Lake Forest 2 Homes & Neighborhoods

Lakeside Park currently has 11 properties in the active status on the MLS, and 2 that are in escrow.  All of them are either REO (bank-owned, foreclosures) or short sales.

To view the latest activity in Lakeside Park, click on the link:

Lakeside Park Condos Market Report
 

There are currently 2 homes for sale in the Oaks, priced at $619,000 and $664,900.  They each offer 4 bedrooms and over 1800 square feet. 

To view the current listings and all activity for this year, click on the link : The Oaks in Lake Forest – Year to date 2-26-08

So far this year, there has been one closing in Forest Creek and 4 houses that have gone under contract (in escrow now, but not yet closed.)  

There are 3 homes available on the MLS today, but they are all “short sales,” which means that a lender needs to approve the sale price and terms, and there is no guarantee that they will make a decision on any offer in a reasonable period of time. 

To view the year to date activity report for Forest Creek, click here: Forest Creek Homes in Lake Forest YTD Activity 2-26-2008

So far this year, we have had 2 closings, 1 expiration, and 4 properties go under contract in the Lake Forest Keys.  Both of the closed sales were on the waterfront, and sold for less than $800,000 although their original list prices were in the mid-to-high $900s. 

Two of the new “pendings” are point homes, priced at $1,600,000 and $1,395,000.  Since these are recent sales, it will probably be mid-March before the final sales prices are published.

There are currently 14 homes available in the “active” category on the MLS.  They range in price from $569,900 for the small Showcase home on a greenbelt, to the largest Villas Del Lago home on the Arrowhead point for $1,595,000.  The least expensive waterfront home (with dock) is located on the main channel of Arrowhead Lane for $879,000.

Lake Forest Keys YTD Market Activity 2-22-2008

The Ranchwood neighborhood currently has one home available on the MLS,  one in escrow, and one that has sold this year.  Two other homes that went off the market in the fall, have now been foreclosed, so expect them back on the market in the next few months.

Click Here for the latest market update for the Ranchwood neighborhood in Lake Forest California.

The Prairie Ridge neighborhood has been pretty quiet so far this year.  There is currently one home listed for sale on the MLS, and one that expired on January 1st.  Since the expired home was vacant, and it has not come back on the market yet, I am betting that the owner has decided to rent it and wait for a better market to sell in.  Another home that went off the market in October, was foreclosed on January 23, so after the bank does it’s processing, it should come back on the market in the next few months.   

Click here for the latest market activity in the Prairie Ridge neighborhood of Lake Forest California. 

The Parkwood Estates neighborhood currently offers 2 homes for sale through the MLS, and one that is in escrow.  The one in escrow came on the market on a Friday, and was in escrow by the following Thursday.  Market time of 6 days is rare in today’s market, but if it is perceived as a good value, there can be a lot of activity that will result in a quick sale.  This home, built in 1977, was in very close to original condition, but it was priced appropriately.  The floor plan, physical location and amenities of the neighborhood provided the base for establishing the value, even though it needed updating.  

Click here for the latest market activity in the Parkwood Estates neighborhood in Lake Forest California.

The Lake Forest Keys neighborhood seems to be doing better than many others, with only one distressed property currently on the market and one short sale currently in escrow.  The 14 homes that are currently active in the MLS range from $599K to $1.695 Million.  Three of the active homes now are “point homes” (located at the end of the street with lake front on 2 sides of the property.)  The point homes are currently priced at $1.395M (last sold 9/2006 for $1.5M), $1.6M (originally listed for $2.2M in 3/2007) and $1.695 (last sold for $1.395 in 6/2006). 

There are 4 homes currently in escrow ranging in list price from $799K to $965K.    Two properties have been taken off the market since the first of the year, one has been relisted with a different agent, and the other one seems to have given up for now.

Click Here for the latest market activity in the Lake Forest Keys neighborhood in Lake Forest California.