Issuu on Google+

h么m real estate group, inc.

www.homgroup.com issue one 2008

high-end highlights

the allure of

s h a dy c a n yo n庐

insights into real estate transactions


We would like to thank our readers and clientele for their response and kind commentary regarding our first issue of HÔMPage. The feedback was beyond our expectations. It is clear to us that we have a message that resonates with this marketplace and you, the people who make this coastline their home. We are steadfast in our desire to provide the most valuable and pertinent real estate information available. As HÔM Real Estate Group begins its third year, our continued success proves that our discerning and sophisticated clientele wish to be informed rather than be “sold”. In a challenging and complicated market, the importance of being educated has never been more manifest. Read on and enjoy. Most importantly, learn what is fact and separate it from the popular picture of real estate that has visibly distorted views of our local marketplace. While some have chosen to “wait and see”, others are learning that this era may prove to be one of rare opportunity.

hôm real estate group, inc.

1200 newport center drive, suite 100 | newport beach, california 92660 | 949.554.1200 | www.homgroup.com


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cov e r i m ag e : way l a n e , c h i n a cov e

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west newport

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lido isle balboa peninsula

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balboa island

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a real estate odyssey

peninsula point

highlights from the high end

It is difficult to look back over the last year or so and make sense of what really happened in our local real estate market. The good news we witnessed locally was in stark contrast to the tone and content of countless stories in the media. The “sub-prime meltdown”, vividly and poignantly described again and again on Television and in newspapers, passed us by like a hurricane— coming close enough to feel its nearby effects, but sparing our area almost completely, leaving few visible signs of damage. A fair generalization about our local real estate market would be­—the more modest the price point, the more challenging the market. The high-end market was clearly the star of the show, with record sales in several neighborhoods including Victoria Beach, Pelican Crest, Irvine Cove, Crystal Cove, Corona del Mar, Linda Isle, One Ford Road and several others. Consistently approached by our clients about what segment of the market is thriving, we thought it interesting to summarize the high-end highlights. While all known sales above $10,000,000 are included in the accompanying tables and maps, certain sales represent milestones and provide commentary about the prevailing tastes and preferences in our market. In addition to these features from last year, we have included information on significant properties currently being offered that are likely to make our list next year.

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newport beach & surrounding area sold*

one ford road N 02

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big canyon

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newport beach

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canyon rim pelican vista drive skyridge avalon vista bayshore drive

way lane avocado avenue bay island west bay avenue linda isle linda isle evening canyon road brighton road via lido soud

n |21 n |22 n |23 n |24 n |25 n |26 n |27 n |28 n |29

linda isle ocean front drive troon drive deep sea sunset vista pelican crest drive skycrest pelican point drive carnation avenue

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corona del mar N 03

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currently offered n |12

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east oceanfront troon drive ocean boulevard skycrest east balboa boulevard west bay avenue

newport coast N 04 N N 09 08

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N 10 N 28 N 24

crystal cove

pacific ocean LA G U N A BE AC H

exclusive affiliate of christie ’s gr eat estates

hôm real estate group, inc .

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east oceanfront balboa peninsula point, newport beach* N 01

Designed by internationally noted architect Arthur Erickson,

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this residence has been featured in several significant design and architecture magazines. The setting, a corner lot on the L 01

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oceanfront overlooking a wide 08 07 beach as 03 04 expanse of dunes and 02

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well as the ocean and sunsets beyond, is representative of the ongoing demand for quality design in prime locations.

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troon drive one ford road, newport beach* With attributes garnering notable attention in the resale market, this One Ford Road property sold for over well $10,000,000. The interior spaces, just shy of 10,000 square

courtesy of john burrill, coldwell banker

feet, feature a resort ambience with a distant coastline view. Troon Drive, a street of all custom residences on lots averaging an acre, will continue to draw attention and produce record off-water sales.

avocado avenue The myford irvine estate, corona del mar The largest and most private of the coastal offerings, this property includes a residence of nearly 20,000 square feet with all of the main living areas L

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located on one level. Nowhere on the entire Orange County coastline does a home of01such impressive scale close to the water. Over07352 frontage 08 03 exist so 04 02 feet with views of the harbor entrance, ocean, Catalina and sunsets make this gated compound covering nearly one and one-half acres a genuine rarity. L 08

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Represented by HÔM Real Estate Group, Inc.

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currently offered

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way l ane china cove, corona del mar One of thirty-six properties in this secluded and picturesque enclave, this new residence overlooks a wide expanse of the cove from its sandfront location. Recently completed, the tasteful and refined design has been executed to flawless precision with rich materials. Amazing water views enhance the atmosphere of this beachfront abode. Represented by HÔM Real Estate Group, Inc. [ 04 ]

hOmgroup.COM

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ocean boulevard corona del mar* This near new home on the cliff side of Ocean Boulevard is neither large, nor set on a large parcel. It did, however, sell for a large price. At $18,150,000, it is a record sale price for the “Flower Streets” and demonstrates the continued demand for the charming properties of the Village.

