602 Paseo De La Playa

By the Numbers – Redondo Beach Home Sales for February 2020

Home Sales in redondo Beach for February

February was a very slow month for closed home sales in Redondo Beach with only 44 homes sold during the month. That’s the fewest home sales in a month over the past 18 months other than December  2019. 

Prices were solid as they’ve been over the past 18 months with the median list prices of $1,199,000 and a median sales price of $1,182,000.  Average price per foot for sold homes in Redondo Beach was $714.  Average days on market was only 55 which is another indication of a strong sellers market.  27 of the home sales were in the 90277 or South Redondo area (8 of those home sales were actually in the Hollywood Riviera which has a Redondo mailing address but is technically in Torrance)  19 of the homes were in North Redondo Beach or 90278 zip code.   See the Redondo Beach real estate stats for the past 15 months below.

February 2020 Home Sales and Prices in Redondo Beach.

MLS # Type Address Price $ Per Foot Bed/Bath Sq Feet Year Sold Date
SB20029536 SFR/D 135 Calle De Andalucia $1,100,000 $1,077.38 2/1,0,0,0 1021/A 1949/ASR 2/21/2020
CV19256190 SFR/D 138 Via Colusa $1,229,000 $1,006.55 2/2,0,0,0 1221/A 1948/ASR 2/12/2020
SB20003222 SFR/D 644 Calle Miramar $1,325,000 $700.69 3/2,0,0,0 1891/A 1958/ASR 2/24/2020
PV20002771 SFR/D 146 Via Monte Doro $1,675,000 $604.47 3/1,1,0,1 2771/A 1956/ASR 2/13/2020
PV19233601 SFR/D 301 Avenida Atezada $1,925,000 $848.39 3/3,0,0,0 2269/A 1959/ASR 2/28/2020
SB20025429 TWNHS/A 2406 N Aviation BLVD #D $602,500 $464.89 2/1,0,1,0 1296/A 1978/ASR 2/22/2020
20540650 CONDO 2103 FELTON LN $850,000 $593.99 3/2,0,1,0 1431/ 1986 2/6/2020
SB20011018 SFR/D 2420 Robinson ST $885,000 $783.19 2/1,0,0,0 1130/A 1937/ASR 2/7/2020
SB20019494 TWNHS/D 1901 Ernest AVE #A $940,000 $542.41 3/1,1,1,0 1733/A 1988/PUB 2/18/2020
SB20015765 TWNHS/D 1907 Plant #B $1,605,000 $671.55 4/3,0,1,0 2390/B 2019/BLD 2/27/2020
SB20009823 TWNHS/A 1728 Ruxton LN #D $920,000 $547.95 3/2,0,1,0 1679/A 2000/ASR 2/21/2020
SB19271210 TWNHS/D 2405 Huntington LN #2 $991,000 $477.82 4/2,0,0,0 2074/A 1988/ASR 2/19/2020
SB20002740 TWNHS/D 2411 Marshallfield LN #A $1,185,000 $513.88 4/2,0,1,0 2306/A 2001/ASR 2/27/2020
SB19176335 TWNHS/A 2715 Carnegie LN #A $1,200,000 $520.83 4/4,1,0,0 2304/E 2019/BLD 2/5/2020
PV19214347 TWNHS/A 1922 Vanderbilt LN $1,295,000 $533.36 5/5,0,0,0 2428/B 2019/BLD 2/27/2020
PV19214279 TWNHS/A 1807 Green LN $1,295,000 $556.75 5/5,0,0,0 2326/B 2019/BLD 2/4/2020
SB19285945 TWNHS/D 2508 Harriman #A $1,585,000 $621.57 4/3,0,1,0 2550/B 2019/BLD 2/25/2020
SB19202634 TWNHS/D 2508 Harriman LN #B $1,585,000 $609.62 4/3,0,1,0 2600/B 2019/BLD 2/14/2020
BB19276506 CONDO/A 720 Meyer LN #104 $575,000 $611.05 2/2,0,0,0 941/A 1973/ASR 2/11/2020
PW20004461 CONDO/D 18512 Mansel AVE $937,500 $473.48 4/2,0,1,0 1980/A 2007/ASR 2/25/2020
