Fall starts now. The recovery from the height of the pandemic has been slow for real estate in terms of volume. However, low inventory pushes up prices especially when you have historically low interest rates.
As you can clearly see, once we got released from a general quarantine to go back to work, prices recovered then climbed. We started at under $1 million a year ago and we are now at the $1,350.000 range. Interest rates are historically low. The monthly payment has dropped for loans of $800,000+ from what it was just a few years ago. More people can afford to stay in their homes longer. Every time you refinance, the loan is extended out for another 30 years. Assuming you had paid down your house somewhat since the last loan took effect, you are refinancing less of a loan and extending the payment horizon out 30 years.
Because the Federal Government does not allow lenders to discriminate based on age, you can be 90 years old and qualify for a 30 year loan. There is literally no end to when you can refinance as long as your credit remains good and you have sufficient income.
If you would appreciate seeing the entire report go to Report. Scroll down and choose the month that interests you from the drop down menu. The list of all properties that sold will appear with the sold price. If you click on an address, you will see an icon appear on the map of Laguna Niguel. Click on the Detailed Listing link. You will see all the details as well as the pictures. You can do this for each of the last twelve months.
When you visually see the 30%+ appreciation in just one year’s time, it is astounding. Many people could not afford to buy the home they live in. Fortunately, the property taxes are limited to a 2% increase annually despite the appreciation in value. And people who are 55 years of age or older and move their property taxes with them to a replacement home. This gives retirees incentive to leave large homes and find smaller, one story residences without facing a huge increase in their property taxes.
The most expensive home that sold last month was 35 Vista Montemar. This home sold for $4,100,000. The average home only took 24 days to sell in August. This home is a super luxury home and it was on the market for 64 days. That is not a lot of time.
If you would like to see the current active listings for single family homes, click here, homes. There are currently 47 homes on the market. If you are interested in seeing one of these homes, give us a call or send us an email. Homes go quickly. If you need financing, we can offer you our contacts within the lending industry that can get you the best rates and give you amazing service. Don’t delay.
Laguna Niguel is beach-close, beautiful and much more affordable than the beach cities. Laguna Niguel movie
Please join us! Let us know if you would like to see any homes to purchase. Expect the process to be very fast!
