The data cover the 22 business days ending May 14.Notice that just two South County ZIPs recorded year-over-year increases in houses to rent in redditch ,in the median price of a home sold during this period: 92624 in Dana Point. Since that area’s sales are down, that means that no ZIP in South OC saw both an increase in sales and properties for sale in redditch , and median price compared to last year.But, Lake Forest, RSM and Foothill Ranch are now positive in terms of year-over-year sales volume. Laguna Beach and Dana Point (92629) – two of the area’s top luxury enclaves – both performed poorly. Coto/Trabuco Canyon did comparably better in this snapshot, but both median price and sales volume were down. 1 comments Labels: home stats, South OC Friday, May 30, 2008 Thanks for hanging in there… …While we were out for an extended Memorial Day trip. We’ll be back up and running real soon – hope you’re having a good week! 1 comments Labels: Site update Sunday, May 25, 2008 41% off in Laguna Hills Can you imagine paying more than $500,000 for this 1,213 sq-ft, 29-year-old Laguna Hills condo? Someone did in 2006. A relatively small percentage of people in America could have been able to afford this property using conservative (historical) lending standards.But, more people can afford this place at its current – and much lower – price. The question is whether or not anyone wants it now, or if they are waiting for it to drop further.22512 Caminito Costa #9, 92653Asking price: $299,000Asking price/ sq ft: $246Income requirement: $74,750Purchase price: $510,000Purchase date: 5/1/06Size: 3 beds, 2 baths, 1,213 sq ft (built in 1979)MLS: S529863 (32 days on Redfin)Zillow Zestimate: $391,5002007 property tax: $4,736HOA dues: $340Type: CondominiumStyle: ColonialStories: 2 LevelsFrom listing: Condo situated near the Irvine Spectrum in the community of Laguna Village. Master bedroom has access to green belt situated in the back of the property. Two car enclosed attached garage. Kitchen has granite counter top. Inside laundry & good size living room. Property close to the 405 & 5 Freeways. Complex has pool, spa, tennis and basketball courts.This condo is affordable to a household making around the median income in Orange County. Do you think this is the type of home that a median income letting agents redditch , warrants (don’t forget to factor the granite countertops into your decision)?This looks like the least-expensive property in the Laguna Village complex. Others include houses redditch , 23235 Caminito Andreta #48, which sold at the peak for $475,000 but went back to the bank for $196,989 and is for sale asking $309,900 (35% discount).At least two properties nearby are for rent: 23422 Caminito Flecha is asking $1,995 per month, and 23395 Caminito Juanico #298 is asking $2,150. If we assume our subject would rent for $2,000 per month, this property would be valued at $320,000 to an owner-occupant, using a target GRM of 160. Rental parity shows itself again!Assuming our subject property can actually be sold for the full asking price (remember, this is a short sale that has been significantly discounted), the loss would be $228,940, including 6% sales costs.