A B R A M S C OA S TA L R E P O RT
A Publication by Abrams Coastal Properties
December 2010
IN T HIS ISSUE
A Letter from the
Editor
………………..Pg. 1
Market Update
………………..Pg. 1
Benjamin Update
………………..Pg. 1
Year End Review
………………..Pg. 2
Remodeled Home
………………..Pg. 3
Staged Home
………………..Pg. 3
Featured Home
………………..Pg. 4
Don A br ams
DRE NO. 01234323
Owner/Broker & Editor-in-Chief
[email protected]
Cell: 714.325.9055
A Letter From the Editor
About a year and a half ago we moved back to our
home on the Grand Canal, after a 4 year absence. I
love this home because it is so bright and cheerful
with water views in several directions. Also, I love
its vintage streamline moderne style which we have
been able to retain and enhance.
As the year was ending, we said good -bye on November 29th to
my Dad, Bernie Abrams, who was a decorated World War II Air
Force officer, a merchant retailer, and philanthropist. Dad lived
a happy and productive life to age 90, but his plan for another
10 years of life was cut short by a fast moving cancer this Fall.
He is greatly missed by all.
Living and working here on Balboa Island, I have so much to be
thankful for. Even in a challenging economy, there is nowhere I would rather be and
nothing I would rather be doing. My wife
Gwenn and I, our son Ben, and the staff at
Abrams Coastal wish you the best holiday
season ever and the happiest New Year!
Market Update
Sales were good for Abrams Coastal this year as we sold 18 homes
on the Island. 41 homes were sold total on the Island in 2010
versus 22 in 2009. Also, the inventory of homes for sale has
fallen to the low 20’s versus about 43 for the last few years! More
realistic pricing by sellers and more optimistic outlooks by buyers are the primary reasons for these positive changes.
Benjamin Update
Ben is now 3-1/2 years old and a cheerful and
positive little boy. He is enjoying many activities including pre-school 2 days a week, ball
handling skills through Newport Beach Recreation Department and riding his new bike!
315 Marine Avenue, Balboa Island, CA 92662 . Phone: 949.675.4822 . www.AbramsCoastalProperties.com
Pg. 1
Y E A R END R E V I EW
Abrams Coastal Properties’ Homes
SOLD in 2010 on Balboa Island
Location:
Listed at:
Abrams Represented
222 Onyx Avenue
$1,195,000
Buyer
230 Opal Avenue
$1,685,000
Buyer and Seller
300 Amethyst Ave.
$1,685,000
Buyer
301 Abalone Ave.
$1,695,000
Seller
115 Onyx Avenue
$1,795,000
Buyer and Seller
116 Diamond Ave.
$1,795,000
Seller
325 Marine Avenue
$1,850,000
Seller
331 Marine Avenue
$1,850,000
Seller
208 Crystal Avenue
$2,060,000
Seller
125 Pearl Avenue
$2,095,000
Seller
319 Apolena Ave.
$2,195,000
Seller
221 Opal Avenue
$2,335,000
Buyer and Seller
208 Grand Canal
$2,495,000
Buyer and Seller
106 Park Avenue
$2,695,000
Buyer and Seller
122 Pearl Avenue
$2,985,000
Seller
308 South Bayfront
$5,195,000
Buyer and Seller
1108 South Bayfront
$5,250,000
Buyer and Seller
3 Collins Island
$9,995,000
Buyer and Seller
106 Park Avenue
208 Grand Canal
1108 South Bayfront
3 Collins Island
315 Marine Avenue, Balboa Island, CA 92662 . Phone: 949.675.4822 . www.AbramsCoastalProperties.com
Pg. 2
R E M O DEL E D HOM E
Figure flaws. Many people believe they have figure flaws. Some people resort to cosmetic surgery to overcome these
flaws, while others are content to live with what they inherited. Homes also have figure flaws: an awkward corner,
small kitchen, ugly bathroom, fireplace/no fireplace, etc. Homeowners also resort to cosmetic surgery (remodeling),
which can fix nearly all flaws except a poor location.
301 Abalone, the little home on the corner of Abalone and Balboa Avenue, was much loved, but not readily saleable for two reasons. First, the asking price was too high. This was easily remedied when the owner awarded the
listing to Abrams Coastal at a lower price than the two previous listings. The bigger problem was that the home had
no outside space for sitting other than a tiny 3 foot strip across the front.
To overcome this obstacle, we had a rendering prepared that showed how a portion of the home could be removed
to build a large patio with a water view. One of the first couples who saw the home picked up the rendering, embraced the vision, bought the home, and executed our plan. The home was completely transformed as shown in the
pictures below!
Original
Rendering
Remodel
S TAG ED H O M E
The handsome Nantucket style home at 319 Apolena had two obstacles to overcome also. The previous listing had
priced the home higher than the market would accept. Once shown the comparable sales, the owners agreed to
lower the price when they listed the home with Abrams Coastal. The equally big hurdle was the furnishings, which
had a dated look, and the upstairs powder blue carpet in the home. The owners agreed to have new carpet installed
(about $3,000) along with staged furniture and furnishings (about $7,000). The change was most dramatic as shown
by the pictures below and the home sold quickly thereafter.
315 Marine Avenue, Balboa Island, CA 92662 . Phone: 949.675.4822 . www.AbramsCoastalProperties.com Pg. 3
B E AU T I F U L I S L A N D H O M E S — G R E AT VA LU E S !
3 24 S a p p hi re Ave n u e
314 A m e thy st Ave nu e
3BR, 3.5 Baths, Custom Home
Offered at $2,650,000 $2,195,000
3BR, 3.5 Baths, Brand New Custom Home
Offered at $3,195,000 $2,695,000
PRSRT STD
U.S. POSTAGE
PAID
NEWPORT BEACH, CA
PERMIT NO.315
315 Marine Ave. Balboa Island, CA 92662
PLACE ADDRESS LABEL HERE