An ocean-view home at 96 Vista del Sol in Laguna Beach sold for $6.7 million—above its listed price—after drawing five competing offers.
The home in the exclusive Three Arch Bay neighborhood was listed June 30 for $6.1 million and sold within a couple weeks, going into escrow July 13. The sale price still was for substantially less than the property might have gone for in a boom market.
Steve deVre, an agent with the Monarch Beach office of Prudential California Realty, represented the bank-owned property. Jimmy Reed, an agent with the San Clemente office of Coldwell Banker Beachside Realtors, represented the buyer, which was a local family.
The offers came as soon as the home was listed, deVre said.
“Buyers are coming out,” he said.
They’re coming out for the unique luxury properties, which currently may be priced as low as they’re going to get. Three Arch Bay is in particular demand, he said.
“It’s a very desirable area,” deVre said. “It’s a one-of-a-kind location.”
The gated Three Arch Bay community spans 120 acres and has been home to many artists, musicians, entrepreneurs, surfers and Hollywood elite. It has a clubhouse and community tennis courts.
The 7,100-square-foot home has five bedrooms and four bathrooms.
The home is a Craftsman-style home, distinct from the Mediterranean-style homes in the area. It was designed by Laguna Beach architect James Conrad.
The home has all the bells and whistles, including a koi pond, waterfall, an ocean-view yoga room and coastal views.
French Normandy
Another recent sale in Three Arch Bay this year was 6 Barranca Way, which sold for $8.4 million, 35% off its list price.
The French Normandy-style home was built in 1933 by Gen. H. N. Proctor, who was stationed in France during World War I. Proctor—who returned to Long Beach from the war and became a developer—was one of the first purchasers of custom lots in Three Arch Bay.
Ron Felsot, an agent with the Newport Beach office of Beverly Hills-based Teles Properties Inc., represented the seller in that deal.
David Cox, an agent with D.C. Financial Service, based in Campbell, represented the buyer, a Newport Beach family who bought the home to be used as a family estate.
Priciest
The most expensive listing in OC recently came on the market, a $65 million, 25,000-square-foot home in Laguna Beach.
Rod Daley, an agent with the Newport Beach office of Coldwell Banker Previews International, has the ocean-front home privately listed. The seller hasn’t been disclosed.
The next priciest listings are 8 Mystique in Newport Beach, listed by Rex McKown of Newport Beach-based Surterre Properties Inc., and 20 Emerald Bay in Laguna Beach, listed by Robert Giem, an agent with Newport Beach-based HÔM Sotheby’s International Realty. Each is listed for $35 million.
Good Start
The first month of the second half of the year is off to a good start.
July had 13 closings of homes priced above $4 million, according to Redfin.com. That beat the best month in the first half of the year, which was June, with 12 closings.
And it looks like August could beat July sales.
Three homes priced above $4 million already have sold as of Aug. 6:
• 54 Golden Eagle in Irvine sold for $5.3 million, down from $5.6 million in May. Casey Lesher, an agent with HÔM Sotheby’s International Realty, represented the seller. Surterre’s McKown represented the buyer. The 6,700-square-foot home has seven bedrooms and six bathrooms.
• 433 Emerald Bay in Laguna Beach sold for $4.5 million, down from $4.9 million in March. Harold Noriega, an agent with HÔM Sotheby’s International Realty, represented the seller. Dean Ledger, an agent with Crystal Cove Sales and Leasing, represented the buyer. The 4,200-square-foot home has five bedrooms and four bathrooms.
• 2538 Monaco Drive in Laguna Beach sold for $4.2 million. It had been listed a year ago in January for $6.5 million and had a few price changes before finally selling. Tad Baltzer, an agent with HÔM Sotheby’s International Realty, represented the seller. Rob Smith, an agent with Surterre Properties, represented the buyer. The 2,600-square-foot home has three bedrooms and two bathrooms.
