Newport Beach, CA Real Estate News

By Tim Lorenz, 949 874-2247
(TIM LORENZ - Elite Home Sales Team)
Newport Beach's Joe's Crab Shack  whos owner was Danny Pang was auctioned Wednesday morning for 7.3 million.  Thus ended the latest chapter in the saga of the late Danny Pang, who bought the restaurant and other properties in what may have been a Ponzi scheme. The owner of a property in Newport Beach on Newport Bay was up for action and the owner Danny Pang and his wife are linked to a scandal.   The property is Joe's Crab Shack site it was assessed at 12.9 million. The sale of properties formerly owned by Pang or his firm is the latest development in the SEC action that alleged that the Irvine based investment manager of cheating investors out of $823 million.  The SEC was able to freeze all of Pang's assets.  The estate was turned over to a receiver who will try to turn the assets int...
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By Mary Campbell
(Abrams Coastal Properties)
I subscribe to a wonderful Real Estate Market Update Report for Newport Beach that gives me information on the real estate market in Newport Beach or any city I desire.  I receive it weekly. My website and Blog visitors can also receive this report free, by just simply filling out the form below and it will come to your email weekly or monthly, you decide. Some of the information you will receive with this Real Estate Market Update Report are things like: Median list price in Corona Del Mar-$2,495,000   Average list price- $3,661,55 Median list price in Newport Beach-$1,992,500   Average list price- $2,813,759 Median list price in Newport Coast- $3,495,000   Average list price- $4,902,388 You can also see the supply and demand by zip code and If you are thinking of selling your Newport ...
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AVOID FORECLOSURE, ALLOW A CERTIFIED DISTRESS PROPERTY EXPERT REAL ESTATE AGENT TO HELP EVALUATE YOUR OPTIONS •    Are You Going To Fall Behind Your Mortgage Payment?   •   •    Have You Received A Certified Letter From Your Lender or Servicer?    • •    Are You Going Through Any Hardship Situation That Is Contributing To Miss Your Mortgage Payment?    •      •    Are You In Pre-Foreclosure or Foreclosure Procedures?    • •    Have You Received Correspondence Of Notice Of Default?    •     •    Is Your Company Relocating You Or You Need To Relocate?    •    •    Not Enough Equity To Refinance or Sell?    • No matter what your current situation is, my team and I are ready to help you overcome even the toughest situation. Let's work together to analyze your current financial condition, pr...
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By Kaaren Hall, You can invest in real estate using your IRA!
(uDirect IRA Services, LLC)
What is a Self-Directed IRA and how can you use one to purchase real estate? Join expert business coach, Larry Gassin, as he interviews Kaaren Hall, president of uDirect IRA Services. Go to this webiste - http://www.justaskkaaren.com/ - and enter your question then listen to the live interview Monday December 14th at 4:00pm PST. http://www.justaskkaaren.com/
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Yesterday December 6, 2009 was a busy day in Newport Beach and Corona Del Mar. We had the Balboa Island Christmas Tree Lighting and the Corona Del Mar Christmas Walk. I started my morning attending Mariners Church and then my husband and I went to Balboa Island for lunch. We also stopped by to visit our daughter, she works at Magnolia Charlies, a kids clothing store on Balboa Island that has darling things. The main purpose of our visit to Balboa Island was to see the Christmas Tree Lighting but we were a bit early. The shops were open and Christmas shoppers were out. The Island was starting to get ready for the event and the snow had been delivered. We have our snow delivered by truck, mother nature doesn't help out here, but I'm glad because I love warm weather. Just as we were finish...
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By Christine Donovan, Broker/Attorney 714-319-9751 DRE01267479 - Costa M
(Donovan Blatt Realty)
Newport Beach Boat Parade 2009   It's time to get ready for the holidays, and one of my favorite traditions is the Newport Beach Christmas Boat Parade.  Like so many other years, we will bundle up, and take a short trek out to the Bay to watch this wonderful holiday custom while drinking hot chocolate and enjoying the amazing place I call home. The parade includes everything from huge decorated multi-million dollar yachts to small kayaks and canoes with music and people celebrating the holidays both onboard the boats and lining the shores. The 101st Newport Beach Christmas Boat Parade runs from December 16th to December 20th, 2009. It starts off Bay Island at 6:30 pm and finishes at the same place at about 9:00 pm.  Click the link for the Newport Beach Boat parade route. You don't want ...
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By Mary Campbell
(Abrams Coastal Properties)
With today’s real estate market many sellers are wondering whether they should sell or not. My opinion is….It depends! If you are testing the market BIG MISTAKE! It’s a great time to sell your home: If you have equity, If you are being relocated for a job, If your family is growing or shrinking, If you are moving up to a bigger or better home, If you fall in love with a house you have to have and you can afford it! Keep in mind that if you are going to put your home on the market you have to price it aggressively. Buyers do not want to over pay for anything these days; even in Newport Beach they want a bargain. We all think out homes are better than our neighbors but often they are not. Have a neutral person like a Realtor help you with the price. I like to price my listings just under ...
