Real estate news: 30 Newport Beach condos to list between $2 million and $4 million

  • Parkhouse Residences, a luxury condominium development in Newport Beach, opens for sales, beginning Oct. 4. Prices will start at $2 million, rising to more than $4 million, according to developer Shopoff Realty Investments in Irvine. The community has five, five-story buildings with 30 homes ranging from 2,000-3,000 square feet in three-bedroom flats and two-story penthouses. (Courtesy of DBOX and Shopoff Realty Investments)

  • Parkhouse Residences, a luxury condominium development in Newport Beach, opens for sales, beginning Oct. 4. Prices will start at $2 million, rising to more than $4 million, according to developer Shopoff Realty Investments in Irvine. The community has five, five-story buildings with 30 homes ranging from 2,000-3,000 square feet in three-bedroom flats and two-story penthouses. (Courtesy of DBOX and Shopoff Realty Investments)

  • Parkhouse Residences, a luxury condominium development in Newport Beach, opens for sales, beginning Oct. 4. Prices will start at $2 million, rising to more than $4 million, according to developer Shopoff Realty Investments in Irvine. The community has five, five-story buildings with 30 homes ranging from 2,000-3,000 square feet in three-bedroom flats and two-story penthouses. (Courtesy of DBOX and Shopoff Realty Investments)

  • Parkhouse Residences, a luxury condominium development in Newport Beach, opens for sales, beginning Oct. 4. Prices will start at $2 million, rising to more than $4 million, according to developer Shopoff Realty Investments in Irvine. The community has five, five-story buildings with 30 homes ranging from 2,000-3,000 square feet in three-bedroom flats and two-story penthouses. (Courtesy of DBOX and Shopoff Realty Investments)

  • Parkhouse Residences, a luxury condominium development in Newport Beach, opens for sales, beginning Oct. 4. Prices will start at $2 million, rising to more than $4 million, according to developer Shopoff Realty Investments in Irvine. The community has five, five-story buildings with 30 homes ranging from 2,000-3,000 square feet in three-bedroom flats and two-story penthouses. (Courtesy of DBOX and Shopoff Realty Investments)

  • Parkhouse Residences, a luxury condominium development in Newport Beach, opens for sales, beginning Oct. 4. Prices will start at $2 million, rising to more than $4 million, according to developer Shopoff Realty Investments in Irvine. The community has five, five-story buildings with 30 homes ranging from 2,000-3,000 square feet in three-bedroom flats and two-story penthouses. (Courtesy of DBOX and Shopoff Realty Investments)

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Parkhouse Residences, a luxury condominium development in Newport Beach, opens for sales, beginning Oct. 4.

Prices will start at $2 million, rising to more than $4 million, according to developer Shopoff Realty Investments in Irvine.

The condos are part of the $1.25 billion master-planned Uptown Newport community at Jamboree Road and MacArthur Boulevard.

Parkhouse has five, five-story buildings with 30 homes ranging from 2,000-3,000 square feet in three-bedroom flats and two-story penthouses.

Read more: Orange County housing saw $100,000-plus price gains in 56 of 83 ZIPs

The homes were designed by Costa Mesa-based Blackband Design.

Amenities include a lap pool and hot tub, fitness center, private garages, direct elevator entry and a 1-acre green space called Uptown Park.

The community’s sales and design gallery at 4440 Von Karman Ave, Suite 240, in Newport Beach opens for private appointments beginning Oct. 4.

  • The 11-floor, 253 suites Costa Mesa Marriott has completed a multi-million-dollar renovation that updated its suites and amenities, including the M Club for the hotel’s Bonvoy members. (Courtesy of Costa Mesa Marriott)

  • The Costa Mesa Marriott has completed a multi-million-dollar renovation that updated its suites and amenities, including the M Club for the hotel’s Bonvoy members. A redesigned lobby will showcase works by local artists. The new aMuse bar and restaurant will serve American cuisine for breakfast, dinner and happy hour daily. The 11-floor hotel has 253 suites. (Courrtesy of Costa Mesa Marriott)

  • The Costa Mesa Marriott has completed a multi-million-dollar renovation that updated its suites and amenities, including the M Club for the hotel’s Bonvoy members. A redesigned lobby will showcase works by local artists. The new aMuse bar and restaurant will serve American cuisine for breakfast, dinner and happy hour daily. The 11-floor hotel has 253 suites. (Courrtesy of Costa Mesa Marriott)

