Its time for our 5th match up in our Newport Beach homes for sale March Madness Tournament. Todays match up is between 2 condos 394 Villa Point and 408 A E Balboa. So lets get to it.

394 Villa Point currently listed for $985,000

This condo is located right in the heart of Newport Beach. You are in between Fashion Island, Balboa Island, and the beach located on Newport Beach Country Club. Enjoy views of the golf course from every room! This home has been very tastefully remodeled.

The home is a 2 bedroom 2 bath with 1377 square feet. The complex is gated and amenities include a fitness center, pools, spa and clubhouse. This home shows like a model and no detail has been missed.

This home is being matched against 408 A E Balboa currently

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Its time for our 4th match up in our Newport Beach homes for sale March Madness tournament. Today's match up is between 2 very traditional homes on Balboa Island.

216 Crystal Listed for $1,395,000

This home is just recently back on the market with a nice price reduction. With almost 100 ft of frontage on Crystal Ave this home will not disappoint. The main home is 2 bedrooms and 2 baths and there is an extra unit above the garage that can be rented. Currently the main home is rented for $1950 and the extra unit for $1350.

Both units do have their own patios which is a real nice plus. The home has also been kept in pretty good shape, but could certainly benefit from a remodel.

We are matching this home up against 330 Amethyst

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Its time for our third match up in our Newport Beach homes for sale March Madness tournament. Today we will be looking two condos, 950 Cagney Ln #208 and 20402 Santa Ana Ave #13. Lets see how they match up.

950 Cagney Ln #208 is a condo listed currently listed for $525,000 and is .25 miles from the beach!

This highly upgraded 1 bedroom 1 bath condo shows like a model. It has travertine flooring, cherry wood cabinets, granite counters, and much more!

And a closet remodel that looks like it is right out of a magazine.

And finally the home has a patio that is perfect for entertaining.

The complex itself has 2 pools, spa, clubhouse, fitness room, tennis courts, and park like grounds throughout. If you are looking for a 1 bedroom

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Here is day 2 of our March Madness sweetest 16 homes for sale in Newport beach. Todays match up is between two detached single family homes in Newport Beach.

1729 Irvine Ave is currently listed for $789,000-$889,000.

Currently this is the lowest priced detached single family home in Newport Beach. This home sits on a nice size lot 8500 sq ft and has 3 bedrooms and 3 baths and a basement!

This home is 1600 sq ft and is located on Irvine Ave near Dover Shores. Also, the home has a circular driveway which is really helpful on Irvine Ave as it is a busier street. The home could use a remodel so if you are looking for a home with lots of potential at a low price in Newport Beach, this might be your house!

The second home we are looking at

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Its day one of our March Madness sweet 16 of homes for sale in Newport Beach. Today's match up is between 101 Scholz #233 and 1063 Dover Dr. Lets see how they stack up.

101 Scholz is a 1 bedroom condo and at $399,000 is currently the lowest priced home for sale in Newport Beach. At 817 square feet and less then a mile from the beach its a find. The complex is a little dated but the home itself has been beautifully updated with hardwood floors and granite counters in the kitchen and bathroom. The complex has quite a few nice amenities including pool, spa, gym, underground parking and a clubhouse.

1063 Dover Dr on the other hand is a 2 bedroom with 1053 square feet listed at $459,000. The complex (Dover Village) was recently renovated and most units

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In the spirit of March Madness, I thought it might be fun to create our own brackets with the sweetest 16 homes for sale in Newport Beach. Each day for the next 8 days, I will post a "match up" of two homes with some information about each home and in 9 days any homes that have sold are our winners!

There will be two divisions: condos and single family homes.

CONDOS

Match up #1

101 Scholz #233 Listed for $399,000 vs

1063 Dover Dr Listed for $459,000

Match up #2

950 Cagney Ln #208 Listed for $525,000 vs

20402 Santa Ana Ave #13 Listed for $525,000

Match up #3

394 Villa Point Listed for $985,000 vs

408 A E Balboa Listed for $1,150,000

Match up #4

1018 Bayside #509 Listed for 1,850,000 vs

310 Fernando St #410 Listed

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As I write this post honestly I feel like I am losing a friend.  Most people in Newport Beach have been to Villa Nova many times and is a place I highlight to newcomers looking to buy a home in Newport Beach. Located on Mariners Mile in Newport Beach, It was on the water, had great food, great wine and a great staff.  On February 28th 2013 Villa Nova was sold at a public auction for $6,000,000.  The buyer, Newport Beach resident Mike Moshayedi who owns Joe's Crab Shack says he will be entertaining offers to bring a new restaurant to the site with a hope of opening a new restaurant there sometime near the end of the year.  Right now the leading contender is The Winery Restaurant & Wine Bar currently located in Tustin.  So for those who have been many times…

Well the bottom is in, says Data-Quick Information Systems (a national real estate data tracking company).  Orange County home prices have moved by the biggest margin in 8 years!  As of Feburary 2013 the midpoint of all sales in Orange County was $477,000 a increase of 22.3% in the last 12 months.  Looking back since the crash the lowest midpoint of all sales in Orange County was in January 2009 where the midpoint was $370,000 and the highest was in June of 2007 at $645,000.  

Bottom line, prices are moving up and rates couldn't be any lower.  If you are thinking about buying a home in Newport Beach, Orange County areas or its just time to upgrade your existing home, contact us today!

Due to exceptionally low interest rates and low prices as a buyer it can be a challenge to not only find a place you want to purchase but also to have your offer accepted. Many properties are receiving multiple offers within the first 24 hours. For sellers this is great news, but for buyers it can be a frustrating experience.

What to expect?

As a buyer if you are putting down less then 20% expect to make multiple offers on different properties before you will find an offer that will be accepted. If you are putting down more then 20% or even making an "all cash" offer your chances of having an offer accepted increase dramatically.

How much to bid?

In January 2013 the average price for a single family home in Newport Beach was $1,730,597 and

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