Newport Beach Real Estate Cafe » General Information

Utilizing Electronic Signatures in Real Estate Transactions

Sharon Paxson — Tue, 24 Jan 2012 05:56:55 +0000

When you are in the process of interviewing and selecting Newport Beach Real Estate agents, an important consideration is if that agent utilizes electronic signatures on the real estate contracts and documents. As part of my practice as a Newport Beach Realtor, I utilize electronic signatures for all my Real Estate transactions, and I utilize a program called Docusign. I have been utilizing this program for several years now. Initially it was ideal for out of state clients, however now I utilize it with all my clients and they all appreciate the sophistication and ease it affords them.

Docusign is an amazing program which allows my clients to sign their documents and contracts without ever having to print out a document, sign it, scan it, or fax it to return it. This improves the quality of the documents as well as they are not constantly being faxed over and over again reducing the quality of the document.

With the use of Docusign, a document can be signed electronically. Some of my clients have even signed right from their smart phone of iPad.

Once a document is signed by all parties, it is returned to the originator where it can be saved as a PDF and sent,

With the use of Docusign, it eliminates the following:

Printing (saves paper)
Signing (with ink)
Scanning or Faxing

And it is a green program, saving paper in the process because it is all done electronically. So my clients prefer that, and they really like the convenience of utilizing this program.

You may want to ask the Newport Beach Real estate agents you are interviewing if they utilize Docusign or some other method of electronic signature. With Real Estate transactions, time is of the essence, and it is imperative to get documents signed and back to the other party in a timely manner. Docusign helps facilitate this.

Real Estate in general is evolving with technology, and it is important to have a Newport Beach Real Estate agent who is utilizing all the tools that will assist you with the purchase or sale of your home. And it benefits you – as the buyer or seller to select an agent who utilizes Docusign.

If I can answer any questions about the use of Docusign, please contact me.

Sharon Paxson

I write about my passion of living the SoCal lifestyle in beautiful Newport Beach. I like to write about the local events, beaches, restaurants, and real estate updates in the area. Call or text me - 949.280.0681

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Newport Beach Junior Lifeguard Try-Outs | 2012

Sharon Paxson — Thu, 19 Jan 2012 06:32:20 +0000

Newport Beach Junior Lifeguard Try-Outs

The Newport Beach Junior Lifeguard try-outs are going to be held starting next month at Corona del Mar High School. Corona del Mar High School is located at:

2101 Eastbluff Drive
Corona del Mar, CA 92660

The Newport Beach Junior Lifeguard tryouts will be held rain or shine on the following dates:

Sunday – February 6th 9am – 12noon
Sunday, February 13th 9am – 12 noon
Tuesday, February 15th 6:30pm – 8pm
Sunday- February 19th 9am -Noon
Sunday, February 20th 9am – 12 noon
Tuesday – February 22nd 6:30pm – 8pm
Monday – February 27th 6pm – 8pm
Tuesday – March 1 6:30pm- 8pm
Sunday – March 4th 9am -Noon
Monday – March 5th 6pm – 8pm
Sunday – March 11th 9am -Noon
Monday – March 12th 6pm – 8pm

Make sure that your child has been practicing for this event, as it is coming up soon in the next few weeks.

The Newport Beach Junior Lifeguard is a great program. Both of my daughters participated in this event, and they learned about ocean safety and beach safety. My older daughter is now an ocean lifeguard at Huntington State Beach. The photos in this post are of an event of the Newport Beach Junior Lifeguard program called the monster mile, where the Newport Beach junior guards run a mile and swim back a mile.

The Newport Beach Junior Lifeguard only accepts 1250 participants for the summer program which is beginning on June 27, 2011 and runs through August 16, 2011.

The criteria for the 2011 swim test is as follows:

The Junior Lifeguard candidates will be able to swim 100 yards under the time standard for each specific age group. And the Junior Lifeguard candidate be able to tread water for three minutes.

The following are the age requirements Junior Lifeguards as of June 25, 2012.

