Quarterly Real Estate Report March 2021
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After a wild ride in 2020, our business soared 30% over the prior year even with the impact of COVID-19. We ended the year with 85 successful transactions and closed/pending sales of $170 million! Even more exciting is the record-breaking pace and forecast for 2021. By all measures, January and February are breaking all records with unit volume increasing 22%. Prices are up 6.7% over the past 12 months with single family home values leading the way at +11.9%. With inventory down by 43% and demand up by 72%, the expected market time is now less than 24 days. Combining these facts with record low interest rates and we have the hottest Sellers market on record! Buyers are scrambling to purchase before rates and values rise which further impacts their affordability. Various real estate sources are predicting 6-8% appreciation in 2021 and based on the YTD activity, this appears to be a realistic expectation. We are experiencing unique market conditions where both Sellers and Buyers have reasons to act now! If you are a Seller, please call us for a free no-obligation valuation and marketing plan for your home. There is simply no better time or opportunity to be a Seller! If you are a Buyer, we can help structure winning offers and have more than $50 million in off-market listings to take advantage of low interest rates and values before prices further accelerate. We thank all our valued clients for the support, loyalty and confidence in our ability to deliver superior results in the shortest amount of time. We are in the business of setting records and our “white glove” service and Compass Concierge program provides a seamless experience by managing everything from start to finish. The Private Client Group OC stands ready to deliver nothing less than 100% satisfaction in meeting all your real estate goals.
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Record Breaking Year
$170M+ YTD Sold & Open Escrows
$82M+ Current Listings
85
Transactions YTD
+30% Sales Increase YOY
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UNPRECEDENTED SELLER’S MARKET CALLING ALL HOMEOWNERS: Low Supply + High Demand + Historic Low Interest Rates = Incredible Opportunity 2 0 2 1 V S 2 0 2 0 C O M PA R I S O N : Record low inventory
43% Median sales price YOY
11.9% Avgerage days on market YOY
24
vs. 48 previous year
Luxury home demand
72% YOUR OPPORTUNITY: Take advantage of a strong seller’s market and cash in Contact us to see if we have a buyer for your home or for a strategic marketing consultation to maximize value in the shortest time Page 4
Success Story: 2325 16th Street, Newport Beach R E CO R D S A L E $ 3 , 6 3 0, 0 0 0 | 4 B e d s | 4 . 5 B a t h s | 3 , 4 5 0 S q . F t
Rendering
Completed
Rendering
Completed
Rendering
Completed
It can be challenging to visualize what new construction will look like when it’s in progress. Using our state-of-the-art architectural renderings, we helped the buyers of this modern new construction home envision their reality and closed on this property while still in the construction phase...with a record sale! Page 5
MEET THE TEAM Top 10 Team In Orange County Setting Records Across the County
Dean Lueck
Steve Walsh
Laura Cowie
Art Heckman
Tara McNabb
Danielle Benavides
With over $1 billion in luxury home sales and more than 1,000 successfully closed transactions, our track record, market knowledge, creative marketing solutions and commitment to unparalleled levels of personalized customer service has earned us the highest satisfaction ratings.
1000 Successfully Closed Transactions Page 6
www.pcgroupoc.com
Andy Doyle
Lauren Firner
Michael Hahn
Kristen Davenport
Brooks Crocker
Stacy Shi
We pride ourselves on being your primary point of contact, not delegating you to an assistant. Our one-on-one communication and partnering with you every step of the way is paramount to our success. Our strong marketing and merchandising team allows us to focus on what’s important: selling your home at a record price!
