Newport Beach Short Sales | Market Update | January, 2013The Newport Beach real estate market has both short sales and foreclosures. The definition of a short sale is when a lien holder or bank 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. The lenders or banks will attempt to obtain fair market value for the property. A bank or lender may request more than one BPO (broker price opinion) and obtain independent appraisals to help establish value. Currently there are 3 active listings, 14 in back up status, 11 pending and there were 5 sales in January, 2013. 3 active listings compared to 5 active listings December, 2012 - down -2 14 back up listings compared to 19 back up in December, 2012 - down -5 11 pending listings compared to 8 pending in December, 2012 - up +3 5 sold listings compared to 3 sold listings in December, 2012 - up +2 The short sale inventory and sales continue to decline monthly. There is a low absorption rate for short sales in Newport Beach. It is favoring a seller's market with approximately one month absorption rate (or less). December, 2012 November, 2012 October, 2012 September, 2012 August, 2012 July, 2012 June, 2012 May, 2012 April, 2012 March, 2012 February, 2012 January, 2012 See below for a the review of 2012 Newport Beach short sales homes sold, price per square foot and number of homes sold per month. Search the MLS for Newport Beach short sales, and Newport Beach homes for sale.
$5,188,000 : 111 Via Lido Soud, Newport Beach4 beds, 4 full, 1 half baths
$3,650,000 : 1806 E Balboa Boulevard, Newport Beach7 beds, 5 full, 1 three-quarter, 2 half baths
$1,690,000 : 3811 River Avenue, Newport Beach3 beds, 1 full, 1 three-quarter, 1 half baths
$2,800,000 : 12 Napoli, Newport Beach5 beds, 5 full, 1 half baths
See all Newport Beach Short Sale Property for Sale.
(all data current as of 12/8/2016)
Listing information deemed reliable but not guaranteed. Read full disclaimer.