Orange County CA Real Estate

Oceanfront- Waterfront - Bayfront Homes for Sale in Newport Beach, CA

Vincent Bindi — Tue, 24 Jun 2008 13:16:23 -0700

There are currently 37 Oceanfront and Bayfront detached homes for sale, and 7 Oceanfront/Bayfront Condos for sale in Newport Beach, CA.   The lowest price detached home is a bay front property on Finley Ave currently listed for $1.575 Million (subject to change) and incorporates 2 bedrooms, 1 bath, and 1,030 square feet of living area, with a dock for 2 boats. The highest priced property is currently for sale $38,500,000, and this French neoclassic Bayfront estate located on Harbor Island Dr incorporates 10 bedrooms, 12 baths, 18,000 square feet of living area on a 1/2 Acre lot. The Median price waterfront home is $5 Million and the Average price water front home is $6.47 Million. The average price per square foot is $1,752/SqFt, although this indicator is of little use for the Land price is a large percentage of the value of the typical property.

Currently there are 2 waterfront properties under contract in Escrow in Newport Beach, Ca. One estate is located on Lido Island on Via Lido Nord. This bay front property consists of 3 bedroom, 2 baths, and includes a private dock, and the asking price was $4,299,000.   The other estate is located on Balboa Peninsula on Oceanfront Ave. This Ocean Front property incorporates 5 bedroom, 5.5 baths, 4,000 square feet of living area and a private roof top deck with sweeping ocean views. The asking price of the property was $11,575,000.

In the past 90 days, there have been 3 bayfront/oceanfront properties that have sold and closed escrow. Based upon the number of homes Pending in escrow, and 3 homes sold and the current inventory of 37 homes, the Months of Inventory is running at about 30 months for Newport Beach water front property currently.   The basic details on the 3 waterfront properties that sold along with the sales prices are listed below:

Lido Island - Via Lido Soud - 5 Bdrm, 3 Bath, 2,580 SqFt, Bayfront with dock - $3.9Mil
Balboa Pen - Bay Ave. - 5 Bdrm, 3 Bath, 2,358 SqFt, Bayfront with dock - $4.9Mil
West Newport - Oceanfront Ave - 5 Bdrm, 5.5 Bath, 2,744 SqFt, Oceanfront - $6.2Mil

Of the 7 bay front and ocean front condos currently listed for sale in Newport Beach, Ca., the lowest priced property is $1,095,000 for a 1 bedroom, 2 bath, 1,200 square foot condo on Lido Park Dr. in the Cannery Village high-rise. The highest price condominium is a beachfront 3 bedroom, 3 bath, 2,000 square foot with sweeping panoramic views of the beach and pacific ocean. The current asking price is $2,695,000 and is located on Balboa Peninsula on Balboa Blvd. The Average priced waterfront condo currently for sale is $2.05 Million, and the Average Price per square foot is $1,125/SqFt.

In the past 3 months, there were 2 waterfront condos that sold and closed escrow in Newport Beach. The lowest priced unit was a 3 bedroom, 2 bath, 1,561 square foot ground floor beach-front condo facing the back bay. The other sold unit is located in West Newport in Newport Marina Villas on Coast Hwy. This bayfront property incorporated 3 bedrooms, 3 baths, 1,849 square feet, and sold for $1.375,000.

For a private email list, with updates, of all oceanfront and bayfront properties listed for sale in Newport Beach, Ca. , visit our website at: www.OCJustListed.com, or give us a call for a private showing at: 949-388-3396 (NOTE: All prices stated in the article are subject to change at anytime.)

Oceanfront - Beachfront Real Estate in Dana Point, CA.

Vincent Bindi — Sat, 21 Jun 2008 16:45:36 -0700

Currently there are 5 oceanfront single family homes for sale that are in Dana Point, CA. Three of the homes are beachfront properties located on the sand on Beach Rd in Capistrano Beach, and are detailed as follows:

3 Bdrms, 3 baths, 2,506 SqFt, YrBuilt 1954.... $3.3Million
3 Bdrms, 4 Baths, 4,400 SqFt, YrBuilt 1987.... $7.199Million
5 Bdrms, 6 Baths, 4,700 SqFt, YrBuilt 2008... $11.9 Million

The fourth home is a 4 bedroom, 7 bath, 6,378 square foot waterfront estate built in 1973. This beachfront is located in the Niguel Shores tract on Seaward Isle, and the asking price is $13.5 Million.

The 5th oceanfront estate for sale incorporates 5 bedrooms, 7 baths, 6,100 square feet which is nearing completion of construction. This fine estate is located in the new ultra-luxury community called Monarch Estates on Strand Beach Dr., and boasts of a panoramic ocean view.

There are also 2 attached waterfront Condos for sale in Dana Point, CA. One of the Condominiums for sale incorporates 3 bedrooms, 3 baths, and 1,830 sqft of living area. This oceanfront Condo is located on E. View Point Dr. in the Dana Bluffs tract, and the asking price is $1,075,000. The other waterfront condominium is a 3 bedroom, 3 bath, 2,637 square foot unit. The bayfront condominium has an asking price of $2,775,000 and is located on Green Lantern St.

At the time of this article, there is one single family oceanfront estate that is under contract in escrow in the Monarch Bay tract of Monarch Beach. This waterfront estate comprises of 5 bedrooms, 6 baths, 5,682 square feet with a spectacular ocean view. The asking price of this estate was $7.995 Million and is located Monarch Bay Dr.

For more information on beachfront - oceanfront real estate for sale in Dana Point, or Monarch Beach, feel free to contact us at 949-388-3396 or email us at: Info@OCRealtyGroup.com

Newport Beach CA Home and Condo Prices

Vincent Bindi — Tue, 10 Jun 2008 09:16:51 -0700

Orange County is going through a major price correction currently, but property values in Newport Beach are doing much better then most other cities in Orange County. For south Orange County, detached homes have dropped in price from Spring of 2006' (the peak of the market) to today, by about 20% for Single Family homes, and around 28% for Attached Condos. These Stats are gathered from the Multiple Listing Service (MLS) and are calculated using Price per Square Foot.

In Newport Beach, single family detached homes have only dropped 6% since the Spring of 2006' and attached Condos have decreased 14% since early 2006'. A more in depth review of the Sales statistics reveals the following:

Detached Homes Sold in Past 90 Days:
Total = 77, Average Price= $2.13Mil, Median Price= $1.7Mil, Days on Market= 91

Attached Condos Sold in Past 90 Days:
Total = 50, Average Price= $994,000, Median Price= $700,000, Days on Market= 103

Detached Homes Sold in March, April, May of 2006':
Total = 91, Average Price= $2.23Mil, Median Price= $1.8Mil, Days on Market= 89

Attached Condos Sold in March, April, May of 2006':
Total = 77, Average Price= $1.08Mil, Median Price= $850,000, Days on Market= 95

We have found similar results in other high end coastal communities such as Newport Coast, Corona Del Mar and Laguna Beach. If you would like to view all homes or condos listed for sale in Newport Beach, CA., visit our website at: Newport Beach Homes and Condos.

