The IML Real Estate Blog

Ladera Ranch Real Estate Market Analysis - August 19th, 2010.   (DETACHED HOMES)

14 Closed Sales: Two-thirds of the way through August 2010 with 14 detached homes having sold in Ladera Ranch (including Covenant Hills).  Of the 14 homes sold 4 were REO (bank-owned) and the remaining 10 were standard (equity) sales.  Interestingly no short sale transactions have closed so far in August. 

Sale prices ranged from a $425,000.00  standard sale (1,600 sf 3 bed/3 Bath in the Surrey Farm tract) to a $1,150,000.00 standard sale (3,181 sf 5 Bed / 5 Bath in the Las Piedras tract in Covenant Hills).

106 Active Listings: Of the 106 active listings 62 are standard (equity) sales, 39 are short sales and the remaining 5 are REO (bank-owned).  Asking prices range from a $399,000.00 Short Sale(1,666 sf 3 Bed / 3 Bath in the Potters Bend tract) to $4,199,900.00 for a custom estate in Covenant Hills (7,000 sf 6 Bed / 8 Bath) short sale.

REMINDER: List Price of a Short Sale does not automatically equate to the price the lender will approve. Buyers & Sellers should learn as much as possible about short sales.  Visit us here to learn more.

We're on track to exceed July 2010 sales volume of 18 homes.  REO sales increased from 2 in July to 5 so far in August.  Banks are making the decision to foreclosure more rapidly lately so distressed homeowners attempting loan modifications need to be especially careful as this trend is expected to continue.  Explore all of your options!

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