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REAL ESTATE
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ADVICE

Top 4 mortgage & real estate scams ...

... and some tips to keep you
from becoming the next victim
By Deborah Kearns
Bankrate.com
The last thing consum-
ers should have to worry
about is being scammed
when they buy or rent a
home or consider refinanc-
ing options. Unfortunately,
criminals are getting more
creative in how they target
their victims, leading to
major financial headaches
for their unsuspecting vic-
tims.
In 2017 alone, 9,645 vic-
tims reported real estate
fraud, resulting in losses
of more than $56.2 million,
according to data from the
Federal Bureau of Inves-
tigation’s Internet Crime
Complaint Center.
Many people are too
embarrassed to file com-
plaints, making it harder
to catch the scammers who
repeatedly victimize un-
witting homeowners and
homebuyers, says Melinda
Opperman, executive vice
president of community
outreach and industry re-
lations with Credit.org —
a nonprofit credit counsel-
ing agency and member of
the National Foundation
for Credit Counseling, or
NFCC.
“It’s a huge problem,”
Opperman says. “A lot of
the time, people don’t real-
ize that using public WiFi
connections where they
conduct personal business
through email or websites
opens them up to (these
scams) because the commu-
nications are not secure.”
Here are four common
real estate and mortgage
scams to keep on your ra-
dar — and tips to avoid be-
coming a scammer’s next
victim.
Escrow wire fraud
What it looks like: You
get an email, phone call or
text from someone purport-
ing to be from the title or
escrow company with in-
structions on where to wire
your escrow funds. Fraud-
sters set up fake websites
that appear similar to the
title or lending company
you’re working with, mak-
ing it seem like the real
deal. Scammers use spoof-
ing tactics to make phone
numbers, websites and
email addresses appear fa-
miliar, but one number or
letter is off — an easy thing
SCAM » PAGE 2

ANALYSIS LOAN

Go into
debt to
pay rent?
You may
pay dearly
By Marisa Kendall
The Mercury News
As soaring prices leave many
California residents struggling to
pay rent, one startup is offering
an innovative but controversial op-
tion for tenants in a bind — finance
your rent with a high-interest loan.
Santa Monica-based Domuso
allows some local renters to take
out six or 12-month loans at an
average annual interest rate of
27 percent to avoid paying late
fees to their landlords or risk los-
ing their homes. The service is for
tenants unable to cover hefty one-
time move-in expenses like se-
curity deposits and first and last
month’s rent, or who fall behind on
a monthly rent payment because of
an unexpected sickness, layoff, or
other financial emergency.
“There’s a very high percent-
age of people … that are paycheck
What really determines who can afford a house? It’s not always about six-figure salaries, according to one survey. In Los Angeles and Orange to paycheck,” said Domuso co-
counties, 44 percent of buyers made less than $100,000 in 2017, according to Zillow. founder and COO Michael Light-

Just how ‘unaffordable’ is

foot, “and there’s very little room
when it comes to bumps in that fi-
nancial road.”
Domuso’s loan model is mak-
ing some experts uncomfortable.

Southern California housing?

Saying your product is “unaf-
fordable” is bad salesmanship
for housing.
We know it’s not easy to com-
fortably afford lo-
cal housing. And,
yes, compared
with other parts
of the nation, the
bang for the buck
of a home pur-
Jonathan chase can seem
Lansner skimpy.
Columnist But we’re wit-
nessing the slow-
est homebuy-
ing stretch in eight years as
the count soars for unsold list-
ings and new homes. I’m won-
dering if some potential home-
buyers have been scared off by
repeated knocks about “unaf-
fordable” Southern California
housing and claims that six-fig-
ure incomes are required to be
successful house hunters.
Take note of what I found
when I put into my trusty
spreadsheet a recent affordabil-
ity study by housing tracker Zil-
low based on 2017 census hous-
ing data, the latest available.
In Los Angeles and Orange
counties, 44 percent of buy-
ers made less than $100,000 in
2017. That’s down from 55 per-
cent in 2012 as the Great Reces-
sion ended. Nationally, the re-
gion ranks 28th among the 35
U.S. metros Zillow tracked.
However, look at one much-
discussed affordability marker
from the California Association
of Realtors: At midyear 2017,
the industry group suggested
a typical buyer of a single-fam-
ily home in Orange County
would need an annual income
of $158,000 or $103,000 in Los
Angeles.
Why this gap between six-fig-
ure measurements?
This Realtor benchmark and
other affordability indexes usu-
ally assume conservative home-
buying finances — such as put-
ting 20 percent down and
spending only 30 percent of in-
come on house payments for
a fixed-rate mortgage. These
yardsticks also compare a “typi-
cal” house hunter making a me-
dian income buying housing at
the median price.
That’s not how it works for
many folks seeking an afford-
able home.
The real world offers South-
ern California buyers more gen-
erous terms than these high-
profile affordability measure-
ments. Mortgages with small
down payments are widely
available. Adjustable-rate deals
— with cheaper initial rates —
are common. And some lenders
will let a borrower into a mort-
gage that pushes a family’s debt
payments up to roughly half of
its income.
Of course, budget-strapped
house hunters also look to the
region’s bargains in the Inland
Empire.
In Riverside and San Ber-
nardino counties, Zillow says
64 percent of buyers didn’t
make six figures. That’s sev-
enth-best on this scorecard and
tops the nation’s 62 percent of
buyers with incomes less than
$100,000 in 2017.
Maybe that’s why the num-
ber of Inland Empire buyers, by
Zillow’s math, grew 34 percent
in 2012-2017 vs. just 7 percent
in L.A.-OC. Of course, Inland
Empire home savings come at
a societal cost — those jammed
freeways.
So I’m puzzled as to why the
real estate industry isn’t pub-
licly pushing harder to get
house hunters up to speed on
what may be seen as nontradi-
tional buying strategies. The
use of adjustable-rate loans for
purchases, for instance, runs
well-below historical levels. I
used an ARM on my first home
purchase three decades ago —
a Santa Ana condo — when a
fixed mortgage ran 10 percent.
Certainly, making huge fi-
nancial stretches is not for ev-
eryone. Or accepting a lengthy
commute. But let’s politely note
that creativity in Southern Cal-
ifornia homebuying long has
been required. And perhaps
that skill isn’t being tapped
enough.
Riskier borrowing can —
and has — come back to haunt
homebuyers. Who can forget
last decade’s lending high jinks?
The Zillow data suggest more
than a few house hunters are
will to stretch a budget to buy.
Or they’re willing to settle for
the few low-end housing bar-
LANSNER » PAGE 2
Financing rental payments like a
car or a house, especially with a
27 percent interest rate — higher
than the national credit card av-
erage of 17.5 percent — could end
up plunging a tenant into a deep
hole of debt.
“It seems like another preda-
tory scam, and a distraction from
the real problem of obscene rents,”
Kristi Laughlin, senior campaign
director for the East Bay Alliance
for a Sustainable Economy, wrote
in an email.
But Lightfoot maintains his
loans help renters, as opposed to
taking advantage.
“We have no intent of going
down a path of payday lending, or
anything in that regard,” he said.
Domuso partners with com-
panies that manage large, multi-
family buildings in California, Ar-
izona, Utah and Colorado. Once a
deal is reached, tenants of those
buildings must use the Domuso
platform to pay their rent — they
can use the mobile app to pay di-
rectly from their bank account, use
a credit card, deposit cash via Mon-
eyGram or set up a loan. Most op-
tions come with a “convenience
fee,” which varies depending on
the property and type of transac-
tion. Users who pay via their bank
account, for example, are charged
fees of up to $1.99.
Domuso — which got its name
from the Latin root “domus,”
DOMUSO » PAGE 2

TOP 10

SEE THE MOST EXPENSIVE ORANGE COUNTY HOME SALES OF 2018

More high-end home
sales closed than ever in
Orange County in 2018.
But the second half of
the year saw a dramatic
slowdown. Here are the
10 priciest sales last year.
COURTESY PHOTOS
PAGES 6-7
This Strand Beach Drive home in Dana Point is worth $19.625 million. This home in Laguna Beach’s Irvine Cove was sold for $35.82 million.
 2 | Y
REAL ESTATE | THE ORANGE COUNTY REGISTER » OCREGISTER.COM
MORTGAGES
Consider a bridge loan to avoid a fire sale
RATE NEWS SUMMARY
» From Freddie Mac’s
weekly survey: The 30-
year fixed averaged 4.46
percent, increasing one
basis point from the pre-
vious week. The 15-year
fixed rate also increased 1
basis point from the previ-
ous week, landing at 3.89
percent. Rates have been
flat for four weeks.
The Mortgage Bankers
Association reported a 3
percent decrease in loan
application volume from
the previous week.
Bottom line: Assuming
a borrower gets the aver-
age 30-year fixed rate on
a conforming $484,350
loan, last year’s payment
was $69 lower than last
week’s payment of $2,443.
What I see: Locally,
well-qualified borrow-
ers can get the follow-
ing fixed-rate mortgages
at a zero point cost: A 15-
year FHA (up to $431,250
in the Inland Empire, up
to $484,350 in Los An-
In 2017 alone, 9,645 victims reported real estate fraud, resulting in losses of more than $56.2 million, according to
data from the Federal Bureau of Investigation’s Internet Crime Complaint Center.
Scam
FROM PAGE 1
to miss at first glance, Op-
perman says.
So you follow the wire
instructions and assume
all is well when, in fact,
you’ve just become the lat-
est victim of escrow fraud.
The scammers? They’ve
withdrawn the funds from
an offshore account some-
where and are sailing into
the sunset with your hard-
earned money. Meanwhile,
you have few options for re-
trieving it.
How to protect yourself:
Before you send money to a
third party, go back to the
original documents you
received from your lender
and call the phone num-
bers listed there to ver-
ify the wiring instructions
you received. Never click
on email or text links, or
send money online, with-
out verifying wire instruc-
tions with a live person on
the phone from a number
that you’ve called and ver-
ified, Opperman says.
Be wary of any email or
text requesting a change
to wiring instructions you
already have, says Odeta
Kushi, senior economist
with First American Finan-
cial Corporation. Always
confirm the escrow ac-
count number before wir-
ing money, and call your
settlement agent to verify
the transfer of the funds
immediately after you’re
done, she advises.
Loan flipping
What it looks like: Loan
flipping is when a pred-
atory lender persuades a
homeowner to refinance
his mortgage repeatedly,
often borrowing more
money each time. The
scammer charges high fees
and points with each trans-
action, and homeowners
get stuck with higher loan
payments they can’t afford
after being duped into
borrowing most of their
home’s equity, Opperman
says.
Seniors with memory
impairment are especially
vulnerable to such scams
because they have signifi-
cant home equity and may
not realize they’re being
geles and Orange
Counties) is at 3.50
percent, a 30-year
FHA at 3.625 per-
cent, a 15-year con-
ventional at 3.625
percent, a 30-year Jeff
at 4.125 percent, a Lazerson
30-year FHA high- Columnist
balance (from
$484,351 to $726,525 in
L.A. and Orange coun-
ties) at 4.0 percent, a 15-
year conventional high-
balance (also $484,351
to $726,525) at 3.875 per-
cent, a 30-year high con-
ventional high-balance at needed to sell all the
4.375 percent, a 15-year
jumbo (over $726,525) at
4.125 percent and a 30-
year jumbo at 4.625 per-
cent.
What I think: Forget the ing to Steven Thomas of
potentially skewed spike
(federal workers being fur-
loughed) in last week’s
unemployment claims.
Rather, consider Janu-
ary data from Challenger, not have an offer in sight?
Gray & Christmas show-
ing U.S.-based employ-
taken advantage of, Opper-
man says. Predatory lend-
ers convince homeowners
they can help them find a
better loan product or use
a cash-out refinance to
pay for home renovations
to make their homes more
accessible as they age in
place, Opperman says.
How to protect your-
self: Elderly homeowners
who have cognitive issues
should involve a trusted
relative or friend in any key
financial discussion, espe-
cially about tapping home
equity. If you’ve recently
completed mortgage refi-
nance, it’s usually not in
your best interest to do
another transaction right
away, Opperman says.
If predatory lenders are
actively seeking you out
and you haven’t requested
their help, that’s another
warning sign that some-
thing is off. Work only
with known banks or lend-
ers, and question all fees
and penalties presented to
you, Opperman says. Lend-
ers are required to provide
loan estimates and closing
disclosures that list all fees
and third-party costs; re-
view these documents care-
fully, or have a trusted ad-
viser do this, if you are re-
financing your mortgage.
Foreclosure relief
What it looks like: Peo-
ple who fall on hard times
and get behind on their
mortgage payments can
become desperate to save
their homes. That’s when
scammers, who have access
to public records of homes
in pre-foreclosure, swoop
in with offers of foreclo-
sure relief to capitalize on
homeowners’ vulnerability,
Opperman says.
“Scammers will claim
that they can help home-
owners save their homes
and reduce their mortgage
payments for a large, up-
front fee,” Opperman says,
“but they often leave our
clients in worse financial
shape.”
Some fraudsters claim
they’re affiliated with the
government or govern-
ment housing assistance
programs and can swindle
homeowners out of hun-
dreds or even thousands
of dollars in fees, accord-
ing to the Federal Trade
ers plan to cut al-
most 53,000 jobs
— more than a 20
percent spike from
December’s data of
employers cutting
bait.
December home
sales were down
10.3 percent from a
year ago, according to the
National Association of
Realtors (and 20.3 percent
in Southern California, ac-
cording to CoreLogic).
And the “market time”
— or the theoretical time
homes on the market —
nearly doubled in South-
ern California to more
than 4 months from 2½
months a year ago, accord-
Reports on Housing.
So what do you do if you
are eyeing a home to buy
but your departing resi-
dence, listed for sale, does
Consider a bridge loan.
Also known as a swing
Commission.
How to protect your-
self: The best way to avoid
foreclosure is to work di-
rectly with your loan ser-
vicer to modify your exist-
ing loan, request forbear-
ance, or make some other
arrangement. Homeown-
ers can first enlist the help
of a HUD-accredited hous-
ing counselor to see what
options they have, then in-
clude their counselor on
a three-way call to their
lender to find solutions, Op-
perman says.
“A scammer will tell you
not to talk to your lender,
and that’s a huge red flag,”
Opperman says. “It’s hard
to speak to your lender
when you’re in imminent
default or become delin-
quent because you’re afraid
it might speed up (losing
your home). But you have
to open the lines of commu-
nication with your lender.”
Rental scams
What it looks like: Scam-
mers post property rental
ads on Craigslist or social
media pages to lure in un-
suspecting renters, some-
times using photos from
other listings. The scam-
mers, who have no connec-
tion to the property or its
owner, will ask for an up-
front payment to let you
see the property or hold
it as a deposit. In reality,
they’re just looking to get
quick cash through nefar-
ious means.
Rental scams are alarm-
ingly common. An esti-
mated 5.2 million U.S.
renters say they have lost
money from rental fraud,
according to a recent sur-
vey from ApartmentList.
Younger renters are the
likeliest victims, with 9.1
percent of 18- to 29-year-old
renters having lost money
on such a scam, compared
with 6.4 percent of all rent-
ers, the survey revealed.
And of those who did lose
money to scammers, one
in three lost more than
$1,000, likely after paying
a security deposit or rent
on a fake rental property,
ApartmentList found.
How to protect your-
self: Be suspicious of any-
one who asks for a cash de-
posit upfront to see a prop-
erty, says Nicole Durosko
of Warburg Realty in New
loan, it’s a fast, generally
easy but certainly more
expensive way to extract
presale equity from your
home to buy your up-leg
abode.
Typically, swing loans
are either second liens
against your home or new
first liens (you must refi-
nance any existing first
into this loan), due in less
than one year. There are
no prepayment penalties,
and the monthly repay-
ment is interest-only (not
principal and interest).
If you are getting a
screaming deal on your
up-leg or you don’t want to
accept a fire sale offer on
your departing residence,
then this tool can conceiv-
ably facilitate a significant
net savings.
The three most impres-
sive bridge loans that I
found were:
• With as little as 30
percent remaining home
equity, extract 100 percent
of the up-leg sales price
York City. Ensure you’re
dealing with the real prop-
erty owner before negotiat-
ing rental terms or seeing a
property in person. You can
search the local property
appraiser’s website to find
out who the current prop-
erty owner is and look for
contact information online.
“Avoid doing transac-
tions via email or on the
phone,” Durosko says. “It’s
best to be face to face to
confirm the property own-
ership, sign any required
documentation and (make
a) payment.”
Use a check (never cash)
to make a payment so you
have an automatic receipt
of it, Durosko advises. Fi-
nally, always insist on
speaking with the prop-
erty owner before signing
a contract or making a pay-
ment if someone says he’s
representing the owner.
If someone claims to be a
real estate agent, ask to see
his license and take a pic-
ture of it so you can con-
firm the information on-
line through your state’s
division of real estate li-
censing, Durosko says.
Next steps to take
if you’re targeted
Trust your gut if some-
thing doesn’t feel right or
seems too good to be true.
Work with only profes-
sional lenders associated
with local and/or national
trade associations, and
ask for referrals from fam-
ily members and friends. If
you’re an older homeowner
(or a caregiver to someone
who is), be on your guard
when companies pressure
you to tap your home eq-
uity.
If you suspect a scam-
mer is trying to target
you, don’t open any email
links or respond to any
messages. Instead, re-
port the activity to your
local police department.
To report fraud, identity
theft or financial scams,
visit the FTC’s complaint
website, click on the FTC
Complaint Assistant icon,
and answer the questions.
(Note: Complaints were
not being processed dur-
ing part of the partial gov-
ernment shutdown. The
fate of such complaints is
uncertain at present.)
SUNDAY, FEBRUARY 3, 2019
in less than two weeks Let’s be very clear
— effectively being able about the risk. Besides
to compete with all cash any monthly payment ob-
buyers on this cross-col- ligations between the
lateralization mortgage properties, if you don’t
(liens on both properties). pay the bridge lender
The rate is 8.95 percent back per the balloon pay-
with total points of 3 to 4. ment due on the mort-
Bridge loan deferred in- gage note, foreclosure is
terest payments are also looking you squarely in
in play. the eye.
• A new first with long- If you can’t cover the
term financing at an inter- payments for X months,
est rate of 6.99 percent for don’t do it.
clean borrowers, requir- In my 32 years as a
ing just 20 percent equity mortgage broker, most
left on your departing res- sellers tend to have an in-
idence. flated and less realistic
Zero closing costs for sense of their homes’ value
this loan. in comparison to their Re-
• Maximum 80 percent altors’ view. Look at the
equity cash-out, no income data. Look at sales trends.
or job needed, no qualify- Don’t be greedy. Price real-
ing, with credit scores ac- istically.
cepted down to 620. The
rate is about 9 percent Mortgage broker
with about 3 or 4 points Jeff Lazerson can be
cost. Primary homes, sec- reached at 949-334-
ond homes, duplexes, tri- 2424 or jlazerson@
plexes and fourplexes all mortgagegrader.com. His
are acceptable. So are in- website is mortgagegrader.
vestment properties. com.
and often get criticized as
Domuso being predatory — though
Lightfoot is quick to draw
FROM PAGE 1 a line between his company
and payday lenders.
meaning home — began of- “It’s too easy to look to
fering loans for rent pay- the interest rates, which
ments in Southern Cali- are enormously high, and
fornia two years ago and say people are being ripped
expanded the service to off,” Berk said. But the data
Northern California about show “people tend to use it
six months ago. So far, the in cases of emergency. So if
company offers the option to they don’t use it, things can
a few thousand households spiral out of control.”
in Fremont, Monterey and Without high interest
Sacramento, and has plans rates, such loans would not
to expand. be profitable and would
“We’re really just getting cease to exist, Berk said.
started,” Lightfoot said. There are other local pro-
Domuso currently accepts grams that offer emergency
about 30 percent of tenants funds to renters without the
who apply for a loan, reject- pay-back requirement. Hous-
ing those who don’t pass ing Trust Silicon Valley, for
the company’s credit check. example, provides grants of
Lightfoot hopes eventually up to $2,500 to cover the se-
to extend the company’s ser- curity deposit for a family
vices to renters with poorer moving into a new home.
credit, without adding huge Using credit for rental
increases to the company’s payments is not a new con-
interest rates. cept, Lightfoot said. Be-
Domuso interest rates tween 2 and 5 percent of res-
fluctuate depending on the idents pay rent using credit
borrower’s credit and can go cards, according to Domu-
as low as 18 percent in Cal- so’s data.
ifornia. The interest rate is
an annual figure, so renters
“This isn’t something that
we’re trying to convince peo-
who pay off their loans more ple to do,” Lightfoot said.
quickly end up paying less, “It’s something they’re al-
Lightfoot said. ready doing. We’re just giv-
Still, Serena Laws, a po- ing them a safe alternative
litical science professor at that is digital.”
Trinity College who studies Most credit card compa-
bankruptcy and debt, called nies charge transaction fees,
the Domuso loan model “re- which landlords often pass
ally troubling.” on to tenants, Lightfoot said.
Laws pointed to Domu- Other landlords don’t accept
so’s high interest rate as a credit cards at all.
red flag. Nationally, the av- Domuso addresses an ob-
erage credit card inter- vious need, but not in the
est rate is 17.51 percent, ac- best way, said Mathew Reed,
cording to CreditCards.com, policy manager for afford-
which publishes weekly rate able housing advocacy or-
reports. Domuso says its av- ganization SV@Home. There
erage rate is higher because are families all over the state
its borrowers tend to have who are one unexpected bill
poorer credit than the na- away from falling behind
tional average. on rent — a predicament
But Stanford finance pro- that can force them to look
fessor Jonathan Berk said for payday advances, borrow
the Domuso platform seems from friends and family, take
like a good thing. The rea- on second jobs or even cut
son is simple: “If you have back on food and medicine
the loan, you can stay in your to make their rent payments.
house,” he said. “I think we should all be
Berk compared the Do- concerned,” Reed said, “that
muso loans to payday ad- the best options we can offer
vances — which typically people are super high-inter-
charge high interest rates est loans.”
JEFF VENDSEL — MARIN INDEPENDENT JOURNAL
Santa Monica-based Domuso allows some local renters
to take out six or 12-month loans at an average annual
interest rate of 27 percent to avoid paying late fees to their
landlords or risk losing their homes.
ports stating local housing
Lansner is in “shortage” and “unaf-
fordable” — in part creating
FROM PAGE 1 political pressure for more
building — can have an un-
gains in the local market. intended consequence, too.
Or maybe they have gener- Like, perhaps, being
ous relatives helping make part of why Southern Cal-
a deal work. ifornia home sales took
California’s push to cre- their steepest plunge in
ate more housing, espe- December since the Great
cially lower-priced options, Recession.
certainly requires less-
than-subtle nudges. jlansner@scng.com
Yet the barrage of re- @jonlan on Twitter
SUNDAY, FEBRUARY 3, 2019 THE ORANGE COUNTY REGISTER » OCREGISTER.COM | REAL ESTATE Y
|3
OC home prices and sales THINK FLIPPING HOMES IS SEXY?
For the month of December, Orange County homes sales were down 26.0% compared HERE IS SOMETHING EVEN SEXIER!
with one year ago, according to CoreLogic. The median price rose 1.6%. The median is the
point at which half the homes sold for more and half for less. Types of homes selling, as
well as home value changes, cause the median to change.
Median sales price Sales volume
Mortgage Pool –
ZIP previous % change previous % change Trust Deed Investments
code 4 weeks from ’18 4 weeks from ’18
Aliso Viejo 92656 $592,500 20.9% 36 -37.9% Preferred
Anaheim
Anaheim
92801
92802
$508,500
$532,500
0.7%
6.3%
21
20
-36.4%
-20.0%
Rate of 9%*
*Preferred rate is target rate for investor partner distributions,
Anaheim 92804 $570,000 7.5% 31 -27.9% actual partner distributions exceeded this rate for the last 12 month
period, this represents past performance. Past performance does
Anaheim 92805 $530,000 1.9% 31 -16.2% not guarantee future results. Current performance may be lower or
higher than the performance data presented.
Anaheim 92806 $600,000 4.5% 17 6.3%
Anaheim 92807 $675,000 -10.0% 35 -12.5% Real Estate “flipping” has become glamorized by reality TV, but in the real
Anaheim 92808 $612,500 14.5% 20 -4.8% world it is much more glamorous to just get paid and let someone else do the
Brea 92821 $615,000 -6.7% 21 -46.2% work! We loan funds to real estate investors—they borrow to purchase real
Brea 92823 $908,750 11.2% 4 -69.2% estate, refurbish, and resell for a profit—the borrower does all the work and
takes all the risk. We secure our interest in the property with a deed at a low
Buena Park 90620 $562,500 -3.0% 24 -11.1% loan to value when the investor resells the home we get paid first!
Buena Park 90621 $630,000 14.8% 21 -32.3%
ACCEPTING NEW ACCREDITED INVESTORS • $50,000 MINIMUM
Corona del Mar 92625 $2,750,000 7.3% 13 -27.8%
Costa Mesa 92626 $805,000 6.8% 24 -29.4% Aegis Realty, Inc.
Costa Mesa 92627 $789,000 -8.3% 39 -9.3% DBA Aegis Funding
Cypress
Dana Point
90630
92624
$687,500
$1,055,000
-1.8%
-10.9%
21
2
-63.8%
-50.0%
714.465.4611
Dana Point 92629 $991,500 13.6% 28 -22.2% www.aegis-funding.com BRE License # 1856655

