Mello Roos Taxes Might Be Ending Soon

Recently Orange County officials have promised to end the special Mello Roos taxes for Ladera Ranch and some surrounding areas. Officials have also stated they plan to end Mello Roos taxes in the cities of Foothill Ranch, Rancho Santa Margarita, Coto de Caza and Newport Coast. Mello Roos taxes are a special assessment bond to help pay for infrastructure for new communities. This includes things like police and fire stations, parks, schools, utilities, roads, storm drains, etc. Home owners in Ladera Ranch have been paying Mello Roos taxes yearly since around 1999 which is when the first build out of new homes began selling. 

So when do the Mello Roos taxes actually end? The Mello Roos taxes will end in Ladera Ranch after the bonds are paid off in August 2029 through August 2034, according to information provided by Orange County officials. The newer community of Esencia in Rancho Mission Viejo to the south will have much longer to wait until their Mello Roos taxes are paid off estimated from August 2045 - August 2050.

The most expensive home to ever be listed in Ladera Ranch has recently hit the market. The home is located at 7 Rickie Lane in the gated community of Covenant Hills in Ladera Ranch. The home which is the most expensive ever is listed for $10,599,000! The highest sale ever recorded in Ladera Ranch (according to the multiple listing service) was sold in August 2021 for $4,950,000. This makes the new listing at 7 Rickie Lane more than twice the sales price of the highest sale ever recorded in Ladera Ranch.

7 Rickie Lane is one of the largest homes located in Ladera Ranch with 4 bedrooms, 7 baths, 8910 sqft of living space, on an 18,640 sqft lot. The home has been completely renovated in the last year and also has a media room, an office, gym, wine cellar, pool/spa, and in door/out door living spaces. The subterranean garage accommodates up to 10 vehicles. This home is one absolutely one of the most luxurious homes to ever be listed in Ladera Ranch. To take a look at the homes pictures click on this link: 7 Rickie Lane, Ladera Ranch.

If you're interested in any of the luxury homes for sale in Ladera Ranch please give us a call today 949-412-3515

The last home lots located in the gated community of Covenant Hills in Ladera Ranch were just sold to a builder. The New Home Company acquired the last 8 lots and will be adding them to their previous build the 'Sky Ranch Collection'. Construction is planning to begin near the end of March. Sky Ranch was a collection of 28 custom quality homes which were highly praised for their style and architectural design. The homes will be both single level and two stories with up to 6 bedrooms and baths and 4,500+ square feet of living space. Pricing for the homes are expected to start in the low to mid $2 million range. If you're interested in the last newly constructed homes on Ladera Ranch please reach out to us at 949-412-3515.

Where did all the Ladera Ranch homes for sale go? The inventory of homes for sale in Ladera Ranch is abysmally slim with only 21 Active properties for sale. That's shockingly low; in a regular real estate market there are usually 100 - 200 homes for sale on the market in Ladera Ranch. So what's going on? Why aren't home sellers putting their homes on the market for sale? 

There are a number of factors that have created this buyers nightmare of a situation. The most obvious reason is Covid-19. Due to Covid-19 many would-be home sellers are opting to not list their homes for sale. They're worried about contracting the virus when perspective buyers walk through they're home possibly spreading germs. This factor more than likely won't change this year until the vaccine is widely distributed near the end of 2021.

Another major factor is how incredible low home loan rates are right now. Tons of buyers have flooded the market trying to find a home so they can lockdown a super low interest rate while they last. As a result we have tons of buyers vying for very few properties. Most properties that are coming on the market are receiving multiple offers in the first week often pushing home prices over the sellers asking price. So right now we have a very strong sellers market.

If you've been thinking about selling your home now is an excellent time. Buying right now is a challenge, just make sure you have all your ducks in a row before you start looking at properties in person. This means getting preapproved for a home loan ahead of time and making sure you have enough cash on hard for a large down payment if possible. Give me a call 949-412-3515 if you'd like to sell or buy a home!

