Welcome to beautiful Crystal Cove! This stretch of seaside cliffs is nestled right between Newport Beach and Laguna Beach. With 3.2 miles of sandy beach and 2,400 acres of undeveloped land, Crystal Cove is a perfect area for anyone. The woodlands make for great scenic hiking, mountain biking and horseback riding, while the offshore waters are designated as an “underwater park” for snorklers, scuba divers, surfers and swimmers.
The Crystal Cove Promenade, located on the coast highway, offers a variety of restaurants to satisfy any appetite. Bluefin offers upscale Japanese cuisine and Javier’s Cantina is a hotspot for Mexican food and also provides a full bar. If you’re looking for great food along with some live music, Mastro’s Ocean Club is a first choice.
Along with tasty treats, the Crystal Cove Promenade contains a number of shops. They range from Ann Taylor Loft to Eric Hanan Jewels to Trader Joes to get all your grocery shopping done. Your morning cup of coffee at Starbucks is just a short distance from home.
Golfing is convenient, with many beautiful courses close by. The Resort at Pelican Hill offers 36 holes set over 400 acres of land. Located in Irvine is the Shady Canyon Golf Club, which consists of 18 holes set over 300 acres.
Nautilus homes are located in the Crystal Cove area of Newport Coast, California. Nautilus is home to some of the most expensive and most beautiful real estate in Newport Coast. Nautilus at Crystal Cove offers single-level and two-story floorplans sized from approximately 3,182 to 4,102 square feet. The various plans offer highly desirable areas such as a bonus room, large master retreat, den, library, or tech room.
The first property is located at 4 Surfspray Bluff in Crystal Cove, CA. This is one of the most popular floor plans. It offers 4 bedrooms plus and office room off of the master suite. Throughout the home you will find quarter sawn oak floors and in the kitchen, granite countertops. For guests, there is a separate casita. This home boasts beautiful ocean and sunset views from the oversized backyard. A community center is located in the neighborhood that offers a pool and tennis courts. This home is 3,750 SqFt. and is listed at $3,580,000.
The next home is located at 14 Twilight Bluff. This spectacular 4 bedroom Mediterranean style home is designed around a neutral interior with upgrades throughout. Limestone floors, rich wood custom built-ins and of course incredible ocean and island views. The master suite includes a sitting room and lavish bathroom. On the second floor you will find a spacious bonus room with a built-in media center. Entertaining is perfect with a cozy outdoor fireplace, 3 fountains and a built-in barbeque. This home is 4,000 SqFt. and is listed at $3,695,000.
The thirst property is 28 Dunes Bluff. This contemporary home includes 3 palatial bedrooms with walk in closets and a master suite with its own private balcony and sundeck. This is the home you want to see if you are ready for those breathtaking ocean views. The back patio, living, gourmet kitchen, entryway and master suite are all perfect spots to watch beautiful southern California sunsets. Amenities include honed granite, crown molding, surround sound system and marble bathroom vanities. This home is 3,834 SqFt. and is listed at $3,795,000.
Currently, the average list price on these Nautilus Crystal Cove homes is $3,690,000 and $955.71/SqFt. The average sold price is $3,137,000 and $839.41/SqFt. Average DOM is 196 days.
So what does that mean? Conrad: “The high-end luxury market has is undoubtably sluggish right now. However, we have been seeing many positive signs in the under $2M market, that the above $2M should follow suit shortly. Price per square foot for this market has remained fairly stable for over a year now. So I have no doubt we are currently skimming along the bottom, and should begin a rebound soon.
If you are a buyer, now is an incredible time! Prices are low and stable, and interest rates are extremely low. Now is the time to capitalize on this perfect storm. Many of my clients want to instinctively time the market. I run through a scenario with all of them to demonstrate what a great time today is to buy.
Assume you want to buy a $2M property but believe prices are still going down (which they are not, but just play along with me). You think prices will drop another 10% (barring some drastic blow to our economy, this is highly unlikely). So you think you can buy your $2M house for $1.8M in 6 months.
If purchased today for $2M at current rates of 4.875%, monthly payments including property taxes and PMI would be about $10,417. Total payments over the life of the 30 year loan would be $3,750,239.
Now, today’s rates are something to get excited about. However, they have been kept low artificially in order to help stimulate the economy. Whenever I ask someone “where do you think rates are going in the near future?”, they all say “up”. I agree with them, and so do a lot of people much smarter than I.
So, let’s say you wait 6 months and incredibly, you can purchase that $2M dream home for $1.8M. But, these low rates everyone said wouldn’t last…didn’t. But they didn’t go up that much, only 1%. You put 20% down on a 30 year fixed loan at 5.875% (which still is not bad at all). Your monthly payments with property tax and PMI will be approximately $11,219. You will have paid a total of $4,039,057 over the life of the loan. That is a difference of $288,817!
This is an extreme example, assuming a 10% drop in prices. If you are thinking of buying and think prices are still going down, run the numbers to see for yourself. Just don’t get so focused on price because that is not the issue for you today. It’s payments! And today gives you great payments on low prices!”
So what does that mean to me? Well, the latest rates we received from our mortgage specialist is 4.75% up to $2,000,000 with 20% down. So, with an excellent credit rating, if you purchased a Nautilus home at $3,200,000 with 20% down ($640,000), your monthly payments would be estimated at $3,148 (not including Property Tax and PMI).
For more information on these properties give Conrad Metz a call @ 949.735.9014 to set up a time to discuss how to get your future dream home!
Also, visit our website @ http://www.newportbeachmetzproperties.com and check us out on facebook @ https://www.facebook.com/MetzRealtyGroup