The real estate market in Laguna Beach has started to make a shift as in most of the country with home staying on the market for a little longer than what we have seen in recent years. One of the main reasons for this shift is a combination of factors which include increasing higher interest rates, decline in the stock market and an oversees International war. It feels like we may be heading to more of a slow down here in Laguna Beach which will result in more inventory of homes on the market and the possibility of declining real estate asking prices. For buyers who have to get a loan in order to buy a home here the cost and gone up significantly from just a year ago and it is expected to get more expensive as well. Buyers will be looking for the best deals and opportunity in this new market so finding a home that needs a little bit of work with deferred maintenance may be the perfect opportunity if priced correctly.
We did a quick search of all of the homes in Laguna Beach and only found 2 properties that are being advertised as a fixer upper type property. One property that caught our eye was a great one story home located in the upscale North Laguna area that offered wonderful ocean views. The home is generous in size with a total of 4 bedrooms with an approximate 2,805 square feet of living space and located on a 13,000 square foot lot which is good size for a home located near the beach. It's currently listed at $3,495,000 and has been on the market for 5 days now. The North Laguna area is typically where you will find the most expensive homes in Laguna Beach and is considered one of the most desirable places to live in town. The property is being advertised as having "substantial deferred maintenance" and can be excellent opportunity for the right buyer. With this changing market it's important to choose the right property and not pay more than what the property is worth. For additional information on buying a fixer upper type home in Laguna Beach please reach out to our local agents at 949-355-1622.