The prospective buyer and seller had reached a stalemate so the agent brought them face to face.
The result: a $5.6 million sale of 21 Tide Watch in Crystal Cove.
“Frankly, our seller wanted to meet the buyer,” said Jim Weisenbach, an agent for Newport Beach-based Surterre Properties Inc.
The 6,800-square-foot home was listed at $6.4 million in October and lowered once to $6.1 million in February.
The meeting came in March, when the buyer told the seller he was willing to pay $5.6 million.
“The seller reached across the table and shook his hand and said OK,” Weisenbach said. “Putting the buyer and seller together is not a bad thing sometimes.”
The buyer, a business owner in the movie industry, paid cash. He was represented by independent agent Andres Umana.
The seller in Crystal Cove was looking to downsize, Weisenbach said.
The sale was the 50th sale in Newport Coast for Weisenbach and his partner Jane Polley, who work together as “Jim and Jane.”
The pair sold nine homes in Newport Coast last year and three so far this year.
The 21 Tide Watch buyer contemplated building in Laguna Beach’s Emerald Bay or buying the relatively new home in Crystal Cove.
“Emerald Bay is a 65-year-old version of Crystal Cove,” Weisenbach said.
Crystal Cove’s perch above the Crystal Cove Promenade shopping center and surrounding state beach gives it a different feel.
“It’s more like you’re on holiday,” he said.
Ultimately, the buyer decided it was easier to buy the Crystal Cove house. It has five bedrooms, six baths and a 700-square-foot pool house. There’s also an outdoor kitchen with three built-in TVs, a beer tap and barbeque.
The house was a challenge to sell because of nearby vacant lots, Weisenbach said.
When homebuilder John Laing Homes filed bankruptcy in 2009, it didn’t finish building on the lots.
People who came to the open houses liked the 21 Tide Watch home, but many figured they’d lose their ocean view once homes were built on the lots.
People don’t like uncertainty, so Weisenbach came up with an idea.
He got photos of homes that are about the same dimensions as will be allowed on the lots. Then he superimposed them with shots of the 21 Tide Watch home and used his iPad to show prospective buyers that the views wouldn’t be spoiled once the home are built.
“Pictures are worth a thousand words,” Weisenbach said.
His iPad also comes in handy in case buyers want to get a quick view of other homes for sale.
Surterre Adds Dana Point
Surterre is opening a 5,600-square-foot office in Monarch Beach Plaza in Dana Point in June.
The office is set to start out with 25 agents and eventually employ up to 50. It’s within walking distance of the The Ritz-Carlton, Laguna Niguel and The St. Regis Monarch Beach.
Surterre has offices in Corona del Mar, Laguna Beach and Ladera Ranch to go with its Newport Beach office and the one coming to Dana Point.
Engel & Völkers in CDM
German luxury home agency Engel & Völkers is the newest shop to open on Pacific Coast Highway in Corona del Mar, taking space between Holly Sharp boutique and PDM Bakery & Cafe.
The Engel & Völkers agency is licensed by Scotland natives Emma and Ray Hogan, who also sell real estate in Dubai, where the market has cooled.
Engel & Völkers has other locations in Orange County, including Irvine and Balboa Island.
More are planned, according to the company, which has about 430 around the world and also sells yachts in Europe. Most of the offices are outside Germany.
The Corona del Mar agency is consistent with Engel & Völkers look around the globe.
“The shop is the brand,” said Bob Braun, manager of the Corona del Mar agency.
The furnishings and decor—white contrasted with a bit of red—is uniform across its locations. It’s meant to be recognizable all over the world, Braun said.
It uses its front window space to display local and international listings.
“We have people staring in our window all day long,” he said.
Engel & Völkers also publishes a glossy lifestyle magazine called Global Guide, or GG.
Let me know about your recent sales at cruz@ocbj.com.
