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Newport Beach Real Estate
Archive for November, 2009
November 30th, 2009
Luxury Home in the Area of Newport Beach
Luxury Home in the Area of Newport Beach
If you are considering purchasing a luxury home in the Newport Beach area, and you have not found what you are looking for, you may want to consider looking at 369 22nd Street. While this home officially has a Costa Mesa address, there is no element of luxury that has been over looked.
This home at 369 22nd Street was annexed by the City of Costa Mesa, and literally across the street is Newport Beach.
This home at 369 22nd Street features 5800 square feet of living space, four bedroom suites, gourmet kitchen with a large island for entertaining. There is a downstairs family room, and upstairs there is a beautiful game room with a pool table and plasma televisions to enjoy different sporting events at the same time. The master bedroom has vaulted ceilings, a separate sitting area with a fire place. The master bathroom is finished in marble with a steam shower, and separate spa tub. Additionally, there is a private office with a separate entry. Finished with the finest of materials, there is beautiful use of granite, marble and onyx throughout this home. This home is a luxury home, located with close proximity to gourmet shopping and to the airport for the executive.
For more information and photographs on this property, please view the property website at CoastalOChome.com
Priced at $2,850,000
For a private showing of this home, please contact me.
Phone or Text: 949.280.0681
Email: Spaxson@roadrunner.com
November 30th, 2009
101st Newport Beach Parade of Lights
101st Newport Beach Parade of Lights
The Newport Beach Parade of Lights will be held:
December 16 – 20, 2009
The parade begins at Bay Island in Newport Beach at 6:30 pm, and finishes in the same spot at approximately 9:00 pm. You can find the parade route here.
Newport Beach has so many holiday events to enjoy. There is the Balboa Island Home tour, the Corona del Mar 31st Annual Christmas Walk , and of course the Annual Christmas Tree Lighting at Fashion Island which was on November 20 – 21, 2009.
The Newport Beach Parade of Lights is coming up, so come and join the viewers as you watch these incredibly decorated yachts and boats. There are even kayaks and canoes which the entrants of the Newport Beach Parade of Lights decorate. It is a truly festive time. There are some boat owners who have spent more than $50,000 decorating their yacht for this holiday event.
This year it is the 101st Annual Newport Beach Christmas Boat Parade. It is hosted by the Commodores Club of the Newport Beach Chamber of Commerce. “The Joys of Christmas Toys” is the theme of the Newport Beach Parade of Lights
Here are some recommendations on where you can view the parade. Make your reservations today, as this is an event where the restaurants fill up quickly.
Billy’s at the Beach
2751 West Coast Highway
Newport Beach, CA 92663-4753
Phone: (949) 722-1100
Rusty Pelican
2735 W Coast Highway
Newport Beach, CA 92663
Phone: (949) 642-3431
rustypelican.com
The Chart House
2801 Coast Highway
Newport Beach, CA 92663
Phone: (949) 548-5889
thecharthouse.com
Villa Nova
3131 W. Coast Hwy
Newport Beach, California 92663
Phone: (949) 642-7880
villanovarestaurant.com
Newport Landing Restaurant and Oyster Bar
503 E. Edgewater Avenue
Balboa, CA 92661
Phone: 949-675-2373
newport-landing.com
Joe’s Crab Shack
2607 W Coast Hwy
Newport Beach, CA 92663
Phone: (888) 844-4520
Joescrabshack.com
There are also a variety of beaches that you can view the Newport Beach Parade of Lights. There is Mother’s Beach located on West Bay near 9th Street. There is also another bay side beach down by Peninsula Point in Newport Beach. Make sure you bring your blankets to keep warm, and arrive early in order to secure a parking place.
If you want to be on a boat to view the Newport Beach Parade of Lights, you might want to rent a Duffy Boat located in Newport Beach. Duffy’s are 21 feet electric boats, and are truly harbor cruisers. Contact Duffy Boats right away to see if the have any reservations open.
Newport Beach may have as many as one million viewers of this parade.
If I can answer any questions about the 101st Newport Beach Parade of Lights, please contact me.
Phone or Text: 949.280.0681
Email: Spaxson@roadrunner.com
November 30th, 2009
What is the Value of Your Newport Beach Home?