  • The Costa Mesa Marriott has completed a multi-million-dollar renovation that updated its suites and amenities, including the M Club for the hotel’s Bonvoy members. A redesigned lobby will showcase works by local artists. The new aMuse bar and restaurant will serve American cuisine for breakfast, dinner and happy hour daily. The 11-floor hotel has 253 suites. (Courrtesy of Costa Mesa Marriott)

  • The Costa Mesa Marriott has completed a multi-million-dollar renovation that updated its suites and amenities, including the M Club for the hotel’s Bonvoy members. A redesigned lobby will showcase works by local artists. The new aMuse bar and restaurant will serve American cuisine for breakfast, dinner and happy hour daily. The 11-floor hotel has 253 suites. (Courrtesy of Costa Mesa Marriott)

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Hotel renovation complete

The Costa Mesa Marriott has completed a multi-million-dollar renovation that updated its suites and amenities, including the M Club for the hotel’s Bonvoy members.

A redesigned lobby will showcase works by local artists. The new aMuse bar and restaurant will serve American cuisine for breakfast, dinner and happy hour daily.

The 11-floor hotel has 253 suites that feature two flat-screen televisions, a desk and chair, full-sized sleeper sofa, mini-refrigerator, and bathrooms that convert from bathtubs to showers.

The pool area also got a facelift, including a new pool bar and deck. An outdoor gazebo is available for weddings with up to 120 guests.

  • LPA Design Studios recently completed its work on the Irvine headquarters for the marketing firm Traffik. The two-story, 22,000-square-foot workplace was designed with a “hospitality” vibe, the firm said. The entry and reception area, LPA said, “are meant to feel like a hip, urban hotel, with a check-in concierge, lounge waiting area and luggage carts.” To inspire collaboration, the space includes a barbershop design, including vintage barber chairs. (Courtesy of LPA Design Studios)

  • LPA Design Studios recently completed its work on the Irvine headquarters for the marketing firm Traffik. The two-story, 22,000-square-foot workplace was designed with a “hospitality” vibe, the firm said. The entry and reception area, LPA said, “are meant to feel like a hip, urban hotel, with a check-in concierge, lounge waiting area and luggage carts.” To inspire collaboration, the space includes a barbershop design, including vintage barber chairs. (Courtesy of LPA Design Studios)

  • LPA Design Studios recently completed its work on the Irvine headquarters for the marketing firm Traffik. The two-story, 22,000-square-foot workplace was designed with a “hospitality” vibe, the firm said. The entry and reception area, LPA said, “are meant to feel like a hip, urban hotel, with a check-in concierge, lounge waiting area and luggage carts.” To inspire collaboration, the space includes a barbershop design, including vintage barber chairs. (Courtesy of LPA Design Studios)

  • LPA Design Studios recently completed its work on the Irvine headquarters for the marketing firm Traffik. The two-story, 22,000-square-foot workplace was designed with a “hospitality” vibe, the firm said. The entry and reception area, LPA said, “are meant to feel like a hip, urban hotel, with a check-in concierge, lounge waiting area and luggage carts.” To inspire collaboration, the space includes a barbershop design, including vintage barber chairs. (Courtesy of LPA Design Studios)

  • LPA Design Studios recently completed its work on the Irvine headquarters for the marketing firm Traffik. The two-story, 22,000-square-foot workplace was designed with a “hospitality” vibe, the firm said. The entry and reception area, LPA said, “are meant to feel like a hip, urban hotel, with a check-in concierge, lounge waiting area and luggage carts.” To inspire collaboration, the space includes a barbershop design, including vintage barber chairs. (Courtesy of LPA Design Studios)

  • LPA Design Studios recently completed its work on the Irvine headquarters for the marketing firm Traffik. The two-story, 22,000-square-foot workplace was designed with a “hospitality” vibe, the firm said. The entry and reception area, LPA said, “are meant to feel like a hip, urban hotel, with a check-in concierge, lounge waiting area and luggage carts.” To inspire collaboration, the space includes a barbershop design, including vintage barber chairs. (Courtesy of LPA Design Studios)

  • LPA Design Studios recently completed its work on the Irvine headquarters for the marketing firm Traffik. The two-story, 22,000-square-foot workplace was designed with a “hospitality” vibe, the firm said. The entry and reception area, LPA said, “are meant to feel like a hip, urban hotel, with a check-in concierge, lounge waiting area and luggage carts.” To inspire collaboration, the space includes a barbershop design, including vintage barber chairs. (Courtesy of LPA Design Studios)

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HQ design complete for Traffik

LPA Design Studios recently completed work on the Irvine headquarters for the marketing firm Traffik.

