Mark Eades of The Register has this tale about Coto de Caza homebuying — with a sample of what’s for sale above …

Linsey Planeta with Belterra Fine Homes decided to do a microscopic breakdown of home sales in the gated community on her blog at www.ocrealestatevoice.com.
According to Planeta, there are 116 homes listed at prices higher than $750,000. Ten are in escrow and just eight sales closed in the last 30 days. “At that rate, it will take a year to exhaust the inventory of listed homes,” Planeta said.
On her blog, Planeta says the highest priced home currently in escrow is for $1.1 million. The highest sale in the last 30 days was for $1.6 million. The highest sale in the last six months per SocalMLS was $2.9 million. The only sale more than $2.9 million in the last 12 months was the record sale on Violeta Lane as reported by The Orange County Register in May for $19.5 million.
In the preceding 12 months, there were seven sales listed above $2.9 million, ranging from $3.2 million to as high as $6.6 million. Currently, according to Planeta, there are 24 homes listed for more than $2.9 million in Coto de Caza – 16 percent of the active inventory behind the gates.
Planeta finds that while the expensive homes aren’t selling in the down economy, the cheaper homes are. “There is movement in the under $500,000 market,” said Planeta. “Granted 60 to 70 percent of them are under distress, either foreclosure or behind on payment, but there is some movement, things are selling.”

To read the rest … CLICK HERE! (And click on photos of for-sale homes above for house details!)

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