This report is intended to give you an accurate picture of Anaheim Hills Market activity, based on current MLS data, as it changes from month to month. Also ... I want you to know what Anaheim Hills is really like! So, I include a short, subjective description of our beautiful area and all it offers!
My monthly statistics reflect an accurate picture of what is happening on a specific given date. To understand the nature of any long term trend, each report must be compared to my prior reports. I update the reports every 4-6 weeks.
***For those of you contemplating making an offer on an Anaheim Hills property ... here is some background information! Between 8/15/08 and 9/14/08, 63 MLS listed homes in all categories closed escrow.
Remember, each sale must be considered on an individual basis .... taking into account Seller motivation, pricing, time on the market and many other factors! . Of all closings, 22 homes (35%) closed at 100% of list or higher. The highest ratio was 110% on a Bank Owned home. The lowest ratio was 91%.
The average overall ratio of sales to list price on Standard Sales (owned by a human with equity) under $1,000,000 was a bit increased to 97%. The lowest ratio of Sales price to List price was 91% on two homes. The highest ratio was 101% ... also on 2 homes
Standard sales over $1,000,000 claimed only two closings and both sold at 93% Closed to List price.
Short Sales (10) averaged 99% Closed to List price.
Bank Owned homes (19) also sold at an average of 99% of List price. The highest ratio was $110%. The lowest ratio was 91%.
It seems that, once Sellers arrive at the proper pricing for their home, they usually get pretty close to asking price.
The following is a bit of recent history showing Anaheim Hills Active total inventory, number of total Pending listings and the ratio of Pending to Active:
8/22/07: .... 452 Active/49 Pending - Ratio is 11% 10/3/07: .... 426 Active/33 Pending - Ratio is 8% 11/27/07: .. 414 Active/40 Pending - Ratio is 10% 1/25/08: .... 369 Active/38 Pending - Ratio is 10% 2/23/08: .... 335 Active/65 Pending - Ratio is 19% 3/23/08: .... 323 Active/80 Pending - Ratio is 25% 4/29/08: .... 330 Active/96 Pending - Ratio is 29% 6/8/08: ...... 309 Active/91 Pending - Ratio is 30% 7/26/08 ..... 297 Active/104 Pending- Ratio is 35% 8/29/08 ..... 290 Active/89 Pending - Ratio is 31% 10/19/08 ... 263 Active/72 Pending - Ratio is 27%
Inventory continues to decline. Supply has decreased a lot since August, 2007. The decline in Pending sales and the ratio is probably due to the difficulty people have in obtaining financing these days!
Financing is still available but you have to be able to fully document your qualification and you must have decent FICO scores. FHA is doing a big percentage of the loans these days.
There is a great "Pent Up Desire to Buy" in Orange County. Willing and Able Buyers have been on the fence waiting for prices to go lower. They seem to have decided they have waited long enough. Now, if the financing picture will just loosen up a bit ....
This will be my last report until after the holidays. Market activity generally slows down a LOT about 11/15 and picks up big time as soon as the decorations are down. My next report, in early January, will probably show both decreased inventory and decreased sales for November and December. It happens every year! . For purposes of this report .... figures include all listings in the 92807 and 92808 zip codes. This includes some listings that are "across the freeway on the Yorba Linda side". While bordering Yorba Linda, and sharing Yorba Linda Schools (also considered to be excellent), these homes are technically Anaheim, 92807. All are great neighborhoods ... they just don't have the views!!
Average overall Days on Market before sale (DOM) is an increased 82 days for all categories and price ranges. However, when you disregard 3 homes that took 370, 401and 410 days to sell ... the remaining 69 homes went pending in 68 DOM.
7 Pending homes were on the market for over 200 days, including the 3 homes mentioned above. 28 properties (39%) went into escrow in 30 DOM or less!
Attached homes had an average DOM of 74 days which is basically unchanged from my last report.
