the GREEN sheet | September 2018

S E P T E M B E R 2 0 1 8

t he

GREEN sheet

TA L EGA’S RED-HOT RE A L E STAT E M A R KE T

IS IT A D E M A ND P R O BLE M? ECHEL BERGER G R O U P H A S S OM E A NSW E R S While still remarkably strong, Orange County’s housing market is experiencing a dip in demand. We asked our market guru, Steven Thomas, for some answers. Steven provides our monthly Orange County Housing Report and informed us that demand was 20% higher last year and 23% higher two years ago at this time. Here’s what Steven has to say: For years now, it’s been a fact that there have not been enough homes on the market. The storyline has been the same year in and year out—with only a trickle of homes coming on the market, buyers have been tripping over themselves to purchase them. Realtors are now accustomed to welcoming as many as 100 or more potential buyers during an open house, with multiple offers now the norm.

Quite simply, not enough homeowners have been entering the real estate arena since 2012. It has been a hot seller’s market ever since.

Unfortunately, everybody has become used to the market lining up heavily in the seller’s favor, and it has their expectations out of whack.

Suddenly, in 2018, the market evolved. The year started like every other year, with not enough homes on the market. Then the inventory climbed at a rapid pace during the spring and summer markets—the fastest since 2008. The active inventory has more than doubled this year and sits at 6,893 homes today, but it is still shy of the long-term average of 8,000 homes. Nonetheless, the market was redefining itself. The supply problem morphed into a demand problem.

As the inventory was increasing rapidly in the spring, the number of pending sales was subdued. Demand was slightly off from the very beginning of the year. It slowed further in February, but did not really become apparent until April when the year-over-year difference widened. At that point, realtors in the trenches and sellers began to feel a noticeable shift in the market. The “normal” market that everybody had been used to, with a steady stream of buyers, multiple instantaneous offers, and sellers wondering if they had underpriced their homes even though they had achieved a record sales price for the neighborhood, was quickly vanishing.

Even though we are accustomed to a hot seller’s market, it is NOT a normal market. Today, we are experiencing a normal market, also referred to as a Balanced Market—one that does not favor

sellers or buyers. Today’s market is a market where proper pricing is fundamental in order to find success. Both buyers and sellers need to carefully approach the market. Sellers cannot stretch their asking prices, like so many do today, or they will just sit. Buyers cannot bring in low, unrealistic offers either, or they will never buy. It is not a buyer’s market. Homes will sell at their fair market values. Buyers are willing to pay very close to the last comparable sale, so sellers need to meet them there by pricing their homes appropriately.

How did we get here? Home values have increased by 80% from the lows of 2011. Appreciation has been off the charts for a very long time. The increase in values has outstripped the rise in incomes substantially. That simply cannot continue forever. Affordability has been further rocked by a healthy rise in interest rates. Today’s rate of 4.75% is a lot higher than last year’s 3.9%. With higher interest rates and home values reaching record levels, buyers are not as eager to purchase. Instead, they are carefully approaching the housing market.

It is time for everybody’s expectations to adjust. A normal housing market is here, and it looks like it’s not going to evolve further anytime soon. That means that one of four homes on the market will not find success. Sellers will have to recalibrate and often reduce their asking prices to be more in line with reality. In fact, 13% of the entire active listing inventory reduced their asking price just last week. Slowly but surely, everybody will get used to the normal, balanced market.

Those that realign their expectations today will find success.

All of us at Echelberger Group are grateful for Steven’s wisdom, insight and assistance, and we thank him for allowing us to share his article with you. We find his reports invaluable. If you would like to receive Steven’s monthly report, please email Doug Echelberger at doug@echelberger.com and we will add you to our distribution list, which includes Steven’s report, our newsletter and our pocket listings.

More than 24 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.

