Finding Distressed Properties For Sale In Newport Beach California

Posted by Tracey Kormushoff on Wednesday, March 28th, 2012 at 10:23am.

As the market continues to change in Newport Beach one thing is true that the deals are becoming harder to find as the bottom of the real estate market has passed us.  Local media outlets have reported that the Newport Beach Real Estate market is now on an upswing which is causing many home buyers who were on the fence to get out and start looking at properties.  Interest Mortgage rates are still low making this the perfect storm for locating a home.  Currently, the inventory of homes is at a very low point making it even more difficult to find the "good deals."  When looking for well priced homes we always recommend distressed properties.  In the last several years the common thread for most home buyers is finding the nicest home for the lowest price.  The days of wanting fixer upper homes has long lost it's appeal and home buyers have turned to homes that have been completely upgraded.  Now as the tide is shifting more and more home buyers are open to buying homes that need cosmetic work if priced accordingly.  We recommend watching the homes that are new to the market with special attention to short sale and bank owned homes.  These are typically the best priced homes on the market and will typically have offers on them within the first two weeks of being on the market.  Our Newport Beach Real Estate website has to ability to save any home search and alert you when new deals come on the market.  2012 is going to be a great year to invest in the Southern California real estate market and we are here to help.

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