The 80’s Are Back

 Photo courtesy of Styledash.com

While So Cal has been known to push the fashion envelope and preview and dabble with the latest fashion trends, I have noticing a disturbing shift – the 80’s.

Yep, leggings, stirrup pants, and bright, bold colors are making their way back into prominent wardrobes.  Apparently enough people didn’t learn the first time and have decided to take part in another fashion disaster again. 

But alas, the fashion is not the only part of the 80’s we’re facing right now.  The real estate market is heading back in that direction quickly!  According to Housingwire.com the market for resale homes is as slow as it was back in 1988.

Other notable and discouraging bits of information: 

• Southern California saw comparatively much more foreclosure resale activity, relative to Northern California; Los Angeles and related areas in the southern part of the state saw foreclosures make up 41.1 percent of all resales, while Northern California saw 28.7 percent of resales represented by foreclosures.
  
• Around half the drop in median was due to depreciation, DataQuick said, with the other half due to shifts in the types of homes selling, and how those homes are financed; this is a critical point in assessing true price performance in any local market, and in California, indicates that absolute dearth of lending in the so-called jumbo mortgage market.

Some of the worst victims on the market today in Mission Viejo:

28051 Via Machado
2 beds / 2 baths / 1,437 Sq Ft
Listed at:  $427,000
DOM:  530 Days

28262 Driza
4 beds / 3 baths / 3,327 Sq Ft
Listed For:  $898,000
DOM: 747

131 Valley View Ter
2 beds / 3 baths / 1,1656 Sq Ft
Listed For:  $384,900
DOM:  462

28092 Tefir
5 beds / 4.5 baths / 3,782 Sq Ft
Listed For:  $1,650,000
DOM:  439