Best of Laguna Beach Broker Preview: September 14th
A wonderful and unusually large backyard at 1275 Cerritos
Hello, and welcome to this week’s choice home on the Laguna Beach Broker Preview list: 1275 Cerritos. Why? There’s several reasons why this home stood out to me this week:
- It’s a nice, large home that’s been recently remodeled.
- It’s in the village, a very desirable location
- Walking distance to downtown and the beach
- The price per square foot is only $431, way below average Laguna prices
- The house is on a larger lot with a flat, grassy backyard
Here’s what the MLS has to say: this is the best value in Laguna Beach! Totally remodeled, this 3,000 square foot home boasts three bedrooms, 3.5 baths, gourmet kitchen, large living room, dining room, two fireplaces and family room. Only the best materials have been used. Granite countertops, travertine floors, stainless steel appliances and much more. The large backyard could accommodate a pool, and there are views of the ocean as well as amazing views of the hills and canyons. The home has been professionally landscaped. Priced to sell!
It is listed for just $1,295,000—truly, a real value for our beautiful beach community. Would you like to walk through it? Just give me a call and I will arrange an appointment: (949) 547-1860.
Elegant dining room
Great curb appeal
Expansive family room
Living room with fireplace
Ocean views
Best of Broker Preview: 641 Loretta Drive, Laguna Beach
Beautiful landscaping on this modern Tuscan villa.
This week’s Broker Preview definitely had a clear winner in the “best” category, in my opinion. And why do I give 641 Loretta Drive this prestigious title? My top five reasons follow:
- This home is of fairly new construction and utilizes the highest quality materials and appointments
- Incredible unobstructed ocean views down the southern coast towards Dana Point, plus Catalina Island views
- Located at the end of a cul-de-sac
- Oversized chef’s kitchen with Viking and Sub-Zero appliances
- Large, luxurious master bathroom
Now here’s the full details from the MLS listing:
Perched above the famed Montage Laguna Beach Resort and Spa, this 2009 contemporary Tuscan home exudes old-world charm with shots of modern luxury. Warm salty breezes and sweeping white-water, ocean and coastal views are brought to you with glamorous walls of glass that open for seamless indoor/outdoor entertaining. Designed for the serious cook, the state-of-the-art kitchen boasts custom mahogany cabinetry flanking Sub-Zero and Viking appliances as well as panoramic blue water views from a breathtaking wall of windows. Rejuvenate in your own master spa bath with two rain shower heads, three body sprays, hand-held and steam, or simply relax in ceiling-filled, jetted soaking tub. From the French limestone flooring to the reclaimed wood beams, this four bedroom, one office and 3.5 bath villa is your own private resort.
It is listed for just $2,695,000. Would you like to walk through it? Just give me a call and I will arrange an appointment: (949) 547-1860.
Stunning coastal and Catalina Island views.
Glamorous spa-style master bathroom.
A kitchen designed for the gourmet chef in you.
Four-Bedroom Family Home in Laguna Village
Front yard and driveway of 533 Brooks
Don’t miss walking through this wonderful home—properties like these are very rare in Laguna Beach.
Why? You might think that there’s a lot of four-bedroom homes in Laguna to choose from. But right now, there’s only two like this for sale in the coveted “Village” area.
That means that, in addition to all of the amenities of the home (which we’ll get to later), this home’s location gives it many advantages to families. First of all, you’re only three blocks to the beach, and two blocks from Laguna’s HIP District, which is known as the “local’s downtown” area, especially when it’s crowded in the summer.
Orange County Deals for You!
Steve Martin in Orange County!
This week we wanted to focus on you, our loyal readers, and give something back. We may be doing this more often, so check back frequently, and post a comment when you see something you like!
With the economy in a sad state, the stock market going up and down faster than a yo-yo and housing prices at a standstill, we all need a deal, right? Well here’s a few good ones we’ve found recently. And don’t delay—these deals don’t last!
