The IML Real Estate Blog

Foothill Ranch Real Estate Market Analysis - August 20^th, 2010. (Detached Homes - 2/37) 

2 Closed Sales: Two-thirds of the way through August 2010 and only 2 detached homes have sold in Foothill Ranch.  Last month (July) 4 homes had sold by the twentieth of the month and there were also 4 closed transactions by the twentieth of June so we're a little off pace and it will be interesting to see the final sales result with only 4 homes in "pending sales" status.

Sale prices ranged from $510,000.00 to $645,000.00 on the two month-to-date closed transactions.  $510,000.00 for a 1,650 sf 3 Bed/2.5 Bath in the Canyon View tract (Standard Sale) and $645,000.00 for a 2,545 sf 5 Bed/2.5 Bath Short Sale in the Belwood Park tract.  A great bargain relative to recent comparative sales!

37 Active Listings: Of the 37 active listings in Foothill Ranch 21 are standard (equity) sales,  14 are short sales and the remaining 2 are REO (bank-owned). Asking prices range from a $335,000.00 Short Sale (1,100 sf 2 Bed/2.5 Bath) to a recently price reduced $999,000.00 Standard Sale (3,600 sf 4 Bed/4.5 Bath & Highly Upgraded). 

REMINDER: List Price of a Short Sale does not necessarily equate to the price the lender will approve.  Potential Buyers & Sellers should learn as much as possible about short sales before considering.  Visit our All About Short Sales pages for some solid short sale information.