Foothill Ranch 92610 $1,043,500 59.9% 36 260.0% This is not an offer to sell securities. Accredited investors should contact us for more information.
Investment in the mortgage pool involves substantial risks and is not government insured.
Fountain Valley 92708 $780,000 8.0% 31 10.7%
Fullerton 92831 $670,000 -3.4% 24 20.0%
Fullerton 92832 $625,250 53.1% 12 20.0%
Fullerton 92833 $585,000 0.0% 14 -62.2%
Fullerton 92835 $807,500 5.2% 16 -40.7%
Garden Grove 92840 $619,750 10.2% 20 -37.5% Give your heart to a pet in need!
Garden Grove 92841 $713,500 14.2% 16 0.0%
Garden Grove 92843 $572,000 13.8% 18 -25.0% Pet Adoption Section. Publishing
LACY
Garden Grove 92844 $635,000 38.0% 8 -27.3% Monday, February 25, 2019
Garden Grove 92845 $660,000 3.1% 15 25.0% For only $20 you can Sponsor a photo
Huntington Beach 92646 $755,000 17.6% 33 -52.9% of a pet in a local shelter. The photo
Huntington Beach 92647 $708,000 3.4% 25 25.0% will appear in our next Pet Adoption
Huntington Beach 92648 $949,000 10.3% 25 -24.2% section. The goal of sponsoring is to
Sponsored By:
Huntington Beach 92649 $859,000 24.5% 29 -23.7% Your Name and Text Here find all sponsored pets a loving home.
Irvine 92602 $1,325,500 -4.5% 59 3.5%
Irvine 92603 $1,535,000 8.9% 13 -48.0% Return this ticket with your check to:
Irvine 92604 $773,000 4.5% 13 -51.9% Orange County Register, Attn: Mabel, 1st Floor
2190 S. Towne Centre Place, Anaheim, CA 92806
Irvine 92606 $670,000 -19.3% 3 -72.7%
Irvine 92612 $620,000 -16.0% 42 82.6% Deadline: Friday, February 15, 2019 • $20 per pet sponsorship
Irvine 92614 $700,000 13.5% 17 6.3% Name: Phone:
Irvine 92618 $963,000 18.3% 113 -34.7%
Address: Number of Sponsorships:
Irvine 92620 $1,080,000 19.7% 71 -28.3%
Ladera Ranch 92694 $726,000 -3.2% 101 -15.8% City: Total Amount:
La Habra 90631 $550,500 6.9% 64 45.5% State/Zip: Sponsored By:
La Palma 90623 $673,000 -10.9% 6 -45.5%
Laguna Beach 92651 $1,633,250 8.9% 12 -64.7% For more information call 714-796-6723
Laguna Hills 92653 $620,000 -17.9% 19 -24.0% or email mgarcia@ocregister.com
Laguna Niguel 92677 $735,000 -1.3% 62 -18.4%
Laguna Woods 92637 $398,000 11.2% 29 -32.6%
Lake Forest 92630 $707,750 3.7% 56 -45.6%
Los Alamitos 90720 $825,000 -7.3% 19 26.7%
Midway City 92655 $680,000 7.0% 6 20.0%
Mission Viejo 92691 $657,000 -3.4% 40 2.6%
Mission Viejo 92692 $715,000 9.0% 42 -44.0%
Newport Beach 92660 $1,480,000 -21.2% 29 -25.6%
Newport Beach 92661 $2,615,000 -2.2% 3 -57.1%
Newport Beach 92662 $4,550,000 112.1% 1 0.0%
Newport Beach 92663 $1,180,000 18.6% 23 -25.8%
feBruarY sPecial
Fixed Rate Mortgage
gag
Newport Coast 92657 $3,010,000 -38.6% 15 -51.6%
Orange 92865 $668,250 6.1% 8 -65.2%
Orange 92866 $648,000 -4.8% 10 0.0%
Orange 92867 $672,500 -1.1% 30 -18.9%
Orange
Orange
Placentia
92868
92869
92870
$533,250
$575,000
$631,750
-1.4%
-9.7%
8.8%
13
32
33
62.5%
-20.0%
-19.5%
Purchase
3.582% aPr
hase or refinance (cash ouT) To $3 Million
M
Rancho Santa Margarita 92688 $635,000 27.0% 29 -59.7%
San Clemente 92672 $1,368,000 41.0% 44 -6.4% consolidaTe 1sT and 2nd MorTgages
San Clemente 92673 $812,000 -15.4% 30 -3.2%
San Juan Capistrano 92675 $741,000 -15.9% 41 -14.6%
Santa Ana 92701 $333,000 -25.9% 21 -4.5%
Santa Ana 92703 $550,250 4.8% 24 -54.7%
Santa Ana 92704 $425,000 -21.4% 31 -27.9%
Santa Ana 92705 $990,000 13.8% 28 3.7%
Santa Ana 92706 $615,000 2.7% 18 -21.7%
Santa Ana 92707 $559,000 30.0% 16 -15.8%
Seal Beach 90740 $756,000 32.6% 11 -31.3%
Stanton 90680 $525,000 26.5% 13 -7.1%
Trabuco/Coto 92679 $950,000 8.6% 39 -20.4%
Tustin 92780 $592,500 -5.2% 18 -37.9%
Tustin 92782 $649,500 -46.8% 22 -46.3%
Villa Park 92861 $1,930,000 60.2% 5 0.0%
Westminster
Yorba Linda
92683
92886
$660,000
$775,000
7.8%
-5.7%
31
30
-39.2%
-46.4%
JuMBo lending niche PrograMs
Yorba Linda 92887 $790,000 -6.2% 24 0.0%
• Income Properties to $3 Million “Cash Out”
Total resale houses $750,000 1.5% 1,279 -22.9% No Income Documentation Required
Total condominiums $500,000 4.2% 555 -24.8% • Foreign National Loans Low Rates
Total new homes $961,500 11.6% 426 -35.3% Purchase or “CASH OUT”
All homes $708,500 1.6% 2,260 -26.0% • No Limits on Number of Income Properties
*Does not include co-ops • Cross Collateralize Properties to
PRICES SALES VOLUME Offset the Need for Down Payment

u u u d d d
on Purchase or “CASH OUT”
• Consolidate 1st and 2nd Mortgages
1.5% 4.2% 11.6% -22.9% -24.8% -35.3% • No Tax Returns Needed for Self Employed Borrowers
Resale Resale New Resale Resale New SERVING ORANGE COUNTY SINCE 2003
houses condos homes houses condos homes

WE DO JUMBO!
MEDIAN PRICE SALES VOLUME HOME PAYMENTS 877-336-0969
u
$708,500
u
2,260
u
$3,501.88
Call Us for Benefit Analysis.
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Median price up from Sales volume up from OC home payments up All loans will be subject to credit and property approval. Program and terms are subject to change without notice.
*Sample payments are based on 10 year fixed interest only with 40 year amortization. Credit score 680 and
a year ago a year ago from $3,232.58 a year ago LTV 75% no impound account included. Jumbo-Lending.com is a California mortgage broker, licensed by the
California Department of Real Estate. License #01471896 NMLS 649359
 4 | Y
REAL ESTATE | THE ORANGE COUNTY REGISTER » OCREGISTER.COM SUNDAY, FEBRUARY 3, 2019

COMMERCIAL REAL ESTATE BUYING AND

New industrial buildings risky

SELLING

Industrial buildings —
where folks make, store,
stage, service and ship
things — have been the
darling of
investors
and devel-
opers for
almost 10
years.
Given the
Allen C. simplicity of
Buchanan
Contributing design and
Columnist the flexibil-
ity of uses,
these large,
concrete boxes rise out of
the ground akin to those
card houses you erected
as a kid. Demand from oc-
cupants has been robust
as every new development
in Orange County has
been consumed — many
before the completion of
construction.
So with these reali-
ties as a backdrop — in-
vestor interest, simplic-
ity, demand — why don’t
we see more new develop-
ment? The short answer?
It’s risky!
For a longer review,
I posed the question to
Gary Edwards and Jeremy
Mape of Western Realco.
What follows is their take
on why. By way of back-
ground, Western Realco
has developed over 3 mil-
lion square feet of indus-
trial buildings since 2010.
Most notably, the com-
pany developed the former
Beckman site in Fuller-
ton, Neville Chemical site
in Anaheim, vacant land
formerly owned by Harte
Hanks, Suzuki in Brea
and a couple of shuttered
data centers. Let’s just say
they’ve been active!
Site scarcity
For new development
to occur, a vacant site is
needed. Vacant land sites
in our county are rarer
than a blood moon, so de-
velopers are forced to re-
purpose obsolete manu-
facturing plants, such as
the ITT site in Santa Ana
or the former Boeing cam-
pus in Anaheim.
Because the operations
housed on the parcels be-
gan in an earlier regula-
tory era, simply demolish-
ing the old structures can
HOA HOMEFRONT
Why don’t we see more new industrial development? The short answer? It’s risky!
be complex. Environmen-
tal concerns such as as-
bestos, methane gas, un-
derground fuel storage or
worse can be encountered.
Someone must pay to
clean up the mess before
new buildings appear.
Fewer and fewer of
these industrial opportu-
nities exist. Plus the re-
maining ones are costlier,
partially because many
developers have opted to
scrap aging plants in favor
of multifamily projects.
Processing time
The old adage “time is
money” certainly applies
here.
Frequently, cities have a
different vision for a proj-
ect than the builder. Time
is required to sync the ex-
pectations. “Short-staffed”
typically describes the city
workforce tasked with re-
viewing conceptual draw-
ings, offering commen-
tary, making changes, pre-
paring staff reports and
approving the develop-
ment. Occasionally, resi-
dents will weigh in with
their concerns about in-
creased truck traffic, noise
and disruption.
These issues must be
carefully anticipated,
massaged and resolved
without breaking the
bank. Generally, a land-
owner will want his
money before a final plan
is approved and permits
can be issued. Therefore, a
huge uncertainty is borne
by the builder. If some-
thing unexpected arises,
he’s stuck.
Rising building costs
Site scarcity described
above means you pay
more. Materials including
concrete, steel, drywall,
roofing paper and paint
all have seen a bump in
price, especially if the
products are petroleum-
based.
Contractors also are
busy. They can charge
more for their contribu-
tion. The modern indus-
trial occupant demands
more goodies be con-
tained in the new con-
struction. That extra 4-8
feet of building height re-
quires more concrete and
engineering calculations.
A beefed-up warehouse
fire system needs bigger
pipes and stronger water
pressure. Concrete vs. as-
phalt parking lots? Yep.
Costlier.
Rents haven’t kept
pace
Site, processing and
construction, the three
pillars of a project’s ex-
penses, create a cost
model from which a re-
turn is derived. The re-
turn is formed by the
rents a resident pays for
the facility.
In the 1980s, for in-
stance, a 10 percent re-
turn on costs after a pre-
ferred return was paid
was the norm. Nowadays
the expected return is
around 5-5.5 percent!
You may be thinking,
where do I get a 5.5 per-
cent return? That sounds
great!
Just remember: A lot of
risk is associated with the
return. One surprise and
boom! Bye-bye return. Net
effect? Rents have now
eclipsed $1 per square foot
— vs. 55 cents per square
foot nine years ago. How-
ever, they’ve not kept up
with the increased costs
despite a lower return ex-
pectation.
Allen C. Buchanan is
a principal with Lee &
Associates Commercial
Real Estate Services in
Orange. He can be reached
at abuchanan@lee-
associates.com or 714-564-
7104.
Getting
a home
prepared
takes
smarts
I’m so dang proud of my
sellers for installing smart
lights in all of their bed-
rooms and living areas!
One
seller actu-
ally showed
me how she
can control
each of the
lights on the
app on her Leslie
phone, an- Sargent
ticipating Eskildsen
that once all Columnist
of the stag-
ing is done, the profes-
sional photos are in and
her house hits the inter-
net, she’ll have throngs of
agents texting her to set
up showings.
She’s all set to have the
lights turned on for them,
right when they are sched-
uled to get there — from
the comfort of her office,
lunch venue, jogging trail
or department store dress-
ing room — never having
to remember to leave the
lights on before leaving for
work. Nor will she have to
ask the showing agent to
turn the lights off when he
leaves. She’s totally in con-
trol. What a sense of calm-
ness.
I got there early to help
them set up for the house
pics, bringing some last-
minute staging items, in-
cluding wall art, pillows,
plants, three color-coordi-
nated scarves and a me-
dium-sized robin’s-egg
blue Tiffany merchandise
bag. More about the Tif-
fany bag later ...
With each of the rooms
in the house almost ready,
I took control and let the
seller know that with pho-
tos starting in minutes, we
needed to get at least two
rooms completely ready
for the photographer.
There is a dramatic differ-
ence between almost and
completely in this case. We
picked the guest room and
went to work. Next, the
dining room. Then enter
the photographer.