Bankruptcy no longer a good solution for Mortgage Debt problems for Orange County homeowners.

Vincent Bindi — Thu, 05 Jun 2008 08:34:12 -0700

The Mortgage Bankers Association recently fought off federal legislation that would have allowed bankruptcy judges to modify residential mortgages. The MBA's victory was a huge success for lenders, but an unfortunate loss for homeowners who have declared bankruptcy.

Lenders disliked the proposal, since it would have shifted some of the power over mortgages from lenders' loss-mitigation departments to bankruptcy judges, who might have imposed modifications that the lenders wouldn't have liked.

The risk was deemed so serious that the MBA pulled out all the stops to pound the idea into dust. Lawmakers were lobbied, members were mobilized, press releases were issued, and the MBA's Web site featured a "Stop The Bankruptcy Cram Down Resource Center".

Consider "cram down," a bit of MBA-speak that refers to a judicial cut in the interest rate on a borrower's existing loan. The term may be new to some, but in fact dates back to the last real estate downturn. The phrase naturally evokes emotionally charged images of gagging, choking and force-feeding, none of which is relevant to a serious discussion of bankruptcy relief.

Consider also the MBA's claims that mortgage interest rates would rise by as much as 2 percentage points and that lenders would be forced to require bigger down payments and charge higher closing costs if bankruptcy judges had a say. No factual evidence was offered to support these arguments.

In fact, a causal connection between the so-called "cram down" and significantly higher interest rates is a stretch at best, according to an academic paper by Adam J. Levitin, a law professor at Georgetown University. The paper stated that even unlimited loan modifications in bankruptcy courts would have only an insignificant, if any, impact on mortgage interest rates or mortgage markets.

Of course, the MBA also had a promised presidential veto in its pocket and the support of Alphonso Jackson, the now-former secretary of the U.S. Department of Housing and Urban Development. In a speech, Jackson called the proposal "an odd, time-consuming, distant way to help homeowners," and said, seeming with no evidence other than the MBA's say-so, that it would increase interest rates and -- horror of horrors -- benefit lawyers and law firms.

The MBA has supported other measures such as pre-foreclosure counseling, the use of mortgage revenue bonds to refinance subprime loans, and the strictly voluntary Hope Now loan workout program. These measures may be worthwhile, but the cost to lenders is minimal and so far, the results have been modest.

Not surprisingly, consumer groups support an expansion of bankruptcy judges' jurisdiction to encompass residential mortgages. AARP, the AFL-CIO, ACORN and the Center for Responsible Lending are among the groups in favor of this proposal. These groups believe the federal government should put more pressure on lenders to help homeowners who are in danger of foreclosure, and a Congressional Budget Office report said lenders might have more incentive to modify loans if bankruptcy judges had the power to impose such concessions.

The MBA deserves plenty of credit and kudos for the success of its "Stop the Cram Down" effort. The group did exactly what such groups are supposed to do, which is to protect the interests of their own members -- no matter how narrow or parochial those interests may be.

But at the end of the day, the win on this one should have gone to the homeowners. Bankruptcy isn't pretty, and recent changes to the U.S. bankruptcy code have already made the process more onerous. Yet bankruptcy serves a legitimate and important public policy purpose, which is to give people in dire straits a fair and reasonable way out of their extremities. Bankruptcy shouldn't be just another form of Dickensian debtors' prison. It should offer real relief and an opportunity for folks who've experienced hard times to get a fresh start.

As the law stands today, home-loan lenders are a favored class of creditor in the bankruptcy system. In fact, residential owner-occupant mortgages are perhaps the only type of debt that bankruptcy judges aren't allowed to modify. Judges can alter loans backed by cars, boats, farms, manufacturing plants, mobile homes, vacation homes and investment properties.

Of course, there should be limits to bankruptcy judges' power, and the proposed legislation contained plenty of them, perhaps even too many. Relief would have been offered only to homeowners who faced imminent foreclosure, who had a subprime or nontraditional loan such as an interest-only or payment-option adjustable-rate mortgage, and whose income wasn't sufficient for them to afford their mortgage payments. Bankruptcy judges would be required to set commercially reasonable interest rates on modified mortgages and wouldn't have been allowed to reduce loan balances to less than the home's market value.

Homeowners who've been forced into bankruptcy deserve a chance to keep their homes if they can afford to make reasonable mortgage payments, and bankruptcy judges are in a good position to make that call.

REO and Pre-Foreclosure Statistics for Orange County, CA.

Vincent Bindi — Mon, 02 Jun 2008 15:36:51 -0700

Today, foreclosed REO homes and Pre-Foreclosure (Short Sales) make up a large percentage of the Listings and Sales in Orange County, CA. This severe market correction started in the summer of 2006', and probably has 6 to 12 more months to go. Currently, there are 15,046 homes and condos Active for sale (Listed in the MLS). Of this total, 29.5% are Short Sales and 6.3% are bank owned REO's. This represents a total of 35.8% of all inventory is a financially distressed property on the market for sale. Below is a table showing these results as well as how these percentages of distressed listings range from City to City.

As can be seen in the table below, this market correction is affecting the lower priced markets much more severely then the highest priced markets. For example, 64% of Santa Ana's inventory of homes for sale are either foreclosed REO's or Short Sales. While only 4.4% of the inventory or properties for sale in Laguna Beach, CA are bank owned REO's or Short Sales.

Properties Active for Sale

City	Listings	Short Sales	Short Sale %	REO	REO %	% Total Distressed
Anaheim	1207	615	51.0%	157	13.0%	64.0%
Huntington Beach	699	121	17.3%	18	2.6%	19.9%
Laguna Beach	343	12	3.5%	3	0.9%	4.4%
Mission Viejo	448	159	35.5%	28	6.3%	41.7%
Orange	667	211	31.6%	53	7.9%	39.6%
Rancho SM	367	131	35.7%	28	7.6%	43.3%
San Clemente	528	88	16.7%	15	2.8%	19.5%
Santa Ana	1595	815	51.1%	207	13.0%	64.1%
Yorba Linda	426	67	15.7%	14	3.3%	19.0%
Orange County	15046	4432	29.5%	951	6.3%	35.8%

Looking at the number of properties sold in the past 90 days reveals some other interesting facts. There are 951 Bank Owned REO properties currently on the market for sale, and 986 REO's sold and closed escrow in the past 90 days. This results in just 2.9 Months of Inventory which is a Sellers Market ! For those of us working in the field, this chives with experience in which many REO listings are selling rapidly and many with multiple offers. The other interesting fact to not is that there are 4,432 short sales actively listed for sale, but only 556 closed in the past 90 days. This represents 24 Months of Inventory. What is actually going on here is that the Short Sales are actually selling at a much higher rate, but these sales have a high failure rate for many inexperienced Listing Agents are having hard time getting them approved by the Banks in order to close. The moral of this story is that if you are interested in purchasing a Short Sale, make sure you are working with an experienced agent who has a track record of success with these types of purchases.

