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Newport Beach : Real Estate Advice

  • All180
  • Local Info8
  • Home Buying46
  • Home Selling4
  • Market Conditions12

Activity 67
Mon Feb 4, 2013
Carl & Julie Kistler answered:
Wed Feb 20, 2013
Emily Knell answered:
I'm not sure what you're asking.

Are you wanting to know the average price for a 3,000sqft house? If so, based on recent sales it's about $273 per sqft. Home sales are a large range between $410K-1.28M for between 2700-3400sqft.

OR

A 3,00 square foot lot with a house on it?

There aren't parcels of vacant land in Costa Mesa, you'd need to do a tear down of an existing home, if you're referring to a "residential lot".

Shoot me an email directly if you'd like to talk about this further, I don't look back on this same Trulia thread for answers posted after mine.

Emily S. Knell
EmilyKnell1@yahoo.com
562-430-3053 c
Realtor Since 1996
Realty ONE Group
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0 votes 5 answers Share Flag
Thu Feb 21, 2013
Caroline Gerardo answered:
Mortgage rates have increased .25% to .375% in the past 35 days. Do I think the lowest rates in history are over? No. I believe we will see another dip in late October 2013, with rates in the high 3%- low 4% for conforming products. I would discourage anyone from getting a short term - a 3 or 5 year rate, though it is a bit lower is not a great plan, even if you think you will sell or move in that time frame. Could we be like Japan? - I think this is not that likely either. ... more
0 votes 2 answers Share Flag
Tue Nov 26, 2013
Phil Rotondo answered:
I'm going to take a wild guess and say it has something to do with the price.
0 votes 4 answers Share Flag
Tue Jan 29, 2013
Carol Lee answered:
The reasons people rent now often does not make them candidates to buy. Renters are usually waiting for something...their home elsewhere to sell, saving for the 20% down payment, determining what neighborhood best fits them, a divorce to conclude, etc. ... more
0 votes 3 answers Share Flag
Mon Jan 28, 2013
Cyndi Mino answered:
Hi, Richard. No, this is not the same as a selling price. It is the amount of the loan that deficient. When you see a home as a "pre-foreclosure" with a loan amount, the owner is behind on his payments and the lender has placed this staus on the home. There are many options for the homeowner at this point. If you would like more information on this process, just let me know. I have a lot of experience with short sales and foreclosures - see my designation of SFR. ... more
0 votes 6 answers Share Flag
Thu Jul 9, 2015
Miekeba Jones answered:
Hi Halal, Consult a Realtor in the area. Do you need help finding a Realtor?
0 votes 26 answers Share Flag
Sun Dec 22, 2013
Carol Lee answered:
Hi Sharin,

It's a great time to buy right now. Prices have not jumped up as much as they might as the year progresses, so would not wait too long!

There's a darling home on Cambridge for sale now, and great condos in Granville, in Altezza and near Lido. Some have glorious views!

Call me if you'd like help finding your next home, Sharin!!

With best regards,

Carol Lee
Surterre Properties

949.395.3994
clee@surterreproperties.com

www.newportism.com

CA DRE: 01402855
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0 votes 17 answers Share Flag
Fri Dec 4, 2015
Alain Picard answered:
Mon Jan 7, 2013
Holly Schwartz answered:
Hello Buyer22,
Thanks for asking this question. In the current Southern California Real Estate market there is limited inventory. Cash buyers certainly can have an advantage, especially when a home needs to be completely rehabbed.

The budget that you mentioned is a heathy one and you seem realistic. By being open to areas that are a but inland you will gain more options and see a variety of price points.

I would be happy to suggest homes to you that fit your requirements in terms of condition and return. Please feel free to contact me to discuss the market further, specifically in Orange County.

Sincerely,
Holly Schwartz
714-928-4682
Holly@torellirealty.com
www.TheOCHouseHunter.com
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0 votes 7 answers Share Flag
Wed Jan 2, 2013
Cynthia Fleming answered:
Just saw a similar question, is the higher offer enough to eliminate the need for the short sale?
0 votes 3 answers Share Flag
Wed Jan 2, 2013
Linda Lukas answered:
It is more likely that the bank will make the seller a sweetheart offer to refinance or modify his loan....this is what is happening here in California....you should find a reliable broker in your area and ask this question of him/her....

Here, once an offer goes to the bank, other offers are held as "Back Up offers" and if the initial offer does not succeed, the back up offers are turned to....