The two-story, 22,000-square-foot workplace is part of an outdoor shopping center. LPA designed the space with something of a “hospitality” vibe, the firm said. A glass-enclosed podcast studio and main conference room are part of the workspace. The entry and reception area, LPA said, “are meant to feel like a hip, urban hotel, with a check-in concierge, lounge waiting area and luggage carts.”

“Traffik wanted to bring back the ambiance of an old-school advertising agency,” LPA said in a statement. The design emphasized simple metal frames, brick, wood floors and leather furniture.

To inspire collaboration, the space includes a barbershop design, including vintage barber chairs.

“Our goal with Traffik was to create an interactive design that informs the way the user thinks, socializes, works and collaborates,” said Rick D’Amato, workplace design director at LPA.

LPA Design Studios recently completed its work on the Irvine headquarters for the marketing firm Traffik. The two-story, 22,000-square-foot workplace was designed with a “hospitality” vibe, the firm said. The entry and reception area, LPA said, “are meant to feel like a hip, urban hotel, with a check-in concierge, lounge waiting area and luggage carts.” To inspire collaboration, the space includes a barbershop design, including vintage barber chairs. (Courtesy of LPA Design Studios)

New tenants for South Coast Metro

South Coast Metro’s Harbor Gateway Business Center in Costa Mesa has leased more than 209,000 square feet during the pandemic.

Tenants include:

Mission Critical Electronics,a clean-energy firm, leased 51,900 square feet. Z Supply LLC, a women’s casual-wear clothing company, leased 24,021 square feet. L Space, a swim and lifestyle apparel brand leased 16,142 square feet. All were represented by Steve Card and Chris O’Connor of Savills.

NationsBenefits, a provider in supplemental benefit solutions, leased 40,744 sq. ft. and was represented by Ryan Nunes and Rustin Mork of JLL.

Stack’s Bowers Galleries, a rare coin auction house, leased 23,793 square feet and was represented by Peter Joyce and Brett Kluewer of Stream Realty.

KONE, in the elevator and escalator industry, leased 21,517 square feet and was represented by Steve Wagner of JLL.

Geosyntec Consultants, a consulting and engineering firm, leased 14,916 square feet and was represented by Mike Lewis of Hughes Marino.

AccuMedical, a provider of healthcare products, leased 8,007 square feet and was represented by Matt Peters of Voit Commercial.

Komputer King, a web hosting company, leased 4,650 square feet and was represented by Gary Chen and Gaylyn Barnes of Barnes CRE Group/KW Commercial.

Visible Intellect, building automation and commercial surveillance systems, leased 3,512 square feet.

  • Blair Ruffner has been appointed senior development manager at Shopoff Realty Investments in Irvine. (Courtesy of Shopoff Realty Investments)

  • Kate Lyle has been promoted to director of industrial cold and food in Ware Malcomb’s Irvine headquarters. (Courtesy of Ware Malcomb)

  • Chad Neubecker is the new executive vice president and director of real estate lending at Irvine-based Sunwest Bank, a privately held business bank serving the Western U.S. (Courtesy of Sunwest Bank)

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People in real estate

Blair Ruffner has been appointed senior development manager at Shopoff Realty Investments in Irvine. He is responsible for managing entitlement and land development projects from acquisition through entitlement approvals. He will also provide input on predevelopment and entitlement budgets, financial models and land development pro-forma models. Ruffner has 15 years of experience in real estate development and previously spent time as senior development manager at JPI, a developer, builder and investment manager.

Kate Lyle has been promoted to director of industrial cold and food in Ware Malcomb’s Irvine headquarters. She joined Ware Malcomb in 2019 as senior project architect and was promoted to studio manager of Industrial Cold & Food in 2020. As director, Lyle will lead the design firm’s growth in its Industrial Cold & Food Studio across North America. Lyle is a licensed architect with 16 years of experience and specializes in cold storage, food processing and manufacturing.