Properties Sold in the Past 90 Days

City	Sold Past 90 Days	Short Sales	Short Sale %	REO	REO %	% Total Distressed
Anaheim	337	44	13.1%	118	35.0%	48.1%
Huntington Beach	364	31	8.5%	34	9.3%	17.9%
Laguna Beach	49	2	4.1%	2	4.1%	8.2%
Mission Viejo	226	22	9.7%	52	23.0%	32.7%
Orange	223	25	11.2%	45	20.2%	31.4%
Rancho SM	189	40	21.2%	33	17.5%	38.6%
San Clemente	157	21	13.4%	24	15.3%	28.7%
Santa Ana	306	41	13.4%	130	42.5%	55.9%
Yorba Linda	134	12	9.0%	12	9.0%	17.9%
Orange County	5370	556	10.4%	986	18.4%	28.7%

Here is another way of looking at it. There are 4 times as many short sales listed for sale as compared to bank owned foreclosures (REO). But when it comes to actual closed sales, there are twice as many Bank REO closed sales are there are short sale closings.

Why you may ask ?? Here is what's going on....Short Sales are receiving offers to purchase at a much higher rate, but these transactions are experiencing a high failure rate for many inexperienced Listing Agents are having hard time getting them approved by the Banks in order to close. The moral of this story is that if you are interested in purchasing a Short Sale, make sure you are working with an experienced agent who has a track record of success with the Short Sale.

If you have any questions regarding Bank REO's or Short Sales in Orange County, contact us at: 949-388-3396 or drop us an email at: Info@OCBankREO.com Also, we just opened a new website for Banks who have REO properties for sale in Orange County, Ca.

Mission Viejo Short Sales and Bank Foreclosure Sales Stats - April 08'

Vincent Bindi — Thu, 29 May 2008 08:52:37 -0700

Currently, there are 461 properties Active for sale in Mission Viejo, Ca. Of these, 150 are attached Condominiums, and the remaining 311 active listings are detached single family homes. There are a total of 175 homes and condos currently in escrow which represents approximately a current reading of 4 months of inventory. In addition, there were 83 properties that sold and closed escrow in the month of April, which equates to about 5.5 months of inventory from sales that occurred about 2 months ago. The market is definitely improving for the months of inventory for most of last year in Mission Viejo was much higher at about the 10 month range.

Of these 461 properties listed for sale in Mission Viejo, CA, 164 are short sales which represent 35.5% of the total inventory of listings. Also, 37 of the active listings are Bank Owned foreclosures (REO) which represents about 8% of the total inventory. The total number of financially distressed listings is 201 which is 43% of the total inventory of properties listed for sale.

Currently, of the 175 total properties pending in Escrow in Mission Viejo, 49 of these homes and condos are short sales. This represents about 28% of the inventory of properties under contract in escrow. In addition, there are 31 properties pending in escrow that are bank owned foreclosures, which represents about 21% of the total pending properties. The total of financially distressed homes and condos currently under contract in escrow in Mission Viejo is 45%.

For the month of April, there were a total of 83 homes and condos that sold and closed escrow in Mission Viejo, CA. Of this total, there were 6 short sale properties that closed, which represents 7% of the total closings. In addition, there are 15 bank owned foreclosure properties that sold and closed in April which represent 18% of the total sales for that month. The total number of financially distressed properties that sold in April was 21 which represents 25%.

To learn more about short sales and bank owned foreclosures, or to receive a proprietary list of all short sale and bank REO properties listed for sale, visit our website at OCBargainHomes.com, or drop us an email at: Info@OCBargainHomes.com

Irvine CA. Foreclosure, REO and Short Sale Sales Stats

Vincent Bindi — Tue, 27 May 2008 18:09:23 -0700

Currently there are 840 Active properties listed for sale in Irvine, CA., of which 414 are attached Condos, and 426 are detached single family homes. Of these 840 homes and condos for sale, 152 are Short Sales listed for sale, which represents 18% of the total inventory. 11 of these properties Active for sale are Bank Owner Foreclosures which represent just 1.3% of the total inventory of homes and condos for sale in Irvine, Ca.

Today, there are 245 properties that are under contract pending in escrow in Irvine, CA. Of this total, there are 58 Short Sales properties that are pending in escrow, which represents 23.6% of the total number of properties in escrow. In addition, there are 19 Bank Owned Foreclosures that are pending in escrow in Irvine, which represents 7.7% of the total pending properties.

For the past month of April, there were 146 homes and condos that sold and closed escrow in Irvine, CA. Of this total, there were 14 Short Sale properties that sold, which is 9.5% of the total volume of sales for April. Finally, there were 16 homes and condos that sold in the past month that were Bank Owned foreclosures, which represents 10.9% of all properties sold in April in Irvine, Ca.

For more information regarding Bank Owned foreclosure properties, or short sale properties listed for sale, please call us at: 949-388-3396.

Orange County CA. Market Stats for Homes and Condos

Vincent Bindi — Mon, 26 May 2008 13:16:18 -0700

We have been collecting statistics for south Orange County CA. residential real estate since July of 2002' on a weekly basis. We’ve created and have been charting our own proprietary Months of Inventory calculation which is based upon the No. of Homes Active for Sale and No. of Homes in Escrow. The traditional Months of Inventory calculation that the major Banks and Title companies quote, is based upon Active Homes for Sale Inventory and the No. of Homes that have sold in the past Quarter or the past 6 months. The problem with this indicator, is by the time information is gathered, calculated and disseminated, it is based on information that is 4 to 7 months stale… If you work in the industry, that is dated and almost useless information…. Although the Press may love it… Our Months of Inventory calculation is much more time sensitive… essentially a 'Real Time' report. We have also created our own Pricing Indicator which is also much more time sensitive then we the established press produces. It is based upon a moving average of the Price/SqFt for Detached Homes and Condos in a calculated range of sizes and cities.

I went out on a limb 2 weeks ago, and 'rang the dinner bell' as the time to start buying. The Stats we gathered this morning, have further supported this stand. Looking at the 1^st Graph above, the overall Months of Inventory has dropped from a high of 17.5 months (which is a very soft Buyers Market) in Oct of 07’ down to 5.3 Months today, which is a Neutral Market !!! As a matter of additional fact, the low price range of properties below $450K, have now reached the top end of a ‘Sellers Market’ at 4 Months of Inventory. Granted, many of the sales in this price range are Bank Owned REO’s and Short Sales. Most of these properties are selling in the first week of being on the market with multiple offers and some are getting bid up by 3% to 5% above the asking price =====>

Aliso Viejo CA Foreclosure, Short Sales and Bank REO sales Stats - April, 2008

Vincent Bindi — Sun, 25 May 2008 10:35:34 -0700

Currently, there are 293 homes and condos Active for Sale in Aliso Viejo, CA. 170 of which are Attached Condos and the other 123 are Detached Single Family Homes. Of these 293 properties, 116 of these are Short Sale homes or condos listed for sale, which represents 39% of the Inventory. In addition, there are 16 homes and condos listed for sale which are Bank owned REO properties in Aliso Viejo, which represents 5.5% of total inventory.