Great directors understand their role (Part 3)
All the knowledge and expe-
rience from the working world
(“day job”) actually can hinder
a volunteer’s effectiveness in the
world of HOA gov-
ernance if the dif-
ferences between
the two worlds are
not understood.
Outstanding
directors have
Kelly G. learned that much
Richardson of what worked for
Columnist them in their day
job likely won’t
work in the context
of board governance. The chain
of command is totally different in
a community association.
In the workplace, there is usu-
ally a person who is the “big
boss,” someone who is your im-
mediate supervisor and someone
whom you supervise. In the as-
sociation, no single person is in
charge. Decisions are made by
the board, so the chain of com-
mand is horizontal, not hierar-
chical.
The president in a common-in-
terest development is not the “big
boss.” The president has far less
power in most nonprofit corpo-
rations since all important deci-
sions are made by the board, and
so the president’s vote is no more
important than any other.
In this very different para-
digm, the individual director typ-
ically has no personal power.
Once directors embrace the
framework of the board as de-
cision-maker, they understand
they can’t make individual prom-
ises. This restraint can be very
freeing since no individual is re-
sponsible for the association and
its actions, as all decisions are
made by board vote.
So when confronted at the pool
or parking garage by homeown-
ers demanding action, the direc-
tor can truly say he can’t individ-
ually do anything and suggest
the homeowner bring his concern
to management or to a board
meeting.
Directors failing to adapt to
the group decision-making pro-
cess often will stray outside of
corporate authority and are
Outstanding directors have learned that much of what worked for them in their day job likely will work poorly in
the context of board governance. The chain of command is completely different in a community association.
prone to unilateral actions with-
out waiting for input from their
board colleagues. Such directors
often view themselves as “action-
oriented,” but their actions with-
out board authority can be pre-
cipitous, create exposure to lia-
bility and engender conflict with
the other directors.
The “Lone Ranger” in the HOA
context is in great personal dan-
ger since such a crusader is out-
side the protections of the cor-
porate process and the business
judgment rule.
A director’s role is in the ti-
tle; a director directs. Directors
are not normally required or ex-
pected to act. The board receives
information and advice from
many possible sources, then re-
sponds to that information by di-
recting the association manager,
employees and service providers
to act.
The best directors experience
less stress, understanding they
aren’t called upon to do the work
but rather to decide who will do
it. Such directors are less likely
to micromanage the association’s
professional manager — if it has
one. Superior directors allow and
insist the manager and service
providers perform. Outstanding
directors don’t perform the work
of a failing manager or service
provider; instead, they find a new
one when things are not work-
ing out.
Healthy associations have a
healthy and orderly rotation of
leadership, so be prepared to let
someone else take a turn. Vol-
unteer HOA service shouldn’t be
a life sentence. Begin identify-
ing and preparing a replacement
on the board. Committees are a
great place to identify those who
have an interest and demonstrate
a commitment to the association
and proper attitudes of service
and governance. Don’t simply as-
sume it always has to be you!
Kelly G. Richardson is a fellow
of the College of Community
Association Lawyers and senior
partner of Richardson Ober PC,
a California law firm known
for community association
advice. Send questions to Kelly@
richardsonober.com.
Next, the seller and I
used the sneaky and non-
intrusive Velcro-style pic-
ture hangers to add some
interest to the bedroom
walls without making nail
holes that would need to
be patched later.
She had to climb up
on each of the beds after
we had affixed the sticky
strips to the back of the
relatively light picture
frames, eyeballing the pre-
ciseness of the placement,
after which she threw all
of her body weight into
sticking the picture frame
to the wall.
Of course, the careful
placement of nine pillows
on each bed had to be re-
adjusted, refluffed and
re-karate-chopped in the
wake of her picture place-
ment exercise.
When the photogra-
pher arrived, the seller
and I led him to the two
ready rooms and let him
know we were poised to
get each additional room
ready by moving all the
non-room-specific or help-
ful items out of camera
angle.
We quickly moved ev-
erything off the kitchen
counters onto the dining
room table, then moved
the family room odds and
ends into the kitchen and
temporarily out of sight,
and cleared off the balcony
as well.
When he asked if I
wanted a shot from the en-
try looking down the hall,
I said, “Yes, both horizon-
tal and vertical, please.”
He asked, “Do you want
to take down that blue
shopping bag on the en-
try hook before I take the
shot?”
The seller and I both
looked at each other and
said, “No. That’s part of
the staging!”
Leslie Sargent Eskildsen is
an agent with Realty One
Group. She can be reached
at 949-678-3373 or leslie@
leslieeskildsen.com.
 SUNDAY, FEBRUARY 3, 2019

Join us for our Love

The Ranch event
When home really is where the heart is.
Sunday, February 10, from 11am–3pm
at The Hilltop Club.

We’re spreading the love here on The Ranch. The kind that brings families together, turns a weekend into a memory, and a house into From the low $500’s - mid $1M
a home. On Sunday, February 10th, bring your loved ones to the village of Esencia for a day of music, food truck favorites, and Valentine’s Day From 707 – 4,420 sq. ft.

crafts at our Love The Ranch event. Then grab a heart-themed latte and walk hand-in-hand with the little ones through over 15 model homes. Neighborhood Builders now selling
THE ORANGE COUNTY REGISTER » OCREGISTER.COM

Each stop is a chance to pick up a new Valentine’s treat and learn what real neighbors love about life at Rancho Mission Viejo. CalAtlantic — A Lennar Company The New Home Company
Del Webb Shea Homes
RanchoMissionViejo.com 949.768.1882 65 Esencia Drive, Rancho Mission Viejo, CA 92675 RSVP today: LoveTheRanch.EventBrite.com Lennar TRI Pointe Homes
MBK Homes Warmington Residential
| REAL ESTATE

Meritage Homes William Lyon Homes

Y

© 2019 RMV PA2 Development, LLC. All rights reserved. The information, plans and land uses shown may change without notice or obligation. No information contained herein shall be deemed to constitute a representation or warranty of any kind. Imagery used does not depict racial preference.
|5
 6 | Y
REAL ESTATE | THE ORANGE COUNTY REGISTER » OCREGISTER.COM SUNDAY, FEBRUARY 3, 2019

HOT HOMES

Top 10: See the most expensive

Orange County home sales of 2018
By Marilyn Kalfus
and spa.
mkalfus@scng.com
LISTED FOR » $37.5 million in June 2017
@mkalfus on Twitter SOLD BY » Rob Giem of Compass was
the listing agent; Rod Daley of Coldwell
Four Orange County homes sold Banker represented the buyer.
for over $30 million a piece last year.
Construction boomlets were going
strong in some high-end spots, and
speculative builders cashed in on
luxury flips.
But as interest rates inched up, sup-
ply swelled and political and global
forces came into play, sales dropped.
“The market is in transition,” said 9 Del Mar, Newport Coast
Steve High, president of Villa Real Es-

4
tate. The company was involved in the
9 Del Mar,
two most expensive sales of the year. Newport Coast
High counted over 125 homes built in $30.5 million
COURTESY PHOTOS
Newport Beach and Laguna Beach in SIZE » 15,000 square feet, 6 bedrooms, 8
Irvine Cove bathrooms

2017 and 2018, with an average sales
price of $4.436 million.
But overall, sales sank in Newport
Beach by 12 percent last year and in
Laguna Beach, by 7 percent, he said.
The longtime OC real estate ex-
ecutive and agent sees the new tax
law beginning to have an impact on
the luxury market, with lower caps
on mortgage interest and other tax
deductions. It’s also harder for pro-
spective SoCal buyers from China to
get their money out of that country, he
said. And he wonders if the whirl of
building and remodeling could lead to
a glut of luxury homes for sale in 2019.
More high-end sales closed in
Orange County than ever in 2018 —
3,945, up from 3,897 in 2017, accord-
ing to Steve Thomas’ Reports on
Housing, a biweekly analysis of the
1
Irvine Cove,
Laguna Beach
$35.82 million
SIZE » 5,500 square feet, 4 bedrooms, 5
bathrooms
HOME » The oceanfront house was pur-
chased by billionaire Bill Gross, co-founder
of Pimco, on June 21, property records
show. Its previous owners included Bruce
Del Mar, the co-developer of the Holter
Monitor, a widely used portable device for
monitoring heart activity. The home has a
private path to the sand. Interiors include
a great room with vaulted beam ceilings,
fireplace and a bar, a formal dining area,
a family room and a remodeled kitchen.
LISTED FOR » $34.999 million
SOLD BY » Evan Corkett and Steve High of
Villa Real Estate were the listing agents;
Rod Daley of Coldwell Banker Residential
Brokerage represented the buyer.
ground level accessible by elevator. Other
amenities include a billiards room, a full
gym and massage room and two offices.
A swimming pool faces the Pacific Ocean,
and the guesthouse was inspired by Philip
Johnson’s Glass House, a noted modernist
residence built in Connecticut in 1949. The
six-car garage uses a hydraulic lift.
LISTED FOR » $65,000 in March 2013, with
several price cuts after that. The most re-
cent asking price in the MLS was $38.9
million, entered the day the house sold.
SOLD BY » Rod Daley of Coldwell Banker
was the listing agent; Evan Corkett of Villa
Real Estate represented the buyer.
South Coast Highway, Laguna Beach
HOME » This house shattered a sales price
record in Newport Coast’s Crystal Cove.
The house includes a 3D home theater, two-
story great room with a saltwater aquar-
ium and a golf simulation room. It was mar-
keted as the only house in the guard-gated
community having an interior auto court
outfitted with a turntable for cars. The cav-
ernous, subterranean garage parks eight
vehicles. An expansive gourmet kitchen,
formal living and dining rooms, billiards
room and a home office covered in mahog-
any are interior highlights. The three-story
house, built in 2010, also has an elevator.
Outside, an infinity swimming pool, pa-
vilion, fire bowls and heaters fill out the
grounds. The lot, about 3/4 of an acre, in-
cludes upper and lower lawns, a waterfall
and a putting green.
LISTED FOR » $35 million in January 2017
SOLD BY » Rex McKown and Marcy Wein-
stein of Surterre Properties were the list-
ing agents; Rob Smith of Surterre repre-
sented the buyer.

3
local market.
But sales slowed dramatically in the South Coast Highway,
second half of the year, Thomas said, Laguna Beach
$32 million 26 Harbor Island, Newport Beach
beginning in the spring. By mid-Oc- 2585 Riviera Drive, Laguna Beach SIZE » 10,000 square feet, 4 bedrooms, 7

5
tober, he said, supply peaked at 2,163 bathrooms
26 Harbor Island,

homes — 19 percent more than in 2017.
“There simply were not enough buyers
actively looking to buy,” he said. “On
the other hand, there were plenty of
sellers competing with each other.”
Here were the 10 priciest Orange
County homes sold in 2018, according
to research by Property Shark, and
from the California Regional Multiple
Listing Service and property records.
(Note: Private sales occasionally may
be unavailable. Some listing infor-
mation and price histories may be
partial.)
2
2585 Riviera Drive,
Laguna Beach
$32.7 million
SIZE » 9,670 square feet, 4 bedrooms, 8
bathrooms
HOME » The estate, with 17,000 square feet
of living space, is among the five homes di-
rectly above the sand in the guard-gated
community. Completed in 2010, the main
house has towering glass doors and a foyer
with terrazzo floors inspired by those at
the Getty Villa in Malibu. There are four
bedrooms, a wine cellar and tasting room
and fireplaces imported from Europe. A
commercial-caliber kitchen boasts expan-
sive Italian Carrara marble countertops,
a Bonnet range suite and banquet dining,
plus catering and chef’s quarters. The mas-
ter suite women’s closet has an under-
HOME » Bill Gross picked up this place
about a month after his purchase in Ir-
vine Cove (see above). The contemporary,
10,000-square-foot home was built in 2017,
following a two-year expansion and re-
construction on the roughly 1-acre site.
The residence has 190 feet of ocean front-
age, along with a private-access cove and
beach. A private, double-gated entry drive,
eight-person, commercial-grade elevator
and wine display room are among the new
features. At nearly 3,000 square feet, the
master suite takes up a whole floor, with its
own gym, office, spa and ocean-view ter-
races. The family room opens to a terrace
with an outdoor dining area just above the
cove. The main kitchen was outfitted by
high-end designer Bulthaup. There’s also
a fully equipped caterer’s kitchen. A roll-
ing lawn and seaside gardens grace the
grounds, along with a swimming pool
Newport Beach
$25 million
SIZE » 8,428 square feet, 5 bedrooms, 7
bathrooms
HOME » A private dock that can accom-
modate up to a 120-foot yacht sits behind
this two-story house on a quarter acre in
gated Harbor Island. A large chef’s kitchen
with two islands and a breakfast area of-
fers water views, as do most rooms. Two of-
fice suites and a sauna are among the fea-
tures. A patio with an outdoor fireplace
leads to a broad lawn and additional, dock-
side seating.
LISTED FOR » $27.5 million in March 2018
SOLD BY » Robert Taylor of Surterre Prop-
erties was the listing agent; Katie Ma-
choskie of Compass represented the buyer.
HOMES » PAGE 7

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SUNDAY, FEBRUARY 3, 2019 THE ORANGE COUNTY REGISTER » OCREGISTER.COM | REAL ESTATE Y
| 7

Homes

6
FROM PAGE 6

39 Strand Beach Drive,

Dana Point
$23.5 million
SIZE » 9,300 square feet, 6 bedrooms, 8
bathrooms
HOME » The contemporary, three-level,
oceanfront house was built in The Strand
at Headlands in 2017. The two-story en-
try hall features hand-set limestone walls
and bronze, floor-to-ceiling windows. For-
mal living and dining rooms, a bar, media
room and wine cellar are among the in-
teriors. The new kitchen includes a con-
vection oven, breakfast counter and walk-
in pantry. At the beach level, rooms open
seamlessly to outdoor living spaces with
covered terraces and a private, heated in-
finity pool set above the sand. The master
suite takes up a full floor.
LISTED FOR » $27.9 million in November
2017
SOLD BY » Rob Giem of Compass was the
listing agent; Jennifer Wetzel of Beach Cit-
ies Real Estate represented the buyer.

7
SIZE »
156 Emerald Bay,
Laguna Beach
$23 million
3,920 square feet, 5 bedrooms, 5
39 Strand Beach Drive, Dana Point

eled walls. An elevator and theater are in-

COURTESY PHOTOS

bathrooms cluded in the mix. A swimming pool and

HOME » The house was built in 1932, when
the owner could have chosen virtually any
spot along the bluffs, and had been held
in the same family for many decades. The
parcel more recently was merged with part
of another, creating the single largest one
on the oceanfront in Emerald Bay, accord-
ing to the listing. The home has a private
beach area, plus its own cabana on the
spa, cabana and outdoor kitchen also give
the home a resort vibe.
LISTED FOR » $22.99 million in December
2017
SOLD BY » Dean Lueck of First Team Es-
tates/Christie’s International Real Es-
tate and David Bezeau of Home Bay were
the listing agents; Jeff Ewing of Coldwell
Banker represented the buyer.

