F E B R U A R Y 2 0 1 9
t he
GREEN sheet
TA L EGA’S RED-HOT RE A L E STAT E M A R KE T
IS YOUR V IEW P R OTECTE D? Beautiful views are often a top priority when searching for a new home, and they typically come at a premium price. But does that mean you will be able to enjoy it forever? Or could you lose your grand ocean, mountain and city-light vistas? All of us at Echelberger Group are asked this question, so we turned to our expert, Scott Souders, a real estate attorney who has practiced real estate law for more than 42 years in Southern California. Here is important insight from Scott: I have received many phone calls over the years from homeowners who want to sue their neighbors, the city, or their HOA because they have “lost their view” due to construction on a neighboring lot or the neighbor’s trees have grown like weeds. Almost without question, the homeowner feels strongly that they paid for this view and it’s protected under California law. Obviously views come with a price, particularly along the coast here in Orange County. Even non-coastal properties are promoted as having panoramic views of mountains or city lights with the expectation that the views will cause a buyer to pay more money for the property. So, are all view rights protected in California? The answer to that question is yes if you happen to live in one of the handful of cities that have adopted view ordinances. The cities that I am aware of, which may not be exhaustive because I don’t track all of the cities that have view and/or tree ordinances, are Laguna Beach, Del Mar, Rancho Palos Verdes and Orinda. If you live in one of those cities you can most probably file an action in court or petition the city to have your views maintained and/or restored as a result of a neighbor’s wrongful action. If you live in an HOA your CC&Rs may provide for view protection if the view obstruction is within your community only. Now for those who don’t live in HOAs that have CC&Rs that provide for view protection or within one of the cities mentioned above, what are your options if someone attempts to impair your view? The answer is there may not be much you can do and you could be wasting money by starting a legal fight that you can’t finish successfully. Here’s why: Just because you have someone blocking your view doesn’t necessarily constitute a nuisance. For instance, a homeowner in Lake Tahoe sued his neighbor claiming that the neighbor’s new deck obstructed his views. The homeowner lost. The holding of the case was that a landowner has no natural right to air, light or an unobstructed view and the law is reluctant to imply such right. See Posey vs. Leavitt 229 Cal App 3rd 1236, 1240.
Just because the neighbor’s view obstruction causes a loss of value to your property does not constitute a cause of action in favor of the aggrieved homeowner. It is not a nuisance according to case law. See Oliver vs. AT&T Wireless Services 76 Cal App. 4th 521, 530. In that case the aggrieved homeowner got to “enjoy” a new 130' cell tower on the adjoining property. This did not constitute a nuisance even though it substantially decreased the value of the homeowner’s property. Applying those two aforementioned cases, if the neighbor legally erects a structure that blocks your view you many have no remedy or cause of action. If the neighbor lets the trees fill in and grow, again, you may not have a case unless the neighbor is violating any city tree-view ordinance or the CC&Rs of an HOA. Likewise, you can’t claim inverse condemnation against a city that planted large redwood trees in a nearby park, thereby impairing the view from the your backyard. In the case of Boxer vs. City of Beverly Hills 246 Cal App. 4th 1212, the homeowner claimed inverse condemnation because his views were negatively effected. Therefore, the value of his property tanked. The homeowner claimed that the city owned him just compensation for the loss of the value to his property. The court of appeal said no. There was no physical invasion or physical damage to the homeowner’s property. Nothing was taken per the California Constitution. Diminution of the value of the home without more does not constitute a compensable taking. In conclusion, before you shell out big bucks to buy into that perpetual view, know your rights per your city and HOA. To be extra sure, it’s best to ask an attorney. If for any reason you wish to review a law update for a case that has previously been cited, law updates for the past year are on Scott’s personal website, www.ScottSouders.com. We truly appreciate Scott’s help in answering these often perplexing questions about view rights. It is professionals like Scott that help Doug Echelberger and his team provide the expertise and resources necessary to make it easier for their clients. More than 25 years of experience has given Echelberger Group the edge in local knowledge and connections. Echelberger Group provides a comprehensive range of services, from industry-leading technology—backed by its partnership with Pacific Sotheby’s International Realty—and custom marketing strategies to regular updates and prompt communication that makes transactions efficient and stress-free.
artfully uniting extraordinary homes with extraordinary lives®: we believe luxury is an experience, not a price point We respect your time, and value your business. We know you could go anywhere for your real estate needs, and appreciate having the opportunity to serve you the best way we can. For more information, or to be the first to learn about pocket listings, open houses, market reports, and local events visit us online or call 949.498.7711.
