Stacy’s Newport Beach & Real Estate

Newport Beach, Corona Del Mar & Coastal OC Real Estate

Archive for corona del mar

Huntington Beach 4 Bedroom Pool Home For Sale

This is a very nice 4 bedroom + 2 bathroom, one level Home For Sale in Huntington Beach.

It’s located a short distance north of Huntington Central Park, the main Huntington Beach Library, the Huntington Beach Equestrian Center, and a short drive to the beach.

This home is ideally positioned on a desirable interior cul de sac street, and it’s in move-in ready condition.

Listed at $585,000.

Buying Costs Are High in Monaco, or…So You Thought Buying Costs Were High in The OC?

How difficult is the property purchase process in Monaco [France]?

Monaco ’s prime residential real estate market is in Monte Carlo, which is famous for its Place Du Casino. The most prestigious area is the Carre D’Or” (Square of Gold) around the Place Du Casino. Prices drop by between ten and fifteen percent as one heads east or west of this point. Fontveille, an economical and industrial district, has a supplementary discount due to its less noble access, although the fact that the environment is constantly evolving assures a similar evolution in perceived values .

Much of the available property in Monaco and Monte Carlo is apartments, from small studios to large luxury triplexes and penthouses. Those overlooking the harbor and Formula 1 circuit are naturally more expensive. There is also a selection of luxury villas and beautiful townhouses and these are even more valuable .

Acquiring property in Monaco is quite straightforward. There are no restrictions on foreigners. You will need the services of a public notary to ensure that the terms of agreement are accurate and conform to the law.

The purchase usually takes place in two stages :

  1. Signing the contract; and
  2. Executing the transfer deed before the notary.

On signature of the contract, the buyer is generally asked to pay a deposit of 10% of the price, which may be held by the notary or the estate agent.

The purchaser of real estate may be asked to sign an offer or a pre-contract. This is common practice particularly in a buoyant real estate market. There is no consumer credit or “cooling off” principle which entitles you to reconsider a hasty purchase and recover your deposit.

Footnotes to Transaction Costs Table

The round trip transaction costs include all costs of buying and then re-selling a property – lawyers’ fees, notaries’ fees, registration fees, taxes, agents’ fees, etc.

Registration fee:
Registration fees are imposed at 7.5% (6.5% for registration and 1% for entry) of selling price or market value, whichever is higher.

VAT:
For properties that are either new or under construction, registration fee is 20.6% VAT plus 1% entry.

Notary fees:
Notary fees plus supplementary expenses such as copies and stamps range from 1.5% to 2.5%.

Estate agent’s commission:
Real estate agent’s commission is paid by both parties, 5% (plus 20.6% VAT) for the seller and 3% (plus 20.6% VAT) for the buyer.

Newport Beach, Corona Del Mar & Newport Coast REAL ESTATE MARKET NEWS for mid-March, 2010.

The median list price in NEWPORT BEACH, CA 92660 this week is $1,682,500.  Average Price-per-Sq.Ft  is $542.  Average DOM (Days on Market) is 245. Demand measured by the Market Action Index is increasing and days-on-market is trending downward. Even as more properties come available, these are positive trends for the market.

The median list price in NEWPORT BEACH, CA 92663 this week is $1,975,500.  Average Price-per-Sq.Ft  is $783.  Average DOM (Days on Market) is 262. Demand measured by the Market Action Index is increasing and days-on-market is trending downward.

The median list price in CORONA DEL MAR, CA 92625 this week is $2,500,000.  Average Price-per-Sq.Ft  is $901.  Average DOM (Days on Market) is 269.  Inventory and days-on-market are climbing, while the Market Action Index has been flat recently. The trends point to a
weakening market.

The median list price in NEWPORT COAST, CA 92657 this week is $3,037,000.  Average Price-per-Sq.Ft  is $739.  Average DOM (Days on Market) is 301.  Inventory is tightening and days-on-market is falling. The Market Action Index shows demand heating up. These are relatively bullish signs for prices.