Call me with further questions...714-381-1723

Linda
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0 votes 5 answers Share Flag
Fri Dec 14, 2012
Shane Milne answered:
Just the house. This property is what is called a "leasehold", meaning you do not own the land underneath the home, just the house itself. If you read the description you'll see it says "GROUND LEASE $2000/Month first year, $3200/Mo thereafter.", so in addition to the mortgage payment on the home you will also have the ground/land lease payment. There aren't any property taxes though, but you would still be required to obtain a homeowners insurance policy (if you are using a mortgage to purchase it). Sometimes on leasehold properties you can purchase the land separately (there is an area in Huntington Beach where that is possible) or after a certain amount of payments it would convert the property to "fee simple" (where you would then own the land) but I am not sure about this particular area. An expert Newport Beach real estate agent should know, as properties in this area are on the market from time to time.

Financing a leasehold property is possible, but there are quite a few stipulations.

Shane Milne | Lending in all 50 states | NMLS #81195
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0 votes 3 answers Share Flag
Wed Dec 12, 2012
Alex Vargas answered:
Hello Shaunda,

In my opinion you'll have more leverage paying cash. In doing so you'll perhaps get a better price on the estate you wish to purchase.
If you were to finance, you might have to find a portfolio lender to offer any type of Super Jumbo product, also depends on how much you'd be putting down.

If you'd like more information feel free to email/text/call me.

Best,

Alex Vargas
Weichert Realtor
DRE # 01332235

(714) 269-8775 Mobile

www.AlexSellsSoCal.Com

Alexvargas2009@gmail.com
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0 votes 8 answers Share Flag
Sun Dec 16, 2012
Damian Del Rossi answered:
Hi Eric
I would love to help you, and I think you are on the right track with your wish list. How close would you like to be to the ocean? Newport offers a great deal in various areas but I need more specifics. ... more
0 votes 14 answers Share Flag
Thu Nov 15, 2012
Ron Legarski answered:
William:

Please contact my partner Dan Somers at toll free 888.664.8204 and let him know that Ron directed you from the Trulia Q&A. Dan can assist you further.

Thanks,

Ron
0 votes 11 answers Share Flag
Tue Sep 11, 2012
Mina Mullinax answered:
Below is a link to a trip planner for the orange county bus system. Just simply enter your starting place and where you would like to go and it will tell you what bus and what time.


http://justclick.octa.net/Hastinfoweb/TVPOptions.aspx?moniker=Q3JlYXRlVFZQOlRWUE9wdGlvbnM6N2MxYTRjN2EtNmQ0My00MWZhLWIzODQtN2MyZTkyYTU1OWNi

If you have any other questions regarding Laguna Beach or Newport Beach let me know, I specialize in those areas :)

Have a great day
... more
0 votes 5 answers Share Flag
Thu Nov 15, 2012
Estates International answered:
Kyle - more so then Trulia, the definitions are as follows:

Income Property: Real Estate that is not ones primary residence (unless living in one of multiple units within a complex/development that you own), and produces income through rents/usage.

Primary Residence: Criteria for a primary residence consist mostly of guidelines rather than hard rules, and residential status is often determined on a case-by-case basis. A person's primary residence, or main residence is the dwelling where they usually live, typically a house or an apartment. A person can only have one primary residence at any given time (exceptions may apply pending circumstances), but tax code looks at several usage and mail address elements to identify the formal primary status. A primary residence is considered as a legal residence for the purpose of income tax and/or acquiring a mortgage. If one lives within their multi unit income property, there may be restrictions regarding allowable tax, depreciation and expense exemptions, those of which should be addressed with their accountant.

Non-Primary Residence: Real Estate that is not considered via IRS/Tax records as ones regular place of living. Such properties as income, vacation, timeshares for example would most often be considered "non-primary residences" (pending circumstances). The term is set more for the purpose/understanding of identifying what will and what will not receive tax incentives in reflection of your person income tax return, as well as what properties can be subject to maintenance and expense deductions.

We hope this helps Kyle - Jason Liddell
EstatesInternational.co (not .com)
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0 votes 4 answers Share Flag
Wed Aug 27, 2014
Cindy Davis answered:
From what you've shared, it sounds like the seller is out of compliance with your contract. I would think you are entitled to cancel and get your money back...what does your agent say?
0 votes 8 answers Share Flag
Tue Jul 31, 2012
Lori Hanson answered:
The place sounds pretty bad however the only thing that the owner really by law has to address is that it has heat, hot and cold running water and working plumbing. Reality is that rent at the beach is always higher during the summer months because its the beach, also rents are going up faster than you can imagine every where. If you want to continue to live at the beach and are not ready to pay higher rent where you are at because of the condition, you can always start looking around and then give your 30 day notice. Currently there are 11 units available that are 2 or 3 bedrooms priced from $2350 to $10,500 a month. If you would like me to send you some to take a look at, shoot over an email or give me a call and I can help you out. I can also give you my opinion on what your unit should be renting for.

Thanks,

Lori Hanson
OC Homes Realty
714-585-5236 Cell
estatepricing@yahoo.com
DRE 01405146
... more
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