Detached homes under $1,000,000 averaged 89 DOM which is an increased timeframe.
2 homes listed over $1.000,000 are currently Pending. Average DOM in this range was only 25 days!
It is difficult to be accurate regarding "Days on Market before Sale" as some agents do not promptly report sales. If a home was in escrow and fell out, that elapsed time is counted as time actively on the market. Also, DOM figures reflect only the current listing ... a home might have been listed before.
35 Pending listings (49%) had been reduced in price at least once by time of sale. One price had been raised.
The "Best Selling" category is detached homes under $500,000, with 27 Active listings and 18 in escrow ... a whopping 67% ratio! Fantastic activity in this price range! The lowest priced homes are being snapped up almost as fast as they are listed. . Second prize goes to detached homes priced in the $500,000's with 29 Active and 12 Pending for a ratio of 40%.
76% of all Pending sales were listed under $600,000!
Homes over $1,000,000 are sagging a bit with 43 Active listings and 2 in escrow.
There are currently 91 attached homes on the market in Anaheim Hills. 25 units, or 28% of the number of active listings, are in escrow. Anaheim Hills townhomes have always been highly sought after and traditionally sell very well!
List prices on Anaheim Hills attached homes range from $199,900 to $754,900. The vast majority of attached homes are priced between $300-500,000 and vary greatly in size, amenities and views. But, there are some really large, elegant ones out there also!
The overall listing price range for detached homes in Anaheim Hills is $420,000 (4 bdrm-2 bth, 1438 sqft, one story home built in 1971, 2 car garage) at the lower end. The upper extreme is listed at $5,999,000 (5 bedm/7 bath, 10,000 sqft, 7 car garage, built in 1991 on a huge lot in an exclusive gated community). Something for everybody!
There are currently 27 active listings of detached homes under $500,000. 29 properties are in the $500,000's. 38 homes are listed between $600,000-700,000. 18 homes are listed in the $700,000's followed by 11 homes in the $800,000's. Only 6 properties are listed in the $900,000's.
Interest rates are still quite low! We have been going through a three year period of depreciation but prices seem to be leveling out somewhat. Well appointed, reasonably priced homes can sell within a week ... but most take much longer. Sellers are negotiating! This is true in all price ranges except the lowest ones.
There are some really good bargains out there as competition is still tough for many Sellers who have to sell NOW!
Price, terms, location and condition must all be in line with the market for a sale to occur.
Some homes stay on the market quite a while and go through several price reductions. Unless there is some serious flaw in condition or location ... this almost always means they simply came on the market with too high a price for what they are!
It is a great time to sell your home if it is correctly priced!
It is a great time to be a Buyer because you have so much to pick from and the time pressure to make a decision is not so intense. Sellers are negotiating, but if priced right, they are sticking pretty close to their price.
We have returned to a much more normal market! But, it is still definitely a Buyer's market!
Most experts predict that immigration into our area will continue to exceed available housing for years to come. If this is the case, prices again rise over time even if interest rates rise as well. Hopefully, the market will level off into the pattern of slight, constant appreciation that California enjoyed for years ... before the era of extreme up and down market cycles began!
Anaheim Hills is famous for it's view homes and serene, manicured setting! Flowing over the northern slope of the Orange Hills, the area commands vistas of city lights, canyons, the golf course, water and snow capped mountains. On a clear day, it is not uncommon to see downtown Los Angeles and Catalina ... both very far away!
Located in the extreme northeast corner of the City of Anaheim, it is as different from Anaheim proper as night is from day! The zip codes of 92807 and 92808 have come to represent an affluent, peaceful and prestigious life style that is Anaheim Hills.
I can think of no other community that offers such a wide variety of housing types and price ranges. There is truly something for everyone here! Clusters of sophisticated attached homes are liberally sprinkled over the hill and some offer over 2500 sqft! Single family homes, built as upscale tracts from the late 1960's into this century, are the dominant type of property.
