Holla, one of the main reasons Newport Beach real estate prices are down is the number of distressed properties on the market. Foreclosures, short sales, and real estate owned (REO) homes make up a good deal of the city’s inventory, and with prices dropping as much as 40% below market standard, citywide figures obviously suffer. Of course, the savings come at a price: while you can get Newport Beach property for cheap, you’ll need to pay a specialized agent to make sure you don’t buy into any pitfalls (such as liens or title issues). References :
June 18th, 2010 at 7:59 pm
Because the economy in Rhode Island is absolutely horrible….actually one of the worst states in the country with very high unemployment.
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June 18th, 2010 at 8:42 pm
DEFINE CHEAP
[we will agree to disagree on its prices]
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RE broker
June 18th, 2010 at 9:29 pm
Holla, one of the main reasons Newport Beach real estate prices are down is the number of distressed properties on the market. Foreclosures, short sales, and real estate owned (REO) homes make up a good deal of the city’s inventory, and with prices dropping as much as 40% below market standard, citywide figures obviously suffer. Of course, the savings come at a price: while you can get Newport Beach property for cheap, you’ll need to pay a specialized agent to make sure you don’t buy into any pitfalls (such as liens or title issues).
References :