9
sand. The colonial-style home could serve
as a beach getaway, the listing said, or a 10 Coral Ridge,
buyer might want to build a home of 13,000 Newport Coast
square feet or larger, with an oceanfront $19.8 million
swimming pool.
LISTED FOR » $28 million in February 2017 SIZE » 13,230 square feet, 6 bedrooms, 9
to $25.9 million in November 2017. bathrooms
SOLD BY » Rob Giem of Compass handled HOME » The three-story house, built in
both sides of the deal. 2016, includes formal living and dining

8
rooms with limestone fireplaces and cof-
12 Coral Ridge, fered ceilings. A gourmet kitchen has two
12 Coral Ridge, Newport Coast
Newport Coast

$21 million
SIZE » 11,400 square feet; 6 bedrooms, 8
bathrooms
HOME » The newly built, ocean-view, Tus-
can estate is located at the highest point
behind two sets of gates in Crystal Cove.
Indoor-outdoor spaces create 17,000 square
feet of living areas. The home boasts a 35-
foot ceiling, indoor balconies, clerestory
windows and 300-year-old reclaimed roof
tiles from a castle in Italy, according to
the listing. Doors and windows of Peruvian
Mahogany blend with French Oak hard-
wood floors by Gaetano and hand-trow-
islands, professional-grade appliances and
bar seating. Amenities include a wood-pan-
eled office and an entertainment center
with a full bar, wine cellar, home theater,
billiards room and gym. Large, remote-
controlled pocket doors lead to an ocean-
view loggia. The home has a swimming
pool and spa, fire pit and outdoor barbe-
cue, and a six-car, subterranean garage.
LISTED FOR » $23 million in September
2017, dropping to $22.8 million in May 2018
SOLD BY » John Cain of Sotheby’s Interna-
tional Realty and Rex McKown and Marcy
Weinstein of Surterre Properties were the
listing agents; Paul Daftarian of Luxe Real
Estate represented the buyer.
10
9 Strand Beach,
Dana Point
$19.625 million
SIZE » 8,823 square feet, 6 bedrooms, 8
bathrooms
HOME » The oceanfront, Mediterranean es-
tate with direct beach access is located in
The Strand at Headlands community. Inte-
riors on three levels include an elevator, de-
signer kitchen, library, theater, wet bar and
wine wall. In the master suite are a fire-
place and balcony overlooking the Pacific
Ocean. Indoor/outdoor loggias lead to an
infinity-edge swimming pool with a spa,
beach shower and built-in barbecue. The
property includes a six-car garage. In De-
cember 2016, the home sold as a builder’s
shell for $10 million at an auction before
it was completed and resold in June 2018
for nearly twice that amount.
LISTED FOR » $22.888 million in August
2017
SOLD BY » John McMonigle and Deborah
Robinson of McMonigle Group Corp. were
the listing agents; Danielle Wilson of Pa-
cific Sotheby’s International Realty repre-
sented the buyer.
 8 | Y
REALESTATE | THE ORANGE COUNTY REGISTER » OCREGISTER.COM SUNDAY, FEBRUARY 3, 2019

QUICK TAKE IRVINE

At$769,880,thisIrvinecondoispeggedforafastsale $800,000-plus
By Marilyn Kalfus
mkalfus@scng.com
@mkalfus on Twitter
Despite sales dropping
in Orange County, some
homes are expected to fly
off the market.
We’re watching predic-
tions by online brokerage
Redfin, which uses an al-
gorithm factoring in price,
neighborhood and other
variables to gauge if a home
will snag a contract fast.
Redfin has pegged the
condo at 59 Sorenson in Ir-
vine for a quick sale. How
fast will it go? We’ll see.
At 1,437 square feet with
two bedrooms, the de-
tached condo’s owner is
seeking $769,880. Built in
2000, it has a loft that can
be converted into a third
bedroom, the agent says.
The kitchen was remod-
eled with quartz counter-
tops and stainless steel ap-
New Roofs Roof RepaiRs exteRioR paiNtiNg wood RepaiR
walking distance of My-
ford Elementary School in
the Tustin Unified School
District.
The estimated mort-
gage payment, with just
10 percent down, would
be $4,992 monthly, with
property taxes, HOA dues
and insurance. HOA dues
are $197 a month. (At 20
percent down, the buyer
would pay roughly $4,200
monthly.)
Orange County home
sales dropped 26 percent
year over year in Decem-
ber, but only 3.5 percent
in this condo’s ZIP, 92602,
Corelogic data show. Homes
REALTY ONE GROUP in the city have a median
The two-bedroom condo at 59Sorenson in Irvine has been asking price of $1.4 mil-
flagged by a real estate website’s algorithm as a home lion and a market time of
expected to sell quickly. six months, according to
Reports on Housing, a bi-
pliances. There’s also a pan- pane windows and plan- weekly analysis.
try. tation shutters are found Kathleen Reily-Dixon of
Floors and a heater are throughout. Realty One Group listed the
described as “newer.” Dual- The condo is within condo Jan. 21.
Let’s see how it does and
how it fits into buying and
selling now.
condos on market
By Jonathan Lansner
jlansner@scng.com
@jonlan on Twitter
Irvine’s business district
is getting 39 more town-
homes.
Intracorp has begun
selling Lux, an urban-
style complex designed by
KTGY Architecture + Plan-
ning, in the Irvine Busi-
ness Complex at 17821 Gil-
lette Ave.
The neighborhood, just
four blocks from John
Wayne Airport, “offers the
opportunity to reside min-
utes away from the area’s
top corporate offices, cen-
ters for research and learn-
ing, world-class entertain-
ment venues, shopping and
dining,” said Intracorp’s
Rick Puffer.
The townhomes, built
on the site of a 2-acre ware-
house facility, run 1,587-
2,077 square feet with
up to four bedrooms and
four bathrooms. All homes
have an attached two-car
garage ... and, yes, they’re
within the Irvine Unified
School District boundary.
Prices begin in the mid-
$800,000s.
KTGY’s Bryan Sev y
noted this neighborhood
is heavy with rental prop-
erties, “so it is exciting to
give people homeowner-
ship opportunities, where
there are professional jobs,
shopping, dining and en-
tertainment all within
walking distance.”
Homebuying in the Ir-
vine-Tustin market has
been cool of late. Sales of
existing and new homes
dropped 13 percent from
August through Novem-
ber vs. the same period in
2017 amid a steep county-
wide slowdown.
And local builders have
faced stiff challenges, in-
cluding cutting prices to
move the highest inven-
tory of unsold, finished
homes in years.

Fr Estimates
Free NEW HOMES

10% Senior $600,000 homes come to

Family Owned & Operated Discounts market near Disneyland
In Business Since 1976 | Licensed & Insured
By Jonathan Lansner
Angie's List jlansner@scng.com
@jonlan on Twitter
Super Service Award
Winners 3 Years In A Row House hunters in Ana-
heim have 39 more homes
from which to choose.
KB Home has begun sell-
$500 rooF tunE up ing Euclid Place, 39 detached,
single-family homes not very
anD inSpEction far from Disneyland. The
project borders both West
(restrictions apply) Broadway and South Euclid.
The homes come in two-
and three-story models,
sized from 1,400 to 1,900
square feet, with three bed-
rooms, 21/2 baths and two-
car garages.
Pricing starts in the low
$600,000s.
“Attractively priced and
in a desirable and com-
muter-friendly location,”
said Steve Ruffner, general
manager for KB Home’s
Southern California region.
Homebuying in the Ana-
heim area has been cool of
late. Sales of existing and
new homes in Anaheim, Or-
ange and Villa Park dropped
8 percent from August
through November vs. the
same period in 2017 amid a
steep countywide slowdown.
And local builders have
faced stiff challenges, in-
cluding cutting prices to
move the highest inventory
of unsold, finished homes
in years.

949.234.8984
Nobody Beats Our Coverage.

License #316265

OPEN
SUNDAY
ALISO VIEJO 10:00-2:00PM
22681 Oakgrove $340,000
MLS# OC19000632 1 BD, 1 BA
ALISO VIEJO 12:00-2:00PM
23412 Pacific Park Drive $419,900
MLS# OC19012434 2 BD, 2 BA
ALISO VIEJO 1:00-4:00PM
38 Vista Del Valle $679,000
MLS# PW19010961 3 BD, 3 BA
ALISO VIEJO 1:00-4:00PM
34 Lyon Ridge $999,999
MLS# OC19015922 5 BD, 3 BA
ANAHEIM 1:00-4:00PM
2148 W Churchill Circle $450,000
MLS# PW19018681 4 BD, 3 BA
ANAHEIM 1:00-4:00PM
1015 N Alamo Street $519,900
MLS# PW19021106 3 BD, 1 BA
ANAHEIM 12:00-3:00PM
1640 S Heritage Circle $539,900
MLS# PW19013479 3 BD, 3 BA
BoB Zurn, DrE #0674668,
tarBELL rEaLtorS 714-402-8904
ANAHEIM 1:00-4:00PM
10915 Gilbert Street $559,000
MLS# PW19015033 4 BD, 2 BA
ANAHEIM 1:00-3:00PM
210 W Ball Road $569,999
MLS# PW19016573 4 BD, 2 BA
ANAHEIM 12:00-4:00PM
704 N Bush Street $575,000
MLS# PW18288751 3 BD, 2 BA
ANAHEIM HILLS 1:00-5:00PM
5021 E Chalice Lane $899,999
MLS# TR18193062 3 BD, 3 BA
ANAHEIM HILLS 12:00-3:00PM
140 N Rose Blossom Lane $1,015,000
MLS# PW19015611 4 BD, 3 BA
BREA 11:00-1:00PM
1863 Lotus Place $600,000
MLS# PW19020405 4 BD, 2 BA
BREA 1:00-4:00PM
1425 Alta Mesa Way S $830,000
MLS# PW19006346 4 BD, 3 BA
BREA 12:00-4:00PM
3453 Villa Drive E $945,000
MLS# TR18284339 4 BD, 3 BA
BUENA PARK 10:00-1:00PM
7023 Santa Marta Circle $650,000
MLS# OC19020974 4 BD, 3 BA
BUENA PARK 11:00-4:00PM
5876 Spring Street $663,500
MLS# OC19012858 4 BD, 4 BA
BUENA PARK 11:00-4:00PM
5831 Rostrata Street $698,500
MLS# OC19012861 4 BD, 4 BA
CORONA DEL MAR 11:00-1:00PM
513 Poppy Avenue $1,875,000
MLS# NP18288841 3 BD, 3 BA
COSTA MESA 11:00-1:00PM
201 Hanover Drive $985,000
MLS# PW19005564 3 BD, 2 BA
COSTA MESA 12:00-3:00PM
325 Costa Mesa Street $1,539,000
MLS# NP19022221 3 BD, 2 BA
COSTA MESA 1:00-4:00PM
313 Broadway $1,749,000
MLS# NP19021425 4 BD, 4 BA
COTO DE CAZA 1:00-3:00PM
31722 Via Patito $800,000
MLS# PW18258036 5 BD, 4 BA
DANA POINT 12:00-2:00PM
24712 Jeremiah Drive $1,030,000
MLS# OC18271805 4 BD, 3 BA
DANA POINT 12:00-4:00PM
33204 BLUE FIN Drive $1,125,000
MLS# OC18272091 3 BD, 2 BA
DANA POINT 1:00-3:00PM
33471 Sea Bright Drive $1,159,000
MLS# NP18284188 4 BD, 3 BA
DANA POINT 11:00-4:00PM
33985 Cape Cove $1,360,000
MLS# LG19012768 3 BD, 3 BA
KatHY SaMuEL, DrE #00832012,
FirSt tEaM rEaL EStatE 949-444-1674
DANA POINT 1:00-4:00PM
35455 Camino Capistrano $3,595,000
MLS# LG18203898 5 BD, 4 BA
FOUNTAIN VALLEY 1:00-4:00PM
18096 Muir Woods Court $625,000
MLS# NP19018779 3 BD, 3 BA
FOUNTAIN VALLEY 10:00-1:00PM
16626 Silktree Street $969,900
MLS# OC19022818 5 BD, 3 BA
FULLERTON 11:00-3:00PM
321 N. Orchard Avenue $599,000
MLS# PW18231432 3 BD, 2 BA
tiM FuZZarD, DrE #02013106,
FirSt tEaM rEaL EStatE 714-225-2331
FULLERTON 11:00-3:00PM
1417 W. Amerige Avenue $634,900
MLS# PW19015176 3 BD, 2 BA
tiM FuZZarD, DrE #02013106,
FirSt tEaM rEaL EStatE 714-225-2331
FULLERTON 1:00-4:00PM
319 Virginia Road $885,000
MLS# SR19003771 2 BD, 2 BA
FULLERTON 12:00-4:00PM
761 Arbolado Drive $1,139,999
MLS# PW18241872 5 BD, 4 BA
FULLERTON 1:00-4:00PM
855 Rancho Circle $1,400,000
MLS# PW19011272 4 BD, 3 BA
GARDEN GROVE 12:00-3:00PM
13181 Lampson Avenue $91,000
MLS# PW19019175 3 BD, 2 BA
GARDEN GROVE 1:00-4:00PM
13372 Kelly Street $650,000
MLS# PW19013397 3 BD, 2 BA
GARDEN GROVE 11:00-2:00PM
9381 Souza Avenue $785,000
MLS# OC18230359 4 BD, 3 BA
GARDEN GROVE 12:00-2:00PM
12373 Brad Lane $1,470,000
MLS# PW18262569 5 BD, 5 BA
HUNTINGTON BEACH 1:00-5:00PM
19749 Claremont Lane $419,900
MLS# PW19013993 2 BD, 2 BA
HUNTINGTON BEACH 1:00-4:00PM
9815 Villa Pacific Drive $624,800
MLS# OC19015230 3 BD, 2 BA
HUNTINGTON BEACH 1:00-4:00PM
7872 Seawall Circle Unit 171 $825,000
MLS# OC18288326 2 BD, 3 BA
cYnDi Mino, DrE #01453215,
FirSt tEaM rEaL EStatE 714-349-2424
HOUSES
HUNTINGTON BEACH 1:00-4:00PM
7021 HEIL Avenue $889,000
MLS# OC19002233 4 BD, 3 BA
HUNTINGTON BEACH 1:00-4:00PM
7425 Marisa Drive $1,995,000
MLS# PW19009690 6 BD, 5 BA
IRVINE 1:00-4:00PM
460 Orange Blossom $299,900
MLS# PW18256548 1 BD, 1 BA
IRVINE 12:00-3:00PM
204 Alicante Aisle $410,000
MLS# OC19019073 1 BD, 1 BA
IRVINE 1:00-4:00PM
27 Firwood $475,000
MLS# OC19013171 2 BD, 2 BA
IRVINE 1:00-4:00PM
99 Plateau $579,000
MLS# PW19016954 2 BD, 3 BA
IRVINE 1:00-5:00PM
7 Ericson Aisle $669,000
MLS# OC19001336 3 BD, 2 BA
IRVINE 1:00-4:00PM
71 Oxford $684,800
MLS# OC19007249 2 BD, 3 BA
IRVINE 1:30-4:00PM
94 Keepsake $719,000
MLS# OC18298183 3 BD, 3 BA
IRVINE 1:00-4:00PM
8 Mozzoni Aisle $725,000
MLS# OC18294552 3 BD, 3 BA
IRVINE 1:00-4:00PM
75 Spring Valley $738,800
MLS# OC18209208 3 BD, 3 BA
IRVINE 12:00-3:00PM
31 Carnation $815,000
MLS# OC19021613 3 BD, 3 BA
IRVINE 1:30-4:00PM
120 Newall $819,000
MLS# OC19005970 3 BD, 3 BA
IRVINE 10:00-2:00PM
65 Bay Laurel $826,999
MLS# OC19006935 3 BD, 3 BA
IRVINE 1:00-4:00PM
47 Keepsake $878,000
MLS# CV19000978 4 BD, 3 BA
IRVINE 1:00-4:00PM
54 Rising Sun $980,000
MLS# OC18241307 3 BD, 3 BA
JEnnY iKEDa, DrE #01337143,
FirSt tEaM rEaL EStatE 949-568-8168
IRVINE 1:00-4:00PM
37 Wakefield $980,000
MLS# OC19021565 4 BD, 3 BA
IRVINE 11:00-3:00PM
11 Cornwallis $1,095,000
MLS# OC19020316 4 BD, 4 BA
IRVINE 1:00-4:00PM
54 Cattleman $1,098,000
MLS# PW19002234 4 BD, 3 BA
IRVINE 1:00-4:00PM
50 Cherry Tree $1,149,888
MLS# OC19009661 3 BD, 3 BA
IRVINE 2:00-5:00PM
727 Beacon $1,198,800
MLS# OC18235377 3 BD, 3 BA
IRVINE 11:00-2:00PM
3 Whitford $1,295,000
MLS# OC19012256 3 BD, 2 BA
IRVINE 1:00-4:00PM
154 Palencia $1,358,000
MLS# PW19020051 3 BD, 4 BA
IRVINE 1:00-4:00PM
111 Mountain Violet $1,388,000
MLS# OC19008746 4 BD, 3 BA
IRVINE 11:00-2:00PM
204 Bridlewood $1,488,000
MLS# OC18292121 4 BD, 3 BA
IRVINE 1:00-4:00PM
71 Hearst $1,598,800
MLS# IG19004805 4 BD, 5 BA
IRVINE 1:00-4:00PM
104 Slate Grey $1,888,000
MLS# OC19015709 4 BD, 5 BA
IRVINE 1:00-4:00PM
9 Sunset Cove $1,938,000
MLS# PW19019861 4 BD, 5 BA
IRVINE 3:30-5:30PM
58 Heirloom $2,280,000
MLS# OC18292843 5 BD, 5 BA
IRVINE 1:00-4:00PM
139 Sunset $2,280,000
MLS# PW19008623 4 BD, 5 BA
IRVINE 1:30-4:00PM
77 Sunset Cove $2,598,888
MLS# OC19021070 4 BD, 5 BA
IRVINE 1:00-4:00PM
8 GALILEO $3,290,000
MLS# OC18285570 5 BD, 3 BA
IRVINE 1:00-4:00PM
126 Scenic Crest $4,700,000
MLS# PW18286962 5 BD, 6 BA
LA HABRA 1:00-4:00PM
670 N Galen Drive $599,000
MLS# OC19020612 3 BD, 3 BA
LA HABRA 12:00-3:00PM
310 N Cypress Street $699,900
MLS# PW18297646 3 BD, 1 BA
VirGinia oLiVaS, DrE #01327579,
tarBELL rEaLtorS 714-743-9953
LADERA RANCH 11:00-2:00PM
9 Rumford Street $589,900
MLS# OC19018065 3 BD, 3 BA
LAGUNA BEACH 12:00-3:00PM
1594 Via Capri $699,999
MLS# NP18270505 2 BD, 1 BA
LAGUNA BEACH 1:00-5:00PM
243 Calliope Street $935,000
MLS# CV18207287 2 BD, 2 BA
LAGUNA BEACH 12:00-3:00PM
1220 Roosevelt Lane $975,000
MLS# LG19000884 1 BD, 1 BA
LAGUNA BEACH 12:00-3:00PM
1490 Del Mar Avenue $1,459,000
MLS# LG18177567 3 BD, 3 BA
LAGUNA BEACH 10:00-2:00PM
355 Saint Anns Drive $1,595,000
MLS# LG18256722 2 BD, 2 BA
LAGUNA BEACH 1:00-4:00PM
757 Coast View Drive $2,749,000
MLS# LG18272095 4 BD, 4 BA
LAGUNA BEACH 11:00-3:00PM
1300 Dunning Drive $2,940,000
MLS# LG18284069 3 BD, 2 BA
BiLL roLFinG, DrE #00706260,
FirSt tEaM rEaL EStatE 949-689-4470
LAGUNA BEACH 12:00-3:00PM
647 Virginia Park Drive $2,988,000
MLS# LG18280756 3 BD, 4 BA
LAGUNA BEACH 1:00-4:00PM
31597 Table Rock Drive $9,750,000
MLS# LG18225067 5 BD, 5 BA
LAGUNA HILLS 12:00-3:00PM
27192 Lost Colt Drive $1,475,000
MLS# OC19019786 4 BD, 2 BA
LAGUNA HILLS 1:00-4:30PM
27192 Hidden Trail Road $1,950,000
MLS# OC18212461 5 BD, 6 BA
LAGUNA HILLS 1:00-4:00PM
25481 LONE PINE Circle $3,150,000
MLS# OC19022508 5 BD, 5 BA
LAGUNA NIGUEL 1:00-4:00PM
25102 Calle Playa Unit A $475,000
MLS# OC18288387 2 BD, 2 BA
SoFia DELGaDo, DrE #01401361,
FirSt tEaM rEaL EStatE 949-246-1784
LAGUNA NIGUEL 11:00-2:00PM
23715 Surf Cove $499,000
MLS# OC19021862 2 BD, 2 BA
LAGUNA NIGUEL 12:00-3:00PM
22 Stoney Pointe $745,000
MLS# OC19006925 2 BD, 3 BA
JoDi HaLBrEicH, DrE #01946224,
FirSt tEaM rEaL EStatE 949-439-5726
LAGUNA NIGUEL 10:00-5:00PM
23702 Turtle $829,900
MLS# PW19014485 3 BD, 2 BA
LAGUNA NIGUEL 12:00-4:00PM
28251 La Bajada $845,000
MLS# OC19003249 3 BD, 3 BA
LAGUNA NIGUEL 1:00-4:00PM
27532 Jaquita Place $1,435,000
MLS# OC18262102 4 BD, 4 BA
LAGUNA NIGUEL 1:00-4:00PM
12 Ebony Glade $3,495,000
MLS# OC18198435 5 BD, 6 BA
LAGUNA WOODS 2:00-4:00PM
764-N Calle Aragon $155,000
MLS# OC18264364 1 BD, 1 BA
aMir KHarraZi, DrE #01982088,
cEnturY 21 rainBoW rEaLtY 949-836-4114
LAGUNA WOODS 11:30-1:30PM
530-Q Via Estrada $225,000
MLS# OC19021410 2 BD, 2 BA
cHriS FraMan, DrE #01482033,
cEnturY 21 rainBoW rEaLtY 949-235-9249
LAGUNA WOODS 11:00-1:00PM
447-F Avenida Sevilla $239,000
MLS# OC18131269 2 BD, 1 BA
KittY pLatt, DrE #01886007,
cEnturY 21 rainBoW rEaLtY 949-306-7740
To include your property next
week, contact your
OC Register Advertising Rep or
call Dan Walker 714-796-5060

