THE REAL ESTATE MARKET IS  CHANGING!! 

If you are looking to BUY, SELL or Lease a property, Call The Wright Team at 949-770-9888

Scroll Down to see Our Vacation Rental Homes

 

 

JUST LISTED!

22781 Mariano Dr

Laguna Niguel 92677

Offered at $1,490,000

 

This Property Has It All!!! Completely Remodeled with Unobstructed Panoramic Breathtaking Views!!!! Situated in a Cul-De-Sac in the Prestigious 55+ Community of Monarch Summit 11. Private Courtyard with Lush Landscaping and Porcelain Hardscape. This Home Features 2 bedrooms and 2 baths, approximately 1642 Sq Ft. Light and Bright with an Open and Spacious Floor Plan, Vaulted Ceilings in the Living Room, Dining and Kitchen. The Gourmet Kitchen Features a Large Island with Granite Counter Tops, Quartz Counter Tops, Custom Cabinetry, Breakfast Bar, Stainless Steel Appliances, Recessed Lighting and Skylight. Upgrades Include Porcelain Tile Flooring, Plantation Shutters, Recessed Lighting, Ceiling Fans in both Bedrooms, Upgraded Baseboards, Dual Pane Windows, Water Softener, New Pex Piping, New Water Heater, New Ac and Heating Unit, New Garage Door Opener. Amazing Sunset Views From Your Living Room, Dining, Kitchen and Master Bedroom. Master Bath Features Quartz Counters and New Porcelain Tile Shower. The Second Bath has been Remolded with Stone Counter Top, Wood Cabinetry, Custom Tile Shower. Garage Epoxy Flooring with Ample Storage Cabinets. The Private Patio Features Beautiful Panoramic 180 Degree Wood Canyon View, Mountains And City Lights!!! Monarch Summit 11 Amenities Features a Resort Style Clubhouse, Sparkling Pool and Spa, Outdoor Seating to Enjoy the White Water Coastline Ocean Views!!! Finest Beaches within minutes, Dana Point Harbor, World-Renowned Resorts, Restaurants and Shopping. This Home is in Turnkey Condition and Move in Ready!!!

Click Here to View Property Photos!

For more information or to schedule an exclusive showing, call The Wright Team at 949.770.9888.

Updated: 2/20/24

 

JUST LISTED!

23472 Dorielle Ct

Laguna Niguel 92677

Offered at $2,150,000

 

 

Welcome to your dream home in the prestigious, guard-gated community of Hillcrest Estates in Laguna Niguel! Beautiful upgrades throughout! As you enter through the front door you are welcomed with high ceilings in the entry, formal living and dining room. This stunning home offers exquisite travertine flooring, hardwood flooring, crown molding, plantation shutters, custom built-ins, custom ceiling fans in all bedrooms and family room. There are so many details that show pride of ownership!!! This home features 4 bedrooms and 3 bathrooms, approximately 3183 square feet. The 4th bedroom downstairs has been converted to an office. The gourmet kitchen features granite countertops, stone backsplash, custom cabinetry, dual ovens, center island with a sink and garbage disposal, breakfast bar, recessed lighting and is open to the spacious family room with a stone fireplace and custom built-in’s. Downstairs boasts a private office with amazing custom cabinetry, recessed lighting, plantation shutters and upgraded wood and glass door. Spacious 3 bedrooms upstairs, the master bedroom includes a large retreat area with custom built in cabinets and marble counter tops. Master bathroom features stunning marble throughout, large soaking tub, separate shower, dual sinks and vanity area. Guest bath upstairs has been recently remodeled with new Quartz counter top, sink, new plumbing, fixtures, new electrical and new tile in shower. There is a skylight over the stairs to bring in the natural light. Inside laundry room with lots of cabinets and sink. This home is located in a private cul-de-sac with a large backyard, in ground spa with rock water feature, built in BBQ and large granite counter top. This home has been completely re-piped with Pex piping. This home is in a prime location, close to the finest beaches in Southern California, resorts, shopping and dining, award-winning schools, parks, hiking and biking trails and recreational activities. This property is within a short walk to the popular Aliso Creek Canyon Trail, with amazing views of the canyon and ocean. This property has it all!!! Move in and turnkey condition!!!

CLICK THIS LINK TO VIEW ALL PHOTOS!

 

For more information or to schedule a private showing when property is available, please call The Wright Team at 949.770.9888

UPDATED: 2/20/24

 

 

 

Thinking of selling? Call The Wright Team today at 949.770.9888.  Platinum Edge Properties/Help-U-Sell Wright, a Full Service Real Estate Company offering sellers options tailored to their specific needs that can translate directly to money saved when selling your home. Find out how our team has effectively saved clients thousands since 1982!

