Laguna Real Estate Market Update

Hello all and welcome to a philosophical journey through the real estate market...no not really. I just don't have any idea how to make an opening sentence "feel" right for this.

Anywho...the real estates market here in Laguna has seen some resent increased activity. Throughout this year we were averaging about 15 home sales closing per month, but June and July were 21 and 20, respectively. August has started quickly, closing over a half dozen in the first week. On top of that the number of homes going into escrow has also increase...so what is the cause. From heavily researching, following pricing trends, speaking with buyers & sellers and following the advertising, the main reasons that I have found are that sellers have adjusted their pricing structures to be in alignment with the market and that buyers are beginning to see the light at the end of the tunnel.

I am constantly speaking with real estate investors, who are very actively searching for more places to plant their money. They don't ask me if the market has turned, they tell me they want to buy before the general populous joins the rush. I don't know about where the bottom of this market was/is/will be, but I know that people who purchased 8 or more years ago almost certainly have equity. It is the false equity that built up from 2003 to 2006/07 that is becoming just that...false. So we have traveled back in time to 2003/04 pricing, which is where we should have been in 2005. The real estates market has long revolved around a 10 year cycle of 7-8 year of growth and 2-3 years of lag and because of the government and lenders trying to make that 7 to 8 period go on forever, we have had to go through this last couple years of "fun".

Let's learn our lesson and RESEARCH before making any purchases. I have stated before that if you are trying to buy to flip homes, I wouldn't do it. There are some out there doing it and making money, but I believe that real HOMEOWNERS, the long term, live in the home individuals, are the real winners. They now have a chance to get into homes that were unavailable. Their incomes have increased since 2003 and now they can afford the home priced at 2003 levels! I love giving a new homeowner the keys to that home!!! I wish I could do it every day...I guess that makes me work hard and keep working hard.

Well, I do believe that this did turn out to be a bit of a philosophical journey! Thanks for reading and as always...if you see me wandering through Laguna in my little grey Subaru, please say hello!!! Cole