WE B EL I EV E LUXURY I S A N E XP E RI E NC E , NOT A P RI C E P OIN T 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 4 bed | 4.5 bath | 4,689 sq ft | 9,235 sq ft lot

Mesmerizing views of the adjacent golf course and nearby Pacific Ocean blend with fresh sea breezes to create a symphony for the senses at this luxurious Talega home. Showcasing the Plan One model, the most sought-after floorplan within the gated neighborhood of Careyes, the distinctive residence includes more than $250,000 in designer upgrades, including wood-beamed ceilings, extensive travertine tile, and custom fruit-wood stained woodwork. The generously sized two-level estate is cleverly introduced by an entry door that leads to a separate guest suite and a covered loggia with courtyard. A main entrance door awaits at the other end of the loggia and opens to a sunlit foyer that continues to a formal dining room with a barrel ceiling, stone accent walls, built-in buffet, and a 360-bottle temperature-controlled wine room. The great room has an elegant fireplace and arched picture window. This solar-powered residence proudly exhibits a kitchen with numerous assets. These include an island, granite countertops, full backsplash, butler’s pantry, walk-in pantry, prep sink, pot rack, two Bosch dishwashers, a built-in Sub-zero refrigerator, a separate wine refrigerator, Thermador warming drawer and microwave, and a professional-grade Thermador six-burner 48� range. Anderson windows and French doors are featured, plantation shutters, indoor/outdoor audio and arched passageways add style. The office on the main floor boasts built-in cabinetry and crown molding. The second-level reveals not only a library and bonus room, but full master suite with entrance vestibule. Within the master suite are the luxuries of a private deck with ocean views, an extra large walk-in closet with furniture-caliber built-ins, and a sumptuous bath with hand-crafted tile work. The third bedroom includes a unique study and two Juliet balconies that overlook a tranquil front yard with raised patio, and a stone driveway leading to a three-car garage with epoxy floor and ample storage. This spacious and preferred homesite also offers a grand courtyard with stone decking, fountain with koi pond, and a custom fireplace.

Lifelike turf saves water out back, where views enrich a shady trellis-covered patio with a built-in BBQ island and dining area. A dog run, putting green, mature plantings and a vegetable garden complete the grounds of this magnificent estate. w w w .9C a l l e C a r e y e s . c o m

2 | w w w.E c hel berger.c o m

9 Calle Careyes

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

In Escrow Sold 2018

1| 2| 3| 4| 5| 6| 7| 8|

45 Calle Careyes 14 Via Alcamo 9 Calle Careyes 30 Calle Aveituna 30 Corte El Brazo 14 Via Paquete 4 Via Jarabe 46 Avenida Cristal

Careyes Alta

Careyes Mirador Cazadero

Miraleste

Amalfi Carmel

$2,049,000 $1,878,500 $1,775,000 $1,695,000 $1,345,000 $1,100,000 $899,000 $798,000

5 5 4 6 5 4 4 3

5.5 5.5 4.5 6.5 4.5 3 2.5 3

4,689 5,136 4,689 5,202 3,850 3,015 2,369 2,385

9 | 20 Via Conocido 10 | 40 Calle De La Luna

Lucia Cantabria

$2,775,000 $1,199,000

5 5

5.5 4

6,055 3,512

Lucia Alta Alora Carillon Carillon Alora Pacifica Talega Alora Pacifica Summit Carillon Catania Pacifica Summit Miraleste Catania Sansol Caprizi San Lucar Sabella Carmel Alassio

$2,950,000 $1,970,000 $1,635,000 $1,540,000 $1,535,000 $1,525,000 $1,525,000 $1,390,000 $1,340,000 $1,250,000 $1,240,000 $1,195,000 $1,095,000 $1,050,000 $1,045,000 $939,000 $920,000 $885,000 $805,000 $495,000

