Tagged : versailles newport beach

We work with a lot of first time home buyers who are always trying to figure out the best places to live in Newport Beach. Real Estate prices in  Newport Beach have gone up so much in the last several years that it's been really hard for those buying a home for the first time.  We still have seen some really good investments that have come on the market this year so it's still not impossible to find a good starter home.  There are some of the places we recommend looking when first starting to think about buying a home.  We always recommend starting with what your budget will allow and then work your way up.  If that means starting with a smaller condo then that typically is the best way to go.

One of the best places we love in the Newport Beach area

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Doing a 1031 exchange can be very stressful due to the time constraints you have to locate and close on a property.  The times frames are basically 45 days to identify up to 3 properties and then to close on one of those with 180 days after closing escrow on the previous property.  I have gone through this process several times and it can be really crazy during those 45 days in trying to locate the perfect exchange property.  There are several homes throughout the Newport Beach area that are being marketed by the owners real estate agents as potential 1031 exchange properties.  Of course, a real estate agent can say a property is a good investment but ultimately it's up to the buyer to determine this.

One of the properties noted is located in the

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We get requests from clients who are looking to buy a condo in the Newport Beach area and that are looking for a unit that has a private elevator.  For the most part, these are hard to find since most of the condo buildings in Newport Beach have community elevators for everyone to use.  Only a few select buildings offer private elevators that go directly up to the individual unit.  If you know where to look and have the money to spend then we recommend the following buildings.

First, if price is no object then the condos at the Meridian are a must see.  The condos were built there approximately four years ago and has one of the best locations in Newport Beach situated between the Fashion Island shopping center and the Newport Beach country club golf

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We get a lot of rental calls for the Versailles complex in Newport Beach due to it's prime location and low rental rates.  The Versailles complex is approximately 47 years old and built in the early 1970's.  The units are pretty good size considering their age with one bedrooms around the high 400 to mid 700 square feet and two bedrooms in the 1,100 to 1,300 square foot rage.  The complex offers a wide range of amenities with a pool, spa, sauna and fitness center.  There is even a full kitchen available for bigger events.  People love living here due to the short distance to the beach which is within walking distance.

Rental rates as of May 2018 currently start at $1,900 a month for a one bedroom, one bath condo with 721 square feet.  Two bedroom

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There are several condo communities that are located within walking distance to Hoag Hospital in Newport Beach that consist of Newport Crest, Villa Balboa and Seawind condos.  In addition to these neighborhoods is the only gated condo community that is located adjacent to Hoag Hospital is the gated community of Versailles.  The Versailles is an iconic complex in Newport Heights that dates back to 1971 when the home builder developed this condo community.

 The architecture is very distinctive in the Neo-classical style with three smaller three story building and the main building that is built in a "u" shape with a large central water fountain in the middle.  Versailles is very popular to many condo buyers since real estate prices are very competitive

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The Newport Beach Real Estate market is definitely picking up as recent reports in the OC Register indicate a spike in the number of buyers making offers on property.  A perfect example of this is an ocean view condo in the Newport Heights area that I was showing over the weekend.  The condo was located in the Versailles gated community, which is located just a couple blocks to the pacific ocean and the sandy beach.  The condo was located on the penthouse level with two large bedrooms and great ocean views from the living room and master bedroom.  Being bank owned and priced very low at $275,000, the condo accepted an offer with only being on the market for 8 short days.  If you are in the market to buy property in Newport Beach keep in mind other buyers

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Finding foreclosures in today's Newport Beach Real Estate market is harder than you think.  With the latest trend of home owners selling their homes as short sales instead of letting their home going into foreclosure has significantly dried up the foreclosure market.  That doesn't mean that you will no longer see foreclosure and bank owned properties on the market anymore.  What it does mean is that these foreclosed listings will come on the market at a slower pace and typically sell in rather quick amount of time due to it's scarcity if priced correctly.  If you are looking to invest in a Newport Beach condo under $350,000 then you should consider this new foreclosure listing that just came on the market for $314,000.  The condo is located in the…