Conrad Metz

Pelican Crest is one of the most desirable and luxurious communities Southern California has to offer. These spectacular coastal homes are custom designed, and positioned for perfect ocean and sunset views. Pelican Crest is located between Laguna Beach and Corona Del Mar, and offers 99 homes.

The first property is located at 5 Island Vista. This contemporary and remodeled 4 bedroom, 7 bath estate is home to the highest quality amenities. It offers a formal dining room, a living room with a wet bar, a gourmet kitchen with a butler’s pantry, and a beautiful dining room opening to a family room. The home also renders an office/library with a fireplace as well as a media room with projection and flat screen and bar. The master suite boasts ocean views, a spa like bathroom and his/her closets. There is also a 3,000 bottle wine cellar, gym, elevator, pool and spa and an outside fireplace and BBQ island. This home is 7,188 SqFt and is listed at $7,900,000.

The sixth property is located at 33 Skyridge. This 7 bedroom, 8 bath “Chateau Pacifica” reflects a world well traveled. A century old antique table is now the foundation of the gourmet kitchen. The doors are made from solid, rich wood and you can find hand polished Venetian plaster walls. It is 11,098 SqFt. and is listed at $11,995,000.

The next property is located at 16 Skyridge. This Pelican Crest estate is one of the largest corner lots. It is located in the highest point in the area, which makes for incredible ocean, harbor and Catalina views. There are 2 master suites, a den, a bonus room, theatre, wine cellar, elevator, and an exercise room with sauna/steam room. Also included is an outdoor infinity pool as well as an indoor pool. And the best part? A solar panel that makes electricity cost 2/3 less. This estate is 12,323 SqFt. and is listed at $12,888,888.

The eighth property is at 9 Beachcrest. Beautiful views of Catalina Island, the coast, and golf course. There are 7 bedrooms and 10 baths. Included are a wellness center, wine cellar, library, 2 kitchens and 2 laundry rooms. The kitchen opens to a beautiful outdoor dining area as well as a large family room. Other amenities include, a game room, cigar patio, kids play room, cinema wing with a snack bar and wet bar. This amazing estate is a must-see and is 14,000 SqFt. and is listed at $13,995,000.

The next home is located at 5 Pelicans Drive. With amazing views, this 6 bedroom, 7 bath home includes a grand master suite, spa, and fitness room. Each bathroom is detailed with stone, tile and onyx. There is a beautiful guest suite with a fireplace. Also included are a wine room, library/office, chefs kitchen, and theatre with stadium seating. It is 13,000 SqFt. and is listed at $17,750,000.

The tenth home is at 10 Skycrest. Amazing ocean views can be enjoyed throughout the house, terraces and gardens. The home is hidden discreetly behind a hedgewall, making it a very private estate. With classical Renaissance architecture, it is tastefully detailed and great for entertaining. This estate is listed at $20,800,000.

The next home is located at 56 Shoreridge in Newport Coast. This 6 bedroom, 9 bathroom home overlooks the hills of Newport Coast and the Pacific ocean. The windows and doors maximize panoramic views and natural light. Amenities include walnut doors, limestone floors, double oven, home theatre, and covered patio. The estate is 9,000 SqFt. and is listed at $5,995,000.

The twelfth property is located at 50 Pelican Crest Drive. This is a 6 bedroom, 8 bath Mediterranean style home. It is a front row estate, making for perfect, unobstructed coastline views. It has recently been remodeled and decorated by McKay Design Group. Amenities include, beautiful master suite, infinity edge pool, mahogany paneled library, wine cellar and elevator. It is 9,100 SqFt. and is listed at $9,495,000. (Price includes all furnishings, décor items and electronics.

The next home is located at 11 Pelican Vista Drive. This 5 bedroom, 9 bath estate is also a front row home. Includes all new state of the art electronics and media control. Amenities include a resort style pool, butler’s pantry, exercise room, guest-maid quarters, and 2 master baths. It is 7,500 SqFt. and is listed at $9,850,000.

17 Sailcrest is the next home we will be looking at. It is a Mediterranean style estate with 5 bedrooms, and 8 baths. It is a 3 level home that boasts incredible ocean, harbor and Palos Verdes views. There are many indoor and outdoor entertaining amenities. Included is an 11 seat theatre, wine cellar, gym with a juice bar, steam shower, game room with bar and elevator. Outside you will find a custom pool and spa. Interior finishes include, marble and wood flooring, coffered ceilings and arched glass windows. This estate is listed at $8,999,000 and is 10,400 SqFt.