5 5 6 5 4 5 5 4 5 6 5 4 5 5 4 4 5 3 3 2

5.5

5.5 6.5

4.5 3.5 5.5 4.5

4.5

4.5

6.5

4

4.5

3

4 3

3

3.5

2.5

2

2

31 Calle Viviana*** 18 Via Alcamo* 17 Calle Loyola* 17 Corte Cabrito* 27 Via Torina*** 12 Via Paulina* 422 Camino Bandera* 17 Via Lampara* 18 Calle Castillo* 20 Calle Mattis* 32 Via Jacobea* 14 Calle Castillo* 18 Via Cancion* 23 Via Jacobea** 9 Calle Saltamontes* 19 Paseo Carla* 17 Via Abajar* 33 Via Cristobal* 52 Avenida Cristal*** 29 Paseo Luna*

5,777 4,850 4,503 3,786 3,573 4,400 4,333 4,026 4,372 4,170 3,547 3,952 3,015 3,547 3,212 2,566 3,147 2,088 2,050 1,356

DOUG ECHELBERGER TALEGA’S #1 REALTOR® since 2003 with OVER $600 MILLION in SALES and 640+ TRANSACTIONS in TALEGA

experience and knowledge makes a significant difference when it comes to selling and buying a home in talega. call or email doug echelberger today, for a complimentary home evaluation.

949.498.7711 | doug@echelberger.com

* Represented Seller

** Represented Buyer

***Represented Seller and Buyer

4 | w w w.E chel berger. co m

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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 AU G U S T

TOWNHOMES

TRACT/STREET

STATUS

PRICE

PRICE/SQ FT SQ FT* BED/BATH GARAGE

LOT SIZE*

COE

Alassio Visit www.TalegaGreenSheet.com Visit www.TalegaGreenSheet.com Visit www.TalegaGreenSheet.com Visit www.TalegaGreenSheet.com Visit www.TalegaGreenSheet.com Visit www.TalegaGreenSheet.com Visit www.TalegaGreenSheet.com 64 Paseo Rosa 404 Calle Campanero 44 Paseo Luna 29 Paseo Luna

Active Active Active Active Active Active Pending SOLD SOLD SOLD SOLD

$599,000 $515,000 $515,000 $505,000 $505,000 $449,000 $595,000 $618,000 $510,000 $507,000 $495,000

$359 $351 $346 $410 $410 $364 $357 $371 $347 $345 $365

1,668 1,468 1,487 1,232 1,232 1,232 1,668 1,668 1,468 1,468 1,356

3/3 2/3 2/2 2/3 2/3 2/3 3/3 3/3 3/3 3/3 2/2

2 2 2 2 2 2 2 2 2 2 2

-- -- -- -- -- -- -- -- -- -- --

Active Active Active

$798,000 $779,500 $729,000

$335 $377 $356

2,385 2,066 2,050

3/3 3/2 2/2

2 2 2

-- -- --

Active SOLD SOLD SOLD SOLD SOLD

$710,000 $700,000 $684,000 $675,000 $625,000 $554,775

$400 $359 $385 $380 $352 $317

1,776 1,952 1,776 1,776 1,776 1,748

3/3 3/3 3/3 3/3 3/3 3/3

2 2 2 2 2 2

-- -- -- -- -- --

Active Active

$599,000 $529,000

$373 $377

1,606 1,402

3/3 2/2

2 2

-- --

Active Active Active Pending Pending SOLD SOLD SOLD SOLD

$655,000 $639,000 $515,000 $649,000 $509,000 $705,000 $657,500 $640,000 $513,000

$356 $347 $381 $345 $377 $383 $350 $340 $380

1,840 1,840 1,351 1,881 1,351 1,840 1,881 1,881 1,351

3/3 3/3 2/2 3/3 2/2 3/3 3/3 4/3 2/2

2 2 2 2 2 2 2 2 2

-- -- -- -- -- -- -- -- --

8/7/18 7/17/18 7/19/18 6/12/18

Carmel 46 Avenida Cristal Visit www.TalegaGreenSheet.com Visit www.TalegaGreenSheet.com