9 Year Olds – 1:55
10 – 11 Years – 1:45
12 – 13 Years – 1:40
14 – 15 Years – 1:35

Additionally, you will need to bring the following information to the swim test:

A copy of the candidate’s birth certificate or Passport must be presented prior to taking the swim test to verify the age.

Newport Beach Residents and residents from out of the area are able participate in the Newport Beach Junior Lifeguard program. To register as a Newport Beach Resident, there are three forms of identification are required. View the Newport Beach Junior lifeguard website for more information.

For more information, view the Newport Beach Junior Lifeguard program website. Or contact the Newport Beach Junior Lifeguard program at 949.675.8420.

Sharon Paxson

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Preparing Your Newport Beach Home to Sell | Managing Your Listing | Part 5

Sharon Paxson — Sun, 15 Jan 2012 18:15:38 +0000

You have prepared to sell your Newport Beach home to sell, and you have addressed deferred maintenance, made necessary repairs, you are thinking like a buyer, you have selected your Newport Beach Realtor, and this post will be addressing managing your listing. This is the last post in the series of preparing your Newport Beach home to sell, and the next series will be on the process and steps of selling your home.

Important considerations include the following:

Put away valuables and prescription drugs. Don’t keep them in a drawer, sometimes prospects open drawers. This is for your own safety.
I mentioned in the first post, remove personal photographs. Prospects and even Real Estate agents get distracted and look at personal photos. You want your home to be as generic as possible. I have had showings when the Real Estate agent walked around and looked at every single personal photograph in the property.
Keep home organized and clean during listing period – including beds made, dishes done, counters clean, etc. You never know when you are going to have a showing. Also, keep your yard clean as well especially if you have a pet.
Regarding showings, are you going to require an appointment to view the property? That is a discussion for you and your Real Estate agent. Keep in mind easy access to the property is preferred, however if you have children, pets that need to be managed, perhaps consider a couple of hours notice.
Don’t stay in the house when the Agent comes to show your house. Buyers generally do not feel comfortable if the owner’s are in the house. If you have a pet – go and take it for a walk during the showing.
Are you going to require your Real Estate agent to be there for all showings? Every homeowner is different. I can argue both sides of this – by having the listing agent in the property then they can describe amenities and neighborhood as well if someone is from out of area. However, sometimes a buyer prefers to only have their agent with them as they tour the property.
Consider the use of an electronic lock box. First of all they can be programmed to only allow it to operate during certain hours (which is something I do). The benefit of lock boxes is that it is easy access, the agent has to be a member of the board to utilize the lock boxes (as opposed to combo lock boxes), and lastly the lock box records everyone who enters the property and the listing agent can see their name, email, and contact information. I utilize this to contact the agent for feedback so I can pass it along to the seller/owner.
Is your Agent going to hold Broker Preview or opens? This is something that I do recommend and think it is beneficial as it allows the agents to come through the property who may have a buyer for your property.
Are you going to allow open houses? Again a discussion for you and your real estate agent. Open houses typically do not sell homes, however it does happen.

One last comment, if you do not get a lot of action during the first two weeks that your property is listed for sale, then you need to consider the price. You may be above the market.

If I can answer any questions about preparing your home to sell, please contact me.

Read the entire series here on preparing your home to sell.

Addressing Deferred Maintenance
Getting Top Dollar
Think Like a Buyer
Selecting Your Realtor
Managing Your Listing

Sharon Paxson

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Preparing Your Newport Beach Home to Sell | Select a Realtor | Part 4

Sharon Paxson — Sat, 14 Jan 2012 07:07:15 +0000

You are preparing to sell your Newport Beach home to sell, and you have addressed deferred maintenance, made necessary repairs, and you are thinking like a buyer. So the next step is to select a Newport Beach Realtor.

Here are some considerations when you are selecting your Newport Beach Realtor to represent you in the sale of your home.

1. It is important to be objective when selecting a Realtor, and it is important to hire someone who you feel can appropriately represent you with the sale of your home.

