Corona del Mar Christmas Walk Sunday, Dec. 6

If you want to do something fun this weekend, head over to Corona del Mar in Newport Beach for the Christmas Walk. This is the 31st year that CdM has hosted this visit. Last year I volunteered with the fireman serving up a BBQ. This year I am enjoying the event with a couple of girlfriends. I have lived in Newport Beach for almost 10 years and this is the one event I see just about anyone I have ever met in Newport. Usually we start around 11:00 at Oysters and make our way down to Bandera. The village shops will set up tables outside their stores with samples of food, clothing, or whatever they are selling. I am hoping the weather cooperates. This will be a very busy event.

www.PropertiesInTheOC.com

$38,000,000 Landmark Home in Corona del Mar

Yes, you read that correctly. This home is on 401 Avocado. If you are not familiar with Corona del Mar, the streets are named after flowers and are in alphabetical order. This home is 4 bed/4 baths with a tennis court, guest apartment, indoor pool.....and amazing views of the channel, catalina and Newport Beach Peninsula. I will also add that it is on 2.3 acres. When I saw this home come up on broker preview this week, I was very excited to see it. I thought this home has to have the "wow" factor. I was a little disappointed after arriving at 401 Avocado. This home is turquoise. If you are from this area, you will notice this house and a building on the water that are the same turquoise color. I heard while on one of the boat tours of the bay that as long as this home was in the Irvine family, that the color needed to stay turquoise. Let's hope the new owners change the color. I am guessing that the new owners will probably tear it down and build a new home. The home needs a lot of work. There were some very nice antiques in the house, but clearly, the home needs a little love. I would love to hear of the stories that those walls could tell. You could tell it was a home that was dearly loved by everyone that stayed there.....very much a family home. I could imagine big Christmas parties there every year.

But, for $38 million? This home is not on the water......and the home needs to be updated. If someone wanted the land, it may be worth it. I heard from another realtor that the land could not be broken up in to a couple of lots.

Anyway, a fun house to talk about. I am guessing this home will be on the market for a while. I am also guessing the Irvine family that lives there, is in no rush to sell.

The picture of the Rolls Royce is for fun. Even in Newport, you don't see them all the time.

Lisa@PropertiesInTheOC.com

www.PropertiesInTheOC.com

China Cove, Corona del Mar

What a beautiful day in Newport Beach today. This past week on Broker Preview......a day during the week that realtors view houses on the market.......there were 3 open in China Cove. This is a little hidden area off of Ocean Blvd. There are not many houses by this secluded beach. The price points were very different. The first one I went to was on Cove Street. This home was previously owned by a famous actress. Priced at $4.9 mil.....the lowest priced home I viewed in that area....I thought it was well priced. This home sits practically on the water. I am sure during high tide, the water splashes up on the deck. It is a cute, quaint cottage with amazing views of the channel, harbor and Catalina. The next home I visited was called Dolphin Rock., priced at $10.5 mil. Very interesting house as this house was built in to the rock on the cliff. As you entered the home, large formations of rock can be found throughout the house. Built on 4 lots, this home has grandfathered set backs that these days Corona del Mar would never let you do. There was even a hot tub inside by the rock formations that overlook the channel. Again, amazing views of Catalina, channel and the "wedge". You can't get any closer to the water than this house. The final home I viewed was also on the same street as Dolphin Rock. This home is priced at $7.3 mil and is updated and quite traditional for a home on the water. Again, the home feels like it sits on top of the ocean.

For more information, please contact me and I will send you more pictures of the interior of these homes.

www.PropertiesInTheOC.com

Shady Canyon and Crystal Cove Comparison and Hawaii Pictures

Sorry I have been slacking on my blog lately. It has been a busy summer......a month of company, moving, a trip to Hawaii.......and selling real estate. The market seems to have picked up a bit. I am telling sellers now, if they are not in escrow, they may want to drop the price to get in to escrow soon. Many families are moving around right now and they need to be in a place before school starts. There are going to be some motivated sellers this fall lowering their prices. This will bring down the price per square footage down. You really want to be one of the next sales.....not chasing the market down. I was looking for the best deals in Crystal Cove and Shady Canyon today......I look for the lowest price per square footage. I thought it was very interesting that some of the best deals were in Shady Canyon. The high end, custom homes had some of the best prices per square footage. In Crystal Cove, the attached condos had the best price per square footage. A very important thing to remember, the market will tell you what your house is worth. Since the banks are doing their own appraisals.....they will look for comparisons in the area. So, to price the house way over market value to fish for a buyer.....doesn't work in this market.

