;

Newport Beach Short Sale Market Update | July, 2012

Newport Beach Short Sale Market Update | July, 2012

Newport Beach Short Sale Market Report | Update on Short Sales in Newport Beach

The Newport Beach real estate market has been experiencing short sales and foreclosures. The definition of a short sale is when a bank or lien holder agrees to accept a discounted payoff on a loan balance as a result of either economic or financial hardship on the part of the mortgagor.

The  banks or lenders want fair market value for the property and will attempt to obtain the the fair market value of the property.  A bank or lender may request more than one BPO (broker price opinion) and obtain independent appraisals.

Lido Island in Newport Beach

Currently there are 12 active listings, 34 in back up status, 20 pending and there were 12 sales in July, 2012.

Active listings are down -5 since June, 2012
Back Up is up +5 since June, 2012
Pending sales are down -2 since June, 2012
Sales are down -3 since June, 2012

There is a low absorption rate for short sales in Newport Beach.

Absorption Rate, July, 2012
Newport Beach Short Sale Market Update
Information Deemed Reliable but not GuaranteedCourtesy of www.NewportBeachRealEstateCafe.comInfo taken from CRMLS

Do Not Use Without Permission

 OneMonth ThreeMonths SixMonths TwelveMonths
Listings 12 12 12 12
Sold 12 43 66 116
AverageSold/Mo 12 14 11 10
Month’s Inventory 1.0 .8 1.1 1.2

 

Search the MLS for Newport Beach short sales, and Newport Beach homes for sale.

Price
Beds
Baths
Save Search
Advanced Search

Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

ABOUT ME

Sharon Paxson is a full-time REALTOR® with EQTY | Forbes Global Properties and has been specializing in residential real estate throughout the Newport Beach area since 2005 assisting Buyer’s, Seller’s, Landlords, and Tenants with their real estate needs.

If you are thinking about buying, selling or renting your home, condo or other Real Estate in the following areas including Newport Beach, Newport Coast, Corona del Mar, Huntington Beach there are thousands of Realtors to choose from. However, it doesn't cost you any more to work with a top Newport Beach CA Realtor. We welcome the opportunity to show you how we get outstanding real estate results with specific and targeted marketing. If you are looking for a top real estate agent who will make a difference you have come to the right place. Use this real estate website to learn about communities and homes for sale.

REAL ESTATE BROKERAGE SERVICES

  • Newport Beach Homes for Sale/Sharon Paxson®
  • Newport Beach area buyers, sellers, renters
  • 1100 Newport Center Drive
    Newport Beach, CA 92660
  • 949-280-0681 | DRE 01501912

DISCLAIMER

DISCLAIMER: All information, photographs & content contained on this site is the property of Sharon Paxson. You must obtain written permission from Sharon Paxson if you would like to use any of this content contained herein. Opinions expressed are those of Sharon Paxson and may not necessarily be opinions of past and present brokers. Articles may be time and date sensitive. All statistical information utilized to create market reports has been obtained from the CRMLS. Information Deemed Reliable but not Guaranteed.

Copyright © 2024 Newport Beach Real Estate

Scroll to Top