There are currently no listings on the MLS in Prairie Ridge, Parkwood Estates, or Park Place. You could be the first this year – call me if you are thinking about buying or selling anywhere in Lake Forest.
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Categories: Indian Hlls · Lake Forest Keys · Lake Park West · Lakeside Park · Parkwood Estates 2 · Prairie Ridge · Ranchwood · Serrano Ridge · Serrano Woods · The Oaks · The Woods
Tagged: Lake Forest, Lake Forest II Homes
Sales in Lake Forest II were pretty slow in 2008, with the majority of them being either short sales, or bank owned. The following reports are all PDFs and include all sales for each neighborhood in 2008.
There were no closed sales in Parkwood Estates II neighborhood in 2008.
Categories: 1 General Lake Forest II · Forest Creek · Indian Hlls · Lake Forest Keys · Lake Park West · Lakeside Park · Park Place · Parkwood Estates · Parkwood Estates 2 · Prairie Ridge · Ranchwood · Serrano Ridge · Serrano Woods · The Oaks · The Woods
Tagged: Sales Reports Lake Forest II
There are only 31 active listings in Lake Forest II neighborhoods as of January 6, 2009 :
There are currently no active listings in Serrano Woods Condos, Parkwood Estates, Park Place, or Prairie Ridge. (If you have been thinking about selling, there is very little competition right now!)
Categories: 1 General Lake Forest II · Forest Creek · Indian Hlls · Lake Forest Keys · Lake Park West · Lakeside Park · Park Place · Parkwood Estates · Parkwood Estates 2 · Prairie Ridge · Ranchwood · Serrano Ridge · Serrano Woods · The Oaks · The Woods
Tagged: Lake Forest, Lake Forest II Homes, Lake Forest Real Estate
I decided to update all the neighborhoods in one post today so you can see all the year-to-date activity for each neighborhood. I am trying out a new report format, so let me know if you like it or not.
I like this new report because it includes all the photos for each property, and will update itself if the price or status changes. A new field called “Special Conditions” is under the property description and will tell you if the property is a short sale, or REO listing. It also shows the $/square foot price of each property which I think may be valuable to the analytical types. These links will all expire in 30 days, but I will provide all the new reports before then.
Categories: Forest Creek · Indian Hlls · Lake Forest Keys · Lake Park West · Lakeside Park · Market Conditions · Park Place · Parkwood Estates · Parkwood Estates 2 · Prairie Ridge · Ranchwood · Serrano Ridge · Serrano Woods · The Oaks · The Woods
Several Lake Forest II neighborhoods have had recent real estate activity, but, like the rest of Lake Forest, most of the sales have involved “distressed” properties – either short sales or foreclosed homes.
Even though the national election is behind us, real estate activity is still being slowed by questions of what the economy will do, as well as concerns about the lending environment. In California, the foreclosures have slowed noticeably, but it’s not clear whether that is because lenders are waiting to see what the $700 billion bailout will offer them, or because of California’s new law that requires lenders to document their attempts to work with borrowers before foreclosing.
It is still extremely frustrating for both buyers and sellers to complete short sales, and many times, the buyers give up and buy another property before getting a final answer. Also, the lenders are taking so long to reach decisions regarding short sales, that the values are declining below the “approved” price, and the properties no longer appraise for value needed for the buyer’s loan!
There are currently foreclosed homes in almost every neighborhood in Lake Forest II, and the banks are pricing them to attract multiple offers. Last month, out of 81 homes sold in Lake Forest, 40 of them were foreclosures, and 30 of those sold for over list price, and were on the market an average of only 15 days. In reality, the 15-day average was inflated by the lender refusing to respond to any offers for the first 7 days, then giving all of those potential buyers another 5 days to re-write their offers with their “highest and best” terms. I have represented several buyers in this type of “blind auction” bidding. Since you don’t know how many, or how qualified the other buyers really are, the only way to respond is to think about what value would make you feel satisfied that you “won” without feeling that you were tricked into it. It’s very difficult!
There are 12 foreclosed homes on the market in Lake Forest II neighborhoods today. If you have a good imagination and don’t mind spending time, energy and money to update or repair a home to your own taste, one of them may be a good investment for you! Contact me if you would like further information!
Here are the year-to-date activity reports for several Lake Forest II neighborhoods. I will be adding the rest of them in the next few days.
Categories: Forest Creek · Lakeside Park · Market Conditions · Park Place · Parkwood Estates 2 · Serrano Woods
It has been pretty quiet the last week, but yesterday 4 new REO (bank-owned) listings came on the market. There is a waterfront in the Lake Forest Keys priced at $763,900, a 4 bedroom, 2800 square foot house with 3 car garage priced at $579,900 in the Serrano Ridge neighborhood, a 2 bedroom condo in Lakeside Park at $255,000 and a 4 bedroom in the Oaks priced at $474,900.
These are all aggressively priced and are not expected to last very long. Call me if you would like to see any of them.
Lakeside Park Homes in Lake Forest
Lake Forest Keys Homes in Lake Forest
Serrano Ridge Homes in Lake Forest
Do you want to search for other homes? Click here to view all 14,000+ homes in the MLS!
Categories: Lake Forest Keys · Lakeside Park · Market Conditions · Serrano Ridge · The Oaks
Tagged: Bank owned, Lake Forest, Lake Forest II, Lake Forest Keys, Lakeside Park, REO, Serrano Ridge, The Oaks, Waterfront Homes
