It's amazing what a couple years will make when looking at real estate prices in Laguna Beach, California. Back in 2015, there were still a lot of choices for buyers looking under the $600,000 price range. Progress to the end of the summer 2017 and only a handful of properties will come on the market in this price range as prices have really soared in the last couple of years. Does this mean that we are headed into another real estate bubble? A lot of people think so but they also feel it won't be the huge correction like we saw in 2008. One reason for that is that banks are not giving out loans to everyone like they used to. If you have ever applied for a loan in the last 10 years you know how strict banks have become. This will hopefully circumvent any huge downswings in the market last we saw before.
For the looking for the lowest priced properties in Laguna Beach be prepared to spend around $575,000 for a two bedroom condo in the Terraces Laguna Beach community. The condo features a total of two bedrooms, two baths with 1,263 square feet of living space and just came on the market 7 days ago. The unit was built in 1989 and features a two car attached garage. It's actually a very nice property with vaulted ceilings, dual master suites, air-conditioning and it's own private outdoor deck. The Terraces is located on the outskirts of town near the 73 freeway. It borders with the city of Aliso Viejo so it's fairly removed from the downtown area of Laguna Beach. If you are looking to be in a Laguna Beach zip code with all the benefits that come along with that then this is could be a good fit. Many do this so their children can attend schools in the Laguna Beach school district. The terraces offers multiple community pools and outdoor recreational areas. There is also a 3 bedroom model that's on the market for sale at $599,999 and just came on the market 14 days ago.
The other option for properties under $600,000 range is the California Cove community. California Cove is located right next door to the Terraces neighborhood with the main difference is that these are detached single family homes. All of these are two story floor plans that offer main living quarters on the first level and bedrooms upstairs. The property on the market for $599,900 is a two bedroom single family homes with two full baths and 1,037 square feet of living space. Some of the features inside the home come with rich Brazilian hardwood flooring, updated kitchen with stainless steel appliances an attached two car garage. One of the best features is the outdoor patio spaces that really add to the feeling of extra square footage of the home. This was recently reduced down to just under $600,000 and has been on the market for a total of 35 days. For more information about homes in this area please contact any of our local Laguna Beach Real Estate agents at 949-355-1622 today.