Santalana Visit www.TalegaGreenSheet.com 9 Paseo Vista 68 Paseo Verde 96 Paseo Rosa 174 Paseo Vista 122 Paseo Vista

7/20/18 7/16/18 6/14/18 7/3/18 7/18/18

Trinidad Visit www.TalegaGreenSheet.com Visit www.TalegaGreenSheet.com

Verano Visit www.TalegaGreenSheet.com Visit www.TalegaGreenSheet.com Visit www.TalegaGreenSheet.com Visit www.TalegaGreenSheet.com Visit www.TalegaGreenSheet.com 22 Corte Loarre 75 Via Cartaya 21 Corte Loarre 23 Corte Loarre

8/10/18 7/6/18 7/16/18 6/15/18

5 | w ww.E che l b erg er.c o m

call us today, for a COMPLIMENTARY home evaluation from talega's #1 real estate agent since 2003 DOUG ECHELBERGER 949.498.7711 | doug@echelberger.com *Approximate

CASA ROMANTICA'S 16TH ANNUAL TOAST TO THE CASA | September 22nd from 5:30pm-10pm

Funds raised support preservation of the nonprofit institution's historic Ole Hanson home, and maintenance for its botanical gardens and as well as it's 501(c)3 nonprofit cultural programs for people of all ages in OC, including critically-acclaimed performances, exhibitions, lectures, and children's academies. For additional information, visit: w w w.C a s a R o m a n t i c a .c o m

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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 AU G U S T

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 Visit www.TalegaGreenSheet.com Visit www.TalegaGreenSheet.com 20 Calle Loyola 17 Calle Loyola 13 Calle Loyola

Active Pending SOLD SOLD SOLD

$1,489,999 $1,749,000 $1,815,000 $1,635,000 $1,413,750

$364 $377 $413 $363 $321

4,094 4,635 4,400 4,503 4,400

5/6 5/6 5/6 6/7 5/6

2 3 3 3 4

6,389 8,241 8,759 6,558 6,386

Active

$1,878,500

$366

5,136

5/6

3

10,306

Active Active

$899,000 $835,000

$379 $374

2,369 2,234

4/3 4/3

2 2

4,073 3,808

Active Active SOLD

$1,350,000 $1,175,000 $1,080,000

$359 $322 $287

3,757 3,646 3,757

4/3 4/3 4/3

3 3 3

6,330 4,886 6,330

7/16/18

Active Pending SOLD

$1,000,000 $1,199,000 $1,165,000

$265 $341 $382

3,767 3,512 3,050

5/5 5/4 4/4

3 3 2

8,010 9,135 7,606

7/27/18

Active SOLD

$915,000 $925,000

$377 $360

2,427 2,566

3/3 4/3

2 2

4,101 6,006

7/17/18

Active Active Active Active Active SOLD

$2,199,000 $2,049,000 $1,799,000 $1,775,000 $1,699,000 $1,715,000

$453 $437 $386 $379 $317 $339

4,855 4,689 4,656 4,689 5,367 5,061

5/6 5/6 4/5 4/5 5/6 5/6

3 3 3 3 3 3

9,452 11,108 11,108 9,235 12,153 9,322

7/4/18

SOLD

$1,500,000

$382

3,928

5/5

3

9,110

8/13/18

Active Pending SOLD

$1,175,000 $1,090,000 $1,240,000

$331 $307 $350

3,547 3,547 3,547

5/4 5/4 5/4

2 2 2

5,629 6,360 6,844

7/13/18

Active Active Active

$1,595,000 $1,345,000 $1,299,000

$391 $349 $337

4,082 3,850 3,849

5/5 5/5 5/5

3 3 3

8,623 6,621 8,806

Active Pending SOLD SOLD

$924,800 $940,000 $980,000 $921,500

$367 $373 $400 $366

2,520 2,520 2,453 2,520

4/3 4/3 4/3 4/3

2 2 2 2

6,058 5,743 7,352 4,357

6/13/18 6/11/18 6/12/18

Alta 14 Via Alcamo

Amalfi 4 Via Jarabe 13 Via Oviendo

Bella Vista Visit www.TalegaGreenSheet.com Visit www.TalegaGreenSheet.com 20 Calle Altea

