San Clemente Fixer Upper Homes

Rising Interest Rates has become a problem for those looking to get a mortgage when buying a home in today's real estate market.  These higher rates were intended to slow down pries and inflation but the actual opposite as happened.  Due to low inventory, we have what they call shelter inflation which is reaction to the Federal government raising interest rates.  It's basically explained as the higher the interest rates go, less and less people who currently have a 3 or 4 percent mortgages on their home would not want to put their home on the market and buy another property at interest rates in the 6 to 7 percent range due to the higher costs involved.  So the higher interest rates have created a very limited number of homes coming on the market which is

In the last several years we have seen a big increase real estate prices in San Clemente, California.  It's very hard to find any decent detached single family home in a nice area for under $1 million dollars.  Last year we saw a shifting market where properties were on the market a lot longer than what we had experienced in recent years so there was the anticipation that real estate prices may go down.  This was the case in some of the properties sold last year but the overall pricing of homes still remains high and has not seen a huge dip as some were expecting.  There are still some great values for homes if you know where to look, especially in trying to find a detached single family home for under $1.5 million.

One of the better values that we

The San Clemente Real Estate market in the last three to four months has been really crazy as buyers are bidding against each other when new listings that are priced well come on the market.  Many thought COVID would bring the real estate market down but it has actually had a reverse effect and the market has never been stronger.  One of the biggest issues is limited inventory which has been a problem for the last two to three years in San Clemente and has become even more limited due to COVID.  What many buyers are doing is looking for homes that are not on the market yet but will be coming on the market soon.  These listings that were once only limited to real estate agents are now available to the general public.

One of the best things you can do

What a difference a couple of months make when looking at San Clemente real estate market.  COVDI19 has really changed the landscape of the marketplace and has actually caused the reverse of what most people think would happen.  We get a lot of calls from buyers thinking they can get a big discount on real estate since they feel the overall economy has taken a hit due to the large number of jobs that were lost.  In fact, the opposite has happened to the real estate market.  The inventory of homes on the market for sale was low before COVID19 and because of the pandemic there are even less sellers wanting to put their home on the market.  Given the high demand of buyers that still want to buy in part to the very low interest rates there is almost a bidding

If you are considering buying a home in San Clemente then it's still not too late to find a detached home for around $600,000.  Over the last 10 years these numbers have been slowly increasing but there are still some neighborhoods that offer excellent values when looking at detached properties.  One thing to keep in mind that not all detached homes are classified as single family homes and can be considered a residential condo.  This is often done by real estate builders who build a new community but want to save money so they classify the homes as condos to save money.  This doesn't seem to be a big deal since the home has the look and feel of a traditional detached single family home but without the classification.  

A perfect example of this is the

When I first got into real estate over 20 years ago I always heard the word "turnkey" and had no idea what people were talking about.  It seems like its a favorite word among real estate agents for describing a home that is in excellent condition.  it wasn't later that it was explained to me that it literally meant turn the key in the door and leave without any concern about something falling apart or not working correctly.  Once I got this explanation it started to make sense but I still feel like it's a word that is over used by the real estate community.

Nevertheless, it's a short way to describe a home that needs little to no work done on the home.  Basically, bring your touthbrush and move right in.  This is especially true to describe condos in

Real Estate agents have a special day when they get to preview brand new listings that come on the market in the San Clemente real estate market place.  This is called "broker preview" since real estate agents and brokers have the ability to view a large number of listings in a short four period.  Often times, agents will spend just a couple minutes looking at a property and then drive on to the next property.  This allows them to be able to see a large number of properties so they are better able to identify properties that may work for their clients.

The dates for properties located in San Clemente, Dana Point and San Juan Capistrano is every Wednesday from 9:30am to 1:30pm. Buyers are also welcome to attend these open houses and can quickly view a

The Southeast San Clemente area is a great place to find ocean view homes in San Clemente, California.  Most San Clemente buyers typically want to live near the beach but soon learn that real estate prices are normally very high and have limited ocean views.  They soon find that the best value for the money is often found in the hills of San Clemente where you will find panoramic views and large square footage houses for the same prices that you would find a small beach cottage by the beach.  This area in the hills in commonly referred to as the "Southeast San Clemente" area and is a popular choice for those looking for panoramic ocean views.

The below photo was taken from a home in this area and is a good sample of the kind of ocean view that you can

2012 is turning out to be a great year as buyers are back in the market looking for properties.  With the current low inventory of homes buyers are open to looking at fixer upper homes as a way to get in to San Clemente Real Estate marketplace.  Fixer upper homes rarely come on the market and can range anywhere from a small condo to large ocean view home.  If you don't mind a little sweat equity and you enjoy fixing up homes then these properties may be perfectly suited for you.  A recent fixer upper home has recently come on the market in the Mira Coast Villas condo community here in San Clemente, California.  Mira Costa Villas is an older complex here in San Clemente that were built in the late 1970's.  The condo is currently listed for $369,000 and