2. You may get lots of recommendations about different Realtors including someone who is your sister’s cousin and works part time. Think again!! You want a full time Realtor. Keep in mind you are selling a very large investment and you want an experience real estate agent who can help obtain the greatest return on your investment.

3. Hire a Realtor who is local in your area and knows the community. Is there a neighborhood expert? Then you may want to Google your neighborhood to determine who that is. Keep in mind if you are utilizing Google or any of the search engines to obtain information about your neighborhood, then so are YOUR BUYERS!! Out of area Real Estate agents may not know city requirements, or when Broker Preview is, or be a member of the local board.

4. Communication is essential when you are interviewing agents. Does the agent answer their phone, do they return calls in a timely manner – this is common sense – but keep in mind when the buyers are calling that agent on YOUR property. The manner of communication is important as well – do you prefer texts, emails or calls? Establish that right up front!!!

5. Consider the marketing plan your the Real Estate agent presents. How are they going to market your home? Is it going in the MLS and that is it – or does the agent work other forms of internet market. Are they primarily utilizing print media – you might want to consider this! With over 90% of buyers starting their home search on line, it is imperative that you have an agent that embraces internet marketing. From property websites all the way to community descriptions, buyers are seeking information – and detailed information. Buyers want to know about schools, community information, local shopping areas, and how living in a certain community will fit their lifestyle.

Now you have narrowed down or selected your Newport Beach Realtor, and it is time to start thinking about managing your home while it is listed.

Read the series about preparing your home to sell:

Addressing Deferred Maintenance
Getting Top Dollar
Think Like a Buyer

Sharon Paxson

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Preparing Your Newport Beach Home to Sell | Start Thinking Like a Buyer | Part 3

Sharon Paxson — Wed, 11 Jan 2012 06:24:50 +0000

This is part 3 in a series of Preparing Your Newport Beach home to sell. You can read about part 1 addressing deferred maintenance, and part 2 getting top dollar for your Newport Beach home.

Selling your home for sale is a process, and preparation is key to getting top dollar for your home. Also, this post is to provide you with information on what to expect with the home selling process.

The next step for you is to start thinking like a buyer. Homes often have extreme emotional attachment, and that is entirely understandable. You raised your children in your home, your child’s graduation party was at your home, not to mention all the holiday dinners and celebrations. I get it, we correlate the memories with the home and then it those emotions effect your ability to negotiate with a potential buyer.

If you realize that you are emotionally attached to the home, and if you really want to sell, then it is time to become objective. And I mean completely objective about your property and how others are going to perceive and “see” it.
As stated in the earlier posts, keeping it as neutral as possible is the most desirable to appealing to the masses.
Don’t be offended by feedback from agents and their buyers. Keep in mind, EVERYONE has different taste.
Think like a buyer and start going out to look at homes that are comparable to your home, be objective. Write down what you like and what you didn’t. How did the home show, what did you think of price?
Evaluate different neighborhoods near your home, and walk into open houses. What did you like about the home? How did it feel, did it smell clean?
Start looking for homes in the area that you are moving to next.

If you are thinking like a buyer, then it is a good time to start thinking about Selecting Your Newport Beach Realtor which you can read about tomorrow in part 4.

Read the Series on Preparing Your Home to Sell in Newport Beach

Part 1 – Addressing Deferred Maintenance
Part 2 – Getting Top Dollar for Your Home

Sharon Paxson

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Preparing to Sell Your Newport Beach Home | Getting Top Dollar | Part 2

Sharon Paxson — Tue, 10 Jan 2012 04:51:28 +0000

This is part 2 in a series about Preparing your Newport Beach home to sell. You can read about addressing deferred maintenance in part 1 of this series.

1. One of the most important steps to take when preparing your Newport Beach home to sell is to de-clutter. What that means is to remove knick knacks and anything that creates the look of clutter. Less is more, and it will improve the overall appearance of the home. Even mail laying on the counter top can look cluttered. Is your kitchen organized? Put extra cooking supplies and spices away to create a more open space. Organize drawers and closets, because buyers do look, and this can be a reflection on how the home has been maintained.