What is the Value of Your Newport Beach Home?
If you are considering selling your home in Newport Beach, it is important to establish value of your property. There are several ways in which to determine value of your home.
1. Comparative Market Analysis
One of the most important starting points is to talk to a professional Realtor. A Realtor will look at recent sales in the area with homes that are comparable to your home. A Realtor will consider location, condition, size of home, and will do a CMA and present it to you as the seller. A CMA is a comparative market analysis of similar properties that are active or currently on the market, pending/back up properties - properties which are pending close of escrow, and recent closed or sold properties. With regards to sold properties, an important consideration is how recently they sold. A property has to appraise per the Residential Purchase Agreement, and an appraiser is not going to go back a year for comparables. Typically, when a Realtor does a CMA for a seller, they will go back 4-6 months when reviewing sales.
2. Appraisals
Another manner in which to determine value of your Newport Beach home for sale is to have the property appraised by an independent appraiser. There is a fee for this to the Seller to have the property appraised, however this is a valid consideration if the Seller wants additional validation of the value of the home. An appraisal will cost the seller approximately $350.00.
As I stated earlier, the property has to appraise for the sales price. There is an appraisal contingency in the Residential Purchase Agreement which stipulates the property has to appraise for the sales price in order for a loan to be secured on the property.
Internet Estimates
There are many internet sites that a consumer can visit in order to establish value of their home. A consideration with utilizing these sites is that they may not be very accurate. Some of these sites such as Zillow will attempt to offer some type of comparables, however they may not be very accurate with the price of your home. I would recommend consulting a professional Realtor who works in the area to do a Comparative Market Analysis. This is a service that I offer at no charge to my clients. Please contact me if you are considering the value of your home.
4. Market Value
Your home is worth exactly what someone is willing to pay for it, and what you are willing to accept for it at a particular time. The market is the market, and if a home is over priced it will sit on the market. If it has been under priced, then you are risking not realizing the actual dollar amount the property is worth.
You don’t want to chase the market!!
Chasing the market down is an extremely important consideration. Pricing your home high or to “test” the market just to see if you get that amount is not a good idea. When a home is over priced, it will sit on the market accumulating days on market. And if there is a price reduction, however still slightly above the market, you can end up chasing the market down.
When a property sits on the market for too long, the assumption is – what is wrong with it? Why hasn’t it sold? Pricing a house too high handicaps it right from the beginning.
If I can answer any questions about determining the value of your Newport Beach home, please contact me.
Phone or Text: 949.280.0681
Email: Spaxson@roadrunner.com
November 29th, 2009
Balboa Island Holiday Home Tour
Balboa Island Holiday Home Tour
The Balboa Island Holiday Home Tour is going to be held:
Sunday, December 13, 2009
From 11:00 am to 4:00 pm
The Balboa Island Home Tour is an annual event and an opportunity to visit and tour some very beautiful homes on Balboa Island in Newport Beach. These homes will be decorated with a holiday theme. There will also be refreshments in some of the stores located on Marine Avenue.
Tickets are required for this event, and may be obtained from the following establishments:
- Even Sisters
- Let’s Go Shopping
- Martha’s Bookstore
- The Persimmon Tree
- The Gift Box
- Island Home
Tickets are available for $20 a piece.
Information for Will Call:
BIIA Home Tour
P.O. Box 5593
Balboa Island, CA 92662
Please call ticket sales for more information at (949) 673-4280
Checks should be made out to BIIA.
To order tickets at Persimmon Tree Call, please call (949) 673-4280.
This event is sponsored by Balboa Island Improvement Association.
If I can answer any questions about Balboa Island, please contact me. I hope to see you at the Holiday Home Tour on Balboa Island.
Phone or Text: 949.280.0681
Email: Spaxson@roadrunner.com
November 28th, 2009
Corona del Mar 31st Annual Christmas Walk
Corona del Mar 31st Annual Christmas Walk
Corona del Mar has a wonderful tradition to enjoy the holiday season, the 31st Annual Christmas Walk. Hosted by the Corona del Mar Chamber of Commerce, is an event with holiday festivities for all to enjoy. Each year, there are literally thousands of people who visit the Village of Corona del Mar and peruse the stores, and enjoy the festivities.
