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Study Shows May’s the Charm for Home Sales

Conventional wisdom in the real estate profession has always been that the best time to put a home on the market is the spring. A study released in January by online real estate database Zillow corroborates that belief. The nationwide study shows the best time to try to sell is between May 1 and May 15.

The study collected data from 25 metropolitan areas across the United States, including combined information for Orange and Los Angeles counties.

Homes listed between May 1 and May 15 in 20 of the 25 metro areas studied sold nine days faster and for up to 1% more than the asking prices.

Zillow’s research also revealed that listings appearing on its site on Saturdays garnered 20% more views than early-in-the-week listings. The second best day to list was Friday, when properties received 14% more views.

Orange County’s luxury market sales are steady this month, nevertheless. Here are highlights from the first half of March.

High Over the Water

Hidden behind the gates of the private Crystal Cove community of Newport Coast, 9 High Water is situated on a .49-acre hilltop parcel overlooking the panoramic California coastline.

The Tuscan-inspired mansion sold on March 10 for $11 million following a $900,000 price reduction off its September listing.

The home’s 7,566 square feet of living space encompass six bedrooms, seven baths, a library, media room, gym and wine room. Other features include a third-floor tower and decorative accent lighting throughout. Iron railing, large baseboards and alder beams frame the interior.

The grounds include a guest casita, a pool and spa and expansive professionally landscaped grounds.

Rex McKown and Marcy Weinstein of Surterre Properties Inc. represented the seller, and Qian Meng of JC Pacific Capital Inc. negotiated on behalf of the buyer.

Home for Contemporary Times

Several balconies to enjoy ocean views are afforded by the south-facing property at 998 Emerald Bay in Laguna Beach. The 3,545-square-foot home, designed for indoor-outdoor living, sold on March 13 for $6 million, meeting its February list price.

It was completely renovated in 2012, and the contemporary home features an open floor plan design with four bedrooms, five bathrooms, a private office and wine room. The main floor opens to an outdoor lounge terrace through a glass-paneled door system.

The home sits on a 5,193-square-foot lot in Laguna Beach’s exclusive Emerald Bay community.

Harold Noriega of HÔM Sotheby’s International Realty represented both sides of the transaction.

Country Estate

27691 Rolling Wood Lane in San Juan Capistrano changed owners on March 7 for $5.1 million, coming in under its October list price of $5.25 million.

The 6.3-acre compound includes a completely remodeled, 7,000-square-foot main home, a self-contained, 1,500-square-foot, two-bedroom guest house, and a private tennis court, among other amenities, such as a pool and spa and outdoor kitchen. The property boasts panoramic views of the canyon.

The main home’s floor plan includes rotunda entry with 20-foot ceilings, a kitchen outfitted with Calacatta marble, chef-grade appliances and custom cabinetry, and a family room with wet bar and a gym. There are six bedrooms and seven baths.

John Stanaland of HÔM Sotheby’s International Realty and Steve High of Villa Real Estate represented the seller and buyer, respectively.

Victoria Beach Beauty

Situated off Victoria Beach, the Craftsman-style home at 4 Lagunita Drive in Laguna Beach features expansive white-water ocean views. It sold on March 8, fetching $4.8 million, under its December list price of $5.3 million.

An extensive remodel added approximately 1,000 square feet to the home, bringing its living space up to 2,998 square feet.

The home, which sits on an 8,280-square-foot lot, offers three bedrooms and four baths. Sliding doors open to various terrace spaces, including a rear veranda lounge featuring an outdoor kitchen and fireplace.

Sean Stanfield of HÔM Sotheby’s International was the seller’s agent, and Allison Temple of Provenance Realty Group represented the buyer.

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