Over $1 Billion Sold Page 7
Featured Listing
121edgewater.com 121 E Edgewater, Newport Beach | $7,295,000 4 Bed | 3.5 Bath | 3,434 SF Mesmerizing harbor, city lights and mountains from this recently renovated, corner bayfront home with 45’ frontage in a quiet area of Newport Peninsula. No expense was spared creating this magnificent home of modern coastal architecture using exceptional materials and quality craftsmanship. Enjoy the sandy beach and launch your favorite water toy while enjoying the action of Newport Harbor. Glass entry doors open to a soaring atrium with blue lava stone flooring and iron railing. The Great Room offers dining and entertaining areas with 8” white oak hardwood floors by Gaetano, limestone fireplace and new Fleetwood aluminum doors and windows opening to the stone terrace with Lynx BBQ and fire pit for alfresco dining. The kitchen features Thermador appliances, 240 bottle wine display, cabinetry of exotic Sycamore and Wengy woods, quartz slab waterfall island, Blue Lava stone counters and mosaic backsplash. Elegant powder room and downstairs office could double as a 4th bedroom. The master suite with covered 240 sf balcony offers “jaw-dropping” views, glowing fireplace and opulent master bath with jetted spa tub overlooking the waterways. 2 secondary bedrooms with en-suite bathrooms as well as a loft. The 575 sf rooftop deck offers views in all directions and ideal for large groups. Central A/C, Sonos sound, garage with epoxy flooring, electric car charging. Electronic window shades, new roof and full exterior remodel. RENTAL OF DOCK SPACE FOR A DUFFY NEXT DOOR MAY BE POSSIBLE!
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Record Sales | Last 90 Days
2325 16th Street, Newport Beach $3,630,000
Highest price ever paid on that street.
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27091 Pinario, Mission Viejo $941,500 Highest sale in the tract. Sold in 24 Days.
24092 Atun, Dana Point $1,325,000 Highest sale in the tract. Sold at $30,000 over list price in 4 days with 6 offers.
26281 Via Corrizo, San Juan Capistrano $955,000 Highest price in the tract. Over 30 showings the first day with 9 offers in 4 days.
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Just Listed
Live/Work Lofts
502-504 Balboa, Newport Beach 3 Bed | 3.5 Bath | Approx. 2,485 SF | $2,995,000 The ground floor offers approx. 737 SF of versatile open-concept space with walls of windows for plenty of natural light, serves as a great commercial space, home office or main-level entertaining area. This home will have highend finishes with Wolf Sub-zero appliances, custom cabinets, and wide plank hardwood floors. 4 car parking! 2 car garage, 2 carport. Located just moments to the beach, bay, Balboa Fun Zone, Balboa Pier, Marina Park and more. There is no better place to work, live and play – day or night.
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Featured Listing
2624 Ocean Blvd, Corona Del Mar 3 Beds | 3.5 Baths | 2,688 SF | $7,295,000 BREATHTAKING VIEWS! If you have been waiting to find that “special” property with spectacular sunsets, look no further. Sit and relax on the over sized front patio with built in BBQ overlooking the Newport Harbor jetty entrance, the world famous “Wedge” surf, sparkling Catalina Island & sunset views and Palos Verdes in the distance. This custom home designed by renowned architect, Ian Harrison, sits on one of the most prestigious streets in Corona Del Mar.
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Compass Concierge Compass will cover the upfront costs of select services recommended by agents to increase the selling price and shorten the time on market. We’ll manage the entire process and maximize your home’s full potential with reimbursement at closing.
Strategic Staging
New Furniture
Fresh Paint
New Flooring
SERVICES MAY INCLUDE Staging Deep-cleaning Decluttering Cosmetic renovations Landscaping Flooring Page 14
Interior + exterior Painting HVAC Roofing repair Moving + storage Pest control
Custom closet work Fencing Electrical & Plumbing Countertops Kitchen improvements Bathroom improvements
Merchandising Case Studies 1948 Santiago, Newport Beach We sold this property in only 14 days after using our Compass Concierge Program, fronting the cost for staging the home, painting and pricing it right. With our guidance, after being listed for almost 4 months without staging and testing a higher price than the market would bear, the sellers agreed to trust our pricing strategy and allowed us to stage the home, making the necessary changes in order to maximize the amazing selling points of the property. We relaunched with all new marketing, competitive pricing and within 2 weeks we had a flurry of showings and an all cash offer that made it to the finish line. The impact of a great first impression and attractive pricing can make a significant difference in the time it takes to sell and the way a buyer perceives the need to act quickly. Our strategies are designed to help our clients maximize their value in the shortest amount of time and we would like to invite you to become one of our success stories.