Today, there are 110 properties in Pending in Escrow in Aliso Viejo, CA. Of these properties, 37 are Short Sale listings under contract which represents 33% of the properties in Escrow. 15 of these escrows are Bank Owned Foreclosures which represent 13.6% of the properties currently in escrow in Aliso Viejo.

For the month of April, there were 56 properties that sold and closed escrow in Aliso Viejo, CA. 7 of these closed properties were Short Sales which represent 12% of all closings for last month. 14 of the homes and condos that sold and closed in April where Bank Owned foreclosure homes, which represent 25% of all closings for last month.

If you are interested in receiving a VIP list of all Bank Owned Foreclosures, and Short Sale properties listed for sale, please visit our website at: OCBargainHomes.com. If you have any questions about Bank Owned REO or short Sale Properties, please feel free to call us at: 949-388-3396.

Short Sale is better then Just Walking Away - Orange County, CA.

Vincent Bindi — Fri, 02 May 2008 13:51:13 -0700

There are many Orange County homeowners who are caught in today's mortgage loan crisis. Home values have now dropped by 20% to 30% in some cases. And there are a large number of highly leveraged loans with adjustable rate mortgages, which results in thousands of Orange County property owners having great difficulty keeping up with their mortgage payments, and unable to refinance or sell. There is now a growing trend for homeowners who are caught in this mortgage loan crisis, to simply stop making their mortgage payments and walk away from their home and letting it go to foreclosure sale. There is even a website company that focuses on this growing trend and charges clients $1,000 or more simply to tell them to let the home fall into foreclosure. I think this is a big mistake. A Short Sale is a far better solution, and more socially responsible choice compared to simply letting the property go back to the bank via foreclosure. Let's compare the two choices.

First a few definitions. In a Short Sale, the homeowner decides to the sell their home, and the sales price minus sales costs, are less then the current loan balances on the property. In this scenario, the mortgage bank(s) must agree to forgive some of their debt in order for the property to be sold and close escrow. A Foreclosure is a legal process initiated by the mortgage bank(s) after several months of mortgage payments have been missed by the homeowner. This Foreclosure process begins with a 90 day Notice of Default process, followed by a 3 week Notice of Trustee sale period. At the end of this period, the home is sold via open outcry auction on the county courthouse steps to the highest bidder, or goes back to the bank unsold and becomes an REO property.

The Short Sale is a much more dignified solution then a Foreclosure. In a Short Sale, you list your home with a local Realtor (who has experience with short sales). As far as your neighbors and the public is concerned, it is a normal home sale, just like any other. A Foreclosure on the other hand, usually winds up first as a vacant neglected bank owner REO home with a brown lawn, dead landscaping, and stacks of nwepapers on the driveway. Then a REO Agent posts "Bank Owned Home" signs all around the neighborhood during the weekend for weeks in a row. In addition, Short Sales nominally sell for about 5% more then the corresponding resale of the bank REO. A Short Sale transaction is better for the bank, the local real estate market, and even the homeowner.

The Short Sale is better for the homeowner for financial reasons as well. A foreclosure will usually stay on ones credit report for up to 7 years, while according to mortgage industry experts, the newly refurbished FHA loan will allow a prospective buyer buy a home with 1 year after conducting a Short Sale. Also, industry experts in credit counseling state that a Short Sales are approximately 100 points less damaging to ones credit as compared to a Foreclosure sale.

Finally, a little know but huge advantages of a short sale as compared to a foreclosure is the following. In Orange County, there are many homeowners who have a 2nd trust deed (TD) Home Equity Line of Credit (HELOC) loans. The majority of these loans are recourse loans, which in California, means that if the first mortgage were to foreclose, the 2nd TD HELOC loan is removed from the home, but is not wiped out at the foreclosure sale. It then becomes a delinquent unsecured debt. The 2nd TD HELOC lender then has no other choice but to go after the homeowner will all of the legal recourse available to them. A Short Sale, on the other hand, allows the knowledgeable real estate agent to negotiate with both the 1st and 2nd mortgage holders, in order to divert some of the available sales proceeds to the 2nd HELOC lender, so that they will agree to wipe out the HELOC debt at the close of escrow with no recourse against the homeowner.

If you have any questions about the Short Sale process, please feel free to call for our real estate team has many years of experience in this area of expertise.

Short Sale and Bank REO sales in Dana Point, CA. - April 2008'

Vincent Bindi — Wed, 30 Apr 2008 15:09:41 -0700

Currently there are 288 homes and condos listed for sale in Dana Point. Of these properties, only 18 are Short Sale homes and condos, and 12 Bank owned REO properties listed for sale in Dana Point, CA. This represents 10% of the available inventory are distressed properties for sale. For sold homes in the month of April, there were 35 properties that sold and closed escrow in the past month. Of these 35 sold properties, 4 were Bank Owned REO transactions, and 1 was a Short Pay property. This represents 14% of the transactions in the month of April were distressed properties.

If you would like more information about homes and condos for sale in Dana Point, CA., please visit our website at: Dana Point Real Estate. If you would like more information about short sale or Bank Owned REO properties, visit our OCBargainHomes.com website by clicking on the link at the top left of this blog.

The Affodable Luxury 55+ Condos in Laguna Woods, CA.

Vincent Bindi — Mon, 24 Mar 2008 11:11:13 -0700

Looking for an enchanting retirement community? Then Laguna Woods is the place for you! Enjoy the vibrant lifestyle and beautiful weather of this tight knit 55+ community located in the magnificent Orange County. Laguna Woods encompasses four square miles adjacent to Laguna Hills in an exceptionally safe area with guarded security gates. It is conveniently located just a few minutes from the Laguna Hills Mall which provides over 80 retail shops, several appealing dining locations, and an on-site movie theater. Opportunities for activities in this charming city are endless. Have you ever been interested in horse back riding? The Laguna Woods Equestrian Center provides trails, horses, and training for their residents as well as special events that are hosted annually. Take advantage of the endless amenities including Laguna Woods golf course, walking trails, fitness centers, community pool and spa, sauna, picnic areas, tennis courts, and a community recreation clubhouse. Laguna Woods provides a free bus system to residents making transportation easy and comfortable.

