Orange County Business Journal

Sweet Spot for Luxe Market: $4 Million-$6 Million

Homes in Range Fetch 94% Of List in Recent Months

The luxury home market in Orange County is defined by the Institute for Luxury Home Marketing as the top 10% of overall home listings.

PHILANTHROPY

The world tour celebrating the 100th birthday of the late founder of Lamborghini sports cars made its first pit stop in the U.S. at the Marconi Automotive Museum in Tustin in the form of a fundraiser to help feed and house Southern California’s “motel kids.” 

What $10 Million Will Get You in OC’s Brisk Market

Mediterranean-Style Luxe To Inland Deluxe

The luxury market in Orange County is booming.

PHILANTHROPY

Award-winning charter school NOVA Academy Early College High School unveiled its new four-story, 37,000-square-foot educational facility in Santa Ana on Aug. 22. It purchased the building last fall for $8.3 million. Opening ceremonies included the cutting of a red ribbon on the front doors of the school, student speakers, and tours of the building.

Sales Stay Brisk as Summer Season Winds Down

14 High-End Transactions Close So Far This Month

Luxury home sales in the first three weeks of August continued the brisk pace set in June and July, with 14 transactions above $4 million closing in the first three weeks of the month.

PHILANTHROPY

More than 500 “foodies” gathered at Montage Laguna Beach on May 15 for the city’s premier culinary event for a cause, Laguna Beach Taste of the Nation for No Kid Hungry. 

Realty Agents Use ‘Storytelling’ to Entice Buyers

Say High-End Clientele Seek ‘Bespoke Experience’

It’s little wonder that coastal Orange County may seem like the setting for a novel, with its expansive ocean vistas, low rolling hills and wide blue skies.

Sales Along OC Coast Show Summer Sizzle in July

24 Transactions Totaled $160M, Besting June, May

July may be the hottest month this summer for luxury home sales in Orange County, based on figures from online real estate aggregator Redfin.

PHILANTHROPY

The 20th annual Stars & Stripes Tournament, a four-day fishing, golf and music fundraiser, reeled in a record-shattering $3 million for youth organizations in Orange County and Mexico.

Workers Real Estate-Focused Firm’s Best Investment

Staff’s Interdependence Keeps Passco Healthy

Kendall Parisi, corporate designer at Passco Companies LLC, looked over the numerous stacks of marketing supplies, brochures, and trade show materials spread across the conference room table.

The ‘Why?’ Sets Wealth Management Firm Apart

Clients’ Peace of Mind On Money Unites Employees

Economists and financiers traditionally measure success by examining an organization’s income statement, balance sheets and cash flow statement.

Sale of Actress’ Home Might Have Set Record

Third Agent’s the Charm To Move Modern Mansion

The custom contemporary mansion at 331 Monarch Bay Drive in Dana Point sold on June 27 for $8.3 million, under its January $9 million list price.

Construction Firm Builds Culture With Camaraderie

Swinerton Staff Chip In Like Any Good Site Crew

They’ve been to conferences in Vegas, although they have yet to claim spots at the Black Jack table. They’ve been to Germany during Oktoberfest but abstained from indulging in that country’s most famous beverage. They’ve sat in on some of Swinerton Builders’ most important meetings, a noticeable, if silent, presence. The pair stands stoically, one man holding a set of building plans, the other his arm outstretched, pointing off into the distance.

PHILANTHROPY

More than 800 leaders of the Orange County legal community celebrated the Public Law Center’s 35 years of helping the county’s poorest and most vulnerable residents at Hotel Irvine on June 20.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 39, No. 28

University of California-Irvine and the other schools in the UC system increased the number of California-based students they offered admission for the year starting in the fall.

OC’s Luxury Market Heats Up in Summer Sunshine

32 Deals Top $4M In June; 2 Exceed $10M

Thirty-two home transactions above $4 million closed in June, including two that captured sales prices above $10 million.

PHILANTHROPY

Goodwill of Orange County opened its Thomas T. and Elizabeth C. Tierney Center for Veteran Services building in Tustin, an all-in-one resource for military veterans living in Orange County and their families.