Cantabria Visit www.TalegaGreenSheet.com 40 Calle De La Luna 21 Calle Celestial

Caprizi Visit www.TalegaGreenSheet.com 19 Paseo Carla

Careyes Visit www.TalegaGreenSheet.com 45 Calle Careyes 41 Calle Careyes 9 Calle Careyes 1 Calle Careyes 65 Calle Careyes

Carillon

32 Calle Mattis

Catania Visit www.TalegaGreenSheet.com Visit www.TalegaGreenSheet.com 32 Via Jacobea

Cazadero Visit www.TalegaGreenSheet.com 30 Corte El Brazo Visit www.TalegaGreenSheet.com

Visit www.TalegaGreenSheet.com Visit www.TalegaGreenSheet.com 21 Via Apuesto 14 Calle Frutas

8/8/18 7/13/18

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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 AU G U S T

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

Farralon Ridge Visit www.TalegaGreenSheet.com Visit www.TalegaGreenSheet.com 704 Corte Buscando 445 Camino Flora Vista 468 Camino Flora Vista

Active Active SOLD SOLD SOLD

$900,000 $899,000 $880,000 $830,000 $818,000

$373 $372 $365 $344 $405

2,414 2,414 2,414 2,414 2,020

4/3 4/3 4/3 4/3 3/3

2 2 2 2 3

4,003 5,068 5,047 6,536 5,156

Pending

$2,775,000

$458

6,055

5/6

4

16,415

Active Active Pending Pending SOLD SOLD

$1,695,000 $1,575,000 $1,635,000 $1,299,900 $1,470,000 $1,339,000

$326 $303 $347 $281 $328 $346

5,202 5,202 4,706 4,631 4,488 3,870

6/7 7/7 5/6 5/6 6/6 4/4

2 3 4 3 3 3

12,225 9,588 9,300 11,117 10,342 10,949

7/23/18 7/10/18

Active Active Pending SOLD SOLD SOLD

$1,100,000 $1,100,000 $998,000 $1,250,000 $1,120,000 $1,095,000

$330 $365 $310 $388 $371 $363

3,338 3,015 3,218 3,219 3,015 3,015

4/4 4/3 4/3 6/3 4/3 5/3

3 2 3 2 3 3

7,775 5,040 6,429 8,099 8,347 6,756

6/11/18 7/13/18 6/1/18

Active Pending

$1,689,000 $1,500,000

$334 $331

5,058 4,531

5/6 5/5

3 3

9,941 15,583

Pending

$1,199,000

$351

3,415

5/4

3

7,549

SOLD

$1,340,000

$307

4,372

5/5

3

7,644

7/25/18

SOLD

$1,115,000

$307

3,627

4/4

3

6,840

7/13/18

Active

$1,009,000

$377

2,675

4/3

2

7,007

Active Active SOLD SOLD

$1,050,000 $999,999 $1,030,000 $1,030,000

$338 $348 $357 $343

3,108 2,872 2,884 3,000

5/3 5/4 4/3 5/3

2 2 2 3

5,318 4,646 4,941 6,094

7/5/18 6/6/18

SOLD SOLD SOLD

$1,375,000 $1,250,000 $1,240,000

$338 $291 $314

4,068 4,300 3,955

4/5 5/6 4/4

2 3 2

7,931 6,355 7,533

8/1/18 7/18/18 7/25/18

6/15/18 7/19/18 6/11/18

Lucia 20 Via Conocido

Mirador 30 Calle Aveituna Visit www.TalegaGreenSheet.com Visit www.TalegaGreenSheet.com Visit www.TalegaGreenSheet.com 16 Via Divertirse 13 Via Divertirse

