Sweet Orange » high-end http://www.sweetorangehousing.com Is the Orange County housing juice worth the squeeze? Tue, 07 Feb 2012 07:37:49 +0000 http://wordpress.org/?v=2.7.1 en hourly 1 Foreclosure Increasing by Over 50% in Some Orange County Cities–Mostly In High-End ZIPs http://www.sweetorangehousing.com/2009/08/05/foreclosure-increasing-by-over-50-in-some-orange-county-cities/ http://www.sweetorangehousing.com/2009/08/05/foreclosure-increasing-by-over-50-in-some-orange-county-cities/#comments Wed, 05 Aug 2009 09:21:26 +0000 Sylvia Walker http://www.sweetorangehousing.com/?p=7984 auction-handAccording to an article in The Orange County Register by Matthew Padilla, the percentage of foreclosures increased 50% or more in the following Orange County ZIP codes: 90740 (Seal Beach), 92823 (Brea), 92604 (Irvine-Woodbridge), 92625 (Corona del Mar), 92651 (Laguna Beach), 92629 (Dana Point), 92679 (Trabuco Canyon).

However, this does not mean that these ZIPs have the highest number of foreclosures when compared to the number of homes in each of these Orange County ZIPS–only that they are seeing the biggest increase in the number of foreclosure when compared to the same period one year ago.

According to Trulia, the percentage of home on the market in each of these ZIPs that are distressed sales is as shown below. Trulia defines distressed as “homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process.”

90740 (Seal Beach)

  • Median sold price: $710,000 (however, the average list price is $406,381)
  • 334 new and resell homes listed
  • 35 distressed properties
  • % distressed properties: 9.5%

92823 (Brea)

  • Median sold price: $569,000 (however, the average list price is $742,482)
  • 34 new and resell homes listed
  • 19 distressed properties
  • % distressed properties: 36%

92604 (Irvine, Woodbridge)

  • Median sold price: $494,500 (however, the average list price is $580,821)
  • 85 new and resell homes listed
  • 112 distressed properties
  • % distressed properties: 57%

92625 (Corona del Mar)

  • Median sold price:$1,260,000 (however, the average list price is $2,781,408)
  • 246 new and resell homes listed
  • 54 distressed properties
  • % distressed properties: 18%

92651 (Laguna Beach)

  • Median sold price:$1,100,000 (however, the average list price is $3,746,754)
  • 515 new and resell homes listed
  • 111 distressed properties
  • % distressed properties: 17.7%

92629 (Dana Point)

  • Median sold price:$650,000 (however, the average list price is $1,693,055 )
  • 299 new and resell homes listed
  • 163 distressed properties
  • % distressed properties: 35.3%

92679 (Trabuco Canyon, Dove Canyon, Coto de Caza)

  • Median sold price:$640,000 (however, the average list price is $1,648,131)
  • 324 new and resell homes listed
  • 256 distressed properties
  • % distressed properties: 44%

While they did not have as large a percentage increase as the ZIPs listed above, the following ZIPS also had an increase in the percentage of foreclosures (1%-49%):

  • 90623 (La Palma)
  • 92649 (Huntington Beach)
  • 92886 (Yorba Linda)
  • 92614 (Irvine, Woodbridge)
  • 92692 (Mission Viejo)
  • 92673 (San Clemente)
  • 92672 (San Clemente)

In all  other Orange County ZIPs (those not listed in this post), the percentage of foreclosures decreased when compared to a year ago (June 2008). Again, this does not mean that these ZIPs had the smallest percentage of foreclosure–only the smallest increase from the previous year.

Note: Different groups use different inputs and, therefore, come up with different percentages. For example, in June, Steve Thomas of Altera stated that Irvine had 29.6% distressed homes on the market. However, Trulia numbers at that time showed that Irvine had 41% distressed homes on the market.

Tomorrow: a look at the O.C. ZIPs in which the increase in foreclosures decreased by 60% or more from the previous year. Hint: They are mostly at the lower-end of the market.

]]> http://www.sweetorangehousing.com/2009/08/05/foreclosure-increasing-by-over-50-in-some-orange-county-cities/feed/ Is the High-End of the O.C. Housing Market About to Take a Dive? http://www.sweetorangehousing.com/2009/05/25/is-the-high-end-of-the-oc-housing-market-about-to-take-a-dive/ http://www.sweetorangehousing.com/2009/05/25/is-the-high-end-of-the-oc-housing-market-about-to-take-a-dive/#comments Mon, 25 May 2009 08:04:16 +0000 Sylvia Walker http://www.sweetorangehousing.com/?p=5222 Recently, I wrote that the Altos Market Action Index is showing Costa Mesa has a healthier housing market than Irvine does. This was something to note since this has not been the case for some time.

So I was wondering what the Altos Research indexes might tell us about the high-end of the Orange County housing market. Here is what I found out. Remember above 30 is a sellers’ market, and below 30 is a buyers’ market. For comparison, Irvine is divercurrently 15.97, and Costa Mesa is currently 16.29.

Altos Market Action Indexes

Now compare those numbers to the number for the often disparaged Santa Ana housing market, which currently has an Altos index of 18.48. By these numbers, Santa Ana housing is still a buyers’ market but is in better condition than many high-end areas as well as in better condition than Costa Mesa and Irvine’s housing market.

Santa Ana to high-priced home areas: Come in; the water is, well….

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