How Women Mean Business

Where Communication, Collaboration, Success Intersect

Michelle Jordan ventured across the Atlantic Ocean decades ago in pursuit of her personal version of the American dream.

Dream Backyards Shift With Summer Trends’ Breezes

Popular Features Include Water Walls, Sunken Patios

Orange County’s flawless summer days invite relaxation, and some of its luxury backyards boast features on par with five-star resorts, begging the question: “Why would anyone need to leave home to go on vacation?”

PHILANTHROPY

Microsemi Corp. partnered with Discovery Cube for the company’s Corporate Cube Challenge on May 19, a first-of-its-kind fundraiser that took in $250,000.

May Price-Per-Square-Foot Tops Year-Earlier Figure

Jumps 9%, With Balboa Peninsula Average Tops

Orange County’s luxury home market saw 25 transactions close between $4 million and $12 million last month, when the median price for a home along the coast was just under $6 million.

PHILANTHROPY

The arts and the art of leadership took center stage May 12 in the Samueli Theater at Segerstrom Center for the Arts in Costa Mesa at the fourth annual “The Mayor’s Celebration

Vacation Home Sales Second Highest in Decade-Plus

16% of Luxury Sales Last Year, All-Cash Sales Up

Orange County, with its 42 miles of beaches, average year-round temperature of 70, and ready access to a wide range of recreational activities, is a perennial vacation destination. The California Travel and Tourism Commission says 47.4 million people visited here last year, up 2.6% over 2014. International travelers are the fastest-growing segment of visitors, reaching 13.8 million last year, according to the commission.

PHILANTHROPY

Philanthropy for May 23, 2016

Average Luxury Home Price Per SF Reaches Milestone

$1K-Plus; Highwater Marks in Laguna, CDM

The luxury homes market—defined by real estate experts as the most expensive 5% of homes sold in a given quarter—has reached a new milestone in Orange County this year.

PHILANTHROPY

Applied Medical, Lugano Diamonds, PIMCO Foundation and Balenciaga were among the major sponsors of Court Appointed Special Advocates’ annual Celebration of Children: Black & White Ball on April 16 at The Ritz-Carlton, Laguna Niguel in Dana Point.

Newport Coast, Laguna See Big Jumps in $10M+ Sales

Make US Listing of Elite Cities, Including Aspen

The Luxury Market Report released April 7 by Coldwell Banker Previews International found that Newport Coast and Laguna Beach experienced big increases last year in sales in the $10 million-plus category.

PHILANTHROPY

United Cerebral Palsy of Orange County’s annual black tie gala, Life Without Limits, was held April 2 at the Balboa Bay Resort in Newport Beach.

Masters of the Yogaverse

Executives Leverage Popular Practice to Help Them Manage Business, Personal Lives

Joe Duran, six months after discovering yoga, saw that the mindfulness and self-awareness he’d gained as a student of the practice had another benefit. That’s when it helped him maintain control during a confrontation with a colleague that could’ve gotten negative.

All-Cash Transactions on Rise at High End of Market

Foreign, Local Buyers Seek Out Safe Investments

All-cash sales for luxury properties are on the rise, according to Irvine-based CoreLogic, which provides financial, property and consumer analytics, and tracks current trends.

PHILANTHROPY

The JDRF Orange County Chapter’s 20th anniversary Platinum Dream Gala brought together 500 business leaders, sponsors and organization supporters to help raise more than $1.1 million for diabetes research.

Early 2016 Sales Show High-End Home Market Surge

Early 2016 Sales Show High-End Home Market Surge

ifty-five homes closed above the $4 million mark in the first quarter, with a week still to go at press time, bringing a total of $371.2 million.

PHILANTHROPY

Music and wine proved to be a perfect pairing at the ninth Pacific Coast Wine Festival benefitting Pacific Symphony.

OC Still Coveted as Overseas Buyers Hit Pause Elsewhere

Expert Says Chinese Pullback Not Seen Here

Foreign investment in U.S. real estate is hitting the pause button, according to a report by the National Association of Realtors, and the pullback is most evident among Chinese buyers affected by China’s slowing economic growth, currency devaluation and tightened restrictions on capital outflows. Other reasons the report cites include a stronger U.S. dollar and rising home prices.

