Realty Digest by Scot Campbell May 2022

MAY 2022 / Circulation 19,500 Monthly

/ www.RealtyDigestOnline.com

Downtown HB | Seacliff | Edwards Hill | Huntington Harbour | Sunset Beach | Brightwater | Summerlane | Bolsa Landmark

1814 Main Street, “Park Area” Huntington Beach

Custom-Built Estate | Constructed in 2014 | Guest House Arrangement Close to schools and a Front Row Seat for the Annual 4th of July Parade!

6 Bedrooms | 5 Baths | 1 Half Bath | 5,563 Asqft | 7,625 SF Lot | 4 Car Garage New Listing | $3,850,000 | For 3D Tour & Details: www.1814Main.info

Happiness is Buying or Selling BEFORE Mortgage Rates

Rise Any Further

Yes, Mortgage Rates are up, but not to worry: “The sky is not falling!”

Rates have jumped up to 5.30%... and this is not good for home buyers. The rise in interest rates equates to about a 30% increase in monthly payments compared to the 2.75% “bottom” in mortgage rates seen in September 2021.

Certainly, the rise hurts affordability.

However, Huntington Beach is the most affordable of the Orange County beach towns, and many buyers who do not intend to own for more than 5 years are already looking into the 5/1 fixed products (which reduces their rate very attractively). The level of inventory is rising, yet still very low compared to historical standards. Homes are still selling, but home sellers should no longer anticipate a sale price “way above” similar neighborhood sales. On a very positive note, many Sellers are soon-to-be Buyers… and there is more selection now.

I have been an active Realtor for over 30 years in Huntington Beach. If you are having thoughts of selling your property, I will get you top dollar with a nice smooth escrow.

Sincerely, Scot Campbell SCOT CAMPBELL / COLDWELL BANKER-Campbell Realtors Global Luxury Specialist 714.336.0394 Mobile / scot@campbellrealtors.com / www.scotcampbell.com / DRE #00943759

How’s the Huntington Beach Market?

The “Days of Supply” is the best indicator of market conditions, and presently the reading is just 28 days indicating continued Strong Seller’s Market Conditions (despite the rise in mortgage rates above 5%).

The graph illustrates market conditions over the last eight years. The market reaction to the elimination of the mortgage interest deduction can be seen in Q4 2018 and Q1 2019. The immediate “CV-19 Shock” is visible in April-May 2020, followed by the Strongest Seller’s Market conditions ever seen… especially the months May 2021 & February 2022 which set records!

Although conditions do not favor sellers as much as 90 days ago, it is still a very good time to sell!

To read my complete report on the Huntington Beach Real Estate Market go to: www.HowsTheHBmarket.com

For an Instant Home Value Report for your home go to: www.HBhomeValue.com

MODERN OCEANFRONT HOME ON SAND | Sweeping Ocean & Sunset Views! www.16351sPacific.info

40’ X 70’ Corner Lot | Built in 2021 | Ab o ut 6,300 SqF t o f Living Area | 6 Bedro o m s 6 Ba t hs 2 H a l f Ba th s | 3 C a r Ga ra ge | Mult iple Ent er t aining Areas | Elevator

ON MARKET Call for Details & Showing Information | List Price $9,995,000

OCEANFRONT PIER COLONY PENTHOUSE Details & 3D Tour: www.200PCH332.com

Remodeled | About 1,500 SqFt of Living Area 2 Bedrooms + Loft | 2.5 Baths | 2 Secured Parking Spaces Prime Location | Guard Gated | Resort Quality Pool/Spa Pier Colony is the premier Oceanfront Condominium Resort community in Downtown Huntington Beach. No. 332 is the best located and most highly upgraded unit in the development. Amazing whitewater, pier, & sunset views, just steps to the sand!