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skycrest pelican crest, newport coast* One of the better locations in all of Newport Coast, N 01

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N N this propertyNfeatures a residence ofNinspired design 15

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sold

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and exceptional quality construction. Larger than most in the neighborhood, the site is approximately three-quarters of an acre with an awe-inspiring view of the coast and harbor reaching towards Los Angeles. With multiple successive owners, it has sold for respectable prices each time offered.

west bay avenue balboa peninsula, newport beach This tasteful traditional home features many of the features most buyers are looking for in a bayfront residence; recent L

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08 07 entry-level 01 04 Whereas at one time 02 construction, oversized lot, excellent view and dock accommodations for 03 a larger vessel.

bayfront homes were most in demand, homes like this are far more saleable and in demand amongst buyers today.

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courtesy of bruce miller, prudential california realty

Represented by John Burrill of Coldwell Banker N 01

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courtesy of john burrill, coldwell banker

bay isl and balboa peninsula, newport beach Bay Island, a neighborhood most people will never see; no cars, no high-profile residents and a carefully guarded footbridge. A sanctuary of calm and beauty surrounding an idyllic botanical garden, this is an oasis in the middle of Newport Harbor. Although several homes on this small island have traded hands in recent years, this Bay Island residence should still be considered a rare opportunity for buyers. A stock cooperative, Bay Island is a destination for those who see its physical barriers as a way of protecting their highly private lifestyles and maintaining its timeless appeal. Represented by Bruce Miller of Prudential California Realty

exclusive affiliate of christie ’s gr eat estates

hôm real estate group, inc .

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irvine cove

N B EE W P AC O R H T

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emerald bay

crescent bay

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pacific ocean

laguna beach & surrounding area sold* l |01 l |02 l |03 l |04

victoria drive emerald bay riviera drive crescent bay

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emerald bay ocean front circle drive

currently offered l |08 l |09 l |10 l |11 l |12 l |13 l |14 l |15 l |16

emerald bay south coast highway victoria drive seacliff drive moorea way lagunita drive smithcliffs road emerald bay altamar drive

l |17 l |18 l |19 l |20 l |21 l |22 l |23 l |24

south la senda drive circle drive south la senda drive south coast highway lagunita drive bay drive circle drive cliff drive

*the sales featured are a compilation of properties sold in 2007 and 2008 and represent activity by various real estate brokers as well as transfers by principals. by featuring these sales, hôm real estate group is in no way suggesting involvement in the transactions but is merely providing information. this market information is based in whole or in part on information obtained from the orange county tax assessor’s records and/or the newport beach association of realtors and its multiple listing service and may not reflect all real estate activity in the subject market. the accuracy of all information regardless of the source is deemed reliable but not guaranteed by hôm real estate group, the newport beach association of realtors or its mls.

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laguna beach

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rockledge victoria beach

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lagunita

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three arch bay

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DA

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NA PO IN T

exclusive affiliate of christie ’s gr eat estates

hôm real estate group, inc .

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victoria drive victoria beach, laguna Beach* Known as “Sugarloaf Point”, this estate includes nearly two acres of grounds, a private beach, a sprawling garden and pool, and a recently completed English Craftsman style residence of approximately 10,000 square feet with a separate guest house. There are fewer than a handful of comparable parcels in Laguna Beach. Sold by HÔM Real Estate Group, Inc. L 01

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emer ald bay laguna beach* Overlooking the surfline of Emerald Bay beach, this Mediterranean influenced residence features 7,000 square feet in a four-floor arrangement. With such high demand for this type of property, it was in escrow within a few weeks of being offered. Sold by HÔM Real Estate Group, Inc. emer ald bay laguna Beach One of the highly desirable oceanfront “point” properties in Emerald Bay, the former residence of Louise Turner (a legend in the coastal residential real estate brokerage community) is testament to her wise judgment and understanding of real estate. The next time one of the newer and larger Emerald Bay “point” properties is sold, people will look back and realize the value and opportunity of this offering. Represented by Nancy and Kevin Casebier of Prudential California Realty

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south coast highway rockledge, laguna Beach

High and jagged rocky cliffs intensify the dramatic natural beauty of this N 02

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oceanfront setting. At more than one-half acre, this property is of exceptional value and is considered by many to be underpriced. The historic New England style residence was originally built in 1940 and overlooks the cove below. On the market for the first time in more than four decades, this home is a snapshot of vintage Laguna in a timeless setting. Represented by Ray E. McAfoose of Coldwell Banker

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rivier a drive irvine cove, laguna beach*

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Sold in a principal-to-principal transaction, this home is one of just five

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residences in all of Irvine Cove with direct access to the sand. One source close to the deal placed the sale price at just north of $38,000,000. While the actual number is not known, anything above $30,000,000 would

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make this the priciest sale in the county’s history.

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sold

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crescent bay laguna beach* Ed Lorbach’s homes are widely recognized as some of the best architecture in coastal Orange County. On the bluff overlooking Crescent Bay, this distinctive, properly scaled and perfectly laid out home captures spectacular views. This is the highest known sale on Crescent Bay. Victoria Drive Victoria Beach, Laguna Beach This property is positioned perfectly for breathtaking views of the entire northern coastline. A modern yet comfortable residence that captures the enticing beauty and drama of this location. The colors of the ocean and the coastline are echoed throughout its thoughtful design oriented around spacious entertaining areas and walls of glass highlighting the views. Represented by Kindy and Chandra Slagle of Prudential California Realty

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courtesy of kindy and chandr a slagle, prudential california realty

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Seacliff Drive Laguna Beach This extraordinary oceanfront property occupies a lone promontory projecting from the cliffs of one of Laguna’s most picturesque coves. The best views on the coast (from three sides of the residence) are complemented by privacy unique to properties along this coast­—truly one of a kind. Represented by HÔM Real Estate Group, Inc.

exclusive affiliate of christie ’s gr eat estates

hôm real estate group, inc .