For fun I have posted some pictures from my trip to Hawaii. I went to Maui and Oahu. I would say watching the waves on Oahu on the North Shore and the Hula Bar at Kaanapali were my favorites. We did go to the top of the volcano Haleakala to watch the sun come up was fun....though there was a thick cloud so we didn't see much. The trip was planned around the Transpac yacht race from CA to Hawaii. It was an amazing trip.....one I will never forget. Enjoy the pictures. My next blog will be about the new restaurant Sol in Newport Beach.

http://www.covecanyonandcrest.com/

lisa@CoveCanyonandCrest.com

Villa Rockledge in Laguna Beach, $34,900,000

Yes, you read that correctly.....almost $35 million! It has been a couple of crazy months for me. I am hoping to get better about keeping my blog updated. This past week I was fortunate to view Villa Rockledge in South Laguna Beach. I had to see what $35 million would buy. This residence was built in 1922. It has 8000 sq feet, with 12 bedrooms and 11 bathrooms. This home is compound as there are little bungalows that are not connected to the estate. The home is almost like being in a maze. It would have been nice to have a map of the estate. I went down to the private beach and was amazed at the views and privacy this estate has. Rumor has it that the current owner lived in one of the bungalows 30 years ago and then borrowed money from everyone he knew to buy the whole estate. This estate has so much history. The lot was bought in 1887 by Frank Miller. The estate was created as a gift to his wife Marion....hence the original name for the estate "Mariona". This was a destination for many celebrities back in the day. The home is in original restored condition. I should also let you know....there are many steps.....be ready for a work out when visiting this home.

http://www.covecanyonandcrest.com/

www.PropertiesInTheOC.com

Trovare

I have a new listing in the gated community of Trovare, Newport Coast. Trovare is off of Newport Coast and Vista Ridge. It was built in 1994 and has about 170 homes. There are 2 and 3 bedroom condos. The price range is generally between $700-$1 million. The listing I have is the largest of the two bedrooms.....at 1483 sq feet. This is an upper unit that overlooks the Trovare pool. The home has granite countertops in the kitchen and marble flooring in the kitchen and dining room. The owner painted and put new carpet in 2.5 years ago. This home shows like a model. In fact, some have wondered if it was a model home or staged.....it shows well. We are priced at $780K.....which is what I sold the home to the current owner 2.5 years ago. Living in Trovare gives you access to the Newport Coast Clubhouse......over on Park Vista. There is a heated, jr. Olympic size pool there that is staffed......so you don't need to bring your own towels. Also there is a "party room" with an ocean view. I had a party there a couple of years ago....it was great. Down the hill from the clubhouse are the tennis and basketball courts. And within walking distance there is a little strip mall that includes a grocery store, Wells Fargo, a couple of restaurants and stores. When I lived in Trovare I used to eat at Pomodoro a couple of times a week. Inexpensive entrees and wine. I also used to walk down to PCH. This is not an easy walk as the hill going down to PCH is quite steep. Walking back up the hill isn't easy. It is 2.5 miles round trip from Trovare. You feel like walking it is difficult until you see the bike riders crusing up the hill easily.

Lisa

www.CoveCanyonandCrest.com

www.PropertiesInTheOC.com

My 2 Cents

Sorry I don't have any pretty pictures to post on this entry. I have been really busy the last month showing homes. I really feel the market is picking up. I was asked a couple of times today about my thoughts on what will happen with the Newport Beach real estate market. I thought posting it here would be a good idea as many people are wondering the same thing. Not that I can predict the future, but.........I think the best time to buy is right now. There are some homes that have been on the market a long time that need to sell. People in Orange County typically move around every 5-7 years. There are pent up buyers out there waiting. The reason I think now is a good time to buy, is that come summer, families with children will be moving around to be in the school district they want to be in. If you can't buy now, don't buy this summer during the peak season. A better time to buy is going to be this fall. I should also mention that the market under a million dollars is really hot right now. On well priced properties/short sales/foreclosures, it is common to find multiple offers again. BUT, if you want to talk high end......that is a totally different story. Crystal Cove has 54 homes on the market! Shady Canyon has 50 homes on the market! This is the high end area of Newport Beach/Newport Coast. Shady Canyon technically is in Irvine, but it backs up to Newport Coast/Crystal Cove. Shady Canyon is where many professional athletes live. I predict this area is going to be hurting come fall.
Anyway, it will be interesting to see how the market plays out. I think the one thing to remember is, if you really love a house, buy it......stay in it for a while....it will make money. It is hard to find a house you love. I feel like I am giving relationship advice. :) Hope this makes sense. If you are not emotionally attached to a house, make sure it will make money for you in the short term.....2 years. There are great buys out there right now that will make money in a couple of years.....they generally need a little love/attention.

Hope this blog helps and didn't confuse you more. :)

Lisa

www.CoveCanyonandCrest.com
www.PropertiesInTheOC.com