For a complete list of open houses visit socalhomes.online

SUNDAY, FEBRUARY 3, 2019
Real estate news » New Home Co. hires a new president for a new role
The New Home Co. has
a new president in the
newly created role for the
Aliso Viejo-based devel-
oper.
Leonard S. Miller, the
company’s
chief oper-
ating officer
since March
2017, will fill
a dual role
as president
and COO,
responsi-
Miller ble for man-
aging the
day-to-day operations of
the company. He’ll report
to New Home Chief Ex-
ecutive Larry Webb, who
is also chairman of the
board.
“This new position re-
flects our confidence in
Leonard’s abilities both as
a leader and operator and
will go a long way towards
helping the company
achieve its goals,” Webb
said in a statement.
Miller previously
worked at Richmond
American Homes, where
he was responsible for sev-
eral markets in the West-
ern United States.
Leases
Panattoni Development
Co. and DAUM Commer-
cial Real Estate Services
have closed a 10-year lease
valued at $8.65 million of
a 69,882-square-foot in-
dustrial building under
construction in Placentia.
The unnamed tenant is
a publicly traded commer-
cial and residential roofing
distributor.
Chris Migliori and Paul
Gingrich at DAUM repre-
sented Panattoni in this
transaction.
The development broke
ground earlier this year
and includes three other
buildings, ranging from
47,813 to 60,809 square
feet, which are available.
The property at 721 S.
Van Buren St. is expected
to be completed soon. The
additional three buildings
that make up the Orange
County Commerce Center
are located at 711 S. Van
Buren St. in Placentia and
1365 & 1367 S. Van Buren
St. in Anaheim.
THE ORANGE COUNTY REGISTER » OCREGISTER.COM | REAL ESTATE Y
|9
COURTESY OF STREAM REALTY
An office building in Anaheim Hills has been sold for
undisclosed terms, according to the brokerage, Irvine-
based Stream Realty Partners. Quantum Electronic
Payments bought the building at 8185 E. Kaiser Blvd.
Stream’s Mike Adams and Scott Bellizzi at Stream
marketed the property on behalf of the owner, and Adams
procured the buyer.
COURTESY OF DAUM COMMERCIAL REAL ESTATE
Panattoni Development Co. and DAUM Commercial Real Estate Services have closed a
10-year lease valued at $8.65 million of a 69,882-square-foot industrial building under
construction in Placentia.
Curtis Krusie and John
van Rossem of Mohr Part-
ners represented the ten-
ant in this transaction.
$24.7M lease in Brea COURTESY OF CBRE
NAI Capital’s Ontario A retail and showroom property in Newport Beach has sold
office negotiated a long- for $6.4 million. CBRE’s Anthony DeLorenzo, Gary Stache,
term lease renewal valued Doug Mack and Ross Bourne represented the seller, Shafer
at $24.7 million for Wal- Family Trust. The two single-story buildings at 2510-2530
ters Wholesale Electric Co. West Coast Highway have 4,452 square feet and are leased
in Brea. COURTESY OF NAI CAPITAL to Bayport Yachts. The property serves as the retail building
David Moore and Am- and showroom for the yacht dealership, a tenant since 2001.
ber Leigh at NAI nego-
NAI Capital’s Ontario office negotiated a long-term lease
tiated the lease for the
renewal valued at $24.7 million for Walters Wholesale
renzo, Gary Stache, Doug Coming up
Electric Co. in Brea. David Moore and Amber Leigh at NAI
246,608-square-foot build- Mack and Chris Bodnar
negotiated the lease for the 246,608-square-foot building The Orange County
ing at 200 N. Berry St. at 200 N. Berry St. represented the private Chapter of Commercial
NAI in a statement said seller. Real Estate Women has
Walters warehouses more serve as Quantum’s re- leased by a national auto The 12,547-square-foot, launched the nomination
than $20 million worth of gional headquarters. parts distributor in Or- free-standing property is program for its annual
construction material for ange has been sold to Car- at 1601 Avocado Ave. The SPIRE awards, which rec-
daily deliveries to its cus-Retail deal dinal Development Co. for buyer will operate the ognize superior perfor-
tomers. A retail and show- $4.27 million. property as its first Or- mance in real estate by
room property in New- Keith Greer of CBRE ange County facility, CBRE teams and individuals in
New headquarters port Beach has sold for represented the buyer. The said in a statement. The the Orange County mar-
in Anaheim Hills $6.4 million. seller, Autozone, was rep- new owner plans to reno- ket.
CBRE’s Anthony DeLo- resented by Bart Reinhard vate and occupy the build- Nominations are now
An office building in renzo, Gary Stache, Doug at JLL. ing. open and will be accepted
Anaheim Hills has been Mack and Ross Bourne The 23,100-square foot through Feb. 1.
sold for undisclosed terms, represented the seller, Sha- property at 975 N. Eckhoff People in real estate To nominate an individ-
according to the broker- fer Family Trust. St. is leased by Parts Au- Fawn Huang has joined ual or team, go to crewoc-
age, Irvine-based Stream The two single-story thority, an auto parts dis- the Yorba Linda office of spireawards.com.
Realty Partners. buildings at 2510-2530 tributor with 41/2 years re- Coldwell
Quantum Electronic West Coast Highway have maining on its lease. Banker Res- Submit business
Payments bought the 4,452 square feet and are idential Bro- promotions, hires, new
building at 8185 E. Kai- leased to Bayport Yachts. Medical office sale kerage as ventures and upcoming
ser Blvd. The property serves as the In other CBRE news, the an affili- events to Business Editor
Stream’s Mike Ad- retail building and show- brokerage has negotiated ate agent. Samantha Gowen at
ams and Scott Bellizzi room for the yacht dealer- the sale of a medical office Previously, sgowen@scng.com. Please
at Stream marketed the ship, a tenant since 2001. in the tony neighborhood she was the allow at least a week
property on behalf of the CBRE said its team also of Fashion Island. business for publication. High-
owner, and Adams pro- represented the buyer in The buyers and sellers Huang manager resolution photos also
cured the buyer. the transaction. declined to provide their for Chris- can be submitted for
Stream said the loca- names or terms of the tian Dior. consideration. All items
tion, a 14,899-square-foot, Sale made in Orange transaction. are subject to editing for
two-story building, would An industrial property CBRE’s Anthony DeLo- clarity and length.

OPEN
SUNDAY
LAGUNA WOODS 11:00-3:00PM
1 Via Castilla $249,500
MLS# OC18226514 2 BD, 2 BA
LAGUNA WOODS 2:00-4:00PM
74-B Calle Aragon $255,000
MLS# OC18260786 2 BD, 1 BA
KITTY PLATT, DRE #01886007,
CENTURY 21 RAINBOW REALTY 949-306-7740
LAGUNA WOODS 1:00-3:00PM
2282-D Via Mariposa W. $260,000
MLS# OC18295449 2 BD, 2 BA
PATRICE TRUAX, DRE #01450496,
CENTURY 21 RAINBOW REALTY 949-637-7625
LAGUNA WOODS 12:30-4:30PM
867 Avenida Sevilla #B $264,900
MLS# OC18225505 2 BD, 2 BA
JANICE WAGNER, DRE #01783911,
TARBELL REALTORS SC 949-338-1258
LAGUNA WOODS 1:00-3:00PM
2399-1A Via Mariposa $299,000
MLS# Not on MLS
BETH COOMBS, DRE #01360942,
CENTURY 21 RAINBOW REALTY 949-922-5993
LAGUNA WOODS 12:00-3:00PM
180-B Avenida Majorca $338,800
MLS# OC18162156 2 BD, 2 BA
ROSE MARIE MORIARTY, DRE #01281632,
CENTURY 21 RAINBOW REALTY 949-278-7948
LAGUNA WOODS 11:30-2:00PM
322-C Avenida Carmel $345,000
MLS# OC19008529 2 BD, 2 BA
ALYCE LEONHARDT, DRE #01165909,
CENTURY 21 RAINBOW REALTY 949-374-2024
LAGUNA WOODS 12:00-2:00PM
3036 Via Vista $348,900
MLS# OC18292243 2 BD, 2 BA
LAGUNA WOODS 1:00-3:00PM
2244 Via Puerta $418,900
MLS# OC19019916 2 BD, 2 BA
LAGUNA WOODS 12:00-4:00PM
2399-2B Via Mariposa West $422,000
2 BD, 2 BA
LINDA ROMEIKE
FSBO, 949-235-1275
LAGUNA WOODS 2:00-4:00PM
3031-Q Calle Sonoroa $449,000
MLS# OC19002334 2 BD, 2 BA
CHRIS FRAMAN, DRE #01482033,
CENTURY 21 RAINBOW REALTY 949-235-9249
LAKE FOREST 1:00-4:00PM
23290 Orange Avenue Unit 4 $299,000
MLS# PW18274787 2 BD, 1 BA
SRDAN NOVAKOVIC, DRE #02016921,
FIRST TEAM REAL ESTATE 714-292-6315
LAKE FOREST 11:00-2:00PM
25885 Trabuco Road $430,000
MLS# 318004970 2 BD, 2 BA
MISSION VIEJO 11:00-4:00PM
25891 Blascos Unit 110 $433,000
MLS# OC18295466 2 BD, 2 BA
MICHELLE WILSON, DRE #01870068,
FIRST TEAM REAL ESTATE 949-482-5505
MISSION VIEJO 10:00-12:00PM
23196 Denia $464,000
MLS# OC19013407 2 BD, 2 BA
MISSION VIEJO 11:00-3:00PM
167 Aliso Ridge Loop $649,900
MLS# OC18239638 3 BD, 4 BA
MISSION VIEJO 10:00-2:00PM
22713 Via Santa Rosa $689,000
MLS# OC18177318 3 BD, 2 BA
MISSION VIEJO 12:00-3:00PM
27351 Via Olmo $738,000
MLS# OC18263023 4 BD, 2 BA
MISSION VIEJO 12:00-4:00PM
25661 Via Viento $849,000
MLS# OC19008438 3 BD, 3 BA
FRED FASHAMI, DRE #01994580,
FIRST TEAM REAL ESTATE 714-244-2171
MISSION VIEJO 12:30-3:30PM
24292 Cataluna Circle $939,000
MLS# LG19017913 3 BD, 3 BA
MISSION VIEJO 12:00-4:00PM
23111 Fairfield $999,900
MLS# OC19001153 5 BD, 3 BA
MISSION VIEJO 1:00-5:00PM
26482 Dineral $1,350,000
MLS# OC18256420 5 BD, 3 BA
JANET HOWLAND, DRE #01312424,
FIRST TEAM REAL ESTATE 949-633-2807
NEWPORT BEACH 11:00-3:00PM
2745 Vista Umbrosa $1,330,000
MLS# OC18240371 3 BD, 3 BA
NEWPORT BEACH 12:00-2:00PM
2753 Vista Umbrosa $1,395,000
MLS# NP18290639 4 BD, 2 BA
NEWPORT BEACH 1:00-4:00PM
2139 Vista Entrada $1,395,000
MLS# NP18202289 3 BD, 3 BA
HOUSES
NEWPORT BEACH 12:00-3:00PM
1601 Antigua Way $3,950,000
MLS# LG19015453 5 BD, 7 BA
NEWPORT BEACH 1:00-4:00PM
4 Cherry Hills Lane $4,395,000
MLS# NP17086380 5 BD, 5 BA
NEWPORT BEACH 1:00-4:00PM
208 Via Lido Nord $5,375,000
MLS# NP18194033 4 BD, 4 BA
NEWPORT COAST 1:30-4:00PM
37 Vista Luci $5,480,000
MLS# OC18277515 5 BD, 6 BA
NEWPORT COAST 1:00-5:00PM
11 Vista Lesina $5,798,888
MLS# OC18265688 5 BD, 6 BA
NORTH TUSTIN 11:00-2:00PM
18752 Deep Well Road $1,265,000
MLS# PW19021585 6 BD, 5 BA
CASEY EIDSVOLD, DRE #02049774,
FIRST TEAM REAL ESTATE 949-929-1609
ORANGE 12:00-2:00PM
700 W La Veta Avenue $295,000
MLS# OC19015322 1 BD, 1 BA
ORANGE 1:00-4:00PM
2100 W Palmyra Avenue $423,000
MLS# PW18256980 2 BD, 2 BA
TIFFANY LY, DRE #02046032,
TARBELL, REALTORS 714-342-1798
ORANGE 12:00-4:00PM
818 N Kintyre Drive $575,000
MLS# PW19023140 3 BD, 3 BA
ORANGE 1:00-4:00PM
840 N Waverly Street $699,000
MLS# PW18267026 3 BD, 2 BA
ORANGE 1:00-4:00PM
1019 E Walnut Avenue $749,900
MLS# PW18282674 4 BD, 3 BA
ORANGE 1:00-4:00PM
238 S Cambridge Street $849,900
MLS# PW19018054 4 BD, 3 BA
ORANGE 1:00-4:00PM
1134 E Maplewood Place $860,000
MLS# LG18296079 3 BD, 2 BA
ORANGE 1:00-4:00PM
5904 E San Juan Drive $995,000
MLS# PW18270820 5 BD, 3 BA
ORANGE 1:00-4:00PM
257 N GRAND Street $1,149,900
MLS# PW18290586 3 BD, 2 BA
RANCHO MISSION VIEJO 1:00-4:00PM
46 Vasto Street $975,000
MLS# OC19015238 3 BD, 4 BA
RANCHO SANTA MARGARITA 1:00-4:00PM
37 Leonado $414,900
MLS# OC18281239 2 BD, 2 BA
RANCHO SANTA MARGARITA 12:00-3:00PM
45 Santa Loretta $419,900
MLS# OC19021292 2 BD, 2 BA
RANCHO SANTA MARGARITA 12:00-3:00PM
85 Seacountry Lane $649,900
MLS# OC18281391 4 BD, 3 BA
RANCHO SANTA MARGARITA 1:00-4:00PM
5 Via Azur $725,499
MLS# OC19018454 3 BD, 3 BA
RANCHO SANTA MARGARITA 10:00-2:00PM
9 Meadowood $1,090,000
MLS# OC19002667 4 BD, 3 BA
SAN CLEMENTE 12:00-3:00PM
2630 Via Cascadita $859,000
MLS# OC19003739 3 BD, 2 BA
SAN CLEMENTE 10:00-1:00PM
156 Avenida De La Paz $999,000
MLS# OC19019125 3 BD, 2 BA
SAN CLEMENTE 11:00-4:00PM
3 Corte Rivera $1,050,000
MLS# OC19018342 2 BD, 2 BA
SAN CLEMENTE 10:00-2:00PM
506 Via Delfin $2,225,000
MLS# OC19006169 4 BD, 4 BA
MARTUCCI ANGIANO, DRE #01145304,
FIRST TEAM REAL ESTATE 714-330-7828
SAN JUAN CAPISTRANO 1:00-3:00PM
31492 Paseo Duran $999,000
MLS# OC19011117 6 BD, 4 BA
SANTA ANA 12:00-4:00PM
2306 W. Rowland Avenue $685,000
MLS# OC19021265 4 BD, 2 BA
MARK VILLANUEVA, DRE #01957429,
FIRST TEAM REAL ESTATE 714-235-1500
SANTA ANA 1:00-4:30PM
2012 W Summer Wind $728,000
MLS# OC19020261 3 BD, 2 BA
SANTA ANA 1:00-4:00PM
2110 N Greenbrier Street $759,900
MLS# OC18199872 3 BD, 2 BA
TUSTIN 1:00-4:00PM
455 E 1st Street $427,500
MLS# PW18298111 2 BD, 2 BA
AMY LEVINSON, DRE #0868354,
TARBELL, REALTORS 714-552-5751
TUSTIN 10:00-1:00PM
18631 Warren Avenue $899,888
MLS# PW18251329 4 BD, 4 BA
SRDAN NOVAKOVIC, DRE #02016921,
FIRST TEAM REAL ESTATE 714-292-6315
TUSTIN 1:00-4:00PM
17392 Village Drive $1,000,000
MLS# OC18251839 5 BD, 3 BA
REBECKA FORRESTER, DRE #01979038,
FIRST TEAM REAL ESTATE 714-412-5157
WESTMINSTER 12:00-2:00PM
14902 Cordoba Plaza $455,000
MLS# OC19021697 2 BD, 3 BA
WESTMINSTER 12:00-3:00PM
13601 Springdale Street $695,000
MLS# OC19021144 3 BD, 2 BA
WESTMINSTER 1:00-4:00PM
13431 Willamette Drive $735,000
MLS# OC18281087 4 BD, 2 BA
YORBA LINDA 2:00-4:00PM
20680 Manzanita Avenue $899,000
MLS# OC18272486 5 BD, 3 BA
YORBA LINDA 11:00-2:00PM
16611 Loie Street $930,000
MLS# PW19020386 3 BD, 2 BA
YORBA LINDA 10:00-5:00PM
5333 Newbury Lane $1,688,880
MLS# SW18201801 5 BD, 6 BA
YORBA LINDA 10:00-5:00PM
5313 Newbury Lane $1,799,990
MLS# SW18124941 5 BD, 6 BA
YORBA LINDA 10:00-5:00PM
5282 Newbury Lane $2,037,559
MLS# SW18085864 6 BD, 7 BA
YORBA LINDA 10:00-5:00PM
5312 Newbury Lane $2,345,000
MLS# SW18025310 5 BD, 6 BA
YORBA LINDA 1:00-4:00PM
21661 Casino Ridge Road $2,388,000
MLS# OC18283677 6 BD, 6 BA
MICHAEL TAHVILDARI, DRE #02023453,
FIRST TEAM REAL ESTATE 626-512-2804