[ 09 ]


An experienced agent that has encountered similar market cycles can articulate the fundamental principles that impact values as well as guide prospective clients through the entire process.

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hOmgroup.COM


young perspective a

b ro k e r’ s

i n s ig h t

o n

bu y i n g

a n d

s e l l i n g

Climbing Mount Everest is a rare achievement, accomplished by only a scant percentage of mountaineers with years of experience and preparation. While buying or selling a home is rarely a life endangering pursuit, it does come with a significant set of challenges and risks. Also, in our coastal marketplace millions of dollars are usually at stake—a venture that should be made only with the advice and counsel of an experienced and trusted advisor. With this caveat in mind, selecting a real estate agent with the capability to scale our mountainous real estate terrain can be as difficult as finding another Edmund Hillary. To help answer questions about navigating through today’s real estate market, HÔMPage caught up with Cari Young, HÔM Real Estate Group’s managing broker. Young, a ten-plus year veteran of local real estate and licensed attorney, has overseen thousands of local transactions as the broker of record at the most esteemed boutique brokerages in the region.

In a challenging market, what can a concerned seller do to ensure the best possible result? Pick the right agent. An experienced agent who has encountered similar market cycles can articulate the fundamental principles that impact values as well as guide prospective sellers through the entire process. Sellers should analyze an agent’s proposed marketing plan, consider the brokerage’s marketing reach and understand how their property compares to other comparable listings. Conflicting accounts of the market and increased inventory have made the process of buying more confusing. What would you suggest to a buyer with these concerns? A market like this presents both pitfalls and opportunities. A good agent differentiates between the two and specifically details the factors influencing the value of individual properties. A good agent can also guide buyers through challenging negotiations and complicated escrows. All sorts of unexpected things come up in escrows—a skilled agent will help a buyer deal with the unforeseen and unfamiliar. Agent selection is only part of the process. What else can a seller do? I would stress the seller’s involvement throughout the process— this is a key component often overlooked. An agent has a fiduciary duty—a duty of the utmost care, integrity, honesty and loyalty in his/her dealings with the seller. The agent is there to guide the seller

exclusive affiliate of christie ’s gr eat estates

through the complexities of a transaction; however, this duty does not relieve the seller of his/her responsibility to take an active role in the process. Understanding the current market conditions as well as the marketing strategy is of great value as it prepares sellers to respond most strategically when an offer is presented on their property. Once in escrow, where should sellers focus their attentions? Disclosures. I cannot overstate their importance in a transaction. While the disclosure process can be quite cumbersome, a good agent will guide his/her client through the process, spending a considerable amount of time reviewing the required paperwork and ensuring that the parties understand the disclosure items and their implications. Many sellers see the tremendous amount of paperwork required in a transaction as a burden when in fact these documents can serve to protect them and prevent future claims. On the other side of the transaction, a buyer may not spend an adequate amount of time reviewing these disclosures which may indicate a past or potential problem that should be further investigated. How would you summarize your recommendations? While buying or selling a home certainly is a significant event, it shouldn’t be excessively complicated or nerve racking, even in our current market. As with any significant business transaction, utilization of qualified and competent professionals will influence the outcome. •

hôm real estate group, inc .

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d el m a r ]

[ co ro n a

china cove

BEACHFRONT CO RO NA DEL MAR

$13,700,000


on t h e sa nd China Cove occupies the most picturesque setting in all of Corona del Mar. Just twelve properties line the edges of this idyllic cove and look out upon the entrance of Newport Harbor. This stunning new beachfront residence is set on a multi-lot parcel overlooking the harbor, Catalina and sunsets. The exceptional design has been rendered in gorgeous finishes including Honduran mahogany, sculpted glass and hand-cut blocks of Italian travertine. Spacious entertaining areas, a roof terrace with fireplace, three-story garden atrium, oversized beachside terrace, ocean-view guest suite, two offices and a gym lend themselves to comfortable living at the beach.

for more details, please visit: www.robgiem.com

rob giem

9 4 9. 55 4 .12 14

ro b . g i e m @ h o m g ro u p . co m


j o n e s]

p r o f i l e [ j eff

on deck jeff jones

Jeff Jones

is pretty sure he’s found a niche in the real estate market—and you might be surprised to hear what it is. When asked about his key to success and what really makes him stand out, Jones simply responds: “I answer my phone.” At first, it is easy to underestimate this thriving real estate agent. When we met for a photo shoot this fall, he tumbled out of his car and quipped almost immediately: “My wife dressed me—don’t think I can do this alone.” He obediently hauled a sport jacket over his shoulder as he joked his way to the water’s edge. But this personality and presence is a familiar component of successful real estate agents—they’ve all got stellar people skills—making Jones seem like simply one of rest. However, two hours, five text messages, three emails and eight answered phone calls later, Jones’ business philosophy makes its way to the surface: he’s available. Because he is never without an anecdote, we heard a few stories about how committed Jones really is to answering his phone: “I took a call once while riding a tour bus on my way to see the Gaza Strip.” The aspiring jet-setter reels with enthusiasm recalling another moment: waiting in a security line at the Dome of the Rock. International travel and vacation agendas can’t even get in the way. Answering his phone, however, is only where his story begins. It is what happens afterward that has garnered him a Blackberry® full of loyal clients.

