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I was sitting on my balcony at my Newport Coast IAC townhome rental this afternoon enjoying the good weather and a cocktail, and overheard our new (now renting) neighbor as he sat on the patio and discussed with his lender how he cannot make his payments and is giving up his Newport Beach home...

Is anybody here following Newport Beach? The price for the home below was dropped an eye-popping $440,000 from $1,389,000 list price to $949,000. I presume this must have gone back to the bank. Any good resources on the Newport Beach/Coast market...