Here’s the scoop on the short sale and bank repo market in La Mirada, CA:

Located in Eastern Los Angeles County adjacent to Orange Co. on the East, La Mirada is a great place to call home.

• The active numbers of single family homes on the market in May 2010 is 75.
• Of those single family homes 41%  are identified as a foreclosure, in loan default or a short sale property.
• Prices range from $285,000 to $650,000.
• Average days on the market is 66.
• The average is 3.5 bedrooms, with an average 1,600 square feet.

When it comes to townhomes/condos the La Mirada market is much smaller.

•  The active number of condos/townhomescurrently for sale in La Mirada is 14.
• Of those 71% (10) are either in foreclosure, bank owned or are short sales.
• Prices for condos in La Mirada range from $120,000 to $379,000.
• Average days on the market is 58
• The average 2 bedroom condo is 1,044 square feet.

Located in Eastern Los Angeles County adjacent to Orange Co. on the East, La Mirada is a great place to call home. Want help with La Mirada real estate? Contact me directly!

4th  Quarter Closings City of La Habra for 2009 vs. 2008:

• $327,445 Average Sales Price 2009 ~ Price Per Sq. Foot $205.95 ~ 48 Days on Market
• $344,425 Average Sales Price 2008 ~ Price Per Sq. Foot $197.95 ~ 76 Days on Market

 Not all type of sales are the same: 

2009 ~  130 Total Closings~ 43%  Standard Sales ~ 26%  Bank Repos ~ 20% Short Sales ~ 11% Other

2008  ~ 154 Total Closing ~  29% Standard sales ~ 41 % Bank Repos 19% Short Sales ~ 11% Other

In analyzing the info I think the numbers reflect several things:

(1) Sales for the first half of 2009 were at a record low, while sales at year-end increased dramatically, largely in anticipation of the expiration of the first-time home buyer credit.

(2) Bank repos sales were lower in 2009 vs. 2008 for several reasons, goverment imposed foreclosure moratorium, both federally and state, the Obama Work Out Plan in hopes of doing loan modification for home owners, and in my opinion, many lenders not wanting to add to the massive wave of foreclosures on their books.

If you’re looking to buy a home or sell a home in La Habra, contact me, direct or text  714 595-1494.

Here’s the scoop on Brea’s residential real estate homes sales report 2009:

Single family homes:

• 53 single family homes were for sale in Oct. The high for the year was 94 (six months ago) and a low of 50 last month.
• 21 homes were pending (in escrow) for Oct., that’s down from the past few months.
• 33 homes closed in Brea for the month of Oct. That was up for 20 and 23 for the prior two months.
  • The average days on the market for Oct. was 77 compared to 56 & 78 in prior two months.  

  Brea Condos:

  • Only 13 condos were for sale, compared to 10/10/14/16/14/6/12/9/13 in the past few months. 
  • 4 pending sales went into escrow, compared to 8 & 4 in previous two  months. 
  • 4 condos closed  escrow in Oct. compared to 7 & 3 past two months.  
  • Average closed condo prices was $328,000 for approximately 1,376 sq. ft. with an average marketing time of 52 days on the market.

  Brea is a City is well known for excellence in education. Our  schools have been definite attraction for residents in our community. We often say Brea enjoys some of the bigger city benefits, yet maintains a small town feeling. Many of us who live here feel we have the best of both worlds.

   

  • If you’re interested in Breal real estate, contact me, 714 595-1494, text or direct.

If you lived in La Mirada you would be one of approximately 50,000 residents living here. La Mirada is also home to the well known Biola College, a private Christian University.

Single Family Home Activity for September:

• 58 up slightly from 53 re-sale homes currently for sale compared to 53 last month and 42 previously.   
• 23 pending sales, slightly more than 21 last month and down from 37 July.  
• 38 homes closed escrow, up from 29 last month and down slighly from the peak last month at 40, compared 35,39,35,35,19,19 in 2009. 
• $396,000 was the median sales price for a single family home with an average of 1600 square feet.

I sold and closed the home pictured right, closing in Sept. for $440,000, 3 bedrooms & 2 baths, beautifully updated. This home was near Biola College and is very typical for the construction of homes in La Mirada.

Condominium activity for September:

24 condos are currently for sale, about the same as the past few months.    

3 pending sales, (in escrow) slightly more than the past few months.

