Laguna Niguel Real Estate Blog

The Orange County Register reported the grading project in the O'Hill Ridge neighborhood of Bear Brand Ranch. Bear Brand Ranch, in Laguna Niguel has found itself in the middle of a common theme of controversy with South Orange County real estate. The debate centers on the notion that residents who already live in their neighborhood should be entitled to the views and neighborhood conditions that "run with the land" and that those are actual property rights.

This also started a controversy in Shorecliffs district of San Clemente, where it pitted neighbor against neighbor in a very unfortunate set of circumstances. In this case, it is a little different, because it is not about people improving their existing homes. In Bear Brand Ranch, it's about new development.

Just as an overview, Bear Brand Ranch is located on the right off of Camino Del Avion and Golden Lantern. This is where Camino Del Avion forms the border of Laguna Niguel and Dana Point. This project is on the ridge of the Capistrano Valley, near where Laguna Niguel, Dana Point, and San Juan Capistrano all come together.

The question is, since the city of Laguna Niguel planning commission has yet to approve the plan, is that the end of the debate? This seems like a challenge, because I'm sure that developers constantly have to deal with some sort of opposition. On the other hand, will the quality of life for the surrounding residents of Peppertree Bend be affected? That remains to be seen.

Labels: Dana Point, Laguna Niguel, San Juan Capistrano, South Orange County Real Estate

Posted by Rory at 7:03 PM | Permalink | Comments | links to this post

A couple days ago, I started my morning ritual as usual with a cup of coffee and a round of reading the latest news and blogs. I was about to read up on the Trulia's Inside Story @ PRU (short for Prudential), but then right when I started, I realized that the story was not what I expected. I felt bad for the Trulia folks, who provide me with awesome map tools, that really help my clients find awesome properties on my website.

I followed their story over to Sellisus
which expounded on the article. Being that I have an affinity for both Trulia, and Sellsius, I naturally left a comment on the story at their respective homes. Within about 5 minutes, Matt, over at Inman News called me to see what my take was on the whole thing.

The result came up in an article on Inman News discussing the whole thing.

Nevermind the fact that I don't know how to relate to Zillow yet, I think that Trulia and Zillow both should be given their shot to educate agents. Maybe the convention was just a bit to rigid of a forum for that, I really can't say. It was a really interesting read with the morning coffee though.

Labels: industry news

Posted by Rory at 2:15 PM | Permalink | Comments | links to this post

When I'm answering questions for people interested in various pieces of Real Estate, one of the most common questions is, "What are the Home Owners' Association Dues?" That is usually followed very quickly by "What does this HOA do?" This is along the lines of thinking, "Why should I even be paying an HOA?"

Take for instance, the community of Lagunita, in South Laguna Beach. Since the community was started in the 1930's some of the homes there were built before the concept of an HOA came into existence. I have had many people guess that the HOA dues are simply to maintain the gated entrance of Lagunita, but I thought that it couldn't be around just for that reason. So I did some digging, and I actually found the HOA website for Lagunita. This gives me an idea of the levels of organization involved in getting construction plans approved in Lagunita at the level of the HOA.

By contrast, other communities such as Crest De Ville, in Laguna Niguel offer not only a gate with a guard, but extensive common areas, association pool, spa and BBQ, and with good reason their HOA dues are higher.

Some of the things that drive HOA dues:
Gated Community
Guard Gated Community
Community Landscaping (mostly in common areas)
Community Parking Enforcement
Association Amenities, such as an association pool, spa, or clubhouse
Maintenance of common buildings, (paint and utilities for the clubhouse)

If these things matter to you, then make sure to ask your real estate agent what the amenities are included, if any. If you could care less about them, then you may consider a different community that may have similar prices, and quality with a different (or fewer) items going into the cost behind the HOA dues.

Of course, when you find "The Home" that's just right, then all of this is secondary.

Labels: Laguna Beach, Laguna Niguel

Posted by Rory at 3:02 PM | Permalink | Comments | links to this post

Recently I received an email reminding me of the travesty of the "Private Transfer Tax"

This comes in the form of an arbitrary tax charged by new-construction builders in an effort to pay off various special interest organizations, or contribute money to causes of their choice.

From a recent email that I received:

Developers Are Tacking Transfer Fees Onto Homes They Build
Senator wants to end "private tax" on homes

NOTE: These fees are not taxes, therefore, they are not listed in the tax portion of your
disclosure reports. The seller must disclose these amounts to the buyer. Information
regarding these fees should be listed in the CC&R's.

State Sen. Lou Correa learned just six months ago that some developers are tacking transfer fees onto homes they build, assessing a charge each time one of their homes is resold from one buyer to the next.

Builders maintain that the fees – ranging from 0.05 of a percent to 1.75 percent of the purchase price – help pay for such amenities as open space, affordable housing and for environmental mitigation.

But the California Association of Realtors calls the fee a "private transfer tax" that sidesteps a state requirement that taxes be approved by voters. : end email..

Private, or arbitrary "taxes" aren't ideal, but are ok, if you know why and when you are paying them. If you are in a real estate transaction, especially if it involves new construction, make sure that you are aware if you are subject to these fees. I would avoid them if you can, and make sure that your agent fully educates you on which areas may be subject to "extra tax".