2. I would recommend putting away personal photographs, and have the home look as neutral as possible. I have seen buyers and even other agents stop to look at the photos. They want to know if they “know” that person, or are just being curious. Put them away, don’t distract buyers from looking at the house.

3. Does your home need fresh paint? Nothing makes a home look fresh and bright than a fresh coat new paint. If the interior paint needs to be repainted, then do so. Another good suggestion is to touch up the baseboards and crown molding. Evaluate the exterior paint as well on your Newport Beach home. When you are choosing paint, select a neutral color. Keep in mind, you want to appeal to the masses – so try and avoid that turquoise paint!

4. How is the flooring in your Newport Beach home? Is the carpet clean, and more importantly – is it worn? Then you may need to consider replacing the carpet.

5. If bedrooms are smaller, consider using mirrored wardrobe doors in the bedrooms to enhance space and light.

6. Another tip – add healthy house plants in strategic locations to create a warm feel in the Newport Beach home.

7. How does the exterior and landscaping look. Add annual color. Annual flowers always look great, and it is an inexpensive way to improve the curb appeal of the home. Along the same lines, how is the landscaping in general? Do trees need trimming? If so, consult with a professional Arborist to have them professionally trimmed to preserve the integrity of the trees.

8. Make sure to clean all windows, and repair and / or replace screens if needed. If you area has hard water – be sure to remove hard water spots from showers and glass enclosures.

10. Keep fireplace clean if wood burning, and add un-burned wood if you are not using it. Another idea is if you have a fireplace that you do not use, then add pillar candles at different heights to create a nice effect.

12. Clean out your raingutters as well, because that is something a potential home buyer will see, and a home inspector will definitely make that recommendation once the house is in escrow.

Keep in mind a professional staging consultation may be in order as well.

Read about Part 1 – Deferred Maintenance of the series.

Please let me know if you have any questions.

Sharon Paxson

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Preparing to Sell Your Newport Beach Home | Address Deferred Maintenance | Part 1

Sharon Paxson — Sun, 08 Jan 2012 05:59:24 +0000

Are you considering selling your Newport Beach home. This is part 1 in a series to provide information to you in the home selling process and preparing your home to sell, and the necessary steps that need to be taken when selling your home.

Does your home have deferred maintenance? You are planning on selling your Newport Beach home, and don’t want to invest the extra money to repair items on the home that need attention. You might want to think again!

Keep in mind that most (if not all) buyers will perform a home inspection and when they do, any deferred maintenance will show up. The inspector will document about all the systems of the home including HVAC, plumbing, electrical, kitchen appliances, etc. If you know that there is are items which need to be addressed such as a plumbing leak – I HIGHLY recommend that this be addressed. A concern would be if a buyer wants to purchase the property and they start to see “things” that need to be addressed, and the buyer will wonder – if that needs to be addressed, then what else needs to be addressed.

My recommendations would be:

Have the HVAC inspected and ensure it is working properly.
Make sure there are not additional visitors in the property (i.e. rodents) because that will not only be documented by the home inspector, but also by the termite company which is another inspection which is typical and customary in California.
Are there plumbing issues? If there are leaks, then repair them right away, water can be very damaging to a property.
How is the roof? Does it leak? Are there water stains on the ceiling? These are things that a buyer may see, or if not a home inspector will, and may recommend an additional roof inspection.
Do you have a pool or a spa? Is it serviced on a regular basis?
Do the windows open and close smoothly?
Is there a fireplace? Has the chimney been swept lately?
Is there a fountain or water feature outside? Does it operate properly or is it filled with green moss?

If you are selling your home, repair the basics. If there are issues with systems and you trying to save money, then think again. Your potential buyer will see these items if they are savvy, and will ask their agent to negotiate in their behalf because of the deferred maintenance. And, it will come up on the home inspection, and the buyer may ask for it to be repaired, or they might be scared away. Do you want to take that chance?

