Newport Coast, CA (PRWEB) July 18, 2012
Newport Coast Real Estate Agent Michael Franco of Beach Cities Real Estate has successfully closed over 10 Million dollars in sales for the first half of 2012. Michael works the luxury real estate market in the Pelican Hill Newport Coast area of Orange County, California with an emphasis on Newport Coast, Newport Beach, Laguna Beach and Huntington Beach. Recent sales in the last month have occured in the Cassis Newport Coast neighborhood where the ocean view home closed for $3,795,000 as well as a Huntington Beach Oceanfront home that successfully closed last week for $2,465,000. Michael located the Huntington Beach home through local networking as the home never officially came on the market before it was sold.
The Newport Coast luxury real estate market is very active right now as the local economy and buyer confidence continues to improve. The Newport Coast home that Michael recently sold for $3,795,000 went into escrow within a matter of days of being on the market and received a full asking price on the offer. This is not uncommon as many buyers are waiting and ready to act quick when new listings come on the market due to the current low housing inventory. Buyers realize that low prices on these luxury homes will not last long as 2013 forecasts anticipate a rise in prices by 7.1%.
Home buyers looking to get into the market should do their research first to educate themselves on local prices and how quickly homes are selling. There are many great online sites that will give statistical information on home sales and current available properties for sale. For detailed information on Newport Coast Real Estate go to http://www.newportcoastrealestate.com or call Michael direct at 949-200-2383. Michael works hard for all his clients and looks forward to assisting new home buyers.