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For investors buying foreclosure real estate, agents and home buyers looking for foreclosures, bank-owned homes and real estate auctions in affluent neighborhoods Newport Beach is good place to start. Demographically, Newport Beach is a prosperous city where the median household is $83,455. In Newport Beach investors will find many pre-foreclosure homes, foreclosure auctions, bank-owned foreclosures, for sale by owner (FSBO), resale MLS homes and new homes for sale.

Newport Beach, incorporated as a city in 1906, is located about 10 miles south of downtown Santa Ana. The city has a total population of 70,032. It is home to several well known communities, including Balboa Island, Corona del Mar, San Joaquin Hills and Newport Coast.

The TV shows The O.C. and Arrested Development are set in Newport Beach. It is also home to Balboa Island an artificial island in Newport Harbor that was dredged and filled right before World War I. The Balboa Island Ferry transports cars, bicycles and pedestrians across the harbor channel between Balboa Island and the Balboa Peninsula. The Back Bay is a wildlife sanctuary, while nearby Fashion Island provides an elegant outdoor shopping experiences near the Pacific Ocean.

Several factors make Newport Beach a good foreclosure market. Many troubled buyers are looking for way to stop foreclosure. A cooling economy, rising energy prices and interest rates have made it tougher for home owners, especially those who purchased at the peak of the recent housing boom.