Posted by Rory at 5:00 PM | Permalink | Comments | links to this post

This post isn't about how to buy me gifts. I'll have to tackle that another time.

I just wanted to give some helpful tips for choosing your Real Estate Agent.
While it is true that most agents are dying to work to sell you a house, not all are equal in that effort.

1) Pick an agent whose ethos is to WORK FOR YOU. Simply stated, you don't want an agent who is going AT YOU. Though it is the agent's job to perhaps stretch the boundaries of your market knowledge in order to get you a well rounded understanding of what is available.

2) Interview them for their job while you're out at open houses. Most folks looking for an agent want someone who knows the market well, test your agents market knowledge by asking a few questions about the area, or the comps.

3) Press for the "insider information". Agents are sometimes unwilling to share the inside information unless they can properly brand it, or market it to you. This fear stems from the problem that if they let you drive by a listing, or give you some marketing information that isn't direct from the MLS, that you will run off and contact another agent. Put the agent at ease and let them be your employee, they will happily provide you with the freshest market information, and new listings without fear.

4) Tell them what you are looking for, and see what they give you in return. If you want a 4 bedroom home with a large lot, see how many they can provide you in short order. If they don't have a couple in mind, it is ok, they may be focused on a different "band" of the market. Most agents will have you in mind before they see the new listings, or when they preview new listings.

5) Look for a matching personality. If an agent is talking your ear off, but not giving any real information, fire them.

Posted by Rory at 2:52 PM | Permalink | Comments | links to this post

After I subscribed to the Trulia API the other day, I expected to pile it on top of another heap of APIs that I don't use such as Zillow API, and the Google Maps API.

For the uninitiated, an API is an application programming interface, and in short, it means that these various vendors make their software available for programmers or real estate agents to make their own tools on their websites.

For instance, Trulia provides RSS feeds, that I have used to produce a list of properties on the market. Of course the MLS provides a more complete and up-to date list os properties on the market.

The difference with Trulia is, they actually emailed and called me! They wanted to find out my opinion of their API. What did we talk about?

Maybe the next best real estate website tool. You'll have to wait and see.

Labels: Trulia

Posted by Rory at 8:07 PM | Permalink | Comments | links to this post

It can be accepted as a general truth that the main thing that keeps a home from selling is price. While many Listing Clients consider a minimum bottom line price for their home a MUST, let's take a look at all of the things that can be changed to make that happen.

Assuming that you absolutely CAN'T Lower your price, Here's What you MUST DO:

1) Do what has worked all along: Hire an agent who will market your property with the most market saturation. Make sure that they are going to hit all of the print marketing necessary to penetrate deep into the market and dig out the buyers.

2) Target 80% of the Market: Make sure that your agent also gets good marketing penetration online. The agent doing this should have several websites, a blog, the agent must monitor their website traffic, and be somehow accountable to you with regard to how many buyers are finding your property online.

3) Sweeten the pot: Discuss a commission structure that will get buyers agents thinking about nothing EXCEPT selling your home. Adding an extra percentage to the buyer's agent commission will have them staying awake at night thinking how they can sell your home.

4) Consider staging: staging your home may be a viable expense for you if you just haven't had the offer quality that you need. This is something to consider if you are getting tons of showings, but NO OFFERS.

5) Find a name you can trust: If top dollar is your goal, it is best not to risk shopping around for a cafeteria plan of real estate services, you need a full service broker, and you need them NOW! If a full service broker already let you down, it's time to start shopping the agents on their individual merits, but choosing a business model in this case that doesn't offer full service, just won't work out.

Labels: home sales, how to, sell

Posted by Rory at 3:38 PM | Permalink | Comments | links to this post

Getting in and out of the main gate of Emerald Bay, in Laguna Beach is definitely tricky. If you are headed northbound on the PCH (Pacific Coast Highway) then getting in is no problem. Then the next easiest entrance into Emerald Bay is while heading Southbound on the PCH into Laguna from Newport Beach. There it is simply a matter of waiting for a gap in the cars to open up.

Once you make it into Emerald Bay, you are treated to some of the most exclusive real estate in South Orange County Map

Residents of Emerald Bay enjoy tennis, basketball, a 24 hour guard gated community.

From a 2005 article on Forbes.com ""The Laguna Life"
"Founded in 1929, Emerald Bay was named for the color of the nearby waters. Over time, it shifted from a low-key beach destination to a very pricey place, indeed. Though some of the older, bungalow-style homes (and longtime residents) remain, their real estate values are anything but modest. It's difficult to find a home for less than $3 million in Emerald Bay."

The article mentions that Emerald Bay is where Warren Buffet has bought at least 2 homes. Currently prices in Emerald Bay range from approximately 3 Million to more than 33 Million.

This is what it takes to get exclusive property with an exclusive beach and magnificent views.

Leaving Emerald Bay can be tricky as well. If you are heading south on the PCH back into Laguna, there is a quick turn to make into the middle of the PCH. So you actually have to dodge oncoming traffic, and quickly turn while accelerating. It is what I imagine to be similar to launching off of an aircraft carrier.

Labels: Emerald Bay, Laguna Beach

Posted by Rory at 7:53 AM | Permalink | Comments | links to this post