Newport Beach Real Estate - Irvine Real Estate
Newport Beach Real Estate - Irvine Real Estate
From my family to yours we thank you for choosing our team as your real estate team.
The "Art of Caring" starts with our commitment to our mission, vision, and values. Born in Orange County, but raised with Midwest values, we are determined to succeed with kindness and compassion.
- Steven Lockhart
The coastal heart of Orange County, the communities of Newport Beach, Laguna Beach, and Irvine are uniquely different than the rest of Orange County. Arts, music, and culture make the central coast its own bubble. Our beaches are gorgeous, there are endless amounts of outdoor activities, food selection is diverse, world-class shopping, location, location, location, and, of course, the weather is always perfect. In this real estate market, we are the preferred realtor for home sales.
We specialize in marketing great homes. Whether your house is in Newport Beach (Port Streets, Big Canyon, Corona Del Mar, Balboa Island, Eastbluff, the Penninsula), or is inland just a bit in Irvine (Turtle Ridge, Turtle Rock, Woodbridge, Northwoods, West Park, or Shady Canyon), or down in Laguna Beach (South Laguna Beach, North Laguna Beach, The Village, Laguna Canyon - we have the expertise and passion to serve you.
When you think of luxury, high end, and expensive real estate home sales in Orange County, Newport Beach is often the first city to come to mind. The city is diverse with the beach front community of Corona Del Mar, the gated communities of Newport Coast, the vibrant Balboa Peninsula, iconic Balboa Island, family friendly Eastbluff and the Port Streets. Beyond the personalized touch of our Real Estate Agents and the beautiful properties we sell - TriVista delivers a lifestyle, which is uniquely Newport.
Irvine is the leading California city when it comes to being safe and having the best public education system. Traffic (inside of Irvine) isn't too bad, there are numerous parks, walking/riding trails, and has one of the most ethnically diverse populations in the United States. The homes in Irvine can range from condos, townhouses, standard homes, to the ultra-high end homes in areas such as Shady Canyon or Turtle Ridge. Many families choose Irvine because of it is consistently voted as "America's Safest City".
Often called Orange County's Artist Colony Laguna Beach is where many tourists (and locals) go to enjoy the beach. The homes are expensive per square foot, but the views are amazing and the care free lifestyle makes everyone day dream just a little bit. There are definitely some tradeoffs to consider when living here (traffic and parking can be an issue), but for many this is their dream location, their "Shangri-La".
The scenic beauty, collection of boutique shops, and commercial businesses truly make Newport Beach unique. Homes, like condos and townhouses, are often custom remodels, but one truth remains, in the Newport Beach real estate market, location is everything. Our specialty is marketing your home's brand in an unique story, which delivers the right buyer.
When it comes to the modern Newport Beach home, buyers look for views, light, and outdoor space. Open layouts are integral to your home's design: glass walls, private yards, entertainment spaces, and seamless indoor-outdoor spaces. Let us tell your home's story and accent these great features.
Questions about selling your home? Let us help. Find out why business leaders, A-list celebrities, local Newport Beach residents, and sophisticated sellers and buyers rely on our expertise to help them navigate the complicated Newport Beach real estate market.
Our team employs decades of realtor experience, with advertising agency professionals, to deliver the right message to the right buyers.
The real estate agents on our team are experts in every sense of the word, dealing with exclusive access to some of the most beautiful properties in the world.
Dazzling sun drenched days, radiant sunsets, warm breezes on a summer night, sand and surf, and a touch of sophisticated charm - describes Orange County. The harbor in Newport Beach is the largest recreational harbor on the west coast. Many multinational companies call the area home. And, with picturesque landscape, beaches, and homes "The OC" is nearly the perfect place to live. Yes, we hear it all the time, it is paradise without having to be on a tropical island thousands of miles away.
The Newport Beach real estate market is made up of 10 distinct neighborhoods, each with its own personality, natural beauty, and if you have time... a story to share.
Irvine is "America's Safest City" and one of the most ethnically diverse. The city is made up of 20 Neighborhoods and provides the best public education system in California.
Laguna Beach is comprised of 4 very different areas and while traffic may pass by everyday - living here is as peaceful as can be. The arts, the restaurants, and the perfect sunsets make for a perfect permanent vacation.
When buying or selling a home the number one selling point is location. And, it is the reason why the prices of homes in Orange County are what they are. TriVista Real Estate is led by a Marketing Agent who will market your local property with an advertising and marketing background unmatched by any of the other realty firms.
The Orange County Housing Market has frustrated buyers for over a year with incredible, relentless competition that makes it extremely difficult to secure a home.
"When it rains it pours."
