Newport Beach Real Estate

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Newport Coast & Crystal Cove Real Estate – 2009 Market Statistics

Posted: Tue, 12 Jan 2010 03:13:14 +0000
How’s the market in Newport Coast and Crystal Cove?

Here is the data from 1/1/2009 – 1/10/2010:

Newport Coast
- Active Listings: 61
- Average Days on Market: 162
- Average Listing Price: $1,019.60 (Sq. ft.)
- Pending Sales: 11
- Sold: 112
- Average Days on Market: 151
- Average Selling Price: $647.77 (Sq. ft.)
- Check out homes for sale in Newport Coast
Crystal Cove
- Active Listings: 37
- Average Days on Market: 146
- Average Listing Price: $1,087.85 (Sq. ft.)
- Pending Sales: 1
- Sold: 19
- Average Days on Market: 132
- Average Selling Price: $865.79 (Sq. ft.)
- Check out homes for sale in Crystal Cove
There is still a disconnect between what sellers are asking and what buyers are will to pay in Crystal Cove. If we would see some realistic pricing, I’m sure the “Sold” numbers would be higher. Just take a look – 112 homes sold in Newport Coast compared to just 19 in Crystal Cove. Sure, there are more homes in Newport Coast, but a spread of 93 homes is pretty wide.

Check out the charts below…
- Median Price: for single family homes started the year just under $3.5M, dipped to a low around $3M, bottomed out, and now has risen back to a hair below $3.45M. This is not a huge swing and to me that shows stability. Overall: Prices Rising
- Inventory: Started last year at just below 165 units, increasing to a little over 185 and now has dropped to just under 145 single family homes for sale. Overall: Decreasing Inventory
- Days on Market: A steady increase from 170 to just above 240 days on market. Overall: Increasing Time on Market
My take…

With the Median Price rising and the inventory decreasing you would think, “Great, the market is turning.” But hold on, with the days on market increasing almost 2.5 months, you have to think the buyers are not on board with the pricing. If you are looking to sell in less than average time, look at the numbers and price close to market value. If you are looking to purchase, look for a realistic seller and be aggressive on the low side.

If you are thinking about making a move, now is an excellent time to take a look at market value and activity. I’m here to help you estimate the market value of your home, or to help with a purchase strategy. Feel free to reach out to me. I’m here to help. It’s what I do.

Where do you think Newport Coast and Crystal Cove home prices are headed?

Please post a comment.
Newport Beach Real Estate – Time to Buy?

Posted: Wed, 18 Nov 2009 22:01:00 +0000

Is it time to buy?

Today, on the front page of the LA Times, “Southern California home prices edge upward again in October,” would suggest maybe the time is now to pull out the checkbook. Or at least, kick the tires a little harder.

Timing is everything. Combined with the federal tax incentives for first-time and move-up buyers, interest rates near, or at, historic lows, the holiday season and our infamous buyer’s market – could there be a better time to make the move back into the housing market?

Closer to home – MDA DataQuick reports Orange County number of sales decreased -1.2% from October 2008 to October 2009. Sales prices, for the same time period, increased +3.9%

Check out the real-time market trends report below. You can see things have started to move up.

The questions are: Will it stay that way? Are we in for another downturn? Do you believe sustained real estate housing price appreciation is back?

Please post your comments below. I want to know what you’re thinking.
Newport Beach Real Estate ~ Homes for Sale on Linda Isle

Posted: Sun, 08 Mar 2009 23:02:20 +0000
A recent post about Linda Isle home prices holding steady has brought a few inquires about how to see homes for sale on Linda Isle. For folks from out-of-town, or locals who are just now learning about this beautiful area of Newport Beach, Linda Isle homes for sale are a little more difficult to see than most communities.

Here’s why:
- Guard gated – the guards are friendly but, they take their job seriously. You need an owner to give the green light.
- No “For Sale” signs. Even if you make it past the guards, no real estate signage.
- No “Open House.” The HOA does not allow this activity.
- You must contact a REALTOR to make an appointment to see a home for sale.
Of course, you can find Linda Isle homes for sale on the various real estate web sites. That takes some searching. Want it now? Follow this link to the current available inventory: Linda Isle homes for sale.

