Dub's World

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 looking for the best of both worlds… spectacular architecture with a magnificent outdoor setting. 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.

So how’s this market really? Let’s ask Conrad….

 “The White Sails area is a fantastic Santa Barbara inspired community of Crystal Cove.  Built by Taylor Woodrow around 2004, these homes start around $3.3M.  As such, demand at this time is quite weak in this market.  Since the first of the year, 21 homes in the $3-$5M range have sold in Newport Coast.  Of those 21, 7 have been in Crystal Cove.

The following homes are located in the White Sails Tract of Crystal Cove. White Sails homes have great detail, open floor plans and boast breathtaking ocean and island views. 

The first property is located at 2 Cruisers Bluff. This 4 bedroom, 5 bath Spanish style home is located on an expansive corner lot. The master bedroom and oversized balcony are a perfect spot to catch the sunset and enjoy views of the Pacific. Amenities include granite kitchen countertops, beamed ceilings and fireplace in the living room, and beautiful French doors opening to a spacious backyard. It is a 4,950 SqFt. short sale listed at $3,300,000.

The second property is located at 32 Gondoliers Bluff. It is a 5 bedroom, 6 bath Mediterranean style home. With a beautiful, lush courtyard entrance, this estate is highly upgraded throughout. Amenities include, a gourmet kitchen, hardwood floors, library, and upstairs bonus room. It is SqFt. and is listed at $4,450,000.

So what does that mean to me? If you purchase an Irvine Cove home at $4,000,000 with 20% down, an interest rate of 5.25% fixed for 30 years, with property tax 1.25% and a PMI of 0.5% and have an excellent credit rating here is what your estimate would look like:

Monthly Payments: $21,837.19

Totally Payments of $7,861,386.65

Total Interest Paid: $3,161,386.65

Total Tax Paid: $1,500,000

*This communication is for information purposes only.  Prudential California Realty is not a mortgage broker or lender.  You should not rely on mortgage rate or product information contained in this communication but should instead contact your lender directly to learn about currently available mortgage rates or products.

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

Come take a look at 3 beautiful homes in the Oceana tract in Crystal Cove, CA. These following listings are located in a very luxurious area of Newport Coast.

 The first property is located at 80 Archipelago. Relish in breathtaking coastal and island views from this 4 bedroom, 5 bath Santa Barbara style home. It features a covered porch, built-in BBQ, a court yard fireplace, bonus room, 3 car garage, as well as a central audio system. The current list price is $3,795,000 and is 3,940 SqFt.

 

The second property is a 5 bedroom, 5 bath home located at 36 Archipelago. This estate is Santa Barbara inspired with a splash of 1920’s Hollywood. Features include grand rooms, outside grounds with a fireplace, a pool and spa, and a built-in BBQ. Also included is a large kitchen opening to the family room, a large upstairs bonus room with a deck and a detached guest casita. It is a private lot, elevated for perfect ocean and sunset views. Currently, the list price is $4,680,000 and is 4,270 SqFt.

 

The third property is down the street at 16 Rockshore Bluff. Known as “Casa De Rosselet”, this home will truly take your breath away. This estate has Spanish villa details and architecture reminiscent of George Washington Smith. Features include antique lighting, floors made from handmade Spanish terra cotta and hardwood and incredible custom floor to ceiling glass doors revealing ocean views. It also includes a marble shower and many modern amenities such as a gourmet kitchen with granite countertops. It is has 3 bedrooms and 4 baths and is listed at $4,495,000.

Currently, the average list price on these Oceana Crystal Cove homes is $4,323,333 and $1,012.49/SqFt. The average sold price is $3,895,000 and $1,015.12/SqFt. Average DOM is 151 days.

So what does that mean? Let’s hear from 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? At the most recent rate quotes, you can receive a jumbo 30 year fixed loan up to $2,000,000 at 4.875%. So, if you purchase an Oceana home at $3,895,000 with 20% down ($779,000), your monthly payments would be estimated at $16,000.   

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

Greetings from spectacular Seabourn in Crystal Cove!

 There are currently 50 active properties in one of the finest coastal-gated communities Southern California has to offer. As you head up from the beach and across Pacific Coast Highway you will find yourself in the beautiful community of Crystal Cove. Just minutes from the Crystal Cove Promenade, these homes are convenient yet cozy and private.