F E AT U R E D R E S I D E N C E 21 Paseo Carla
Beautifully Enhanced
4 bed | 3 bath | 2,583 sq ft | 6,340 sq ft lot
This beautifully enhanced home at Caprizi in San Clemente’s prestigious Talega community is fully upgraded inside and out and ready for fast move-in. A private backyard with
tropical landscaping, saltwater pool, spa, fire pit, covered patio and custom BBQ island with seating provide the soothing ambiance of an island oasis. Extending approximately 2,583 square feet, the elegant two-level home greets visitors with a formal living and dining area that leads to a casual and open kitchen and family room. A fireplace, built-in cabinetry and surround sound enrich the family room, and the gourmet kitchen showcases an island with seating, nook with French doors to A main-floor bedroom and adjacent bath with shower seat and grab bars generously accommodate in-laws and guests. Upstairs awaits an airy loft with built-in desk and cabinetry. Personal luxury is the hallmark of the distinctive master suite, which presents a spacious view deck, walk-in closet with mirrored door, a built-in dresser, dual sinks, a shower with seat and a separate soaking tub. Custom appointments include dark hardwood floors, stone tile flooring, carpet, plantation shutters throughout, built-ins, audio wiring and designer paint. A two-car garage is featured, and grounds measuring about 6,340 square feet include extra guest parking in the driveway. w w w .21P a s e o C a r l a . c o m
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the backyard, a pantry, white cabinetry, granite countertops, stone tile backsplash, and stainless-steel KitchenAid appliances.
TA L E G A R E S I D E N C E S
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Re pres e nte d by Dou g Ec h e l b e rge r
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ADDRESS TRACT PRICE BED BATH SQFT 1| 2| 3| 4| 5| 6| 7|
in escrow
8| 9| 10| 11|
sold 2019
9 Calle Careyes Careyes 30 Calle Aveituna Mirador 412 Camino Vista Verde Pacifica Talega 14 Via Gador Vittoria 14 Via Paquete Miraleste 21 Paseo Carla Caprizi 2 Via Santander Amalfi
$1,695,000 $1,649,000 $1,249,000 $1,249,000 $1,069,000 $1,049,000 $819,000
4 6 4 4 4 4 3
4.5 6.5 4 3 3 3 2.5
4,689 5,202 4,066 3,209 3,015 2,583 2,237
45 Calle Careyes 45 Via Torina 1 Calle Careyes 13 Via Abajar
Careyes Carillon Careyes San Lucar
$1,995,000 $1,795,000 $1,675,000 $899,000
5 5 5 4
5.5 6 5.5 3
4,689 4,130 5,367 2,512
31 Via Buen Corazon 60 Paseo Vista
Cazadero Santalana
$1,250,000 $604,900
5 3
4.5 2.5
3,849 1,748
EXPERIENCE and KNOWLEDGE makes a significant difference when it comes to SELLING and BUYING a home in TALEGA. Call or email DOUG ECHELBERGER your TALEGA EXPERT for a COMPLIMENTARY HOME EVALUATION or visit WWW. E G ROUP VAL UE . COM !