 

 

**AVAILABLE VACATION  RENTALS!**

 

VACATION RENTAL

34120 Selva Rd #288

Dana Point 92629

Offered at $7,000 month (Minimum 30 day stay)

VACATION RENTAL ONLY, NOT LONG TERM……Live by the beach and enjoy the magnificent California coastline EVERYDAY! This turnkey, lower level condo is located across from Stands Beach! 2 large bedrooms, 2 full baths (one with jacuzzi jet tub) and 2 private patios to enjoy entertaining or those quiet mornings! This home is fully furnished and ready for your visit! Upgraded kitchen w/ Corian counters, cabinets w/ pull-outs and window that faces outdoors! Open and spacious living room with dining area, custom built-ins, ceiling fans, crown molding and custom shutters! This light and bright home is close to pool/spa/clubhouse! Full sized laundry in unit!

https://bit.ly/2FIydms

Walk to Strands Beach!

Hurry and book your stay!

Call Listing Agent Ed Wright at 949-770-9888 for More Information and Availability.

 

 

VACATION RENTAL!

34021 Violet Lantern St

Dana Point 92629

See Pricing Below!

 

Enjoy the recently remodeled Cottage, an ideal vacation home with tropical landscaping. The Cottage is a single story detached home with front and rear private fenced yards and offers the key essentials for ultimate tranquility. There are sleeping accommodations for up to 6 people. A fully equipped and remodeled Kitchen and bathroom plus a full-sized laundry room are included for your convenience. The rear patio is fully covered and furnished with oversized flat TV. Off street parking is also available.

The Cottage is located in the famous “Lantern District”, the essential heart of Dana Point, a beautiful and uncongested beach community. A 5-minute walk takes you to the town center and local restaurants. Down the street is Dana Point Harbor and Doheny surfing Beach, made famous by the Beach Boys singing group. Being close to the Harbor is one of Dana Point’s greatest joys because it always offers something to do from festivals and free concerts to laid back boat rentals. The Cottage is a great pet friendly alternative to the overpriced resort hotel rooms.

Dana Point, Laguna Beach, San Clemente and San Juan Capistrano have a free interlinked transit “Trolley” system to save parking fees and congestion. The Trolley stop is a ½ block away. The Town Center is around the corner from the Cottage and offers the farmers market on Saturdays plus entertainment and several dining choices. We are half way between Los Angeles and San Diego, a short drive to Disneyland, Knott’s Berry farm, Legoland, Sea World and many more entertainment locations.

Click Here to View Photos!

DAILY/MONTHLY RATES VARY DEPENDING ON THE SEASON:  Rates start at $400.00 per night (Sunday thru Thursday) and $450.00 per night (Friday and Saturday) There is a minimum 3-night stay. The monthly rate is $9,000 per month. Guests must pay a nonrefundable cleaning fee of $200.00. The pet fee is $50 and a refundable security deposit of $500.00. Guests must agree and sign a “Good Neighbor” form required by the City of Dana Point. Permit #17-0734.

Call the owner, Edwin Wright at 949-230-1311 for questions and bookings to stay.

 

Updated: 1/24/24

 

 

 

 

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A growing share of home buyers and sellers sat on the sidelines last year as the pace of home sales continued its downward trajectory.1 In fact, since the Federal Reserve began its series of interest rate hikes in 2022, the combination of higher borrowing costs and record-high home prices has fostered the steepest real estate market slowdown since the 2008 recession.2

 

Priced out of the market, a generation of would-be buyers has been forced to delay their plans for homeownership.At the same time, current owners—reluctant to give up their pandemic-era mortgage rates—are waiting to sell, which has resulted in a sharp drop in listings.4

 

But there may be some relief in sight: In December, the Fed signaled that it was done raising interest rates—and suggested that it could cut rates by 0.75% over the coming year. While mortgages don’t directly follow the federal funds rate, they typically move in tandem—so cheaper home loans may finally be on the horizon.5

 

Lower mortgage rates should bring some much-needed movement back into the real estate sector. But with a market this fluid, the home buyers and sellers with an edge will be those who proactively leverage a real estate agent’s on-the-ground expertise and stay flexible so that they can quickly adapt to changes.

 

What does that mean for you? Read on to learn more about the current state of the U.S. housing market, the potential opportunities for buyers and sellers, and economists’ predictions for the year ahead.

