Thanks!
Curtis D. Harris, BS, CGREA, REB
Bachelor of Science in Real Estate, CSULA
State Certified General Appraiser
Real Estate Broker
ASTM E-2018 Commercial Real Estate Inspector
HUD 203k Consultant
HUD/FHA Real Estate Appraiser/Reviewer
FannieMae REO ConsultantCTAC LEED Certification
*PIRS/Harris Company and the Science of Real Estate-Partners*630 North Sepulveda Boulevard, Suite 9A, Number 702
El Segundo, CA. 90245
310-337-1973 Office
310-251-3959 CellWebSite: http://www.harriscompanyrec.com Resume: http://www.harriscompanyrec.com/CURRICULUMVITAENAME2011a.pdfCommercial Appraiser Blog: http://harriscompanyrec.com/blog/ We Make a Simple Pledge to
Communicate, in a timely fashion, each appraisal, analysis, and opinion without bias or partiality
Abstain from behavior that is deleterious to our clients, the appraisal profession, and the public
Hold paramount the confidential nature of the appraiser/consultant - client relationship
and
Comply with the requirements of the Uniform Standards of Professional Appraisal Practice and the
Code of Professional Ethics of the National Society of Real Estate Appraisers
IT'S THE LAW- Statement 7: Prohibition Against Discrimination
State agencies should be aware that Title XI and the Agencies' regulations prohibit federally regulated financial institutions from excluding appraisers from consideration for an assignment by virtue of their membership, or lack of membership, in any appraisal organization. Federally regulated financial institutions should review the qualifications of appraisers to ensure that they are qualified for the assignment for which they are being considered. It is unacceptable to assume that an appraiser is qualified solely due to membership in, or designation from, an appraisal organization, or the lack thereof. The Agencies have determined that financial institutions' appraisal policies should not favor appraisers from one or more organizations or exclude individuals based on their lack of such membership. If a State agency learns that a certified or licensed appraiser allegedly has been a victim of such discrimination, the State agency should inform the Agency which has regulatory authority over the involved financial institution. INCLUDING THE APPRAISAL INSTITUTE-MAICONFIDENTIALITY/PRIVILEGE NOTICE: This transmission and any attachments are intended solely for the addressee. The information contained in this transmission is confidential in nature and protected from further use or disclosure under U.S. Pub. L. 106-102, 113 U.S. Stat. 1338 (1999), and may be subject to consultant/appraiser-client or other legal privilege. Your use or disclosure of this information for any purpose other than that intended by its transmittal is strictly prohibited and may subject you to fines and/or penalties under federal and state law. If you are not the intended recipient of this transmission, please destroy all copies received and confirm destruction to the sender via return transmittal
From: Girdling REIG [mailto:[email protected]]
Sent: Tuesday, February 28, 2012 5:30 AM
To: [email protected]
Subject: Newport Beach Home Price Index
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The chart above also shows that prices are approaching levels that would have resulted if prices had appreciated at a constant appreciation rate of 4% (see red line). Since 2007, prices have shown more variability, the result of a greater number of high-end, luxury properties that sold in the period and a reduced number of overall sales each period since 2007. For example, the number of sales in 2008 compared to 2003 was down 53.5%. As a result, there has been a less orderly decline as compared to the appreciation from 2000 to 2007. The NBHPI illustrates that the luxury market has been somewhat resilient when compared to other real estate markets, especially in the past 18 to 24 months. One of the main reasons is that there are fewer distressed properties in the Newport Beach market. The NBHPI also shows that prices have leveled and actually shown improvement in some neighborhoods (up 8.1% since Q1 2010). The NBHPI confirms that home values in a luxury home market like Newport Beach perform much differently than other more mainstream markets. Conversely, the statewide median price of an existing, single-family, detached home fell to $268,280 in January 2012. That is down 6.7% from $285,920 in December 2011. The median price also dropped 3.9 percent from the revised $279,220 median price recorded in January 2011. The decline in the January median home is largely a reflection of an increase in the share of distressed home sales (Source: CA Association of Realtors). The neighborhoods included in the NBHPI are listed below: ·
Balboa Island
·
Harbor View Hills South
·
Bayshores
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Irvine Terrace
·
Belcourt
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Jasmine Creek
·
Big Canyon
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Lido Island
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Bonita Canyon
·
Newport Heights
·
Cameo Shores
·
One Ford Road
·
Castaways
·
Peninsula/Peninsula Point
·
Corona Del Mar
·
Harbor View (Port Streets)
·
Dover Shores
·
Shore Cliffs
·
East Bluff
·
Spyglass
·
Harbor Cove
·
West Newport
·
Harbor/Linda Isle & Bayside Dr.