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hOmgroup.COM

When asked about how he manages to make clients and sales out of phone calls, Jones refers to a call he received from two prospective buyers who were cruising the waterways of Newport Harbor in their electric powered Duffy boat. He was able to give a boat tour of available homes from his office, directing them to unknown islands and educating them on the bay-front market and property values over the phone. At the end of the tour, Jones had not only earned their trust, but their business as well. A feet-on-your-desk kind of guy, Jones is both charmer and sage. With a career built entirely on sales, he prides himself on the ability to determine exactly what clients want—even if they haven’t quite yet figured it out for themselves. He believes that is the true definition of sales, which is why he’s seen as an advisor rather than a salesman. One couple with a bay-front residence came to Jeff to find a home with a large yard and pool for their kids. As their agent, Jones knew that there wasn’t a suitable property for them in their current neighborhood. He helped them prioritize and they ended up in Shady Canyon® because it matched their most important criterion—space for their family. For Jeff that’s what it’s all about: deciphering lists of wants and needs and finding them realized in a home. Jeff Jones is about people. He represents the individual. Mostly, he knows how to (as he says) “Shut up and listen.”


“ je ff c a r e s a bou t t h e big pic t u r e a n d se e s be yon d t h e t r a ns ac t ion i t s e l f. du r i ng ou r pu rc h a s e , h e fo c use d on how w e l l t h e hom e wou l d house ou r l i v e s a n d m e m o r i e s f o r y e a r s t o c o m e .” barry

exclusive affiliate of christie ’s gr eat estates

&

s u s a n ko n i e r , n e w p o r t coa s t

hôm real estate group, inc .

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b e ach ]

[ n e w p o rt

l a

v i e

nautique

Newport Island overlooks a tranquil channel with direct access to the Lido Isle turning basin. Islanders love the charm and seclusion of a location so close to the beach, yet distinctly set apart. This waterfront residence with a private boat dock and large brick bayside terrace features many tasteful details. The kitchen is replete with Viking appliances and handsome granite countertops. Two large master suites, one with a sweeping view of the channel, feature stone accents, custom cabinetry and walk-in closets. The current den can easily be converted to a third bedroom. Hardwood floors and upgraded entertainment systems make this a very inviting home. for this and other fine properties, please contact jeff jones | 949.394.5333 | jjones@homgroup.com


p en i n su l a ]

[ b a l b oa

peninsula point lo c at i o n

.

lo c at i o n

.

lo c at i o n

a serene and secluded haven, peninsula point is a scenic snapshot of vintage newport at the end of balboa peninsula. generations of families have enjoyed living on “the point”—the most idyllic beach setting in all of newport. this spacious custom home is an ideal getaway or primary residence situated in the quiet family neighborhood of peninsula point. with over 3,100 square feet of living space, it boasts an open gourmet kitchen with professional grade appliances and a large granite-topped bar. the home is appointed with a great master suite with fireplace and newport harbor balcony, generously sized secondary bedrooms, and a large upstairs den. enjoy close proximity to a private bay and one of the world’s most sought-after beaches from this intimate enclave featuring resident use of a community boat ramp, barbeques and tennis club. available for $3,450,000.

for this and other peninsula point properties, contact kim bibb . 714.396.0185 . kbibb @ homgroup.com


c r y s t a l

c o v e

a final chapter

Crystal Cove may be the most successful residential development in the history of Newport Beach. The thoughtful design includes sweeping ocean views, exquisitely landscaped parks and overlooks, and world-class recreational amenities, all behind its carefully guarded entrance gates. Now, several years after the release of its first homes, Crystal Cove is entering into its final offering phase, perhaps having saved the best for last.

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hOmgroup.COM


Beyond the stunning composition, setting and views, Crystal Cove offers the desirable Canyon Club, a private community club with pool, spa, fitness center, tennis and basketball courts, changing rooms, rooms for entertaining and dining terraces, in a resort-style atmosphere. The final offering phase incorporates large custom homesites, the Estate Collection’s custom-quality homes and the luxury residences of Seapoint and Nautilus. Descended from classic Santa Barbara, Tuscan, Provence and Northern Italian designs, the architecture is in harmony with the history and coastal topography of the area. For more information on these opportunities, please consult the representatives found below. c u s to m h o m e s i t e s

Approximately 131 custom homesites are being offered, ranging from 16,000 to over 35,000 square feet. Four architectural styles are available to choose from: Provence, Tuscan, Santa Barbara and Northern Italian. Contact the Crystal Cove sales office for custom homes at 866.280.7825. T h e E s tat e Co l l ec t i o n

The Estate Collection is a set of custom-quality residences by luxury builders selected for their exceedingly high-quality design and construction. Seacrest and The Tides compose this collection. S e ac r e s t

Seacrest, by Laing Luxury, will offer both one and two-story estate-style detached luxury residences of approximately 5,517 to 7,678 square feet, with private guest suites, three to five bedrooms and four-car garages. If interested, call 949.453.0088 or visit laingluxury.com. T h e Ti d e s

The Tides, by Standard Pacific Homes, will offer classic, multi-level designs of approximately 4,894 to 7,532 square feet with creative subterranean spaces. If interested, call 949.453.0088 or visit standardpacifichomes.com. Seapoint

