Luxury Homes for Sale in Crystal Cove, Newport Coast Real Estate

When John Laing built this tract of homes, their brochure tag line was

“To live this lifestyle, some go on vacation.  Some merely go home.”

 With three models to choose from and a variety of alternative options, these homes near the top of Crystal Cove are coveted for their luxury, style, & livability.

RESIDENCE ONE

So what does that mean? 

As many people know, when an investor purchases a property there has been a rule that prohibits that individual from selling (flipping) that property for 90 days.  In today’s market, properties can often be rehabilitated in less than 90 days, but the investor had to assume the carrying costs for 3 months before they could put it back on the market.  This is great news for the investors, but also for all buyers…particularly in the entry level, as it could make these homes more affordable.  This could go a long way to help help homebuyers find affordable housing and stabilizing neighborhoods.  

Here are the important facts that you need to know:

• The new purchase price for the home cannot exceed 20% of the aquistition price the investor paid for the home.  If the sale price IS 20% or more of that purchase cost, the lender must: (A) provide supporting documentation to support the improvements and/or a second appraisal and (B) order an inspection of the property and provide it to the buyer.
• It must be an arms-length transaction.  That means there can be no relationship or interest between the seller, buyer, or other parties to the transaction.  (It also means that realtors cannot sell their own listings)
• Waiver takes effect February 1, 2010 for a period of one year unless extended.

To read the specific details, go to:  http://www.hud.gov/offices/hsg/sfh/waivpropflip2010.pdf

If you are interested in investment property or home flipping, feel free to give me a call at 714-552-0274.  I have had my contractor’s license for 15 years and am experienced in finding homes that are great opportunities…whether you are an experienced investor, contractor, or just getting started.

87 Linda Isle, Newport Beach sells for $9,500,000

Currently the MLS shows that there are 11 other homes for sale on Linda Isle ranging from $4,250,000 up to $10,995,000, with an average price per square foot at $1464.  Only one other sale this year at $8,000,000. 

There are 104 homes on the island, and locals know that location plays an important part in the value of these properties…whether the property faces PCH, faces Bayside Drive, is “inside the horseshoe”, etc. 

To learn more about luxury homes for sale in Newport Beach, or other ocean view and bayfront properties contact me via phone 714-552-0274 or email at TerryCrisler@pruoc.com.

I’ve been watching the new construction project on the corner of El Modena & Clay in Newport Heights as it has been undergoing a ground-up transformation for the last nine months.  General contractor Ross Savage with KRS Development was kind enough to give me a tour and fill me in on the particulars.

This brand new luxury home in Newport Beach is approximately 4000 square feet, 4 Bedrooms, 5 Baths and features modern traditional architecture, lots of light, and a terrific floor plan ideally placed on a corner lot.

• Formal living room
• Formal dining room
• 4 Fireplaces
• Amazing gourmet Chef’s dream kitchen with butler’s pantry
• Round breakfast room with two stories of windows
• Spacious family room
• Downstairs laundry / mud room
• Over-sized 3 car garage with storage
• Elegant and spacious Master Suite
• Upstairs “TV” room
• Upstairs laundry room
• Gorgeous reclaimed barn wood floor throughtout most of the home, with brick accents in the floors and fireplaces.

The architect on the project was Ross’s Dad, and the lady of the house is an interior designer and they all worked closely to get the details perfect.  This home is just a few weeks away from completion and it truly is the owner’s Newport Beach Dream Home.

For more information about new luxury homes and remodeled homes in coastal Orange County,  contact Terry Crisler.  To contact the builder of this elegant Newport Beach Dream Home:

Speaking of wine, Quiet Woman has an award-winning wine list, with a large selection of fine wines by the glass that you aren’t going to see on every other wine list in town.  The prices are reasonable, and Lynne has the forethought to age some of her best wines so that they are sold when they are showing their best characteristics.  If you want to experiment with new varietals or just expand your wine repertoire, the QW’s staff are knowledgeable and give great advice.

The Quiet Woman is located at 3224 E. Coast Hwy, Corona del Mar, adjacent to Newport Beach.  For more information call (949) 640-7440 or visit www.quietwoman.com.

Cheers!

Gorgeous remodeled home in Corona del Mar village!

 Check out the video of this corona del Mar property for sale…….

This turnkey home features an open floorplan, slate floors and built-in storage throughout the first level. The gourmet kitchen has stainless steel appliances, granite counters and custom cabinetry to satisfy the most discriminating chef. The Master bedroom with balcony overlooks the beautifully landscaped front patio with flowers, boxwood hedges and a bubbling fountain…perfect for entertaining!

• 3 Bedroom
• 3 Bath
• Estimated 1800 square feet
• Parking for 2 cars – single car garage plus tandem carport
• No HOA’s

If you are not familiar with Corona del Mar village, this is a front unit condo.  More than half of the area that makes up the village are single front unit/back unit condos. ( There are only a few of the larger multi-unit condo complexes in our community.)  many of the older front & back unit condos are duplex conversions, although most of those built since the 1980’s and newer were actually built as condos with seperate utilities.  Although there are CCR’s on these kind of properties, there is usually no HOA monthly fees involved and the owners of the two units decide when the property needs work.

Come enjoy the coastal lifestyle on the California Riviera. Walk to nearby Corona del Mar beach, fine dining, and upscale boutiques.

Back Unit Now Listed For Sale Also

Spacious back unit condo with soaring cathedral ceilings, fireplace, balcony and patio.  Each of the 3 bedrooms has it’s own full bath.  One bedroom downstairs has it’s own patio.  Priced below the latest comps, this property is in great shape and a terrific deal in the heart of Corona del Mar Village.

• 3 Bedrooms
• 3 Bathrooms
• 1380 square feet estimated
• 2 car parking – single car garage plus tandem carport
• No HOA’s

There’s no question that a fabulous kitchen will help sell a property in record time. It’s something that every buyer admires even if they don’t cook! It’s not something most sellers think of but it’s really a great question for your Real Estate professional. The reason is that your agent can you understand where your home fits in the current market compared to comps in your neighborhood. This information can allow you to decide between a light remodel or one to make your family and friends drool on sight!

620 Larkspur, Corona del Mar

620 Larkspur, Corona del Mar

Saturday, April 18th

1 to 5 pm

• Brand New Construction
• 3 Bedroom Townhome
• Large 45′ Corner Lot
• 2 Car Garage with Direct Access
• Air Conditioning, Central Vacuum, Security System, & CAT 5 Low Voltage Wiring Throughout
• Custom Cabinetry, Slab Stone Countertops, Professional Grade Stainless Steel Appliances, Walk-In Pantry, Kohler Plumbing Fixtures and Designer Lighting
• Large Master Suite Features Custom Stone Surround Fireplace and Balcony

Make sure you also visit the “sister property” next door at 3201 Fourth St., also newly built by Nicholson Construction and having it’s inaugural open house too.

For more information about this elegant home, or for information on other homes for sale in Corona del Mar, please email me at terrycrisler@pruoc.com or call me directly at (714) 552-0274.

Just take Fountain Valley as an example.  The city has had a difficult time with housing prices.  There are currently 88 homes on the market, and almost 50% are short sales, forclosures or bank owned.  Ok, that’s the bad news…but here’s the good.  There are 64 homes in backup offers or pending sale, and 72 people have bought a home in Fountain Valley since January of this year.

That means:

• buyers are recognising a good deal when they see one
• Well priced, well kept homes are selling
• families that probably didn’t think they could afford to be homeowners are qualifying for loans
• Banks are approving loans and lending money
• interest rates are at a 50 year low
• And last but not least, homeowners who need to move on with their lives finally can!