9 Avalon Vista is a front row 6 bedroom, 10 bath estate. It is a beautiful 3 level home with amazing amenities. The gourmet kitchen and breakfast room open into the family room suite. There are 2 wine rooms, a 10 seat theatre, gym and sauna, and formal library. Outside you find not only an infinity edge pool and spa but also a pool pavilion with a bar, kitchen and media center. This home is listed at $13,899,000 and is 13,484 SqFt.

The last property is 8 Channel Vista Drive. Welcome to Villa “Settimo Cielo”. This incredible estate was designed by architect Rob Sinclair and decorated by designer Karyn Butera. Amenities include stone and fabrics imported from Italy, marble inlays, Marmi statute carved from white Carrera marble, black bottom pool, game room, gym, projection room, wine cellar and much more. This is a must see first hand home! It is listed at $13,500,000.

Currently, the average list price on these Pelican Crest homes is $11,260,425 and $1,089.23/SqFt. The average sold price is $4,275,000 and $600.00/SqFt. The average DOM is 155.

So what does that mean? Let’s hear from Conrad:

“The high-end market is undoubtedly feeling some pain now. In a time when more people are looking to downsize, palatial homes of the Pelican Coast are simply not in high demand.

There is clearly a discrepancy between seller’s minimum price and what buyers are will to pay. If we take a look at the average price per square foot of expired and cancelled listings over the past year, it has been $1,135 and $1,048 respectively. Compare that to the average sale price per square foot over the past year, it is $760. And the price buyers are willing to pay is the only number that changes much when we only look at the past 90 days. In that time span, the average price per square foot of the expired listings is $1,028. Only 2 properties have sold in Pelican Crest in the last 90 days. They may have sold close to the list price, but it was realistic to what the market will bear today…an average of $600 per square foot.

When we take a look at the active properties in Pelican Crest, you can determine which will sell fairly easily. It is those with a list price reflective of market demand. We have 16 active listings in Pelican Crest. The average price per square foot of those 16 is $1089.

We have seen this scenario play out in areas such as Corona del Mar. A majority of sellers may not have been in such financial straits, therefore unwilling to drop the price below their minimum. However, as time went on, we saw a dramatic decrease in prices across the board for CDM. Weather that was due to prolonged exposure to difficult economic conditions or simply wanting to get the home sold an on with their lives…I really don’t know. What I do know is we saw this discrepancy between sellers and buyers for some time, then they came closer together after such a long time of little to no sales.

It could stand to reason that this is what we are now seeing in the $4 Million plus markets of the Pelican Coast and Crystal Cove. I’m not trying to say that you can’t sell a home in the Pelicans for over $1000 per square foot, but the likelihood of finding a buyer willing to pay that today is remote. Sellers must be willing to own their homes for a significantly longer period of time if they choose to price too high. If it is to be sold at such a high price, the home has to be truly unique, and command such a price. Over the last 2 years, only three properties have sold for over $1000 per square foot. And only 5 over the past 5 years.

I don’t want to give the idea that price per square foot is the way to price luxury custom homes. By no means am I saying that. Each luxury home must stand on it’s own in terms of price and custom marketing plans. However, I find that price per square foot gives the best overview of market trends. And that is all I am doing in this blog…telling a story, giving a general market overview.

Perhaps we will see prices drop across the board in these luxury markets. Perhaps most of the sellers are in a position to wait out this market until prices reflect their acceptable minimum.

Whatever seller’s motivation, there are some incredible deals for buyers in this market.”

So what does that mean to me? At the most recent rate quotes, you can receive a jumbo 30 year fixed loan up to $2,000,000 at 5.5%. So, if you purchase a Pelican Crest home at $6,550,000 with 20% down ($1,310,000), your monthly payments would be estimated at $6,833.

For more information on these properties give Conrad Metz a call @ 949.735.9014 to set up a time to discuss how to get your future dream home!

Also, visit our website @ http://www.newportbeachmetzproperties.com and check us out on facebook @ https://www.facebook.com/MetzRealtyGroup

Welcome to beautiful Crystal Cove! This stretch of seaside cliffs is nestled right between Newport Beach and Laguna Beach. With 3.2 miles of sandy beach and 2,400 acres of undeveloped land, Crystal Cove is a perfect area for anyone. The woodlands make for great scenic hiking, mountain biking and horseback riding, while the offshore waters are designated as an “underwater park” for snorklers, scuba divers, surfers and swimmers.

The Crystal Cove Promenade, located on the coast highway, offers a variety of restaurants to satisfy any appetite. Bluefin offers upscale Japanese cuisine and Javier’s Cantina is a hotspot for Mexican food and also provides a full bar. If you’re looking for great food along with some live music, Mastro’s Ocean Club is a first choice.

