Newport Beach REO home buyers usually face the challenge of competing with multiple offers on the properties. Also, Newport Beach REO home buyers are competing with cash buyers as well.
Newport Beach has an inventory of bank owned homes or REO. Currently there are 15 active listings in all of Newport Beach, there are three in pending, and there have been three Newport Beach bank owned sales in June, 2011. The number of sales is up from the same period last year. In June, 2010, there were six sales in July, 2011. During the same time period last year, there were four REO sold properties in Newport Beach in July, 2010.
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