You will find custom homes here also. There are several areas that offer truly elegant homes, usually (but not always) on very large lots, that command $1,000,000 and way up from there. And, all these different types of properties melt together and combine beautifully to create the community called Anaheim Hills!
The western part of Anaheim Hills is where you are likely to find the oldest homes ... but there are some newer ones also. The majority of homes in the whole area have been updated and upgraded throughout the years. It is a very upscale area! Most of the homes in the central section were built in the 1970's, as a planned community, but you will find pockets of new construction here as well. The sprawling eastern part of Anaheim Hills consists entirely of homes(large, small, attached and detached) built since 1990. Two new elementary schools have been built in the eastern section.
Anaheim Hills has a generous number of prestigious custom homes ... mansions really ... on oversized lots, scattered in groups throughout the area. Some are gated. Perhaps the best known and the oldest of these is Peralta Hills where the homes are usually on green, wooded and flat one acre parcels and tennis courts are common. The Mohler area features both large and smaller, newer and older homes on huge lots in a more rustic, hilly atmosphere. The list of custom areas with elegant residences is a long one and must be experienced in person!
Anaheim Hills is full of trees, large grassy spaces and beds of flowers! You cannot help but notice how very clean and well ordered the area is!
Most individual tracts have Homeowner's Associations and dues are usually under $100.00/mo. Condos have higher dues but more is covered. The Master Association of Anaheim Hills maintains many public greenbelts and other area features. The majority of homeowners also pay approximately $33.00/mo to this association. However, there are a good number of homes here that pay only one fee, or none at all.
Anaheim Hills is an extremely family oriented community! There is a wilderness Nature Center for hiking and exploring as well as several city parks. Horse lovers can board their animals at a rustic Equestrian Center. There is a huge reservoir at the top of the hill with a path around it for strolling and jogging. And, there is a public golf course for Mom, Dad and older kids! The local community service organizations are very active.
There is relatively little commercial development in Anaheim Hills. The community has excellent access to the 91 and 55 freeways, as well as the tollroad to South Orange County.
The Fourth of July is a big day in Anaheim Hills! The biggest event is a parade, sponsored by community merchants and organizations, that features local marching bands, homemade floats and lots of marching kids in costume! The parade is followed by entertainment, picnics and an after-dark fireworks display in a nearby park!
The schools are part of the Orange Unified School District and enjoy a very good reputation! There is a lot of community support and parental participation in school activities. Kids are very important here!
There is so much to say ... I can't get it all down here! My office, Prudential California Realty, is the premier real estate company in the area. I have been representing Buyers and Sellers in Anaheim Hills since 1982! I know it very, very well! Let me show it to you! You will love Anaheim Hills!
About Marlene Prescott:
Thank you for viewing my Market Conditions report! I have been happily and successfully representing Buyers and Sellers in North Orange County and the Corona area Since 1982. I love Real Estate and it shows!
In 2001, I ranked among the top 6% of all Prudential agents nationwide. I have been affiliated with Prudential California Realty for the last twelve years. The prestige and clout of Prudential, combined with my own expertise and experience, is a winning combination.
You will find me professional and easy to work with! Your questions and concerns will be addressed promptly and completely. A transaction is about you ... and I will always keep your best interests as my primary focus. I really listen to what you say.
I am a native Southern Californian, but went to High School on the Oregon coast before graduating from the University of Oregon. Following graduation, I was a social worker in downtown Los Angeles for eight years before I married and moved to Yorba Linda in 1972. I have a son and a daughter who are both currently living on the East Coast ... I try to visit them often.
I love to garden, read, attend live theater, travel and paint rooms in my house (among other homeowner things). I love my cats and crafts .... and life in general! I am forever searching for a highly scented candle and a good novel with substance!
EMail me at MarlenePre@AOL.com or call me at (714) 998-7250 with any questions you may have about my little corner of the world or our Real Estate market. You will receive a prompt, thoughtful and reliable response!
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