Currently, my favorite home for sale is 76 Linda Isle. It is a remodel candidate, but the location is fantastic. The price is not as expensive as the harbor facing, outer horseshoe. But is reasonable given the south side of the inner horsehoe. As with any real estate purchase, location is everything – even on Linda Isle.

What is your opinion of Linda Isle?

Start the conversation…Please comment.
Newport Beach Real Estate – Full Disclosure

Posted: Wed, 04 Mar 2009 18:39:49 +0000

Some people, when selling, have a difficult time telling the truth about their home. They are afraid if they disclose negative items, they will scare the buyer away or somehow, hurt the deal. When I represent a seller, I urge full disclosure about everything using the required California Transfer Disclosure Statement (TDS). It’s better to put up a caution flag to a buyer than face a judge in court. Cheaper too.

Homeowners trying to sell without professional assistance, sometimes take it to another level. Downward I would suggest. Maybe too much information is not a good thing. For Sale by Owner’s (FSBO) take note – If you want to sell your home, consider your signage – if you need advice, contact me.

Honesty is a good thing, but, do you really think using ad copy as shown below will get buyers salivating over your home?

Let me know what you think of this photo. I’m sure many of us have felt this way about a neighbor…but do we really want the world to know? What happens if you don’t sell and you’re stuck?

What are your thoughts?

Please comment…Start the conversation.
Crystal Cove Real Estate ~ Crystal Cove Home on Auction Block

Posted: Fri, 13 Feb 2009 20:20:55 +0000

A dose of reality is being given to luxury home sellers in Crystal Cove. 39 South Sur is going on the auction block. The minimum bid is $4,950,000. Not too long ago, this former model home, was on the market for $7,475,000. I’m told a couple of offers have come in to purchase it before the auction. This is a turn-key purchase – all furniture included. Bring your toothbrush and, of course, a bottle of wine.

As I’ve noted in this space before, the Crystal Cove sellers are not bringing the asking prices down to a point where buyers are seeing the value. That’s why the inventory is not decreasing. I’ll stay tuned and see if this ends up south of $850 per square foot.

March 14 is the date set for the auction – check out the link to 39 South Sur in Crystal Cove real estate to see the home for sale – er, I mean, up for auction.

What do you think of Crystal Cove home values? What do you think is a fair per square foot price for Crystal Cove?

Please comment. Start the conversation.
Newport Beach Real Estate – Weekend Mortgage Rates Update

Posted: Sun, 01 Feb 2009 00:21:21 +0000

Welcome to the Newport Beach Real Estate Weekend Mortgage Rates News Update.

My aim is to bring you the most current mortgage rates for your weekend house hunting and decision making.

One of the great things about being a Coldwell Banker real estate agent, is having working relationships with great companies and, of course, the people within them. In a time when it is difficult to obtain refinances and home loan mortgages, First Capital is getting deals done. Trusting mortgage brokers can be difficult, but, Tim is one you can trust. He is honest and hardworking.

Tim Sibley from First Capital Mortgage, in Newport Beach, is providing this information. Give Tim a call for your mortgage needs.

I hope this information is useful. Have a great weekend!

What do you think about the current mortgage market? Do think rates will go up or down in the next ninety days?

Please comment. Start the conversation.
Weekend Mortgage Rates News Update

Posted: Sat, 24 Jan 2009 22:10:57 +0000

Welcome to the Newport Beach Real Estate Weekend Mortgage Rates News Update.

My aim is to bring you the most current mortgage rates for your weekend house hunting and decision making.

One of the great things about being a Coldwell Banker real estate agent, is having working relationships with great companies and, of course, the people within them. In a time when it is difficult to obtain mortgages, First Capital is getting deals done. Trusting mortgage brokers can be difficult, but, Tim is one you can trust. He is honest and hardworking.

Tim Sibley from First Capital Mortgage, in Newport Beach, is providing this information. Give Tim a call for your mortgage needs.

I hope this information is useful. Have a great weekend!

