As we head into the 2016 Presidential Elections one thing is for certain, real estate prices in San Clemente are at an all time high. This is especially true to residential condos that currently starts at $405,000 for a non-view two bedroom condo. These prices are very reminiscent of 2007 when prices were at the top of the market right before the housing market crashed. The biggest thing moving the market right now are low interest rates and the consumer feeling positive about the economy. With that being said there is a lot of anxiety of what will happen next year. Many have predicated that we are in a real estate bubble and an adjustment is soon to happen to correct these high real estate prices. This is further backed up by the Feds wanting to increase interest rates which appears will happen at the end of 2016. The elections are another variable that needs to be taken into consideration depending on who wins. The general consensus in California is that if Clinton wins that we will have more of the same which means a more stable real estate economy. The Trump administration would be the wild card in this equation and could bring increased jobs and stability but could also cause the markets to be un-predictable.
For those who are thinking about buying a condo that cheapest place to find a condo is in the Vista Pacifica complex. For nearly a 10 year period no condos had ever sold over the $400,000 until I successfully sold an ocean view condo for $415,000 last year. Getting comps to support that number was really tough but we were able to get the deal closed. Since this record sale there have been many condos listed above the $400,000 price point, mainly those that had some kind of view. Now in late 2016, non-view condo owners are asking over $400,000 which would be impossible if we were talking just one year ago. The market does appear to be a little greedy and I do think a small correction is in order to bring property into more affordable price points. If interest rates do go up later this year that will surely start to slow down the market and cause real estate prices to either be stagnent or to become lower. I'm not sure if that's what the Feds will want to do but It seems like an interest rate increase is almost certainly on the horizon. For those who have further questions about the real estate market here in San Clemente, California feel free to reach out to me at 949-204-5110.
San Clemente 2185 Calle Ola Verde 194
Super cute Townhome located in Marblehead of San Clemente! This home has been freshly painted throughout, new carpet and new kitchen flooring. This end unit has a green belt area off the living room and patio creating more privacy than most units in the neighborhood. Bonus: There is a peek-a-boo ocean view from the master bedroom as well. The oversized two car garage is located right outside the front door making access extremely easy! Faire Harbour has a community pool, spa and sand volleyba...$499,900
San Clemente 2501 S El Camino Real 314
Welcome to paradise! Ocean, golf course and sunset views! Top floor unit. Completely remodeled! Gorgeous porcelain tile, recessed lighting, quartz countertops and stainless appliances. Dual pane windows for energy efficiency. Cozy fireplace in living room and large balcony to enjoy the sweeping views. Walk to the beach, restaurants, shopping and parks. Swimming pool, tennis courts, spa and club house with pool table, kitchen for entertaining. 2 parking spaces, 1 underground. This unit is a mu...$499,000
San Clemente 214 Via Robina 18
SINGLE-LEVEL * END UNIT * in SOUTHEAST San Clemente. Private and quiet location. Ideally located in a cul-de-sac surrounded by green hills. Walking distance to popular downtown village with top-rated restaurants and shops, as well as the pier and beach trail. Within minutes are beautiful beaches and world renowned surf spots. Make this spacious, move-in ready condo your home and enjoy all this active, coastal community has to offer. Open living area, light and sunny with neutral palate, crown...$478,800
San Clemente 3830 Avenida Del Presidente 12
Rarely on the market! Beautifully upgraded one bedroom unit located in Southwest San Clemente in the Vista Oceana building. Prime bottom floor location with lots of natural light spilling inside and an open, spacious back patio. This unit is only a few minutes to the best beaches in San Clemente and a very easy bike ride to the world class surfing and rural beaches of Trestles. Walk to award winning Concordia Elementary School under 5 minutes. With key community features such as a spa and out...$375,000
San Clemente 1046 Calle Del Cerro 405
This is a nicely Upgraded one bedroom comdo! This is a ground floor unit easy access for you and easy for wheelchairs. Previous owner remodeled kitchen and bathroom with newer cabinets and granite counter tops. The remodel included tile in the entry, kitchen and in the bathroom. This unit does have a single car garage. The remodel included a laundry area in the unit. Come by and see this nice one bedroom unit is beautiful San Clemente.$335,000