949.498.7711 | DOUG@ECHELBERGER.COM
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act i v e
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YO U R TA L EG A M A R K E T R EP O R T F O R H O M E VA LU E S I N JA N UA R Y
TOWNHOMES
TRACT/STREET
STATUS
PRICE
PRICE/SQ FT SQ FT* BED/BATH GARAGE
LOT SIZE*
COE
Alassio Email Info@Echelberger.com
Active
$525,000
$358
1,468
3/3
2
--
Email Info@Echelberger.com
Active
$490,000
$398
1,232
2/3
2
--
Email Info@Echelberger.com
Pending
$525,000
$358
1,468
2/3
2
--
Email Info@Echelberger.com
Pending
$479,000
$389
1,232
2/3
2
--
24 Paseo Luna
SOLD
$565,000
$339
1,668
3/3
2
--
3 Paseo Verde
SOLD
$500,000
$336
1,487
2/2
2
--
305 Calle Campanero
SOLD
72 Paseo Del Rey
SOLD
12 Paseo Luna
SOLD
$505,000 $485,000 $443,000
$344 $394 $360
1,468 1,232 1,232
2/3 2/3 2/3
2 2 2
-- -- --
12/20/18 10/19/18 9/13/18
10/15/18 10/15/18
Carmel Email Info@Echelberger.com
Active
$729,000
$356
2,050
2/2
2
--
46 Avenida Cristal
SOLD
$775,000
$325
2,385
3/3
2
--
10 Camino Lozano
SOLD
$745,000
$361
2,066
3/2
2
--
12/12/18 9/27/18
Santalana 60 Paseo Vista
Pending
$614,900
$352
1,748
3/3
2
--
62 Paseo Vista
SOLD
$680,000
$348
1,952
3/3
2
--
12/27/18
Trinidad Email Info@Echelberger.com
Active
$529,000
$381
1,388
2/2
2
--
31 Calle Viveza
SOLD
$620,000
$386
1,606
3/3
2
--
4 Calle Centello
SOLD
$513,000
$366
1,402
2/2
2
--
3 Calle Centello
SOLD
27 Avenida Brio
SOLD
$529,000 $490,000
$381 $353
1,388 1,388
2/2 2/2
2 2
9/24/18
--
12/11/18
--
12/28/18
10/31/18
Verano Email Info@Echelberger.com
Active
$664,888
$353
1,881
3/3
2
--
Email Info@Echelberger.com
Active
$499,000
$369
1,351
2/2
2
--
Email Info@Echelberger.com
Pending
$709,000
$377
1,881
3/3
2
--
Email Info@Echelberger.com
Pending
$635,000
$345
1,840
3/3
2
--
15 Corte Garrucha
SOLD
$619,000
$336
1,840
3/3
2
--
10/31/18
43 Via Villena
SOLD
$505,000
$374
1,351
2/2
2
--
12/18/18
14 Via Villena
SOLD
$515,000
$381
1,351
2/2
2
--
11/30/18
5 | w ww.E che l b erg er.c o m
call us today, for a COMPLIMENTARY home evaluation from talega's most experienced real estate agent DOUG ECHELBERGER 949.498.7711 | doug@echelberger.com *Approximate
SOUNDS OF NATURE - FAMILY WALK | February 23, 2019 at 9am - 11am Enjoy a walk through oak woodlands and listen for bird songs while becoming beginner birders, learn about animal adaptations including the sounds they make and discover the history of Native American legends. Get crafty and make our own instruments from natural and recycled materials. Close your eyes and listen closely as you explore the sounds of nature! For additional information, please visit: www.RMVR eser ve.org
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YO U R TA L EG A M A R K E T R EP O R T F O R H O M E VA LU E S I N JA N UA R Y
S I N G L E - FA M I LY H O M E S TRACT/STREET
STATUS
PRICE
PRICE/SQ FT SQ FT* BED/BATH GARAGE
LOT SIZE*
COE
Alora
Email Info@Echelberger.com Active $1,799,000 $450 4,000 4/5 3 9,131 16 Via Paulina SOLD $1,678,000 $362 4,635 5/6 3 8,241 9/21/18 15 Calle Loyola SOLD $1,435,000 $351 4,094 5/6 3 6,389 10/1/18
Alta
Email Info@Echelberger.com Active $2,395,000 $441 5,436 5/6 2 9,879 Email Info@Echelberger.com Active $2,295,000 $427 5,380 5/6 3 8,388
Amalfi
Email Info@Echelberger.com Active $919,000 $373 2,463 3/3 2 4,101 2 Via Santander Active $819,000 $366 2,237 3/3 2 3,778 1 Via Zamora SOLD $875,000 $369 2,369 3/3 2 3,888 11/6/18 13 Via Oviendo SOLD $817,500 $366 2,234 4/3 2 3,808 11/1/18
