From Our Blog

Remember that Newport Beach housing inventory that hit the market in the first week of January 2015?

Well, a lot of it is already gone. At least, the good ones!

Much of that can be credited to sellers pricing their homes accordingly but let’s not forget that this is a buyer’s market. Buying smart with an educated local professional plays a huge part too!

So far this year, we have seen homes in Newport Shores, West Newport, Corona Del Mar, Peninsula Point and Lido Island go on the market and into escrow within a week of listing. Everything from new construction to remodels to development opportunities have come and gone.

Combine that knowledge with the banks loosening their lending standards (and rates remaining consistently low), this trend should

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As we head out of the “holiday” real estate doldrums, things are looking very promising for home sales in 2015.

So far, there have been more homes listed in Newport Beach thru Jan. 7 than there were the past 4 weeks.

Hello inventory!

These include two brand new listings of our own…a prime Oceanfront property in West Newport and a brand new home in the heart of Peninsula Point.

If you’re in the market for a new place to lay your head, give us a call.

As always, the good ones go fast and no one knows Newport like we do! #WeAreNewport

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All proceeds from ticket sales, raffles and auction items will go directly to providing Water Filling Stations, Reusable Water Bottles and Recycling Programs in our local Newport Beach schools. 

When: December 17th, 6:00-9:00pm

Where: The Arbor Factory

How much: $25/pp covers food and drinks (ticket link below!)

*Kids 12 and under are free!

There will be music, raffles and a live auction.

Food compliments of Daphne’s California Greek and Fresh Brothers Pizza.

Buy Tickets here---> https://www.eventbrite.com/e/arbor-rob-machado-holiday-fundraiser-tickets-14614633763

We hope you can join us for this awesome event!

Additional Info: info@arbor-re.com


 

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It’s not all fun, games and food on our blog so we have decided to provide a monthly snapshot of the real estate market in our local community.

Here goes…

The median home value in Newport Beach is $1,305,700. The median list price per square foot in Newport Beach is $823, which is higher than the Los Angeles Metro average of $345. The median price of homes currently listed in Newport Beach is $1,795,000 while the median price of homes that sold is $1,618,750. The median rent price in Newport Beach is $3,100, which is higher than the Los Angeles Metro median of $2,195.

Inventories are currently pretty low, which, is normal this time of year. For those homes currently on the market, it seems too many sellers are pricing them above median and/or comp values

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It’s an annual dilemma and in a child’s mind, quite possibly, the single greatest question on Halloween night.

What are they passing out? Newport Beach neighborhoods are surveyed. Posses formed. Routes planned. And when they finally arrive at your doorstep, do you want to be “the” house or “that” house? As a public service, we submit the following recommendations…

How to ensure “the” house street-cred remains intact:

1. Keep it simple- Brand name candy and you’ll pass the test.
2. Go Big- Doling out full-size anything gets your home beamed across the neighborhood. Be on the lookout for repeat treaters.
3. Go Old School- Rarely seen brands that evoke a “woh!” from the parents…ie. Zotz, Wax Bottles, Atomic Fireballs
4. Pay Em Off: Cash talks business.

How

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Since the introduction of Pumpkin Spiced Lattes, brands everywhere have been clamoring to replicate the success and flavor of this seasonal concoction.

The next BIG thing has gotta be Pumpkin Spice Homes, right?

Think about it…it’s already made its way into our cupboards and partially to our homes via candles and room fresheners. You know it’s not far off so I have a few suggestions:

1. Paint- Just imagine every wall covered in Pumpkin Spice yumminess. It’s like you were dropped into a Starbucks and the walls were baristas minus the hipster jargon.
2. Household Cleaners- I mean, there’d be a reason to finally clean that mess up in your room!
3. Floors- How about a soft billowy wood floor that replicates walking on a creamy foam ball with a pungent aroma

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I’m not sure if this is an admission or a confession but… I binge-watched a “reality” real estate show last night. 3 episodes worth and I’m not gonna lie…I feel dirty. Not dirty dirty but train wreck dirty. I couldn’t take my eyes off it! It was like watching everything that isn’t remotely accurate about this profession we call “Real Estate” flash in front of my eyes…and I feel cheated.

Let’s see…”realtor guy” shows 3 totally different homes to a completely affable couple who can’t decide on what home they like because…they are ALL COMPLETELY DIFFERENT. How is it possible that said couple had a budget of $2.5million and were interested in a city loft/townhouse, a small waterfront abode AND an larger, eclectic home in an “artsy” part of town? Truth is…they…
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What’s this? A city project under budget AND on schedule? It’s getting real in Newport Beach these days…

After years of debate, public forums, threatened lawsuits, and just plain old chicanery, it was recently announced that the Marina Park project on the Balboa Peninsula is not only on schedule for a Spring 2016 opening but came under budget by $1.2million! If you think about all the public works projects that go the wrong way, this is actually heading in a positive direction. Now, what does this all mean for the people of Newport?

Well, initially, it means our local city planners, public works department and the construction crews have done their job so far. And that, is a breathe of fresh offshore wind. But if you look at the overall plan, it also

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It’s a little known season often hidden from those beyond Newport Beach boundaries. But believe me, it is real.

Right after Labor Day as the tourists retreat and the kiddies flock back to school, there she is…Newport Summer.
It’s an annual ritual as September and October are THE months for locals. Perfect weather, smaller crowds, less traffic and of course, wide-open sand and surf.

People ask me all the time how I deal with the traditional “Summer” invasion (June-August) and my reply is “Newport Summer is coming”.

It is, in my biased opinion, the sacrifice that makes all the craziness worth it.

Ironically, a ton of real estate deals are closed during these months because the appeal of our great city shines brightest. And that too, may be the reason for my

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There was an article published recently about what $600,000 can buy you in Orange County these days. Basically, the article surmised that your dollar just isn’t going as far as it used to. With homes prices creeping up and more people renting, it really does raise some interesting points but, most important to me, is there any value out there anymore?

In the traditional sense, the value of an item is what price it would fetch in a competitive market. It’s simple supply and demand stuff. Pay attention here, kids. These days it’s a little different. Market price can be vastly changed by others placement of value on certain products or in our case, homes. Somewhere my old Econ 101 professor just fell over (can’t even recall who it was) and my dad’s jaw just

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