ResalesOrange County"s Mission Viejo Offers Sizzling Home Sales
One of California"s largest master-planned communities, Mission Viejo offers a lush lakeside lifestyle, say local Realtors.
"Mission Viejo is located midway between Los Angeles and San Diego," says Realtor Pam Pedego, "and is characterized by lush greenbelts, golf courses, good schools, recreational facilities and Lake Mission Viejo."
Pedego says, "Mission Viejo is in South Orange County and has been rated as one of the safest cities in the United States. With a wide assortment of housing, from condominiums to large custom homes, prices range from $250,000 to four million dollars. Development began in Mission Viejo in 1967, and has continued in phases until the present time. With unemployment at an all-time low in Orange County, Mission Viejo and surrounding housing is in great demand. Lake Mission Viejo, a fresh water lake, provides recreation unparalleled by other communities."
Says Realtor Vicki Lloyd, "Mission Viejo is a beautiful master planned community in South Orange County. There is a good mix of homes, from starter condos, to lakefront mansions, and ranging in age from brand new to almost 40 years old. Local attractions include the Mission Viejo Mall, the large lake where you can fish, swim or sail, two golf courses, and a gorgeous new library!
About the market, Lloyd says, "Mission Viejo has too many buyers and too few homes for sale. The current selection of 62 single family homes on the active MLS has an average list price over $800,000! The average list price of condos has also increased to $431,000 for the 11 that are currently available.
"In the past 30 days, 133 homes have gone into escrow with an average list price of $672,745. During the same period, 56 condos have accepted offers with an average list price of $369,767. With the economy improving, and interest rates relatively low, the probability of continued appreciation is very high. The only thing a buyer can do in this market is to be ready to move quickly when you see a home that you like. Chances are very good that another buyer or two will also like it, so it is critical to be able to make fast decisions, and be prepared to pay over the asking price!"
"Mission Viejo is one of the largest and most successful planned communities in the nation, stretching across 10,000 acres of land," says Realtor Dale Pearce. "Mission Viejo has been able to create a hometown atmosphere because of outstanding planning and its many leisure activities. A 124-acre lake accentuates the recreation facilities that bound in this area. Mission Viejo was the site of the 1984 Olympic bike race and home of the world famous "Natadores" swim team. It was recently recognized as the safest city in California and the second safest city in the nation for the year 2002 based on Part One crime data reported to the FBI."
Pearce adds, "The median sale price for 22 business days ending March 11 was $470,000 in Zip Code 92691 which was up 21.9 percent versus the same period a year ago. The median sale price for Zip Code 92692 was $470,000 which was up 10.3 percent. These prices are equal to the median home price for all of Orange County. There are 119 active listings on the market with 174 properties sold in the last 30 days. This represents a 21-days supply on the market which is considered below the normal of 8-12 weeks."
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