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By Sharon Paxson, Newport Beach Real Estate
(Compass)
Newport Shores Holiday Home Tour December 6, 2009 2:00 pm to 5:00 pm The Newport Shores Community in Newport Beach will be having their annual Newport Shores Holiday Home Tour this coming Sunday from 2-5 pm. It is a a great opportunity to meet your neighbors and friends, and tour the lovely homes in Newport Shores which have been decorated for the Christmas Holiday. The proceeds from the Holiday Home Tour proceeds are utilized to provide holiday gifts for the military troops who are stationed in Iraq. Tickets for this event are tax deductible. If you purchase the tickets by noon on Thursday, December 3rd, the cost will be $15. Tickets purchased on the day of the event are $20 and can be purchased at 358 62nd Street. It is a fun event, and I have participated in the past by hosting my ho...
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By Sharon Paxson, Newport Beach Real Estate
(Compass)
Balboa Island Holiday Home Tour The Balboa Island Holiday Home Tour is going to be held: Sunday, December 13, 2009From 11:00 am to 4:00 pm The Balboa Island Home Tour is an annual event and an opportunity to visit and tour some very beautiful homes on Balboa Island in Newport Beach. This is another holiday event to be enjoyed in Newport Beach. Other holiday events coming up are the Newport Beach Parade of Lights, and the 31st Corona del Mar Annual Christmas Walk. The homes on Balboa Island will be decorated with the holidays in mind. Refreshements will also be served at some the stores located on Marine Avenue. It is a great opportunity to get out and enjoy the holiday spirit with friends and family. Tickets are required for this event, and may be obtained from the following establishme...
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By Sharon Paxson, Newport Beach Real Estate
(Compass)
101st Newport Beach Parade of Lights The Newport Beach Parade of Lights will be held: December 16 – 20, 2009 The parade begins at Bay Island in Newport Beach at 6:30 pm, and finishes in the same area at approximately 9:00 pm. The parade route is here. Newport Beach has so many holiday events to enjoy. There is the Balboa Island Home tour, the Corona del Mar 31st Annual Christmas Walk , and of course the Annual Christmas Tree Lighting at Fashion Island which was on November 20 – 21, 2009. The Newport Beach Parade of Lights is coming up soon, so come and join the viewers as you watch these incredibly decorated yachts and boats. Entrants even decorate their kayaks and canoes which is always fun to see. Some boat owners have spent more than $50,000 decorating their yacht for holiday event. ...
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By Mary Campbell
(Abrams Coastal Properties)
This week the median list price in the 92660 zip code of Newport Beach is $1,675,000. Inventory is decreasing in Newport Beach and homes are selling quicker than they were. One reason for inventory decreasing could be that this time of the year many sellers rather not sell. Some take their homes off the market and some wait until after the holidays to list. As far as homes selling quicker than they were, could be due to low pricing and record lows on interest rates. Remember, you also receive a tax credit if you buy a home now. Because home sales have been out selling the new inventory coming on, and If the demand continues, expect prices to continue to rise. That will mean good news to our economy, and to many who are out of work these days. Here is a thought for those of you who are g...
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By Mary Campbell
(Abrams Coastal Properties)
Christmas Balboa Island Style The Balboa Island Christmas walking tour will be on December 13, 2009 from 11:00 am-4:00pm. This will include a weekend of festivities on the Island. Balboa Island homes will be decorated for the holidays. You will be able to park your car, walk and view the interiors of these magnificent homes. Tickets are available at: Persimmon Tree Even Sisters Martha's Book Store The Gift Box Island Home Price for each ticket is $20.00 - RAIN OR SHINE For more information: Call 949-673-4280 Feel free to contact me for more information on Balboa Island!
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By Christine Donovan, Broker/Attorney 714-319-9751 DRE01267479 - Costa M
(Donovan Blatt Realty)
Newport Beach Real Estate News - Newport Beach Market Report Newport Beach real estate has come a long way since it began in 1906. Back then, bayfront houses sold for as little as $500. Today, homes in this area are priced in the millions of dollars as the area is considered prime, Pacific Coast property. Areas of Newport Beach include Corona Del Mar, Balboa Island, Lido, Newport Coast, San Joaquin Hills and Balboa Peninsula. For those looking for a home along Orange County's Gold Coast, Newport Beach real estate offers choices for a variety of homebuyers. Luxury homes on the sand, bayside estates with yacht slips, elegant town homes on the golf course are all possibilities in Newport Beach. The real estate market in Newport Beach is enhanced by a variety of environmental, recreational,...
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By Elite Home Sales Team, A Tenacious and Skilled Real Estate Team
(Elite Home Sales Team OC)
Bad things come to those who defraud people out of their money.  Danny Pang and his firm Private Equity Management Group, are accused of defrauding investors out of hundreds of millions of dollars. The owner of a property in Newport Beach on Newport Bay is up for action and the owner Danny Pang and his wife are linked to a scandal.   The property is Joe's Crab Shack site it was assessed at 12.9 million and there will be an auction on Dec. 9, 2009, for this property which is one of 12 properties linked to the late Danny Pang and his firm Private Equity Management Group, accused in a fraud scandal. The sale of properties formerly owned by Pang or his firm is the latest development in the SEC action that alleged that the Irvine based investment manager of cheating investors out of $823 mil...
