The overwhelming most viewed property this month is the single family bank owned home listed at 720 Griffith Place in the Village area of Laguna Beach. The ocean view home is currently on the market for $599,000 for a three bedroom, two bath residential home. Currently, there are only 5 properties on the market in Laguna Beach under $600,000 that are located in the South Laguna and Laguna Canyon area. 720 Griffith Pl is the only home for sale in the Village area under this price point which allows easy walk to the downtown Laguna Beach area filled with shops, restaurants and the beach. According to the listing agent the home has already received multiple offers with multiple counter offers sent out to buyers.
The home was originally built in 1944 and is zoned R2 with an ocean view property plus a legal rental studio. The property is surrounded by mature landscaping and offers quiet living in the heart of the city. The home is being sold as-is and I'm not surprised by the multiple bids at this current offering price. My best guess is that this home will sell above asking price due to it's location and bonus studio. The property still shows active as they are looking at all offer. If you are interested in learning more about this property or what the home eventually sells for when it closes escrow then please send us an email and we will keep you posted.
2013 is expected to be a banner year for Laguna Beach Real Estate with prices slowly going up. The big question will be the amount of inventory of homes on the market. 2012 produced very little homes to come on the market as buyers who wanted to buy were not able to find suitable properties. When the homes did come on the market we had multiple bids and sold within a very short matter of time. If you are interested in getting on our watch list for new properties that come on the market that fit your price criteria please contact us today.