 

 

HOME PRICES WILL REMAIN RELATIVELY STABLE

 

Not even 8% mortgage rates could bring home prices crashing down in 2023, as some prospective home buyers may have hoped. In fact, on average, U.S. property values ended the year higher—with declines in some areas of the country offset by appreciation in others.6

 

Prices typically fall when rising interest rates drive down demand. So what’s keeping home values high?

 

Mike Simonsen at Altos Research points to a nationwide housing shortage: “Declining home prices probably require that supply-and-demand imbalance, and what we have is really a balance. There’s a balance between low demand and low supply.”7

 

Analysts expect that equilibrium to continue to prop up home prices in 2024, although the specific forecasts vary. For example, economists at Realtor.com predict that the median home price will fall slightly, by 1.7%, while those at Fannie Mae project modest price growth of 2.8%.6,8

 

However, experts widely agree: Mortgage rates will be the largest driver of property values. If rates fall faster than expected, more buyers will enter the market—which could send home prices soaring higher.

 

What does it mean for you?  There’s no evidence that home prices are headed for a major decline. So if you’re ready and able to afford a home, this is a great time to test the waters. The best bargains are often found in a slower market, like the one we’re experiencing right now. Contact us to discuss your goals and budget. We can help you make an informed decision about the right time to buy.

 

And if you’ve been waiting to sell your home, this could be your year. Price growth has slowed, so now is the time to maximize your equity gains while minimizing your competition. Contact us for recommendations and to find out what your home could sell for in today’s market.

 

 

MORTGAGE RATES SHOULD FINALLY TREND DOWN

 

The best news we’ve got incoming for 2024? The extra-high mortgage rates that have weighed heavily on the real estate market may finally be headed south.

 

At its December meeting, the Fed signaled that the worst is likely behind us and that it expects to cut its overnight rate in 2024. Analysts predict that mortgage rates will fall in lockstep.5

 

“Given inflation continues to decelerate and the Federal Reserve Board’s current expectations that they will lower the federal funds target rate next year, we likely will see a gradual thawing of the housing market in the new year,” said Freddie Mac’s Chief Economist Sam Khater following the announcement.9

 

The average 30-year fixed mortgage rate has already declined from an October high of around 8%, and analysts at Fannie Mae, the Mortgage Bankers Association, and Realtor.com all forecast that rates will trend down this year, ending 2024 closer to 6%.7

 

However, it’s not all good news: It appears that the days of 3% mortgage rates are firmly behind us. “As long as the economy continues to motor along, the new normal of higher rates is here to stay,” explains Greg McBride, chief financial analyst for Bankrate.4 So, when it comes to a home loan, borrowers may need to adjust their expectations.

 

What does it mean for you?  If you’re a prospective home buyer, declining mortgage rates could give you the opportunity to lock in a more affordable monthly payment. And if you purchase before the market reheats, you could secure an especially good deal. To find the lowest rate, it pays to compare lenders. Ask us to refer you to a mortgage broker who can help you shop around for the best option.

 

Sellers also have reason to celebrate buyers’ lower interest rates: As the barriers to entry to the housing market decline, they could enjoy more or better offers. Reach out to discuss how we can help you maximize your home’s sales potential.

 

 

LOWER RATES WILL BRING SOME BUYERS AND SELLERS BACK TO THE MARKET

 

Over the past couple of years, higher mortgage rates have cooled home buyer demand. They’ve also delayed the plans of many home sellers, who have been reluctant to trade in their current mortgages for loans that are several points higher.

 

With so many market participants playing the waiting game, the real estate sector has slowed significantly. National Association of Realtors (NAR) Chief Economist Lawrence Yun estimates that the number of existing home sales fell by 18% last year following a 17% decline in 2022.10

 

However, as financing costs tick down, sales volume is expected to rise. “Lower mortgage rates would help spur home sales activity, which [is] expected to increase in 2024 compared to 2023,” explains Selma Hepp, chief economist at CoreLogic. “Declines in mortgage rates will drive more sellers to trade their existing home and help add much-needed inventory to the market, leading to more transactions.”4

 

There’s also evidence that the patience of holdout home buyers may be waning, despite higher borrowing costs. A recent survey by Bank of America found that the number who are willing to wait for prices or mortgage rates to decline before making a purchase fell from 85% to 62% in just six months.11

 

“When it comes down to it, if buying a home is your goal and within your budget, the best time to buy is when you’re ready financially and you can find a home that fits your needs,” Matt Vernon, head of consumer lending at Bank of America, advised in a recent release. “Even in the current interest rate environment, there are clear benefits to purchasing a home and beginning to build equity.”11

 

What does it mean for you?  If you’ve been waiting to buy a home, you might want to consider purchasing before the competition picks up. Pent-up demand could bring a flood of buyers back into the market as mortgage rates decline. Contact us if you’re ready to begin your home search.

