Aliso viejo eye doctor

14/09/2012 21:29

In the first quarter of 2009, there were 8 transactions for luxury real estate homes over $800,000 in Aliso Viejo, California, versus 7 in the first quarter of 2010. Price per square foot went from $226.37 last year to $272.94 just recently. Time on market decreased from an average 188 days to just 37. Even more remarkably, homes last year were sold at just 85% of their original list price, versus a whopping 99% this year. How could this be? Hasn't the real estate market only gotten worse?The answer may lie in distressed sales. In Q1 of 2009, only 1 (or 12.5%) of those sales was the result of a short sale or foreclosure. In our most recent quarter, distressed sales accounted for 43% (or 3) of the transactions. Aliso Viejo Luxury Homes last year sat on the market for an average of 6 months and only yielded 85% of the original asking price. It would appear that aggressive pricing led to an increase of distressed sales, which in turn...improved the market? Could it be? Price per square foot is up and time on market is down, despite the complete lack of financing options at this level. Read alot more on Aliso viejo eye doctor. The 3 distressed sales last quarter yielded 103% of asking price, only sat on the market for 22 days, and sold at $261/sf.I doubt this could be the result of superior marketing efforts by bank owners but more likely the result of continued demand. While most of Southern California has suffered, Aliso Viejo has thrived. With it's affluent professional population and shortage of housing, demand has outpaced supply. Nondistressed sales last quarter did yield an additional $11/sf, but collected 99% of asking price and took 15 days longer to sell. Hardly the sign of a crippled market and definitely encouraging for luxury homeowners looking to sell.There are currently 4 homes on the market in Aliso Viejo in this price range and all are nondistressed sales. 3 have only been on the market for 30 days or less. 7 homes in this price range are pending sale or accepting backup offers. In these financially uncertain times, these all seem to be signs of an extremely strong market. If you're looking to sell your home in Aliso Viejo, now may be as good a time as any.  You can search more on this web page!


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