Along with tasty treats, the Crystal Cove Promenade contains a number of shops. They range from Ann Taylor Loft to Eric Hanan Jewels to Trader Joes to get all your grocery shopping done. Your morning cup of coffee at Starbucks is just a short distance from home.

Golfing is convenient, with many beautiful courses close by. The Resort at Pelican Hill offers 36 holes set over 400 acres of land. Located in Irvine is the Shady Canyon Golf Club, which consists of 18 holes set over 300 acres.

Nautilus homes are located in the Crystal Cove area of Newport Coast, California. Nautilus is home to some of the most expensive and most beautiful real estate in Newport Coast. Nautilus at Crystal Cove offers single-level and two-story floorplans sized from approximately 3,182 to 4,102 square feet. The various plans offer highly desirable areas such as a bonus room, large master retreat, den, library, or tech room.

The first property is located at 4 Surfspray Bluff in Crystal Cove, CA. This is one of the most popular floor plans. It offers 4 bedrooms plus and office room off of the master suite. Throughout the home you will find quarter sawn oak floors and in the kitchen, granite countertops. For guests, there is a separate casita. This home boasts beautiful ocean and sunset views from the oversized backyard. A community center is located in the neighborhood that offers a pool and tennis courts. This home is 3,750 SqFt. and is listed at $3,580,000.

The next home is located at 14 Twilight Bluff. This spectacular 4 bedroom Mediterranean style home is designed around a neutral interior with upgrades throughout. Limestone floors, rich wood custom built-ins and of course incredible ocean and island views. The master suite includes a sitting room and lavish bathroom. On the second floor you will find a spacious bonus room with a built-in media center. Entertaining is perfect with a cozy outdoor fireplace, 3 fountains and a built-in barbeque. This home is 4,000 SqFt. and is listed at $3,695,000.

The thirst property is 28 Dunes Bluff. This contemporary home includes 3 palatial bedrooms with walk in closets and a master suite with its own private balcony and sundeck. This is the home you want to see if you are ready for those breathtaking ocean views. The back patio, living, gourmet kitchen, entryway and master suite are all perfect spots to watch beautiful southern California sunsets. Amenities include honed granite, crown molding, surround sound system and marble bathroom vanities. This home is 3,834 SqFt. and is listed at $3,795,000.

Currently, the average list price on these Nautilus Crystal Cove homes is $3,690,000 and $955.71/SqFt. The average sold price is $3,137,000 and $839.41/SqFt. Average DOM is 196 days.

So what does that mean? Conrad: “The high-end luxury market has is undoubtably sluggish right now. However, we have been seeing many positive signs in the under $2M market, that the above $2M should follow suit shortly. Price per square foot for this market has remained fairly stable for over a year now. So I have no doubt we are currently skimming along the bottom, and should begin a rebound soon.

If you are a buyer, now is an incredible time! Prices are low and stable, and interest rates are extremely low. Now is the time to capitalize on this perfect storm. Many of my clients want to instinctively time the market. I run through a scenario with all of them to demonstrate what a great time today is to buy.

Assume you want to buy a $2M property but believe prices are still going down (which they are not, but just play along with me). You think prices will drop another 10% (barring some drastic blow to our economy, this is highly unlikely). So you think you can buy your $2M house for $1.8M in 6 months.

If purchased today for $2M at current rates of 4.875%, monthly payments including property taxes and PMI would be about $10,417. Total payments over the life of the 30 year loan would be $3,750,239.

Now, today’s rates are something to get excited about. However, they have been kept low artificially in order to help stimulate the economy. Whenever I ask someone “where do you think rates are going in the near future?”, they all say “up”. I agree with them, and so do a lot of people much smarter than I.

So, let’s say you wait 6 months and incredibly, you can purchase that $2M dream home for $1.8M. But, these low rates everyone said wouldn’t last…didn’t. But they didn’t go up that much, only 1%. You put 20% down on a 30 year fixed loan at 5.875% (which still is not bad at all). Your monthly payments with property tax and PMI will be approximately $11,219. You will have paid a total of $4,039,057 over the life of the loan. That is a difference of $288,817!

This is an extreme example, assuming a 10% drop in prices. If you are thinking of buying and think prices are still going down, run the numbers to see for yourself. Just don’t get so focused on price because that is not the issue for you today. It’s payments! And today gives you great payments on low prices!”