One can find a condo, townhome or a detached home to fit most anyones tastes and budget. From modest 1 bedroom flat condos, to spacious 3 bedroom detached homes with 2 car attached garages, Laguna Woods has it all for the 55+ buyer. Laguna Woods incorporates 12,700 owned condominium and cooperative units which house approximately 18,500 residents. Owners who live in Laguna Woods pay a homeowners’ association fee that is used to provide residents with public transportation, patrolled private security, clubhouses with special programs and recreational activities. Also included within the Leisure World community are two golf courses for the private use of Laguna Woods residents.

Take a look at our featured, beautifully remodeled property located of 3426 Bahia Blanca in Laguna Woods. Today's Laguna Woods featured condo for sale is a 2 bedroom, 2 bath, 1 garage condo which has been been completely renovated to new condition, such as: Marble flooring in the kitchen area, beautiful granite counters in kitchen and bathrooms with full back splash and waterfall edge, solid maple cabinets with cushion close drawers, crown molding throughout, hot and cold filtered water system in kitchen, Stainless appliances, Jacuzzi tub in master bedroom, surround home theater speaker system, new water heater, and more! Currently, this luxurious condo is ranged priced from $450,000 to $500,000. With a lovely views of the hills in Laguna Wood, anyone would be proud to call this magnificent property home.

The City of Laguna Woods was incorporated in March 1999 and encompasses approximately 2,100 acres of land. The City of Laguna Woods is located in south Orange County between the San Joaquin Foothills and the Santa Ana Mountains. The City is bordered on the north, east, and southeast by the City of Laguna Hills, on the northwest by the City of Irvine, on the west by unincorporated Orange County and the City of Laguna Beach, and on the south by the City of Aliso Viejo. With more than 86% of the population over 65 years of age, the elderly are the largest special needs group in the City of Laguna Woods. Affordable housing has been identified by South County Senior Services as the primary need for the elderly; health care and in-home care and transportation services needs were also indicated. Significant resources for the elderly exist in and near the City of Laguna Woods and Florence Sylvester Memorial Senior Center; offers a nutrition program, congregate meals, home delivery of meals, social services case management, seniors activities, information, and referral services.

If you would like to view all homes and condos for sale in Laguna Woods, please visit our website at: Search Orange County Homes and Condos

New FHA Loan Limit for Orange County CA.

Vincent Bindi — Mon, 17 Mar 2008 16:42:13 -0700

As stipulated in the newly passed Economic Stimulus Bill of 2008, FHA announced the new loan limits for Orange County, CA. This new FHA loan limit is based on a calculation of 125% times the median price, up to a maximum of $729,750. Since the median price in Orange County is around $600,000, the new FHA loan limit for Orange County is the maximum allowed. Below is a table of the loan limits for single family homes, as well as small multi-family housing:

Single Family Home ---- $729,750
Duplex --------------------- $934,200
Triplex ------------------ $1,129,250
Four-plex -------------- $1,403,400

HUD Secretary, Alphonso Jackson recently announced the new limit increase at the Anaheim Convention Center where HOPE NOW was conducting a national anti-foreclosure campaign. This new $729,750 limit will double the previous FHA loan limit of $362,790, the U.S. Department of Housing and Urban Development (HUD) announced. This limit is good until the end of the year when it reverts back to $362,790, but some feel this deadline will be extended into 2009'. This new bill will allow FHA to refinance of up to 97% loan to value, but most mortgage lenders will only go up to only 90% loan to value.

This new FHA loan limit will enable many Orange County homeowners to refinance out of their expensive adjustable rate mortgages, even if their property has has gone done in value over the past few years. Also, the new FHA loan program will allow some homeowners with adjustable rate mortgages to refinance if they are behind on payments.

Another great benefit for Orange County would be home purchasers, is that FHA is much more forgiving of a few negative marks in ones FICO credit rating. in the past 12 months, Conventional lenders have become much more demanding on credit quality. New FHA underwriting will also allow for more flexible income documentation and less time on a given job.

This new FHA loan limits for orange County plus more flexible qualification standards could be a big boost for the slumping Orange County housing market. Many Orange county residents depend on jumbo loans, anything above the current $417,000 limit. Interest Rates on jumbo loans are more expensive, ten conforming loans (ie: loans below $417,000). The average rate tis past week for a 30-year fixed conforming loan in Orange County was 5.9 percent with a one-point fee, while the average jumbo rate on a 30-year fixed was 6.9 percent with a one-point fee.

If you would like more information on the new FHA loan limits, or would like a referral to a couple of great local FHA lenders, feel free to call us at: (949) 388-3396, or send us an email at: Info@OCRealtyGroup.com We specialize in Short Sale workouts for Orange County homeowner in need. If you would like to learn more about Short Sale workouts, visit our website at: www.OCShortSaleCenter.com

The Homes at Crown Valley Highlands, Laguna Niguel, CA.

Vincent Bindi — Mon, 10 Mar 2008 20:42:11 -0700

The beautiful one story single family homes at Crown Valley Highlands were built in the early 1970's by Avco builders. This popular community was developed in the foothills of north Laguna Niguel and many of the lots provide a panoramic view. The residences at Crown Valley Highlands offer a wide variety of 8 single story floor plans ranging in size from 1,157 to 1,700 square feet. These floor are listed as follows:

Carmel - A: 3 bedroom, 2 bath.
Palm Beach - B: 3 bedroom, 2 bath.
St. Topez - C: 3 bedroom, 2 bath.
Nassau - D: 4 bedroom, 2 bath.
Newport - E: 3 bedroom, 2 bath.
Key West - F: 4 bedroom, 2 bath.
Costa Brava - G: 2 bedroom, 2 bath.
Montego - H: 3 bedroom, 2 bath.

Over the years, some of these homes have been completley remodeled with room additions, and some homes now range in size up to 1,900 square feet. Crown Valley Highlands boasts of a community swimming Pool, wading pool, clubhouse, community parks and hiking/biking trails close by.

Home prices currently range from a low of $520,000 for the smallest floor plans with no view, and view upgrades, up to the $750,000 for the larger floor plans with some views and some upgrades. The streets that comprise of Cronw Valley Highlands are: Belmar Dr., Calverton Cir, Colebrook Dr., Ellendale Dr., Felton Dr., Jarrett Cir., Kensington Dr., Preston Dr., Quigley Dr., Sedgewick Dr., and Warwick Dr. Crown Valle Highlands is located close to the intersection of Niguel Road and Alicia Parkway.

Crown Valley Highlands is serviced by the award winning Capistrano Unified School District. The grade school is Moulton Elementary, and the Junior High is Aliso Middle School. The upper classes are conducted at the award winning Aliso Niguel High School.

If you would like to view all homes for sale in Lagun Niguel, please visit our website at: Laguna Niguel Real Estate. If you have any real estate related questions, or would like to view any home listed for sale in Laguna Niguel, please email us at: Info@OCRealtyGroup.com or Text Message us at: 949-283-4679

Luxury Homes at Careyes in Talega - San Clemente, CA.

