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Analysis: The Ladera Ranch housing market continues to be influenced by short sale and REO (bank owned) properties with the percentage of both short sale and bank owned homes available and sold during October 2010 increasing. Of the 176 homes on the market as of 10/31/2010, 108 are short sale or bank owned (61%). A total of 30 homes sold during October in Ladera Ranch (including Covenant Hills).

Up to date information on the specific and local Ladera Ranch real estate market is vital for buyers and sellers to make informed decisions about purchasing or selling a home. Data was obtained from the MLS and does not include private sales or manufactured homes. Here is the October 2010 Ladera Ranch Real Estate Market Report:

40 homes came on the market in Ladera Ranch during October (down from 50 in September).

There were 176 homes for sale in Ladera Ranch at the close of October (down from 177 in September).

12 Ladera Ranch homes went in to "Pending Sale" status in October (up from 11 in September).

Data: As of November 22nd there were 104 detached Ladera Ranch single family homes for sale. The median list price of these homes is $677,000. 51 of these active listings are short sales, representing 49% of the total inventory of detached homes for sale in Ladera Ranch. The median price of these short sale properties is $629,000.

There are now 57 Ladera Ranch condos & townhomes for sale as of 11/22/10. The median price for all attached homes for sale in Ladera Ranch is $320,000. 36 of the 57 attached homes for sale are short sale listings. The median price of these short sale units is $307,500. The ratio of short sale condo/townhome listings to the total condo/townhome listings is 63%.

As of November 22nd there were 69 detached homes under contract (in "pending sale" or "backup offer" status) in Ladera Ranch of which 47 are short sales. There were 53 attached homes under contract of which 37 were short sales (70%). .

Over the last three months (August - October) there have been a total of 79 detached homes sold in Ladera Ranch with a median sale price of $635,000. Of this total 22 were short sale properties with a median sale price of $592,500. Short sales comprised 28% of the total homes sold over these three months.

32 attached homes (condominiums and townhomes) sold in Ladera Ranch from August to October with a median sale price of $383,500. Of the 43 attached homes sold during this timeframe 15 were short sales with a median sale price of $390,000.

The data above demonstrates the inequality between standard equity sales (normal sale) vs Ladera Ranch short sale listings and the lower success rate of short sales vs. normal sales. This high rate of failure is primarily due to the lack of short sale knowledge and expertise of most listing agents. Home owners needing to sell who owe more than their home is worth, should work with an experienced Ladera Ranch short sale realtor such as Dave Gubler and Brian Doubleday of IML Real Estate. For more information, feel free to call: (949)218-0952, or email us at: info@imlrealestate.com