 

If you’re hoping to sell this year, you may also want to act fast. An increase in listings will make it harder for your home to stand out. We can help you chart the best course to maximize your profits, starting with a professional assessment of your home’s current market value. Reach out to schedule a free consultation.

 

 

THE HOUSING SUPPLY SHORTAGE WILL PERSIST

 

Will home buyers who are eager for options have more homes to choose from this year?

 

Yun thinks so. He believes sellers will soon grow weary of waiting to list. “Pent-up sellers cannot wait any longer. People will begin to say, ‘life goes on,’” the NAR economist speculated at a November conference. “Listings will steadily show up, and new home sales will continue to do well.”10

 

But not everyone agrees. Economists at Realtor.com forecast that inventory could drop by as much as 14% this year. The decline in existing homes for sale has been compounded by a persistent shortage of new construction, with single-family housing starts falling 10.3% in 2023 and 11.2% in 2022.6

 

Even so, newly-built homes are playing an increased role in easing the supply crunch, accounting for around one-third of all homes for sale in 2023—which was twice the historical average.12 But new construction alone isn’t expected to fill the inventory gap.

 

According to First American Financial Corporation’s Chief Economist Mark Fleming, the U.S. currently has a shortfall of around one million homes, and conditions won’t ease until individual owners re-enter the market. “Only when more homeowners decide to sell, and then buy again, will housing supply and the pace of sales return to anything resembling normal.”13

 

​​What does it mean for you?  Inventory remains tight, but buyers can benefit from the search expertise of a real estate professional. We can tap our extensive network to access off-market and pre-market listings while helping you explore both new construction and existing homes in our area.

 

While sellers will continue to benefit from the low-inventory environment, they should be prepared to compete against brand-new homes. We can help you prep your property for the market and highlight the features most likely to appeal to today’s buyers.

 

 

WE’RE HERE TO GUIDE YOU

 

While national real estate forecasts can give you a “big picture” outlook, real estate is local. And as local market experts, we know what’s most likely to impact sales and drive home values in your neighborhood. As a trusted partner in your real estate journey, we’ll keep our ears to the ground so that we can guide you through the market’s twists and turns.

 

If you’re considering buying or selling a home in 2024, contact The Wright Team at 949.770.9888 to schedule a free consultation. Let’s work together and craft an action plan to meet your real estate goals.

 

 

The above references an opinion and is for informational purposes only.  It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.

 

Sources:

  1. CNN –
    https://www.cnn.com/2023/10/19/homes/existing-home-sales-september/index.html
  2. Goldman Sachs –
    https://www.gspublishing.com/content/research/en/reports/2023/10/23/2d814362-a656-4cb3-8586-bea8591188e3.html
  3. ABC News –
    https://abcnews.go.com/US/millennials-priced-homeownership-feeling-pressure/story?id=105032436
  4. Bankrate –
    https://www.bankrate.com/real-estate/housing-market-2024/
  5. CBS News –
    https://www.cbsnews.com/news/interest-rates-are-paused-heres-why-thats-good-news-for-homebuyers/
  6. com –
    https://www.realtor.com/research/2024-national-housing-forecast
  7. NerdWallet –
    https://www.nerdwallet.com/article/mortgages/2024-homebuying-trends-property-line-november-2023
  8. Fast Company –
    https://www.fastcompany.com/90991612/home-price-2024-outlook-fannie-mae
  9. Freddie Mac –
    https://freddiemac.gcs-web.com/news-releases/news-release-details/mortgage-rates-drop-below-seven-percent
  10. National Association of Realtors –
    https://www.nar.realtor/newsroom/nar-chief-economist-lawrence-yun-forecasts-existing-home-sales-will-rise-by-15-percent-next-year
  11. Bank of America –
    https://newsroom.bankofamerica.com/content/newsroom/press-releases/2023/12/bofa-report-shows-fewer-prospective-homebuyers-willing-to-wait-f.html
  12. Marketplace –
    https://www.marketplace.org/2023/11/27/mortgage-rates-new-home-sales/
  13. First American –
    https://blog.firstam.com/economics/whats-the-outlook-for-the-housing-market-in-2024

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