There are times in life when it seems impossible to take a break. All the cards feel like they're stacked against you. So many buyers feel this way for over a year now. The housing market has been extremely hot since June last year and has not left since then. Buyers face a lot of interest in almost every home that it is brought on the market. Multiple offers are the rule. Homes that are being sold above their list prices are "the norm".
It's hard to be a buyer looking to buy into today's housing market. It feels like they're constantly against the ropes in a 12 round Heavyweight fight. Simply put, securing a home is extraordinarily frustrating for buyers. Many kick themselves and I wish they could have bought a year ago knowing homes were valued at record values since then. But this way of thinking is pointless. Home values have risen for Decades. Instead of dwelling in the past, it is best to look at where living is today and where to go in the future.
The active population is of homes for sale is 2,289, the lowest level for this since the pre-Covid. The 3-year average from 2017 to 2019 (intentional omission of the last year due to to offset COVID) is 6,520 apartments, 185% more than today, another 4,231 FOR SALE signs. It didn't help that 1,720 fewer apartments were brought onto the market 6% less than the 3-year average. Even with less available apartments, the demand (the last 30 days of outstanding sales) runs continuously hot. The 3 year average from 2017 to 2019 is 2,363 pending sales, 10% less or 260 less than 2,682 today.
The high demand combined with a supply crisis has led to an expected market time (number of days between market entry and opening of the escrow account) at an extremely low, unprecedented level. It's at 26 days today and has been below the 40-day mark since January, which suggests an insane market with tons of demonstrations, multiple offers, sale prices above list prices, and a rapid appreciation.
Current market momentum suggests an ongoing supply crunch with fewer homes fighting, increased demand due to relentless historically low mortgage rates, and insane expected market time that stays consistently below 40 days. This is a recipe for persistent multiple offers, persistent buyers jumping on everything that is placed in the market, and lasting appreciation.
Knowing where the market is today and where it is going from here is very important. When buyers qualify to purchase and are satisfied with the monthly payment, they can be confident that they are benefiting from today's remarkable, historically low mortgage rate environment and that home appreciation will continue for the foreseeable future. If you compare a home bought today for $1 million to a 20% down payment, the monthly payment is $3,313 at 2.86%. Home appreciation will slow somewhat over the next year, from 20% today to around 10%. If prices stayed the same, the $1 million home would grow to $1.1 million in a year and the payment would be $ 3,644 per month. That's an extra $ 331 each month, or nearly $4,000 annually if a home purchase is withheld for a year.
Many financial institutions and economists are forecasting interest rates to rise to around 3.5% in a year. With a $1 million home upgraded to $1.1 million and the interest rates rising from 2.86% to 3.5%, the monthly mortgage payment rises to $3,952 per month. That's an additional $ 639 each month, or an increase of over $7,500 per year for the life of the loan.
Our goal is to only represent the home seller, we do not use inside information to negotiate a guaranteed deal, just the best deal for the seller.
We offer decades of expertise, service, and integrity. Our team consists of nationally ranked real estate agents and marketing experts.
Our team is made up of Southern California natives, who's families have been a part of the beach lifestyle for generations.
We will come out and say it, "we are Christians," who courageously trust Jesus to do amazing things in our lives. Through our efforts, God is glorified.
We are agents of change, helping clients navigate the process of selling their home. Open, honest, and being solutions-driven is how we lead.
Mentally we are tougher than nearly all real estate agents you may find. Closing a sale is easy, however negotiating for your benefit is skillful.
Below is a general rating of the home market. (1-3 = seller's market, 3-6 = neutral market, 6+ = buyer's market). All ratings done +/- .5
Homes for sale Newport Beach = 1.5
Homes for sale Newport Coast = 1.5
Homes for sale Westcliff Newport Beach = 1.5
Homes for sale Balboa Island = 1.5
Homes for sale Balboa Peninsula = 1.5
Homes for sale Eastbluff = 1.5
Homes for sale Mariner's Mile = 1.5
Homes for sale Port Streets = 1.5
Homes for sale Aliso Viejo = 1.5
Homes for sale Laguna Niguel = 2
Homes for sale Dana Point = 2
Homes for sale Laguna Beach = 1.5
As we move east of the 405 we see Homes for sale Orange County = 2
- The observation here is luxury homes for sale is a bit more of a seller's market compared to homes in other areas of Orange County.
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Steven Lockhart - Realty One Group West OC Irvine Realtor
4010 Barranca Parkway #120, Irvine, California 92604 | 1600 Newport Center Dr Ste 250, Newport Beach, CA 92660
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Newport Beach, Irvine, Laguna Beach, Corona Del Mar, Newport Coast
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Realty One Group West | CA: 02159155