homes were selling for in mid 2004', and interest rates are still at all time lows.  Plus, congress is about to pass temporary loan limit increases for FHA loans, which will enable many first time home buyers to purchase a home in Aliso Viejo.

Currently there are 27 detached homes that are listed for sale that are priced less then $550,000.  These homes range in price from $449,000 for a 3 bedroom, 2 bath, 1,300  square foot detached home on Soho Court in the Hamptons tract.   Up to the $550,000 mark for a 3 bedroom, 3 bath, 1,722 square foot home on Wellington Place in the Canterbury tract. 

Address	Bdrms	Baths	Garages	SqFt	Yr Built	Price	Days on Market
3 Soho Ct 38	3	2	2	1,300	1996	$449,900	128
89 Colony Way	2	3	2 A	1,455	1993	$459,900	0
7 Greenwich Ct	3	3	2 A	1,286	1997	$474,876	118
7 Greenborrow Ct	3	2	2 A	1,367	1997	$475,000	118
33 Colony Way	3	2	2	1,455	1995	$479,000	108
4 Maison	3	3	2	1,334	1998	$489,000	36
7 Ryley Ct 18	3	3	2 A	1,300	1996	$489,900	33
29 Santa Clara St	3	3	2	1,493	1989	$495,000	0
4 Estero Pointe	4	3	2 A	1,400	1998	$500,000	23
10 Beaumont	2	2	2	1,102	1998	$500,000	23
37 Rue Du Chateau	3	3	2	1,378	1999	$519,000	15
32 Santa Clara St	3	3	2	1,301	1990	$519,000	12
1 Sherrelwood Ct	4	3	2 A	1,550	1996	$519,000	2
18 Cape Coral	3	3	2 A	1,400	1995	$599,876	49
2 Beaumont	3	2.5	2 A	1,344	1997	$529,800	182
110 Las Flores	3	3	2	1,400	1997	$535,000	6
6 Dominguez St	3	2.5	2 A	1,500	1989	$539,900	63
10 Las Flores	2	3	2	1,363	1997	$539,999	275
11 Via Carisma	3	3	2 A	1,600	2000	$540,000	239
55 COLONY Way	3	2	2 A	1,500	1995	$549,000	170
197 Woodcrest Ln	4	3	2	1,800	1997	$549,000	23
24 Rue Du Chateau	3	3	2 A	1,234	2000	$549,900	76
53 Picket Ln	3	3	2 A	1,500	1999	$549,900	0
17 Wellington Pl.	3	3	2 A	1,722	1999	$549,999	101
190 Las Flores	2	3	2	1,200	1996	$550,000	28
5 Santa Clara St	3	2.5	2 A	1,301	1993	$559,000	49

If you would like to view all condos and homes for sale in Aliso Viejo, feel free to visit our website at:  Aliso Viejo Real Estate.   For a proprietary list of bank owned homes or pre-foreclosure homes for sale, visit our www.OCBargainHomes.com website. 

We are featuring a spacious Duplex home located in North Laguna Beach and just 1 block from the beaches, located on Beverly Street, priced in the mid $1 Million dollar price range.  This property is perfect for the a home owner who wants to live in one unit and rent out the other.  The front unit consists of a 2 bedroom, 2 bath unit consisting of 1,100 square feet and attached 2 car garage. This home boasts of an Ocean View from the garden room, and has hardwood floors. This unit does not have a connecting living area wall with the back unit which offers the maximum in sound insulation and privacy.

The upper-level rear unit consists of 2 bedrooms, 1 bath, 1,000 square feet.and a 1 car garage.  This home also offers an Ocean view, hardwood floors and enclosed deck.  This is an excellent property for a property owner who wants to live in one unit and rent out the other.  The total square footage of the improvements is 2,106 square feet built in 1958.  This duplex home is situated on a 4,500 square foot lot. 

This upper unit is projected to rent for approximately $2,300 per month.  The front 2 bedroom, 2 bath unit is projected to rent for $3,100 per month.  The electricity and gas are individually metered, and has been well maintained. 

