An August study by the Asian Real Estate Association of America reveals that 86% of native-born Chinese and Chinese-American homebuyers say the ancient philosophy of feng shui will be a factor in the purchase of their next home.
Feng shui is an ancient Chinese practice that’s believed to facilitate harmony in any given space by considering the elements of water, wood, fire, earth and metal to determine the best location and orientation of structures.
The principles also dictate the layout of furnishings, the alignment of doors, and even the position of the home on the street.
“Nearly 98% of all my Asian clients have requested something feng shui-related,” says Debbie Marie of Teles Properties.
Irvine is considered one of the best areas when it comes to the housing stock’s feng shui, according to Marie.
“I’ve been told they want the mountains behind them, and Irvine’s geography fits that criteria,” she explains. “Ocean views aren’t as important as feng-shui-worthy homes. I had a client who critiqued the Pacific Coast landscape view from an $8 million Newport Coast home. They didn’t buy it because of the way the coast was geographically curved.”
Homer Oatman, lead architect and president of Oatman Architects Inc. in Newport Beach, built three custom luxury homes for Chinese families in the past year, and all incorporated elements of feng shui to different degrees. One client, he recalls, requested he design a home that incorporated the birth date and birth time of every family member who would live there.
Carol Finizza, marketing director of the Strand at Headlands, says the Asian families that build custom homes in the private community incorporate feng shui principles into the design.
“Knowing the families at the Strand the way I do,” she says, “I would have to say that every consideration in room placement, the relationship with indoor-outdoor spaces, orientation on the property, volume of space, is taken into consideration.”
She adds that the Strand’s westerly orientation to the Pacific Ocean and natural open space/conservation park is considered “good” feng shui.
Luxury specialist Angela Chen of Teles Properties says that in her experience, the younger generation doesn’t place as much emphasis on feng shui as their parents.
“Many of the older generation believe in the principles of feng shui; however, the newer generation are able to look past some aspects of it and agree it is not a deal-breaker to buying a home,” she explains. “I have found that the areas most Asian buyers are attracted to in the OC correlates to the school district. Many Asian families have flocked to University High School district and Northwood High School district. The home values hold best in these areas,” namely Irvine, which is also known, perhaps coincidentally, as particularly feng shui-healthy.
Prominent on Peninsula
The five-bedroom, six-bath Tuscan-influenced home at 168 Emerald Bay in Laguna Beach sold on Oct. 14 for $17.2 million, under its March list price of $21 million.
The 5,750-square-foot ocean-view estate is positioned prominently on the peninsula above Emerald Bay’s private beach. It’s designed with large windows and skylights that allow sunlight to flood each open living space. The state-of-the-art kitchen offers a grand kitchen island, designer appliances, custom cabinetry, and Calcutta marble countertops.
In the master retreat, dual sets of French doors offer access to two separate balconies overlooking the waters below.
The 0.32-acre grounds include a spa and swimming pool perched on the bluff with direct ocean exposure.
The transaction was represented by Tim Smith of the Smith Group, Coldwell Banker Residential Brokerage on the seller’s side and by Kevin Aaronson of Keller Williams Realty on the buyer’s side.
$10.4M on Circle Way
The four-bedroom, 5 ½-bath Craftsman-style home at 1379 Circle Way in Laguna Beach, on the sand of Crescent Bay in North Laguna Beach, sold for $10.4 million, under its February list price of $11.4 million. The transaction closed on Oct. 22.
The home sits on an 8,712-square-foot corner lot that features a courtyard with a koi pond, landscaping, and manicured trees, as well as terraced gardens with roses, fern grottos, citrus trees and a grassy lawn. There’s also a detached guesthouse with a kitchen and full bath.
The 4,850-square-foot main house includes a gourmet kitchen, a living room that opens to an ocean-view terrace, and a bonus room and bath with a private exterior entrance.
Rob Smith of Surterre Properties Inc. managed the sale on behalf of the seller, and Ron Millar of Arbor Real Estate Professionals represented the buyer.
