San Clemente's residential real estate prices have weakened slightly after being flat for 14 months. Prices had fallen almost 1% per month on average in 2008, 2009 and 2010. Distressed properties (Bank owned and short sales) - while less than most inland California communities - are currently about 35% of new listings and about 45% of closed sales. The inventory of homes for sale has stabilized, including "immediately buyable" (non-short sale) homes. See Latest Market Statistics at MCotter.com.
ZIP Codes: 92672, 92673 Location Characteristics: Half way between Los Angeles and San Diego, San Clemente was envisioned by Founder Ole Hanson in 1925 as a "Spanish Village" in the manner of old Spain. Over 206 original Spanish structures survive to this day, and San Clemente has grown into a very attractive beach town of about 68,000 citizens, with nine main residential areas including the most recent, Talega. In a full-page article in The New York Times, San Clemente was called "A Renaissance of Charm in a Hub of the Surfing World."
About Mike Cotter:
A real estate broker since 1981, Mike has bought, managed, operated and sold single family homes, condominiums, vacant land, income units, commercial buildings and business opportunities. He has built homes, refurbished buildings, put together groups to buy real estate and taught real estate courses. Mike is currently President of the San Clemente Historical Society and a Director of the San Clemente Downtown Business Association. Mike is also a regular real estate columnist for the San Clemente newspaper, the Sun Post News, and is frequently quoted in real estate news articles, including the New York Times.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
