746 Summit Drive, Laguna Beach | JUST SOLD $1,485,000!

summit-drive-laguna-beach-home-front746 Summit Drive is a historic ocean view home in the Woods Cove area of Laguna Beach. Scott Bingham of Beach Cities Real Estate has JUST SOLD this home where he represents the Buyer in this real estate transaction. The home was listed for $1,595,000 and Scott was able to negotiate the price down to $1,485,000 for his client. The property is a 4 bedroom, 2 ½ bath, 1 car garage, 1775 SQFT home. The home has sweeping ocean views, a large living room, and huge family room both with fireplaces. There’s also a fully permitted greenhouse with an ocean view and beautifully terraced gardens with ocean views. Newer kitchen with Kitchenaid six burner gas stove, stainless steel kitchenaid refrigerator, kitchenaid dishwasher, wine cooler and center island eating area. For the location and view this home is a great deal! For more information on the homes for sale in Laguna Beach or anywhere in Orange County please contact Scott Bingham at 949-412-3515.

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See what’s currently for sale in Laguna Beach and throughout Orange County at our website Ladera Ranch Real Estate!

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746 Summit Drive, Laguna Beach | IN-ESCROW!

Summit Drive, Laguna Beach home front

746 Summit Drive is a historic ocean view home in the Woods Cove area of Laguna Beach. Monday Scott Bingham of Beach Cities Real Estate has put IN-ESCROW this detached single family home where he represents the buyer in this transaction. The property is a 4 bedroom, 2 ½ bath, 1 car garage, 1775 SQFT home listed for $1,595,000. The home has sweeping ocean views, a large living room, and huge family room both with fireplaces. There’s also a fully permitted greenhouse with an ocean view and beautifully terraced gardens with ocean views. Newer kitchen with Kitchenaid six burner gas stove, stainless steel kitchenaid refrigerator, kitchenaid dishwasher, wine cooler and center island eating area. For the location and view this home is a great deal! For more information on the homes for sale in Laguna Beach please contact Scott Bingham at 949-412-3515.

746 Summit Drive, Laguna Beach View

Want to see additional information and pictures of the home? Click this link: 746 Summit Drive, Laguna Beach.

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12 Starlight Isle, Ladera Ranch | Just Listed for Lease $14,500

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12 Starlight Isle is located in the guard gated community of Covenant Hills in Ladera Ranch. Friday Scott Bingham of Beach Cities Real Estate has Just Listed for Lease this luxury home where he represents the owner. The home is available for $14,500 a month furnished. The home features dual master suites, one upstairs and one down each with its own full bath. There is a total of 6 bedrooms (4 upstairs/2 downstairs) one downstairs bedroom currently being used as a game room with a pool table. Kitchen features granite counters, full backsplash, dark fruitwood maple cabinets, stainless steel appliances, and butler’s pantry. The backyard showcases the California lifestyle with a private pool/spa, covered patio room with a built in BBQ, a Bar, and an outdoor fire pit. For more information on the homes for sale and lease in Ladera Ranch please contact Scott at 949-412-3515 today.

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Want to see additional information and pictures of the home? Click this link: 12 Starlight Isle, Ladera Ranch.

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Orange County Real Estate Market Update 7/6/16

Great news to begin your holiday weekend, soon you’ll be able to finance or refinance your love shack with a 30-year fixed for under 3 percent! Thirty-year mortgage rates have never been that low in the 45 years since Freddie Mac began tracking them in 1971. It appears that the economic fallout from ‘Brexit’ will at least have one upside for American home owners and for home buyers requiring financing.

This week the 30-year fixed averaged 3.48 percent, a whopping 8 basis points lower than last week’s 3.56 percent. That’s the lowest rate since May 9, 2013. The 15-year fixed settled in at 2.78 percent, 5 basis points better than last week’s 2.83 percent, and the five-year ARM (an adjustable-rate mortgage that’s fixed for the first five years) fell to 2.70 percent. Both also are at three-year lows!