Ladera Ranch Market Update  

The Summer of Covid-19 has proven to still be hot for real estate in southern California. Let's compare what the market looks like in July 2020 compared to last year, July 2019. In Ladera Ranch there are now only 63 homes for sale, down from 138 homes this time a year ago. 44 of the homes for sale are single family residences, 14 are condominiums, and 5 are townhomes. Out of the 63 homes for sale all of them are standard sale or equity sales. There are no bank owned, short sale or auction homes available. Around 71.4% of the homes for sale in Ladera Ranch are listed for over $700,000 right now. Home loan rates have remained very low (below 4%). The average rate for a 30-year fixed mortgage around 3.40%.

The average price of a home for sale in Ladera Ranch has increased from a year ago to 1,391,295. Last year the average price for July was $1,202,177. Regardless of the pandemic, prices indeed have slowly continued to rise. The average days a home is on the market in Ladera Ranch is only 56 days. This is due in large part to a super lower inventory of homes for sale. The inventory is super low with only about 2.00 months of home supply at the current buying pace. An inventory of 3-4 months of supply is considered the average, so at 2.00 months of supply is super low favoring sellers. The average sold price verse the average list price remained relatively the same around 97.92%. Covid-19 is seen as the primary reason the home inventory is super low. Owners in large part don't seem to want to sell during the pandemic. 

If you want a free property valuation of what your home could sell for or interested in looking at the homes currently for sale give me a call 949-412-3515 Scott Bingham.

Sky Ranch Wins Architecture Awards!

Sky Ranch the newest neighborhood in the gated community of Covenant Hills located in Ladera Ranch has just won two architectural awards. The two awards were given at SoCal Awards—the annual gala that recognizes the Southern California home building industry’s best in design, sales, marketing and professional achievement. The New Home Company which built the homes won the awards for 'Best Architectural Series' (Sales Price Over $1 Million) and 'Best Model Complex Landscape Design'. Sky Ranch is a limited collection of 28 luxury residences featuring exceptional architecture and dramatic coastal and city light views. The home range in size from 5-7 bedrooms, 5-8 baths, and between 4,500 - 8,800 sqft of living space.

 See what's currently available in Sky Ranch -> Sky Ranch Neighborhood Homes for Sale

Ladera Ranch Lender’s Corner – 2019 Q4

RATES, RATES, RATES!

Over the past several months, mortgage interest rates have been hovering at or near 3-

year lows. Unless you’ve been living under a rock, you most certainly have been

hearing about interest rates in the news, on the radio, or just overhearing conversation

out in public. The buzz is warranted because it affects all of us! If you’re still looking to

get into the market, these lower rates mean you can afford a bigger, nicer house. If you

already own a home, you can refinance and lower your payment.

The million-dollar question I get daily: what do you think will happen to rates? We are

officially in election season and the current President (love him or hate him) has built

low rates into his campaign platform, so I believe he will do everything within his power

to keep policies favoring lower interest rates. Additionally, you have major global

instabilities like Brexit and the recent military conflicts in the Middle East and you have a

recipe for investors to keep their money parked in Mortgage-Backed Securities, which

drives rates lower.

“Slow Season”

Historically speaking, the real estate market tends to slow down during the winter

months. This is mostly because of holiday season grade school calendars. Most people

don’t want to make a big transition until the summer. What does this mean for you, a

potential buyer? This usually means you can find some better deals during the winter

plus you often have less competition for the house of your dreams. My suggestion: take

this time to get your financing in order (get fully pre-approved) as early as possible.

Don’t let those deals or these interest rates pass you by!

Want to know more?

I would love to chat about this with you some more. I absolutely love what I do and get

excited “geeking out” about the mortgage industry! If you’re ready to find out what your

purchasing power is and what it could look like to purchase, feel free to give me a call,

shoot me a text, or email me any time:

Jared Price - Senior Mortgage Advisor - NMLS #957754

cell: 408-833-9258 - email: jared@pricemortgagecorp.com 

Ladera Ranch Market Update  

Fall has officially arrived which is typically the start of the slower season for real estate in southern California. In Ladera Ranch there are now 110 homes for sale, down from 131 homes a month and a half ago. 73 of the homes for sale are single family residences, 22 are condominiums, and 15 are townhomes. Out of the 110 homes for sale 104 of them are standard sale or equity sales, 1 home is up for auction, there are 5 short sales, and 2 bank owned home. Around 66.3% of the homes for sale in Ladera Ranch are listed for over $700,000 right now. Home loan rates have remained very low (below 4%). The average rate for a 30-year fixed mortgage around 3.80%. The FED announced it won't be raising rates anymore this year.