Enjoy the Carollers, bounce houses and wonderful food, this is a holiday tradition not to be missed.
The Corona del Mar 31st Annual Christmas Walk will be held:
December 6, 2009
11:00 am to4:00 pm
I hope to see you in Corona del Mar, and enjoying the festivities of this holiday season.
November 28th, 2009
Holiday Shopping at Fashion Island in Newport Beach
Shopping at Fashion Island in Newport Beach
If you are looking for a kick off to your holiday shopping, why not consider visiting Fashion Island in Newport Beach. Fashion Island is a outdoor shopping area located in Newport Beach. With panoramic views of the Pacific Ocean, visiting Fashion Island is always a pleasure. There are many upscale shops, fine dining and dining with a more casual flair. There is something for everyone in Fashion Island.
Fashion Island in Newport Beach recently had their Annual Christmas Tree Lighting ceremony on November 20th and 21st, 2009. This is an event where the tree is officially lit, combined with entertainment. Due to recent improvements in the Bloomingdale’s courtyard, the Fashion Island Christmas Tree is now located at Atrium Court by Santa’s House.
Fashion Island is also home to a carousel so the families can bring their children to enjoy the outdoor atmosphere. However, there is speculation that this carousel will be taken down. I am hoping they keep the carousel because to me it is part of the history. I will keep you updated on that topic.
Fashion Island also has a beautiful Koi pond that has tables around it to sit and enjoy the beautiful Koi which reside in the pond.
Fashion Island has upscale stores including Bloomingdale’s, Neiman Marcus, and a Nordstrom is under construction set to open in 2010. There is also a Macy’s which is one of the larger stores. There are many boutiques including Z Gallerie, BeBe, BCBG, and Fashion Island in Newport is now home to a True Religion which just opened last summer. There is also a 7 for All Mankind store which just opened on November 25, 2009. And of course there is a very popular Mac Store which is a personal favorite of mine to visit and check out the latest and greatest.
Fashion Island is hosting an event coming up on December 4-5,2009 which is the Beckstrand Cancer Foundation Holiday Gift Drive. The event will be from 11 am to 4 pm, and if you bring a new, unwrapped item, you will receive an offer from a Fashion Island merchant. The Beckstrand Cancer Foundation Gift Drive benefits children aged new born to 19 years old.
I hope to see you at Fashion Island, and enjoying the Holiday season.
November 27th, 2009
Are You Guilty of Chasing the Market Down . . .
Are you Guilty of Chasing the Market Down . . .
When a seller is considering listing their home for sale, of course the seller wants to net the largest amount of money for the property. There are some considerations however, and one is that the home is worth exactly what someone is willing to pay for it at that specific time.
There are many considerations in what affects the value of a property. The value of a property will increase and decrease along with the overall economic and market conditions. Those are factors which cannot be influenced. Recently, the value of homes all over the country have been influenced by the economy, mortgage rates, foreclosures, short sales and overall general apprehension about purchasing a home in these conditions. Another consideration is the general condition of the property.
The v alue of a home only matters when you want to sell it or borrow against the home. The value of your property is worth exactly what a buyer is willing to pay and what you are willing to accept at the time you sell it.
It is imperative to price it competitively right when it is initially listed. If your home is priced too high because you are convinced that you can achieve more money . . . your home is different, your home has been upgraded or improved upon. The reality is – homes are worth so much per square foot, and this number can be determined by consulting your Realtor. The Realtor will do a comparative market analysis to determine price per square foot of actives, pendings and recent solds. If the price per square foot is not a number that you can live with, and you can afford to stay where you are, then don’t sell. You may want to wait until the market yields you a number that you feel is more competitive and worthwhile. However, if you have to sell, then pricing it too high may end up costing you more money in the long run as you wait for your home to sell.
If your home is priced too high to start, there may be showings initially, however, as the showings start to slow down, and then you may consult your Realtor to determine the status of your listing. Then, after the home has been listed for sale, consider if other similar or like properties are listed in the same neighborhood for less money, and then they sell! Imagine how this will affect your listing. This may cause the listing to become stale.