Vincent Bindi — Sun, 09 Mar 2008 22:31:19 -0700

The beautiful estate homes in the gated community of Careyes at Talega were built in 2005' by the prolific home builder, Brookfield Homes. This fine subdivision consists 42 luxury homes comprising of 7 spacious 4 to 6 bedroom floor plans ranging in size from 4,400 to 5,200 square feet. These Rancho Santa Fe inspired homes feature bold architectural styling with romantic courtyards, private quest suites and view decks. The floor plans are detailed as follows:

Plan 1 - A - 5 bedrooms, 5.5 baths, 4,488 square feet, 3 car garage
Plan 2 - B - 5 bedrooms, 5.5 baths, 4,693 square feet, 4 car garage
Plan 2CX - C - 5 bedrooms, 5.5 baths, 5,013 square feet, 4 car garage
Plan 2DX - D - 5 bedrooms, 5.5 baths, 5,075 square feet, 4 car garage
Plan 3 - E - 5 bedrooms, 5.5 baths, 4,855 square feet, 3 car garage
Plan 3CX - F - 5 bedrooms, 5.5 baths, 5,175 square feet, 3 car garage
Plan 3DX - G - 6 bedrooms, 6.5 baths, 5,237 square feet, 4 car garage

These homes overlook the Talega Golf Course and many of the homes boast of panoramic views. Each home has a 3 or 4 car garage, and separate family and living rooms. Some of the luxury features one will find in these homes comprise of: Center courtyard, Guest Casita, over-sized fireplace, forever views to the ocean, wood beamed ceilings, hardwood flooring, gourmet kitchens with granite counters, maple cabinets, top appliances, formal dining room with built-in buffet and butler's pantry, custom stone tile, main floor library or office/den with built in cabinetry, built-in media center, large master suite with built-in office cabinetry, huge walk in closet, luxurious bath with dual vanities, large soaking tub and separate tile shower, and much more.

All of the homes in the Careyes tract are located on Calle Careyes or Calle De Los Sonador, which are located just of off Avenida Talega, but the corner of Avenida Pico and Avenida La Plata.

Current prices for the fine estate homes of Careyes range from $1.7 Million up to $2.5 Million. The Careyes tract is serviced by the award winning Capistrano Unified School district. The elementary school is vista Del mar, and the middle school is also Vista Del Mar. the upper classes are conducted at San Clemente High School.

Telaga is a beautiful maser planned community recently developed in the mid 2000's, and is nestled in the rolling hills of central San Clemente at the end of Pico Avenue. Talega has over 2,000 acres of open space, 19 miles of trails, a nature preserve, swim and athletic clubs, the championship Talega Golf Course, and numerous parks and sports fields.   And best of all, it just a short drive to the beautiful beaches of San Clemente.   San Clemente was founded in 1925 by Ole Hanson, who called it the "Spanish Village by the Sea". Amazingly, the whole feel of the downtown portion of the city and pace, hasn't changed much since that time. The sun shines about 342 days of the year. and the people are still some the friendliest around. For decades, this charming, laid back city has been both a favorite coastal destination and one of the nicest spots in Orange County to call home.

If yo would like to see all homes listed for sale in Talega or San Clemente, please feel free to visit our website at: San Clemente Real Estate.   Or if you would like a private showing of any home listed for sale, please contact us at: Info@OCRealtyGroup.com    or Text us at: 949-283-4679.

Affordable homes for Sale in Aliso Viejo

Vincent Bindi — Wed, 05 Mar 2008 11:00:07 -0800

Real estate prices in Orange County have pulled back substantially in the past 18 months. In the City of Aliso Viejo, CA. the price per square foot in the 3rd Quarter of 2006' was $408/SqFt, and the price per square foot for detached homes now stands at $336/SqFt. This represents a drop in values of 17.5%. This severe pull back in prices is the result of a much needed correction to the unprecedented run-up in prices from 1997 to 2006', coupled with a high rate of foreclosures caused by the easy money lending standards of the past 5 years.

This major drop in home prices, has made for a good time for prospective home buyers. Today's prices represent what homes were selling for in mid 2004', and interest rates are still at all time lows. Plus, congress is about to pass temporary loan limit increases for FHA loans, which will enable many first time home buyers to purchase a home in Aliso Viejo.

Currently there are 27 detached homes that are listed for sale that are priced less then $550,000. These homes range in price from $449,000 for a 3 bedroom, 2 bath, 1,300 square foot detached home on Soho Court in the Hamptons tract. Up to the $550,000 mark for a 3 bedroom, 3 bath, 1,722 square foot home on Wellington Place in the Canterbury tract.

Address	Bdrms	Baths	Garages	SqFt	Yr Built	Price	Days on Market
3 Soho Ct 38	3	2	2	1,300	1996	$449,900	128
89 Colony Way	2	3	2 A	1,455	1993	$459,900	0
7 Greenwich Ct	3	3	2 A	1,286	1997	$474,876	118
7 Greenborrow Ct	3	2	2 A	1,367	1997	$475,000	118
33 Colony Way	3	2	2	1,455	1995	$479,000	108
4 Maison	3	3	2	1,334	1998	$489,000	36
7 Ryley Ct 18	3	3	2 A	1,300	1996	$489,900	33

29 Santa Clara St	3	3	2	1,493	1989	$495,000	0
4 Estero Pointe	4	3	2 A	1,400	1998	$500,000	23
10 Beaumont	2	2	2	1,102	1998	$500,000	23
37 Rue Du Chateau	3	3	2	1,378	1999	$519,000	15
32 Santa Clara St	3	3	2	1,301	1990	$519,000	12
1 Sherrelwood Ct	4	3	2 A	1,550	1996	$519,000	2
18 Cape Coral	3	3	2 A	1,400	1995	$599,876	49
2 Beaumont	3	2.5	2 A	1,344	1997	$529,800	182
110 Las Flores	3	3	2	1,400	1997	$535,000	6
6 Dominguez St	3	2.5	2 A	1,500	1989	$539,900	63
10 Las Flores	2	3	2	1,363	1997	$539,999	275
11 Via Carisma	3	3	2 A	1,600	2000	$540,000	239
55 COLONY Way	3	2	2 A	1,500	1995	$549,000	170
197 Woodcrest Ln	4	3	2	1,800	1997	$549,000	23
24 Rue Du Chateau	3	3	2 A	1,234	2000	$549,900	76
53 Picket Ln	3	3	2 A	1,500	1999	$549,900	0
17 Wellington Pl.	3	3	2 A	1,722	1999	$549,999	101
190 Las Flores	2	3	2	1,200	1996	$550,000	28
5 Santa Clara St	3	2.5	2 A	1,301	1993	$559,000	49

If you would like to view all condos and homes for sale in Aliso Viejo, feel free to visit our website at: Aliso Viejo Real Estate. For a proprietary list of bank owned homes or pre-foreclosure homes for sale, visit our www.OCBargainHomes.com website.

Affordable Ocean View Duplex Home in Laguna Beach, CA.

