Home for Sale at 1202 S Bay Front, Newport Beach, CA 92662

1202 S Bay Front
Newport Beach, CA 92662

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Property Details

List Price:	$8,950,000
Beds:	3
Baths:	3
Status:	Active
SqFt:	2160
Agency:	Compass

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Description/Comments

Lot Size:	2,550 sqft
Property Type:	Residential
Year Built:	1948
Notes:	Price reduction of nearly 25%!! <br /> <br /> Wecome to 1202 S Bay Front, Newport Beach's most desired view!! The most prized directional facing view that encompasses the entire Newport Harbor. You will lose yourself in the beauty and tranquility of the ultimate vacation lifestyle of living on the water. Steps away from your private shared dock and sandy beach. Launch your paddleboards or kayaks on your water playground! South facing bay fronts rarely come available and are a generational heritage for their owners. Emerse yourself in the epitome of luxury enjoyment in your fully renovated home (completed in 2023). With room to potentially add a rooftop deck or add square footage (buyer to verify with city), there are no limits to what the imagination can accomplish here. Be privileged to drive by and see your home from the channel as you sail to and fro. Discover Newport Beach's finest restaurants from the water, as you pull up in your vessel to valet boat parking. A hop, skip, and a jump takes you to the postcard-worthy Main Street on Balboa Island, where you will find delectable treats, refined dining, and amazing fun (including shopping).<br /> <br /> Stop your search and find your way home to the front row of Newport Beach's best kept secret: Balboa Island! Where luxury meets chill! Become the envy of passers-by as you gaze out into the open water. Christmas Boat parades and lots of new friends can't wait to greet you at your new home that will be filled with the joy and magic of this vibrant Island.<br /> <br /> Subject to cancelation of existing escrow (at no fault to sellers).
MlsNumber:	NP23134932

Listing Provided By:	Compass, original listing
Name:	Compass
Phone:	(949) 438-4340
Office Name:	Compass
Office Phone:	(949) 438-4340
Agent Name:	Andrea O Hill
Disclaimer:	Copyright Â© 2024 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest.

The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered.

VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

Free Foreclosure Listings

USHUD.com is a website that simplifies the process of finding foreclosures and HUD properties. Everyone thinks they are a real estate web surfing pro until they search for foreclosure homes and stumble upon a numerous sites that want to charge a fee to see their listings. With USHUD.com that’s not the case. When searching for HUD properties or a home finding website for foreclosure it is important to know what you are looking for. It is important to use a niche company that specializes in foreclosures like USHUD.com. We have put together 2 tools that have made the real estate search process of our website much easier to navigate. The Homesearch online tool is filled with foreclosure lists and free listings of hud homes for sale. Most of our users start with a broad search with the homesearch online tool to see the most HUD properties and foreclosure lists in your area and narrow their search down with the Homefinder online tool. The homefinder online tool is a custom filter system that we breakdown the area based upon filters such as convention and foreclosure listings. This give you the option to filter out conventional listings and focus on just the foreclosures in the market. We thank you for making us Americas top home finding website for foreclosure and Hud properties. Free listings of hud homes for sale are hard to come by but should always be free and that’s the way things are going to stay on our website.

Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale.

This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments.

Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.

USHUD.com is a private company not affiliated or associated with or endorsed, authorized, approved, sponsored
or licensed by the US Department of Housing and Urban Development

USHUD.com is an Equal Housing Opportunity

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