ON MARKET | List Price $1,995,000

Plus $100,000 for Furnishings | Artwork | Electronics

16385 Maruffa Circle “Humboldt Island”

615 8th Street, “Downtown” Huntington Beach

3D Tour & Details GoTo: www.16385Maruffa.info

3D Tour & Details: www.6158thStreet.info

4 BR | 3.5 BR | 2,900 Approx. SqFt | 5,000 SqFt Lot

3 BR + Office | 2.5 BA | 2,550 Asqft | 3rd Floor Sundeck

Listed | $2,850,00 (Waterfront home & Rebuilt Boat Dock

Listed | $1,850,000 (Best Price on the Numbered Streets)

16362 Maruffa Circle, Huntington Harbour

16641 S.Pacific, Sunset Beach

105 Feet on Water | Over 4,600 SqFt of Living Area

Brandon Architects | On the Sand | 5 BR | 5.5 BA | Elevator

SOLD by SCOT | $4,710,000

SOLD by SCOT | $6,995,000 | Full Price Mulitple Offers

308 3rd Street, Huntington Beach

3355 Tempe Dr, “Seabridge” Huntington Harbour

SOLD by SCOT | $2,910,000 | Represented Buyer

SOLD by SCOT | Closed Record Price $1,110,000

3D Tour & Details: www.16362Maruffa.info

Asqft 2,976 SqFt | 3 BR | 3 BA + 2 Half BA Elevator | Built in 2019

3D Tour & Details: www.16641sPacific.info

3 BR | 3 BA | 1,580 Asqft | 2 Car Gar | Contemporary

3D Tour & Details: www.3355Tempe.info

Orange County Housing Summary Source: Reports on Housing 5/16/22

Many are jumping to extreme conclusions about the impact of higher rates, high inflation, and a potential recession on the housing market.

While the market is slowing, it is gradually evolving from its out of control, insane pace, to a normal Seller’s Market where pricing will be fundamental in finding success.

The Orange County supply is at 2,452, a sharp rise from the 994 homes on January 1st, but still far below the 3-year average prior to COVID (2017 to 2019) for this time of year of 6,255. That is 155% more than today, more than double. Even with a 348-home climb, or 17% rise, in the past couple of weeks, it is still off by 3,803 homes. That’s a lot to make up just to get back to more normal levels. Keep in mind that the inventory levels since 2012 have been remarkably muted compared to the Great Recession and it has become even more pronounced each year.

With swiftly rising mortgage rates so far this year, demand, the prior 30-days of pending sales activity, began to slide after reaching an early peak on March 31st, when it normally rises. After initially dropping slightly, demand has stabilized and rose in the past couple of weeks by 25 pending sales. It now sits at 2,179, which is still 21% lower than the 3-year average prior the COVID, and 30% lower than last year at this time. But it is not going to plunge from here.

The housing market has already digested 5% plus rates and there are still plenty of buyers looking to purchase at these higher rates. The recent rise is indicating that demand has indeed become more stable and has found its footing.

Mortgage Rates Continue to Increase MCLEAN, Va., May 12, 2022 -- Freddie Mac today released the results of its Primary Mortgage Market Survey, showing that the 30-year fixed-rate mortgage averaged 5.30 percent.

“Homebuyers continue to show resilience even

though rising mortgage rates are causing monthly payments to increase by about one-third as com-

pared to a year ago,” said Sam Khater, Freddie Mac’s Chief Economist. “Several factors are con-

tributing to this dynamic, including the large wave of first-time homebuyers looking to realize the

dream of homeownership. In the months ahead, we expect monetary policy and inflation to dis-

courage many consumers, weakening purchase demand and decelerating home price growth.

Scot Campbell uses the Same Quality Imagery to market all his listings whether the home is a 2 Bedroom Cottage or this $2.368 Million Off-Water Trinidad Island home which he Sold for a Record Price!

Link to the Realtor MLS Listing with HDRI Enhanced Photography: www.3531VentureMLS.info When Scot Campbell put 3531 Venture on Trinidad Island in Huntington Harbour on the market, all the HDRI enhanced photography, 3D tour, and Drone Video were instantly published in the MLS. Within moments buyers began viewing images & tours… and setting appointments for a personal viewing.

There were multiple offers immediately following the two “showing days”… the home was bought by a wonderful family who will raise their children in this prized neighborhood.

There were 90 views of the walk-through 3D tour in the first 3 days the home was on the market, and over 15 buyer groups who were enticed to come for an in person showing after viewing the imagery!