The recent economic turmoil has left many wondering if the housing market will soon decline. The chance of a widespread drop in local or statewide home prices in the next two years is practically nil, according to a new forecast from a private mortgage insurer. Arch MI’s quarterly housing reports pegs the risk of a price drop based on a host of real estate trends, credit market factors and economic patterns. Recent economic turbulence has raised questions about the durability of housing’s rebound from its collapse and the Great Recession.

Based on first-quarter data, Arch calculated the risk of price drops in all of California – as well as in Orange, Los Angeles, Riverside or San Bernardino counties – at a “minimal” 2 percent vs. 5 percent nationwide. A year ago, California’s price-drop risk was 8 percent, equal to the national risk level in 2015’s first quarter. “We see no housing bubble in Southern California,” says Ralph DeFranco, chief economist for Arch MI’s owner, Arch Capital. “Even though homes feel expensive, they are supported by the amount of income people have.”

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25082 Champlain Road, Laguna Hills | JUST SOLD $700,000!

IMG_7459where he represents the Sellers in this real estate transaction. The home was on the market for only 12 days before accepting an offer and opening escrow! The home was listed for $714,900 and ended up selling for $700,000! The home is a 4 bedroom, 2 bath, 2 car garage, with 2,500 square feet of living space. The home upgrades including an open floorplan, remodeled granite kitchen/new cabinets, wine fridge and breakfast bar. The home also features fresh paint throughout, upgraded bathroom, crown molding, double pained windows, a new AC unit, new water heater, newer carpet, mature fruit trees, large backyard which can easily accommodate a pool, and RV parking/access. The community has two parks are both in walking distance and include tennis courts, a playground, and lots of open space to run around. No HOA or Mello Roos! If you’re looking for a home in Laguna Hills or anywhere in Orange County give Scott a call 949-412-3515.

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See what’s currently for sale in Orange County at our website Ladera Ranch Real Estate!

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Orange County Real Estate Market Update 3/1/16

The National Association of Realtors said that its seasonally adjusted pending home sales index fell 2.5 percent to 106 in January. The decline comes after the sales index averaged 108.9 in 2015, its highest level since 2006. The number of signed contracts decreased in the Northeast, Midwest and West. Prospective sales improved slightly in the South. But a shortage of listings has weighed down the potential for sales increases akin to last year’s increase. Steady job growth and low mortgage rates have bolstered demand for housing from the recent lows caused by the Great Recession. Yet the greater demand largely failed to bring more properties onto the market. The number of listings on the market in January fell 2.2 percent from a year ago, the Realtors said in a report last week.

Offsetting some of the price pressures are mortgage rates near historic lows. Mortgage buyer Freddie Mac said the average rate on a 30-year, fixed-rate mortgage was 3.62 percent last week, below its 3.80 percent mark a year ago.

 

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25082 Champlain Road, Laguna Hills | IN-ESCROW!

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Upgraded single family home just listed for sale in the community of Capistrano Highlands in Laguna Hills. Monday Scott Bingham of Beach Cities Real Estate has put IN-ESCROW this detached single family home where he represents the sellers in this transaction. The home was on the market for only 12 days before accepting an offer and opening escrow! The property is a 4 bedroom, 2 bath, 2 car garage, 2500 SQFT home for only $714,900! The home has plenty of upgrades including an open floorplan, remodeled granite kitchen/new cabinets, wine fridge and breakfast bar. The home also features fresh paint throughout, upgraded bathroom, crown molding, double pained windows, a new AC unit, new water heater, newer carpet, mature fruit trees, large backyard which can easily accommodate a pool, and RV parking/access. The home is located on a quiet street with easy access to the 5 & 405 freeways and a short drive to the business centers of Irvine. Costeau and MacKenzie parks are both in walking distance and include tennis courts, a playground, and lots of open space to run around. No HOA or Mello Roos! For more information on the homes for sale in Laguna Hills please contact Scott at 949-412-3515.

