Newport Coast Bank Owned Properties are located throughout Newport Beach. Some of areas where they can be found include Balboa Peninsula, Balboa Island, and Newport Heights. Newport Coast is located in Orange County and is home to some of the most spectacular view properties on the California Coast. This is an ever changing market, and the number of Newport Coast banked owned or REO properties is consistently low. Since bank owned properties are usually a fantastic value and they are rare commodity to find, they are quite sought after in Newport Coast real estate. It is important to keep in mind, that all offers are subject to bank approval and require patience when purchasing one. Many of these properties will have several offers on them. In 2011, there were 55 bank owned / REO Homes on the market. In 2010, there were 61. In the current market, these will be even harder to come by, making it imperative that you work with professional realtors, such as The Franco Team. All bank owned / REO Properties are sold as is. Still this is a fantastic way to purchase a Newport Coast property at a great value. The highly acclaimed Hoag Hospital and University of California at Irvine are just a 15 minute drive from Newport Coast. Newport Coast is located close to shopping, dining and entertainment at the Newport Coast Shopping Center and Fashion Island. The I-5 freeway, 55 Newport Freeway, Pacific Coast Highway and the 3 Joaquin Transportation Corridor are easily accessible from all areas of Newport Coast.