If you would like your home marketed with the same quality HDRI enhanced photography, 3D Tour, and Drone Video that SOLD 3531 Venture Drive well above asking price, contact Scot Campbell.

Virtual Tour:

www.3531Venture3Dtour.com

Aerial Tour: www.3531VentureAerial360tour.com

6621 Polo Circle, “Edwards Hill” Huntington Bch

614 16th Street, “Downtown” Huntington Beach

Over 7,600 SqFt of Living Area on 15,600 SqFt Flat Lot

3 BR | 3 BA | 2Half BA | 2,900 Asqft | Middle Level FR | Sundeck

SOLD by SCOT | $4,696,000 | Represented Seller

SOLD by SCOT | $2,215,000 | Represented Buyer

19857 Saltwater Circle, Huntington Beach

525 21st Street, “Downtown” Huntington Beach

3D Tour: www.19857Saltwater.info

3D Tour & Details: www.52521st.com

3D Tour & Details: www.6621Polo.info

www.61416thStreet.info

3 BR | 2 BA | 1,386 Asqft | 2 Car Garage | Plan B

Oceanpointe Home | 3 BR | 3.5 BA | 2,696 Asqft

SOLD by SCOT | $1,052,000 | Represented Seller

SOLD by SCOT | $2,050,000 | Represented Seller

7202 W. Oceanfront, Newport Beach

3243 Moritz Dr, “Broadmoor” Huntington Harbour

4 BR | 3.5 BA | 2,790 SF | 2 Car Garage | 2 Car Driveway

2 BR | 2 BA | 1,348 Asqft | 2 Car Garage | Completely Remodeled!

SOLD by SCOT | SOLD Full Price | $7,750,000 | Represented Seller

SOLD by SCOT | $1,275,000 | Scot Represented Buyer & Seller

On the Sand with Beautiful Sunsets!

3D Tour & Details: www.3243Moritz.info

More Closings by Scot Campbell

www.10505Morada.info

www.308Huntington.info

www.19481Pompano103.info

Represented Seller

www.52814th.info

www.6197th.info

Represented Buyer & Seller

www.7922Rhine.info

Represented Buyer & Seller

Represented Seller

www.62718th.info

Represented Buyer

Represented Seller

www.216Hartford.info

Represented Seller

Represented Seller

W hat’s My Home Worth?

GoTo: HBhomeValue.com

After a long, part intellectual and part philosophical, discussion with Scot Campbell about conditions in both the real estate market and stock market, as well as the situation in our country and the world, in February we made the decision to sell our house immediately rather than wait for either the traditional spring/summer selling season, or our retirement 8 months later. It was obvious from our first conversation that there were certain things about Scot that distinguishes him. Unlike many Agents, Scot is a Real Estate Broker, and a thoughtful articulate fellow who he has built his (30+ year) career of Huntington Beach real estate sales on a solid foundation of formal college education. He helped us gain clarity on why, given our particular situation, the sale of our home was a time-critical imperative, namely

(1) concern that actions being taken by the Fed to fight inflation would cause mortgage interest rates to rise, which would cause potential buyers to be able to pay less, (2) concern that the rise in interest rates would also cause the stock market to endure a sizeable (some would say, long overdue) correction, which would cause some potential buyers (i.e., those having to sell stock for their down payment or all-cash offer) to be able to pay less, (3) concern about missing the (already closing) window where a ridiculously limited supply of homes on the market, coupled with a huge pent-up demand by potential buyers, had resulted in the laws of micro-economics shifting home prices drastically upwards, making for a market dramatically favoring sellers, and (4) concern that world events (i.e., COVID, Russia’s invasion of Ukraine) would undermine the confidence of potential buyers to stretch higher to purchase a home.

