Perry Property Advisors

Sold: Cliff Drive, #1, Laguna Beach, California

This extensively remodeled ocean view condo is just steps from Main Beach and Downtown. Remodel includes newer tumbled travertine and slate bathrooms, newer granite topped vanities, as well as newer baseboards and recessed lighting. The property also offers a large balcony that has great ocean and city light views.  

Offered at $859,000
 

Sold: 801 Canyon View Drive, Laguna Beach, California

This stunning view property was formerly a personal residence of a renowned local designer. With unobstructed views of Downtown, Main Beach and Catalina Island, this property offers distressed wood floors, open beam ceilings, three fireplaces, and an impeccable sense of taste throughout the design of the property. The parcel also offers a tranquil English Garden landscape with meandering paths, view decks, and a large outdoor entertaining area.

Offered at $2,649,000

SOLD: 386 Locust Street, Laguna Beach, California

Located on one of the most sought after of the highly coveted Tree Streets of North Laguna, this charming cottage sits on a flat parcel with a large front yard. Just steps from Laguna Beach's pristine coves, restaurants and shopping, this property offers two bedrooms, two bathrooms as well as an additional studio. Rarely do opportunities like this arise in one of Laguna Beach's most desirable areas.

PROPERTY DETAILS:
3 Bedroom
2 Bathrooms

1,200sq. feet estimated
6,125 lot size per assessor

Just Sold: 470 Shadow Lane, Laguna Beach

Those that have been fortunate to have spent time in Laguna Beach know the rarity of opportunities to purchase property on the highly coveted street of Shadow Lane. Nestled just a few blocks from some of Laguna Beach's most picturesque coves as well as being just a short stroll from Bluebird Park, this was truly a unique property. A recent master bedroom addition offers vaulted ceilings as well as spectacular ocean and Catalina Island views. 

Mortgage payment protection plans boom

Is there a rainy day in your personal job forecast? Not a surprising thought considering rising unemployment rates. Rainy Day Foundation in Washington D.C. is offering a mortgage protection plan. IF a home buyer loses their job they can qualify to receive up to six months mortgage payments.

Nor would it be surprising if uncertainty about your income is a major barrier keeping you out of the home-buying market this spring. That's why a previously obscure charitable group based in Washington, D.C. -- the Rainy Day Foundation -- is doing a booming business in what's called the mortgage payment protection niche.

For the complete article see the L.A. Times Sunday April 26, 2009.     

Reverse Mortgages Pay It Forward

Older Americans have a lot to worry about in this economy. But for homeowners age 62 and older who own their home or have a low balance on their home loan, a reverse mortgage may present an untapped source of wealth--or simply a means to pay bills in hard times and still remain in their home.

How; a limp sum payment, a line of credit, a variable monthly payment or a combination of these. For the complete article check out the April/May edition of California Real Estate. 

Orange County Home Sales up 40%

In the first half of March home sales in Orange County were 40%.  For eight months in a row home sales are higher than the same month a year earlier.  Read the article at www.http:// on page Three.

Matthew Perry a Broker associate and GRI with the Newport Beach Coldwell Banker office has provided you with this update. Matt's office is located at 140 Newport Center Drive, Newport Beach CA 92660, suite 100. Matt represents home buyers and sellers in  Newport Beach, Newport Heights, Costa Mesa and Laguna Beach.

Preview Matt Perry's targeted client services and his customized proven system TheSource™--your premium real estate tool by engaging Matt's user friendly web site. In addition, Matt's team provides foreclosure and REO sales assistance.

You can reach Matt Perry at 949-721-5433 or matt@perrypropertyadvisors.com

Wells Fargo Mortgage Demand Surges

Wells Fargo, the country's largest mortgage lender,  said its mortgage volume has surged and they are hiring 5,000 additional workers to handle the load. In the first three months of this year they originated 450,000 home loans, nearly twicw the the number in the fourth quarter of 2008. For the complete article see the L.A. Times Business section Thursday, April 23rd.  

Oportunities for Homeowners

Record high home affordability plus low mortgage rates provide  unprecedented home buying opportunities... plus an $8,000 tax credit for first-time homebuyers. Check View page 3

New Normal

Newport Beach CA --  Paul McCulley, Managing Director Pimco, on CNBC this morning discussed that in terms of an investment  outlook:

1- We now have a new normal

2- You can't just re-run the clock from the past

3- Valuations have changed

4- We will have new areas of risk aversion

This was actually a revisit to a topic he covered in 2008 but is more relevant than ever.

The government and markets must have a "happy" coexistence, said Paul McCulley, Pimco managing director, on CNBC's "Squawk Box" on Thursday.

“As we get through this recession we’ll see a new union, if you will, between the invisible hand of the market and the visible fist of the government,” said McCulley.

However, profit growth will decline as the economy deleverages, or sheds debt, he said.

FULL STORY HERE >>