PHILANTHROPY

. Paul Musco, founder of Gemini Industries, was honored at the second annual “Let’s Be Frank About Cancer” gala on Feb. 20.

PHILANTHROPY

The Orange County Funders Roundtable’s 2016 Summit on Feb. 4 and 5 at Disney’s Paradise Pier Hotel in Anaheim brought together 280 local philanthropic and business leaders for two days of learning and brainstorming about how to address emerging community needs.

New Lane for Vets in Need

Shipping Containers Become 15-Unit Complex in Midway City

Potter’s Lane has all the hallmarks of an upscale condominium community: contemporary architecture, a carefully crafted exterior blend of wood and steel, large light-admitting windows, a rooftop deck, and a Zen-like courtyard garden.

Exceptional Oceanfront Property Shatters Sales Record

‘Twin Points’ Sold By Agent With No. 3 Sale

Twin Points, a 2.28-acre oceanfront property at 1101 Marine Drive in Laguna Beach, recently set a record $45 million Orange County home sale price, though off its original June list price of $75 million.

PHILANTHROPY

The Pacific Life Foundation announced on Jan. 22 that it will provide $6.25 million in funding this year, an increase from the $6 million it gave in 2015.

Chapman’s Artsy Uncle

How, Why School Became Home for Couple’s $7 Million Art Collection

Family matters at Chapman University, although that won’t be obvious to visitors to the opening of the school’s Hilbert Museum of California Art later this month.

Convenience, Security Drive Call for ‘Smart’ Homes

Buyers Now Want Practical Innovation in Retrofits

A recent survey by Coldwell Banker reveals that the growth curve of connected-home devices, such as smart thermostats, door locks, smoke detectors and light switches, is on track to beat that of smartphones and tablets over the next five years, expanding from 20.7 million units in 2014 to 35.9 million units by 2017.

PHILANTHROPY

The Anaheim Ducks hosted the 16th annual Dux in Tux presented by Honda on Jan. 18 at the Hilton Anaheim.

Early Sales Show Luxury Market Off to Strong Start

Five Move in First Ten Days, Four on Coast

Five Orange County luxury homes sold during the first 10 days of the year, and four of those are ocean-view homes in OC’s priciest communities. The other is an expansive estate on an acre-plus spread in Coto de Caza that once graced the cover of Unique Homes magazine.

PHILANTHROPY

The Outlets at San Clemente hosted its inaugural Shopping Extravaganza charity fundraiser on Dec. 5, raising $37,465 to benefit 18 local nonprofit groups.

Confidence, Stability to Shape 2016 Luxury Market

3 Local Experts Say Year Will Bring Healthy Norm

Orange County’s coastal cities, with their deep beaches and panoramic Pacific views, have long enticed luxury homebuyers.

PHILANTHROPY

Seven hundred Pacific Investment Management Co. employee volunteers, friends and family members gathered at the OC Fair & Event Center in Costa Mesa on Dec. 12 to pack 16,000 holiday meals for Southern California families in need.

More Luxury Homeowners Create Own Private Spas

Stereos, Steam, and Smart Big As 2016 Approaches

"Today’s master baths are becoming places to linger,” says award-winning interior designer Lisa Dunlevie of Dunlevie Interiors in San Juan Capistrano.

PHILANTHROPY

Los Angeles-based radio station KFI 640AM partnered with Anaheim White House restaurant owner Bruno Serato for the fifth consecutive year in a daylong radiothon to collect pasta, sauce and cash to help Serato’s charity, Caterina’s Club.

PHILANTHROPY

Newport Beach-based cosmetics company Urban Decay donated $50,000 to Laura’s House to help fund the nonprofit group’s community programs, emergency shelter, and legal advocacy services for domestic violence survivors in Orange County and elsewhere.

Coastal Lux Home Sales Average 96% of Listing Price

Some Areas Even Higher— Cameo Shores at 98%

One thing appears to remain consistent in Orange County’s dynamic luxury market: Buyers are willing to pay top dollar for the expansive homes and unique estates prevalent in the communities along the coast.

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