After interviewing several agents, the decision to go with Scot was a surprisingly easy one. There is significant “daylight” between him and his nearest competitor relative to exploiting technology to optimize the marketing of a home. As if his professional high-dynamic range imagery (HDRI) photography were not enough, other impressive tools in his toolbox include overhead drone videos of the neighborhood and surrounding area, and 3D tours of the home with point-and-click supplemental information (i.e., details about the home’s kitchen appliances, home automation, home theater components, flooring, etc). He is also very well-connected with other specialists that enhance your real estate transaction. Indeed, his Rolodex (OK, he’s not that old-school . . . his cell phone directory) is comprised of numerous top-notch professionals that he engages, and they bring their A-game. For example, he referred us to an interior designer named Suzanne Riggs, owner of the company Design To Sell. She proficiently replaced all of our outdated décor and belongings with high-end staging furniture, artwork, and accessories making it easy for buyers to envision themselves living in our home. We are absolutely certain this resulted in the intended over-whelming emotional connection that causes buyers to think to themselves “I’ve just gotta have this house”, resulting in a willingness to pay more to consummate the deal and achieve their dreams. “Home is where the heart is” . . . and Scot gets that. Having taken the time to truly understand the somewhat unique aspects of our home, and what makes our neighborhood so special, Scot was well-postured to credibly describe our place, and what it would be like to raise a family there. No doubt, potential buyers left our home feeling a rush (of emotion) that they didn’t soon forget.

To be honest, Scot’s pricing strategy initially came as a bit of a surprise, but in the end it effectively instigated the intended “bidding war” that drove the initial offers very significantly above the original asking price. Likewise, we were a bit surprised when he originally conveyed his plan to forego holding a traditional Open House. This was yet another example of his profound experience being brought to bear to our benefit. He did by-appointment showings (so no looky-loo neighbors) on a single weekend, and it produced 5 clean (i.e., no loan contingency, no appraisal contingency, free 14-day rent back, etc.) offers, including 1 that was all-cash. At this point, Scot was just getting warmed-up. He continued applying his expertise by vetting each potential buyer and assessing the likelihood that each would ultimately close, mitigating the risk that we would commit to one that would be unwilling or unable to perform. Likewise, witnessing Scot in action during negotiations was tantamount to participating in a master class, and his expert advice continued to instill confidence in us that we were in good hands throughout an uneventful home inspection, termite inspection, closing, and final walk-through. During our very first conversation, we recall feeling skeptical when Scot promised us that we’d only deal with him, the uber-experienced Broker, and not get passed-off to any lessor experienced agents the second the listing agreement was signed as happens with virtually every other big-name Agent in the area, We also giggled when he said the communication by text/e-mail/call would be both timely and thoughtful. Boy, were we wrong. Scot started strong, and (more importantly) finished strong. He has a no-nonsense style that is entirely refreshing, and he will leave little doubt he knows what he’s doing.

When the time comes to decide who to entrust with helping you sell your home, Scot Campbell is worthy of your consideration.

COLDWELL BANKER Campbell Realtors 1720 Pacific Coast Hwy, Suite 101 Huntington Beach, CA 92648

Local Postal Customers

Having Thoughts of Selling your Home?

If so, email/text me the address, and I will send you a Custom Home Value Report… or order an instant value report at: www.HBhomeValue.com

Want to see All the Recent Sales Activity in your Neighborhood?

I post Market Updates monthly for: Downtown HB, Seacliff, Edwards Hill, Huntington Harbour, Brightwater, Bolsa Landmark, & Summerlane at: www.HBneighborhoodSales.com

How is the Huntington Beach Market?

Read a Monthly Report at: www.HowisTheHBmarket.com

How is the Orange County Market?

Read a Quarterly Report at: www.HowisTheOCmarket.com

SCOT CAMPBELL / COLDWELL BANKER-Campbell Realtors Global Luxury Specialist 714.336.0394 Mobile / scot@campbellrealtors.com / www.scotcampbell.com / DRE #00943759 The property information herein is derived from various sources that may include, but not be limited to, county records and the Multiple Listing Service, and it may include approximations.

Although the information is believed to be accurate, it is not warranted and you should not rely upon it without personal verification. ©2022 Coldwell Banker. All Rights Reserved. Coldwell Banker and the Coldwell Banker logos are trademarks of Coldwell Banker Real Estate LLC. The Coldwell Banker® System is comprised of company owned offices which are owned by a subsidiary of Realogy Brokerage Group LLC and franchised offices which are independently owned and operated. The Coldwell Banker System fully supports the principles of the Fair Housing Act and the Equal Opportunity Act.