Newport Beach Homes – Harbor Realty

Financial analysts have predicted that the Newport Beach real estate market will continue to gain ground over the coming year. The completion of several master planned communities has meant that there is now even more high quality property in Newport Beach available for purchase than ever before.

Property prices have continued to climb way above the national average for the last decade; the area has been steadily developed into an attractive and affluent part of the State of California. There are still bargain properties to be had, but those wishing to snap up their dream home at a low price, and thus secure a great investment would be wise to do so soon.

The local economy is still running very bullish, local businesses in almost every sector are reporting a  bumper year during 2008, and as such this makes Newport Beach a very attractive area for those wishing to not only relocate their home, but their work as well. The Newport Beach Chamber of Commerce has confirmed that employment statistics are looking extremely good, and job prospects look good for any family wishing to relocate to Newport Beach.

With the obvious buoyancy of this area, it needs to be said that anybody who is considering a move to Newport Beach needs to start moving now; within a very few years it is expected that housing demands will outstrip availability, and prices will begin to rise again. Get in now while you can, and grab a great property investment for the future.

There is an old saying, nothing is for free, and this is true of the Orange County real estate industry as much as any other. Due to the relatively high value of Newport Beach real estate transactions, it may be useful for you to understand why a commission is paid and to who, when buying or selling your Newport Beach home.

Newport Beach Home Sellers

If you use the services of a professional within the real estate industry, such as a Newport Beach REALTOR®, you will be expected to pay for their services as a home seller. Your Newport Beach REALTOR® will receive a percentage of the commission received by the brokerage, typically 3%-4%.

Always try to remember that it is in the best interest of your Newport Beach REALTOR® to make sure your property deal is handled professionally and quickly. The cost of advertising your home during the search for a buyer is handled completely by your REALTOR®.

While some will still operate upon a flat fee the vast majority of Newport Beach REALTORS® work on a commission basis. REALTORS® paid a flat fee generally do not take care of all of the details of the selling process for you such as advertising. It is then your own responsibility to advertise your Newport Beach home for sale within your own advertising budget. This can be quite the headache for the inexperienced. What you save by using a flat fee Realtor is essentially used to advertise your home anyway. The services you receive from flat fee REALTORS® will vary from agent to agent. Whereas the services you receive from a REALTOR® paid by commission will not fluctuate. You’ll receive the full service of your REALTOR® from start to finish.
As a seller, it is generally in your best interest to utilize the services of a Newport Beach REALTOR® paid by commission because they will handle all the details of the home selling process for you.

Newport Beach Homebuyers

As a homebuyer it is always in your best interest to use the services of a REALTOR® to help you find homes in Orange County. However, it’s not a bad idea to start your search for that agent and home online. Becoming familiar with Orange County real estate markets such as Newport Beach will give you a good understanding of the current market conditions helping you find a neighborhood that is suitable for your family in price and amenities. As a buyer, the commission of your agent is paid by the home seller. This leaves no reason to not utilize the services of a professional Newport Beach REALTOR® who can properly guide you to the city and neighborhood that is most suitable for your family.

When considering which type of property to purchase in Newport Beach, it may prove useful to have a greater understanding of the types of property available, such as condominiums, townhomes and single family homes. Below are some basic definitions of these types of homes for sale in Newport Beach.

• Condominiums – Condos in Orange County are generally one unit within a larger building. The ownership of common areas (such as the interior and exterior walls, roof, swimming pools, gardens, lobby, etc.) is shared by all owners of units within the building. Assessments are paid monthly in order to keep up with the maintenance of the common areas.

• Townhomes – This type of property will usually have shared walls with connecting dwellings, and be built in a row. They may share amenities such as a pool or gardens and will often share the cost of maintenance for things such as the roof, or driveways. You’ll find some lovely Corona del Mar townhomes on the market with lovely ocean and city lights views.

• Single family homes – This term is used to define a detached property, upon its own lot, which shares nothing with surrounding properties. Most often, the owner is responsible for all maintenance and upkeep of the property, and can potentially improve and extend the structure. Find single family homes in Newport Beach as well as throughout all other Orange County communities.

These three terms describe the three main forms of property ownership within the area of Newport Beach. Depending upon your lifestyle and financial situation, one may be more beneficial for you than the others, it is suggested you contact a professional Orange County REALTOR® for further information.
With Halloween happening tomorrow, have a happy and safe day trick or treating with your family!