If you are not willing to make those repairs, and there are those sellers who do not want to, then price it accordingly.

This is part 1 in a series of Selling Your Home.

Sharon Paxson

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Renting a Newport Beach, CA Home | Tenants can Check out their Landlord

Sharon Paxson — Fri, 06 Jan 2012 07:11:38 +0000

Are you considering renting a home in Newport Beach? If you are renting anywhere in Orange County, it can be an overwhelming process. And the prospective tenant has to be aware of all the scams on the internet these days and make sure that the listing is real. There are scams including “cash for keys” where the prospective tenant hands over cash in exchange for keys to a property.

I highly recommend working with a Newport Beach Real Estate Agent and that way the agent can insure the property is actually listed for lease (and not a scam).

Additionally, are you concerned if you lease a property that the owner/landlord is continuing to make the payments on the mortgage? As a Realtor, I cannot guarantee that the owner/landlord will continue to make payments on the mortgage, however on behalf of the prospective tenant, a Realtor can call the Title company and make sure that taxes are current and paid, that there are no liens on the property, and the mortgage is current (within a specific time frame as Title can typically only look back so far). This is information that can be provided to a prospective tenant so the tenant can make an informed decision about the property they are considering renting.

And there is a method in which you can check out your prospective Landlord ! The landlord is going to conduct their due diligence and look at credit, background checks, look at bank accounts, etc. Well, as a tenant, why not check out your landlord. Check out Checkyourlandlord.com which is a website that will allow Newport Beach and Orange County renters to check out their prospective landlords’ ownership status and if there are any liens on their property.

It is another great tool to utilize while searching for a Newport Beach home for rent.

Search the MLS for Newport Beach homes for rent.

Showing properties 1 - 50 of 156. See more Newport Beach Homes for Rent.
(all data current as of 2/4/2012)