Before
After
Before
After
32761 Camaron, Dana Point With strategic planning and the use of our Compass Concierge program, we spent $16,000 on simple, but impactful home improvements. Within 3 weeks, the property was back on the market and in just 5 days we successfully negotiated multiple offers to put the home under contract for +$99,000 more than what our client purchased it for less than 30 days before and +$6,000 over list price.
Before
After
Before
After
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PCG 2020 SUCCESS STORIES 423 Redlands Avenue, Newport Beach $4,200,000 Successfully represented buyers in multiple offer situation.
2021 Santiago, Newport Beach $3,900,000 Represented buyer and seller - sold in 20 days.
2325 16th Street, Newport Beach $3,630,000 New construction sold before completion using PCG architectural renderings.
19375 Countrywood Drive, Yorba Linda $3,400,000 3rd highest sale in Yorba Linda for 2020. Page 16
11 Augusta, Coto de Caza $1,925,000 Sold off market before listed using Compass private exclusive at 98% of asking price. Previously listed by 2 other agents for 943 days.
118 36th Street, Newport Beach $1,625,000 Sold off market before listing at 100% of asking price.
32761 Camaron, Dana Point $1,205,000 Sold for $100K more than the seller paid a few months before listing using Compass Concierge. $99,000 return in 71 days.
34 Risero Drive, Mission Viejo $955,000 Sold in 4 days at $15k over list price with 8 offers. Arranged a free 6 week lease back for sellers. Page 17
2020 Sales Address
City
Price
31597 Table Rock 112 S La Senda 2015 Leeward Lane 423 Redlands Avenue 2021 Santiago 19375 Countrywood Drive 1912 Leeward 1912 Leeward 34887 Doheny Park Place 413 E. Edgewater 413 E. Edgewater 112 Via Yella 1015 Mariners Drive 1015 Mariners Drive 21 Harbor Ridge 523 W. Balboa 2612 Crestview Drive 1846 Tradewinds Lane 6 Summer House 213 Seaview 901 Avenida Presidio 9522 James Circle 521 Iris Avenue 71 Marseille 30661 Hunt Club 218 W Avenida Alessandro 1515 Priscilla 8 Lone Wolf 424 Vista Parada 424 Vista Parada 311 Fernando 430.5 Heliotrope 33871 Calle La Primavera 118 36th Street 124 Calle Redondel 33740 Paseo del Puerto 33740 Paseo del Puerto 32761 Camaron 26882 Calle Maria
Laguna Beach Laguna Beach Newport Beach Newport Beach Newport Beach Yorba Linda Newport Beach Newport Beach Capistrano Beach Newport Beach Newport Beach Newport Beach Newport Beach Newport Beach Newport Beach Newport Beach Newport Beach Newport Beach Newport Beach Manhattan Beach San Clemente Villa Park Corona Del Mar Laguna Niguel San Juan Capistrano San Clemente Newport Beach Coto de Caza Newport Beach Newport Beach Newport Beach Corona Del Mar Dana Point Newport Beach San Clemente San Juan Capistrano San Juan Capistrano Dana Point Dana Point
$8,300,000.00 $7,255,000.00 $4,726,500.00 $4,200,000.00 $3,900,000.00 $3,400,000.00 $3,225,000.00 $3,225,000.00 $3,200,000.00 $3,125,000.00 $3,125,000.00 $2,850,000.00 $2,800,000.00 $2,800,000.00 $2,433,000.00 $2,399,000.00 $2,378,500.00 $2,375,000.00 $2,325,000.00 $2,160,000.00 $2,150,000.00 $2,150,000.00 $2,000,000.00 $1,888,000.00 $1,885,000.00 $1,795,000.00 $1,775,000.00 $1,735,000.00 $1,725,000.00 $1,725,000.00 $1,695,000.00 $1,630,000.00 $1,575,000.00 $1,525,000.00 $1,450,000.00 $1,210,000.00 $1,210,000.00 $1,205,000.00 $1,200,000.00