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By Tim Lorenz, 949 874-2247
(TIM LORENZ - Elite Home Sales Team)
Nicolas Cage's home on the Balboa Peninsula built in 1913, cottage style did not sell.  Nicolas Cage tried to sell the home and dropped the price 3 times before he took it off the market because the home just did not sell.  The original price was 1.9 million. Nicholas Cage's trust paid 1.7 million for the home in December of 2006 the home was able to secure a renter instead of selling, because it just did not sell. The home is a 1500 sq ft one story cottage, just a few doors from the sand steps to the Newport Pier.  It is a 3 bedroom home that had been remodeled and had a granite kitchen and with maple cabinets.  Don't be too sad Nicholas Cage's home that was on Bay Shore Drive sold in January 2008 for $35 million.  Nicholas Cage is selling off many of the homes he had all around the wo...
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By Sharon Paxson, Newport Beach Real Estate
(Compass)
Newport Beach Top Ten Deals of the Week 11.21.2009 The Newport Top Committee met yesterday and reviewed price changes and new listings that are well priced for a specific area. We all concurred that many properties have had price adjustments in the past two weeks. The top ten best deals are standard sales or REO properties. We look at new listings, price adjustments, price per square foot and create a list of approximately ten properties to “make the list”. The following is the list of Newport’s Top Ten best deals: 441 Dahlia AvenueCorona del Mar, California Priced at $1,250,000 This home has a gourmet kitchen which will be appreciated by someone who enjoys spending time in the kitchen. One of the best priced condo’s in the Village on the south side of Coast Highway with an Ocean View. ...
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By Sharon Paxson, Newport Beach Real Estate
(Compass)
Annual Christmas Tree Lighting at Fashion Island in Newport BeachThe Newport Beach 2009 Annual Christmas Tree Lighting is going to be this weekend on November 20 – 21, 2009 at Fashion Island. This very popular holiday tradition to view the Fashion Island Tree Lighting is a wonderful opportunity to start off the holiday season. Here is a picture of last year’s Christmas Tree at Fashion Island as it was being set up. For a picture of last year's tree being set up, view the link at NewportBeachRealEstateCafe.com. The tree this year is not as tall due to the new location on the Atrium Lawn at Fashion Island in Newport Beach by Santa's House.The event will begin at 6pm tonight, or feel free to come and view the lighting ceremony tomorrow.If I can answer any questions, please contact me.Phone...
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By Sharon Paxson, Newport Beach Real Estate
(Compass)
But I Am a Real BirdNewport Shores is located in Newport Beach and is home to many creatures including racoons, skunks (bummer for my dog Patrick), possums, herons, seagulls, ducks, wood ducks to name a few. Pelicans visit the Newport Shores area in the winter and it is always a treat to see them. It is always a pleasant surprise when the swan comes to visit. She comes about once a year, and she is pretty tame, and will swim to you and enjoys eating bread. There was previously two swans, now there is only one but I always enjoy seeing her again. Yesterday morning, this beautiful swan was outside our deck, and my daughter was standing there with her bird which is a brown headed parrot sitting on her shoulder - affectionally named B Bird (ok – I know we are not that creative – but it work...
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By Christine Donovan, Broker/Attorney 714-319-9751 DRE01267479 - Costa M
(Donovan Blatt Realty)
Newport Beach Real Estate News - Newport Beach Market Report Newport Beach real estate has come a long way since it began in 1906. Back then, bayfront houses sold for as little as $500. Today, homes in this area are priced in the millions of dollars as the area is considered prime, Pacific Coast property. Areas of Newport Beach include Corona Del Mar, Balboa Island, Lido, Newport Coast, San Joaquin Hills and Balboa Peninsula. For those looking for a home along Orange County's Gold Coast, Newport Beach real estate offers choices for a variety of homebuyers. Luxury homes on the sand, bayside estates with yacht slips, elegant town homes on the golf course are all possibilities in Newport Beach. The real estate market in Newport Beach is enhanced by a variety of environmental, recreational,...
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By Carlos Morales
(Re/Max Homes and Estates)
When and why to do a Short Sale, Newport Beach CA Dear Friends, One more time I would like take a brief moment to tell you Thank you, thanks for all your kindly words and comments you gently leave in all my posts I want you to know that all the time I invest here is to provide you with a little knowledge so you are very prepared to take your real estate decisions.  When and why to do a Short Sale.   I'm very sure by now you have a pretty good idea about what is a short-sale or short-pay off (Both terms are the same).  But when to do it and why? Keep in mind that in a short-Sale the homeowner WILL NOT get any equity or money residuals from the sale of the property, so with this in mind a short-sale is not a business proposition. The sole purpose of a short-sale is to AVOID Foreclosure. I...
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