• 8 properties closed escrow, compared to 6,9,3,1,2,0,5,8 since the first of the year. 
• $220,000 was the median condo sales price with an average of 945 square feet, with an average days on the market of 49. 

Photo left is an example of a condo I sold and closed in September at just under $200,000. It’s located in the La Mirada Landmarks, a beautiful 55+ community.

Like the theater? La Mirada is home to the La Mirada Performing Arts Center showcasing talented performers in exciting productions. 

If you’re like me and love the outdoors you will definitely appreciate the beauty of the city in the La Mirada Regional Park.

There are so many things to love about this place, there’s something for everyone, from frisbee golf, local fishing, tennis, swimming, to one of the most inovative child playgrounds I’ve enjoyed in a very long time.

If you love this park, it gets even better, parking and admisssion is FREE.

Need more reasons to consider La Mirada, check it out, why to live in La Mirada here. 

 If you lived in beautiful La Mirada, California you would be approximately:

• 27 miles east of LAX ~ Los Angeles International Airport ~ Los Angeles, CA
• 23 miles north/west of John Wayne Airport ~ Santa Ana, CA
• 36 miles west of Ontario International Airport ~ Ontario, CA
• 10.5 miles north/west of the “Happiest Place on Earth” Disneyland ~ Anaheim, CA

Little known fact, (something I love to share, you know something not easily Googled, one of those things you know if you’re a local) a very small portion of La Mirada is actually located in the County of Orange!

If you’re considering buying a La Mirada home contact me, Lynda@PreferredHomeBrokers.com . See more at my Living In La Mirada and see why  La Mirada was also named ‘One of the best places to live” by Money Magazine.

 Text or direct: (714) 595-1494 Preferred Home Brokers, successfully serving home buyers and sellers for over thirty years. ~ CA DRE License #00402040.

 Data source, SoCal Multiple Listing Service 200

La Habra, CA is far more than the home of Octo-Mom. It’s a great place to live for many reasons. Here’s an update on the real estate market when it comes to selling your La Habra home.

Living in La Habra ~  OC Home Sales Report 90631 August 2009 ~ 

So what’s happening in the La Habra real estate market today? A whopping 81% of all closings for the month were identified at *distressed sales.

 2009Single Family Home Sales Activity for August:

• 71 homes were for sale, up from 66 last month, and compared to 2/90/120/136/128/153/180/129/149/153/182 previously  
• 41 pending sales in escrow during the month, and compared to 40/43/41/26/30/36/20/19/34/24/18/25/34/37 pending sales.
• 23 homes closed in August down slightly from 28 last month and compared to 39/28/41/30/42/14/25/26 in prior months.  
• $407,000 was the average closed sales price, up slightly from the last two months, average size of 3 bedrooms 2 baths and 1,628 square feet, with an average 56 days on the market.
• 74% of the closings were identified as single family distressed sales, either short sales, in the process of foreclosure or bank repos, up from 48% & 58% for the past two months. 
• Final sales price was 100% of the original asking price, and 101% of the final asking price.  

**********************

Condo Sales:

• 33 condo/townhomes were for sale, slightly more than last month (which was the lowest number for 2009) and compared to 40/36/50/56/65/63/65/71/72/63/82 previously.
• 23 pending sales (in escrow) in August and compared in 20/20/9/7/18/7/6/12/23/11/6/5 for prior months.  
• 14 closed, compared to  19/15/11/18/8/11/10/3/8in prior months.
• $183,000 was the average closed price. 
• ALL but one the condo sold in August was identified as a distressed sales, i.e. short sales, in the process of foreclosure or bank repos, compared to 78% last month.
• The average condo size was 2 bedrooms and 2 baths at 963 square feet, with an average of 108 days on the market. 

***************************

If you’re a home buyer or a home seller it’s essential you have a clear understanding of today’s real estate market when it comes to market conditions in pricing and inventory.

Home Buyers:  Get loan approval in advance!  Once approved you normally have greater strength in negotiating prices. With declining inventory we’ve been seeing multiple offers on the same home. Do yourself a favor, get pre-approved!

For Home Sellers:  It’s about positioning vs. pricing. Getting ahead of others is crucial for a timely sale. Pricing ahead of the competition, including foreclosures/bank owned properties, normally results in a higher sales price in the long-run. 

 Selling your home?  87% of all home buyers begin today with the Internet for their home search. 80% of Orange County is on-line. The average age in Orange County is 36 and I don’t know of a “thirty something” person in Orange County who is not on line.

