The Newport Beach real estate market has both foreclosures, and short sales for sale . The definition of a short sale is when a bank or lien holder lender agrees to accept a discounted payoff on a loan balance as a result of  either economic or a financial hardship on the part of the mortgagor.
There are more short sales for sale in the Newport Beach area than foreclosures. In November, there are five active REO listings in Newport Beach. The short sale market in the Newport Beach area has many variables. There are both back up and pending status, and some of these short sales may not get approved by the lenders. If that is the case, then the property may go back to the bank.
There are factors which influence Newport Beach short sales and some of the considerations are as follows:
1. Actual hardship
2. Lien(s) on the property
3. Back HOA dues
4. Back property taxes
In Newport Beach, there are currently 45 active listings, 28 in back up, 10 pending, and there have been three sales during the month of the November.
Listings are the same from October, 2011
Back Up is down -6 from October, 2011
Pending is down -3 from October, 2011
Sold listings are down -6 from October, 2011
The absorption rate is for one month is generally not a trend, as it shows a fairly high absorption rate.
Search the MLS for Newport Beach Short Sales for sale, and Newport Beach homes for sale.
Showing properties
1 - 50 of 77.
See more Newport Beach Short Sales.
(all data current as of
5/17/2012)
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$675,000 : 2361 Azure Ave, Newport Beach3 beds, 1 full bath
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$599,000 : 2708 Hilltop Drive #52, Newport Beach3 beds, 2 full, 1 part baths
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$470,000 : 3226 Broad St 2, Newport Beach2 beds, 2 full, 1 part baths
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$1,749,000 : 11 Crooked Stick DR, Newport Beach4 beds, 4 full baths
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$459,000 : 455 Vista Roma, Newport Beach3 beds, 1 full, 2 part baths
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$605,000 : 334 Vista Madera, Newport Beach3 beds, 3 full, 1 part baths
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$3,895,000 : 1236 Somerset Ln, Newport Beach5 beds, 3 full, 4 part baths
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$849,000 : 419 Harding St, Newport Beach3 beds, 2 full, 1 part baths
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$1,590,000 : 1039 Granville Dr, Newport Beach2 beds, 2 full baths
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$639,000 : 464 Gaviota, Newport Beach3 beds, 3 full baths
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$799,000 : 115 38th St, Newport Beach3 beds, 2 full baths
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$995,000 : 2415 Sierra Vis, Newport Beach3 beds, 2 full, 1 part baths
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$210,000 : 100 Scholz Plz 211, Newport Beach1 bed, 1 full bath
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$1,950,000 : 441 Seville AVE, Newport Beach5 beds, 7 full baths
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$3,000,000 : 9 Crestwood, Newport Beach5 beds, 5 full, 2 part baths
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$799,000 : 511.5 35th St, Newport Beach3 beds, 3 full, 1 part baths
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$329,000 : 102 Corsica DR, Newport Beach2 beds, 1 full, 1 part baths
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$535,000 : 2005 Baja, Newport Beach3 beds, 2 full baths
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$1,199,000 : 208 Tustin AVE, Newport Beach3 beds, 2 full baths
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$1,395,000 : 119 Via Zurich, Newport Beach3 beds, 2 full baths
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$595,000 : 611 Lido Park Dr 2E, Newport Beach1 bed, 1 full bath
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$999,000 : 1710 Port Barmouth Pl, Newport Beach3 beds, 2 full baths
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$1,300,000 : 334 L ST, Newport Beach4 beds, 2 full, 1 part baths
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$750,000 : 210 40th st St, Newport Beach2 beds, 1 full bath
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$2,189,000 : 126 via xanthe, Newport Beach4 beds, 4 full, 1 part baths
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$575,000 : 206 43rd St 2, Newport Beach3 beds, 2 full baths
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$239,000 : 1100 RUTLAND Rd 12, Newport Beach1 bed, 1 full bath
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$445,000 : 40 Villa Point Dr, Newport Beach2 beds, 2 full baths
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$1,950,000 : 2182 Mesa Dr, Newport Beach7 beds, 2 full, 1 part baths
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$1,549,000 : 9 Singletree DR, Newport Beach3 beds, 2 full, 1 part baths
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$950,000 : 1822 W Balboa Blvd, Newport Beach2 beds, 1 full, 2 part baths
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$1,895,000 : 105 E balboa, Newport Beach3 beds, 1 full, 3 part baths
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$679,000 : 2754 Hillview Dr 24, Newport Beach3 beds, 2 full, 1 part baths
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$269,000 : 17 Latitude Ct 13, Newport Beach3 beds, 1 full, 2 part baths
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$303,250 : 308 Villa Point Dr, Newport Beach1 bed, 1 full bath
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$1,325,000 : 2020 Marlin Way, Newport Beach5 beds, 3 full, 1 part baths
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$529,000 : 15 ROBON # 14, Newport Beach3 beds, 2 full, 1 part baths
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$435,000 : 376 VILLA POINT Drive, Newport Beach2 beds, 2 full baths
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$2,550,000 : 59 Linda Isle, Newport Beach5 beds, 4 full, 1 part baths
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$489,000 : 20 Escapade Ct 279, Newport Beach2 beds, 2 full, 1 part baths
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$375,000 : 880 Halyard #10, Newport Beach2 beds, 2 full, 1 part baths
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$397,000 : 64 Sea Island Dr, Newport Beach2 beds, 2 full baths
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$850,000 : 415 Vista Flora, Newport Beach3 beds, 1 full, 2 part baths
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$350,000 : 1002 Buckingham Ln 14, Newport Beach2 beds, 2 full baths
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$1,395,000 : 2904 Broad ST, Newport Beach6 beds, 4 full baths
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$624,900 : 501 Vista Grande, Newport Beach3 beds, 2 full baths
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$2,675,000 : 103 Linda Isle, Newport Beach3 beds, 2 full, 1 part baths
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$499,000 : 15 Tribute Ct 299, Newport Beach4 beds, 2 full, 1 part baths
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$1,150,000 : 1425 Sea Ridge Dr, Newport Beach3 beds, 2 full, 1 part baths
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$415,000 : 8 Sea Island Dr, Newport Beach3 beds, 2 full, 1 part baths
Listing information deemed reliable but not guaranteed. Read full disclaimer.
{ 2 comments… read them below or add one }
Great information for the Newport Beach market, Sharon. I did one of my town’s reo+ short sale report last night….looks like things are getting better!
Leslie Ebersole recently posted..Comment on Batavia IL Market Update | Single Family Homes | December 1 2011 by Sharon Paxson
Hi Leslie – yes still a lot of short sales, but REO’s have declined.
Sharon Paxson recently posted..Newport Beach Short Sale Market Update | November, 2011