Miraleste Visit www.TalegaGreenSheet.com 14 Via Paquete Visit www.TalegaGreenSheet.com 5 Via Belleza 13 Via Belleza 18 Via Cancion

Montellano Visit www.TalegaGreenSheet.com Visit www.TalegaGreenSheet.com

Monterey Visit www.TalegaGreenSheet.com

Pacifica Summit 18 Calle Castillo

Pacifica Talega

304 Camino Mira Monte

Portofino Visit www.TalegaGreenSheet.com

Portomarin

7 | w w w.E c he l berger. co m

Visit www.TalegaGreenSheet.com Visit www.TalegaGreenSheet.com 17 Via Regalo 46 Via Regalo

Ravenna

22 Via Nerisa 16 Corte Jaime 27 Via Nerisa

SAN CLEMENTE FUN FACT

In the 1920’s rum-running became a popular business off the coast of Rancho Los Desechos, Los Angeles elite used San Clemente as half way stop for trips to Mexico for gambling. w w w. S a n C l e m e n t e J o u r n a l .c o m

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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 AU G U S T

S I N G L E - FA M I LY H O M E S TRACT/STREET

Sabella

Visit www.TalegaGreenSheet.com Visit www.TalegaGreenSheet.com 53 Calle Akelia 18 Via Cuenta Nueva 12 Calle Akelia 33 Via Cristobal 21 Via Cuenta Nueva

STATUS Active Active SOLD SOLD SOLD SOLD SOLD

PRICE $924,900 $899,000 $992,000 $929,000 $907,000 $885,000 $870,000

PRICE/SQ FT SQ FT* BED/BATH GARAGE $352 $431 $367 $354 $336 $424 $322

2,627 2,088 2,701 2,627 2,701 2,088 2,701

4/3 3/3 4/3 4/3 4/3 3/3 4/3

2 2 3 2 3 2 3

LOT SIZE* 3,840 4,011 7,000 6,864 7,034 7,031 8,112

COE

8/8/18 7/23/18 6/20/18 7/6/18 7/27/18

San Lucar

Visit www.TalegaGreenSheet.com Active $925,000 $354 2,615 4/3 2 5,000 19 Calle Verdadero SOLD $940,000 $359 2,615 4/3 2 6,443 6/21/18

San Rafael

Visit www.TalegaGreenSheet.com Active $1,200,000 $351 3,414 4/4 3 11,934 400 Via Los Tilos SOLD $990,000 $280 3,531 5/5 3 7,305 6/19/18 110 Via Monte Picayo SOLD $983,000 $289 3,398 5/4 3 6,553 6/11/18

Sansol

Visit www.TalegaGreenSheet.com Active $1,175,000 $320 3,677 4/3 2 14,274 Visit www.TalegaGreenSheet.com Active $999,999 $326 3,069 4/3 2 5,369 52 Corte Vidriosa SOLD $1,275,000 $382 3,340 4/3 2 8,850 7/20/18 22 Corte Vidriosa SOLD $1,269,000 $383 3,312 4/4 2 9,480 6/18/18 5 Corte Abeja SOLD $937,500 $290 3,238 4/4 2 5,817 8/3/18

Seaside

Visit www.TalegaGreenSheet.com Active $949,500 $360 2,641 5/3 3 4,668 Visit www.TalegaGreenSheet.com Active $915,000 $346 2,641 5/3 2 5,180 8 Calle Cangrejo SOLD $882,000 $334 2,641 4/3 2 4,511 6/4/18 1 Calle Camaron SOLD $770,000 $307 2,507 3/3 2 8,370 7/3/18

Solana

Visit www.TalegaGreenSheet.com Visit www.TalegaGreenSheet.com Visit www.TalegaGreenSheet.com 9 Calle Tejado