NEWPORT BEACH 1:00-4:00PM PLACENTIA 12:00-3:00PM STANTON 12:00-3:00PM

LAGUNA WOODS 1:00-4:00PM
3401 Punta Alta $615,000
MLS# OC18199929 2 BD, 2 BA
LAGUNA WOODS 1:00-4:00PM
3171 VIA VISTA $785,000
MLS# OC19014852 2 BD, 2 BA
5 Rue Deauville $2,695,000
MLS# NP19011446 4 BD, 5 BA
NEWPORT BEACH 12:00-3:00PM
433 San Bernardino Avenue $3,889,000
MLS# NP19012881 4 BD, 5 BA
824 Lilac Drive $759,000
MLS# PW19013389 4 BD, 2 BA
PLACENTIA 1:00-4:00PM
407 Augusta Lane $919,900
MLS# PW18297438 5 BD, 3 BA
10410 E Briar Oaks Drive $430,000
MLS# OC19020814 3 BD, 2 BA
STANTON 12:00-3:00PM
7781 Hopi Road $575,000
MLS# PW19013402 3 BD, 2 BA
To include your property next
week, contact your
OC Register Advertising Rep or
call Dan Walker 714-796-5060

For a complete list of open houses visit socalhomes.online

10 | Y
REAL ESTATE | THE ORANGE COUNTY REGISTER » OCREGISTER.COM SUNDAY, FEBRUARY 3, 2019

ORANGE COUNTY’S REAL ESTATE SCENE

$708,500
Dec. 2018 750
$697,000
Dec. 2017

WIN 4 TICKETS
$667,500 700
Dec. 2016
Median home price
$631,250
Dec. 2015 650

TO $582,000
Dec. 2014
INTERNATIONAL GUITAR NIGHT 600

In thousands
550

500

450
2015 2016 2017 2018

Sales volume
2,817 3,259 3,230 3,054 2,260
Dec. 2014 Dec. 2015 Dec. 2016 Dec. 2017 Dec. 2018
4.0

3.5

3.0

2.5

In thousands
2.0

1.5

1.0

0.5

0
2014 2015 2016 2017 2018

aa

Friday, February 22
8 PM INVENTORY OF HOMES FOR SALE 30-YEAR FIXED MORTGAGE RATE ARMs L.A.-OC RENT INFLATION
(Homes bought with
6,122 4.46% adjustable-rate mortgages) 5.2%

Go to ocregister.com/rewards 22.8%
AS OF JAN. 24 AVERAGE FOR WEEK ENDING JAN. 31 DECEMBER
Market time: 4.27 DECEMBER Rent in Los Angeles
(months to sell all was 3.89%, up from ARMs represented and Orange counties
OC listings at the the previous week. 34% of purchase- has increased year
current buying pace). 30-year rates averaged money loans going over year each
The $1 million-plus 8.1% since 1971. The back to 1988. month since
market equals 38.5% September 2010.
of all listings. average is 4% for the
past seven years.
Subscriber Rewards Program Sources: CoreLogic, Steve Thomas, Bureau of Labor Statistics, Freddie Mac SCNG

Anaheim Hills Yorba Linda Villa Park

5 Bedrooms | 5 Bathrooms 5 Bedrooms | 5 Bathrooms 4 Bedrooms | 3 Bathrooms
$2,280,000 $1,425,000 $1,379,000
800.387.1451 800.387.1451 800.387.1451
(627480) (627481) (627482)

Anaheim Hills Yorba Linda Anaheim Hills

4 Bedrooms | 3 Bathrooms 4 Bedrooms | 3 Bathrooms 3 Bedrooms | 2 Bathrooms
$1,225,000 $715,088 $689,900
800.387.1451 800.387.1451 800.387.1451
(627483) (627484) (627485)

VISIT WWW.FIRSTTEAM.COM TO VIEW OUR UPCOMING OPEN HOUSES AND BRAND-NEW LISTINGS. © 2019 First Team® Real Estate. All rights reserved. Lic# 01008773
 Y11
BUSINESS
Sunday, February 3, 2019 » MORE AT FACEBOOK.COM/OCREGISTER AND TWITTER.COM/OCREGISTER
» ocregister.com

FOOTBALL: LOS ANGELES VS. NEW ENGLAND

Who’s got a more ‘super’ economy?

It’s a matchup of two lent football teams, too!)
“super” economies. So who might be
Los Angeles vs. New crowned business champ
England (aka Boston) is in head-to-head compe-
indeed a clash of Ameri- tition?
can heavyweights. Their Amid Super Bowl fe-
metropolitan areas rank Jonathan ver, I tossed into my
No. 2 and No. 10 nation- Lansner trusty spreadsheet var-
ally in population, re- Columnist ious bits of government
spectively, and they’re data plus stats from Ex-
both home to dynamic perian, the National As-
industries creating cutting- sociation of Homebuilders,
edge products and services. CoreLogic, Gallup, PwC, the St.
(Oh, I hear they have excel- Louis Fed, AAA and Rentonom-
ics, creating two dozen yard- POVERTY RATE: THAT INCOME 726 vs. 703.
sticks of recent economic per- HELPS FEWER STRUGGLE FINAN-
formance for these two metro- CIALLY IN BOSTON » 9.6 percent GASOLINE PRICE » The price we
politan areas. Then we sized up vs. 14.1 percent. grumble about. Boston is eas-
which region had more busi- ily the winner, $2.43 a gallon to
ness muscle! LOCAL INFLATION RATE » Tied at our $3.32.
We kick off by comparing 3.2 percent. So L.A.’s got a big and early
how friendly each region is to deficit as we ponder job mar-
local household budgets … AVERAGE TOTAL PERSONAL kets …
DEBTS » Boston wins with less,
YEAR’S INCOME » Households $125,377 to $132,929. EMPLOYEES » Size can matter,
make more in Boston, $99,350 so L.A. wins, 6.78 million work-
to $84,632 in L.A. CREDIT SCORE » Boston pays ers to 2.69 million.
bills better! Average FICO of ECONOMY » PAGE 12

WOMEN ON TECHNOLOGY
MONEY & MINDSET

Hello, tax
season!
6 tips for
finding
a CPA
It’s a new year and
you might be looking to
make a change in your
business or personal
“team” for this year. That
team might include your
CPA, life coach, attorney
or financial planner.
Today, let’s look at the
CPA. A CPA is distin-
guished from other ac-
countants by stringent
state licensing require-
ments that include re-
quired hours of college
credit earned, passing an
examination, meeting an
experience threshold and
continuing education.
You might be quite
comfortable with your
CPA, but it’s still a good
idea to take stock of your
situation and see if that
person is still a good fit.
If circumstances have
changed, or you have
never used a CPA in the
past, you might want to
look for someone new.
Review your CPA’s JOHANNES BERG — BLOOMBERG
experience People who temporarily delete Facebook get a small but significant improvement in life satisfaction, a study shows.

Deactivating Facebook leaves people

For instance, your past
choice of a CPA may have
been based on the busi-
ness you owned at the
time. However, if the na-

less informed but happier, study finds

ture of your business has
changed, you may re-
quire additional knowl-
edge or experience from
your CPA.
Other changes such
as pending retirement, a
sale of a business, a di-
vorce, estate planning Researchers ever, researchers and consumer
advocates have scrutinized what
social welfare measures,” the re-
searchers wrote. The researchers
study of many on this topic and
it should be considered that way,”

or the death of a family
member may require a
CPA who has experience
in those areas and can
prepare the required tax
returns.
Does your CPA
communicate well?
Does he call you back
or respond to your e-
mails within 24 hours?
Does he talk to you us-
ing technical language
such as the IRS tax code
sections or does he use
plain English and sim-
ple terms? He should
take the time with you
to answer your questions
without continually look-
ing at his watch or talk-
ing about his next ap-
pointment.
Are you looking for a
large or small firm?
Large firms might
have the experience and
expertise you need for
TAX » PAGE 12
note benefits of
using site, too
By Hamza Shaban
The Washington Post
Around the world, more than 2.3
billion people are on Facebook, ac-
tively communicating and posting
and consuming on the platform,
a figure that continues to grow
and drive record profits, despite
a barrage of privacy scandals and
heightened scrutiny from U.S. law-
makers. Masses of people are not
abandoning Facebook, according
to the company’s fourth quarter
earnings, released Wednesday. In
fact, the company has reversed a
troubling trend in its most impor-
tant market: Facebook added us-
ers in North America for the first
time all year.
For Facebook fans, the benefits
of using the platform are clear:
It’s a way to stay connected with
friends, to consume news and en-
tertainment, and, for businesses,
to find potential customers and
audiences. In recent years, how-
the downsides of all that growth
and connectivity could mean for
society and individual health and
well-being.
In the latest study measuring
the effects of social media on a per-
son’s life, researchers at New York
University and Stanford Univer-
sity found that deactivating Face-
book for just four weeks could al-
ter people’s behavior and state of
mind. The study found that tempo-
rarily quitting Facebook led people
to spend more time offline, watch-
ing TV and socializing with family
and friends; reduced their knowl-
edge of current events and polar-
ization of policy views; and pro-
voked a small but significant im-
provement in people’s self-reported
happiness and satisfaction with
their lives.
What’s more, the researchers
found that the deactivation freed
up an hour per day for the average
person. And the people who took
a break from Facebook continued
to use the platform less often, even
after the experiment ended.
“Our study offers the largest-
scale experimental evidence avail-
able to date on the way Facebook
affects a range of individual and
concluded the experiment shows
the downsides of using Facebook,
even as the same results “leave lit-
tle doubt that Facebook produces
large benefits for its users.”
Participants said Facebook im-
proves their lives in clear and di-
verse ways, the researchers found,
from entertainment, to organiz-
ing philanthropy and activism, to
providing social bonds for people
who would otherwise feel isolated.
“Any discussion of social media’s
downsides should not obscure the
basic fact that it fulfills deep and
widespread needs,” the research-
ers said.
But the study found that the psy-
chological improvements of ab-
staining from Facebook suggest
that people may be using the social
network more than they should.
And while people are less informed
about the news when they are away
from Facebook, it also cooled par-
tisan thinking.
In a statement to The Wash-
ington Post on Thursday, Face-
book said its teams are focused
on fostering meaningful connec-
tions on the platform and have pro-
vided tools for users to better con-
trol their experience. “This is one
the company said, repeating the
study’s own findings that users
find clear benefits from the plat-
form and that Facebook helps peo-
ple stay informed.
The New York Times earlier re-
ported on the study, which was
posted on SSRN, an open access
research portal.
The researchers did urge cau-
tion in interpreting their results,
noting that people could have re-
acted differently if their break
from Facebook or other social me-
dia was longer. That might have
altered how users learned about
the news and could have changed
how they perceived their well-be-
ing. The types of people in the ex-
periment also may have influenced
the results, the researchers said.
The 2,844 Facebook users in-
volved in the study, which took
place in the run-up to the 2018
midterm elections, was not a fully
representative sample, the study
conceded. Participants were “rel-
atively young, well-educated, and
left-leaning compared to the aver-
age Facebook user,” and the study
only included people who said they
were on Facebook for more than 15
minutes every day.

Interest rate roundup

Rates last week were
curated from Bankrate.com
and Freddie Mac and are
subject to change.
Mortgage rates
30-year fixed mortgage:
4.46% APR; 15-year fixed
mortgage: 3.89% APR
After holding steady for
nearly a month while await-
ing a resolution to the fed-
eral government shutdown,
fixed mortgage rates cau-
tiously crept up last week.
According to the latest
data released Thursday by
Freddie Mac, the 30-year
fixed-rate average inched
up to 4.46 percent, with an
average of 0.5 point. (Points
are fees paid to a lender
equal to 1 percent of the
loan amount.) It was 4.45
percent the previous week
and 4.22 percent a year ago.
The 15-year fixed-rate aver-
age ticked up to 3.89 per-
cent, with an average of 0.4
point. It was 3.88 percent
the previous week and 3.68
percent a year ago. The five-
year adjustable-rate average
jumped to 3.96 percent,
with an average 0.3 point. It
was 3.90 percent the previ-
ous week and 3.53 percent a
year ago.
CD rates vs. national aver-
age
1-year CD: 2.71% APR (flat)
5-year CD (jumbo): 3.05% year, $2,000
(flat) Capitol One 360: 2.7%, 1
CD rates at Bankrate.com year, $0
(as of Thursday) Capitol One 360: 2.7%, 18
Synchrony Bank: 2.9%, 2 months, $0
years, $2,000
Customers Bank: 2.7%, 15
Goldman Sachs Bank USA: months $25,000
2.75%, 1 year, $500
Savings account: 1.23%
Synchrony Bank: 2.75%, 1 APR (flat)
12 | Y
BUSINESS | THE ORANGE COUNTY REGISTER » OCREGISTER.COM SUNDAY, FEBRUARY 3, 2019

Tax
and even tax programs
such as Turbo Tax to do
simple tax returns. With
FROM PAGE 11 the new tax law, more
people are expected to
your particular situation. do their own tax returns
If you have an unusual this year instead of using
issue that comes up, they a CPA.
probably have someone
else in the firm that can How much does
help with that particu- a CPA cost?
lar area. For some peo-
ple, a small firm is more Large firms usually
comfortable, where they charge more. Small firms
know all of the staff and have lower overhead and
are greeted by name therefore fewer costs to
when they walk into the pass on to clients. Both
office. A small firm might large and small firms
not be able to meet ev- charge for the experi-
ery one of your needs, ence level of their staff
but they probably know or partners. Also, if the
other CPA specialists individuals have spe-
that they can refer you to cial expertise in certain
easily. fields, they will charge
more for those services.
Do you really need Make sure you find a
a CPA? CPA that will meet your
needs, and then make
If you need an audit sure you are comfortable
of your financial state- with the fees.
ments, then you need a
CPA. Only a CPA can re- What services does
port on financial state- the CPA offer?
ments prepared to Amer-
ican Institute of Certi- For businesses, he can
fied Public Accountants help you set up your ac-
standards. If you are counting systems and ac- You might be quite comfortable with your CPA, but it’s still a good idea to take stock of your situation and see if that
looking for someone to cumulate, analyze and person is still a good fit.
do your bookkeeping, report financial and op-
maybe there is an inter- erations information for business. pare court/trust account- questions of each one, worked as a CPA for over
nal bookkeeper that you management decision- For individuals, he can ings. and be sure to request 25 years, specializing
can hire, or a bookkeep- making. He can prepare help with financial plans, There are many other references. in seniors, trusts,
ing service that would fit audits, reviews and com- budgets and retirement services a CPA can offer Next week, we will be estates court and trust
your need instead of hir- pilations required by the planning, developing an for a business or individ- looking at another team accountings and probate
ing a CPA. people you do business estate plan and assessing uals. member for your busi- litigation support.
For tax purposes, you with, and provide man- insurance needs. He also Before you make a se- ness or personal team. You can reach her via
can find enrolled agents, agement consulting ser- can work with seniors, lection, interview at least email at Marcia@
registered tax preparers vices for your individual act as a trustee and pre- three CPAs. Ask the same Marcia L. Campbell has MCampbellCPA.com.

