Tagged : newport beach real estate

Newport Beach is one of the most expensive places to live in Southern California and we always have clients looking for distressed properties as a way to get into the real estate market.  Bankruptcy sales are different than bank owned or short sales as the latter has occurred after the bank has foreclosed on the home and the owner is no longer living in the home.  Short Sales differ as the owners are typically still living in the home and are selling the property and asking the bank to forgive the difference between what they owe to the bank and the offering price of the home.  A Bankruptcy sale occurs when the owner is liquidating their assets in order to be in compliance with the bankruptcy rules and regulations.  There is a certain process in order to

The Newport Beach market has seen a big increase in activity and real estate prices with homes selling at record speed with many homes selling over asking price.  The reason why we are seeing this activity is a combination of low interest rates combined with low inventory of homes causing many buyers to bid against each other on the same property.  Since the inventory of homes is so low it's the perfect time for home builders who are building homes in order to sell when they are finished.  We have seen a flurry of activity of new homes being built with many brand new listings coming on the market in various areas throughout Newport Beach.  The cost to build a home has also gone up in the last year as lumber prices among other building materials has gone

We recently had a client call into our office looking for a furnished rental property for under $5,000 a month.  They wanted something short term where they could enjoy living by the beach without all of the hassle of buying furniture and doing a traditional 12 month lease.  We explained that the real estate market right now has very low inventory of homes on the market which is true if you are thinking about buying or renting a home.  There are still some really great options out there right now and the key is to act quickly as new listings come on the market.  

A great example of furnished rentals new to the market are the two rentals located at 112 31st street.  This is part of a duplex property where both units are available for a short term lease.

One of the more popular places to look for a rental property in the Newport Beach area is small condo complex commonly known as "Newport Crest."  If you are looking for a nice rental property in Newport Beach there is a section of residential condo buildings near Hong Hospital that offers some of the best long term rentals.  In a small radius there are condo buildings like Villa Balboa, Versailles and Newport Crest among others.  Newport Crest is probably the best choice if you are looking for a townhome since it offers some really well thougtout three and four bedroom floor plans.  These are located on multiple levels with the living room, dining and kitchen typically located on the downstairs level with bedrooms located upstairs.  These typically come

If you are in the market for a very affordable rental property in Newport Beach that has been newly renovated then make sure to check out the units available at 305 1/2 Main Street in Newport Beach.  Currently there are 7 rental properties on the market that start from $1,700 for a studio rental with 218 square feet, $1,700 for a one bedroom with 196 square feet, $1,750 for a one bedroom with 259 square feet, $1,850 for a one bedroom with 260 square feet, $2,100 for a one bedroom with 327 square feet, $2,800 for a one bedroom with 402 square feet and $2,900 for a one bedroom unit with 508 square feet.  The location couldn't be more perfect and located in the very popular Balboa Peninsula area of Newport Beach that has a very short walking distance to both

One of the most popular communities in Newport Beach is the Port Streets neighborhood.  This is a very family oriented neighborhood of one and two story homes to choose from.  Many homes in this neighborhood have been remolded extensively and the one of the most popular styles are the Cape Cod architectural properties that can be seen throughout this community.  While buying a home here can be very expensive the more affordable option can be to rent a home here.  If you are watching the current episode of the Real Housewives of Orange County then you know several of the housewives are renting a home in this neighborhood.  

Rental prices have a very wide range but are typically found in the $5,000 to $12,000 a month range depending on the size, location

Buying a home near the Pelican Hill Resort of Newport Coast is among some of the most expensive homes you will find in coastal Orange County, California.  These are very large scale homes located in 24 hour gated communities with plush Mediterranean style homes that often overlook the sea.  There are many owners that prefer to custom build there own parcel of land which is very common in the neighboring Crystal Cove area of Newport Coast with more vacant lots available there.  However, there are still a few select lots that are still on the market for sale that can be found in neighborhoods like Pelican Crest where homes start at just under $7.5 million dollars for a 5 five bedroom home with over 6,800 square feet of living space.  The average price of

One of the more popular places in Newport Beach to find rental properties is on Balboa Island.  If you have ever visited Newport Beach then you know Balboa Island is one of the top tourist destinations filled with charming houses and quaint retail stores.  If you have every wanted to live here and thinking about renting a home here then there are some key things to understand before you start your search.  First, there is a mixture of rentals located here from weekly rentals to long term rentals of 12 months or more.  For the most part, at any given time I would estimate about half of these rental listings will be for a long term lease.  The other half would be for those weekly rentals, monthly rentals and those with negotiable lease terms.  Second, real

Newport Beach is one of the most expensive beach towns in Orange County and finding a new construction home can run several million dollars if you want to live near the beach.  One of the most affordable options for newer construction homes is the Ebb Tide community.  The location is situated on the border of Costa Mesa & Newport Beach which allows for a much lower price point then if you were located near the water.  The homes were built starting in 2017 which feature 3 to 4 bedroom homes with the largest homes over 2,200 sure feet. What I like about these homes is the modern Contemporary design that are located on multi-levels.  The ground level is where you will find the garage, main living spaces on the mid level and bedrooms located on the upper

Bay Island is one of the premier islands in Newport Beach is the Bay Island community.  Real Estate prices currently start at $5 million and have sold for more than 10 million dollars in recent years.  The island is set up differently that other neighborhoods in Newport Beach which makes it problematic in case you need to get a loan. A real estate agent that has a listing on Bay Island sent me these quotes that help understand the situation here.  It reads "Unlike the financing of the purchase of real property where a lender records a deed of trust against the property as security for the loan, only the stock certificate may be used as collateral.  To protect the Corporation's interests, as well as the lenders, an agreement between the shareholders,