$3,800 : 107 Sonora ST, Newport Beach

3 beds, 2 full baths

Home size: 1,500 sq ft

Lot size: 2,700 sq ft

Year built: 1973

Parking spots: 4

Days on market: 1
$2,400 : 7311 Seashore Dr, Newport Beach

3 beds, 1 full, 1 part baths

Home size: 947 sq ft

Lot size: 2,430 sq ft

Year built: 1960

Days on market: 1
$2,450 : 40 Canyon Island Dr 40, Newport Beach

2 beds, 2 full baths

Home size: 1,248 sq ft

Year built: 1976

Parking spots: 4

Days on market: 2
$6,850 : 8 Sherwood, Newport Beach

4 beds, 3 full baths

Home size: 3,000 sq ft

Lot size: 6,000 sq ft

Year built: 1998

Parking spots: 4

Days on market: 3
$4,200 : 2405 Vista Nobleza, Newport Beach

3 beds, 2 full baths

Home size: 1,800 sq ft

Lot size: 4,409 sq ft

Year built: 1970

Parking spots: 4

Days on market: 3
$12,000 : 110 Via Trieste, Newport Beach

4 beds, 4 full, 2 part baths

Home size: 5,000 sq ft

Lot size: 6,160 sq ft

Year built: 1937

Parking spots: 6

Days on market: 3
$5,300 : 112 Via Florence, Newport Beach

3 beds, 2 full baths

Home size: 1,810 sq ft

Lot size: 3,600 sq ft

Year built: 1956

Parking spots: 4

Days on market: 3
$9,000 : 1 Bay Island, Newport Beach

3 beds, 4 full baths

Home size: 99,999 sq ft

Lot size: 2,900 sq ft

Year built: 1950

Parking spots: 4

Days on market: 3
$2,950 : 507 E Bay Ave A, Newport Beach

2 beds, 2 full, 1 part baths

Home size: 1,050 sq ft

Lot size: 2,250 sq ft

Year built: 2012

Parking spots: 4

Days on market: 4
$1,900 : 507 E Bay Ave B, Newport Beach

1 bed, 1 full bath

Home size: 750 sq ft

Lot size: 2,250 sq ft

Year built: 2012

Parking spots: 4

Days on market: 4
$1,900 : 505 E Bay Ave B, Newport Beach

1 bed, 1 full bath

Home size: 750 sq ft

Lot size: 2,250 sq ft

Year built: 2012

Parking spots: 4

Days on market: 4
$2,950 : 505 E Bay Ave A, Newport Beach

2 beds, 2 full, 1 part baths

Home size: 1,050 sq ft

Lot size: 2,250 sq ft

Year built: 2012

Parking spots: 4

Days on market: 4
$5,900 : 30 Balboa Cvs, Newport Beach

3 beds, 1 full, 1 part baths

Home size: 2,265 sq ft

Lot size: 6,345 sq ft

Year built: 1954

Parking spots: 4

Days on market: 4
$2,195 : 101 Scholz Plz 135, Newport Beach

2 beds, 1 full, 1 part baths

Home size: 1,392 sq ft

Year built: 1971

Parking spots: 2

Days on market: 5
$3,795 : 302 Avenida Cumbre, Newport Beach

3 beds, 2 full, 1 part baths

Home size: 1,875 sq ft

Lot size: 1,475 sq ft

Year built: 1964

Parking spots: 4

Days on market: 7
$3,275 : 1306 Colony Plaza, Newport Beach

2 beds, 2 full baths

Home size: 1,273 sq ft

Year built: 1997

Parking spots: 4

Days on market: 9
$2,905 : 2426 Colony Plaza, Newport Beach

1 bed, 1 full bath

Home size: 1,008 sq ft

Year built: 1997

Parking spots: 4

Days on market: 9
$3,415 : 1204 Colony Plaza, Newport Beach

2 beds, 2 full baths

Home size: 1,365 sq ft

Year built: 1997

Parking spots: 4

Days on market: 9
$4,350 : 2801 Carob St, Newport Beach

4 beds, 2 full baths

Home size: 2,009 sq ft

Lot size: 13,395 sq ft

Year built: 1964

Parking spots: 4

Days on market: 9
$3,575 : 4415 Colony Plaza, Newport Beach

2 beds, 2 full baths

Home size: 1,273 sq ft

Year built: 1997

Parking spots: 4

Days on market: 9
$1,800 : 34 Corsica DR, Newport Beach

2 beds, 1 full, 1 part baths

Home size: 980 sq ft

Year built: 1987

Parking spots: 2

Days on market: 10
$5,500 : 24 Balboa CVS, Newport Beach

2 beds, 2 full baths

Home size: 1,900 sq ft

Lot size: 4,840 sq ft

Year built: 1951

Parking spots: 4

Days on market: 11
$3,600 : 1732 SKYLARK LANE, Newport Beach

3 beds, 1 full, 2 part baths

Home size: 1,819 sq ft

Lot size: 8,910 sq ft

Year built: 1959

Parking spots: 4

Days on market: 12
$5,500 : 2 Hermitage Ln, Newport Beach

4 beds, 2 full, 1 part baths

Home size: 2,767 sq ft

Lot size: 13,843 sq ft

Year built: 1971

Parking spots: 6

Days on market: 12
$6,000 : 54 Hillsdale Dr 31, Newport Beach

3 beds, 2 full, 2 part baths

Home size: 2,428 sq ft

Year built: 1985

Parking spots: 4

Days on market: 13
$2,599 : 270 Cagney Ln 306, Newport Beach

2 beds, 1 full, 1 part baths