Seapoint, also by Laing Luxury, will be as intimate as it is luxurious, offering only 27 detached estate residences in a premier coastal-view setting. Formal Tuscan and Santa Barbara styles will grace three two-story floorplans, each imaginatively designed by renowned Robert Hidey Architects. If interested, call 949.453.0088 or visit laingluxury.com. N au t i l u s

The encore of Nautilus, by Laing Luxury, brings one and two-story detached luxury residences with approximately 2,900 to 4,500 square feet, with three to six bedrooms and three-car garages. Contact 949.715.2020 or visit laingluxury.com. resale residences

A selection of resale residences is available in Crystal Cove. For more information, please contact our Managing Broker, Cari Young at 949.554.1211. exclusive affiliate of christie ’s gr eat estates

hôm real estate group, inc .

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a r t c o l l e c t o r ’s d o m a i n

a m e ya p r e s e r v e

m a n h at ta n

m o n ta n a

the temple house

oce a n front promontory

l a k e ta h o e t r e a s u r e

m i a m i b e ac h

l ag u n a b e ac h

l a k e ta h o e

i n th e h e a rt of montecito

s e a s i d e pa r a d i s e

t h e p e n t h o u s e at t h e p i e r r e

montecito

ibiz a

m a n h at ta n

the ponds aspen

for additional information about these homes, please visit

www.christiesgreatestates.com

[ 20 ]

hOmgroup.COM


av e n u e e m i l e ac o l l a s

s p e c tac u l a r v i e w s

b e l m o n t e s tat e

pa r i s

c h i c ag o

whistler

casa dos estrell as

i ta l i a n - i n s p i r e d m a s t e r p i e c e

n i c h o l s c a n yo n

m e xico

sa n fr a nci sco

w e s t h o l ly w o o d

l a k e ta h o e s m a r t h o u s e

c h ât e a u d u l ac

s p e c tac u l a r w i l l b r u d e r c o n t e m p o r a r y

l a k e ta h o e

s i s t e r b ay

phoenix

c h r i s t i e’s g r e a t e s t a t e s

propertie s of note whether you desire a metropolitan penthouse, a ranch or mountain home, an island retreat, a private villa, or a historic mansion to call your own, hôm real estate group, through its affiliation with christie’s great estates, can find a distinctive property to suit your dreams. it would be our pleasure to provide you with information regarding extraordinary properties from around the world. for information regarding any of the properties above, or for a private introduction to a christie’s great estates broker, please contact our managing broker, cari young at 949.554.1211.

exclusive affiliate of christie ’s gr eat estates

hôm real estate group, inc .

[ 21 ]


i s l e]

[l i d o

island

living

Newport Harbor’s Lido Isle provides the ultimate in island living. Bayfront and interior homes lining private garden paths share the amenities of this distinguished community. Private beaches, a yacht club and sailing program, tennis courts, clubs and activities are but a few of the reasons many people find living on Lido Isle so enchanting. Either for year-round living, or as a summertime getaway, Lido Isle has been a preferred beach destination for decades. For information regarding Lido Isle, or for information on other fine coastal properties, please consult with Michelle Vrbas.

michelle vrbas

949.554.1263

m v r b a s @ h o m g r o u p. c o m


sunsets

on the sand

The wide expanse of beach in West Newport is the setting for some of the most desirable oceanfront property in California. No other part of this coastline features such a quintessential beach atmosphere. This meticulously designed and maintained residence on a prime corner lot overlooks the most preferred stretch of sand in the area. catalina sunsets are but part of the panoramic view. This elegantly appointed residence features several unique amenities perfectly and thoughtfully suited to entertaining on the beach. Five full bedroom suites, spacious entertaining areas, a patio with barbeque and firepit, as well as a roof-top terrace with spa make for ideal beachfront living. $6,979,000

For more information, please contact Rob Norquist at 949.466.5115 or rnorquist@homgroup.com.


inside the market [ ANGELENOS IN FLIGHT ] Lured by Newport and Laguna’s unspoiled beaches and the expectation of a shorter commute, many Los Angelenos have turned their cars south and are searching for ( and purchasing ) our beachfront properties, continuing to exhaust the supply of better sandfront locales. With some esteemed ( yet surprisingly less attractive) beachfront destinations in L.A. selling for well over $250,000 per front foot ( land only) , the redirection of this attention and money to our southern shores seems inevitable. [NEW KING ON THE HILL ] The resort at Pelican Hill, Set to open at the end of this year, is quite possibly the most impressive resort constructed in this decade. Adjacent to the Pelican Hill Golf Links and spread out over 500 ocean view acres, it is widely anticipated to be a five-star establishment with many of the resort amenities open for public use including dining and spa services. A more valuable benefit may be the boost to property values in Pelican Hill, Pelican Crest and Pelican Point, likely brought on by new buyers introduced to the area as resort visitors. A similar trend has been observed over the last several years in the Laguna Beach high-end market, widely attributed to the opening and continued success of the Montage Resort and Spa. [MADE TO BE BROKEN ] Records, that is. And one after another. the high sale records continue to fall and are replaced by even more significant residential real estate purchases along our coastline. In less than 18 months, several transactions have been recorded with prices above $20 million; a threshold number not achieved locally until three years ago. Current opportunities are rumored to include a few private offerings in the $30-$60 million range, yet to be found by qualified buyers in search of the “best of the best”.