SB19279300 SFR/D 1717 Van Horne LN $1,085,000 $713.82 3/1,0,1,0 1520/A 1966/ASR 2/20/2020
SB20000560 SFR/D 1521 Steinhart AVE $1,296,230 $674.42 3/2,0,1,0 1922/A 1987/ASR 2/5/2020
SB20004970 SFR/D 1218 Harper Ave $1,425,000 $834.31 3/2,0,1,0 1708/P 2002/PUB 2/11/2020
SB19237722 SFR/D 1605 Stanford AVE $1,455,000 $551.14 5/3,0,1,0 2640/A 2007/ASR 2/4/2020
SB19263239 TWNHS/A 834 N Lucia AVE #D $653,000 $555.74 2/1,1,0,0 1175/A 1973/PUB 2/11/2020
SB19240978 TWNHS/A 220 S Prospect AVE #5 $765,000 $501.64 3/2,0,1,0 1525/A 1980/ASR 2/14/2020
PV19276401 TWNHS/A 320 N Catalina AVE #9 $855,000 $539.43 2/2,0,0,0 1585/A 1986/ASR 2/21/2020
SB20006605 TWNHS/A 211 S Helberta AVE S#4 $930,000 $664.29 2/2,0,1,0 1400/E 1986/EST 2/12/2020
SB19278156 TWNHS/A 217 S Helberta AVE #5 $1,179,000 $585.11 3/2,0,1,0 2015/A 1981/ASR 2/13/2020
SB19223229 TWNHS/D 102 S Prospect AVE #A $1,249,000 $618.01 3/1,1,1,0 2021/B 2019/BLD 2/7/2020
SR20039182 SFR/D 817 N Maria AVE $1,285,000 $1,148.35 2/2,0,0,0 1119/A 1950/ASR 2/21/2020
SB19268645 SFR/D 308 N Francisca AVE $1,575,000 $916.76 4/3,0,0,0 1718/A 1906/ASR 2/7/2020
SB19242337 CONDO/A 611 S Prospect AVE #104 $575,000 $589.74 2/1,1,0,0 975/A 1970/ASR 2/4/2020
SB19215318 SFR/D 836 Avenue A $950,000 $626.65 3/2,0,0,0 1516/A 1952/ASR 2/28/2020
SB19207076 SFR/D 517 Avenue F $1,405,000 $655.01 4/1,3,0,0 2145/A 1959/ASR 2/26/2020
SB20042388 SFR/D 778 Avenue C $3,259,000 $775.95 6/5,0,1,0 4200/O 2017/EST 2/26/2020
SB19252588 CONDO/A 610 The Village #203 $595,000 $961.23 1/1,0,0,0 619/A 1974/ASR 2/21/2020
SB20009013 CONDO/A 721 Esplanade #606 $890,000 $1,112.50 1/1,0,0,0 800/A 1971/ASR 2/6/2020
SB19251456 CONDO/A 420 Esplanade #4 $1,050,000 $583.33 2/2,0,0,0 1800/A 1985/PUB 2/12/2020
SB19278219 TWNHS/A 128 S Broadway #D $1,069,000 $615.07 3/2,0,1,0 1738/A 1990/ASR 2/7/2020
PV20032041 CONDO/A 615 Esplanade #810 $1,200,000 $1,203.61 2/2,0,0,0 997/A 1971/ASR 2/13/2020
SB19258079 DPLX/D 905 S Catalina Ave $1,750,000 $742.47 5/3,0,0,0 2357/P 1957/PUB 2/19/2020
PV19173612 SFR/D 717 Esplanade $9,675,000 $1,376.64 4/5,0,3,0 7028/T 2000/ASR 2/14/2020
OC19227350 SFR/D 3108 Vail AVE $950,000 $1,118.96 2/1,0,0,0 849/A 1943/ASR 2/28/2020

By the Numbers – Real Estate Stats for Redondo Beach CA

Home Spotlight – Nice Starter Home at 1809 Phelan in North Redondo

1809 Phelan Lane, Redondo Beach $819,000

Back on the market and at a much better price… This single family home in north Redondo was recently on the market for $899,000 and didn’t sell. They just brought it back at a much more appealing $819,0000. This is a fairly common layout for smaller homes in Redondo Beach and you’ll see this same looking home in the Golden Hills and scattered throughout the area. 1809 Phelan was extensively remodeled and and offers 3 bedrooms and 1 bath with approximately 912 square feet.

