Laguna Beach Home Buying Up Over Last Year

Article Written By: andywilliams

In what seems like its most promising quarter since the real estate crash, Laguna Beach real estate is seeing more buyer activity as 2010 nears the end of its first quarter. On March 15, real estate information provider DataQuick showed that home buying in the South Coast city went up 34% compared to this time last year, even with median prices going slightly higher as a result of fewer distressed homes. While full market recovery may still be some years away, these figures are definitely a step in the right direction.

The rest of coastal Orange County is also going strong, posting a year-over-year rise of 16% in home sales in the same period. This has led experts to believe that beach homes, although among the hardest hit by the housing crisis, are also the most likely to regain their pre-recession status in the next few years. With its beach views and family-friendly neighborhoods, real estate Laguna Beach is easily among the most coveted in Southern California, if not the entire state.

One thing that has contributed to Laguna Beach real estate buying is the percentage of distressed homes in the past few months, which have been historically high. Although it has since gone down, the low median prices—over a third lower than fair market value—have attracted buyers from both in and outside the state, many of them first-timers. For many, it offered a rare opportunity to invest in real estate Laguna Beach, or simply to get their hands on luxury beach homes for relatively cheap.

Government support has also played an important role in increasing buyer activity in the city, as well as the rest of Orange County. With tax credits being offered to both first-time and repeat home buyers, Laguna Beach real estate has become increasingly attractive across various markets. The credit has been extended up to midyear, leading many to believe that the positive streak will continue well into the next couple of quarters.

Ultimately, what will define the outlook on real estate Laguna Beach is whether or not the home buying surge can be sustained. Experts have given mixed opinions on the matter—some take it as a sign of good things to come, while others believe it is still too early to tell. One thing s for sure, however: whether one decides to buy now or wait for smoother economic times, Laguna Beach real estate is always worth the investment.

About the Author

Laguna Beach Realtor provides expert advice and tips for investing in the Real Estate Laguna Beach. For more visit Author's Blog on Laguna Beach Homes: http://lagunarealty.blogspot.com

You Can Link Directly to "Laguna Beach Home Buying Up Over Last Year" by using the url:
http://www.allbestarticles.com//finance/real-estate/laguna-beach-home-buying-up-over-last-year.html

This Article Has Been Published on Tue, 30 Mar 2010 and Read 119 Times

Find All Best Articles at http://www.allbestarticles.com

Rating: Not yet rated

Comments

No comments posted.

Add Comment

You do not have permission to comment. If you log in, you may be able to comment.

Related information on Real Estate

Why do I need a conveyancing solicitor when buying or selling real estate?
London Living: The Best in the World
Real Estate Toronto Neighborhoods and Property Hunting for Leases
The Affordable Secret of Mayfair Office Space
10 Ideas To Follow When Selling Your House
Property in Belgravia - London's Centre of Architectural Splendour
Is Abu Dhabi facing Dubai-like property slump?
Chesire England Serviced Offices.
Find out About Relevant Ideas To Choose Horse Stables
Pros and Cons of locating an office in Mayfair
Things to keep in mind when choosing where to locate an office in London
Guide To Buying A 2 To 5 Million Dollar Home In The Dell In Hollywood
When Selling A Home On Sunset Plaza, Point Out The Exclusiveness For The Fastest Sell
An In-Depth Look At The Toronto Home Market
What a Phoenix Real Estate Listing Will not Show That A Neighbor May
Which are the prime areas for office space in London?
Tips to make the most of your office space
How have commercial property prices in London been affected by the recession?
Benefits of working in Covent Garden
Investment opportunities in Pakistan Real Estate sector
Quit Claim Deed Basics
Dubai The Place To Be In Terms Of Property
Buy House in Philippines
Best way to write professional advertisement for Dubai properties
Things to consider while getting a house on rent