As reported in the LA Times Real Estate Section today (5/27/07), HOUSES in the Exclusive Areas of Orange County got PUMMELED in April, measured YEAR OVER YEAR.
Here is the damage:
Newport Beach 92661
Only 6 sales, Median Price (-51.7%)
Laguna Beach 92651
34 sales, Median Price (-32.4%)
Corona del Mar 92625
13 sales, Median Price (-24.4%)
Capistrano Beach 92624
Only 7 sales, Median Price (-48.3%)
Trabuco Canyon 92679
36 sales, Median Price (-22.6%)
Yorba Linda 92887
20 sales, Median Price (-20.5%)
Westlake Village 91361 in Ventura County also got WHACKED!
Only 8 sales, Median Price (-22.9%)
This doesn’t bode well for ANY HIGH END AREA of SOUTHERN CALIFORNIA. As I thought, the areas that enjoyed the largest appreciation, will suffer the GREATEST DECLINES….
Who’s the author? David Strietfield (sp?) writes for the Times and he’s done a couple articles on the downturn and related subjects. One of his foreclosure articles ran on the front page about a month ago.
Who’s the author? David Strietfield (sp?) writes for the Times and he’s done a couple articles on the downturn and related subjects. One of his foreclosure articles ran on the front page about a month ago.
