Homes for Sale on Balboa Peninsula Point in Newport Beach | Balboa Peninsula Point Homes for Sale

Balboa Peninsula Point is located at the end of the Balboa Peninsula in Newport Beach. Balboa Peninsula Point in Newport Beach is a highly sought after community. This area of Newport Beach truly represents the beach lifestyle. Balboa Peninsula Point encompasses the homes from A Street to the end of the Balboa Peninsula. There are bay view homes, interior homes,  and ocean front homes as well in this area. The homes that are ocean front are right on the beach, and there is no boardwalk in front of these homes.

Balboa Peninsula Point has a community association and it  is voluntary to be a member. The name of the association is the Balboa Peninsula Point Association. The association hosts a few events per year including the Fourth of July parades, Easter egg hunt, and Tuesday evening meet ups on the bay side of the beach.

Balboa Peninsula Point in Newport Beach currently has 28 active listings, and there were 5 sales from October, 1, 2011 until January 31, 2012. None of the properties sold during this time period were short sales or distressed sales.  There was one sale in January, 2012 and it was a standard sale.

The absorption rate in Balboa Peninsula Point remains high with roughly over one year of inventory.

Search the MLS for Balboa Peninsula Point homes for sale in Newport Beach, and Peninsula Point real estate.

Originally posted at NewportBeachRealEstateCafe.com

Are you planning your Valentines Day dinners? Looking for somewhere special to go? Consider some of these options to celebrate Valentine's Day in Newport Beach.

Bayside Restaurant is located on Bayside in Newport Beach. They do have Valentine's Day menu, and it is an excellent restaurant.

Canaletto Ristorante Veneto is located in Fashion Island in Newport Beach. They have fantastic service, along with a delicious menu. With antipasto and delicious salads as well, there is a menu selection for everyone.

The Cannery in Newport Beach is a another wonderful restaurant. Located right on Newport Harbor, this restaurant has both indoor and outdoor dining. Enjoy fresh fish and a lovely ambiance.

Las Brisas in Laguna Beach has the most incredible views located right on the coast which overlooks the coast and beautiful Laguna Beach. Las Brisas features seafood, beef and chicken entres.

Newport Beach Dinner Dance Cruise - take in beautiful Newport Harbor while cruising on a luxurious yacht. Enjoy a candle lit dinner while enjoying the beautiful scenery.

Hope you have a wonderful Valentine's Day in Newport Beach.

Originally posted at NewportBeachRealEstateCafe.com

Newport Shores in Newport Beach is a highly sought beach community in Newport Beach and consists of approximately 440 homes located on the west side of Newport Beach.  In Newport Shores, there are both single family homes and there are condos, and duplexes as well.

The community of Newport Shores has a community pool, clubhouse, tennis court, sand volley ball court and basketball court for the residents of Newport Shores in Newport Beach.

Currently, there are 4 active listings in Newport Shores in Newport Beach, and there is one other active listing which is not in the MLS at 233 Canal Street being offered at $1,400,000. In Janaury, 2012, there was one sale. One has gone into backup status on February 2, 2012. All of the active properties are standard or equity sales with the exception of one (which is a short sale).

Listings are down -1 December
Solds are up +1 since December
November, 2011 Market Report

Market absorption is still considered a buyers market in Newport Shores in Newport Beach.

Based upon market trends, and the fact that there is such limited inventory for sale in Newport Shores, I believe that the market will remain a seller’s market. And because there continue to be standard or equity sales which is currently the majority of listings.

Search the MLS for Newport Shores homes for sale, and Newport Beach Real Estate.

This photo was taken in Barcelona, Spain. The architecture is quite different, and unusual. The Harbor was beautiful and the architecture of the surrounding buildings was interesting. The Port area was busy with travelers boarding the cruise ships. This was definitely one of the highlights taking the boat tour in Barcelona.