The average price of a home for sale in Ladera Ranch has increased to $1,202,177. The average price in up from last month since more expensive larger homes are now for sale. The average days a home is on the market in Ladera Ranch has increased from 72 days on the market to now be 84 days. Home inventory has remained about the same as we've entered the last few months of whats usually the busy season of real estate. The inventory remains relatively the same around 3.40 months of home supply at the current buying pace. An inventory of 3-4 months of supply is considered the average, so at 3.40 months of supply it's a healthy market and not favoring sellers or buyers. The average sold price verse the average list price remained relatively the same around 98.19%.

If you want a free property valuation of what your home could sell for or interested in looking at the homes currently for sale give me a call 949-412-3515 Scott Bingham.

Ladera Ranch Market Update  

Summer is coming to a close as kids have gone back in school this week. In Ladera Ranch there are now 131 homes for sale, slightly down from 138 homes a month ago. 86 of the homes for sale are single family residences, 32 are condominiums, and 13 are townhomes. Out of the 131 homes for sale 124 of them are standard sale or equity sales, 2 homes are up for auction, there are 3 short sales, and 2 bank owned home. Around 63.3% of the homes for sale in Ladera Ranch are listed for over $700,000 right now. Home loan rates have recently dropped to a 2 year low! The average rate for a 30-year fixed mortgage around 3.95%. The FED announced it won't be raising rates anymore this year.

The average price of a home for sale in Ladera Ranch has decreased to $1,165,030. The average price in down from last month since more condos and townhomes are now for sale. The average days a home is on the market in Ladera Ranch has increased from 69 days on the market to now be 72 days. Home inventory has remained about the same as we've entered the last few months of whats usually the busy season of real estate. The inventory remains relatively the same around 3.40 months of home supply at the current buying pace. An inventory of 3-4 months of supply is considered the average, so at 3.40 months of supply it's a healthy market and not favoring sellers or buyers. The average sold price verse the average list price remained relatively the same around 98.00%.

If you want a free property valuation of what your home could sell for or interested in looking at the homes currently for sale give me a call 949-412-3515 Scott Bingham.

Ladera Ranch Market Update  

Summer is in full swing as we enter the last part of July. In Ladera Ranch there are now 138 homes for sale, up from 128 homes a month ago. 93 of the homes for sale are single family residences, 35 are condominiums, and 10 are townhomes. Out of the 138 homes for sale 133 of them are standard sale or equity sales, 2 homes are up for auction, there are 2 short sales, and 1 bank owned home. Around 65.2% of the homes for sale in Ladera Ranch are listed for over $700,000 right now. Analysts are expecting home price to level off this year throughout southern California. Home loan rates have recently dropped to a 2 year low! The average rate for a 30-year fixed mortgage around 4%. The FED announced it won't be raising rates anymore this year.

The average price of a home for sale in Ladera Ranch has decreased to $1,280,662. The average price in down from last month since more condos and townhomes are now for sale. The average days a home is on the market in Ladera Ranch has decreased from 83 days on the market to now be 69 days. Home inventory has remained about the same as we've entered the last few months of whats usually the busy season of real estate. The inventory remains relatively the same around 3.40 months of home supply at the current buying pace. An inventory of 3-4 months of supply is considered the average, so at 3.40 months of supply it's a healthy market and not favoring sellers or buyers. The average sold price verse the average list price remained relatively the same around 98.00%.

If you want a free property valuation of what your home could sell for or interested in looking at the homes currently for sale give me a call 949-412-3515 Scott Bingham.