Wishing all of our friends, customers and clients a Very Merry Christmas, Happy Hanukkah and a Happy New Year 2021 too! 🙂

As an update you might be astonished at the historically low inventory of homes available for sale on this Christmas Eve! This morning there are a total of “53” homes available for sale in the Coto de Caza, Rancho Santa Margarita, Dove Canyon, Robinson Ranch and Las Flores areas… This is an incredible statistic and not close to anything we’ve seen since 2007 when the market was at its peak. Low interest rates are driving the sales at the same time prices have risen. It remains to be seen what we will happen in the coming new year. Let’s cross our fingers, enjoy our eggnog and say our prayers hoping for a happy and prosperous New Year!!

This holiday season is bringing some new and interesting aspects to our real estate market… As a resident of Coto de Caza since 1993 I have never witnessed such low inventory numbers in our community. On 11/26 there were only “38” homes for sale in all of Coto de Caza…and only “49” in all of Rancho Santa Margarita. This morning the numbers are up slightly in Coto to “43” but incredibly down in Rancho Santa Margarita at “39” 4 less than in Coto! The Rancho numbers include RSM, Dove Canyon, Robinson Ranch, Walden, Las Flores and Rancho Cielo!!!

The issues driving these numbers include the demand for housing exceeding the supply by historically low interest rates. This is happening while prices have also risen. I don’t see any changes coming in the near future but with the crazy political environment we should hold our breaths.

Wishing all of my friends and customers a very “Merry Christmas” and a “Happy New Year 2021”!

Coto Friends and Neighbors…the market in Coto de Caza and surrounding areas continues to amaze me and anyone watching…low interest rates and low inventories are driving the market. Today we have only 49 Homes for sale in Coto de Caza with only 1 home under $1M. In our neighboring community of Rancho Santa Margarita there are only 49 homes currently for sale and have 11 over $1M. Its an interesting time!! Even though prices are somewhat high…interest rates are diminishing the impact of those prices considerably with 30 year rates at 2.75% +/-. If you find something you love and will live in for many years…don’t hesitate…jump on it!

How the times have changed…one of my friends asked me the other day what the average or median price of homes were in Coto….I said about $1,350,000 as I hadn’t done the math in a while… So this morning I added all of the asking prices of 95 homes totaling $183,502,499 and found that the Average asking price was $1,931,594 and the Median asking price is $1,488,000. Interest rates have headed lower and the market is very active at this time! Looking forward to a busy spring! Questions…give me a call 949-233-2686!

Merry Christmas, Happy New Year and Happy Holidays to All!!

Thought I’d pass along a little New Years’s Cheer to all Coto de Caza Homeowners… This note was sent to me about 5 years ago by then Orange County Supervisor John Moorlach… So as of 8/15/2019 we should not have any Mello Roos in Coto whatsoever!!! Yea!! Happy New Year!!

The current status of CFD 87-8 Coto de Caza as of 3/13/2014 is as follows: Debt Outstanding:  $9,033,223

Maturity Date:  August 15, 2019

Taxpayers in the district should expect their last special tax payments related to the debt to be December 2018 and April 2019.

I cannot think of a scenario where that debt would be extended beyond maturity.

Hope this helps to get all of my Coto friends off to a great start of the coming New Year!  

Mike Ameel

https://mycoto.com/10059-2/

While our inventories in Coto/RSM were near historic lows at the beginning of the year we’ve seen them grow to 115 in Coto and 235 in RSM.  Today inventories have shrunk to 89 in Coto and 160 in RSM!  The market has been slow the past 60 days but is showing signs of increased activity since school has begun and families are home from their vacations.  We have also seen some softness in pricing as the market has adjusted downward slightly as it had been adjusting rapidly upward in the first part of the year.  We’re predicting stability in the market for the near future.  Its also time to take advantage of interest rates as they will be trending upward with our improving economy.

That’s it for now!