the GREEN sheet | Nov-Dec 2022

IT'S ALL ABOUT CHANGE

A lot has changed in Talega’s real estate market since the year began, and more is on the way as we head towards the end of 2022. We moved from the hottest market in the community’s history to a very unpredictable one. I was reading a report that Orange County’s housing inventory is up 79% over last year. It’s hard to believe this figure when there are very few homes on the market and buyers are struggling to find the right property to purchase.

Currently in Talega, we have 18 active listings that include 7 attached homes and 11 single-family homes. There are only two homes under $2.28 million—the lack of choice is unbelievable when considering demand has dropped dramatically. To put things into perspective, last year at this time there were only two active listings in all of Talega. When you look at percentages, it seems dramatic, but we only went from two to 18 listings year over year. In past years when Talega had a balanced market, we had 45 to 65 active listings available. Today’s low inventory is helping stabilize pricing and is keeping it from falling precipitously due to low demand. In past years, demand drops, inventory balloons and prices fall. However, the majority of owners today have a mortgage rate under 3.5% or own their home outright and have lots of equity. They can weather a storm comfortably so there is no panic in this market. Therefore, with few homes coming to market, the lack of competition equals firmer pricing from sellers. Expect this trend to continue through the first quarter of 2023.

Echelberger Group provides the expertise and resources necessary to make it easier for its clients. More than 20 years of experience in Talega and 52 years living in San Clemente, Doug and his team have an 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. For more information, visit www.echelberger.com or call/text Doug at 949-463-0400.

FEATURED RESIDENCE

18 Via Alcamo

Ocean and Valley Views

Experience the very finest of Talega as this custom-caliber estate-style home in the scenic coastal hills of San Clemente. Positioned near the highest point of Talega in the exclusive Alta enclave, the beautifully upgraded residence offers panoramic ocean, valley, hill and city-light views from indoor and outdoor living areas. Approximately 9,610 sqft, the home’s oversized lot is located on a coveted single-loaded cul-de-sac street and features a gated entry courtyard with a majestic shade tree, a private side courtyard, and BBQ and a tranquil backyard with a Pebble Tec pool and spa. Custom hardscaping, stone decking and bubbling fountains lend a serene vibe that is appreciated when relaxing and entertaining. A rotunda foyer welcomes all into a light-filled residence of approximately 4,850 sqft that hosts a living room with fireplace, and a formal dining room with built-in buffet and French doors that open to both courtyards. Warmed by a fireplace, the great room flows to a gourmet kitchen that presents a large island with bar seating, handsome wood cabinetry, a breakfast nook with loggia access, a full tile backsplash, and high-end stainless-steel appliances from Thermador, including double ovens, a six-burner range with griddle, and a built-in refrigerator. Five ensuite bedrooms and 5.5 baths include a main-level primary suite with dual walk-in closets, a retreat with built-in desks, separate vanities, a soaking tub and a sumptuous shower. A versatile game/bonus room opens to a sunny view deck and boasts a secondary kitchen and built-in entertainment center, making it ideal for memorable movie nights with friends and neighbors. Attention is lavished on every detail throughout the home, including Venetian plaster accent walls, brick accent walls, custom window treatments, surround sound, 12" base molding, custom closets in all bedrooms, and slate, wood and Berber flooring.

10 AVENIDA CRISTAL SOLD IN 13 DAYS

16 CALLE FRUTAS JUST SOLD

active 1 | 38 Via Alcamo Alta

$3,795,000 6 6.5 5,356 2 | 18 Via Alcamo Alta $3,398,000 5 5.5 4,850 3 | 20 Corte Jaime Ravenna $2,595,000 4 4.5 2,627 4 | 26 Calle Akelia Sabella $1,295,000 4 2.5 2,342

in escrow 5 | 32 Via Armilla Vittoria $1,595,000 4 2.5 2,857 6 | 40 Avenida Cristal Carmel $1,250,000 3 2 2,066