Cantabria
48 Calle De La Luna Active $1,299,000 $453 2,867 3/3 3 8,821 10 Calle Celestial SOLD $1,200,000 $319 3,767 5/5 3 8,010 10/2/18 40 Calle De La Luna SOLD $1,199,000 $341 3,512 5/4 3 9,135 9/18/18
Caprizi
21 Paseo Carla Active $1,049,000 $406 2,583 4/3 2 6,340 Email Info@Echelberger.com Active $1,045,000 $431 2,427 4/3 2 5,179 17 Via Alonso SOLD $909,000 $352 2,583 4/3 2 6,011 1/14/19 18 Via Canero SOLD $838,000 $345 2,427 3/3 2 4,101 12/10/18
Careyes
45 Calle Careyes Active $1,995,000 $425 4,689 5/6 3 11,108 9 Calle Careyes Active $1,775,000 $379 4,689 4/5 3 9,235 Email Info@Echelberger.com Active $1,694,900 $345 4,918 5/6 4 11,021 1 Calle Careyes Active $1,675,000 $312 5,367 5/6 3 12,153
Carillon
Email Info@Echelberger.com Active $1,575,000 $445 3,538 5/4 2 7,332 Email Info@Echelberger.com Active $1,529,000 $388 3,942 5/6 3 6,290 45 Via Torina Pending $1,795,000 $435 4,130 5/6 3 11,192 Email Info@Echelberger.com Pending $1,699,999 $476 3,573 5/4 3 9,433 34 Via Torina SOLD $1,445,000 $382 3,786 5/5 3 6,606 11/14/18
Catania
14 Via Soria SOLD $1,188,000 $360 3,296 5/4 3 6,752 9/4/18 52 Via Cartama SOLD $1,125,000 $317 3,547 5/4 2 5,629 11/8/18 18 Via Fontibre SOLD $1,080,000 $304 3,547 5/4 2 6,360 9/7/18 Email Info@Echelberger.com 30 Corte El Brazo 31 Via Buen Corazon
Active SOLD SOLD
$1,425,000 $1,310,000 $1,250,000
$349 $340 $325
4,082 3,850 3,849
5/5 5/5 5/5
3 3 3
6,345 6,621 8,566
9/24/18 1/10/19
SIGN UP TO RECEIVE THE GREEN SHEET VIA EMAIL EVERY MONTH Email info@echelberger.com | Your Source for Everything Real Estate
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Cazadero
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YO U R TA L EG A M A R K E T R EP O R T F O R H O M E VA LU E S I N JA N UA R Y
S I N G L E - FA M I LY H O M E S TRACT/STREET
Escala
19 Via Ceramica 40 Via Ceramica
STATUS
PRICE
PRICE/SQ FT SQ FT* BED/BATH GARAGE
LOT SIZE*
COE
SOLD SOLD
$890,000 $880,000
$359 $349
2,478 2,520
4/3 4/3
2 2
5,889 6,058
10/31/18 10/9/18
Active SOLD
$859,000 $885,500
$356 $367
2,414 2,414
4/3 4/3
2 2
4,003 5,068
10/9/18
SOLD
$2,550,000
$421
6,055
5/6
4
16,415
9/24/18
Active Active Active SOLD SOLD
$1,649,000 $1,550,000 $1,549,000 $1,557,500 $1,295,000
$317 $329 $329 $331 $280
5,202 4,706 4,706 4,706 4,631
6/7 5/6 5/6 5/6 5/6
2 4 4 4 3
12,225 9,418 9,300 8,903 11,117
11/30/18 9/7/18
Active SOLD
$1,069,000 $1,050,000
$355 $315
3,015 3,338
4/3 4/4
2 3
5,040 7,775
9/17/18
Active Active SOLD
$2,075,000 $1,629,000 $1,800,000
$443 $340 $382
4,686 4,785 4,715
5/6 5/6 5/6
3 3 3
15,425 9,941 9,604
11/30/18
Active Active SOLD
$1,124,000 $1,095,000 $1,155,000
$418 $374 $338
2,692 2,931 3,415
3/3 4/3 5/4
3 2 3
6,151 7,168 7,549
9/24/18
Active Active
$1,450,000 $1,249,000
$335 $307
4,333 4,066
5/5 4/4
3 3
7,389 8,768
Active Pending SOLD SOLD
$1,150,000 $1,150,000 $1,042,000 $980,000
$358 $378 $345 $366
3,213 3,042 3,024 2,675
6/3 5/4 4/4 4/3
2 2 2 2
10,360 8,394 6,312 7,007
11/13/18 9/27/18
SOLD
$1,050,000
$338
3,108
5/3
2
5,318
9/27/18
SOLD
$1,291,875
$302
4,282
5/6
3
6,557
12/26/18
Farralon Ridge Email Info@Echelberger.com 477 Camino Flora Vista
Lucia
20 Via Conocido
Mirador 30 Calle Aveituna Email Info@Echelberger.com Email Info@Echelberger.com 19 Calle Gaulteria 21 Calle Aveituna
Miraleste 14 Via Paquete 28 Via Belleza