Also, if the home is priced too high, you may receive “low ball” offers. Low offers may be considered to be offensive, and do not necessarily need to be responded to, however, if the offer is within the realistic value of the home, then this offer should be considered. These offers are probably sending you a message that your property is not priced competitively. If you decide to lower the price, but not enough to be in sync with the market, then you may end up chasing the market down. No seller should be in that situation. As the home prices decrease, then they lower the price – but not quite enough to be in alignment with the “market”.
Consider at your Comparative Market Analysis and definitely consider your competition. These comparables should be considered carefully. Review at the listing price per square foot, and the sales price per square foot to ensure that you are in the game (make sure you are looking at recent solds). If you need to adjust your price, then do so, but be realistic. Consult with your Realtor on a weekly basis to ensure that you are on track to achieve your goal of selling your home. Don’t be guilty of chasing the market down . . .
If you are considering placing your Newport Beach home on the market, and would like a market assessment, please consult with me for more information about your Newport Beach property.
For information about Newport Beach luxury homes, Newport Beach Real Estate, please contact me.
Phone or Text: 949.280.0681
Email: Spaxson@roadrunner.com
November 24th, 2009
Season of Sharing – Orange County, CA
KTLA Season of Sharing – Orange County, CA
Today, November 24, 2009, Orange County and surrounding area residents can drop off non-perishable food items at the participating locations to benefit the hungry. Also, people can also drop off financial donations to help feed the hungry. This is the time of year to give and be generous, and thinking of others who are not as fortunate.
KTLA (a Southern California news station) along with other organizations including Share our Selves, Ralph’s Grocery Stores, the Second Harvest Food Bank, Los Angeles City and County Fire Departments, Orange County Fire Authority, and the Costa Mesa Fire Department combine their efforts to obtain food donations to feed Southern California individuals and families who are hungry. Last year, The KTLA Season of Sharing Food Drive helped to raise 87,500 pounds of food, and the goal for this year is over 100,000 pounds of food.
Below are some local locations where you can drop off non perishable food items.
Ralphs Grocery Store - #33
380 East 17th Street, Costa Mesa 92627
Ralphs Grocery Store – #650 in the Seacliff Area
19081 Goldenwest Street, Huntington Beach 92648
Ralphs Grocery Store – #131 Meadowlark
5241 Warner Ave., Huntington Beach, 92649
Orange County Fire Station #58
58 Station Way, Ladera Ranch 92694
Orange County Fire Station #61
8081 Western Avenue, Buena Park 90620
Orange County Fire Station #64
7351 Westminster Boulevard, Westminster 92683
Costa Mesa Fire Station #5 – Headquarters
2450 Vanguard Way, Costa Mesa 92626
For a complete list of all the locations for the Food Drive for the KTLA Season of Sharing website.
KTLA will be airing segments about this drive, and is at the Costa Mesa Fire Department on Vanguard Way.
Happy Thanksgiving.
November 21st, 2009
Newport Beach Top Ten Deals of the Week 11.21.2009
Newport Beach Top Ten Deals of the Week 11.21.2009
The Newport Top Committee met yesterday and reviewed price changes and new listings that are well priced for the area. One of our findings was that many properties have had price adjustments in the past two weeks.
The top ten best deals are standard sales or REO properties. We look at new listings, price adjustments, price per square foot and create a list of approximately ten properties to “make the list”.
The following is the list of Newport’s Top Ten best deals:
441 Dahlia Avenue
Corona del Mar, California
Priced at $1,250,000
This home has a gourmet kitchen which will be appreciated by someone who enjoys spending time in the kitchen. If you are a kitchen person, you must see this home in Corona del Mar. This home in Corona del Mar has had a price reduction of $225,000 earlier in the month. This is one of the best priced condo’s in the Village on the south side of Coast Highway with an Ocean View. Price per square foot is $625.
2615 Way Lane
Corona del Mar, California
Priced at $2,440,000
This home in Corona del Mar is located in sought after China Cove, this home has been completely remodeled with Ocean View. This home features three bedrooms and three bathrooms. China Cove is a very desirable community with approximately 37 homes located in Corona del Mar.
526 Riverside Avenue
Newport Beach, California
Priced at $2,225,000
Located in sought after Newport Heights has had several price adjustments. This home features five bedrooms and five bathrooms over 6000 square feet of living space..