Chad Neubecker is the new executive vice president and director of real estate lending at Irvine-based Sunwest Bank, a privately held business bank serving the Western U.S. He is responsible for leading the commercial real estate lending teams focusing on investors, developers, private equity firms and real estate investment trusts in the bank’s footprint of California, Arizona, Utah, and Idaho. Neubecker will oversee financing for office, industrial, retail, multi-family, and self-storage, in addition to Sunwest Bank’s specialty financing lines including hotel and manufactured housing.

Real estate transactions, leases and new projects, industry hires, new ventures and upcoming events are compiled from press releases by contributing writer Karen Levin. Submit items and high-resolution photos via email to Business Editor Samantha Gowen at sgowen@scng.com. Please allow at least a week for publication. All items are subject to editing for clarity and length.

Haitians see history of racist policies in migrant treatment

By AARON MORRISON, ASTRID GALVAN and JASEN LO

The images — men on horseback with long reins, corralling Haitian asylum seekers trying to cross into the U.S. from Mexico — provoked an outcry. But to many Haitians and Black Americans, they’re merely confirmation of a deeply held belief:

U.S. immigration policies, they say, are and have long been anti-Black.

The Border Patrol’s treatment of Haitian migrants, they say, is just the latest in a long history of discriminatory U.S. policies and of indignities faced by Black people, sparking new anger among Haitian Americans, Black immigrant advocates and civil rights leaders.

They point to immigration data that indicate Haitians and other Black migrants routinely face structural barriers to legally entering or living in the U.S. — and often endure disproportionate contact with the American criminal legal system that can jeopardize their residency or hasten their deportation.

Haitians, in particular, are granted asylum at the lowest rate of any nationality with consistently high numbers of asylum seekers, according to an analysis of data by The Associated Press.

“Black immigrants live at the intersection of race and immigration and, for too long, have fallen through the cracks of red tape and legal loopholes,” said Yoliswa Cele, director of narrative and media at the UndocuBlack Network, a national advocacy organization for currently and formerly undocumented Black people.

“Now through the videos capturing the abuses on Haitians at the border, the world has now seen for itself that all migrants seeking a better tomorrow aren’t treated equal when skin color is involved.”

Between 2018 and 2021, only 4.62% of Haitian asylum seekers were granted asylum by the U.S. — the lowest rate among 84 groups for whom data is available. Asylum seekers from the Dominican Republic, which shares the island of Hispaniola with Haiti, have a similarly low rate of 5.11%.

By comparison, four of the five top U.S. asylum applicants are from Latin American countries — El Salvador, Guatemala, Mexico and Honduras. Their acceptance rates range from 6.21% to 14.12%.

Nicole Phillips, legal director for the Haitian Bridge Alliance, said racism has long driven the American government’s treatment of Haitian immigrants.

Phillips, whose organization is on the ground helping Haitians in Texas, says this dates back to the early 1800s, when Haitian slaves revolted and gained independence from France, and has continued through decades of U.S. intervention and occupation in the small island nation.

She said the U.S., threatened by the possibility of its own slaves revolting, both assisted the French and didn’t recognize Haitian independence for nearly six decades. The U.S. also loaned money to Haiti so that it could, in essence, buy its independence, collecting interest payments while plunging the country into poverty for decades.

“This mentality and stigma against Haitians stems all the way back to that period,” Phillips said.

The U.S. violently occupied Haiti from 1915 to 1934 and backed former Haiti dictator Francois Duvalier, whose oppressive regime resulted in 30,000 deaths and drove thousands to flee.

While the U.S. long treated Cubans with compassion — largely because of opposition to the Communist regime — the administrations of George H.W. Bush and Bill Clinton took a hard line on Haitians. And the Trump administration ended Temporary Protected Status for several nationalities, including Haitians and Central Americans.

Over and over, the U.S. has passed immigration legislation that excluded Black immigrants and Haitians, and promoted policies that unfairly jeopardized their legal status in the country, advocates said.

When they manage to enter the U.S., Black immigrants say they contend with systemic racism in the American criminal legal system and brutality of U.S. policing that has been endemic for people from across the African diaspora.

The Black Alliance for Just Immigration, a national racial justice and immigrant rights group, largely defines Black immigrants as people from nations in Africa and the Caribbean. By that definition, AP’s analysis of 2019 Department of Homeland Security data found 66% of Black immigrants deported from the U.S were removed based on criminal grounds, as opposed to 43% of all immigrants.