First Time Home Buyer Tax Credit 2010

Frequently Asked Questions About the First-Time Home Buyer Tax Credit

The Worker, Homeownership, and Business Assistance Act of 2009 has extended the tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence. The tax credit now applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010.   However, in cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify.

For sales occurring after November 6, 2009, the Act establishes income limits of $125,000 for single taxpayers and $225,000 for married couples filing joint returns.

The income limits for sales occurring on or after January 1, 2009 and on or before November 6, 2009, are $75,000 for single taxpayers and $150,000 for married taxpayers filing joint returns.

The following questions and answers provide basic information about the tax credit. If you have more specific questions, we strongly encourage you to consult a qualified tax advisor or legal professional about your unique situation.

For the rest of the story, click on http://www.federalhousingtaxcredit.com/faq1.php

Newport Beach & Orange County, CA Traditional Real Estate Market Trends-March 2010

*The sellers of a 1,600 square-foot, 2-bedroom, 2-bath condominium want to move up. They have $200,000 in equity and an outstanding loan amount of $200,000 at 6%. The move-up seller’s monthly payment is $1935.77 including principal and interest, $1,199 .10; property tax, $366.67; and homeowners fee, $370.

For only a few hundred dollars more a month, these move-up sellers can purchase a newer 2,200-square-foot, 4-bedroom, 3-bath home for $550,000.have been lost in a little over two years.

Here’s how… (To read the full and current post of Orange County market trends of attached and detached homes with numerous CHARTS,  click on the following link.)

http://bit.ly/OCTraditionalMarketReport-March2010

Corona Del Mar/ Newport Beach City Officials Discuss City Goals 2010

January 2010 :  For 4-hours, city staff & elected officials & members of the public discussed what Newport Beach should set as goals for 2010 — including how to make sure future sea level changes don’t harm properties, how to reduce fire hazards in Lower Buck Gully, cleaning up Mariners Mile and keeping the city fiscally healthy.  Also discussed were how beach crews could help street crews in winter months; street crews could work on beach services in busy summer months; & how residents have come to expect fast service when it comes to things like cleaning glass in a roadway, or rescuing ducklings from a storm drain.

Recreation and Senior Services Director Laura Detweiler said the Oasis Senior Center, which is being rebuilt and will reopen later this year, could bring in revenue both from the fitness center and from private parties in the banquet room.

A handout, sort of a city report card for the year’s first quarter with interesting factoids: Police averaged 2.3 minutes to respond to top-priority calls, spending $5,925.96 per Part 1 crimes cleared; Beach maintenance costs $1,544 per acres; it costs $7.83 per reference question in relation to the library’s reference staffing costs; 99 percent of senior transportation clients were taken to their destinations within 5 minutes of scheduled time;  & 85% of streetlights were repaired within seven days of notice.

CORONA DEL MAR PROPERTIES – January 2008

CORONA DEL MAR PROPERTIES – JANUARY 2009

Prices are adjusting and there are great opportunities to scoop up some wonderful CDM properties especially with many prices below a million. Take a look at properties with some recent price adjustments:

1) Corona Del Mar north of PCH – 605.8 Jasmine Ave./ 2BR + 2BA/ newer 2008 construction with Great Room concept + wood floors + granite counters + garage/ short walk to beach/ listed at $995,000 6085-jasmine-mbr-1

2) Corona Del Mar north of PCH – 409 Poinsettia Ave./ 3BR + 2BA/ remodeled/ single-level residence/ owner will consider a trade/ listed at $995,000

3) Corona Del Mar south of PCH – 704.5 Acacia Ave./ 2BR + 2BA/ built 2004/ peek ocean view/ two levels/ loft-office on upper level/ rear unit/ listed at $998,000

4) Corona Del Mar DUPLEX south of PCH – 426 Dahlia Ave./ front single-level cottage house with 2BR + 2BA + den + 2 patios + one-car garage/ rear studio unit above garage + sun deck + carport/ R2 lot/ listed at $1,595,000

For additional information, please email Stacy McCullough, Realtor, EcoBroker, CRS,CIPS,PHN at Stacy@coastaloclink.com,  or call our office at 949.219.2431.