Vincent Bindi — Wed, 27 Feb 2008 16:05:54 -0800

We are featuring a spacious Duplex home located in North Laguna Beach and just 1 block from the beaches, located on Beverly Street, priced in the mid $1 Million dollar price range. This property is perfect for the a home owner who wants to live in one unit and rent out the other. The front unit consists of a 2 bedroom, 2 bath unit consisting of 1,100 square feet and attached 2 car garage. This home boasts of an Ocean View from the garden room, and has hardwood floors. This unit does not have a connecting living area wall with the back unit which offers the maximum in sound insulation and privacy.

The upper-level rear unit consists of 2 bedrooms, 1 bath, 1,000 square feet.and a 1 car garage. This home also offers an Ocean view, hardwood floors and enclosed deck. This is an excellent property for a property owner who wants to live in one unit and rent out the other. The total square footage of the improvements is 2,106 square feet built in 1958. This duplex home is situated on a 4,500 square foot lot.

This upper unit is projected to rent for approximately $2,300 per month. The front 2 bedroom, 2 bath unit is projected to rent for $3,100 per month. The electricity and gas are individually metered, and has been well maintained.

This Laguna Beach gem is just one block from the ocean front and Heisler Park, and jsut down the street from Boat Canyon shopping center. Laguna Beach is known for it's steep cliffs overlooking the crashing waves of the pacific, water-etched coves, and deep canyons. North Laguna Beach was first developed in 1905 by Howard Heiseler and others. Laguna Beach has a population of approximately 25,000 residents. There are currently 240 detached homes for sale in all of Laguna Beach. The median priced detached home is $2,250,00, and the average price is $3,426,907. In North Laguna Beach the median priced detached home is $2,850,000 and the average priced home in this area is $4,874,219.

For current pricing, or for a private viewing of the Duplex home for sale on Beverley Street, please call us at: 949-388-3396, or Text Message us at: 949-283-4679. To view all homes for sale in Laguna Beach, visit our website at: Laguna Beach Real Estate

New Economic Stimulus Bill will raise Conforming Loan Limit.

Vincent Bindi — Thu, 21 Feb 2008 13:53:51 -0800

President Bush signed the Economic Stimulus Bill into law this past Wednesday, February 13th. Although the details are not finalized, the department of Housing and Urban Development (HUD) has 30 days to publish the median area home prices, Metropolitan Statistical Areas and mortgage principal obligation limits after the bill became law. The new Proposed Fannie Mae and Feddie Mac conforming loans are to be based on 125% of the area median home price not to exceed $729,750. That is great news for Orange County, for the median home price here is approximately $600,000, which means that Orange County conforming loan limit should be around the $729,000 limit.

I expect that this year will be the bottom of this severe market correction. With the proposed buy-out of Countrywide Mortgage by Bank of America, the recent large decrease in the Fed funds rate, the new Federal program called Project Life Line that helps delay and possibly avoid Foreclosures, and this new Economic Stimulus Bill raising loan limits, this should put the brakes on further price erosion here in Orange County..

The new loan limits will apply to 30 year and 15 year fixed rate, fully amortizing (sorry no interest only) and owner occupied homes only. They should also apply to high Loan to Value (LTV) FHA loans which should really help to stimulate the local real estate market back to normal health. Adjustable rate mortgage are being considered but but I would not count on it. Although the bill has passed the information above is not final. Changes are set to expire on December 31, 2008, although I would be willing to bet the this Bill is extended like many other Bills in years gone by.

Luxury Estate for Sale in Yorba Linda, CA.

Vincent Bindi — Mon, 18 Feb 2008 15:27:10 -0800

A beautiful estate was recently listed for sale in the Montecito subdivision in Yorba Linda, CA. This luxury property is located on Red Pine Rd. and was recently built in 2003'. It incorporates 4,708 square feet of living area, with 5 bedrooms, 6 baths, and a 3 car garage. It boasts of panoramic views of the Pacific Ocean, Catalina Island, and city lights views.

This property includes many fine upgrades and features such as: gourmet kitchen with stainless appliances, cherry wood cabinets with granite counter tops, crown molding throughout, wood shutters, window casings, custom paint, custom mosaic stone, travertine throughout the first floor with designer carpet upstairs. This fine home also includes 3 fireplace, a large mater bedroom suite with balcony offering panoramic views. An office/retreat area and separate library is also included in this home.

The backyard is an entertainers delight and incorporates a pebble-tech saltwater swimming pool with waterfall, built-in slate Bar-B-Que, outdoor firepit and patio spaces with panoramic views. This fine estate is located at the end of a quiet Cul-de-Sac and is situated on a 10,000 square foot lot.

The Motecito subdivision is adjacent to Carbon Canon Park and is close to the intersection of Valle View Ave and Lakeview Ave. Home in this tract are serviced by the Placentia-Yorba Linda Unified School district. The elementary school for this area is Lakeview, and the middle school is Yorba Linda junior high. The high school is El Dorado.

For a private viewing of this fine property, please call us at: 949-388-3396, or drop us an email at: Info@OCRealtyGroup.com To view all homes for sale in Yorba Linda, please feel free to vidit our website at: Orange County MLS Home Search.

Ladera Ranch Home Prices - Feb 2008'

Vincent Bindi — Tue, 12 Feb 2008 12:38:48 -0800

Currently there are 221 detached homes for sale in Ladera Ranch, CA. these homes range in price from $465,000 for a 3 bedroom, 2 bath, 1,812 square foot home in the Tarleton tract on Rinehart road. On up to $5,995,000 for a 5 bedroom, 7.5 bath, 8,700 square foot estate property in Covenant Hills on Bell Pasture Road. The median priced home is $989,900, and the average priced home is $1,309,576. The average days on market is 96 days and the average price per square foot is 376/SqFt.

Today, there are 24 detached single family homes that are under contract Pending in escrow. These homes range in price from $524,900 for a 3 bedroom, 2.5 bath, 1,775 square foot home on Livingston Place in the Westcott tract. The maximum home in escrow, is $3,395,000 for a 5 bedroom, 5.5 bath, 4,923 square foot estate home in Covenant Hills on Mission Ridge. The median priced home is $989,000 and the average priced home in escrow in Ladera Ranch is approximately $1,250,000. The average price per square foot is $324/SqFt and the average days on market is 80 days.

For homes that have sold and closed in the past 90 days in Ladera Ranch, there were 42 such detached homes that sold. These homes range in price from $479,900 for a 3 bedroom, 2.5 bath, 1,600 square foot on Amy Way in the ??? tract. The highest priced home sold was for $4,350,000 for a 4 bedroom, 5.5 bath, 7,820 square foot estate San Jose street in Covenant Hills. The median priced home is $824,900 and the averaged priced home is $931,606. the average price per square foot is $320/SqFt and the average days on market is 81 days.