This Laguna Beach gem is just one block from the ocean front and Heisler Park, and jsut down the street from Boat Canyon shopping center.  Laguna Beach is known for it's steep cliffs overlooking the crashing waves of the pacific, water-etched coves, and deep canyons.  North Laguna Beach was first developed in 1905 by Howard Heiseler and others. Laguna Beach has a population of approximately 25,000 residents. There are currently 240 detached homes for sale in all of Laguna Beach.  The median priced detached home  is $2,250,00, and the average price is $3,426,907.  In North Laguna Beach the median priced detached home is $2,850,000 and the average priced home in this area is $4,874,219. 

For current pricing, or for a private viewing of the Duplex home for sale on Beverley Street, please call us at:  949-388-3396, or Text Message us at:  949-283-4679.  To view all homes for sale in Laguna Beach, visit our website at:  Laguna Beach Real Estate
  

President Bush signed the Economic Stimulus Bill into law this past Wednesday, February 13th.   Although the details are not finalized, the department of Housing and Urban Development (HUD) has 30 days to publish the median area home prices, Metropolitan Statistical Areas and mortgage principal obligation limits after the bill became law.  The new Proposed Fannie Mae and Feddie Mac conforming loans are to be based on 125% of the area median home price not to exceed $729,750.  That is great news for Orange County, for the median home price here is approximately $600,000, which means that Orange County conforming loan limit should be around the $729,000  limit.

I expect that this year will be the bottom of this severe market correction.  With the proposed buy-out of Countrywide Mortgage by Bank of America, the recent large decrease in the Fed funds rate, the new Federal program called Project Life Line that helps delay and possibly avoid Foreclosures, and  this new Economic Stimulus Bill raising loan limits,  this should put the brakes on  further price erosion here in Orange County..

The new loan limits will apply to 30 year and 15 year fixed rate, fully amortizing (sorry no interest only) and owner occupied homes only.  They should also apply to high Loan to Value (LTV) FHA loans which should really help to stimulate the local real estate market back to normal health.  Adjustable rate mortgage are being considered but but I would not  count on it. Although the bill has passed the information above is not final.  Changes are set to expire on December 31, 2008, although I would be willing to bet the this Bill is extended like many other Bills in years gone by. 

A beautiful estate was recently listed for sale in the Montecito subdivision in Yorba Linda, CA.  This luxury property is located on Red Pine Rd. and was recently built in 2003'.  It  incorporates 4,708 square feet of living area, with 5 bedrooms, 6 baths, and a 3 car garage.  It boasts of panoramic views of the Pacific Ocean, Catalina Island, and city lights views. 

This property includes many fine upgrades and features such as: gourmet kitchen with stainless appliances, cherry wood cabinets with granite counter tops, crown molding throughout, wood shutters, window casings, custom paint, custom mosaic stone, travertine throughout the first floor with designer carpet upstairs.  This fine home also includes 3 fireplace, a large mater bedroom suite with balcony offering panoramic views.  An office/retreat area and separate library is also included in this home.

The backyard is an entertainers delight and incorporates a pebble-tech saltwater swimming pool with waterfall, built-in slate Bar-B-Que, outdoor firepit and patio spaces with panoramic views.  This fine estate is located at the end of a quiet Cul-de-Sac and is situated on a 10,000 square foot lot.

The Motecito subdivision is adjacent to Carbon Canon Park and is close to the intersection of Valle View Ave and Lakeview Ave.  Home in this tract are serviced by the Placentia-Yorba Linda Unified School district.  The elementary school for this area is Lakeview, and the middle school is Yorba Linda junior high.  The high school is El Dorado.

For a private viewing of this fine property, please call us at:  949-388-3396, or drop us an email at:  Info@OCRealtyGroup.com   To view all homes for sale in Yorba Linda, please feel free to vidit our website at:  Orange County MLS Home Search.