Economy
— sorry, no intermission en- lion of tech seed cash to $5.43 gauge! owners but good for meeting
tertainment — we score each billion. housing needs. Boston wins, 7
town’s business backbone, with AFFORDABILITY » Boston wins percent to 6 percent.
FROM PAGE 11 L.A. still trailing … POPULATION GROWTH » Bos- with 39 percent of homes “af-
ton added people faster this de- fordable,” vs. 8 percent here. LATE HOUSE PAYMENTS » L.A.’s
UNEMPLOYMENT RATE: SEEMS GROSS DOMESTIC PRODUCT » cade, 0.6 percent annualized better at bill-paying, with 2.5
BOSTON IS AN EASIER PLACE TO L.A. wins the battle of total rate to 0.4 percent. HOME SALES: IT’S BEEN A ROUGH percent of its mortgages 30
FIND WORK » Its joblessness rate output, $1.02 trillion to $439 YEAR, BUT BOSTON DROPS LESS days or more delinquent, vs. 3.2
is 2.4 percent, vs. 4.2 percent. billion. WELL-BEING INDEX » When »Down 4 percent vs. L.A.’s 18 percent for Boston.
scored on livability, Boston percent dip.
JOB GROWTH, ANNUALIZED: BOS- OUTPUT GROWTH » The pace of wins again! It ranked 39th-best BUILDING PERMITS » No brag-
TON IS HIRING FASTER » 1.9 per- GDP upswing is tied at 2.8 per- out of 186 metros, vs. No. 53 for HOMEOWNERSHIP RATE » Boston ging rights for either squad!
cent a year, vs. 1.1 percent in cent. L.A. wins —62 percent to 48 per- Boston wins with 1 percent
L.A. L.A. needs a huge come- cent. growth, vs. L.A.’s 2 percent
ECONOMIC STRENGTH » One re- back as the final chapter be- drop.
COMMUTING TIME » If you’ve gional business index says Bos- gins. Now let’s tackle real es- RENTS » L.A. wins, with This game adds up to a New
ever driven through Boston, ton wins, 3.4 percent growth to tate markets … cheaper two-bedroom units England (aka Boston) victory,
you can understand why L.A. 3.1 percent. running $1,752 vs. $2,093. 16-6 — plus two ties!
wins, 30.8 minutes to 31.4 min- MEDIAN HOME PRICE » L.A. wins, Of course, I’m sure folks will
utes. VENTURE CAPITAL » Tech-savvy $620,000 to $470,000 … as- VACANT HOUSING UNITS » More argue with the referee’s think-
As we pass the halfway point Boston wins, getting $10.3 bil- suming price is a popularity availability is bad for property ing in this game, too.

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SUNDAY, FEBRUARY 3, 2019 THE ORANGE COUNTY REGISTER » OCREGISTER.COM | BUSINESS Y
| 13
REGULATION

Health and antitrust issues meet at CVS

By Steven Pearlstein
The Washington Post
There has been a lot of
talk in academic and policy
circles recently about the
failure of antitrust law to put
the brakes on a decades-long
merger wave that has consol-
idated industry after indus-
try into a handful of domi-
nant players, in the process
deterring innovation and en-
trepreneurship, slowing eco-
nomic growth and widening
the income gap between the
rich and everyone else. Even
pro-market conservatives
not known for their regula-
tory zeal acknowledge there
is a problem.
Two new books artfully
marshal the arguments and
the evidence: “The Myth of
Capitalism” by Jonathan
Tepper, an economist and
former hedge fund trader;
and “The Curse of Big-
ness” by Tim Wu, a profes-
sor at Columbia Law School
in New York and adviser to
President Barack Obama’s
administration.
Both authors lay out
how, over the past 40 years,
judges and regulators, in a
vain search for more objec-
tive and scientific criteria,
have taken a ridiculously
cramped view of the anti-
trust law. Too many cases are
reduced to a highly technical
econometric quarrel about
whether prices will rise or
fall rather than a more full
— if somewhat more subjec-
tive — analysis of whether
competition is likely to be re-
duced. This mistakenly nar-
row “consumer welfare” ap-
proach is so woven into the
case law and the habits of
judges and regulators that
only a revision to the law it-
self, both authors conclude,
can restore the competi-
tiveness of a postindustrial
economy.
I was recently reminded of
this timidity when I visited
the Justice Department’s an-
titrust chief and his staff to
hear why they decided not
to block the merger of CVS
— which through acquisi-
tion has become the nation’s
The Justice Department decided not to block the merger of pharmacy CVS and health insurer Aetna, both industry giants.
largest retail pharmacy and
pharmacy benefit manager
for insurers — with the coun-
try’s third-largest health in-
surer, Aetna. Weeks earlier,
they had also given approval
to a similar merger between
Express Scripts, a pharmacy
benefit manager, and Cigna,
a insurer.
These are what are known
as “vertical” mergers —
mergers between companies
and their suppliers or their
customers — as opposed to
mergers between compa-
nies that compete head to
head doing the same thing.
The reason vertical mergers
are at the front line of com-
petition policy is very sim-
ple: The government has al-
ready allowed so many hor-
izontal mergers, meaning a
lot of industries are domi-
nated by two or three firms,
that even the most brazen
corporate lawyers know they
can’t defend further consoli-
dation of direct competitors.
Unless corporate executives
are willing to do something
risky and hard like actually
improving their products
and services, the only other
way for them to deliver dou-
ble-digit earnings growth
year after year is to merge
with a customer or supplier.
(Mergers also tend to be
bonanzas for the executives
who negotiate them. The
severance package for Aetna
Chief Executive Mark Berto-
lini is valued at half a billion
dollars.)
Anyone who doubts that
the CVS-Aetna merger
would reduce competition
in markets only has to read
the record compiled by Da-
vid Jones, the California in-
surance commissioner, at an
open hearing last summer
during which an impressive
array of economists and law-
yers came to the same con-
clusions that anyone who
pays for drugs and insur-
ance would:
• The markets for health
insurance and pharmacy
services are already so con-
centrated, so uncompetitive
and so lacking in price trans-
parency that any cost sav-
ings that might flow from
the merger would be cap-
tured by shareholders in the
form of higher profits, not
customers in the form of
lower prices.
• A combined CVS-Aetna
would have the incentive
and the power to steer mil-
lions of Aetna’s custom-
ers away from independent
pharmacies and doctors of-
fices to CVS through price
incentives or by excluding
competitors from the com-
pany’s networks.
• CVS, as a pharmacy ben-
efit manager, would have the
incentive and power to raise
costs for other insurance
companies that it serves,
driving some from the mar-
ketplace.
• The merger, along with
that of the Cigna-Express
Scripts merger, would make
it harder for any company
to enter the insurance or
pharmacy markets without
entering both at the same
time, reducing the possibil-
ity of future competition.
These experts did not
have to rely on theoretical
economic models and as-
sumptions to support their
conclusions. It turns out
that, when it comes to anti-
competitive behavior, CVS
already has a long rap sheet.
As a pharmacy benefit
manager for a number of
insurance companies, in-
cluding Aetna, CVS often
requires consumers to buy
drugs for chronic conditions
from its mail-order phar-
macy, or makes it more ex-
pensive not to do so.
Along with other phar-
macy benefit managers, CVS
has also reduced reimburse-
ment rates to retail phar-
macies for generic drugs
to levels lower than what
it costs the pharmacists to
buy the drugs from whole-
salers. Recently, one retailer
— Walmart, no less! — re-
fused to accept CVS’ pricing
and pulled out of CVS’ retail
network.
For those that remain
in its network, CVS’ stan-
dard contract contains gag
clauses that prevent them
from telling consumers
that they could save money
by paying for many ge-
neric drugs out of their own
pockets rather than putting
it through their insurance
plan, which sometimes re-
quires an even larger co-pay.
According to one study by
ZACH GIBSON — BLOOMBERG
researchers at the University
of Southern California, con-
sumer co-pays exceed what
insurers pay for drugs in
one quarter of all prescrip-
tions. (Other managers do
the same.)
As consumers in the
Washington, D.C., region
know all too well, CVS spent
years buying up indepen-
dent pharmacies only to shut
them down. Those that re-
fused to sell out often found
that a CVS would open on
the next block.
One of the more creative
arguments made by CVS and
Aetna to justify their merger
is that Aetna could steer its
customers to an expanded
network of walk-in medi-
cal clinics in CVS stores for
treatment of minor condi-
tions, substituting for more
expensive visits to doctor’s
offices or hospital emergency
rooms.
The companies estimate
cost savings of “hundreds of
millions of dollars a year,” al-
though they declined to tell
the California commissioner
how much of those savings
will translate into premium
reductions.
When I put these con-
cerns to Makan Delrahim,
the assistant attorney gen-
eral for antitrust, and his
staff, they said they had all
been considered and dis-
missed.
Instead, the government
accepted CVS’ argument
that it would not have any
incentive to engage in anti-
competitive practices and
would realize operating ef-
ficiencies from the merger
that would be passed on
to consumers — the same
tired and discredited argu-
ment used to defend every
megamerger for the past
30 years. And if it turns out
CVS-Aetna does engage in
such anti-competitive prac-
tices, Delrahim and his staff
assured that they could file
an anti-monopolization suit
against the company un-
der the Sherman Act. The
last time that was done was
during the Clinton adminis-
tration.
In recent weeks, however,
Delrahim has been forced
to explain his decision to a
higher authority. It turned
out there was one small area
where Aetna and CVS com-
peted directly: offering drug
coverage plans under Medi-
care. Aetna agreed to the
government’s demand that it
sell its unit to another com-
pany. Under a law known
as the Tunney Act, a federal
judge must rule that the set-
tlement is “in the public in-
terest.”
Normally, that’s a pro
forma process. But in this
case, Judge Richard Leon
of the U.S. District Court for
the District of Columbia has
expressed concern that the
government had not suffi-
ciently explored the poten-
tial competitive harm from
the “vertical” merger of a
leading insurer with a dom-
inant pharmacy.
When government law-
yers explained to Leon that
he could not consider is-
sues outside the narrow
scope of the proposed set-
tlement — the market for
Medicare drug plans — the
judge barked back that he
had no intention of acting
as a “rubber stamp” for the
government. He set a further
hearing for Feb. 15, when he
is scheduled to consider a
broad range of objections to
the merger filed by commu-
nity pharmacists, the Ameri-
can Medical Association and
the American Antitrust In-
stitute.

PAY

CEO made $357 million off small firms, $3.50 at a time

By Anders Melin
and Reade Pickert
Bloomberg
In her 35 years running a small
business, Maria Kirk dealt with
only one company that made her
physically ill: fuel card provider
FleetCor Technologies Inc. and
the thousands of dollars in fees
it charged.
“Many companies try to nickel-
and-dime you, but this can’t even
compare,” said Kirk, the owner
of an ice delivery company in Or-
lando, Florida. She said her health
deteriorated in the years it took
to resolve the dispute. “It felt
like: ‘Let’s wear everybody down
and see how much money we can
glean from those that stop fight-
ing back.’ ”
Kirk and other small-business
owners signed up for FleetCor’s
fuel cards hoping to organize
their spending and save money
at the pump. But the cards came
with more than a dozen fees, in-
cluding an account administra-
tion charge (10 cents a gallon or
$2 per transaction), $50 to pay
bills by wire, $3.50 per billing cy-
cle if the cards aren’t used, and,
for some, a surcharge if gasoline
falls below $3.25 a gallon. The last
time the price was that high was
2014.
FleetCor’s practices have made
it a Wall Street darling. Since go-
ing public in 2010, revenue has
climbed fivefold to $2.2 billion, its
stock has surged more than 780
percent and Chief Executive Of-
ficer Ron Clarke has become one
of America’s highest-paid bosses.
He has taken home $357 million
since the IPO, an amount nearly
equal to what Visa Inc. and Mas-
tercard Inc., the world’s biggest
payments networks, paid their
leaders combined over the same
time period.
Consumer advocates and some
former FleetCor executives say
the company is an embodiment
of bare-knuckles, winner-takes-
all capitalism, and takes advan-
tage of smaller fish who have little
recourse but to complain to reg-
ulators or undertake costly lit-
igation. Defenders say its hard-
charging style has generated bil-
lions for investors and made it the
largest U.S. fuel card provider.
“The company figures out the
easiest way to make money,” said
Jeff Lamb, a former FleetCor ex-
ecutive. “That’s not a dumb thing
to do — that’s smart.”
“A good company should be
one that makes all its stakehold-
ers happy — its investors and its
customers,” said Bart Naylor, a fi-
nancial policy advocate at Public
Citizen. “Just because a practice
is legal, it shouldn’t be an invita-
tion for exploitation.”
Regulators haven’t accused
Norcross, Georgia-based Fleet-
cor of wrongdoing. The company
said it believes its fees and bill-
ing practices comply with all laws
and regulations.
“The majority of our more than
800,000 business customers are
very satisfied with the value we
provide, have no minimum con-
tract period, and consistently
choose to continue using Fleet-
Cor’s products and services, as
evidenced by our sustained high
retention rates,” the company said
in a statement. FleetCor said in
October its customer retention
rate was 92 percent.
Since 2014, FleetCor customers
have filed 366 complaints with the
Federal Trade Commission. By
comparison, Wex Inc., FleetCor’s
top U.S. competitor and less than
half its size, drew 44. In 2017, the
grievances drew the attention of
short sellers, led by Citron Re-
search’s Andrew Left, who called
FleetCor’s practices predatory.
“This is a business model in-
tended to deceive,” Left told
Bloomberg at the time.
Clarke, 63, shot back that the
accusations were “fake news.”
Shares ended the year up 36 per-
cent. Wall Street analysts remain
bullish on FleetCor stock, saying
it should trade close to $237 in
the next 12 months, a 17 percent
increase from its current level.
Clarke declined to be interviewed.
FleetCor’s customers are usu-
ally smaller companies with
fleets of vehicles, such as truck-
ing businesses, construction com-
panies and shuttle services. The
fuel cards give users a discount
per gallon and help gas retailers
attract more customers. Fleet-
Cor collects a slice of each trans-
action.
Fuel cards aren’t subject to the
same regulations as consumer
credit cards, which are governed
by legislation meant to protect
consumers from practices that
include short payment deadlines
and excessive fees.
Among the FTC complaints
are scores of FleetCor customers
who said online payments took
days to register, resulting in late
fees, and calls to customer service
that meant hours spent on hold or
empty promises of refunds.
Some former FleetCor employ-
ees, including Lamb, say criti-
cism about FTC complaints is
overblown.

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Today’s Rates
40yr Fixed w/ 10yr Interest Only: 4.75% with 4.82% APR (1 pt)
Primary, 2nd Home, or Investment. Loans to $2.5 million
Great for cash-flow without the risk of adjustable mortgages
Conforming Super Conforming Jumbo
Loans to $484,350 Loans to $726,525 Loans to $10 million
Term Rates APR Points & Fees Term Rates APR Points & Fees Term Rates APR Points & Fees
30 Year Fixed 3.750% 3.881% 1.25pt +$495 30 Year Fixed 4.125% 4.132% 1 pt + $495 30 Year Fixed 4.000% 4.031% 0 pts + $995
30 Year Fixed 4.000% 4.030% 0 pts +$495 30 Year Fixed 4.250% 4.250% -0.5 pts + $495 7 Year ARM 3.625% 4.891% 0 pts + $525
30 Year Fixed 4.125% 4.125% -0.5 pt +$495 15 Year Fixed 3.750% 3.813% 0 pts + $495 7 Year ARM 3.875% 4.931% 0 pts + $525
w/Interest Only
15 Year Fixed 3.375% 3.569% 1 pt + $495 15 Year Fixed 3.875% 3.875% -0.5 pt +$495
10 Year ARM 4.000% 4.801% 0 pts + $525
15 Year Fixed 3.625% 3.686% 0 pts +$495 5 Year ARM 3.625% 4.981% 0 pts + $525
10 Year ARM 4.125% 4.881% 0 pts + $525
15 Year Fixed 3.750% 3.750% -0.5 pt +$495 7 Year ARM 3.625% 4.879% 0 pts + $525 w/Interest Only
Fixed Rate Reverse Mortgage: 4.81% with 5.67% APR (0 pts): No monthly mortgage payment, only pay property taxes & insurance
Difficulty qualifying? We can use liquid assets and recently setup IRA distributions as income on most programs. Call for details.

