An upsizing buyer and downsizing seller came together for a rare sale within the exclusive Watermark enclave in Crystal Cove.
A 5,560-square-foot home at 6 Scenic Bluff sold for $5.5 million in March.
“It’s very rare they ever come up on the market,” said Jacqueline Thompson, an agent for Newport Beach-based Surterre Properties Inc. who represented the seller.
Steve Diamond, an agent for Coldwell Banker Residential Brokerage in Laguna Beach, represented the buyer, who already owned a smaller home in Crystal Cove.
The custom homes at Watermark, built by what’s now Taylor Morrison of Britain’s Taylor Wimpey PLC, began selling in 2000. Two-thirds of the homes sold in the first year. Only a handful of the homes have resold since, according to Thompson.
There are 33 Watermark homes in all.
The gated neighborhood, developed by Irvine Company, has some of the most expensive homes in Newport Coast.
Everything about Watermark is big.
It has expansive homes with big pools on relatively large lots, compared to other developments, Thompson said. The homes have ocean views and are walking distance to Crystal Cove State Beach, which faces Scenic Bluff.
The development has plenty of open space, which allows for privacy.
“You don’t see your neighbors when you walk out,” Thompson said.
The five-bedroom, eight-bath home was on the market for less than a year. The closing price was 10% less than the original list price of $6.2 million. The price was cut once in July to $5.9 million. It sold for $998 per square foot.
One of a handful of Watermark homes that sold prior to the 6 Scenic Bluff was 22 Scenic Bluff. It closed for $5.5 million in July.
Home Shopping by Boat
Renee West, an agent for the Corona del Mar office of Prudential California Realty, has a fun way of showing around her waterfront homebuyers.
West takes them out on her 21-foot electric Duffy boat, which she has docked at her Newport Beach home.
As they cruise the bay, she learns what kind of home might suit them.
She points out distinct homes owned (or formerly owned) by celebrities and Orange County’s business moguls. She tells them the history of the homes and describes the neighborhoods.
“It’s very educational and fun,” she said. “People enjoy the tours.”
Some of the waterfront neighborhoods she highlights include Promontory Bay, Bayshores, Lido Isle and Linda Isle.
Linda Isle has 107 homes and is ultra private with an around-the-clock guarded gate. All of the homes are custom built and have boat docks.
There only is one way to get on Lido Isle, which is by bridge. It was developed in the 1920s and has about 850 homes.
Lido Isle is made up of Via Lido Nord, which faces Pacific Coast Highway, and Via Lido Soud, which faces the ocean.
“It’s a matter of personal preference as to which side people like,” she said.
Bayshores, at Dover Drive and Pacific Coast Highway, has about 250 homes, including 25 on the water. Not all of them have docks.
Promontory Bay, developed by Irvine Co. in the 1970s, has 16 homes on Bayside Drive. Promontory Bay’s Harbor Island Drive has 42 custom homes with boat docks.
Gated Harbor Island is where some of the county’s wealthiest live.
West recently represented a Chinese businessman in the sale of a $6.2 million home on Linda Isle. The seller’s agent was Jacqueline Thompson for Surterre.
The buyer, who was looking for a waterfront home for his wife and children, was a referral from a past buyer, a couple from Hong Kong.
West represented the Hong Kong couple last year in their buy of a Bayside Drive home in Newport Beach.
West sells homes around the county but said her expertise lies in waterfront homes in Newport.
“I have a keen interest in homes on Newport Harbor,” she said.