1809 Plelan, Redondo Beach

[idx-listing mlsnumber=”PV20036034″ showall=”true”]

Big Numbers and Big Sales for Detached Townhomes in Redondo – 1907 Plant

1907 Plant - Redondo Beach - Detached Townhomes

The recent sale of 1907 Plant #A at $1,550,000 and the recent escrow of the B unit selling quickly at or over the list price of $1,595,000 sets the new standard for detached townhome prices in North Redondo Beach.   The #A home sold prior to completion and sold off market.  We write articles every year as to what detached townhomes are selling for and it wasn’t all that long ago that we were wondering if they could support $1.1M numbers….now we’re at almost $1.6M for a high end, well located home.  Pretty unbelievable.

November Home Sales in Redondo Beach

The real estate market in Redondo Beach continued to remain strong with 72 closed home sales during the month with a median sales price of over $1.0M.   The median list price was $1,039,500 and the median sales price was $1,032,500 indicating a very solid seller’s market.  The highest price of the month was at $2,994,000 for new construction at 404 S Gertruda and the lowest price of the month was $425,000 for a one bedroom condo in Brookside Village in South Redondo.

November 2019 is a Seller’s market*

Home For Sale in November 2019: 102 units.

  • Down 23.9% compared to last month
  • Down 31.5% compared to last year

Home Closed in November 2019: 72 units.

  • Down 1.4% compared to last month
  • Up 46.9% compared to last year

Home Placed under Contract in November 2019: 66 units.

  • Down 12% compared to last month
  • Up 10% compared to last year

*Buyer’s market: more than 6 months of inventory based on closed sales  Seller’s market: less than 3 months of inventory based on closed sales  Neutral market: 3 – 6 months of inventory based on closed sales

