Real Estate Report for Ranchwood Homes in Lake Forest
Sales in the Ranchwood neighborhood in Lake Forest this year have been dominated by distressed (short sales or bank-owned) homes so far, but these sales don’t show the “pride of ownership” that the rest of the homes reflect. Since the homes in Ranchwood are among the smallest of the Lake Forest II Association, they have always been attractive to the younger first-time buyers as an entry point to single family home ownership. As our market improves over the next few years, I expect this neighborhood to be an attractive target for both first time buyers, and first move-ups (from condos), although being mostly single story, they will also attract older move-down buyers who want to give up their larger 2 story homes to save on the maintenance as well as eliminating stairs as they age.
With city-owned streets, and the city-maintained park within the tract, Ranchwood has the lowest association dues (currently only $58.53 per month) in the Lake Forest II Association, paying only the basic amount for recreation facilities and CC&R services.
There is currently only one home available in the MLS in this neighborhood and it is another short sale, so it will probably take a long time to sell. Click on the link below to view all real estate activity* in the Ranchwood neighborhood this year.
Ranchwood Homes in Lake Forest 11-02-08
If you are thinking about either buying or selling in this neighborhood, please give me a call to find out how I can help you!
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