The first property is located at 11 Secret Cove. This 2 level, 3 bedroom, 3 bath home is a must-see. Hand-painted ebony matte finished walnut flooring to custom bamboo window coverings. And you can’t miss the stainless steel Viking and Sub-Zero appliances. Other highlights include a serene outdoor patio with a beautiful fireplace, an upstairs bonus room and a master bedroom balcony. It is 2,815 SqFt. and is listed at $1,875,000.

The second property is located at 52 Sidney Bay Drive. This 5 bedroom, 5 bath home is the perfect California home, offering the quintessential “SoCal” lifestyle. The stone courtyard and gardens effortlessly integrate with the casual interiors of the home. Handmade Spanish terra cotta and stone floors give it that upscale rustic feel. Upon entering the front gate you will find yourself in a private courtyard decorated with a breathtaking stone patio and fountain. It is 3,300 SqFt. and is listed at $2,595,000. 

The third property is down the street at 2 Secret Cove. This Mediterranean style 3 bedroom, 3 bath home is situated in a private, elevated coroner lot. This allows for perfect views of the ocean and stunning sunsets. This home is equipped with a wood paneled office, a library, and an elevator! It also features a beautiful outdoor pool and spa, a built-in BBQ and a wine cellar. It is listed at $3,195,000.

Currently, the average list price on these Seabourn Crystal Cove homes is $2,555,000 and $835.51/SqFt. The average sold price is $2,350,000 and $703.59/SqFt. Average DOM is 42 days.

So what does that mean? Here is what our expert Conrad Metz has to say:

“High-end luxury real estate is a lagging market.  There is no doubt that the market above $2 Million has been sluggish for some time now.  However, this market has stabilized and there are positive signs that a turnaround is close at hand.
Just as we saw the distressed property market start with lower end properties and move its way up to the high-end, recovery is trending the same way.  Here in the Newport Beach area, prices below $1.5 Million have been stable for about a year now, and in some areas prices are starting to increase. 
If we take a look at price per square foot for Newport Coast (92657) in the price range under $1.8M, prices have been stable for a year now. (*see graph).  

Of 27 properties active in the Newport Ridge area of Newport Coast, 13 have price increases.  Of course this is only a change in what sellers are asking for their properties.  This market shift has happened too recently to see if buyers are willing to pay the higher price.
What I am seeing is the $2M to $2.5M market finally stabilizing, and on a price per square foot basis has actually increased a small amount since the beginning of May. (*see graph)


Some of the ultra high-end properties ($5M plus) that attempted to sell two years ago are coming back on the market.  These are positive signs that the Newport Coast real estate market has stabilized and may be on the cusp of a turnaround.
Assuming we remain on this trend, with no major economic disruptions, I expect to continue to see positive market data.  What we read in the newspapers and see on national television is not what we see in the hyper-local market of Newport Coast.”

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 Seabourn home at $1,875,000 with 20% down ($375,000), your monthly payments would be estimated at $7,824 (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

Open House!

30 Sea Terrace; Newport Ridge Estates of Newport Coast!

 This 4 bedroom, 3 bath, 3,180 Sq/Ft home is located in beautiful Newport Coast. With cathedral-vaulted ceilings and a dual staircase, this 2-story home is one you don’t want to miss. The kitchen is equipped with a double oven, a gas grill, an island, and granite countertops and opens right into the family room. There is a big backyard with a jacuzzi and ample grass area. The home comes with a 3-car garage, and also has a large bonus room that could be used as an office or entertainment room for the kids. The master bedroom has an attached balcony and walk-in closet.

This spectacular home is listed at $1,625,000, with a seller contribution of $25,000. There are currently 4 active properties in the Newport Ridge Estates. The average price per Sq/Ft is $526.48 and the average list price is $1,759,500.

With 20% down on a $1,625,000 home with good credit, the monthly payments would be estimated at $6,781 (not including Property Tax and PMI).

Interested in taking a look? Conrad Metz will be hosting an open house this Saturday June 11 and Sunday June 12, from 1pm to 4pm. 

Stop by and say Hi, check out this amazing property and get any questions you may have answered!

 

Conrad Metz: 949.735.9014

Email: conradmetz@gmail.com

Website: www.NewportBeachMetzProperties.com

FB: www.facebook.com/MetzRealtyGroup

Twitter: www.twitter.com/conradmetz

For Market Reports of Newport Beach’s 7 major zip codes, click here: http://newportbeachmetzproperties.com/hows-the-market.cfm