[ 24 ]

hOmgroup.COM


on the california riviera

Available for only the fourth time in 50 years, this legendary landmark built by Myford Irvine was recently transformed into Orange County’s most striking oceanfront estate: Hale O Pau Hana. A privately gated compound of more than one acre includes an architecturally significant, single-story house of nearly

20,000 square feet, a distinctive courtyard pool, magnificently detailed mature grounds and majestic trees as well as 240 -degree harbor, city lights, ocean, island and sunset views. Peerless attributes provide an unparalleled opportunity to live and entertain on a resort scale within the privacy and security of a residence.

corona de l m a r $ 28 , 000, 000 www.h o ph .co m

rob giem

| 94 9.554 .12 14 | ro b.g i em@ h o mg ro u p.c o m

d el m a r ]

t h e pe ace a n d spir i t of a l oh a

[ co ro n a

r e s o n at i n g w i t h


c a n yo n ® ]

q & a [ s h a dy

s h a dy c a n yo n® Since the debut of Shady Canyon a few years ago, hundreds of home buyers and their families ®

have purchased the spacious custom lots, impressive semi-custom homes and resale custom estates that line the fairways, canyons, arroyos and hillsides of this 1,200 acre gated estate neighborhood. Surrounded almost entirely by thousands of acres of open space preserves, while protected by two continuously manned gatehouses, Shady Canyon is a place best known ®

by those who have spent time within its boundaries. The allure of Shady Canyon intrigues ®

many, and HÔMPage sought to unravel some little known secrets of this carefully guarded enclave by asking the agents well recognized for representing Shady Canyon ’s finest estate ®

residences: Ron Millar, Debbie Millar and Kevin Kubiak.

[ 26 ]

hOmgroup.COM


Shady Canyon ® is widely regarded as the

With the original custom lots sales complete,

most

club

are there any remaining opportunities for

community in Orange County. What factors

someone to create their own estate? Yes, now

contribute to this reputation? Set on more

that the speculation market has slowed down, we have seen

than 1,200 acres, the vast open space within the community

some lots being resold by the initial purchasers.

prestigious

gated

country

and surrounding it are unlike anything else in Orange County. The spacious lots, authenticity of the architecture

What do you think Shady Canyon® will be like

and high construction standards add value to the setting.

in ten years? It will be even more beautiful. When all

The weather is better year ‘round than in any coastal or

of the homes are built, the area will take on a different feel

desert destination and the location is extraordinary—just

with a more peaceful, established and mature ambiance. The

minutes from the best business and recreational amenities in

landscaping has really evolved in the last few years and will

California. Finally, the golf course and clubhouse are among

continue to add to the atmosphere within the community.

the finest in the West, making Shady Canyon something ®

What do the country club and golf course

truly special.

contribute to the neighborhood? While owning How large are the parcels and houses of

in Shady Canyon does not require club membership, the club

Shady Canyon®? The average home site is more than one

does offer expanded social and recreational opportunities

half of one acre. The custom homes are substantial with the

to those who wish to pursue membership. Numerous club

average size nearing 8,000 square feet among the sites currently

functions are the hub of the community’s social scene and

under construction. Some of the semi-custom homes are more

the golf course is considered one of the best in California.

®

modest in size and range from 3,800 square feet and up. The largest of the custom residences are well over 10,000 square

What is the range of prices in Shady Canyon®

feet and many occupy multi-lot parcels that are larger than

right now? There is a surprising diversity in the range

one acre.

of prices. Semi-custom homes are currently priced from just under three million dollars. Most of the homes fall in

We’ve heard many owners in Shady Canyon® “move up”. Is this true? We have seen a number of

between five million and ten million dollars, with largest homes and sites reaching upwards of $15,000,000.

residents move from the semi-custom to the custom homes. Recently, several original Shady Canyon custom homeowners

Any additional thoughts? The neighborhood offers

have built or purchased bigger residences in the community.

a way of life that people won’t find anywhere else. For those

Many custom-lot purchasers have lived in the semi-custom

who want to live away from the traffic and crowds, in a quiet

homes while waiting for the new construction to be completed.

and private setting with great amenities, there may be nothing

Residents often move up, but few move away.

better than Shady Canyon . •

®

exclusive affiliate of christie ’s gr eat estates

®

hôm real estate group, inc .

[ 27 ]


c a n yo n 速]

[ s h a dy

s c e n i c e s tat e

Located in the private and exclusive residential golf preserve of Shady Canyon速, this exquisite Santa Barbara style estate, constructed by Pinnacle Custom Homes, Inc., is situated on an expansive 28,675 square-foot lot. With beautiful golf-course views and 6,853 square feet of interior living space, the home has five bedrooms, five and one half baths, a library/office, bonus room and wine room. The home features well-appointed amenities including a pool and spa, built-in barbecue, outdoor kitchen, and a spacious loggia and outdoor cabana. $6,795,000

for additional information about this and other shady canyon速 homes, please contact ron millar at 949.233.8080 or rmillar @homgroup.com kevin kubiak at 949.874.4706 or kkubiak @homgroup.com [ 28 ]