Active Active Active SOLD

$899,000 $799,900 $780,000 $799,000

$391 $349 $433 $405

2,300 2,294 1,800 1,972

4/3 4/3 3/3 4/3

2 2 2 2

3,500 3,850 4,378 3,890

8/3/18

Stella Mare

84 Via Regalo Active $1,179,000 $341 3,453 4/4 2 6,699 Visit www.TalegaGreenSheet.com Active $1,079,900 $319 3,388 4/4 2 5,180 Visit www.TalegaGreenSheet.com Pending $1,350,000 $355 3,806 5/5 2 9,816 Visit www.TalegaGreenSheet.com Pending $1,324,900 $355 3,729 5/5 3 9,776 12 Via Andaremos SOLD $1,400,000 $363 3,852 5/5 2 10,122 6/5/18 44 Paseo Lerida SOLD $1,200,000 $346 3,465 5/5 3 5,691 7/3/18

Visit www.TalegaGreenSheet.com Visit www.TalegaGreenSheet.com 109 Plaza Via Sol 202 Via Malaga

Active Pending SOLD SOLD

$1,089,000 $969,000 $1,050,000 $925,000

$377 $367 $349 $325

2,888 2,637 3,008 2,850

5/3 5/3 5/3 5/3

3 3 3 2

8,093 6,944 6,968 6,316

7/26/18 8/15/18 8 | w w w.E c he l berger.c o m

Terra Linda

Vittoria Visit www.TalegaGreenSheet.com 16 Via Elda

Active SOLD

$1,175,000 $1,175,000

$366 $366

3,209 3,209

4/3 4/3

2 2

5,690 8,317

6/21/18

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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 AU G U S T

SENIOR 55 & OLDER TRACT/STREET

Sandbridge

Visit www.TalegaGreenSheet.com Visit www.TalegaGreenSheet.com Visit www.TalegaGreenSheet.com Visit www.TalegaGreenSheet.com 16 Corte Rivera

Seagarden

Visit www.TalegaGreenSheet.com 57 Corte Pinturas 23 Corte Pinturas 7 Camino Alenza

Waterleaf

7 Camino Del Prado

Watercrest

Visit www.TalegaGreenSheet.com

STATUS

PRICE

PRICE/SQ FT SQ FT* BED/BATH GARAGE

LOT SIZE*

COE

Active Active Pending Pending SOLD

$1,350,000 $1,249,900 $1,369,900 $1,225,000 $1,144,000

$475 $440 $508 $454 $313

2,841 2,841 2,699 2,699 3,650

3/2 3/2 2/2 2/2 3/3

2 2 2 2 2

5,868 6,152 5,955 7,540 6,721

8/17/18

Active SOLD SOLD SOLD

$769,000 $788,500 $755,000 $925,000

$487 $403 $487 $362

1,578 1,957 1,550 2,554

2/2 3/2 2/2 3/2

2 2 2 3,500 2 6,968

7/3/18 6/30/18 7/16/18

SOLD

$810,000

$374

2,166

2/2

2

5,954

7/24/18

Active

$799,000

$456

1,752

2/2

2

4,545

as we age we demand specialists for our health needs, so why not for our housing and equity needs as well?

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 (46) PENDING SALE (15) SOLD (94)

List Price $1,213,226 $1,374,913 $1,163,807

SqFt DOM List $ PSF 3,356 62 $362 3,756 75 $365 3,254 46 $358

Sold Price

Sold $ PSF

$1,148,610

$353

Condo/ Townhouse ACTIVE (16) PENDING SALE (3) SOLD (22)

List Price $613,156 $584,333 $645,700

SqFt DOM List $ PSF 1,638 24 $374 1,698 77 $356 1,723 29 $375

Sold Price $635,706

Sold $ PSF $369

*Approximate The Green Sheet is based on information from the Association of REALTORSÂŽ/Multiple Listing Service as of 7.19.2018 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 5.31.2018 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.

the

sheet

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 AU G U S T

MARKET SUMMARY • The active listing inventory increased by 108 homes in the past two weeks, up 2%, and now totals 7,001. Expect the inventory to peak right around now, the start of the Autumn Market. Last year, there were 5,862 homes on the market, 1,139 fewer than today.

