Laguna Hills & Mission Viejo Home Values

The numbers are out for the first half of June regarding sales in the OC.  Dataquick’s numbers (as reported in the OC Register) are completely uninteresting to say the least. 

For our neighborhoods:
Laguna Hills – The median value of your home from 2007 has slipped by nearly 32%.  The numbers of sales have increased about 8%.  It seems that there is more movement in the LH’s market.

Mission Viejo – The news isn’t quite as promising.  For ZIP 92692, you’re looking at a smaller loss on your property value honing in around 8% which is quite steady compared to the rest of the county.  There is, however, less movement in the market as the number of sales are down about 26%.  For 92691, the value of homes has dropped far more to around 23% from last year.  Sales, however, are down only about 16%. 

In reporting this information I am starting to feel like a broken record.  It seems all the news I find is more of the same.  That said, I think that this information is not as optimistic as it looks on the exterior.  This is just a reflection of the Spring sales peak. The banks are still loaded with foreclosures that have not even hit the market yet which will only propel prices further downward.  We’ve got a long way to go before the end of this road.