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Address
City
Price
23478 Ridgeway 28179 Via Del Mar 28461 Springfield Drive 32761 Camaron 25920 Pacific Point 270 Villa Point Drive 807 Carnaros 67 Greenhouse 34 Risero Drive 27091 Pinario 650 Hawk Hill Trail 421 Vista Trucha 421 Vista Trucha 26626 Beecher 34475 Calle Carmelita 34475 Calle Carmelita 31 Pierremont 24342 Via Santa Clara 24816 Jeronimo 24081 Barquero Drive 21891 Camargo 5872 Camphor Avenue 21912 Cosala 21498 Bastia
Mission Viejo San Juan Capistrano Laguna Niguel Dana Point Mission Viejo Newport Beach San Clemente Irvine Mission Viejo Mission Viejo Palm Desert Newport Beach Newport Beach Robinson Ranch Dana Point Dana Point Aliso Viejo Mission Viejo Lake Forest Mission Viejo Mission Viejo Westminster Mission Viejo Mission Viejo
$1,190,000.00 $1,150,000.00 $1,124,000.00 $1,110,000.00 $1,100,000.00 $1,050,000.00 $1,007,000.00 $979,000.00 $955,000.00 $941,500.00 $905,000.00 $900,000.00 $900,000.00 $875,000.00 $855,000.00 $855,000.00 $840,000.00 $832,000.00 $830,000.00 $804,000.00 $769,900.00 $757,000.00 $750,000.00 $710,000.00
113 Colony
Aliso Viejo
$655,000.00
28342 Modjeska
Modjeska Canyon
$647,000.00
26576 Mambrino
Mission Viejo
$615,000.00
125 Chadron Circle
Ladera Ranch
$575,000.00
43997 Eaglebluff Ct
Temecula
$500,000.00
24732 Mahogany Wood
Wildomar
$485,000.00
429 Sycamore Street
Santa Ana
$480,000.00
24704 Teakwood
Wildomar
$478,000.00
89 Waxwing
Aliso Viejo
$461,000.00
25885 Trabuco Road, #230
Lake Forest
$420,000.00
19431 Rue De Valore, #7A
Lake Forest
$419,000.00
1150 Palm Canyon Drive, #68
Palm Springs
$255,000.00
85 CLOSED TRANSACTIONS: $130,758,330
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Luxury is an Experience,
Not a Price Point
Although Compass Real Estate sells some of the world’s most expensive properties, it is important to highlight that luxury is an experience, not a price point. We represent homes of the highest quality in all categories. in 2020, 68% of PCG’s transactions were properties under $2 million.
2020 Transactions by Closed Volume
14%
$3 Million and Up
38%
16%
Up to $1 Million
$2 - $3 Million
30%
$1 - $2 Million
Average Days On Market: 42 Average List vs Sell Price: 96.7% Achieved Average Sales Price: $2,380,000 Success Rate: 96% Information per CRMLS for 2020- deemed reliable but not guaranteed. Compass is a real estate broker licensed by the state of California and abides by equal housing opportunity laws. License number 01527365. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.
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CONNECTING THE COAST TO THE DESERT
If you are seeking a home in the greater Palm Springs Area, we can help! PCG sold 10 homes in the desert area last year and understands the market, country club communities, and amenities to find the best options to meet your personal needs from Palm Springs to La Quinta. From income properties, primary residences or second homes, we are ready to help find and manage your new home in the beautiful Coachella Valley. Call us to arrange a tour!