hOmgroup.COM


n e w po r t b e ac h

$2 , 695 ,0 0 0

corona del mar

jon dishon

$ 1,795 ,0 0 0

l ance boggs

949. 63 2.9967

949.50 0.7565

$ 1,15 0,0 0 0 949.887.8602 949. 29 0.59 06

eastside heights

$ 1,629,0 0 0 949.4 66 .760 4 949. 3 78 . 620 0

n e w po r t b e ac h

m i c h a e l a m cc lo s k e y

k e n n i e j o r i z zo

c a r i yo u n g

to r i r i m l i n g e r

$ 1,995 ,0 0 0 949. 63 3 . 2828 b r at t e r 949. 24 4.5109

n e w po r t coa s t g r e g lo m b a r d i j o c e ly n

$2 , 495 ,0 0 0 949.4 0 0.7 253 949. 279.4 43 0

n e w po r t b e ac h e d e s t r a da s y lv i a t i n o

for these and other fine properties please visit

h o m g r o u p. co m

turtle ridge

$3 ,199,0 0 0

da n a po i nt

949.93 3 . 2 24 6

949. 3 78 .5353

n e w po r t b e ac h

$2 , 37 5 ,0 0 0

kim bibb

7 14. 396 .0185

exclusive affiliate of christie ’s gr eat estates

$7 2 5 ,0 0 0

j o n - pa u l b e l l

kim seidenberg

$ 1,95 0,0 0 0 949.4 66 .9355 h i n m a n 949. 24 6 . 3 2 21

corona del mar sar a hinman brad

n e w po r t b e ac h

$3 , 495 ,0 0 0

k ay p o lov i n a

7 14.747.9145

n e w po r t b e ac h

$ 1, 27 5 ,0 0 0

michelle vrba s

949.874.10 07

hôm real estate group, inc .

[ 29 ]


m a r k e t [ fi l e]

M ARKET FI L E resal es l aguna beach

The following information is a comparison of grant deeds on all laguna Beach Properties SINCE 1988

jan

feb

mar

apr

may

jun

jul

aug

sep

oct

nov

dec

year total

month average

1988

40

43

53

66

78

88

91

92

87

82

51

59

830

69

1989

40

45

72

61

73

52

56

60

37

45

44

33

618

52

1990

36

32

44

43

59

54

37

49

39

24

23

26

466

39

1991

19

20

38

36

51

39

42

38

31

25

29

19

387

32

1992

18

17

29

41

47

21

25

26

29

38

22

26

339

28

1993

26

22

37

36

40

41

38

36

41

38

38

47

440

37

1994

17

29

38

34

38

44

40

40

37

35

33

33

418

35

1995

24

20

24

29

38

32

30

28

29

35

18

28

335

28

1996

19

29

49

48

69

38

42

42

42

34

38

40

490

41

1997

36

24

40

69

60

55

56

52

64

63

46

58

617

41

1998

42

39

68

78

51

69

71

50

67

53

39

45

672

56

1999

39

32

56

56

60

64

63

52

55

40

49

55

621

52

2000

30

29

70

65

53

58

48

49

51

36

47

37

573

48

2001

23

32

45

43

46

45

52

55

21

24

29

26

441

37

2002

22

30

38

64

60

50

46

44

36

36

33

45

504

42

2003

36

34

49

57

58

52

66

53

57

58

46

57

623

52

2004

49

35

69

67

47

53

44

48

46

59

42

41

600

50

2005

45

36

53

68

62

50

49

62

40

51

44

33

593

49

2006

37

31

44

36

46

29

27

34

21

30

26

23

384

32

2007

25

38

38

35

30

37

27

23

25

13

22

20

333

28

2008

10

10

10

month average

26

31

48

52

53

49

48

47

43

41

36

46

520

*all information provided by socal mls, hallmark computer data and dataquick is deemed reliable, but not guaranteed by h么m real estate group, inc.

[ 30 ]

hOmgroup.COM


b e ach ]

[ l ag u n a

a c l a s s i c co n t e m p o r a r y

Irvine Cove is the most exclusive and desirable gated community on the California Riviera. Fewer than one hundred residences share the privacy, security and beauty of one of California’s most scenic beaches. Never before has such a distinguished residence been offered within this area. Sculptural forms, disappearing walls of glass, and graceful arcing lines give movement to the structure creating a dynamic interplay between interior and exterior spaces incorporating the ocean views beyond. A perfect complement to its setting, this captivating design is an impeccable composition of materials, spaces and light. Offered at $21,500.000.

for more details, please visit: www.robgiem.com

rob giem

. 949.554.1214 .

rob.giem@homgroup.com


th e a s soci ate s o f h 么m r e a l e s tate g ro u p providing expertise, professionalism and service