Comparing these home Sold statistics to the same 90 day period of time last year we find the following. 1 year ago, there were 83 homes that sold and closed escrow in the same 3 month period of time. The median priced home sold 12 months ago was $835,000 and the averaged priced home was $1,037,505. The average price per square foot was $359/SqFt and the average days on market was 81 days. Below is a table of the results.

Price	2007'	2008'	% Change
Median	835,000	824,900	-1.21%
Average	1,037,505	931,606	-10.21%
$/SqFt	359	320	-10.86%

As can be seen, prices have dropped about 10% in the past year in Ladera Ranch. This presents a very good buying opportunity for interest rates are still extremely low, and some properties in Ladera Ranch that are Bank owned REO's or pre-Foreclosures (Short Sales), can sometimes be purchased for 20% to even 30% less then what comparable homes were selling for about 2 years ago. For a list of bargain homes for sale, please visit our website at: www.OCBargainHomes.com

Luxury Home for Sale in Monarch Beach - Dana Point, CA.

Vincent Bindi — Sat, 09 Feb 2008 11:02:42 -0800

This completely remodeled single level estate home is located in the exclusive subdivision of Monarch Bay Terrace in Monarch Beach. The contemporary Mediterranean styled estate boasts of a panoramic view of the pacific ocean, Catalina Island and City Lights. This property consists of 3 bedrooms, 3.5 baths, 3,166 square feet of living area, a 3 car garage and is situated on a spacious 17,500 square foot lot.

This estate property is located on Sea Island Dr. and the current asking price is $3,750,000 (subject to change). This luxurious home was completely remodeled. Each of the 3 bedrooms have a private bath plus a bonus rm. Spacious open floor plan, with generous use of natural stone and custom cabinetry throughout. Custom African mahogany garage doors and front gates adding immense curb appeal.

Monarch Beach is a prestigious enclave of expensive homes and condominiums located in northern coastal region of Dana Point, CA. There are currently 62 detached homes for sale in Monarch Beach ranging in price from $720,000 fora 3 bedroom, 3 bath, 1,544 patio home, up to $11,000,000 for a 4 bedroom, 4.5 bath, 3,701 square foot estate. the median priced home is $1,695,000 and the average price of these 62 homes is $2,130,531.

Monarch Beach is known for the 5 star resorts of the St. Regis and Ritz Carlton. Monarch Beach also boasts of one of the most beautiful beaches in southern California called Salt Creek Beach. Dana Point has some of the best climate in the nation, with average summer temperatures from 60 degrees F to 80 degrees F, and Winter temperatures of 45 degrees F to 70 degress F, and lots of sunshine.

To view all luxury properties currently listed for sale, please visit our website at: Dana Point Real Estate.

Ocean View Vacation Homes for Sale in San Clemente, CA.

Vincent Bindi — Mon, 28 Jan 2008 09:24:43 -0800

The condominiums in the Presidential Heights subdivision makes a great affordable vacation home. This tract is just 1.3 miles from the beach and many of the Condos here offer Ocean and Catalina Island views. The Condo currently for sale that is featured in this article is located on Avenida Baja.

This condominium comprises of 2 bedrooms, 1.5 baths and a 1 car attached garage, and the current asking price is $579,000 (subject to change). This home was built in 1973 and incorporates 1,190 square feet fo living area. It boasts of a sit-down 180 degree Panoramic Ocean and Catalina Island Views. The sunset view is also remarkable. This condo has some recent upgrades such as newer stove and micro wave in kitchen, as well as smooth ceilings and recessed lighting.

The subdivision of Presidential Heights was built in the early 1970's by Douglass Pacific. The tract consists of 358 condominiums comprising of 5 floor plans as follows:

Plan B - 2 bedrooms, 1.5 baths, 1,180 square feet, 1 car garage
Plan C - 2 bedrooms, 2 baths, 1,050 square feet, 2 car garage
Plan D - 3 bedrooms, 2 baths, 1,480 square feet, 2 car garage
Plan E - 3 bedrooms, 2.5 baths, 1,480 square feet, 2 car garage
Plan F - 3 bedrooms, 2.5 baths, 1,680 square feet, 2 car garage

The association includes a swimming pool. The streets that comprise of the President Heights tract are as follows: Avenida Acapulco, Avenida Adobe, Avenida Baja, Avenida Magdalena, Calle Bahia.

The city of San Clemente is located at the southern most portion of Orange County and is adjacent to the Pacific Ocean. San Clemente was incorporated in 1928 and now incorporates 17.6 square miles. It boasts of some of the best weather in America with 342 days f sunshine per year, and annual average temperatures of 70 degrees. With the beautiful beaches, hillside panoramic Ocean views, very low crime, perfect temperate weather, San Clemente makes a great location for a vacation home or condo.

If you would like to know more about Vacation home and condos for sale in San Clemente, please feel to call us at: 949-388-3396. Or you can visit our website which provides our Free VIP vacation home finder service at: www.OCJustListed.com

Baycrest South Estate for Sale, Newport Beach, CA.

Vincent Bindi — Fri, 25 Jan 2008 15:08:44 -0800

A beautiful 6 bedroom, 6.5 bath luxury home was recently placed on the market for sale in the upper $2 Million price range. This fine property is located in the Baycrest Newport Estates subdivision on Hampshire Circle. This home consists of 4,789 square feet of living area and is situated on a large 10,000 lot. This home was originally built in 1965, and has many fine renovations and upgrades since that time.

This craftsman property boasts of a private sparkling pool and soothing spa surrounded by a private courtyard, perfect for entertaining. Elegant formal living and dining rooms plus casual dining off the kitchen which looks out onto multiple family rooms one which is a Billiard room. There is an an office adjacent to the downstairs master bedroom with a partners desk plus a dedicated fax/ copier room storage. There are 4 bedrooms and 2 bathrooms on the second level over the main house plus additional guest quarters above the 3 car garage. The guest quarters include a bedroom 1.5 bathrooms a gym/sitting room. Floor to ceiling windows in the downstairs lets in maximum light Great location on one of the best streets in Baycrest.

Baycrest South was developed in the early to mid 1960's by Lyons and Cashion. The orginal development consisted of three expansive floor plans as follows: Plan 2 - 4 bedrooms, 3 baths, 2,445 square feet, Plan 3 - 4 bedrooms, 3 baths, 2,557 square feet, Plan 5 - 5 bedrooms, 3.5 baths, 3,210 square feet. Each model caem with a 3 car garage, and since that time, many of the homes in this fine community have been expanded and added onto. The streets that comprise of Baycrest Newport Estates are: Santiago Dr., Antigua Way and Hampshire Circle. This subdivision is located in the Dover Shores area of Newport Beach, and is adjacent to the Upper Newport Bay Eco Reserve.

For the current asking price of the above featured home, or to view any home listed for sale in Newport Beach, please feel free to call us at: 949-388-3396, or email us at: Info@OCRealtyGroup.com or Text Message at: 949-283-4679 This featured home is Listed by Keith Randle of Coldwell Banker Previews International