So what does that mean to me? Well, the latest rates we received from our mortgage specialist is 4.75% up to $2,000,000 with 20% down. So, with an excellent credit rating, if you purchased a Nautilus home at $3,200,000 with 20% down ($640,000), your monthly payments would be estimated at $3,148 (not including Property Tax and PMI).

For more information on these properties give Conrad Metz a call @ 949.735.9014 to set up a time to discuss how to get your future dream home!

Also, visit our website @ http://www.newportbeachmetzproperties.com and check us out on facebook @ https://www.facebook.com/MetzRealtyGroup

Come take a look at 3 beautiful homes in the Oceana tract in Crystal Cove, CA. These following listings are located in a very luxurious area of Newport Coast.

The first property is located at 80 Archipelago. Relish in breathtaking coastal and island views from this 4 bedroom, 5 bath Santa Barbara style home. It features a covered porch, built-in BBQ, a court yard fireplace, bonus room, 3 car garage, as well as a central audio system. The current list price is $3,795,000 and is 3,940 SqFt.

The second property is a 5 bedroom, 5 bath home located at 36 Archipelago. This estate is Santa Barbara inspired with a splash of 1920’s Hollywood. Features include grand rooms, outside grounds with a fireplace, a pool and spa, and a built-in BBQ. Also included is a large kitchen opening to the family room, a large upstairs bonus room with a deck and a detached guest casita. It is a private lot, elevated for perfect ocean and sunset views. Currently, the list price is $4,680,000 and is 4,270 SqFt.

The third property is down the street at 16 Rockshore Bluff. Known as “Casa De Rosselet”, this home will truly take your breath away. This estate has Spanish villa details and architecture reminiscent of George Washington Smith. Features include antique lighting, floors made from handmade Spanish terra cotta and hardwood and incredible custom floor to ceiling glass doors revealing ocean views. It also includes a marble shower and many modern amenities such as a gourmet kitchen with granite countertops. It is has 3 bedrooms and 4 baths and is listed at $4,495,000.

Currently, the average list price on these Oceana Crystal Cove homes is $4,323,333 and $1,012.49/SqFt. The average sold price is $3,895,000 and $1,015.12/SqFt. Average DOM is 151 days.

So what does that mean? Let’s hear from Conrad: “The high-end luxury market has is undoubtably sluggish right now. However, we have been seeing many positive signs in the under $2M market, that the above $2M should follow suit shortly. Price per square foot for this market has remained fairly stable for over a year now. So I have no doubt we are currently skimming along the bottom, and should begin a rebound soon.

If you are a buyer, now is an incredible time! Prices are low and stable, and interest rates are extremely low. Now is the time to capitalize on this perfect storm. Many of my clients want to instinctively time the market. I run through a scenario with all of them to demonstrate what a great time today is to buy.

Assume you want to buy a $2M property but believe prices are still going down (which they are not, but just play along with me). You think prices will drop another 10% (barring some drastic blow to our economy, this is highly unlikely). So you think you can buy your $2M house for $1.8M in 6 months.

If purchased today for $2M at current rates of 4.875%, monthly payments including property taxes and PMI would be about $10,417. Total payments over the life of the 30 year loan would be $3,750,239.

Now, today’s rates are something to get excited about. However, they have been kept low artificially in order to help stimulate the economy. Whenever I ask someone “where do you think rates are going in the near future?”, they all say “up”. I agree with them, and so do a lot of people much smarter than I.

So, let’s say you wait 6 months and incredibly, you can purchase that $2M dream home for $1.8M. But, these low rates everyone said wouldn’t last…didn’t. But they didn’t go up that much, only 1%. You put 20% down on a 30 year fixed loan at 5.875% (which still is not bad at all). Your monthly payments with property tax and PMI will be approximately $11,219. You will have paid a total of $4,039,057 over the life of the loan. That is a difference of $288,817!

This is an extreme example, assuming a 10% drop in prices. If you are thinking of buying and think prices are still going down, run the numbers to see for yourself. Just don’t get so focused on price because that is not the issue for you today. It’s payments! And today gives you great payments on low prices!”

So what does that mean to me? At the most recent rate quotes, you can receive a jumbo 30 year fixed loan up to $2,000,000 at 4.875%. So, if you purchase an Oceana home at $3,895,000 with 20% down ($779,000), your monthly payments would be estimated at $16,000.

For more information on these properties give Conrad Metz a call @ 949.735.9014 to set up a time to discuss how to get your future dream home!

Also, visit our website @ http://www.newportbeachmetzproperties.com and check us out on facebook @ https://www.facebook.com/MetzRealtyGroup