Eastside Costa Mesa, CA – Prime time to buy

Newport Beach is one of the top cities within Orange County and even the entire United States to buy real estate.  Do you remember the famous TV show “The OC” with hot sports cars, mansions, and beautiful people?  Yes, parts of the show were an accurate representation of coastal Orange County, however, how do you eventually buy in Newport?  You move up!  An ideal neighborhood to buy a home or investment property in today’s market is Eastside Costa Mesa.  This area has fabulous homes, a prime location, and homes at more affordable prices with obvious signs of appreciation.  As of May 2013, the highest number of sales (20 closed escrows) falls in the $700,000 – $800,000 price range.  13 closed transactions fell within the $500,000-$600,000 price range which is slightly higher than the average OC home price.  These homes are ideal for a new family, roommates/friends looking to purchase a home together, North Orange County residents looking to live closer to the beach, and investors.  Also, homeowners are upgrading and taking on extensive remodels raising the comparable properties and improving the neighborhood for future buyers.  Other indicators include the city improvements and the large amount of money invested in redeveloping Triangle Square, renamed The Triangle, off Newport Blvd.  New restaurants have been added including Saddle Ranch, El Corazon de Costa Mesa, and a bowling alley called Tavern + Bowl scheduled to open this year.  For more info on this development visit their site.  The chart below shows 2012 sold listings by price range in green and 2013 sold listings in blue.  This data shows homes listed in the MLS and not properties sold by owner.

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Benefits of buying in Eastside Costa Mesa include:

  • Newport Mesa Unified School District
  • Under 3 miles to the beach
  • Close to Upper Newport Bay Nature Preserve – 10.5 mile trail great for walking, riding bikes, admiring nature
  • Short drive to Huntington Beach – Attend the US Open of Surfing July 20th – 28th
  • Close to Newport Beach Golf Course – ideal 9 hole course
  • Convenient access to PCH and the 55 freeway
  • Near 17th street with new businesses and city development

 

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