26 Calle Gaulteria Mirador $3,250,000 6 6.5 5,025 * 12 Corte Vizcaya Vizcaya $3,000,000 5 5.5 5,539 * 12 Calle Gaulteria Mirador $2,815,000 5 5.5 4,631 ** 36 Via Belleza Miraleste $1,905,000 5 3 2,992 * 9 Calle Pacifica Pacifica Summit $1,825,000 5 3.5 3,601 * 13 Via Jacobea Catania $1,723,500 4 3 2,941 * 308 Via Los Tilos San Rafael $1,635,000 5 4.5 3,536 * 306 Plaza Cabana Terra Linda $1,600,000 6 3 2,867 *** 16 Calle Frutas Escala $1,325,000 3 2.5 2,342* 10 Avenida Cristal Carmel $1,079,700 3 2 2,066 * 22 Corte Loarre Verano $1,015,000 3 2.5 1,840 * 1 Camino Platino Carmel $970,000 3 2 2,050 *** 12 Calle Merecida Carmel $960,000 3 3 2,560 *** 24 Paseo Verde Santalana $885,000 3 2.5 1,634 *** 26 Paseo Luna Alassio $785,000 3 2.5 1,668 * 300 Calle Campanero Alassio $743,000 3 3.5 1,484 * 205 Calle Campanero Alassio $710,000 2 2.5 1,468 * 4 Paseo Del Rey Alassio $704,000 2 2.5 1,232 ***

from talega's

ECHELBERGER 949.498.7711 | doug@echelberger.com

respect your time, and

We know you could go anywhere for

real estate needs, and appreciate having the opportunity to serve

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

YOUR TALEGA MARKET REPORT FOR HOME VALUES IN OCTOBER

TOWNHOMES

TRACT/STREET

Alassio

302 Calle Campanero Active $769,900 $524 1,468 3/3 2 (A)

2 Paseo Rosa Active $749,900 $504 1,487 2/2 2 (B)

106 Calle Campanero SOLD $790,000 $474 1,668 3/3 2 8/22/22

8 Paseo Rosa SOLD $775,000 $528 1,468 3/3 2 10/5/22

Carmel

40 Avenida Cristal Active $1,250,000 $605 2,066 3/2 2 (C)

12 Calle Merecida SOLD $960,000 $375 2,560 3/3 2 10/13/22

Santalana

162 Paseo Vista Pending $940,000 $529 1,776 3/3 2 (D) 90 Paseo Vista SOLD $850,000 $486 1,748 3/3 2 8/15/22

Trinidad

18 Calle Viveza Active $899,900 $560 1,606 3/3 2 (E)

29 Calle Viveza Active $750,000 $540 1,388 2/2 2 (F)

27 Avenida Brio Active $719,000 $518 1,388 2/2 2 (C)

Verano

22 Corte Loarre Active $1,049,000 $570 1,840 3/3 2 (G) 25 Corte Javier Pending $924,000 $502 1,840 3/3 2 (H) 75 Via Cartaya SOLD $920,000 $489 1,881 3/3 2 8/16/22 21 Corte Garrucha SOLD $905,000 $481 1,881 3/3 2 -- 8/23/22

"This is my third transaction with Echelberger Real Estate Group. Doug and Ken have helped me purchase two homes and sell our primary residence. The Echelberger group is the best real estate company I have ever dealt with. Very professional, experienced and helpful agents and brokers. Highly recommend...” - Chad M.