Want to see additional information and pictures of the home? Click this link: 25082 Champlain Road, Laguna Hills.

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25082 Champlain Road, Laguna Hills | JUST LISTED $714,900!

IMG_7459Upgraded single family home just listed for sale in the community of Capistrano Highlands in Laguna Hills. Wednesday Scott Bingham of Beach Cities Real Estate has JUST LISTED a detached single family residence where he represents the sellers in this transaction. The property is a 4 bedroom, 2 bath, 2 car garage, 2500 SQFT home for only $714,900! The home has plenty of upgrades including an open floorplan, remodeled granite kitchen/new cabinets, wine fridge and breakfast bar. The home also features fresh paint throughout, upgraded bathroom, crown molding, double pained windows, a new AC unit, new water heater, newer carpet, mature fruit trees, large backyard which can easily accommodate a pool, and RV parking/access. The home is located on a quiet street with easy access to the 5 & 405 freeways and a short drive to the business centers of Irvine. Costeau and MacKenzie parks are both in walking distance and include tennis courts, a playground, and lots of open space to run around. No HOA or Mello Roos! For more information on the homes for sale in Laguna Hills please contact Scott at 949-412-3515.

Want to see additional information and pictures of the home? Click this link: 25082 Champlain Road, Laguna Hills.

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Orange County Real Estate Market Update 2/2/16

Looking back and looking forward where is the Orange County real estate market heading? The full-year median – or price at the midpoint of all 2015 sales – was $610,000, figures from Irvine housing data firm CoreLogic show. With sales totaling 36,588 homes, 2015 was the second-busiest year since the recession. On the other hand, last year’s 4.8 percent price appreciation rate was the lowest since 2011. And despite last year’s 7.4 percent gain, 2015 transactions lagged behind 2013’s tally and were 13 percent below average, CoreLogic figures show. Another feature of 2015: Distressed housing – foreclosures, bank-owned homes, “short sales” – all but disappeared accounting for only 4% of real estate deals. Sales of existing luxury homes hit their highest level since 2005, said Steve Thomas of ReportsOnHousing.com.

So what should we expect this year for real estate? “The underlying story is the economy is doing OK in Orange County,” said housing economist G.U. Krueger. The year ahead should be slightly better, he said, although there are obstacles. If stock market volatility continues, that could impact luxury home sales. On the other hand, falling oil prices is good for California, Krueger said, and that’s good for the housing market. Some experts said 2016 could be the year the O.C. market gets back to the peak.

From Freddie Mac’s weekly survey: The 30-year fixed rate improved 2 basis points, landing at 3.79 percent from last week’s 3.81 percent. The 15-year fixed arrived at 3.07 percent, 3 basis points lower than last week’s 3.10 percent. So assuming a borrower gets the average 30-year conforming fixed rate on a $417,000 loan, last year’s rate of 3.66 percent and payment of $1,941 is $31 less than this week’s payment of $1,941.

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Orange County Real Estate Market Update 1/7/16

Happy New Year 2016! Looking back, 2015 was another year of low inventory and high prices that kept many buyers out of the Orange County market. However, next year things may fall into place for those unable to purchase a home in 2015 as Redfin predicts easier credit and a slower market. According to Redfin’s forecast for 2016, “Most economists agree that housing prices and sales will continue to grow in 2016, just at a slower pace. Call it a slowdown, but not bad news.”

Orange County home prices rose 5 percent in the year ending in November, the highest appreciation rate in more than a year, according to CoreLogic’s Home Price Index released Tuesday. This was CoreLogic’s second report showing a price surge in November. The 5 percent gain, although below neighboring counties and the national average, was Orange County’s biggest year-over-year increase in home prices since October 2014. A separate CoreLogic report issued a few weeks ago also showed Orange County home prices rising at the fastest pace in 13 months. Nationwide, home prices increased 6.3 percent from November 2014 levels, while California’s average gain was 7.4 percent. As we enter 2016, affordability is becoming more of a constraint on sales in some markets.

 

 

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