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Feature Property
Winery and Vineyard Estate 38280 Via Majorca, Murrieta | $6,995,000
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I TA L I A N I N S P I R AT I O N S OU T H ER N CA LI FOR N I A L U X U RY R A N C H E S TAT E Perched brilliantly atop the prestigious Santa Rosa Plateau in rolling foothills, this stunning Majorca Vineyards estate sprawls over 57 contiguous treecovered acres. Upon arrival, you’re transported to rural Northern Italy—replete with rolling hills, a temperate climate and European-inspired design elements. This ultimate private retreat sits 21 miles northeast of the Pacific Ocean at an elevation of 2,120 feet, in the esteemed estate community of La Cresta. Ocean breezes from the Pacific escarpment provide cooling afternoon temperatures ideal for vineyards and active lifestyles, while abundant amenities offer a comfortable environment. Meticulous and well cared for, this property has been under development by the same ownership for two decades with an investment of more than $6M in addition to their original acquisition price.
ESSENTIALS Amenities Helipad | 500,000 gallon lake | 4,950 vines | Rockscape pool and spa | Equestrian facilities | BBQ/Picnic area | Fruit and Avocado Orchard | Approx. 5 miles of welldeveloped roads | 2 wells and industrial generator.
56.65
4
acres of 6 contiguous parcels
car garage
1992
7,212
main residence completed
main residence including pool
5
2,200 SF
bedrooms
winery and apartment
8
1,000
bathrooms
cases wine production
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Sell your home and keep your Privacy with Compass Private Exclusive Listing your home as a Private Exclusive allows you to control what information is shared about you and your most personal asset - your home - while still getting exposure to top agents at Compass. What to expect: Discretion, Flexibility, Quality, and Value.
Success Story 11 Augusta, Coto De Caza
$1,930,000
5 Bed | 5.5 Bath | 5,389 SF Sold off market, before listed using Compass Private Exclusive at 98% of asking price. This home was previously listed by 2 other agents for 943 days.
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Pocket Listings
PCG has more than 20 off market and coming soon listings across all of Orange County. Contact us today to see if we have the home you have been waiting for before it hits the market. Page 25
Notable Sales
900 E Balboa | In Escrow Newport Beach | $9,995,000 Amazing waterfront estate on the peninsula
10 Strawberry Lane | Sold San Juan Capistrano | $5,200,000 Page 26
1615 Anita | Sold Newport Beach | $3,680,000 New construction sold before completion above asking price
1915 Leeward | Sold Newport Beach | $2,850,000
509 Poppy Ave | In Escrow Corona Del Mar | $3,295,000
30521 Shelter Canyon | In Escrow Trabuco Canyon | $2,845,000
4611 Winthrop | In Escrow Huntington Beach | $1,320,000
16 Byron Close | In Escrow Laguna Niguel | $1,399,000
New construction sold before completion
Sold in 6 days for 106% of list price. Previously listed by another agent and received no offers.
1633 Highland Dr | Sold Newport Beach | $2,995,000 100% list price, represented buyer and seller
2nd highest price ever paid in Trabuco Canyan
Highest price in the tract
14 Viewpoint | Sold Laguna Niguel | $1,075,000 Page 27
Featured Listing
20 Arrivo, Mission Viejo Ca 92692 4 Bed | 2.5 Bath | 2,600 SF | 5,100 SF Love and attention to detail are evident the moment you step into this incredible Pacific Hills stunner. From the moment you kick off your shoes, there is that special feeling of ‘home’. Featuring four bedrooms plus large downstairs converted bonus room (easily a 5th bedroom), soaring cathedral ceiling, custom hardwood flooring, a perfect remodeled eat-in kitchen, converted loft and homework space, pool sized lot, and much more. Located on a quiet cul de sac, a block from Pacific Hills park, this home has it all.
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IS IT A GOOD TIME T O B U Y R E A L E S TAT E ? R E C O R D L O W R AT E S = IMPROVED AFFORDABILIT Y Increase purchasing power by 11% over 2020 and 31% over 2018
P R I C E O F H O M E YO U C A N A F FO R D N OW C O M PA R E D T O 2 0 2 0 A N D 2 0 1 8
2020 Rate: 3.60% Desired Mortgage Payment of $3,000
$825,000
2018 Rate: 5.00% Desired Mortgage Payment of $3,000
Today’s Rate: Extra Purchasing 2.77% Power Now $916,250
$91,250
Today’s Rate: Extra Purchasing 2.77% Power Now
$698,750
$916,250
$217,500
Mortgage payment is principal + interest only. Assumes 20% down payment.