HOMES

Alora No Activity

Alta

38 Via Alcamo Active $3,795,000 $709 5,356 6/7 2 10,628 (A)

18 Via Alcamo Active $3,398,000 $701 4,850 5/6 4 9,610 (A) 47 Via Alcamo Active $2,880,000 $538 5,356 6/7 2 9,237 (B) 12 Via Alcamo Pending $3,650,000 $688 5,303 5/6 3 11,690 (A)

Amalfi No Activity

Bella Vista No Activity

Cantabria

24 Corte Vizcaya Active $3,795,000 $674 5,633 5/6 3 20,585 (C)

Caprizi

12 Via Balcon SOLD $1,700,000 $689 2,469 4/3 2 6,754 9/2/22

Careyes

No Activity

Carillon No Activity

Catania

30 Via Jacobea Active $2,288,000 $609 3,756 5/5 2 8,800 (D)

Cazadero

36 Calle Loyola Active $2,299,000 $563 4,082 5/5 3 8,795 (E) 32 Corte El Brazo Pending $2,399,000 $588 4,082 5/5 3 6,996 (F) 41 Calle Loyola SOLD $1,900,000 $494 3,849 5/5 3 6,086 10/15/22

Escala 16 Calle Frutas SOLD $1,325,000 $566 2,342 3/3 2 3,964 9/26/22

Farralon Ridge

No Activity

YOUR TALEGA MARKET REPORT FOR HOME VALUES IN OCTOBER

SINGLE-FAMILY HOMES

Lucia No Activity Mirador

44 Via Divertirse Active $2,775,000 $590 4,706 5/6 4 9,676 (A)

Miraleste No Activity Montellano No Activity Monterey No Activity

Pacifica Summit

17 Calle Pacifica SOLD $2,375,000 $548 4,333 5/5 3 9,316 8/29/22 16 Calle Anacapa SOLD $1,975,000 $736 2,685 3/3 3 13,129 9/13/22

Pacifica Talega No Activity

Portofino No Activity

Portomarin 38 Via Regalo Pending $1,399,888 $469 2,987 5/3 2 5,489 (B) 65 Via Regalo SOLD $1,710,000 $560 3,054 5/3 2 5,915 9/2/22

Ravenna

20 Corte Jaime Active $2,595,000 $581 4,468 4/5 3 6,298 (C) 25 Via Nerisa Pending $2,295,000 $529 4,335 4/5 3 10,252 (D)

SINGLE-FAMILY HOMES

TRACT/STREET

Sabella No Activity

San Lucar

19 Via Destino Pending $1,499,000 $476 3,147 4/4 3 6,520 (A)

San Rafael

511 Via El Risco SOLD $1,850,000 $525 3,524 4/4 3 5,916 9/13/22

Sansol No Activity

Seaside

26 Calle Almeja SOLD $1,575,000 $534 2,950 5/4 2 5,229 8/29/22

Solana

25 Camino Azulejo Active $1,230,000 $728 1,690 3/33 2 5,946 (B)

Stella Mare

40 Via Timon Pending $1,690,000 $489 3,453 4/4 2 7,154 (C) 29 Via Jubilar SOLD $2,300,000 $617 3,729 5/5 3 8,610 9/6/22

19 Via Jubilar SOLD $1,842,400 $534 3,453 4/4 2 5,692 8/18/22

Terra Linda

102 Via Malaga Active $1,799,000 $666 2,702 5/3 3 8,765 (D) 102 Plaza Via Sol Pending $1,499,999 $519 2,888 4/3 3 10,026 (E) 100 Plaza Via Sol SOLD $1,900,000 $641 2,963 6/3 2 5,898 10/17/22

Vittoria

32 Via Armilla Active $1,595,000 $558 2,857 4/3 3 6,164 (F)

12 Via Armilla SOLD $1,525,000 $534 2,857 4/3 3 6,459 8/18/22

12 Via Gador SOLD $1,500,000 $467 3,211 5/4 2 7,040 9/8/22

Vizcaya No Activity

SENIOR 55 & OLDER

Sandbridge

31 Camino Lienzo SOLD $1,800,000 $634 2,841 2/2 2 6,411 8/29/22

Seagarden

No activity

Waterleaf

1 Camino Alenza Pending $1,355,000 $659 2,055 2/2 2 5,199 (A)

2 Camino Botero SOLD $1,600,000 $626 2,554 3/2 2 7,716 9/16/22 40 Camino Del Prado SOLD $1,548,800 $606 2,554 2/2 2 8,962 10/14/22

