Home for Sale at 1409 Dolphin Terrace, Corona del Mar, CA 92625

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1409 Dolphin Terrace
Corona Del Mar, CA 92625

Hanna Karcho-Polselli with Luxury Fine Homes, Inc., original listing - (248) 568-3077

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Property Details

List Price:	$22,900,000
Beds:	5
Baths:	Full: 5, ½: 2
Status:	Active
SqFt:	6769 Square Feet
Agency:	Luxury Fine Homes, Inc.
Agency Phone:	(248) 568-3077

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Description/Comments

Lot Size:	0 acre(s)
Garage:	Garage
Property Type:	Residential-Single Family Residence
Year Built:	1995
Notes:	1409 Dolphin Terrace the epitome of coastal luxury living in the prestigious Irvine Terrace neighborhood. <br /> <br /> This immaculate home has undergone a complete transformation, offering unparalleled sophistication and breathtaking views from almost every corner.<br /> Situated on the widest lot in Front Row Dolphin Terrace in the community of Irvine Terrace, spanning an impressive 125 feet, this residence boasts expansive vistas of the harbor, ocean, Catalina Island and city lights. <br /> <br /> Step inside to discover five generously proportioned en suite bedrooms, each offering ultimate comfort and privacy. With six meticulously designed bathrooms, every detail has been thoughtfully curated to enhance your living experience.<br /> <br /> The open-concept floor plan seamlessly connects the indoor and outdoor spaces, inviting an abundance of natural light and refreshing sea breezes. The gourmet kitchen is a chef's dream, featuring high-end appliances, custom cabinetry, and 2 large center islands, perfect for entertaining guests.<br /> <br /> Relax and unwind in the luxurious living areas, adorned with designer finishes and panoramic views that serve as a stunning backdrop for everyday living.<br /> <br /> Outside, the meticulously landscaped grounds offer multiple al fresco dining areas, a sparkling pool, and spa, creating an oasis of tranquility where you can soak in the coastal ambiance and savor the majestic sunsets.With its prime location, unparalleled views, and exquisite craftsmanship, this remodeled home represents the epitome of coastal California living, where every day feels like a retreat.
MlsNumber:	--
ListingId:	OC24224843

Listing Provided By:	Luxury Fine Homes, Inc., original listing
Phone:	(248) 568-3077
Office Phone:	(248) 568-3077
Agent Name:	Hanna Karcho-Polselli
Disclaimer:	Copyright © 2024 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest.

The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered.

VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale.

This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments.

Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.

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