Yorba Linda, in California's Orange County, offers a wide variety of real estate from condos to horse farms, and prices are rapidly appreciating, say local Realtors.
"Yorba Linda is an upscale city with a market that is very rapidly appreciating," says Realtor Dan Kaatz. "If you are looking for an area that offers horse property in North Orange County Yorba Linda is the place for you. Yorba Linda features condos, townhomes and single family homes starting in the low $200,000's all the way to multi-million dollar mansions in the hills with extraordinary views to Catalina Island on a clear day."
Says Realtor Anthony Castellano, "Last month's sales up to June 24th show 98 listings sold in the Yorba Linda area at a median price of $433,000. This number includes 27 condos sold at a median price of $264,000. With 68 percent of the listings selling in 30 days or less, sellers are reaping the rewards of multiple buyers for their properties."
And rising home prices and sales look as if they will continue.
"Yorba Linda is a suburban city of approximately 60,000 people, nestled in the extreme Northeast corner of Orange County," explains Realtor Marlene Prescott. "Part of an early Spanish land grant to the Yorba family, the city's name literally translates to "Beautiful Yorba" as its rolling hills were considered the loveliest part of the old ranch."
She says, "As of 5/8/03, there were 149 residential properties on the market for sale ... that is almost exactly the same as reported four months ago! Only 18 of these are attached homes with a price range of $189,500 (for a 1 br - 1 ba - single story near the Nixon Library) to $355,000. Most of the townhomes are three-bedroom units located in central Yorba Linda. Some have great views! As of 5/8/03, there were 134 single-family detached homes on the market ranging in price from $365,000 to $2,999,000. Most of the available Yorba Linda homes(109) are listed over $500,000. Of this number, 23 homes are listed over $1,000,000. However, there are many lovely properties, in great neighborhoods, priced below that figure. Incidentally, there are No "bad" neighborhoods in Yorba Linda. Homes in Yorba Linda command higher prices than most surrounding areas."
Advises Prescott, "Inventory has decreased since the late fall season. Prices seem to have leveled off a bit but are still increasing. Price reductions occur if initial listing prices are too high. Buyer activity is high. The market is still very hot! If a home comes on the market, and it is well located, well appointed and well priced .... it will be sold within a week. Multiple offers are common but not as frequent as in early 2002. Extremely favorable interest rates, at their lowest level in years, continue to fuel the market!"
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Published: June 26, 2003
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