View all of the current homes for sale in Redondo Beach

November Home Sales in Redondo Beach CA

MLS Type   Address Price $ per Foot Bed/Bath Sq Feet Year Sold Date
SB19151555 CONDO/A 125 Calle Mayor    #25 $800,000 $596 2/2,0,1,0 1342/A 1974/ASR 11/1/2019
SB19234503 SFR/D 288 Via Linda Vista    $1,299,000 $812 3/2,0,0,0 1600/SEE 1948/ASR 11/22/2019
PV19181776 SFR/D 219 Via Anita    $1,301,000 $919 3/2,0,0,0 1416/A 1954/ASR 11/1/2019
PV19230575 SFR/D 308 Via Colusa    $1,360,000 $699 4/1,1,0,0 1945/A 1948/ASR 11/13/2019
PV19241752 SFR/D 426 Calle De Aragon    $1,810,000 $1,014 3/2,0,1,0 1785/A 1948/ASR 11/13/2019
SB19199630 SFR/D 118 Via Pasqual    $1,900,000 $716 4/4,0,0,0 2654/A 1954/ASR 11/15/2019
SB19220774 SFR/D 929 Calle Miramar    $1,900,000 $517 5/3,0,0,0 3672/A 1957/ASR 11/14/2019
SB19233322 CONDO/A 2001 Artesia BLVD   #401 $440,000 $540 1/1,0,0,0 815/A 2008/ASR 11/22/2019
SB19227271 TWNHS/A 2607 Nelson AVE   #F $705,000 $544 2/1,0,1,0 1295/A 1976/ASR 11/1/2019
SB19224466 TWNHS/A 2120 Dufour AVE   #13 $715,000 $523 3/3,0,0,0 1368/A 1975/ASR 11/14/2019
SW19218319 TWNHS/A 2016 Mathews AVE   #E $789,000 $524 2/3,0,0,0 1507/A 1980/ASR 11/1/2019
ND19250904 SFR/D 2605 Blossom LN   $805,000 $932 2/1,0,0,0 864/A 1957/ASR 11/26/2019
SB19205594 TWNHS/A 2615 Nelson AVE   #C $905,000 $538 3/2,0,1,0 1683/A 2002/ASR 11/15/2019
PV19112271 TWNHS/A 2203 Perkins LN   $1,050,000 $500 3/2,0,1,0 2099/B 2019/BLD 11/25/2019
SR19235300 SFR/D 2216 Gates AVE   $1,218,750 $1,679 2/1,0,0,0 726/A 1947/ASR 11/11/2019
SB19205904 TWNHS/D 2606 Voorhees AVE   #B $1,334,000 $604 3/3,0,1,0 2209/S 2016/BLD 11/8/2019
TR19256026 CONDO/A 2750 Artesia BLVD   #306 $455,000 $529 2/2,0,0,0 860/A 2008/ASR 11/27/2019
SB19210516 CONDO/A 2521 Carnegie LN   #3 $625,000 $453 2/1,0,1,0 1381/A 1980/ASR 11/1/2019
SB19239141 CONDO/A 2012 Carnegie LN   #B $688,000 $573 2/2,0,0,0 1200/A 1979/ASR 11/20/2019
OC19152778 TWNHS/A 2201 Grant AVE   #2 $695,000 $485 3/1,1,1,0 1433/A 1975/ASR 11/20/2019
SB19074483 TWNHS/A 2203 Grant AVE   #C $785,000 $453 3/2,0,1,0 1732/A 1988/ASR 11/1/2019
SB19238664 TWNHS/A 2108 Rockefeller LN   #C $800,000 $577 2/2,0,1,0 1387/A 1980/ASR 11/8/2019
RS19130426 TWNHS/A 1708 Ruxton LN   #B $805,000 $452 3/2,0,1,0 1780/A 2007/ASR 11/7/2019
TR19172901 TWNHS/A 2601 Carnegie Ln#6    $805,000 $495 3/2,0,1,0 1627/A 1981/ASR 11/15/2019
19502860 TWNHS 1729 RUXTON LN   $821,734 $480 4/2,0,1,0 1711/SEE 2000 11/1/2019
SB19217797 TWNHS/A 2521 Grant AVE   #A $835,000 $512 3/2,0,1,0 1632/A 1995/APP 11/22/2019
SB19238067 TWNHS/A 2120 Rockefeller LN   #A $890,000 $463 3/3,0,0,0 1923/A 1988/PUB 11/14/2019
19491110 TWNHS 2417 CARNEGIE LN   #B $939,000 $559 4/3,0,0,0 1680/ 2007 11/18/2019
SB19197433 TWNHS/A 1904 Slauson LN   $944,000 $496 3/2,0,1,0 1902/D 2000/ASR 11/22/2019
SB19223482 TWNHS/A 2214 Marshallfield LN   #A $965,000 $471 3/2,0,1,0 2047/A 1985/ASR 11/13/2019
PV19134721 TWNHS/A 2707 Rockefeller LN   #A $1,000,000 $453 4/4,0,0,0 2209/B 2019/BLD 11/22/2019
PV19241545 TWNHS/A 2220 Rockefeller LN   #C $1,069,000 $568 3/2,0,1,0 1883/AP 2000/ASR 11/25/2019
SB19180125 TWNHS/A 2715 Carnegie LN   #C $1,250,000 $545 4/4,1,0,0 2293/E 2019/BLD 11/27/2019
SB19227396 SFR/D 1710 Marshallfield LN   $1,280,000 $734 4/2,0,0,0 1743/A 1959/ASR 11/18/2019
SB19189198 TWNHS/A 2315 Huntington Ln    #B $1,500,000 $600 4/3,0,1,0 2500/B 2019/PUB 11/29/2019
