This is a Coto de Caza real estate update for March 16, 2015.  There are presently 84 homes listed for sale in Coto of which three are considered distressed.  Distressed refers to homes that are foreclosed on, or the seller will not have sufficient funds to pay back the mortgages on the property at the close of escrow.  The distressed represent 3.6% of the active listings.  There are an additional 29 homes in escrow.  This week we will take a look at market time, which is the length of time it takes from the day a home goes on the market until the day the home is listed as in escrow.  Right now it is taking the average Coto de Caza home 2.9  months to enter escrow.  Two weeks ago it was 2.2 months, 4 weeks ago it was 3.4 months, one year ago it was 3.2 months and two years ago it was 2.1 months.  The average price of a home in Coto stands at $2,200,000.  Mortgage interest rates rose last week.  The 30 year went from 3.75% to 3.86% and the 15 year went from 3.03% to 3.1%.  If you are considering the sale or purchase of a home in Coto de Caza, Dove Canyon, Rancho Santa Margarita, Robinson Ranch, Las Flores, Wagon Wheel Canyon, Ladera Ranch or any of the surrounding Orange County communities, please give us a call.

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