Newport Beach Homes – Harbor Realty

Financial analysts are predicting 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 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 running very bullish, local businesses in almost every sector are reporting a  good 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 buoyancy of this area, it needs to be said that anybody  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.

Finding the right home for you and your family is not an easy thing to do;  quite often you will have a clear set of requirements and then struggle to find a property which meets them exactly. Below are some basic tips designed to make hunting for your new home in Newport Beach or other Orange County communities a little easier on your family.

At the outset of your Orange County home search, relax and try and enjoy the experience. You may have to view quite a few homes in Orange County communities before you find one that you like, use this opportunity to refine your requirements by taking a good look at the properties you visit and changing your own set of needs accordingly.

Have your mortgage ready and be in a position to make an offer. Obtaining pre-approval for a home loan is one of the most important things you can do prior to beginning your search for homes in Orange County.  To obtain your pre-approval letter, you can contact our lending partner, United American Mortgage.  Imagine finding the house of your dreams in Newport Beach or Costa Mesa, only to have it purchased out from under you by somebody who had their pre-approval ready? Avoid this type of situation by clearing defining your buying ability ahead of time. Obtaining pre-approval on a home loan in Orange County will also prevent you from searching for homes above your price range.

Create a simple checklist of your likes and dislikes. It can be quite confusing when you are visiting many properties to keep track of which ones were the most fitting. Keep a brief record of each property you visit with notes, so that you will not become confused over which property was which.  You may also wish to bring your digital camera when you are property viewing to help you record homes you like.

Make sure you have the time for finding your new home. Property viewing can be quite a demanding pastime, and it is important you take the time out of your daily life to give it the due care and attention it deserves. Once you’ve chosen an Orange County REALTOR® to represent you during your home search stay in contact and return their phone calls promptly. You wouldn’t want to miss out on a great deal!

So there we have it, some very simple advice on how to make the process of finding your new home in Orange County a little more painless.

There is a quick and simple calculation for working out your actual buying power, although it is advised you make use of the services of a Newport Beach REALTOR® for a fully accurate opinion as to your buying power.
First, it is important to figure in any money from the sale of a previous property.  If you have not yet sold your previous home, you may only be able to guesstimate what the sale value of your home will be.  Then find out just how much you can borrow from a local Orange County Lender, add to this your savings or investments that you can use towards the purchase price of your new home in Newport Beach.  This will give you your total spending figure.

Now, add up all of the costs involved in the purchase, such as professional fees, and the cost of hiring a company to move your belongings.  Deduct this figure from your total spending figure and you will have a rough estimate of the price range you are able to afford.

In reality this is a fairly blunt way to calculate buying power.  The best way to discern what your optimal price range would be is to see a professional Newport Beach REALTOR® as well as a Lender.  By using a REALTOR® in Newport Beach to help with this important consideration, you will be making sure you do not miss any hidden costs, or make incorrect assumptions about the true cost of the process of moving.
Your bank can also be helpful, by explaining to you how borrowing limits are set, and advising you on the best way to raise funding based on your current assets and income.