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picked out of the air because of the uniqueness of the individual property.”

Both Claus and Bartos echoed what Gary Boisen, president-elect of the Laguna Board of Realtors, says about home sales.

“The perception is that the homes in our markets sell in about the same time frame as homes in other markets, and at a slower pace as the prices increase,” he said. “The reality is that homes that are priced right in any market and price range will sell in a normal time frame, and oftentimes quickly. However, there are still many sellers who are not willing to acknowledge that pricing has dropped significantly over the past five years and they won’t adjust their pricing accordingly. It goes without saying that these homes do not sell.”

Claus argues that homes for sale in Laguna and Newport are no different from homes on other high-end communities, where she says the time on market is comparable.

“It just takes the right person at the right time,” Claus said. “Also the pool of buyers financially able to purchase these properties is extremely small. The same is true for Beverly Hills, Manhattan, Aspen, etc.”

Beside the sales pace being sluggish in both communities, Laguna in particular, appears to have several hurdles for sellers to overcome in attracting buyers for their homes.

“Laguna is a beautiful community with very desirable location,” Bartos said. “However, I think there are several reasons homes there take longer to sell. First of all, homes are generally smaller and older than those in Newport.

“Lot utility, condition and views vary greatly, making homes in Laguna much more difficult to value accurately. Overall, most neighborhoods in Newport are much more conforming and have fewer variables impacting value.”

Other issues in Laguna have to do with the type of buyers drawn to the area, the condition of some of these older homes and accessibility, he said.

“[Laguna] also has a city government that is understandably difficult with building and remodeling standards, including a view ordinance and an architectural review process. Prices on the high end are mega millions, and those are hard to justify … ”

Liz Claus Dilbeck Realtors

“Laguna Beach has wonderful beaches and views, but the hilly terrain with small or non-existent yards may not be as desirable to someone which children for example,” Bartos said. “Some potential buyers find the commute with access only via Coast Highway or Laguna Canyon Road difficult. So, although Laguna Beach is a wonderful community, the pool of buyers drawn to the area is simply not as large as the Newport Beach area. Certainly lower levels of demand, whatever the reason, will impact the length of time it takes to sell a home.”

In praising the communities, Boisen points to one of the reasons sales may sometimes take a bit more time.

“Laguna Beach and Newport Beach are coastal markets that have been impacted by the downturn in the real estate market just like all other communities,” he said. “However, buyers still realize the value in owning property closer to the ocean due to the climate, longterm value and demand by buyers from around the world. The market has three broad classifications: luxury/high end, middle and what we will call low end. However, the low end in our markets is typically from around $1.5 million and under.”

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