Nana Gyamfi, BAJI’s executive director, said crimes of moral turpitude, including petty theft or turnstile jumping, have been used as partial justification for denying Black immigrants legal status. “We have people getting deported because of train fare,” she said.

Leaders within the Movement for Black Lives, a national coalition of Black-led racial justice and civil rights organizations, have pointed to the treatment of Haitians at the border as justification for their broader demands for defunding law enforcement agencies in the U.S.

Last year, following the police killing of George Floyd, the coalition proposed sweeping federal legislation known as the BREATHE Act, which includes calls to end immigration detention, stop deportations due to contact with the criminal legal system, and ensure due process within the immigration court system.

“A lot of times in the immigration debate, Black people are erased and Black immigrants are erased from the conversation,” said Amara Enyia, a policy researcher for the Movement for Black Lives.

Ahead of a Thursday tour of the migrant encampment in Texas, civil rights leaders called for an investigation into the treatment of Black migrants at the border and for an immediate end to the deportation of Black asylum seekers.

The camp is “a catastrophic and human disgrace,” the Rev. Al Sharpton said after an hourlong tour with several Black American leaders in Del Rio. “We will keep coming back, as long as is necessary.”

At the border and in Port-au-Prince, Haiti, where hundreds had already been sent on flights from the U.S., Haitians said there was no doubt that race played a major part in their mistreatment.

“They are grabbing people, they bother us, especially Haitians because they identify us by skin,” said Jean Claudio Charles who, with his wife and year-old son, had been staying in an encampment on the Mexico side near Texas out of fear of arrest and deportation to Haiti.

Claude Magnolie, a Haitian citizen removed from the U.S. this week, said he didn’t see Border Patrol agents treating migrants of other nationalities the way he and others were treated: “This is discrimination, that is how I call it, they are treating us very badly.”

And in Miami, immigrant rights advocate Francesca Menes couldn’t believe her eyes as she watched images of the asylum seekers being corralled by men on horseback.

“My family is under that bridge,” Menes said, referring to a cousin, his wife and their newborn who recently met up in a small border town in Texas. It took Menes’ cousin two months to make the trek from Chile, where he had been living with his brothers for three years to escape Haiti’s political tumult, violence and devastation.

“It made me sick,” Menes said. “This didn’t happen with unaccompanied minors. You didn’t see people riding on horseback, basically herding people like they were cattle, like they were animals.”

Menes’ outrage has only grown, as have her fears for her family. When she overheard her mother on the phone with family members this week, Menes said she wanted nothing more than to tell them to return to Chile.

“We’ve actually tried to discourage our families,” she said. “People are looking for a better life. And we try to kind of ground our families: Do you know what it means to be Black in America?”

____

AP staffers Maria Verza in Ciudad Acuña, Mexico, Pierre Luxama in Port-au-Prince, Haiti and Elliot Spagat in San Diego contributed. Lo reported from Chicago. Morrison reported from New York City. Galvan reported from Phoenix. Morrison and Galvan are members of the AP’s Race and Ethnicity team. Follow Galvan on Twitter: https://twitter.com/astridgalvan. Follow Morrison on Twitter: https://twitter.com/aaronlmorrison.

Household net worth in U.S. hits record on surging home values

Household net worth increased by $5.8 trillion, or 4.3%, to $141.7 trillion in the second quarter, a Federal Reserve report out Thursday showed. (iStockphoto)

By Reade Pickert | Bloomberg

U.S. household net worth surged to a fresh record in the second quarter as Americans enjoyed an ebullient stock market and the largest-ever increase in the value of their real estate holdings.

Household net worth increased by $5.8 trillion, or 4.3%, to $141.7 trillion in the second quarter, a Federal Reserve report out Thursday showed. The advance included a $3.5 trillion gain in the value of equities and a $1.2 trillion improvement in real estate held by households.

Stocks have surged to record highs, and low borrowing costs have supported a flurry of home buying — and ultimately home price appreciation. The figures highlight how the massive support provided by the government and the Fed has bolstered Americans’ wealth.

Equity shares as a percent of total household assets rose in the second quarter to almost 29.5%, up from 25.6% in 2019, the Fed’s report showed.

But not everyone is benefiting from those wealth gains. A large share of Americans are not invested in the stock market, and for many renters, the sharp rise in housing prices pushed the reality of owning a home further out of reach.

