Short Sale Snoop will be a regular feature on BixbyBlog.com. I’ll relate insider stories detailing the ins-and-outs of real short sales with all their wacky complexity. Stay tuned this week. You just might learn something. Like, you never want to short sale if you don’t have to, for instance.
16 Bay Island is one of those properties that doesn’t come around often. It is one of just 23 homes on Newport Harbor’s most exclusive island, a former gun club established in 1903 when birding was more popular than boating. Bay Island sits around the bend from prestigious Newport Harbor Yacht Club. The home captures the early California beach cottage era, but could easily be at home back east with its traditional shingled-style and vintage touches, like rowing skull oars for staircase handrails.
The home was featured in the August 2007 edition of California Homes Magazine. Interior designer Sue McKeehan transformed this 1915 home into one of Newport’s finest. Gracing the shores of Bay Island, the home features spectacular vistas of Newport Harbor’s main turning basin, all of its boating activity and, in winter, the snow-capped San Bernardino mountains. Residents here commonly own a tennis court, wide sandy beach, and lush mature botanical & cutting gardens. The home’s private pier and slip for a large boat and side-tie scream for a classic Chris-Craft.
A foolish buyer would tear down this treasure and build a monster. With luck that won’t happen. Whomever takes over this property should cherish this rare combination of classic architecture, a premier and exclusive location, and a wonderful history to pass on to the next generation.
Price and details available on request. To inquire click here. This Rad Pad is listed by Steve High and Evan Corkett.
Brown Issues Warning about Rise of Short Sale Fraud
LOS ANGELES – Attorney General Edmund G. Brown Jr. today joined the California Department of Real Estate and the State Bar of California to warn homeowners about an alarming rise in short sale fraud across California in a field “rife with scam artists”.
A short sale is an arrangement in which a homeowner sells his or her home for less than the outstanding mortgage, with the consent of the lender.
”While short sales can provide homeowners with a last-ditch alternative to foreclosure, this market is rife with scam artists,” Brown said. “Homeowners and buyers, agents, and lenders should beware of short sale negotiators who operate without licenses, use straw buyers or charge illegal fees.”
Continue reading “Brown Issues Warning about Rise of Short Sale Fraud”
Rad Pads is the Post for those who appreciate that little extra something that makes a home unique. I might select a property for any of the following reasons:
- Inspired architecture
- Spectacular siting
- A one-of-a-kind lot
- Inventive use of materials
- Creative design
- Historic appeal
- An enlightened vista
- A surprising yard or garden.
My Rad Pad choice might be a combination of these or other attributes. Posts will be made approximately monthly, as I intend to be selective. It will NOT be–in most cases–one of my own listings. After all, you will be the ultimate judge as to whether or not my choice is worthy of the Rad Pad title. Stay tuned for Rad Pad number one.
A common refrain I hear from Newport Beach residents goes something like this, “That neighbor is killing my property value with their BLANK (insert eccentric detail here, with expletive).” Maybe so. But I doubt it. The Realtor who fails to notice the upside in these BLANK situations loses out for himself, and for his client.
Take, for example, the sailboat being refurbished in the side yard or the large motorhome that is visible from the street. If I have the listing next door (or possibly, the “offending” home) I promote the following:
- NO design and review committee to shoot down your dream remodel
- NO restrictive homeowner’s association with high associations
- NO surprise assessments for upkeep
- NO lawsuits that affect entire HOA
- NO worries about the bounce house for your kid’s birthday party
- NO guest pass for visitors to park in front of your home
- NO hassle of calling the gate for every last delivery or repairman.
Or, how about the funky building that doesn’t “fit” within the neighborhood? Take, for example, the famous Bubblegum Alley in downtown San Luis Obispo. To some this is a disgusting place full of germs. But for many, this is what makes SLO special. It’s unique. It draws traffic. It shows character. My kids love this place. It’s a marketer’s dream that brings shoppers downtown, lures families with kids, and is a favorite stop for students.
For every oddity, there is appeal. A good Realtor will find that audience and bring them to the table.