Newport Beach Real Estate Blog

Newport Coast Real Estate – Median Price Statistics for Zip Code, 92657

by Michael Salas on May 7, 2010


Here is the recent real estate activity showing the Median Price for Newport Coast, CA, 92657.

To see more statistics, better yet, to get them delivered weekly, click on this link and sign up today!

The definition of the Median Price is the price of the house that falls in the middle of the total number of homes for sale in that area.

The Median price of 101 sold homes would be the price which is lower than 50 of the prices and also higher than 50 of them. Do not confuse this term with average.  The difference between average and median can be quite different. For example, if you are looking at a “sold” market analysis and the homes are evenly distributed, the median and average might be similar. But, if the homes sold were more to one end of the price range, then the median and average could be different.

Let me know what you think the local Newport Coast Real Estate market is doing…post a comment and get the conversation started.

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CA Governor Signs Home Tax Credit Bill

by Michael Salas on March 25, 2010


Great news for California home buyers!

Governor Schwarzenegger today signed AB 183 providing $200 million for home buyer tax credits. The bill allocates $100 million for qualified first-time home buyers who purchase existing homes and $100 million for purchasers of new, or previously unoccupied, homes.

Eligible taxpayers who close escrow on qualified principal residences between May 1, 2010 and December, 31, 2010, or who close escrow on a qualified principal residence on and after December 31, 2010 and before August 1, 2011, pursuant to an enforceable contract executed on or before December 31, 2010, will be able to take the allowed tax credit.

This credit is equal to the lesser of 5 percent of the purchase price or $10,000, taken in equal installments over three consecutive years. Under the bill, purchasers will be required to live in the home as their principal residence for at least two years or forfeit the credit (i.e. repay it to the state). Buyers also must be at least 18 years old and be unrelated to the seller. First-time buyers are defined as those who have not owned a home in the past three years.

To learn more about the California Home Buyer Tax Credit, click here.

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4.75% Jumbo Loan Making Luxury Homes More Affordable

March 25, 2010

I just learned about a new and exciting 4.75% Jumbo loan interest rate program today. Do you want a lower rate? Pay one point and the rate falls to 4.25% I know a few people who are sitting on the fence, because of the Jumbo rates. Maybe it’s time to think about taking action! With [...]

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Newport Beach Real Estate – Market Statistics for Zip Code, 92660

March 12, 2010

Here is recent market activity showing the Median Price for Newport Beach, 92660. To see more market statistics, better yet, to get them delivered weekly, click on this link and sign up today! The definition of the Median Price is the price of the house that falls in the middle of the total number of [...]

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Newport Coast & Crystal Cove Real Estate – 2009 Market Statistics

January 11, 2010

How’s the market in Newport Coast and Crystal Cove? Here is the data from 1/1/2009 – 1/10/2010: Newport Coast Active Listings: 61 Average Days on Market: 162 Average Listing Price: $1,019.60 (Sq. ft.) Pending Sales: 11 Sold: 112 Average Days on Market: 151 Average Selling Price: $647.77 (Sq. ft.) Check out homes for sale in [...]

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Newport Beach Real Estate – Time to Buy?

November 18, 2009

Is it time to buy? Today, on the front page of the LA Times, “Southern California home prices edge upward again in October,” would suggest maybe the time is now to pull out the checkbook. Or at least, kick the tires a little harder. Timing is everything. Combined with the federal tax incentives for first-time [...]

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Newport Beach Real Estate ~ Homes for Sale on Linda Isle

March 8, 2009

A recent post about Linda Isle home prices holding steady has brought a few inquires about how to see homes for sale on Linda Isle. For folks from out-of-town, or locals who are just now learning about this beautiful area of Newport Beach, Linda Isle homes for sale are a little more difficult to see [...]

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Newport Beach Real Estate – Full Disclosure

March 4, 2009

Some people, when selling, have a difficult time telling the truth about their home. They are afraid if they disclose negative items, they will scare the buyer away or somehow, hurt the deal.  When I represent a seller, I urge full disclosure about everything using the required California Transfer Disclosure Statement (TDS). It’s better to [...]

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Crystal Cove Real Estate ~ Crystal Cove Home on Auction Block

February 13, 2009

A dose of reality is being given to luxury home sellers in Crystal Cove. 39 South Sur is going on the auction block. The minimum bid is $4,950,000. Not too long ago, this former model home, was on the market for $7,475,000. I’m told a couple of offers have come in to purchase it before [...]

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Newport Beach Real Estate – Weekend Mortgage Rates Update

January 31, 2009

Welcome to the Newport Beach Real Estate Weekend Mortgage Rates News Update. My aim is to bring you the most current mortgage rates for your weekend house hunting and decision making. One of the great things about being a Coldwell Banker real estate agent, is having working relationships with great companies and, of course, the [...]

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