SB19185434 TWNHS/A 1919 Gates AVE   $1,625,000 $579 4/3,0,1,0 2806/B 2019/BLD 11/1/2019
OC19240609 SFR/D 2604 Alvord LN   $775,000 $848 2/1,0,0,0 914/A 1953/PUB 11/18/2019
SB19151318 TWNHS/D 18515 Burin AVE   $820,000 $521 3/2,0,1,0 1575/E 2019/BLD 11/18/2019
PW19189131 SFR/D 2605 182nd PL   $850,000 $618 2/1,0,0,0 1376/A 1953/ASR 11/14/2019
SB19163061 SFR/D 2521 Armour LN   $1,000,000 $548 4/2,0,0,0 1824/A 1953/ASR 11/19/2019
SB19239159 SFR/D 2517 Fisk LN   $1,015,000 $508 4/3,0,0,0 1998/A 1953/ASR 11/22/2019
SB19217581 SFR/D 1010 Firmona AVE   $1,150,000 $499 4/2,0,0,0 2303/A 1955/ASR 11/1/2019
PV19190354 SFR/D 2613 Alvord LN   $1,850,000 $616 5/4,0,1,0 3003/B 2019/BLD 11/26/2019
PW19256562 SFR/D 1615 Armour LN   $1,050,000 $668 3/2,0,0,0 1572/AP 1963/ASR 11/1/2019
SB19223418 SFR/D 1630 Wollacott ST   $1,060,000 $589 3/2,0,0,0 1800/A 1964/ASR 11/14/2019
SB19233175 SFR/D 1221 Stanford AVE   $1,070,000 $670 3/2,0,0,0 1596/A 1970/ASR 11/8/2019
SB19212753 SFR/D 1729 Steinhart AVE   $1,130,000 $601 3/2,0,0,0 1881/A 1982/ASR 11/7/2019
PV19223215 SFR/D 1749 Wollacott ST   $1,160,000 $531 4/2,0,1,0 2185/A 1985/ASR 11/13/2019
SB19240967 SFR/D 1525 Goodman AVE   $1,230,000 $674 3/2,0,0,0 1824/A 1982/ASR 11/27/2019
SB19264135 SFR/D 1639 Goodman AVE   $1,300,000 $681 3/3,0,0,0 1910/A 1987/ASR 11/21/2019
SB19219628 TWNHS/A 1705 Marshallfield LN   #B $1,310,000 $481 4/3,0,0,0 2726/A 1998/PUB 11/15/2019
SB19248290 SFR/D 1528 Wollacott ST   $1,335,000 $732 3/2,0,1,0 1825/A 1983/ASR 11/26/2019
SB19232948 SFR/D 1512 Goodman AVE   $1,350,000 $747 3/2,0,1,0 1808/A 1984/ASR 11/14/2019
PV19232617 SFR/D 1711 Haynes LN   $1,592,000 $724 3/4,0,1,0 2200/B 2019/BLD 11/20/2019
SB19209830 TWNHS/D 616 N Juanita AVE   #A $1,250,000 $656 3/2,0,1,0 1905/A 1990/ASR 11/21/2019
SB19226574 TWNHS/D 711 N Irena AVE   #1 $1,325,000 $470 4/2,0,1,0 2822/A 1984/ASR 11/14/2019
SB19222858 TWNHS/A 716 N Lucia AVE   #B $1,357,500 $548 3/2,0,1,0 2476/A 1991/ASR 11/1/2019
SB19223236 TWNHS/D 102 S Prospect AVE   #B $1,360,000 $589 4/1,2,1,0 2309/A 2019/BLD 11/8/2019
SB19228857 TWNHS/D 613 N Lucia AVE   $1,495,000 $653 3/2,0,1,0 2291/A 2014/ASR 11/4/2019
SB19203031 CONDO/A 601 S Prospect AVE   #102 $425,000 $574 1/1,0,0,0 740/A 1970/ASR 11/27/2019
SB19218095 CONDO/A 601 S Prospect AVE   #206 $440,000 $658 1/1,0,0,0 669/A 1970/ASR 11/8/2019
IN19243603 CONDO/A 649 S Prospect AVE   #204 $590,000 $604 2/2,0,0,0 977/A 1970/PUB 11/20/2019
SB19183181 TWNHS/A 406 Avenue G    #18 $799,000 $551 3/3,0,0,0 1449/A 1987/ASR 11/7/2019
OC19220079 CONDO/A 1920 S PCH    #201 $974,500 $726 2/2,0,0,0 1342/B 2018/BLD 11/9/2019
SB19207800 SFR/D 747 Avenue B    $1,400,000 $793 4/1,1,0,0 1766/A 1964/ASR 11/1/2019
SB19169055 TWNHS/D 530 Avenue C    #B $1,550,000 $646 3/3,0,0,0 2400/B 2019/APP 11/8/2019
SB19207964 TWNHS/D 544 Avenue A    #B $1,950,000 $794 4/3,0,1,0 2455/B 2019/BLD 11/19/2019
SB19145587 SFR/D 404 S Gertruda AVE   $2,994,000 $771 5/2,2,0,0 3881/D 2019/BLD 11/8/2019
19503544 CONDO 610 The Village    #305 $610,000 $985 1/1,0,0,0 619/ 1974 11/20/2019
PW19188060 CONDO/A 250 The Village    #112 $735,000 $789 1/1,0,0,0 932/E 1978/ASR 11/27/2019
DW19150455 TWNHS/A 515 N Gertruda AVE   #3 $825,000 $503 2/2,0,0,1 1641/A 1989/ASR 11/19/2019
SB19186763 TWNHS/A 313 N Broadway    #8 $955,000 $514 3/2,0,1,0 1859/A 1988/ASR 11/21/2019
reviewing paperwork and plans

