ResalesNewport Beach: Sand Castles Are Building Up
Coastal cities along Orange County are on the rise.
About the area known as the Balboa Peninsula, Realtor Roy N. Rhino says, "You can find your dream beach house here or an investment property. It is right on the sand where you want to be."
Rhino explains, "The Balboa Peninsula is a life style to enjoy like no other. If you enjoy the beach and all the things that go with it, then this is the place for you. You can stroll down the boardwalk or get on your bike, roller blades or skates and go for long rides or walks. There are also many casual places to dine as well as fine dining nearby. We have theatres and the Orange County Performing Arts Center in our area to enjoy the Arts. There are many simple things to do like just enjoying the sunset into the ocean."
Says Realtor Carole Shinn, "The real estate market in the Coastal cities of Orange County remains strong. Double-digit price growth occurred a couple months ago and in certain value ranges, increases in value still is climbing, due to lack of inventory and low interest rates. July, 2002, the number of properties listed dropped considerably, as did the average days on the market. Ocean-close real estate is always in demand due to the lifestyle, clean air and cooling ocean breezes!"
Agrees Realtor Michael K. Stark, "The residential resale market for 2002 has been excellent. Compared to a year ago, Southern California home prices are up an average of 20 percent. Given the historic low interest rates and strong buyer demand, property inventory is selling quickly as long as it is not overpriced."
Click here to view current Market Conditions in your location.