June 8, 2012 FRoM tHe PuBlisHeRs oF CoastalRealestateguideoC.CoM “Our Town-Our Paper” 1 Real estate guide coastalrealestateguideoc.com | Serving Laguna Beach & Newport Beach Communities June 8, 2012 | Vol. 2, issue 22 Coastal featured PrOPerty rider ranch Five acres, 6,000 square Feet, and What a View This one-of-a-kind ranch compound sits on a 5-acre site that borders the vast Aliso and Wood Canyon Wilderness Area, providing panoramic mountain, valley and ocean vistas. Two sizable structures offer opportunities for large family living, entertainment and alternative uses. The main residence boasts a three-level atrium entry that smoothly flows through multiple living areas. A large commercial-grade kitchen, including teppan dining, is the central focus of a sunlit floor plan. The dramatic dining room projects like a crow’s nest into open space. Five bedrooms, two offices, six baths, a gym, entertainment room and grotto make up the approximately 6,000 square feet of living space. Floor-to-ceiling glass reveals expansive decking and endless views to the Pacific Ocean. The separate barn structure allows multipurpose uses on a grand scale. In addition to the three-car garage in the main house, the barn presents five garages including a specialty RV garage, plus guest quarters, workshops, storage and ancillary spaces. Situated on the crest of a broad hilltop in Laguna Beach, secluded Rider Ranch is accessed by a private country drive. Address: 28782 Top of the World Drive, Laguna Beach Offering Price: $2,950,000 Agents: : Bill Rolfing, First Team Estates Contact Info: 949-689-4470; firstname.lastname@example.org One On One with Jack kudray the state of thelocal Housing Market There it was, the expansive Pacific with its blue waters sparkling in the sunshine as I drove down PCH past Crystal Cove several days ago. I could see a sailboat along the horizon and the whole scene instilled in me a sense of calm and inner peace and put a huge smile on my face. It happens every time. The whole stretch of road from Newport to Laguna has been one of my favorite places to drive ever since I first put my foot on a gas pedal. It was the memories of all my Highway 1 drives that kept me going when I found myself working several years deep in the heart of Dallas, Texas. Eventually I was able to get myself back home and swore I would never leave again. And though right now the market is pretty favorable in Dallas, our town here in the Southland continues tobe an incredible place to live. Just recently a friend of mine put me in touch with Jack Kudray. Both he and his wife, Kathy, are realtors and offer in-depth knowledge and local expertise in the housing market and the complexities of buying or selling a home. And, no pun intended, I felt right at home speaking with him and instantly gathered good tips and valuable real estate information. Q: What kind of real estate market are we in? A: We are in a seller’s market, since inventory is lower than normal for this time of year. But considering that we are also experiencing historically low interest rates, buyers are able to afford more. We are also finding that with limited inventory, buyers are often competing with other qualified shoppers for the same homes and are experiencing (frustrating) multiple offer situations. If their agents do their homework and write a “good” clean offer, they may have a better chance of getting the home that they are bidding on. Q: What should I consider before listing my home? A: That’s easy; 1) Select the right agent, 2) Check out the competition, 3) Make sure to price your home correctly, 4) Be sure your home shows it’s absolute best, and 5) Verify your broker/agent’s plan to market your home for the world to see it! Continued on Page 2 neW listings/HoMes in esCRoW-Closed • According to the MLS, the number of homes newly listed for sale in Newport Beach during the two-week period of 5/21-6/4 was 48 homes. •According to the MLS, the number of homes newly listed for sale in Laguna Beach during the two-week period of 5/21-6/4 was 37 homes. •According to the MLS, the number of homes that went into escrow and/or closed in Newport Beach for the two-week period of 5/21-6/4 was 54 homes. These homes were categorized in the MLS as “backup offers,” “pending sale,” or “closed sale.” •According to the MLS, the number of homes that went into escrow and/or closed in Laguna Beach for the two-week period of 5/21-6/4 was 27 homes. These homes were categorized in the MLS as “backup offers,” “pending sale,” or “closed sale.” •Of the 48 new homes on the market in Newport Beach, the highest priced property was listed at $9,000,000. The lowest priced property was listed at $286,200. •Of the 37 new homes on the market in Laguna Beach, the highest priced property was listed at $17,900,000. The lowest priced property was listed at $379,900. Below is a look at the number of homes identified in the MLS as being “short sale offer submitted,” “short sale/subject to lender approval,” “in the foreclosure process,” “notice of default,” “REO/Lender-owned,” or “REO Offer(s) submitted,” currently either active listings, accepting backup offers or pending sales: Newport Beach: 107 homes in the above categories. Laguna Beach: 47 homes in the above categories.