Posted by Suzan Nasr on January 21, 2009 at 5:25pm
While we've been seeing our share of REO's throughout South County, to date the number of foreclosures and short sales in Coastal Communities has been very low. Popoular coastal towns such as Laguna Beach, Monarch Beach/Dana Point and Newport Coast for the most part have not been affected much. Ofcourse it remains to be seen what the trend will be in 2009. Once in a while when an REO doest hit the market in one of these communities, it's typicaly sold right away. A 2 bedroom condo in Monarch Beach is still in the mid to high $300k range while in Laguna Niguel you can pick a 2 bedroom in the low $200k range! Yet you are only a few miles from the ocean.www.PacificBankerRealty.com
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