This has been an incredible January with home sales improving in the Newport Beach real estate market.  Homes are definitely selling, and we are seeing multiple offers on homes. Buyers are showing confidence with this recent surge of activity. This is fantastic for our Newport Beach home sellers.

In January, 2012, there were a total of 82 homes which went into back up status, 30 changed to pending, and there were 50 sales.

Of the Newport Beach homes referenced above, 39 were distressed (indicating either a short sale, foreclosure, or NOD), 18 were pending, and 15 closed escrow. With respect to the January, 2012 sales in Newport Beach,  30% of the closed listings in Newport Beach were distressed sales.

If I can answer any questions about the market in Newport Beach, please contact me.

Search the MLS for Newport Beach homes for sale.

The Newport Beach real estate market has both foreclosures, and short sales for sale . The definition of a short sale is when a bank or lien holder lender 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.

There are more short sales for sale in the Newport Beach area than foreclosures. In November, there is one active REO listing in Newport Beach.  That is down from November, when there five listings. The short sale market in the Newport Beach area has many consideration. There are both back up and pending status, and some of these short sales may not get approved by the lenders. If that is the case, then the property may go back to the bank.

The bank also wants fair market value for the property and will go great lengths in order to obtain information. A bank may request more than one BPO (broker price opinion) and obtain independent appraisals.

In Newport Beach, there are currently 47 active listings, 33 in back up, 14 pending, and there have been two sales during the month of the December, 2011.

Listings are up +2 since November, 2011
Back Up is up +5 since November, 2011
Pending sales are up +10 since November, 2011
Sales are down -2 since November, 2011

The absorption rate is for one month is generally not a trend, as it shows a fairly high absorption rate.

In general, the inventory of short sales is up from prior month, and for the year there were 124 short sales sold in comparison to 2010 when 100. In my opinion, the absorption rate will remain a stable to a buyer's market. Buyers in general perceive short sales as the best "deals" out there. However, as I stated above, banks want fair market value for the property.

If I can answer any questions about short sales in Newport Beach, please contact me.

Search the MLS for homes for sale in Newport Beach that are short sales, and short sales in Newport Beach.

Originally posted at NewportBeachRealEstateCafe.com

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 currently has an inventory of REO or bank owned homes. Currently, there is one active listings, four in back up, four pending, and there have been six sales Newport Beach bank owned sales in December, 2011.

Listings are down -4 since November, 2011
Back Up is the same since November, 2011
Pending is the same since November, 2011
Solds are up +2 since November, 2011

There has been a total of 55 REO sales in Newport Beach in 2011, compared to 61 REO sales in 2010.

There is a low absorption rate  of the REO property as you can see on the graph. These properties move quickly as buyer’s perceive them as the best deal. Keep in mind when buying an REO property – they are purchased “as is”.  Also, remember that the bank will want fair market value and go to great lengths to obtain that value, including obtaining several BPO (broker price opinions) and appraisals.

In my opinion, the absorption rate will remain low, as the inventory of the REO properties is so low.

Search the MLS for Newport Beach REO property, and Newport Beach homes for sale.

This photo was taken while I was on a water taxi in Paris. The perspective is different when actually riding on a boat. It was so beautiful, and the sun was setting, and it was a beautiful ride to the Eiffel Tower.There is incredible architecture in Paris as well as very intricate details throughout Paris. I will continue to share photos of this beautiful area.

This beautiful single family home located at 2620 Point del Mar in Corona del Mar has just been sold for $1,140,000. This home is located in the Village of Corona del Mar and is walking distance to shops and dining.

This beautiful Corona del Mar home features three bedrooms, two and a half bathrooms and a two car garage. This beautiful Corona del Mar home features granite counters and stainless appliances.

Corona del Mar is a highly sought after community, and many residents enjoy living in the Village so they can walk to dining and shopping.

If I can answer any questions about Corona del Mar, or the homes for sale in Corona del Mar, please contact me.

Search the MlS for Corona del Mar homes for sale, and Corona del Mar real estate.

Originally posted at NewportBeachRealEstateCafe.com