Montellano Email Info@Echelberger.com Email Info@Echelberger.com 64 Calle Vista Del Sol
Monterey
Email Info@Echelberger.com Email Info@Echelberger.com 116 Via Plumosa
Pacifica Talega Email Info@Echelberger.com 412 Camino Vista Verde
Portofino Email Info@Echelberger.com Email Info@Echelberger.com 11 Calle Alumbrado 30 Calle Portofino
Portomarin 7 | w w w.E c he l berger. co m
64 Via Regalo
Ravenna
29 Via Nerisa
SAN CLEMENTE FUN FACT
1937 – Capitol Company reinvests in San Clemente adding the Casino and Miramar Theater. 1950s – Trestles and Cotton’s becomes one of the best surf breaks in California For more fun facts, visit: www.SanClementeHistoricalSociety.org
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YO U R TA L EG A M A R K E T R EP O R T F O R H O M E VA LU E S I N JA N UA R Y
S I N G L E - FA M I LY H O M E S TRACT/STREET
STATUS
PRICE
PRICE/SQ FT SQ FT* BED/BATH GARAGE
LOT SIZE*
COE
Sabella Email Info@Echelberger.com
Active
$859,000
$327
2,627
4/3
2
3,840
20 Via Cuenta Nueva
SOLD
$899,000
$382
2,351
4/3
2
9,074
9/25/18
San Lucar 13 Via Abajar
Pending
$899,000
$358
2,512
4/3
2
4,758
3 Via Abajar
SOLD
$893,000
$341
2,615
4/3
2
5,000
Pending
$1,149,900
$337
3,414
4/4
3
11,934
Pending
$1,080,000
$323
3,340
4/3
3
7,248
33 Corte Vidriosa
SOLD
$1,162,500
$316
3,677
4/3
2
14,274
1/4/19
19 Calle Saltamontes
SOLD
$962,500
$314
3,069
4/3
2
5,369
12/26/18
SOLD
$900,000
$341
2,641
5/3
2
5,180
9/25/18
Email Info@Echelberger.com
Active
$899,000
$389
2,313
4/4
2
3,467
Email Info@Echelberger.com
Active
$849,000
$369
2,300
4/3
2
3,500
3 Calle Boveda
SOLD
$770,000
$428
1,800
3/3
2
4,378
10/4/18
26 Camino Silla
SOLD
$725,000
$316
2,294
4/3
2
3,850
10/30/18
36 Via Andaremos
SOLD
$1,350,000
$355
3,806
5/5
2
9,816
9/25/18
91 Via Regalo
SOLD
$1,240,000
$318
3,900
5/5
2
6,476
12/20/18
84 Via Regalo
SOLD
$1,125,000
$326
3,453
4/4
2
6,699
11/12/18
207 Via Malaga
SOLD
$1,070,000
$371
2,888
5/3
3
8,093
10/1/18
201 Calle Botanico
SOLD
$1,065,900
$338
3,153
5/3
2
6,741
12/4/18
200 Plaza Los Corales
SOLD
$915,000
$367
2,492
4/3
3
10,849
12/14/18
Active
$1,249,000
$389
3,209
4/3
2
14,611
10/10/18
San Rafael Email Info@Echelberger.com
Sansol Email Info@Echelberger.com
Seaside 24 Calle Pelicano
Solana
Stella Mare
Vittoria 14 Via Gador
SIGN UP TO RECEIVE THE GREEN SHEET VIA EMAIL EVERY MONTH Email info@echelberger.com | Your Source for Everything Real Estate
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Terra Linda
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YO U R TA L EG A M A R K E T R EP O R T F O R H O M E VA LU E S I N JA N UA R Y
SENIOR 55 & OLDER TRACT/STREET
STATUS
PRICE
PRICE/SQ FT SQ FT* BED/BATH GARAGE
LOT SIZE*
COE
Sandbridge Email Info@Echelberger.com
Active
$1,299,000
$457
2,841
3/2
2
5,868
Email Info@Echelberger.com
Active
$1,150,000
$405
2,841
2/2
2
6,257
5 Camino Lienzo
SOLD
$1,350,000
$500
2,699
2/2
2
5,955
10/24/18
19 Camino Lienzo
SOLD
$1,250,000
$463
2,699
2/2
2
7,540
9/7/18
Active
$779,900
$399
1,957
3/2
2
Pending
$895,000
$436
2,055
2/2
2
4,721
SOLD
$910,000
$420
2,166
2/2
2
6,403
Pending
$749,000
$428
1,752
2/2
2
4,545
Seagarden Email Info@Echelberger.com
Waterleaf Email Info@Echelberger.com 16 Calle Galeria
11/28/18
Waveccrest Email Info@Echelberger.com
whether you’re moving closer to your family or closer to relaxation, an sres designee will take the extra time to find you the home of your dreams.
