Orange County Real Estate

REAL ESTATE MARKET DATA FOR AUGUST 2013

The numbers are in for August 2013 I thought I would share them with everyone. I have illustrated the change from July of 2012. Green for an increase and Red for a decrease.

 

Newport Beach Single Family Homes Townhouse or Condo
# of New Listings 74 (25.4%) 43 (59.3%)
# of Pending Sales 54 (-29.9) 19 (-9.5%)
Average Sales Price $1,953,348 (1.2%) $866,673 (12.6%)
# of Homes for Sale 209 (-34.7%) 71 (-27.6%)

 

Costa Mesa Single Family Homes Townhouse or Condo
# of New Listings 86 (79.2%) 32 (39.1%)
# of Pending Sales 60 (71.4%) 34 (100.0%)
Average Sales Price $708,452 (28.5%)
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Today, I wanted to take a few moments to talk about some scams that are occurring in the Orange County Real Estate market so you can fully protect yourself and your investment.

The most common forms of real estate fraud in Orange County are equity fraud, flipping, and equity skimming. Here is what they are:

Equity fraud - this occurs when someone forges a property owners signature and obtains a loan against your home. Basically, they steal your equity. If your identity has been stolen at one point or if it has been stolen and you don't know you could be a target.

Flipping - This occurs when someone buys a home and resells it at an inflated price based on bogus appraisal values.

Equity skimming - The occurs when an owner sells a property to a

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Yesterday afternoon while enjoying some time on the water with some friends we were surprised to see a glimpse of the largest yacht most of us had ever seen. At 6 PM last night The Invictus arrived into Newport Harbor. This is the largest boat ever to cruise the waterways of Newport Harbor. It stands 5 stories tall and is over 216 ft long (or the size of a 20 story building).

Newport Beach Yacht

This newly completed boat has been in the news for the last couple of months as it was coming to Newport Beach for its christening. This yacht is owned by real estate developer and billionaire Rick Caruso.

I have been out on the waters here in Newport Harbor for the last 20 years and always love looking at the big yachts. I have to tell you this dwarfs everything

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For anyone looking for a townhome in a GREAT location in Newport Beach, this is it!

Newport Beach Townhomes for Sale

Located in Newport Crest, 8 Serena Ct in Newport Beach is a 2 bedroom (plus a loft) 2.5 bath townhome. Newport Crest is located just above PCH and is a fantastic community with a pool, spa, clubhouse, and tennis courts.

8 Serena Ct is an end unit and has been tastefully remodeled.

At almost 1600 square feet this is a great cost per square foot this close to the beach. This townhome has a large kitchen, separate dining room, and 3 decks all with nice ocean breezes!

Maybe work from home today in your loft which has been converted into a perfect office.

There is also a 2 car attached garage with laundry and direct access to the townhome.

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Well it's official Kobe Bryant and Vanessa are selling their home in Newport Coast. If you are a Lakers fan here is your chance to have Laker bragging rights with all your friends forever! 1 Pinnacle Point in Newport Coast is listed at $8,599,000.

Kobe Bryant Newport Beach Home for Sale

Its a small price to pay for a 8500 sqft palace in Newport Coast. Located on a half acre this Mediterranean estate has unobstructed ocean views (would you assume anything else) an 850 sqft gym, hair salon, and an office with shark tank (yes he has a shark tank).

Apparently basketball isn't the only thing the Kobe is good at. Kobe purchased the home for $1,700,000 in 1997... not a bad payday even if you get it at a discount. Currently the luxury home market in Newport Beach is

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Its always important to know your market so here are some stats from a few cities in Orange County from July of 2013. I have illustrated the change from July of 2012. Green for an increase and Red for a decrease.

Newport Beach Single Family Homes Townhouse or Condo
# of New Listings 90 (2.3%) 24 (-33.3%)
# of Pending Sales 75 (29.3%) 32 (18.5%)
Average Sales Price $1,921,781 (13.1%) $743,227 (-3.2%)
# of Homes for Sale 201 (-47.4%) 50 (-51.0%)

 

Costa Mesa Single Family Homes Townhouse or Condo
# of New Listings 82 (39.0%) 20 (-4.8%)
# of Pending Sales 55 (7.8%) 29 (7.4%)
Average Sales Price $750,392 (25.5%) $429,719
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Should you get a home inspection when you are buying a home? The answer is a resounding YES! When buying a home you never know what is going on behind the walls, in the attic, condition of plumbing, electrical systems, etc. You should always have a home inspection performed by a licensed individual. I thought a fun way to illustrate this would be to show you some photos from actual inspections to show you some of the things that have been found. Most times you will not find issues like this but they sure are funny to look at!

Newport Beach Home Inspections

Looks like they ran out of 2x4's. Good thing somebody was drinking!

It would almost be funny if it was from the same house as the picture above.

Apparently someone hasn't really quit smoking and felt that the

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