Dana Point, Baby Boomers and Real Estate

One of my clients is closing this week on a single-story end unit town home in Dana Point. Do you realize there are only FOUR homes or condos under $500,000 for sale in all of Dana Point? The very cheapest condo in Dana Point today is $369,000 and it might be gone before this blog posts.

If you want to buy a detached home in Dana Point under $900K you have a whopping 20 to look at. If you want a home with a downstairs bedroom of any kind you can see them all in an hour.

Living and working as a Realtor in the beach areas is not a bad gig I admit. We run into lots of out-of-area and local people who are looking for second homes or retirement homes. Most are baby boomers of course and one of the things most-often requested is a main floor master bedroom or a main floor bedroom. That is do-able and relatively easy to find if you're willing to buy something built in the 60s and 70s.

If you add in that you want something newer than the 80s, good luck. If you want one that has been completely refurbished, the wait could be lengthy. One of my favorite neighborhoods with large one-story homes and ocean views is Monarch Beach Terraces which is right at the junction of Crown Valley and PCH on the east side of PCH. Of course, the price is up there.

We have noticed that the one-story homes in the Niguel Hills area of Laguna Niguel have been a hot commodity this year. Again, they were constructed in the 70s and the room sizes reflect the times but where else can you get single-story homes with no HOA fees on large lots with views and just minutes from the beach? It is no wonder the baby boomers are snapping them up and the ones which have been upgraded are going in multiple offers. Young families with kids like those lots, too.

Many retires have headed out to the IE to find one story new-builds at affordable prices. My prediction is that many of them will be back one they get tired of the heat. It doesn't get better than living in Laguna Niguel and Dana Point.