Its that time again…Spring showers and May flowers! Hope you are all having a wonderful start to your New Year.

The year has started off with a bang…as we put 9 homes into escrow the first 6 weeks of the year had a brief lull and then bang another burst of activity! Looking forward to a busy year in real estate.

Prices have gone up demonstrably and they are approaching their peak in 2007. So long as interest rates don’t go up a lot or fast we should see a stable market for the foreseeable future.

Inventories at the start of the year were near historic lows but are now beginning to recover gradually. Today 4/12/18 there are 98 homes for sale in Coto de Caza where we typically carry 110-120 inventories at the beginning of the year were in the 50’s. In Rancho Santa Margarita we have 77 on the market today and were in the 40’s at the beginning of 2018.

Let’s hope and pray for stability in the market and peace in the world for 2018.

Wishing you all a Happy Spring!!

Mike Ameel

Broker/Owner

Coto de Caza Real Estate

949-233-2686

mike@mycoto.com

CBRE#480081

Dear Coto Area Friends and Neighbors,

I would like to wish each and every one of you a Very Happy New Year and also a Very Safe and Sound New Year!

2018 looks to be very exciting for the Real Estate business with low interest rates and increasing demand it should be a good time  to sell and buy your new dream home!

Today there are a record low number of homes for sale in Rancho Santa Margarita at 42!  This includes all of RSM, Dove Canyon, Robinson Ranch and Las Flores…Wow!  Also there are only 57 homes for sale in Coto de Caza which is also amazingly low.  Many sellers would prefer to wait until spring to go on the market and not have to deal with showings during the holiday season.

If you are thinking of selling this coming year please keep us in mind as we will be anxious to help make your real estate dreams come true!

Be Safe this New Years Eve….see you next year!! 🙂

Mike

Coto de Caza Real Estate

Mike Ameel Broker/Owner

949-233-2686

mike@mycoto.com

CBRE#480081

To all our Coto friends and neighbors!

This year is almost gone and 2018 is almost here…  A little update from 2017 on some Coto News!

Almost everyone is wondering what is happening to the General Store, former Merryhill School property, Maxwell Stables and of course the Equestrian Center….

The owners of the General Store invested a lot of time and money to acquire the property and develop plans to build the new general store but were unable to complete the project.  This was very difficult for them and also for the community who have been on pins and needles waiting for the expected construction to begin.

The General Store owners decided to exchange the property along with approved development plans to the owner of the Maxwell Stable property.  It is still unknown if the new owner of the General Store will build out the plan or maybe flip to a new buyer to build.  It is also unknown what the new owners of the Maxwell Stable property will do going forward.

The Merryhill School property was purchased a few years ago by a residential real estate developer/company called Oak Grove.  The principal as I understand it also acquired a controlling interest in the SBC Silver Bronze Corporation.  SBC demolished one of the Equesterian Center’s revenue producing stable barns (commonly known as the “Lower Barn” and now has obtained a lot line adjustment on a portion of the Equestrian Center for their expected purpose of obtaining a change of zoning from Recreationally Oriented Commercial Uses to Residential, being characterized as “downzoning”.  As of this date, to my knowledge, Oak Grove has not submitted a completed application to the county.

Since obtaining a majority interest in the SBC, which was formerly a not for-profit entity, it has since been changed to a for-profit corporation.  Over the last couple of years the new for-profit SBC has now sold off the Coto Valley Country Club CVCC to an Event Planning company which is operating successfully.  The new for-profit SBC has also sold off half of the Polo Field…so there will be no Polo in Coto in the near future from what I’m told.  The new for-profit SBC has created the aforementioned lot line adjustment where the Equestrian Center, now called the Equestrian Preserve, meets the Merryhill school property to accommodate a possible expanded future residential real estate project.  There has been a promise of $1.6M in improvements to the Equestrian Preserve if and when this project is approved.  A Preservation Easement has been recorded to protect the balance of the Equestrian Center in the future.  It may be important to investigate this instrument as to its ultimate enforceability.  Two beneficiaries are identified on the Preservation Easement…the Northern California Horseman’s Association and the County of Orange.  The County has not accepted beneficiary status leaving a sole, relatively unknown, beneficiary to protect the interests of our community in the future.

Whether it’s the developer of the General Store, Merryhill, Equestrian Preserve or whomever we would never wish anyone financial harm.   However in the real estate and investment business there is always an element of risk associated with any investment.  The price paid for each of these properties, in part, was determined by their anticipated use or the ability to change the current use to a use needed to obtain the anticipated return on their investment.

As you may or may not know a new CPAC “Coto Planning Advisory Council” has been formed to give advice to the County of Orange regarding future development projects.  Don’t hesitate to let your voices be heard whether you are for or against any project.  They meet the 2^nd Wednesday of the month at the Bell Tower Community Center.  The County is now accepting applications to be on the CPAC board. The applications need to be submitted by 1/5!  So, people need to hurry! Here’s the link to the info sheet and application.

http://www.ocpublicworks.com/ds/planning/hearing/advisory_committees/coto_de_caza_

A new 501c3 non-profit corporation has been created called Coto Conservancy, a grass roots organization, which was formed to reach out to the community regarding our open spaces, equestrian, golf, tennis, and wild animal issues within our community.  Coto Conservancy is “committed to preserving the original vision of Coto de Caza,” to be an informative, educational resource as well.  To find out more go to www.CotoConservancy.org.  Also please like and follow the Facebook page for community info and events.  https://m.facebook.com/cotoconservancy/

Merry Christmas, Happy Holidays and Happy New Year!!

Wow…only 85 Homes currently on the market inb Coto de Caza and only 98 in “all” of Rancho Santa Margarita. Why is this?? Good question! Many homeowners who have financed or refinanced their homes at 3.5% are pretty happy with their monthly payments and not highly motivated to pay more. Others are possible waiting until the spring to make a move. One of my listings just sold in 9 days!!  Call me if you are thinking about selling in the near future to discuss a strategy to fit your needs!! Mike

Happy Summer & Father’s Day