Home size: 1,181 sq ft

Year built: 1985

Parking spots: 2

Days on market: 13
$2,000 : 315.5 Diamond, Newport Beach

2 beds, 2 full baths

Home size: 750 sq ft

Lot size: 2,550 sq ft

Year built: 1926

Parking spots: 2

Days on market: 14
$2,500 : 315 Diamond AVE, Newport Beach

3 beds, 1 full, 1 part baths

Home size: 1,500 sq ft

Lot size: 2,550 sq ft

Year built: 1926

Parking spots: 2

Days on market: 14
$3,500 : 124 31st St, Newport Beach

3 beds, 2 full baths

Home size: 2,375 sq ft

Lot size: 2,375 sq ft

Year built: 1973

Parking spots: 4

Days on market: 15
$2,995 : MLS # S685450 in Newport Beach

2 beds, 1 full, 1 part baths

Home size: 1,200 sq ft

Lot size: 3,700 sq ft

Year built: 1995

Parking spots: 2

Days on market: 15
$2,800 : 319 Lugonia St, Newport Beach

2 beds, 1 full, 1 part baths

Home size: 1,167 sq ft

Lot size: 2,720 sq ft

Year built: 1962

Parking spots: 4

Days on market: 16
$8,300 : 96 Old Course Dr, Newport Beach

3 beds, 2 full, 2 part baths

Home size: 3,800 sq ft

Lot size: 7,894 sq ft

Year built: 1999

Parking spots: 6

Days on market: 17
$2,700 : 2644 Vista Del Oro, Newport Beach

3 beds, 1 full, 2 part baths

Home size: 1,452 sq ft

Lot size: 2,543 sq ft

Year built: 1969

Parking spots: 4

Days on market: 17
$4,950 : 224 Via Palermo, Newport Beach

4 beds, 3 full baths

Home size: 2,400 sq ft

Lot size: 4,400 sq ft

Year built: 1954

Parking spots: 4

Days on market: 17
$9,000 : 11 Crestwood, Newport Beach

7 beds, 6 full, 1 part baths

Home size: 6,137 sq ft

Lot size: 11,050 sq ft

Year built: 1981

Parking spots: 9

Days on market: 18
$6,500 : 222 Grand Canal, Newport Beach

4 beds, 1 full, 2 part baths

Home size: 2,336 sq ft

Lot size: 2,465 sq ft

Year built: 1965

Parking spots: 4

Days on market: 18
$5,200 : 2527 Blackthorn St, Newport Beach

4 beds, 3 full, 1 part baths

Home size: 2,300 sq ft

Lot size: 10,366 sq ft

Year built: 1964

Parking spots: 4

Days on market: 18
$30,000 : 1752 E Oceanfront, Newport Beach

4 beds, 5 full, 1 part baths

Home size: 4,000 sq ft

Lot size: 8,000 sq ft

Year built: 2010

Parking spots: 4

Days on market: 18
$11,000 : 909 Almond Pl, Newport Beach

6 beds, 4 full, 1 part baths

Home size: 5,000 sq ft

Lot size: 13,013 sq ft

Year built: 2002

Parking spots: 6

Days on market: 18
$7,500 : 24 Cape Andover, Newport Beach

4 beds, 4 full baths

Home size: 3,880 sq ft

Lot size: 6,246 sq ft

Year built: 1997

Parking spots: 6

Days on market: 18
$975 : 1681 Pegasus St, Newport Beach

1 bed, 1 full bath

Home size: 500 sq ft

Lot size: 8,205 sq ft

Year built: 1965

Parking spots: 2

Days on market: 23
$3,000 : 20121 Spruce, Newport Beach

3 beds, 1 full bath

Lot size: 8,100 sq ft

Year built: 1951

Parking spots: 6

Days on market: 23
$2,495 : 20312 Cypress St 1, Newport Beach

3 beds, 1 full bath

Home size: 900 sq ft

Lot size: 3,000 sq ft

Year built: 1942

Parking spots: 1

Days on market: 24
$13,000 : 2508 W Oceanfront, Newport Beach

4 beds, 3 full, 1 part baths

Home size: 2,600 sq ft

Lot size: 1,875 sq ft

Year built: 2002

Parking spots: 4

Days on market: 24
$6,500 : 60 Victoria, Newport Beach

5 beds, 3 full baths

Home size: 3,000 sq ft

Lot size: 5,096 sq ft

Year built: 1999

Parking spots: 4

Days on market: 24
$1,975 : 186 Villa Point Dr, Newport Beach

1 bed, 1 full bath

Home size: 792 sq ft

Year built: 1991

Parking spots: 2

Days on market: 25
$7,400 : 914 Chestnut Pl, Newport Beach

4 beds, 4 full, 1 part baths

Home size: 4,200 sq ft

Lot size: 9,500 sq ft

Year built: 2000

Parking spots: 4

Days on market: 25
$3,700 : 2888 Bayshore DR, Newport Beach

2 beds, 2 full, 1 part baths

Home size: 1,512 sq ft

Year built: 1960

Parking spots: 1

Days on market: 26
$1,950 : 2888 Bayshore DR, Newport Beach

1 bed, 1 full bath

Home size: 742 sq ft

Year built: 1960

Parking spots: 1

Days on market: 26
$1,199 : MLS # S684014 in Newport Beach

1 bed, 1 full bath

Home size: 400 sq ft

Lot size: 600 sq ft

Year built: 2010

Days on market: 28

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Sharon Paxson