522 Aliso Avenue
Newport Beach, California
Priced at $2,285,000
This home features five bedrooms, five bathrooms with six thousand square feet. It is located highly sought after Newport Heights. Per the MLS, this home has an assumable loan.
1908 Tustin Avenue
Newport Beach, California
Priced at $575,000
This home is at a competitive price in Newport Heights. The lot size for this property is 9450 square feet, and is an amazing opportunity to build your dream home. The current house is uninhabitable and not eligible for conventional financing. This is a great property for investors and builders.
125 24th Street
Newport Beach, California
Priced at $995,000
With a recent price reduction of $500,000. this ocean view home is located on the Balboa Peninsula. This an opportunity to own a single family residence at a condo price on the Peninsula.
504 K Street
Newport Beach, California
Priced at $1,995,000
This home located at Peninsula Point on the peninsula is a detached home which features four bedrooms, and three bathrooms with 2900 square feet of living space. The lot is oversized at approximately 3000 square feet. This home is upgraded and has had a recent price reduction down to $1,995,000.
2106 Yacht Mishchief
Newport Beach, California
Priced at $1,269,000
This home is the lowest priced home in Seaview in Newport Beach. This home has three bedrooms and three bathrooms.
5 Serenity
Newport Coast, California
Priced at $1,329,000
This is a highly upgraded home in Belcara is a plan one home with three bedrooms, and four bathrooms. There is a nice patio to enjoy outdoor living. There is also a three hole putting green to enjoy the California Climate.
For more up to date information or other great in and around Newport Beach, please contact me.
Phone or Text: 949.280.0681
Email Spaxson@roadrunner.com
This information originally posted at NewportTop10.
Disclaimer: Information contained herein are the views and opinions of Sharon Paxson. This information may be based on information from multiple sources, and may be subject to change without notice. This information is not guaranteed, have warranties either express or implied, may be time sensitive, and may or may not be deemed reliable at the time of researching this article. Information regarding property for sale and market reports is obtained from the SoCalMLS.
November 20th, 2009
China Cove in Corona del Mar
China Cove in Corona del Mar
Market Update
China Cove currently has four active listings, one pending. The most recent sale was February, 2008.
China Cove features some very beautiful homes in Corona del Mar.
China Cove is an exclusive and highly sought after community in Corona del Mar which is located below Ocean Boulevard, and down Fernleaf. There is no public parking in this exclusive area of China Cove.
China Cove is located at the entrance to Newport Harbor, and features approximately 37 homes that are located with panoramic views of Newport Harbor and Catalina Island. China Cove residents enjoy yachting activity in Newport Harbor, as well as the beach. China Cove is an exclusive area, that is below Ocean Boulevard, near The Village in Corona del Mar.
I was on Broker Preview yesterday and previewed some beautiful homes. You can see that these homes are built right down on the water.
Below is a view looking across the Harbor the the Newport Beach Peninsula Point and the homes located right on the water there.
Another view to be appreciated from the China Cove area looking out to the entrance to Newport Harbor. It was quiet yesterday because it is a weekday, however during weekends and summer months, there is a tremendous amount of yachting activity to appreciate.
Currently, there are four active listings in China Cove.
2615 Way Lane- Corona del Mar, CA – Priced at $2,440,000
2623 Cove Street - Corona del Mar, CA – Priced at $4,995,000
2717 Shell Street- Corona del Mar, CA – Priced at $6,700,000
This home is absolutely beautiful. It has had several price reductions and started out at $9,500,000. Located right on the edge of the water, it is truly a beautiful home.
2727 Shell Street - Corona del Mar, CA – Priced at $10,500,000
There is one pending at:
2733 Shell Street – Corona del Mar, CA – Priced at $1,995,000
The most recent salein China Cove in Corona del Mar was at:
2615 Way Lane, Corona del Mar, CA – Sold for $2,200,000 in February 2008.
If I can answer any questions about Real Estate in Corona del Mar, China Cove, Homes for Sale in Corona del Mar, or Newport Beach Real Estate, please contact me.
Phone or Text: 949.280.0681
Email: Spaxson@roadrunner.com
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