Home Sales in Laguna Niguel remain strong throughout 2012, says Ron Buck, Realtor®. Ever since the national pundits called the bottom of the market early this year, Ron Buck, Realtor, has seen buyers coming out of the proverbial woodwork. Currently in Laguna Niguel, Ron Buck, Laguna Niguel Realtor, reveals that there are only 99 active listings of ALL price ranges. Three of those are bank-owned REO properties and 14 are short sales. Total distressed property inventory is 17% of the Laguna Niguel market.
Ron Buck, Aliso Viejo and Laguna Niguel Realtor, put a new listing on the market Saturday in Laguna Niguel in the mid $700’s. In a four hour open house Ron Buck had 12 Realtors with clients show the property and another dozen or so families without Realtors. Today there are only four condos under $300,000 and 41 detached homes under $1 million.
As of December 1st there are 198 homes in backup or pending status. Twice as many in escrow as active. As I have said before, this time of year can work out well for sellers.
Buyers in Laguna Niguel have been asking me for four years about the “shadow inventory”. What about that? It is Ron Buck’s expert opinion that if the inventory were to quadruple in January there would be enough pent-up demand to absorb all of the new inventory.
Ron Buck, Rancho Niguel and San Joachin Hills Reator, has heard now from more than one buyer that the “flippers” are driving up the market in an unethical or malicious way. This of course is not true. Buyers are in control and if the market will not bear a price then the flippers will have lower their list price. Also remember that the flippers will do the remodeling that most buyers really don’t want to live through. It is true that most flippers will make their properties look like a model home by using the “economy” quality products.