Home Buying in 92657>Question Details

Mr. Blue, Home Buyer in Laguna Beach, CA

What's happening with Crystal Cove and Corona Del Mar home Values?

Asked by Mr. Blue, Laguna Beach, CA Thu Aug 20, 2009

As shown in http://www.bluemove.blogspot.com, Crystal Cove home values look like they are contining their downward plunge. Any agents have opinions about this?

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Answers

6
Hello Mr. Blue,

Newport Coast has sustained downward pressure on home sold prices, just like other areas of Orange County and Southern California. People who own expensive homes are not immune from economic pressures. On the other hand, most of the owners at Crystal Cove are people with significant income and wealth, and they are not forced to sell when markets slide. We don't expect much hysterical home selling to take place at Newport Coast.

I recall from some of your other questions that you are not a homebuyer or seller. However, if you are interested to be a homebuyer at Crystal Cove and Newport Coast, contact a qualified and experienced REALTOR to help you with that.

Harrison K. Long, Explore Group, Coldwell Banker Previews.
ExploreProperties@gmail.com
2 votes Thank Flag Link Fri Nov 13, 2009
Just some food for thought...you can look up recent sales.. and make a determination, but keep in mind every seller has their individual motivation to sell, if Mr.& Mrs. Seller own their home out right & want out of the state for example, taking a 100,000.00 under the market hit. will this affect the other homes selling in the area? Of course it will, but being a standard sale, again each case has it's own story in this particular area, so if your buyers agent has relationships, they will find these deals for you, especially if you are a cash buyer, letting the above example close escrow in 15 days or less.
1 vote Thank Flag Link Sat Sep 26, 2009
Update July 2013, CDM prices have followed the recent trend upward and even surpassed it in some cases. Since January the average price increase as been an incredible 24% to 30%! Most notably has been the surge in R2 zoned properties in anticipation of tear down and building condos for huge investor/developer returns in this low interest rate, high demand environment.
The early July interest rate spike, though apparently short lived, has had an impact mildly slowing some sales but by the third week in July activity is as brisk has been in recent months and probably will continue through the fall at least.
Please check back with me for future updates, thanks.
0 votes Thank Flag Link Fri Jul 19, 2013
This question was posted August, 2009, and the poster always seems to be around Orange County.

My recent blog post was about Corona del Mar real estate and home seller price nostalgia March 2011 @ http://livecoronadelmar.com/2011/03/07/corona-del-mar-real-e…

Harrison K. Long, Realtor and broker associate, Coldwell Banker NRT, South Orange County, CA
0 votes Thank Flag Link Tue Mar 8, 2011
Real estate in Crystal Cove has held up better than most communities in Orange County. The current inventory of homes for sale and for lease in Crystal Cove is below the historic average and while prices have decreased in the past year, they definitely have not cratered. In fact, most of the residents who purchased their homes new in Crystal Cove are still sitting on very generous profits.

A good website to check out is http://www.CrystalCove.com. They post the current inventory of homes for sale and for lease in Crystal Cove, and they also have 2010 sales data for closed transactions.
Web Reference: http://www.crystalcove.com
0 votes Thank Flag Link Tue Mar 8, 2011
Crystal Cove and Corona del Mar home prices are following the real estate trend of adjustments, downward.
0 votes Thank Flag Link Mon Dec 21, 2009
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