CA Real Estate Broker’s License #00-402040.

*Distressed sales include short sales, bank owned properties (aka REO’s), others may be sellers in arrears or where a Notice of Default has been filed.

Here’s the latest on home sales in La Mirada for July 2009:

• Single Family Homes

43 re-sale homes currently for sale in the city, almost one-half from earlier in the year. 

• 37 pending sales  
• 40 homes closed escrow the peak for the year, compared to 35/39/35/35/19/19 in 2009. 
• Average selling price was $418,800.00.
• Average selling price per square foot was approximately $210.00

Condos for July:

• 24 condos are currently for sale, about the same as the past few months.    
• 6 pending sales, (in escrow) slightly more than the past few months.
• 9 properties closed escrow, compared to 3/1/2/0/5/8 since the first of the year. 

Comparing same time period 2008 vs. 2009

• 2008 ~ $421,342 Average Selling Price ~ $282.00 Price Per Sq.Foot ~ 53 Days On Market
• 2009 ~ $378,021 Average Selling Price ~ $224.00 Price Per Sq. Foot ~ 65 Days On Market

To learn more about real estate in the great City of La Mirada, contact me, text or direct 714 595-1494 or Lynda@PreferredHomeBrokers.com . See more at my Living In La Mirada and see why  La Mirada was also named ‘One of the best places to live” by Money Magazine

Homes for sale in Brea heat up this summer!

Brea, CA Real Estate Sales Report ~ Brea home sales heat up this summer in Orange County. 

Brea Single Family Homes for July 2009:

• 56 re-sale homes were  for sale, compared to 67 last month and 81 two months ago, 65/94/ respectively for the past few months.   
• 33 pending sales & back-ups, up dramatically 20 last month, and 23/18/ 25/12/20/16/36/30/27/ prior months.  
• 22 homes closed in July up from 15 last month & compared to  24/29/12/13/20/11/28/30/24/20/14/21 respectively in the prior 12 months. 
• Average selling price for July was $570,000 (compared to $482,668 last month) for a home with an average of 2238 square feet.
• The average days on the market for July was 38, down from 53 days in June and almost 1/2 of days on the market of 70 for May. 
• Of the 22 single family home, only 1 appears to be a bank/owned foreclosure, yet 4 out of the 22 were identified as short-sales or pre-foreclosure.

Brea Condo Sales Activity for July 2009:

• Only 10 Brea condo/town-homes were for sale, exactly the same as last month and compared to 14/16/14/6/12/9/13 in the past few months. 
• 4 pending sales/back-ups went into escrow the same as last month compared to 6/3/3/1/4/3/1/5/7/2/1/1/ in prior months. 
• 6 condos closed  escrow in July compared to 2/1/2/6/0/5/3/4/2/5/4/2/2/0 respectively in preceding months.
• 2 out of 6 closings were indentified as floreclosures, with 1 short sale. 

Comparing Brea home sales year-to- date 2008 vs. 2009. 

• 2008 ~ 152 Closed Brea sales $520,235  Average Sales Price, $298.15 Sq. Ft., 85 days on the market, $293.68 price per square foot.
• 2009 ~ 166 Closed Brea sales Closed, $527,785 average sales price, $262.36 Sq. Ft., 73d ays on market, $259.09 price per square foot.

Check out Southern Cal home prices per square foot to see how prices vary depending on your city.

We love Brea for many reason, our city is  well known for excellence in education. Seems to me like  Brea enjoys some of the bigger city benefits, yet maintains a small town atmosphere.   Many of us who live here feel we have the best of both worlds!

Check us out, contact me at Lynda@PreferredHomeBrokers.com

Single Family Homes for Brea:

• 68  re-sale homes were  for sale, down 17% from last month at 81 and 65/94/ respectively for the past few months.
• 23 pending sales and back-ups, up 22% from last month at 18 and  compared to 25/12/20/16/36/30/27/27/24 prior months.
• 15 homes closed in May compared to 24 last month and compared to  29/12/13/20/11/28/30/24/20/14/21 respectively in the prior 12 months.
• Average selling price for May was $537,480 (compared to $556,000 last month) for a home with an average of 1,986  square feet.
• The average days on the market was 70.

