What Do You Get For $1.1 Million?
Not much in the OC
I am celebrating 10 years of happy living in the OC this week after relocating from the Midwest. Granted, I made a 2-year-pit stop in Scottsdale prior to setting down roots in Laguna Niguel – home to pristine beaches, big houses, and lots of greenery, fancy cars and healthy people. It is also a place where real estate reigns supreme right along with plastic surgeons.
When I first moved here, I could not believe my eyes when I saw the home prices. Large billboards touting “from the $1 millions” shouted from their perches along the Pacific Coast Highway. Needless to say, I was aghast – from the $1 millions? Who ever heard of such a thing? Welcome to Southern California. And things have not changed too much in the past decade; homes are still listing for well over $1 million. So, what do you get for that price? Broker Howard Prestidge of Howard, Smith & Partners of Beach, answered my question by simply stating, “Prices haven’t gone down here, but sales are as flat as a pancake at the moment, nothing seems to moving quickly, and from $800,00.00 to $1.5 million is about average for this area.”
He sent me one of his listings, which, as he said, is representative of what a homebuyer can expect to get for that $1 million+ price tag. Check this home out located at 31831 National Park in Laguna Niguel that has been up for sale since May with its 3-bedrooms, 3-baths, sauna, wood floors, and 2,300+ square feet. Sure, it is nice, but back in my native Michigan, this house would probably be half the price. In fact, I think the house that I grew up in would be well over $20 million if it were in the OC.
No joke, considering it was 8,000 square feet, 6 bedrooms, swimming pool, sauna, darkroom, sitting on 1-acre of land with shuffleboard court, trampoline, Jacuzzi, and backed up to a lake.
There is little doubt that Californians pay the price for gorgeous sunsets, living in close proximity to the Pacific and, of course, to boast to our friends back East in mid-January that we are out playing golf with the sun shining brightly. Or, that we have the top down on our convertibles with the wind blowing through our hair as we speed along the Coast. Is it fair? Heck yes. What do you think?
Other Properties for $1+ Million:
12 Terraza Del Mar in Dana Point $1.2 Million 4 Bedrooms, 3.5 baths, 2,973 square feet
24261 Cherry Hills Place in Laguna Niguel $1.4 Million 3 Bedrooms, 2.5 baths, 2,966 square feet
31182 Flying Cloud Dr in Laguna Niguel $1.2 Million 3 Bedrooms, 2 baths, 1,822 square feet
