Newport Coast Overview Median home price is $1,406,000. Based on a rental parity value of $971,000, this market is over valued. Monthly payment affordability has been worsening over the last 3 month(s). Momentum suggests worsening affordability. Resale prices on a $/SF basis increased to $545/SF to $579/SF. Resale prices have been rising for 1 month(s). Price momentum suggests unchanging prices over the next three months. Median rental rates declined $666 last month from $4,766 to $4,100. Rents have been rising [Read More...]
NEWPORT COAST
Newport Coast is being crushed by REOs. This property is discounted more than 30% from its peak purchase price, and the bank still can’t find a buyer. With more than 120 days on the market, more price reductions are on the way. – —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- [Read More...]
This Newport Coast property was purchased by a Ponzi in 2004 for $1.35M. The bank bought it back for $2M. The mortgage equity withdrawal must have been staggering. The bank is looking at a $500,000 loss. Houses priced over $1M are facing major pricing pressure from REOs like this one. ——————————————————————– This property is available for sale via the MLS. Please contact Shevy Akason, #01836707 949.769.1599…… sales@ochousingnews.com….. —— —- —- —- —- —- —- —- —- —- —- —- —- [Read More...]




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