This report is intended to give you an accurate picture of Anaheim Hills Market activity, from current MLS data, as it changes from month to month. Right now, the market is HOT! 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!
As far as Market Activity goes ... Anaheim Hills Real Estate is flying High!
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% 1/18/09 ..... 229 Active/85 Pending - Ratio is 37% 2/17/09 ..... 233 Active/84 Pending - Ratio is 36% 3/26/09 ..... 227 Active/98 Pending - Ratio is 43% 5/15/09 ..... 183 Active/133 Pending - Ratio is 73% 6/12/09 ......170 Active/154 Pending - Ratio is 91% 7/25/09 ......173 Active/144 Pending - Ratio is 83% 8/28/09 ..... 167 Active/141 Pending - Ratio is 84% 10/19/09 ... 156 Active/145 Pending - Ratio is 93%
The Anaheim Hills Real Estate market is positively HOT! Compare the ratio to October 2008!
The only reason I am not calling this a Seller's market is because activity is still heavily concentrated in the lower price ranges. But, it is slowly creeping upward!
Currently, there are only 22 Pending sales (15%) with List prices over $600,000. This is 4 more listings than in my last report.
The highest Pending sale in Anaheim Hills right now is listed at $1,948,000.
As inventory continues to drop, the number of desirable properties drops too! With as many multiple offers as there are today, it is getting harder to actually BUY a house! Good houses go fast!
Shrinking inventory will drive prices up. It won't happen overnight but it is beginning to happen! Recently enacted, new appraisal guidelines are keeping the lid on prices that are trying very hard to go up! Buyers are often willing to pay far more than the home will appraise for ... but can't! The loan would fall apart!
Financing with excellent rates is available but you have to be able to fully document your qualifications and you must have decent FICO scores. FHA is doing a big percentage of the loans these days and the requirements are more relaxed than with conventional lenders.
Jumbo financing is still a bit difficult to obtain and this is definitely having an impact on the higher end market.
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!!
The overall listing price range for detached homes in Anaheim Hills is $369,900 (3 bdrm-2 bth, 1294 sqft, one story home built in 1976, 2 car garage) at the lower end.
The upper extreme is an elegant mansion listed at $5,000,000 with 8 bedrm/7 bath, 7888 sqft, 3 car garage and built in 2006. Something for everybody!
Only 2 homes listed over $1,000,000 are in escrow. With 34 Actives in this range, and only 2 Pendings, the ratio is a weak 6%. The market is still very slow in this range.
Overall, detached homes under $1,000,000 have an excellent ratio of 88% with 81 Active Listings and 71 in escrow!
The "Best Selling" category is detached homes listed under $500,000. With 15 Active listings and 29 in escrow ... The whopping 193% ratio is almost off the charts! Fantastic activity in this price range! The lowest priced homes are being snapped up faster than they are listed. . Second prize goes to detached homes priced in the $500,000's with 19 Active and 20 Pending for an excellent ratio of 105%!
The $600,000 range came in with a very good 61% ratio (23 Active/14 Pending) which indicates a brisk pace there also! The ratio drops to 43% in the $700,000's (14 Active/6 Pending). The ratio is 50% in the $800's with 4 Active/2 Pending!
There are 6 Active detached listings in the $900's and no Pending sales at this time.
There are currently 41 attached homes on the market in Anaheim Hills. 72 units, or 177% of the number of Active listings, are in escrow. A stunning ratio!! Anaheim Hills townhomes have always been highly sought after and traditionally sell very well!
Active List prices for Anaheim Hills attached homes range from $175,000 to $709,000. The vast majority of attached homes are priced between $200-400,000 and vary greatly in size, amenities and views. But, there are some really large, elegant ones out there also!
***For those of you contemplating making an offer on an Anaheim Hills property ... here is some background information!
Between 8/15/09 and 9/14/09, 54 MLS listed homes in all categories and price ranges closed escrow.
34 Listings had reduced the price at least once by time of closing. 15 Listings had raised the price. 5 Listings did not change the price.
There are three main reason why a list price will be raised. The property had multiple offers and the price was simply bid up. The Seller raised the price to compensate for concessions to the Buyer ... such as Seller paid closing costs. It was a Short Sale and the bank wanted more than the list price which the bank did not set in the first place.
Only 8 closed sales were above $600,000. The remaining 84% were $595,000 and below.
Days on Market (DOM) means the number of days a home is on the market ... from date of listing to being reported as a Pending Sale. Time spent in escrow, but in "Back Up" status counts as active time.
Closed sales in this timeframe, under $1,000,000, had an average DOM of 58 days. Pretty speedy! 27 of these sales (54%) went pending in under 30 days.
Closings over $1,000,000 had an average DOM of 119 days. DOM ranged from 96 to 169 days.
Remember, each sale must be considered on an individual basis .... taking into account Seller motivation, type of sale, pricing, time on the market and many other factors! . Of all closings, 26 homes (48%) closed at 100% of list or higher. The highest sale under $1,000,000 closed at $767,000 as an Equity sale.
The average overall ratio of Sold to List price on Standard Equity Sales (owned by a human being with equity) under $1,000,000 was 98% on 27 sales. The ratios of Sales price to List price ranged from 93% to 116%.
The total number of Equity sales has greatly increased in the past couple of months. Regular Sellers are beginning to realize that they CAN sell their homes today, and relatively quickly too, if they price correctly.
There were 4 closings over $1,000,000. Three Equity sales closed at $1,040,000, $1,050,000 and $1,275,000 with average ratios of 91% of list. One Auction sale in this category closed at $1,135,000 with an 84% ratio.
Short Sales (14) averaged 99% Closed to List price. One home closed at 87%. All other ratios were between 100% and 103%.
Bank Owned homes under $1,000,000 (9) sold at an average of 105% of List price. The highest ratio was 116%. The lowest ratio was 94%.
It seems that, once Sellers arrive at the proper pricing for their home, they usually get pretty close to asking price if not more.
Interest rates are at historic lows! We have been going through a a four year period of depreciation but prices have stabilized and are rising slowly. Well appointed, reasonably priced homes can sell within a week ... but most take a bit longer. Sellers are still negotiating ... except in the lower price ranges where they usually don't have to. Multiple offers are very, very common.
There are some really good bargains out there as competition is still tough for many Sellers who have to sell NOW! Especially if the home is listed over $700,000!
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! The falling inventory means less competition!
It is a great time to be a Buyer because you still have more to pick from and the time pressure to make a decision is not as intense as in the recent past. Unless you are looking under $500,000! Sellers are negotiating, but if priced right, they are getting pretty close to their price or more.
We have returned to a much more normal market! But, it is not yet a true Seller's market! Almost!
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 newer 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 about $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 $40.00/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, complete with a great restaurant, for Mom, Dad and 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. Canyon High and El Rancho Middle School enjoy a very good reputation! All elementary schools are "Blue Ribbon Schools."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.