bob bonanno managing partner

949.554.1206 bbonanno@homgroup.com t

cari young managing broker

949.554.1211 m 949.290.5906 cyoung@homgroup.com t

rob giem managing director

949.554.1214 949.933.7046 rob.giem@homgroup.com t

robin chesnie

949.554.1274 m 949.230.0550 rchesnie@homgroup.com t

cory christie

karen hobbs

949.554.1262 714.655.4355 khobbs@homgroup.com t

m

jeff jones

949.554.1203 m 949.735.1543 cchristie@homgroup.com

t

laurina d e prima

fa karamzadeh

t

949.554.1227 m 949.278.2980 ldeprima@homgroup.com t

949.554.1225 949.394.5333 jjones@homgroup.com m

949.554.1231 949.412.4650 fa@homgroup.com t

m

m

jon dishon

sabrina ketchum

949.554.1202 m 949.632.9967 jdishon@homgroup.com

t

ed estrada

kevin kubiak

t

949.554.1237 949.422.6664 sketchum@homgroup.com m

brittney atwood

949.554.1261 949.355.3033 batwood@homgroup.com t

m

jon - paul bell

949.554.1272 949.933.2246 jpbell@homgroup.com t

m

949.554.1253 m 949.400.7253 eestrada@homgroup.com t

tammy figueroa

949.554.1251 949.874.4706 kkubiak@homgroup.com t

m

richard lee

949.554.1260 m 949.244.9317 tfigueroa@homgroup.com

t

jarrod frey

vicki lee

t

949.554.1248 949.466.3223 rlee@homgroup.com m

marquise beucler

949.554.1229 949.466.4429 mbeucler@homgroup.com t

m

949.554.1242 m 949.244.5742 jfrey@homgroup.com t

949.554.1247 949.466.3224 vlee@homgroup.com t

m

kim bibb

949.554.1223 714.396.0185 kbibb@homgroup.com t

m

mila gukaylo

949.554.1238 m 714.308.1125 mgukaylo@homgroup.com

t

greg lombardi

949.554.1228 949.633.2828 glombardi@homgroup.com

t

m

cynthia blagg

949.554.1249 949.466.2455 cblagg@homgroup.com

t

m

luke hagenbach

jami lynn

949.554.1224 m 949.554.4818 lhagenbach@homgroup.com

t

brad hinman

dylan mason

t

949.554.1232 949.554.8909 jlynn@homgroup.com m

jocelyn bratter

949.554.1209 949.244.5109 jbratter@homgroup.com

t

m

949.554.1210 m 949.246.3221 bhinman@homgroup.com

949.554.1226 949.294.7832 dmason@homgroup.com

sara hinman

michaela m c closkey

t

t

m

lance boggs

949.554.1265 949.500.7565 lboggs@homgroup.com t

m

[ 32 ]

hOmgroup.COM

949.554.1212 m 949.466.9355 shinman@homgroup.com

t

949.554.1213 949.887.8602 mmccloskey@homgroup.com t

m


nicole m c fadden

kay polovina

949.554.1205 m 949.922.8148 nmcfadden@homgroup.com

949.554.1267 m 714.747.9145 kpolovina@homgroup.com

sharon m c kinnon

laura polovina

t

949.554.1220 m 949.683.4016 smckinnon@homgroup.com

t

debbie millar

t

sylvia tino

949.554.1230 949.279.4430 stino@homgroup.com

jon pugh

michelle vrbas

949.554.1219 m 714.749.8794 jon.pugh@homgroup.com

ron millar

tori rimlinger

t

949.554.1255 m 949.233.8080 rmillar@homgroup.com

949.554.1235 m 949.378.6200 trimlinger@homgroup.com

rob montgomery

kennie jo rizzo

t

949.554.1252 949.400.4517 mswart@homgroup.com t

m

949.554.1269 m 949.929.5102 lpolovina@homgroup.com t

949.554.1254 m 949.933.7393 dmillar@homgroup.com t

mesha swart

t

t

m

949.554.1263 949.874.1007 mvrbas@homgroup.com t

m

heather warren

949.554.1273 949.370.0755 hwarren@homgroup.com

t

m

garrett weston

949.554.1204 m 949.280.6362 rmontgomery@homgroup.com

949.554.1215 m 949.466.7604 kjrizzo@homgroup.com

t

rob norquist

stephanie sandell

michelle woroniecki

t

949.554.1222 m 949.466.5115 rnorquist@homgroup.com t

boni czysz pereira

949.554.1268 m 949.466.4480 bpereira@homgroup.com t

t

949.554.1257 m 949.812.2119 ssandell@homgroup.com t

kim seidenberg

949.554.1218 m 949.378.5353 kseidenberg@homgroup.com t

[editing, design and development] hôm real estate group, inc.; rob giem, jenifer myers, lindsay stetson thompson, summer watkins, robert nienhuis [contributing photographer] trever hoehne photography; www.treverhoehne.com

949.554.1233 714.425.6904 gweston@homgroup.com m

949.554.1266 949.798.9008 mworoniecki@homgroup.com t

m

sue young

949.554.1208 949.395.5112 syoung@homgroup.com t

m

[property photography] courtesy of relative listing agents [christie’s great estates photography] courtesy of christie’s great estates and relative listing agents; www.christiesgreatestates.com

©2008 HÔM Real Estate Group, Inc. All rights reserved. No part of this publication may be reproduced in any manner without written permission from HÔM Real Estate Group, Inc.

exclusive affiliate of christie ’s gr eat estates

hôm real estate group, inc .

[ 33 ]


Christie’s Los Angeles Inquiries American Paintings Peter J. Kloman 310 385 2655 Wine Scott Torrence 310 385 2603

Photos: © Peter Christiansen Valli

Catalogues 800 395 6300 Christie’s Los Angeles 360 North Camden Drive Beverly Hills, CA 90210 christies.com

© Christie’s Inc. 2008 Principal Auctioneer: Andrea Fiuczynski #849102

s i n c e 17 6 6

1200 newport center drive, suite 100 newport beach, california 92660


HOMPage | 2008