What’s Going To Happen With Fannie Mae and Freddie Mac?
Good or bad?
Everyone’s talking about the housing crisis and the mortgage finance system these days and, as usual, everyone’s got their own opinion. As a realtor, you can imagine how many times people bend my ear about this and other real estate questions recently. Oh yes, it’s a lot.
So, with all of the legislative and regulatory proposals on the table at the moment, what on earth are the experts saying about all this? Is there some reason to rise above all the gossip and mere opinion? In a word, yes. Here is the rundown from a panel of experts interviewed by California Real Estate magazine:
1. Should we preserve the mortgage interest deduction or focus on mortgage market reform? Ideally, we should do both, but it’s understandable why mortgage market reform is high on the agenda. To paraphrase Joel Singer, CEO of the California Association of REALTORS®, if there aren’t the funds to get the mortgages, no one will be able to purchase homes, which makes the mortgage interest deduction issue kind of a moot point. Yes, it’s a great incentive for people to invest in homeownership over renting, but if we can’t fix a seriously damaged mortgage market, it’s unlikely that we will get out of this housing slump.
Coyote Watch! Please Protect Your Pets
Laguna Beach is as close to paradise as you can get in California—perfect weather, beautiful beaches and a great community. Unfortunately sometimes it’s not all paradise out here in Laguna Beach and we do encounter issues, and as a community it is our duty to help each other out.
Recently, Laguna Beach has been dealing with an issue of unwanted intruders—no, we’re not talking about the summer tourists, but of the increasing coyote population problem in our town! Coyotes are running rampant and have become increasingly bolder, fearlessly wandering around during daylight and even jumping 5-foot walls into backyards to kill pets. Last May, a coyote bit a woman on her hand as she tried to protect her dog, and just last Tuesday a coyote snatched and killed a poor Yorkshire terrier right from her leash.
Jumbo Mortgages to Expire Soon!
Anyone who is interested in taking out a $700,000 mortgage should act soon. Rates on jumbo mortgages, loans that exceed the normal loan limits, will soon be expiring this upcoming fall, dropping down to $625,500 in the highest priced markets. Jumbo mortgages were instated three years ago in 2008 when former President George W. Bush passed the Housing and Economic Recovery Act of 2008, in which the conforming loan limits were temporarily raised in hopes that the provision would accelerate the housing market. These high-limit mortgages became especially beneficial to buyers in expensive and luxury housing markets such as those commonly found in Southern California.
Meet One of Our Colleagues: Mortgage Broker Rick Cirelli
This week, I welcome Rick Cirelli, one of my most trusted colleagues in the industry. Rick has been a mortgage broker for over 35 years, so needless to say he’s a bit of an expert in the real estate realm. Whenever I have any questions dealing with lending issues, Rick is my go-to source. In Rick’s latest e-blast, he discusses what’s wrong with the tight underwriting guidelines, and what he thinks the government should do to help homeowners and homebuyers. Here’s what Rick had to say:
Laguna Beach’s Pageant of the Masters is Back!
It’s that time of year again—Laguna Beach’s proudest display of art, the Pageant of the Masters, returns again for its 79th year in the running. The Pageant of the Masters is a one-of-a-kind production that celebrates “living pictures”, or tableaux vivant, where people transform classic works of art into real-life, 3-D displays. This year’s theme is “Only Make Believe”, which will explore the fantasy and magical realms populated by “modern superheroes and strange, mythical creatures”. “Only Make Believe” will venture into the world of dreams and imagination, and the local artists have come together to produce a show that encompasses everything from fairytales to futuristic visions. Fantasy and fun will be abundant for everybody.
Reverse Mortgage News
Two of the biggest lenders for reverse mortgages in the housing market, Bank of America and Wells Fargo, have both pulled out and are no longer providing reverse mortgages to consumers. The two banks accounted for 43% of reverse-mortgage business, and with them out of the industry, borrowers will now have more trouble obtaining a mortgage.
