Timothy Norman Tamura presents

Built atop the natural crest of Poppy Avenue, this newly constructed front residence affords substantial ocean views rarely found in Corona del Mar village condos. Clean lines and contrasting materials define spacious living areas embracing an abundance of natural light. A beautiful kitchen equipped with custom cabinetry, stone countertops and Thermador appliances opens to the living & dining areas and forward entertaining patio. With 3 en-suite bedrooms and 3.5 baths, the floorplan provides over 2,500 sf of living area “under roof”, including lower-level fitness/wellness area, second-level terrace family room, and rooftop ocean view deck. This luxury front residence includes an elevator providing service from garage level to the roof deck level, affording a unique quality of life seldom found in coastal Orange County living. Offering an unmatched level of refinement, 505 Poppy is the latest interpretation of attached single-family living from JFB Custom Homes; with architecture by Studio del Mar and development consulting by VALIA Design & Consult. Ideally located within short walking distance to famed Little Corona Beach, the hiking trails of Buck Gully Nature Preserve; and the award-winning restaurants & amenities of the Corona del Mar Village.

Address: 505 Poppy Ave., Corona Del Mar, CA 92625

Price: $2,895,000

For more information, please contact Timothy Norman Tamura at 949-673-­0789 or timothy@valiaoc.com

Timothy Norman Tamura is the exclusive agent representing the Corona del Mar, California real estate market as a member of the Haute Residence Real Estate Network. View all of his listings here.

Photo Credit: Adisen Little Photo Credit: Adisen Little Photo Credit: Adisen Little Photo Credit: Adisen Little

Photo Credit: Newport Beach Media
Photo Credit: Adisen Little

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Address: 42 Deep Sea , Newport Coast, CA 92657

For more information, contact Steve High and Evan Corkett at 949-874-4724 / 949-285-1055 or shigh@villarealestate.com / ecorkett@villarealestate.com.

Steve High and Evan Corkett are the exclusive agents representing the Newport Beach real estate market as a member of the Haute Residence Real Estate Network. View all of their listings here.

Photos courtesy of Steve High

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According to a recent report by the Orange County Register, Southern Californian and national real estate agents have seen a “marked increase this year in foreign homebuyers shopping for bargains as the housing market bottomed out.” Agent Kim Chang noted there are numerous meetings with foreign clients who travel to Southern California for a quick “home buying spree”.

The report indicates that many of the Chinese and Asian buyers are paying all cash and buying homes as investment properties, vacation homes, retirement homes or a as a residence for children studying at local schools and universities. The Orange County Register says, “foreign buyers spent an estimated $82.4 billion on U.S. homes in the 12 months ending in March” and according to the National Association of Realtors’ (NAR) most recent survey, that is “up 24% from $66.4 billion the year before.”

Nearly 5% of all U.S. home sales are attributed to foreign buyers, which includes Chinese and Asian buyers but also Canadians who continue to purchase winter homes in warmer U.S. states like Arizona and Florida and Mexicans who invest in South Florida and Texas. In California alone, the NAR reports, “that foreign buyers accounted for 11% of California home sales”. In Orange County and Southern California specifically, overseas buyers are scooping up properties in a significantly higher proportion to the statewide average.

Broker and owner of Spectrum Realty in Irvine, Cayenne Kuang, told The Orange County Register, “I think they’ll keep coming as long as the Chinese government allows them to wire the money out because people there have so much money.”

Jacqueline Thompson of Surterre Properties, added, “I think the Chinese realized the urgency to buy up homes in the U.S. because they see that prices will increase. They’re beginning to realize the U.S. is a safe haven to pack their money in real estate.”

Image courtesy Forbes.

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