With homeprices rising so much faster than salaries, agents in Anaheim Hills, California are beginning to see a slight slowdown in housing activity.

"It's been a great run," says Realtor Paula Barrett. "The Wall Street Journal (6/14/04) indicates that home prices have climbed an average overall of 40 percent in the last three years.

Barrett advises, "Homeowners need to face a new reality. The market is changing. Home prices are likely to yield a less impressive return, and the market is slowing to catch its breath. Evidence indicates that the home prices will continue to appreciate in most cities at a slower pace than in the past. You can navigate your real estate investments to your advantage with the right amount of research and choice of Realtor."

Observes Realtor Robyn Filippo, "We are starting to see the beginning of the seasonal shift for the holidays. Homes that have been on the market for 90 days or longer are having to adjust their prices, condition and offer full 3 percent commission to bring buyers in. Prices are leveling off. We don't anticipate a large drop in the market, only a readjustment period. Sales have cooled to a more relaxed pace."

She adds, "Prices in the 92807 zip code are up 17 percent from a year ago and sales volume is down 52.0 percent from a year ago. Prices in the 92808 zip code are up 6.5 percent from a year ago and sales volume is down 24.01 percent."

But Realtors don't believe a slowdown will last for long.

"Anaheim Hills is famous for it's view homes and serene, manicured setting," says Realtor Marlene Prescott. "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.

Prescott explains, "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 sq.ft.! 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, often huge, homes, usually on very large lots, that command $1,000,000 and up. 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. 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 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."

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Published: October 26, 2004

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