Coastal Real Estate Guide March 24, 2017 : Page 2

2 COASTALREALESTATEGUIDEOC.COM MARCH 24, 2017 CONTINUED FROM PAGE 1 : ONE ON ONE Interest Only Same Day Approval Private Real Estate Loans SAVE YOUR ESCROW • Buy Before You Sell • Probate • BK • Foreign Borrower • Fix+Flip • Construction • 1031 Exchange uncertainty of who would win the election that made hesitation in the high-end market. Now with a new administration in office, a lot of pent up demand is now manifesting. Especially with the market as bullish as it is, people feel more confident and willing to buy. Q: Do you see indicators of a slowdown? A: Real estate always corrects itself from the bottom up. The healthier the bottom market in-dicates a healthier upper market. Take a look at the real estate under $1 million, it is as good as it has ever been. There are multiple offers from properties that immediately are listed. People learn very quickly they have to be more aggressive on their quotes. A good property lists at about $750,000 -$1 million. People are now over-bidding that amount. It just shows how the demand for properties under a million has taken off and inventory is now low. Homes over $1.5 million and over is obviously not selling at the same pace. Q: So prices are going up? A: They are moving up again, but responsibly. Again, lenders are making sure the buyers have the means to payback the loan. This time around, the underwriting is very thorough. This is reflected in the distressed market where only 2.5% is distressed (anything lender owned or short-sales) and 97.5% is all equity sales, a big turn-around from four or five years ago. There are no distress properties in New-port Beach or Newport Coast. Q: Why do you think 2016 was the fastest-selling year for hous-ing since 2006? A: We are almost back to 2006 prices and high demand. It took 10 years to rebuild all the equity that was lost in the housing crises and get to this point again. I just came back from a meeting in the desert where they talked about the rise in consumer confidence and how the real estate market will continue to become healthier. The economists in California say the market will continue to improve until 2019 and this is great news. CONTACT INFORMATION Spyro Kemble Sureterre Properties 1400 Newport Center Drive, Suite 100 Newport Beach, CA 92660 949.689.8377 T (949) 887-7392 BRANDON SIMON (949) 386-1159 PAUL WIRTH WHEN BANKS SAY “NO” WE SAY “YES”! Port Streets Newport Beach • $535,000 • Late Stage Construction Loan • 2nd Trust Deed • 12 Month Term • Approved in One Day Turtle Ridge Irvine • $900,000 • Refi nance • 1st Trust Deed • 12 Month Term • Approved in One Day Short Term Loans from $200,000 -$5 Million Interested in Investing? Call Bob Eakin (949) 622-6199 2725 W Coast Hwy. | Newport Beach, CA 92663 ON-SITE CONCIERGE SERVICES FIVE RESORT ST YLE POOLS WALKABLE TO FASHION ISL AND NOW LEASING AT SAN JO A QUIN AND JAMBOREE 855 338 2807 VILL ASFAS HIO N IS L A N D . C O M IRVINE 4382_68 BRIAN S. COASTAL REAL ESTATE GUIDE 4/COLOR

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