Net private savings grew at an annualized pace of almost $2.9 trillion in the second quarter after a $4.8 trillion surge in the prior quarter — a product of federal stimulus efforts. Excess savings have been a key driver of consumer spending, including last quarter, where consumer outlays jumped at one of the fastest paces on record.

Business debt outstanding increased by $63.2 billion from the prior quarter, or at an 1.4% annualized rate, in the April to June period to a total of nearly $18 trillion.

Federal debt outstanding increased $578.8 billion, or an annualized 9.6%, to $24.7 trillion. Government debt has swelled during the pandemic, as policy makers stepped in to ease the economic impact of the health crisis on people and businesses with trillions of dollars of support.

The government is currently on track to default on its financial obligations without congressional approval to raise the statutory limit on U.S. debt.Consumer credit outstanding not including mortgage debt rose by $91.2 billion in the second quarter.

US implores Iran to return to nuke talks without delay

By MATTHEW LEE

NEW YORK (AP) — The Biden administration is imploring Iran to quickly return to talks on its nuclear program after a three-month hiatus caused by its government transition, warning that the window for negotiations may soon close.

Secretary of State Antony Blinken and a senior administration official said Thursday that U.S. patience is wearing thin and that further delays while Iran continues to expand its atomic capabilities could lead Washington and its partners to conclude a return to the landmark 2015 nuclear deal is no longer worthwhile.

“We don’t have yet an agreement by Iran to return to the talks in Vienna,” Blinken said. “We are very much prepared to return to Vienna and continue the talks. The question is whether, and if so when, Iran is prepared to do that.”

Blinken and the senior official, who briefed reporters on condition that he not be identified by name, spoke as diplomats from the remaining parties to the agreement have been meeting Iran’s foreign minister on the sidelines of the annual U.N. General Assembly to gauge Tehran’s willingness to return to the talks.

While Iran has said it is ready to rejoin the talks, it has not yet offered a date for a resumption, named a negotiating team or indicated that it is willing to pick up where the negotiations left off in June, according to the officials.

In discussions with representatives from the remaining parties to the deal — Britain, France, Germany, Russia, China and the European Union — the officials said all of them had agreed on the importance of resuming the talks as soon as possible.

If the talks don’t resume, the officials said the U.S. would at some point determine that Iran was no longer interested in the benefits that the accord offered or that its recent technological advances could not be undone by the limits it imposed.

“The possibility of getting back to mutual compliance is not indefinite,” Blinken said. “And the challenge right now is that with every passing day, as Iran continues to take actions that are not in compliance with the agreement … we will get to a point at some point in the future at which simply returning to mutual compliance with the JCPOA will not recapture the benefits.”

The UN’s atomic watchdog has said Iran is increasingly in violation of the deal, known as the Joint Comprehensive Plan of Action or JCPOA, which former President Donald Trump withdrew the U.S. from in 2018. The U.S. has participated indirectly in the Vienna talks, which were aimed at bringing both Washington and Tehran back into compliance with the deal.

The EU’s top diplomat, Josep Borrell, met Tuesday with Iran’s new foreign minister, who reiterated Tehran’s “willingness to resume negotiations at an early date,” the EU said. Borrell then met Wednesday with Blinken.

Borrell stressed “the need for full cooperation” from Iran and reiterated his concern about the overall trajectory of the Iranian nuclear program,” the EU statement said.

The last round of talks in Vienna ended in June, ahead of Iran’s elections that boosted the ranks of hard-liners. There had been speculation that the remaining parties to the deal would meet on the sidelines of this week’s U.N. General Assembly. But the U.S. official said Iran had declined the opportunity to meet.

4 signs that buying a home now could sow regret

By Elizabeth Renter | Nerdwallet

It’s a tough time to be a homebuying hopeful. Sellers rule this market, and potential buyers are battling with one another over a high-priced handful of homes. Buying a home is a weighty, long-term decision, and buying right now could lead to long-term regrets.

Roughly two-thirds (67%) of Americans who recently purchased their home say they have regrets, according to an August NerdWallet survey conducted online by The Harris Poll among 450 homeowners who bought their home in the past five years.

There are many reasons a buyer might regret their home purchase or aspects of it. And in 2021, even more than in the past five years as a whole, the risk of buyer’s remorse is high. The heavily tilted seller’s market means most buyers are making sacrifices in order to successfully close on a home. Understanding the risks inherent in buying now can help either avoid future regrets or postpone the purchase until the stakes are lower.