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How to Determine Fair Market Value of Your Newport Beach Home

Sharon Paxson — Thu, 05 Jan 2012 06:33:09 +0000

Fair Market Value

You are considering selling your Newport Beach home, and would like to determine the fair market value of the property. There are many considerations you need to be aware of when it is your “own” home as you selected it, you made improvements to it, and spent time with your family in that home so of course there will be emotional attachments.

Given that there may be emotional investment and attachment to the home, it may be difficult to be objective or realistic with regards to the “actual fair market value” of the home.

Become Objective about Your Newport Beach Home

What that means is you need to put yourself in a a buyers shoes. What does a buyer see when they walk in the door? A great way to get yourself thinking like a buyer is to act like a buyer. Go to open houses, look and see how the homes show, what do you notice? How does the home show?

It is imperative that you are objective so that you can establish fair market value and determine what someone else would pay for your house. This means that you have to abandon your emotional attachment to the home as I discussed earlier.

Obtain Current Comparable Market Analysis from your Newport Beach Real Estate Agent

When looking at comparable sales, you must consider all the sales over a specific time frame. I typically look back as far as six months to review trends, however for a CMA I will go back four months to establish comparable sales. An appraiser will most likely only go back four months. Consider all the sales including distressed property sales (REO sales and short sales) as they are real comparable sales. Look at original list price to sales price. If the home has a high number of days on market, was it because it was the property was priced above market value?

And a word of advice, do not take it personally. No one is trying to say your home is worth less than you think it is, it is important to be realistic with setting the price correctly right from the beginning. If not, you are taking the risk of chasing the market down. Ultimately, you will end up with less money. And, an agent who over prices a home to get the listing may be doing you – the seller a disservice.

Take into Account Current Market Conditions

What is the unemployment rate? How is the economy in general in your city, the state and the country in general? Any new laws pass which may influence the economy? What are interest rates doing now? These are all factors which affect the housing market. If the economy is unstable, that influences whether or not buyers will buy and want to make the investment. Buyers become more cautious with their money and not sure about investing when the economy is down. So – that means less buyers in an unstable economy.

Look at the absorption rate of the market as well. The absorption rate is basically the amount of time the housing market will absorb the homes available on the market. That can be determined based on active listings in a specific area, and sales by month.

At the end of the day, the fair market value of a home is determined by the general economy and based upon recent comparable sales.

If I can answer any questions about determining fair market value, please contact me.

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Sharon Paxson

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Beautiful Newport Beach Sunset

Sharon Paxson — Thu, 05 Jan 2012 04:12:53 +0000

It was like a summer day today in Newport Beach, people were going to the beach and enjoying the climate. It was in the high 70′s. The water temp not as warm, but I did see a fair number of surfers out on my way to meet a client, however they all had on wet suits.

I wanted to share this photo with you, sun was setting behind Catalina Island and the sun was reflecting in Newport Harbor.

Sharon Paxson

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