1 Corte Pinturas SOLD $999,999 $655 1,526 2/2 2 5,200 9/21/22

Wavecrest

No activity Single Family

DOM List $ PSF Sold Price Sold $ PSF COMING SOON (0) - - -ACTIVE (11) $2,586,273 4,132 41 $629 PENDING SALE (8) $1,798,806 3,377 77 $606 SOLD (17) $1,764,035 2,994 32 $589 $1,730,953 $578 Condo/Townhouse

SqFt DOM List $ PSF

Sold $ PSF COMING SOON (0) - - -ACTIVE (7) $883,957 1,606 36 $546 PENDING SALE (2) $932,000 1,808 56 $516 SOLD (6) $885,000 1,868 18 $474 $866,667 $464 *Approximate

The Green Sheet is based on information from the Association of REALTORS®/Multiple Listing Service as of 10.26.22 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 before 8.1.2022 have been eliminated. If you would like the name, address, and phone number of the firm representing a specific property listed above, please email info@echelberger.com.

YOUR TALEGA MARKET REPORT FOR HOME VALUES IN OCTOBER

ORANGE COUNTY MARKET SUMMARY

• The active listing inventory in the past couple of weeks increased by 21 homes, up 1%, and now sits at 3,677. In September, there were 24% fewer homes that came on the market compared to the 3-year average prior to COVID (2017 to 2019), 728 less. Last year, there were 1,864 homes on the market, 1,813 fewer homes, or 49% less. The 3-year average prior to COVID (2017 to 2019) was 6,010, or 63% more.

• Demand, the number of pending sales over the prior month, plunged by 157 pending sales in the past two weeks, down 11%, and now totals 1,270, its lowest reading since April 2020, the initial lockdowns of the pandemic. It is the lowest level for mid-October since 2007. Last year, there were 2,429 pending sales, 91% more than today. The 3-year average prior to COVID (2017 to 2019) was 2,180, or 72% more.

• With demand plunging, the Expected Market Time, the number of days to sell all Orange County listings at the current buying pace, increased from 77 to 87 days in the past couple of weeks, its highest level since mid-May 2020. It was 23 days last year, much stronger than today.

• For homes priced below $750,000, the Expected Market Time increased from 59 to 64 days. This range represents 21% of the active inventory and 29% of demand.

• For homes priced between $750,000 and $1 million, the Expected Market Time increased from 64 to 65 days. This range represents 22% of the active inventory and 29% of demand.

• For homes priced between $1 million to $1.25 million, the Expected Market Time increased from 71 to 82 days. This range represents 12% of the active inventory and 13% of demand.

• For homes priced between $1.25 million to $1.5 million, the Expected Market Time increased from 73 to 97 days. This range represents 11% of the active inventory and 10% of demand.

• For homes priced between $1.5 million to $2 million, the Expected Market Time increased from 93 to 131 days. This range represents 13% of the active inventory and 9% of demand.

• For homes priced between $2 million and $4 million, the Expected Market Time in the past two weeks decreased from 123 to 121 days. For homes priced between $4 million and $8 million, the Expected Market Time increased from 284 to 360 days. For homes priced above $8 million, the Expected Market Time increased from 308 to 484 days.

• The luxury end, all homes above $2 million, accounts for 21% of the inventory and 10% of demand.

• Distressed homes, both short sales and foreclosures combined, made up only 0.5% of all listings and 0.2% of demand. There are only 4 foreclosures and 2 short sales available to purchase today in all of Orange County, 6 total distressed homes on the active market, up 3 from two weeks ago. Last year there were 9 total distressed homes on the market, similar to today.

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 .

for more information on current oc housing market, visit our market reports at

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