Currently there are 221 detached homes for sale in Ladera Ranch, CA.  these homes range in price from $465,000 for a 3 bedroom, 2 bath, 1,812 square foot home in the Tarleton tract on Rinehart road.  On up to $5,995,000 for a 5 bedroom, 7.5 bath, 8,700 square foot estate property in Covenant Hills on Bell Pasture Road.  The median priced home is $989,900, and the average priced home is $1,309,576.  The average days on market is 96 days and the average price per square foot is 376/SqFt.

Today, there are 24 detached single family homes that are under contract Pending in escrow.  These homes range in price from $524,900 for a 3 bedroom, 2.5 bath, 1,775 square foot home on Livingston Place in the Westcott tract.  The maximum home in escrow, is $3,395,000 for a 5 bedroom, 5.5 bath, 4,923 square foot estate home in Covenant Hills on Mission Ridge.  The median priced home is $989,000 and the average priced home in escrow in Ladera Ranch is approximately $1,250,000.  The average price per square foot is $324/SqFt and the average days on market is 80 days.

For homes that have sold and closed in the past 90 days in Ladera Ranch, there  were 42 such detached homes that sold.  These homes range in price from $479,900 for a 3 bedroom, 2.5 bath, 1,600 square foot on Amy Way in the ??? tract.  The highest priced home sold was for $4,350,000 for a 4 bedroom, 5.5 bath, 7,820 square foot estate San Jose street in Covenant Hills.  The median priced home is $824,900 and the averaged priced home is $931,606.  the average price per square foot is $320/SqFt and the average days on market is 81 days.

Comparing these home Sold statistics to the same 90 day period of time last year we find the following.  1 year ago, there were 83 homes that sold and closed escrow in the same 3 month period of time.  The median priced home sold 12 months ago was $835,000 and the  averaged priced home was $1,037,505.  The average price per square foot was $359/SqFt and the average days on market was 81 days.  Below is a table of the results.

Price	2007'	2008'	% Change
Median	835,000	824,900	-1.21%
Average	1,037,505	931,606	-10.21%
$/SqFt	359	320	-10.86%

As can be seen, prices have dropped about 10% in the past year in Ladera Ranch.   This  presents a very good buying opportunity for interest rates are still extremely low, and some properties in Ladera Ranch that are Bank owned REO's or pre-Foreclosures (Short Sales), can sometimes be purchased for 20% to even 30% less then what comparable homes were selling for about 2 years ago.  For a list of bargain homes for sale, please visit our website at:  www.OCBargainHomes.com

This completely remodeled single level estate home is located in the exclusive subdivision of Monarch Bay Terrace in Monarch Beach.  The contemporary Mediterranean styled estate boasts of a panoramic view of the pacific ocean, Catalina Island and City Lights.  This property consists of 3 bedrooms, 3.5 baths, 3,166 square feet of living area, a 3 car garage and is situated on a spacious 17,500 square foot lot. 

This estate property is located on Sea Island Dr. and the current asking price is $3,750,000 (subject to change).  This luxurious home was completely remodeled.  Each of the 3 bedrooms have a private bath plus a bonus rm. Spacious open floor plan, with generous use of natural stone and custom cabinetry throughout. Custom African mahogany garage doors and front gates adding immense curb appeal.

Monarch Beach is a prestigious enclave of expensive homes and condominiums located in northern coastal region of Dana Point, CA.   There are currently 62 detached homes for sale in Monarch Beach ranging in price from $720,000 fora 3 bedroom, 3 bath, 1,544 patio home, up to $11,000,000 for a 4 bedroom, 4.5 bath, 3,701 square foot estate.  the median priced home is $1,695,000 and the average price of these 62 homes is $2,130,531.

Monarch Beach is known  for  the 5 star  resorts of the St. Regis and Ritz Carlton.  Monarch Beach also boasts of one of the most beautiful beaches in southern California called Salt Creek Beach.  Dana Point has some of the best climate in the nation, with average summer temperatures from 60 degrees F to 80 degrees F, and Winter temperatures of 45 degrees F to 70 degress F, and lots of sunshine.

To view all luxury properties currently listed for sale, please visit our website at:  Dana Point Real Estate.