Over the last several weeks there have been a lot of homes coming on the market in the Monarch Bay community in Dana Point, California. This is good news for those considering buying in this ocean front gated community as real estate inventory has been really low for the past 12 months and the new early buyout opportunity is creating a surge in buyer activity. 48 owners have already purchased the land and now own both the home and the lot the home sits on. One reason for the rise in the listing inventory for this community is the Land Lease situation that will be occurring in the year 2020. For years and to this day the community has been under a land lease controlled by the Moulton Family Trust. In 1988, the Moulton agreed that in 2020 when the lease expires that the homeowners could be offered the opportunity to purchase their lots at 65% of the agreed fair market value of the 2109 appraised land value.
Currently, several homes in the Monarch Bay community have purchased and converted to the fee land structure with one of the first at 331 Monarch Bay being offered for sale on Fee Land. Owners of remaining leaseholds will have the opportunity to purchase their land in 2020 or sooner as provided by the early buyout agreement. There is a surge of buyers looking in this community with the tide shifting of home ownership from land lease to fee land. Owning in Monarch Bay membership to the private oceanfront Monarch Bay Club & Restaurant managed by the five star St. Regis Resort which is currently $120 a year. Community also includes tennis & sport courts and beach front parking access, and 24 hour guard gated private access. For additional information on the Monarch Bay Lease land situation please contact me today at 949-606-4114. Below is a video of one of the homes that is currently being offered for sale in Monarch Bay.