our seniors real estate specialist (sres) have unique training and experience in helping seniors buy and sell real estate. call us today, for a complimentary home evaluation, we are a professional real estate team with a personal touch. 949.498.7711 | seniors@echelberger.com
9 | w w w.E c he l berger. co m
Talega Averages Single Family ACTIVE (33) PENDING SALE (8) SOLD (43)
List Price $1,395,209 $1,177,238 $1,170,953
SqFt DOM List $ PSF 3,682 84 $379 2,978 81 $397 3,269 50 $358
Sold Price
Sold $ PSF
$1,148,006
$351
Condo/Townhouse ACTIVE (7) PENDING SALE (3) SOLD (15)
List Price $602,398 $563,000 $575,793
SqFt DOM List $ PSF 1,618 77 $372 1,698 50 $362 1,588 47 $363
Sold Price $565,933
Sold $ PSF $356
*Approximate The Green Sheet is based on information from the Association of REALTORSÂŽ/Multiple Listing Service as of 1.16.2019 and/or other sources. The Talega Green Sheet and MLS data is deemed reliable, but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. The properties listed above are not all Pacific Sotheby's International Realty and include listings from other brokers. If you notice any incorrect information or a property that is not listed, please call my office immediately at 949.498.7711. To preserve space, old sales since 8.31.2018 have been eliminated. If you would like the name, address, and phone number of the firm representing a specific property listed above, please visit www.TalegaGreenSheet.com.
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YO U R TA L EG A M A R K E T R EP O R T F O R H O M E VA LU E S I N JA N UA R Y
ORANGE COUNTY MARKET SUMMARY •
The active listing inventory increased by 82 homes in the past two weeks and by 346 homes since January 1st. It now totals 6,911. Last year, there were 3,707 homes on the market, 2,204 fewer than today. There are 59% more homes than last year.
•
In 2018, 11% fewer homes came on the market below $500,000 compared to 2017, and there were 26% fewer closed sales. Fewer and fewer homes, and condominiums, are now priced below $500,000. This price range is slowly vanishing.
•
Demand, the number of pending sales over the prior month, decreased in the past two-weeks by 138 pending sales and now totals 1,165, its lowest level since 2008. Last year, there were 1,447 pending sales, 24% more than today.
•
The Expected Market Time for all of Orange County increased from 134 days two weeks ago to 152 days today, a Buyer’s Market and the highest level since January 2011. It was at 77 days last year.
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For homes priced below $750,000, the market is a Balanced Market (between 90 and 120 days) with an expected market time of 107 days. This range represents 43% of the active inventory and 61% of demand.
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For homes priced between $750,000 and $1 million, the expected market time is 144 days, a slight Buyer’s Market. This range represents 18% of the active inventory and 19% of demand.
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For luxury homes priced between $1 million to $1.25 million, the expected market time is 176 days, a Buyer’s Market.
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For luxury homes priced between $1.25 million and $1.5 million, in the past two weeks, the expected market time increased from 211 to 252 days.
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For luxury homes priced between $1.5 million and $2 million, the expected market time increased from 245 to 365 days.
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For luxury homes priced between $2 million and $4 million, the expected market time increased from 329 to 347 days.
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For luxury homes priced above $4 million, the expected market time increased from 941 to 1,279 days.
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The luxury end, all homes above $1.25 million, accounts for 31% of the inventory and only 13% of demand.
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Distressed homes, both short sales and foreclosures combined, made up only 1.1% of all listings and 2.3% of demand. There are only 24 foreclosures and 43 short sales available to purchase today in all of Orange County, 67 total distressed homes on the active market, up two from two-weeks ago. Last year there were 50 total distressed homes on the market, slightly less than today. There were 1,789 closed residential resales in December, 21% fewer than December 2017’s 2,269. December marked a 12% drop over November 2018. The sales to list price ratio was 96.3% for all of Orange County. Foreclosures accounted for just 0.4% of all closed sales, and short sales accounted for 0.7%. That means that 98.9% of all sales were good ol’ fashioned sellers with equity.
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