B E AT T H E R I S I N G P R I C E S A N D I N T E R E S T R AT E S Take advantage and purchase before the projected 6-8% market appreciation for 2021. 2021 vs 2020 Comparison
43%
Fewer homes on the market
21%
Higher demand
6 8% -
Appreciation projected in 2021
Buy NOW before prices and interest rates increase which limits affordability and buying power! Call me to find out how about our off-market listings and how we structure and present winning offers in this Page 29 highly competitive market.
SEE WHY OUR CLIENTS
LOVE US
“In a few short months, I am happy to say that Laura and her team secured not only the highest per sq foot sales price in the neighborhood but also the highest sales price (with our home being nearly 1000 sq ft smaller than other sales)! The experience was truly wonderful and I cannot give Laura any greater recommendation. 6 Stars!” Phillip D.
“Steve helped sell our family home quicker than we anticipated. He got our home sold in 30 days when our neighborhood’s days on market average was close to 200. We were advised on home staging that ultimately helped the home sell quicker and for more money. We are extremely pleased with his professionalism throughout the process. We highly recommend Steve and his agency!” Alex W.
“We want to thank Dean for all of his hard work bringing three parties to agreement on the closing dates and all other terms.This was no easy task and Dean showed his true professionalism and negotiation experience in making sure all parties came to agreement in a very short period of time. Thanks again to Dean for all he has done for us to date. We truly appreciate his efforts and glad that we have him representing us as he is a true friend.” Ashton and Chelsea K.
“I just wanted to say that Lauren Firner has been a big help in helping our family to secure residency in a property that was listed by Compass.She went out of her way to take care of things that should have been handled by the property owner. She has great communication, responds to questions in a timely manner, and is very personable. Lauren goes the extra mile and anyone that works with her is lucky to have her on their team.” Today N.
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“We would like to express our sincere appreciation to Andy Doyle, for going up and beyond in assisting us in the sale of our family home of many years. Andy’s kind and caring ways, and knowledge of the industry, truly made this an easy transition and an enjoyable experience for us. In addition, his ability to help and guide us every step of the way, as well as others, is so very admirable, as we observed first hand his genuine interest in helping people in general, yet never allowing us to feel short changed for his time and efforts. We look forward to recommending his expertise to our family and friends.” Tim and Eileen W.
“We had the best experience working with Tara. She does her homework and focused on a brilliant strategy to sell our home quickly and for top dollar. If you appreciate truth telling, along with a no nonsense approach to showing your home at its best, then look no further than Tara McNabb. ” Paul & Mary Sackman
“I have worked with Art for over 8 years now and have nothing but amazing things to say about him. He is ethical, honest, diligent, and an advocate for his clients. He is always available and someone I trust. Anyone would be lucky to work with Art!” Autumn B.
“There aren’t enough great things I can say about Danielle, but let me start with the most important: Not only has she been professional, responsive, and informative, but she has been the kindest most knowledgeable real estate agent I have come into contact with. She has made my first home buying experience a breeze. She never made me feel as if I had a dumb question, even though I probably repeated myself a couple times. I don’t know what experience I would have had with another agent, but she has definitely set the bar high! I look forward to working with her again in the future. I will definitely be referring her and her team to my friends and family interested in purchasing a home.” Elizabeth Page G. 31
Consistently delivering the highest prices in the shortest amount of time with superior marketing, merchandising and white glove service.
$1.1B+
Career Sales Volume
$170M+ 2020 Closed and Pending Sales
#10
Ranked team in OC
#1 Compass Coastal OC Market Share
1,000+
341 Bayside Drive, Newport Beach, Ca 92660 pcgroupoc.com
Successfully Closed Transactions
We’re in the business of setting records!
Compass is a real estate broker licensed by the state of California and abides by equal housing opportunity laws. License number 01527365. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.
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