Newport Beach Real Estate » Newport Beach Sales

Newport Beach Real Estate Sales as of August 20th 2009

RWTNB — Thu, 20 Aug 2009 16:44:13 +0000

Newport Beach Real Estate Housing Prices

View homes or sale in Newport Beach. Here are some popular areas that you may want to explore:

Balboa Island Neighborhood in Newport Beach Ca Real Estate Balboa Island Neighborhood in Newport Beach Ca Real Estate...
229 Carnation Ave Corona Del Mar CA 92625 – Real Estate – Spyglass 6 beds, 3 full 1 part bathsHome Size: 3,069 sq...
400 Jasmine Ave, Corona Del Mar CA, 92625 – Real Estate – Spyglass Neighborhood 5 beds, 4 bathsHome Size: 2,650 sq ftLot Size: 4,602...

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Newport Beach Home Sales Report

RWTNB — Thu, 16 Apr 2009 06:16:45 +0000

Newport Beach Ca Homes Sales Report – March 2009 citywide of all homes for sale in Newport Beach.

21 homes sold in Newport Beach
Average price was $1,409,797
Average price per square foot was $606.63
Average days on market was 113 days before the seller’s accepted an offer on their homes

Newport Beach Real Estate Sales as of August 20th 2009 Newport Beach Real Estate Housing Prices View homes or...
$9,500,000 :: 2619-2623 Cove, Corona Del Mar CA, 92625 3 beds, 3 bathsHome size: 0 sq ftLot Size: 0...
$7,600,000 :: 2619-2623 Cove, Corona Del Mar CA, 92625 7 beds, 4 bathsHome size: 0 sq ftLot Size: 0...

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What is a “Short Sale” or Pre-Foreclosure?

RWTNB — Wed, 25 Feb 2009 05:54:39 +0000

A “Short Sale” means that the owner owes more than the home is listed for and is trying to sell it short of what they owe. The lender who holds the mortgage would have to approve the lower amount in order for the sale to go through. In addition to that, the seller would have to provide the lender documents proving that they have suffered a financial hardship.

The process can take up to 3 months or as long as 6 months from the time an offer is submitted to a decision is made on a property by the bank…occasionally it is less time. It just depends on the bank. Some banks are offering the seller the option to have their loan modified instead of selling it short. The risk for the buyer who makes in an offer is that if escrow was opened on the purchase and the buyer has incurred costs like an appraisal or home inspection and the seller chooses to modify their loan with the bank, then the seller may want to cancel. That may raise legal issues.

To summarize:

Short sales can take up to 3 months or as long as six months to close escrow, so you need a lot of patience.
Some banks are willing to grant the seller a short sale and some are not
The seller may decide to accept the loan modification from their bank

$1,400,000 :: 127 25th, Newport Beach CA, 92663 2 beds, 1 bathHome size: 880 sq ftLot Size: 1,750...

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