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.
Many visitors love their experience here so much that they decide to buy a vacation home in Orange County. The National Association of REALTORS, which released its 2016 Investment and Vacation Homes survey this month, said the percentage of vacation home purchases here last year was the second highest in more than a decade—totaling 16% of all transactions above $4 million. The highest came in 2014, when such accounted for 21% of total sales.
The same survey showed that all-cash purchases of vacation homes jumped last year to 38%, up from 30% in 2014.
“I would say half my sales last year (above $4 million) were vacation or second homes, and 90% of them were cash transactions,” said Adrienne Brandes, who works out of the Newport Beach office of Surterre Properties.
“As an interesting aside, 75% of those I sold vacation homes to plan on using that home in retirement as their principal residence.”
The Realtors association survey said Corona del Mar, Laguna Beach and the peninsula in Newport Beach are the most popular destinations for luxury vacation home buyers.
Clifftop Beauty
The home at 845 Cliff Drive in Laguna Beach sold on May 6 for $10.9 million, coming in under its March list price of $12 million.
The 3,300-square-foot residence, which boasts a panoramic view and overlooks Fisherman’s Cove, sits on an 8,000-square-foot lot. It was developed in 2000 by Laguna Beach architect Morris Skenderian and has views from almost every room. There are four bedrooms—two of them with en-suite bathrooms—and five total baths.
Keven Stirdivant of Keller Williams Newport Estates represented the seller, and Rochelle Maize of Nourmand & Associates represented the buyer.
Oasis in Irvine
The 12,796-square-foot custom mansion at 26 Boulder View in Irvine sits on an elevated ¾-acre property known as the Rancho de Oro estate. It sold on May 2 for $7.8 million. Its November list price was $8 million.
Newport Beach architect Rob Sinclair and builder Gary McLane, based in Rancho Santa Margarita, designed it.
The four-level mansion has seven bedrooms, nine baths, two executive offices, a library, gourmet kitchen, wine cellar, two laundry rooms, staff quarters, piano room with sound broadcast, a private home theater, dance studio, and additional rooms for billiards, children’s games and poker.
Landscape architect Mark Scott of Newport Beach created a wrap-around garden and areas for entertaining. Outdoor elements include water features, flower-filled archways, walking paths, and a portico. The estate offers views of the canyon and golf course.
Delia Chin of Coldwell Banker Residential Brokerage was the listing agent, and Ting Thomas Zheng of IRN Realty represented the buyer.
Contemporary Dream
The newly renovated contemporary ocean-view home at 2701 Harbor View Drive in Corona del Mar sold on May 18 for $5.175 million, a hair under its $5.2 million list price.
The home was designed by Orange County architect Chris McLeod of Musser Architects Inc. It has 3,950 square feet of living space encompassing five bedrooms and six baths. A chef’s kitchen features custom walnut cabinetry, an oversized island, and a Wolf and SubZero appliance package that includes two full-sized wine refrigerators.
Other features include three sets of bifold doors that open to the backyard; white oak floors; built-in outdoor gas heaters; Italian bath fixtures; automated blinds; and surround-sound speakers throughout.
The 0.3-acre lot has a resort-like backyard that includes a salt water swimming pool with water features, a conversation fire pit, built-in barbecue, and refrigerator.
Rob Montgomery of Arbor Real Estate was the listing agent, and Heather Saito of Coldwell Banker acted as the buyer’s agent.
