Values in the Oaks have declined substantially since their highs of a few years ago. The current pricing is now in the low $400,000s to mid-$500,000s range.
Greenbelt in The Oaks
The record for the smallest model, the “A” plan with 2 bedrooms + den and 1560 square feet, sold for $684,900 in July of 2006. For the “B” plan, with 3 bedrooms and 1700 square feet, the record price was $698,000 in February 2006. The “C” plan, with 4 bedrooms & 1880 square feet, sold for $690,000 in March 2005. The rare 2-story “D” plan, with over 2100 square feet, completely missed the big run-up of prices, (none came on the market in 2004, 2005, or 2006) and the highest price ever paid was $532,000 in October of 2007.
All homes in the Oaks have ground floor bedrooms, and gated entries, so they have always appealed to those who want privacy and the convenience of not having to climb stairs regularly. Although the Oaks is not age-restricted, it has always been very “senior-attractive” and the turnover of homes has always been less than other neighborhoods in the area.
The Oaks YTD Sales Report 8-02-2009
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Market activity for 2009 for all Lake Forest II neighborhoods :
Serrano Woods Condos
Lakeside Park Townhomes
The Oaks
Forest Creek
Parkwood Estates
The Woods
Lake Park West
The Lake Forest Keys
Lake Park West
Indian Hills
Serrano Ridge
Ranchwood Homes
There has been no activity in Park Place, Prairie Ridge, or Parkwood Estates II so far this year.
If you would like a personalized estimate of your market value, or have any questions about any of these neighborhoods, please email (Vicki @ VickiLloyd.com ) or call me at (949) 457-0281.
It has been pretty quiet the last week, but yesterday 4 new REO (bank-owned) listings came on the market. There is a waterfront in the Lake Forest Keys priced at $763,900, a 4 bedroom, 2800 square foot house with 3 car garage priced at $579,900 in the Serrano Ridge neighborhood, a 2 bedroom condo in Lakeside Park at $255,000 and a 4 bedroom in the Oaks priced at $474,900.
These are all aggressively priced and are not expected to last very long. Call me if you would like to see any of them.
Lakeside Park Homes in Lake Forest
Lake Forest Keys Homes in Lake Forest
Serrano Ridge Homes in Lake Forest
The Oaks Homes in Lake Forest
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