Here are four potential regret traps of the current market and how to guard against them.

1. Rushing decisions in a frenetic real estate market

Homebuying shouldn’t be rushed. But buying a house now is a frantic endeavor. Buyers are seeing homes hit the market and go under contract before they can even schedule a showing. Over the past five years, homes have typically been on the market for 41 days. As of July 2021, they’re available for 18 days, according to data from real estate brokerage Redfin, which measures days on market as the time between a home being listed and it moving to pending or off-market. The speed at which homes enter and exit the market has been accelerating since June 2020.

Regret-busting tip: Potential buyers must act fast, but when the pressure is on to move quickly in a decision as weighty as homebuying, you need a game plan. Before jumping into the market, organize your budget and your wish list. Get specific: Know which features you’re willing to compromise on and what’s out of bounds in regards to sales price. Making decisions such as “Do we really need a third bedroom?” or “Can we afford another $50,000?” on the fly is risky, at best. Know how you’ll answer those questions before you begin.

2. Sacrificing big just to snap up something

The supply of homes being offered for sale is paltry, so buyers are unlikely to find one that satisfies their wish list. Being flexible is a must in this market, but sacrificing too much could leave you with a home that’s a far cry from the one you envisioned.

The number of homes on the market has fallen by about 55% from September 2019, when it last peaked, according to residential listing data from Realtor.com. In March and April this year, inventory fell below half a million active listings after a three-year average of 1.3 million from 2017 through the end of 2019.

Regret-busting tip: What’s more important to you: buying a home or buying a home that checks off most items on your wish list? If the former, you may be successful in this market. However, if you have your heart set on a specific home type in a specific neighborhood, you may want to wait until there are more listings to choose from.

3. Competing with a win-at-all-costs attitude

Competition is brutal for the limited number of homes, and sellers are fielding multiple attractive offers. The average number of offers on sold homes peaked at just over 5 in April this year, and while it has fallen back down to 4.5, that’s still two more offers than homeowners typically saw in the pre-pandemic market, according to data from the National Association of Realtors.

Waiving contingencies, upping their offer price, writing love letters to sellers — buyers are having to work harder than ever to make their offer stand out from the rest. And even when they do all these things, they may be up against an unusual number of potential buyers making all-cash offers.

When pitted against an all-cash offer for asking price or above, buyers who must borrow might try to entice the seller by taking dangerous risks, like forgoing a home inspection. But 10% of homeowners who have purchased in the past five years regret not getting a pre-purchase home inspection, and 13% of these recent buyers say they regret discovering their home had significant problems in need of repair, according to the new NerdWallet survey.

Regret-busting tip: Winning isn’t everything. Don’t let the competition pressure you into forgoing important protections or going over budget. Know before you make an offer how far you’re willing to take it. Make an agreement with yourself, your partner or your real estate agent that you’ll be willing to walk away at a certain threshold — whether it’s a dollar amount in a bidding war or problems uncovered at inspection — and then get used to the idea that you may have to walk away from several homes before you ultimately close on one.

4. Stretching the budget to the breaking point

While low mortgage rates save buyers considerably over the life of a home loan, they can’t always make up for a too-high sales price. Hot competition on a limited supply is propelling prices up, which is bound to push some buyers past a reasonable budget.

Five years ago, in July 2016, homes were selling for $245,100, or $278,100 in today’s dollars, according to data from the National Association of Realtors. Now, the typical sales price is $360,000, nearly $82,000 more. Incomes have not kept up.

What this means is a buyer’s money won’t go as far today. Add to that the ongoing costs of homeownership, and it’s clear how quickly home buyers can get in over their heads.

Regret-busting tip: Your money won’t go as far in the current high-priced market, and that’s important to understand before you begin house hunting. But don’t let sticker shock distract you from other cost considerations. Mortgage payments (including interest and taxes), homeowners insurance, homeowners association dues and repair and maintenance expenses all play into the total cost of homeownership — and 15% of homeowners who purchased within the past five years say they regret underestimating these costs, according to the survey. When settling on a budget for the purchase price of your new home, factor in ongoing homeownership costs so you’re not caught off guard once you’ve moved in. Struggling to keep up with these persistent financial obligations can stifle the initial joy of your new purchase.

Survey methodology and additional graphic available in the original article, published at NerdWallet.

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Elizabeth Renter writes for NerdWallet. Email: elizabeth@nerdwallet.com.