• This year, 16% fewer homes have come on the market below $500,000 compared to last year, and there have been 25% fewer closed sales so far this year. 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 44 pending sales, 2%, and now totals 2,350. Demand peaked in mid-May at 2,726 pending sales. Last year, there were 2,825 pending sales, 20% more than today.

• The average list price for all of Orange County remained at $1.6 million over the past two-weeks. This number is high due to the mix of homes in the luxury ranges that sit on the market and do not move as quickly as the lower end.

• For homes priced below $750,000, the market is still a seller’s market (less than 90 days) with an expected market time of 65 days. This range represents 40% of the active inventory and 55% of demand.

• For homes priced between $750,000 and $1 million, the expected market time is 82 days. This range represents 21% of the active inventory and 22% of demand.

• For homes priced between $1 million to $1.25 million, the expected market time is 101 days, a balanced market (between 90 to 120 days).

• For luxury homes priced between $1.25 million and $1.5 million, the expected market time increased from 93 to 110 days.

• For homes priced between $1.5 million and $2 million, the expected market time decreased from 183 to 135 days.

• For luxury homes priced between $2 million and $4 million, the expected market time decreased from 294 to 274 days.

• For luxury homes priced above $4 million, the expected market time decreased from 523 to 470 days.

• The luxury end, all homes above $1.25 million, accounts for 30% of the inventory and only 15% of demand.

• The expected market time for all homes in Orange County increased from 86 to 89 days in the past two weeks and is just about a balanced market (from 90 to 120 days).

• Distressed homes, both short sales and foreclosures combined, made up only 0.8% of all listings and 1.6% of demand. There are only 21 foreclosures and 37 short sales available to purchase today in all of Orange County, 58 total distressed homes on the active market, down by one from two weeks ago. Last year there were 82 total distressed homes on the market, 41% more than today.

• There were 2,766 closed residential resales in July, nearly identical to July 2017’s 2,768 closed sales. July marked a 3% decrease from June 2018. The sales to list price ratio was 97.8% for all of Orange County. Foreclosures accounted for just 0.4% of all closed

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

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sales, and short sales accounted for 0.5%. That means that 99.1% of all sales were good ol’ fashioned sellers with equity.

presorted standard us postage

PAID

permit#1007

302 N. El Camino Real, Suite 214 | San Clemente, CA 92672

santa ana, ca

talega events | september 2018 Middle School Madness #2

Saturday, September 15th | 3pm - 6pm | Calle Altea Park Afternoon of fun for Middle-Schoolers! Grab some Talega friends and head over to the Calle Altea Park. Beverages and snacks will be provided. This is for 6th – 8th graders only. Parents: Please register your children online for this event.

Visit www.TalegaToday.com for additional details.

Movie in the Park

Saturday, September 22 nd | 7:15pm | Calle Altea Park Coco will be shown at Calle Altea Park in late September. Bring your chairs, blankets and beverages and get ready for an unforgettable night! Free popcorn will be available.

Visit www.TalegaToday.com for additional details.

DOUG ECHELBERGER TALEGA’S #1 REALTOR® since 2003 with OVER $600 MILLION in SALES and 640+ TRANSACTIONS in TALEGA

#KeepingItRealEstate in San Clemente Since 1994

artfully uniting extraordinary homes with extraordinary lives®: we believe luxury is an experience, not a price point Knowledge | Honesty | Integrity

DOUG ECHELBERGER

949.498.7711 Doug@Echelberger.com

Broker and agent do not guarantee accuracy of all data, including all measurements and calculations of area. Information is obtained from various sources and has not been, and will not be, verified by Broker or Agent of MLS. All information should be independently reviewed and verified for accuracy. Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. If your property is listed with a real estate broker, please disregard. Each Office Is Independently Owned And Operated. Broker DRE #01767484 | Doug Echelberger DRE #01176379