Condominium activity for May:

• 14 condo/town-homes were for sale, compared to 16/14/6/12/9/13 in the past few months.
• 6 pending sales/back-ups went into escrow up double from April, and  compared to 3/3/1/4/3/1/5/7/2/1/1/5/2/2 in prior months.
• 1 condo closed (yes 1) escrow in May compared to  2/6/0/5/3/4/2/5/4/2/2/0/3/3/2/4/6 respectively in preceding months.

Check out Southern Cal home prices per square foot to see how prices vary depending on your city.

Brea is a City is well known for excellence in education. The schools have been definite attraction for residents in our community. We often say Brea enjoys some of the bigger city benefits, yet maintains a small town feeling. Many of us who live here feel we have the best of both worlds.

Brea, CA is very well located in Northern Orange County ~ If you lived in the SoCal community of Brea you would be approximately:

• 30 Miles east of downtown Los Angeles.
• 39 Miles from LAX ~ Los Angeles International Airport,
• 16 Miles from John Wayne Airport in Santa Ana, CA
• 10 Miles from the “Happiest Place on Earth” Disneyland ~ Anaheim, CA.

Here’s more on the new Sports Park, check it out. Looking for low/no cost fun in our city, read Brea Fun On A Budget.

If you’re interested in learning more about Brea see why Sunset Magazine named it one of the best places in the west, or check out Living In Dowtown Brea, or Downtown Brea Nights,

Visit Brea Family Fun, Brea’s Curtis Theatre or Downtown Brea Dining.

La Mirada,  in So Cal is a great place to call home.

Single Family Home Activity for February:

• 92 re-sale homes currently for sale in the city, down about 10% from the prior 3 months, and approximately 30% fewer from mid-year and far  fewer than the beginning of 2008.
• Asking prices ranged from $225,000 to $775,000 for the city.
• Average asking price is $442,000 almost the same as the past two months.
• Average price per square foot for single family homes is $253.00.
• 33 pending sales up from 22,16,19 for the past 90 days.
• 14 homes closed escrow, as compared to 36,26,20 in the last 2-4 months.
• Average selling price was $357,800 (the lowest I’ve seen in years).
• Average selling price per square foot $245.89

Condominium activity for February: Condo prices for the month ranged from $133,000 to $435,000.

• 23 condos are currently for sale, almost identical to the past 90 days.
• Average asking price was $262,875.
• Average asking price per square foot was $262.00.
• 5 pending sales (in escrow) compared to 4 two months ago, and a little higher than prior months.
• 3 properties closed escrow, compared to 4,5 and 3 in the past few months.
• Average condo selling price was $260,900.
• Average condo selling price per square foot was $237.15.

***The City of La Mirada has a 2.1 month supply of homes (combined single family and condos) for sale,  down from 60 days ago at 3.8 and and down also from prior months. That’s the length of time it would take to sell the existing inventory of homes for sale, provided sales continue at the same pace this year as in 2008, and providing no new listings enter the market place.

I think it’s also worthy to note that while the number of sales were up year-to-date (past 12 months) 320 single family vs. 230 for same time period 24 months ago. Although the number of sales has increased, prices have continued to decline.

If you’re looking to sell your La Mirada home remember that 87% of home buyers begin their home search online.  Check out my other La Mirada areas posts. Contact me for the maximum exposure for marking your home!

4th  Quarter Closings City of La Habra for 2009 vs. 2008:

• $327,445 Average Sales Price 2009 ~ Price Per Sq. Foot $205.95 ~ 48 Days on Market
• $344,425 Average Sales Price 2008 ~ Price Per Sq. Foot $197.95 ~ 76 Days on Market

 Types of Sales:

2009 ~  130 Total Closings~ 43%  Standard Sales ~ 26%  Bank Repos ~ 20% Short Sales ~ 11% Other

2008  ~ 154 Total Closing ~  29% Standard sales ~ 41 % Bank Repos 19% Short Sales ~ 11% Other

In analyzing the data I think the numbers reflect several things:

(1) Sales for the first half of 2009 were at a record low, while sales at year-end increased dramatically, largely in anticipation of the expiration of the first-time home buyer credit.

(2) Bank repos sales were lower in 2009 vs. 2008 for several reasons, goverment imposed foreclosure moratorium, both federally and state, the Obama Work Out Plan in hopes of doing loan modification for home owners, and in my opinion, many lenders not wanting to add to the massive wave of foreclosures on their books.

Looking to buy or sell a La Habra home? Email or call me directly (714) 595-1494.