1601 Dove St, Suite 181, Newpor t Beach, CA 92660

Real Estate Broker, CA DRE. Rates effective 1/31/2019. All rates & fees are subject to change without notice. All rates quoted are for
NMLS #1323733 1st trust deeds. APR on ARMs may increase after consummation. Residential ARMs info: 2.25 margin, 1yr LIBOR index, 2/2/6 caps,
30yr term. Locks for all rates quoted: 30 days. This material is not from HUD or FHA and has not been approved by HUD or a
CA DRE #01948374 government agency. APR assumptions: 760+ FICO, primary home, SFR, purchase, $484k mtg ($1 mil for jumbos), 60% LTV
14 | Y
BUSINESS | THE ORANGE COUNTY REGISTER » OCREGISTER.COM SUNDAY, FEBRUARY 3, 2019

SAVINGS

As Wall Street freaked out, 401(k) savers held steady

By Stan Choe
The Associated Press
While professional trad-
ers on Wall Street scram-
bled to sell stocks amid a
fear-fueled, nearly 20 per-
cent drop for the S&P 500
late last year, most people
at home remained relatively
calm when it came to their
own retirement savings.
So say numbers from Fi-
delity Investments, which
show that the vast major-
ity of 401(k) participants
continued to sock savings
away in their accounts and
refrained from the perhaps-
tempting choice to abandon
stocks and hide out in the
safety of cash.
Investors held the stead-
fast approach even as the
average 401(k) balance
dropped to $95,600 by the
end of the year, down 10
percent from three months
earlier. The chief culprit
was a fear about a possible
recession, which sent the
S&P 500 down 19.8 percent
between setting its latest
record high Sept. 20 and
hitting a bottom on Christ-
mas Eve.
It’s an encouraging sign
because stocks have histor-
ically provided the best re-
turns over the long term.
So, as long as someone is
willing to stomach such
bouts of volatility and hold
on for years, owning stocks
is one of the best ways an
investor can have a bigger
pot to pay for retirement.
“The most encouraging
thing is that most people
didn’t have a knee-jerk re-
action, and they continued
to save or increased their
savings rates” said Jeanne
Thompson, senior vice pres-
ident at Fidelity. “This is
the proof that the messag-
ing has gone through. We’ve
come a long way in the last
10 years.”
Much of the credit goes
to one of the most powerful
forces in investing: inertia.
People often lean toward
making no changes, par-
ticularly when it involves
something as big and com-
plicated as saving for retire-
ment. Employers and the
investment industry have
tried to harness that for
good by automatically en- RICHARD DREW — THE ASSOCIATED PRESS

EARN 14% INTEREST

rolling workers into 401(k)
plans, automatically setting
them up to increase their
contributions each year and
Secured by Real Estate automatically placing their
savings into target date re-
39 Years Experience tirement funds.
That way, if workers take
Photo specialists work at a post on the floor of the New York Stock Exchange. Only 5.6
percent of Fidelity Investments’ 401(k) account holders changed their asset allocations
during the fourth quarter last year, though the S&P 500 plunged nearly 14 percent.
that are appropriate for
their age. Last quarter, 99.1
an investor’s nest egg, and
they keep a lot of money in
401(k) investors changed
how their assets were div-
percent of all 401(k) partic-
ipants at Fidelity continued
stocks when retirement is
decades away and shift to
vied up during the fourth
quarter.

949-212-3492
no action with their 401(k)
accounts, they’re still sav-
ing a portion of each pay-
Real Estate Broker, ERET Inc. check and putting their
money into investments
Lic#01102481
to regularly contribute, the
highest percentage since
early 2011.
Target date funds take
care of how to divvy up
more bonds as time goes “The market went down,”
on. That allows savers to Thompson said, “but in
put the investment deci- terms of employees’ behav-
sions on autopilot, and
only 5.6 percent of Fidelity’s
ior, it continues to remain
incredibly positive.”

Meet Your
Neighborhood Experts!
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North OC & Yorba Linda

leilanih@pacbell.net

John Boydston Dan & Kim Shell Michelle Fairchild Teresa & Craig Rineer Gary & Cheryl Hansen Richelle Redivo
714-642-2257 949-837-1212 714-697-4302 714-325-6962 714-743-9900 949-838-5449
Specializing Specializing in Thinking about buying or The Team Real Estate My mission
in Huntington Manufactured Homes sellingamanufacturedhome? Professionals, is to provide
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& Placentia.

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Serving the 714-973-0207 Years of Experience that counts! Specializing in Anaheim Hills,
needs of Buyers Senior Mfd. Housing Coldwell Banker ali@aliburns.com Yorba Linda, Fullerton and
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Kevin Hill Jeremiah Secrest There are many qualities and skills that go Hanu Reddy Nina Rushton
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over 14 offices
KevinHillRE.com That said, in my experience as a Huntington Beach real estate in India Newport
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#1 Husband
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expert in your Realtors business. In addition, I’ve found that the latest technologies are Mission Viejo in San Clemente.
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Elizabeth Otok Zee Zee Baset, Ph.D. This Could Be You! Steve Bragdon Elaine Grear Debbie Neugebauer
949-632-2800 714-501-7636 You too can 714-350-3665 714-777-0106 714-323-6188
Specializing in Specializing in be a real estate Specializing in Specializing in the Top Producer
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elizabethOtok@gmail.com www.SteveHomes4u.com County Since 1983.
Advertise with
us today!
SUNDAY, FEBRUARY 3, 2019 THE ORANGE COUNTY REGISTER » OCREGISTER.COM | REAL ESTATE Y
| 15

J O H N S T A N A L A N D

25 SHORELINE DRIVE
Dana Point | $12,995,000

33 MONARCH BAY DRIVE 675 CLIFF DRIVE

Dana Point | $14,995,000 Laguna Beach | $9,975,000

49 NORTH LA SENDA DRIVE 2577 VICTORIA DRIVE

Laguna Beach | $7,995,000 Laguna Beach | $7,995,000

25 WOODS TRAIL 18 SOUTH PEAK

Irvine | $4,400,000 Laguna Niguel | $2,699,000

JOHN STANALAND
949 689 9047
JOHN@JOHNSTANALAND.COM
john stanaland .com JOHNSTANALAND.COM
DRE No. 01223768
16 | Y
REAL ESTATE | THE ORANGE COUNTY REGISTER » OCREGISTER.COM
SUNDAY, FEB 3, 2019
IRVINE
LIFE WILL BE DIFFERENT HERE…COME AND SEE WHY
W
ith so many inspired
ways to live, Cadence
Park in Ir vine
provides the perfect
backdrop for creating, dreaming
and imagining. This neighborhood
features homes with expansive
floorplans, beautiful parks
abundant amenities. Special enclaves
celebrate music, sculpture
LAKE FOREST
‘PHASE TWO OF COPPERLEAF AT
IRONRIDGE BY LANDSEA HOMES
NOW AVAILABLE FOR NEW
HOMEBUYERS
• First Phase Sold Quickly
• 14 Homes Already Sold
• 3-Story Townhomes Priced from the
Mid-$500,000s
• High Performance Homes in Gated
Master Planned Community Near
World-Class Shopping, Dining and
Entertainment
The second phase of homes in the
highly-anticipated neighborhood of
Copperleaf at IronRidge by Landsea
Homes in Lake Forest, CA are now
available. Priced from the mid-
$500,000s, these townhomes are
among the most attractive new home
opportunities in Orange County.
“The thoughtful planning of
Copperleaf at IronRidge is a direct
result of our in-depth market
research,” said Tom Baine, president,
Landsea Homes, southern California
division. “New homebuyers are
looking for attractively-priced housing
within a master-planned community
that is close to great schools and
outstanding shopping, dining and
entertainment – all of which can be
found at Copperleaf.”
Copperleaf went on sale in December
2018, and sold quickly, with 14
families have already purchased homes.
Model homes at Copperleaf grand
open on Saturday, February 23, and
will be available for tour from 10 a.m.
to 5 p.m. daily.Surrounded by nature
LA HABRA
NEW TOWNHOMES FROM THE HIGH $500,000s
IN LA HABRA BY SHEA HOMES
N
ow selling in La Habra,
Skylark Townhomes by
Shea Homes embody
modern convenience
with a stylish blend of smart and
comfortable design. Inspired by form
to function, these new townhome
designs invite connected living and a
community-centric experience with a
park including covered picnic tables,
BBQ area, bike racks, benches, and
permanent cornhole games.
Offering the rare opportunity to
own a brand-new home in the
established community of La Habra,
Shea Homes’ Skylark residences offer
spacious, three-story living with
interiors framed by modern exterior
stylings. Residences feature up to
approximately 2,121 square feet of
living space with 3 bedrooms, 3.5
creativity, while an ultramodern K-8
school has opened right in the heart
of the neighborhood. With infinite
ways to play, Cadence Park also
features an outdoor amphitheater, a
gorgeous pool, two beautiful bocce
courts, shuffleboard and more.
and
Visit our Information Center to
and meet our seven builders and learn
and built in a coveted, gated, master
plan setting, Copperleaf at IronRidge
includes 107 homes at build-out and
offers six distinct floorplans that meet
the ever-changing needs of today’s
new homebuyer:
• Plan 1 – Townhomes from
approximately 1,195 square feet,
including two bedrooms and two
and one-half bathrooms; from the
$538,000s.
• Plan 2 – Townhomes from
approximately 1,386 square feet,
including three bedrooms and two
and one-half bathrooms; from the
$593,000s.
• Plan 3 – Townhomes from
approximately 1,800 square feet,
including three bedrooms and three
and one-half bathrooms; from the
$683,000s.
• Plan 4 – Townhomes from
approximately 2,073 square feet,
including three bedrooms and three
and one-half bathrooms; from the
$718,000s.
•Plan 5 – Townhomes from
approximately 2,115 square feet,
including four bedrooms and three
and one-half bathrooms; from the
$743,000s.
•Plan 6 – Townhomes from
approximately 2,346 square feet,
including four bedrooms and three
and one-half bathrooms; from the
baths, game room, kitchen with
island, and a breezy deck off the
great room and master bedrooms,
respectively. Residence Two also
enjoys a beautiful loft for added living
options. Both residences have an
attached 2-car garage. Skylark starts
at $598,000.
“Skylark floorplans have been
designed to embrace today’s
lifestyle,” said Karen Ellerman, Vice
President of Sales and Marketing for
Shea Homes. “The convenient deck
off the great room is the perfect space
to just sit and relax at the end of the
day. The open living areas enhance
communication and the gourmet
kitchen is generously equipped for
entertaining.”
Skylark’s impressive interiors include
more about
home collections, including; Deco
by K. Hovnanian, Prado by KB
Home, Muse by Taylor Morrison,
Duet by Pulte Homes, Cabaletta
by Richmond
L yric by TRI Pointe Homes and
the Lennar Collections of Marcato,
Capella, Crescendo,
Adagio, Cantata, Encore and Chorus.
$765,000s.
IronRidge, a gated master-planned
community in Lake Forest, is located
on Glenn Ranch Road near El Toro
Road. The community offers a
wide variety of spacious, family-
friendly living opportunities, active
amenities and incredible proximity
to world-class shopping, dining and
entertainment, beautiful beaches,
scenic recreational opportunities and
some of the last hilltop views available
in the region.
Set amidst an idyllic hillside with the
glorious Saddleback Mountains as
a backdrop, residents of Copperleaf
at IronRidge will enjoy easy access
to premier beaches and world-class
shopping, dining and entertainment
at nearby Irvine Spectrum Center.
Each home is energy efficient,
featuring dual-glazed windows, a
tankless water heater with a scale
shield, energy-saving wall and ceiling
insulation, and environmentally
efficient LED lighting.
At the heart of the gated master-
planned community is The Ridge,
a recreation center that meets the
needs of all ages.Residents may
entertain at The Ridge Club and
Event Lawn, take a dip in the resort-
style pool or relax in a calming spa.
Families and friends can play on a
drop-shot court Story continues at
www.facebook.com/newhomeslive
fine touches such as quality smooth-
finish two-paneled interior doors
throughout, stylish Decora light
switches, and advanced Category
5e wiring for high–speed data
connections. Kitchens feature granite
countertops, islands for gathering and
conversation, Shaker Thermofoil®
white cabinets with concealed hinges,
and designer Moen® faucets.
Skylark is surrounded by a bustling
landscape of shopping and dining.
La Habra includes a lively arts and
culture scene of live theater, concerts,
festivals, and a variety of special
events.
Commerce is plentiful with businesses
located throughout the city, ranging
from small, family-owned ventures
to larger stores like Costco, Kohl’s,
SUNDAY, FEBRUARY 3, 2019
Ranging in sizes from approximately additional baseball and softball
1,616 – 4,585 sq. ft. and priced diamonds. Another six synthetic and
from $700,000 to over $1,000,000, four natural turf flex fields, and four
there is a wide variety of options to basketball courts are now available
accommodate ever y preference. to enjoy. This spectacular sports
compound beckons local families to
Additionally, Great Park
get their game on like never before.
Neighborhoods offers a phenomenal
new place to play - The Pools Coming soon to Great Park
park. This neighborhood park Neighborhoods will be the next
features several aquatic choices, neighborhood where no two days
including an 8-lane competition or walks are the same. Novel
pool, a calming resort–style pool, Park will be a novel new place to
refreshing spas, children pools and play. With seven new collections
play & fitness areas. Families also by William L yon Homes, there
benefit from the latest innovations will be surprises and delights for
in education at three new schools all. For more information, visit
conveniently located in Great Park https://www.greatparkneighborhoods.com/
Neighborhoods, including the state- neighborhoods/novel-park.
of-the-art Beacon and Cadence Park
To learn more about Great Park
K-8 Schools as well as Portola High
Neighborhoods, visit the Cadence
School. All of these schools are a part
Park Info Center between 10 a.m.
of the award-winning Ir vine Unified
and 5 p.m. To arrive, from Ir vine
School District.
Blvd., turn on Modjeska and follow
With the Orange County Great Park the signs. To visit Great Park
Sports Park just a short bike ride Neighborhoods from Sand Canyon
away, residents can enjoy new soccer/ Ave., turn on Great Park Blvd.,
14 beautiful new lacrosse/rugby fields, 25 tennis turn left on Ridge Valley, then turn
courts, five sand volleyball courts, right on Benchmark and follow the
a 1-acre children’s playground and
signs. For more information, visit
flex-fields for football, cricket and
www.GreatParkNeighborhoods.com.
other large lawn sports. Recently,
We invite you to come out and
American Homes, an additional 48 acres of the Sports
Park has been completed, offering visit Great Park Neighborhoods
sports enthusiasts two championship and the model homes of Cadence
Serenade, stadiums to enjoy – one each for Park. For more information, visit
baseball and softball, as well as www.GreatParkNeighborhoods.com.
RANCHO MISSION VIEJO
DISCOVER WHAT YOU LOVE
ABOUT LIVING ON THE RANCH
M
eet George and including Gavilan neighborhoods community.
Cynthia Winston!
These two were exclusive to residents age 55+.
“We love getting drinks at The
interested in
“Our new home is just the right Hilltop Club with our neighbors,
downsizing from their home in
size. It’s low maintenance and and we are regulars at Taco
Laguna Hills to something cozier
has the most incredible view,” Tuesday at Sendero,” explained
in retirement. They weren’t
Cynthia. “Living here is like being
said Cynthia. “We’re right on the
actively looking to move, but one
canyon so we often see deer, owls, at a resort.”
Sunday afternoon, the Winstons
and hawks.” “Plus, it feels remote yet we’re
decided to explore Rancho Mission
From their patio, the Winstons so close to everything,” added
Viejo after seeing an ad in the
enjoy views of the protected George. “There’s so much to do
paper.
ridgelines and canyons of The and see.”
As the Winstons explored the
Reserve at Rancho Mission Viejo, Come see for yourself at a special
community, they were captivated
a rich habitat preserve that will “Love The Ranch” event on
by all The Ranch had to offer. ultimately grow to be more than February 10, 2019 at the award-
From award-winning amenities 20,000 acres. winning Hilltop Club. Event
to an eclectic mix of social
The carefree Gavilan lifestyle attendees can enjoy food trucks,
programming, there’s so much to entertainment and more while they
features an exclusive invitation
discover on The Ranch. experience all there is to love about
to RanchLife events, including
Currently available for purchase happy hours, group fitness classes, Rancho Mission Viejo.
at Esencia is a wide variety of and nearly 50 resident-led clubs, Visit www.RanchoMissionViejo.com
neighborhood offerings ranging all for residents of the many 55+ for event details and to learn more
in price from the $500,000s to neighborhoods on The Ranch. The about the homes currently for
over $1 million, designed to meet Winstons are regular participants, sale on The Ranch as well as the
the needs of couples, families which has allowed them to get community amenities now open
and adventurous empty-nesters, to know their neighbors and the and coming soon.
and Target. Local parks, active sports
complexes, skate parks, and malls
offer recreation for families of every
age.
Visit Skylark located at 1220 West
La Habra Blvd., Unit 105 in La
Habra, CA 90631. The Information
Center is open Thursday - Sunday,
10 a.m. to 5 p.m., Wednesday 2 to
5 p.m., closed Monday and Tuesday.
For more information and directions
visit www.SheaHomes.com or call
949.526.8875.
Shea Homes is one of the largest
private homebuilders in the nation.
with a reputation for design, quality Carolina, Florida, Virginia and
Since its founding in 1968, Shea
and customer service. Shea Homes Texas. For more information about
Homes has built more than 100,000
builds new homes in California, Shea Homes and its communities,
homes. Over the past several years,
Arizona, Nevada, Colorado, please visit the company’s website at
Shea Homes has been recognized
as a leader in customer satisfaction Washington, North Carolina, South www.SheaHomes.com.