·
Westcliff
·
Harbor Ridge
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The Girling REIG Team (affiliated with HÔM Sotheby's Real Estate Group)
Bing Girling: 949-887-7733, [email protected], DRE License #00843565
Dave Girling: 949-280-1212, [email protected], DRE License #01852613
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"ANY LISTINGS AND/OR SALES CONTAINED HEREIN REPRESENT A COMPILATION OF ACTIVITY IN THE MARKET BASED IN WHOLE OR IN PART BY DATA COMPILED FROM THE SO CAL MULTIPLE LISTING SERVICE AND INCLUDES PROPERTIES LISTED AND/OR SOLD BY OTHER BROKERAGES. THE ACCURACY OF THE INFORMATION IS DEEMED RELIABLE BUT IS NOT GUARANTEED BY HOM REAL ESTATE GROUP OR THE SO CAL MLS. ANY INDIVIDUAL OR ENTITY INTENDING TO RELY ON THIS INFORMATION SHOULD SEEK VERIFICATION THROUGH PERSONAL INVESTIGATION OR INVESTIGATION BY APPROPRIATE PROFESSIONALS." ALL MATERIAL PRESENTED HEREIN IS BELIEVED TO BE RELIABLE BUT WE CANNOT ATTEST TO ITS ACCURACY. OPINIONS EXPRESSED IN THESE REPORTS MAY CHANGE WITHOUT PRIOR NOTICE. COMMUNICATIONS FROM GIRLING REIG ARE INTENDED SOLELY FOR INFORMATIONAL PURPOSES. STATEMENTS MADE BY VARIOUS AUTHORS AND OTHER CONTRIBUTORS DO NOT NECESSARILY REFLECT THE OPINIONS OF GIRLING REIG, AND SHOULD NOT BE CONSTRUED AS AN ENDORSEMENT BY GIRLING REIG, EITHER EXPRESSED OR IMPLIED. GIRLING REIG IS NOT RESPONSIBLE FOR TYPOGRAPHIC ERRORS OR OTHER INACCURACIES IN THE CONTENT. WE BELIEVE THE INFORMATION CONTAINED HEREIN TO BE ACCURATE AND RELIABLE. HOWEVER, ERRORS MAY OCCASIONALLY OCCUR. THEREFORE, ALL INFORMATION AND MATERIALS ARE PROVIDED "AS IS" WITHOUT ANY WARRANTY OF ANY KIND. IF YOUR PROPERTY IS CURRENTLY LISTED, THIS IS NOT A SOLICITATION FOR THAT LISTING THIS NEWSLETTER IS INTENDED FOR THE USE OF THE INDIVIDUAL OR ENTITY TO WHICH IT WAS INTENDED TO BE DELIVERED. IT CONTAINS INFORMATION THAT IS PRIVILEGED, PROPRIETARY, CONFIDENTIAL AND EXEMPTED FROM DISCLOSURE UNDER APPLICABLE LAW. IF THE RECIPIENT OR READER OF THIS NEWSLETTER IS NOT THE INTENDED RECIPIENT, OR THE EMPLOYEE OR AGENT RESPONSIBLE FOR THE DELIVERY OF THE NEWSLETTER TO THE INTENDED RECIPIENT, THE RECIPIENT OR READER IS HEREBY NOTIFIED THAT ANY USE, APPLICATION, REVELATION, DISCLOSURE, DISSEMINATION, DISTRIBUTION OR COPYING OF THIS NEWSLETTER IS STRICTLY PROHIBITED WITHOUT PERMISSION. IF RECEIVED IN ERROR, PLEASE NOTIFY GIRLING REAL ESTATE INVESTMENT GROUP IMMEDIATELY BY TELEPHONE AT 1-949-280-1212.
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