What do you think about the current mortgage market? Do think rates will go up or down in the next ninety days?

Please comment. Start the conversation.
Corona Del Mar Real Estate – Market Report – December 2007 to December 2008

Posted: Fri, 23 Jan 2009 03:37:15 +0000

Real estate news recently released by DataQuick, reflected a 25.4% decrease of the average single family home sales price in Orange County.

With the interest in Corona Del Mar real estate market trends, learning how Corona Del Mar realty compares for the period December 2007 to December 2008, is important for buyers and sellers of real estate.

Take a look at the charts below for Corona Del Mar real estate. All of the charts reflect activity for single family homes in Corona Del Mar, CA.

The first chart shows a Median Sold Price increase of 14%. Considering the overall downward pressure on real estate pricing, seeing appreciation from Corona Del Mar homes sold is great!

The chart below, The Number of For Sale Properties By Month, shows the number of homes for sale has increased by 11%.

The chart below, The Number of New Properties Listed by Month, shows the supply of single family homes for sale increased by 17%. January is the most popular time of the year to put a home on the market.

The next chart, Supply & Demand by Month, indicates the number of for sale properties is up 11% and the number of sold properties is up 100%.

The chart below, Months Supply of Inventory, indicates the average months supply of inventory is down 17%. With 23 months of available inventory, it is still a strong buyers market.

And finally, The Number of Under Contract Properties by Month, shows the number of under contract properties is up by 33%.

Imagine, 14% appreciation in a buyers market! Corona Del Mar continues to be a bright spot.

I have more charts available. Would you like to see more? All of them?

Armed with the information contained in these charts, what is your opinion of the Corona Del Mar real estate market?

Please leave a Comment. Get the conversation started.
Newport Beach Real Estate – Linda Isle Holds Steady

Posted: Wed, 21 Jan 2009 23:59:43 +0000
Linda Isle is one magnificent aspect of the Newport Beach housing market. There are 104 bay front homes where “location” plays an important part of pricing homes to sell. Facing Pacific Coast Highway, facing Bayside Drive, inside the horseshoe, facing towards the turning basin, you get the idea. The location makes a difference. Supply and demand is at work on Linda Isle. During this downward spiral in the selling prices of homes, Linda Isle increased in value despite the challenges in today’s real estate market.

Here are the facts:
- For the period of 12/31/2006 – 12/31/2007, 7 homes were sold for an average selling price of $7,396,446 with the per square foot price of $1,520.96. The average time on market was 43 days.
- For the period of 12/31/2007 – 12/31/2008, 4 homes were sold for an average selling price of $10,449,750 with the per square foot price of $1,845.41. The average time on market was 196 days.
- The average selling priced increased by 30%.
- Currently, there are 9 properties for sale on Linda Isle. The average asking price is $8,071,555. The average per square foot asking price is $1,629.30. The average time on market is 147 days.
There is one property that has caught my eye as a potential good deal in a fabulous location. The address is 76 Linda Isle. Check it out!

To see more homes for sale on the islands of Newport Beach, head over here to search the listings.

What do you think of Linda Isle? What areas of Newport Beach, Corona Del Mar, Newport Coast and Crystal Cove would you like to see highlighted?

Please comment. Start the conversation.
Newport Beach Housing Blog aka Newport Beach Real Estate Blog

Posted: Sat, 17 Jan 2009 01:02:25 +0000

If you are looking for the Newport Beach Housing Blog – you found it!

I am proud the OC Register real estate columnist/blogger Jon Lanser has chosen this blog to help distribute the news and views of the Newport Beach housing market. This blog covers, besides Newport Beach, Corona Del Mar, Newport Coast and Crystal Cove real estate. I will bring you noteworthy information about real estate from this beautiful part of the world. It won’t all be about the numbers, we will have fun along the way learning about the Newport Beach lifestyle.

I am happy you stopped by for a visit. I hope you enjoy what you find.

Please remember this blog is for you. Please, tell me, what do you want to know about? What would you like to see on these pages? Leave comments, email or call me. Let me know what you are thinking.