Understanding Closing Costs in Redondo Beach Real Estate

You can generally break down all closing costs into four basic groups:

  1. Amounts paid to state and local governments. These include city, county and state transfer taxes, recordation fees, and prepaid property taxes.
  2. Costs of obtaining a loan or mortgage. These fees include title insurance, appraisals, credit checks, loan origination and documentation fees, commitment and processing fees, hazard and mortgage insurance and interest prepayments.
  3. Escrow company fees
  4. Although not technically closing costs there are also expensese such as home inspection, termite inspection, etc.  Although highly recommended, they are not required and at the buyers discretion.

Unfortunately there are plenty of other fees that you’ll have to pay during the closing. Many of these costs are actually negotiated during the offer and counter offer process. All closing costs are spelled out in the lender’s estimate. The Settlement Statement from escrow shows all actual charges imposed on borrower in connection with the settlement before close of escrow. If you see a charge that doesn’t make sense, or that no other lender has, it’s time to ask questions.

Here’s an example of what you can expect to pay (some costs vary widely from state to state, so you should determine exactly what you will have to pay) :

Property Inspection – We strongly recommend that every home has a physical inspection done during the escrow period. A qualified inspector can find many potential problems early in the process which allows you to request repairs, request a credit, obtain further specific inspections, or even back out of the deal. Inspections generally run between $400 and $750 depending on the size of the home.

Transfer Taxes – Los Angeles County has a tax of $1.10 per $1,000 (of purchase price) on the sale of a home.  Although it is negotiated it is standard for the seller to pay this in the South Bay.

City Transfer Tax – Unfortunately Redondo Beach is one of the few cities that has a separate transfer tax.  The documentary transfer tax in Redondo Beach is $2.20 per $1,000 (of purchase price).  It is customary (although again negotiated during offer) that the buyer and seller split this cost 50/50

Escrow Company Fee – While it may be different in other states, California real estate often involves an escrow company.  These companies charge a relatively standard amount based on the sales price.   Their fees are sometimes negotiable.

Discount and Origination Points – Points are equal to a percent of the loan amount. 1.00 point is equal to 1.00% of the loan amount. Discount points represent additional money you can pay to the lender at closing. If you pay more points it will lower the interest rate. Usually, for each point you pay for a 30-year loan, your interest rate is reduced by about 1/8th (or .125) of a percentage point. Paying points can be good if you plan on living in the home for a long time.

Origination Points (or Loan origination fee) charged by the lender for evaluating, preparing, and submitting a proposed mortgage loan. Origination fees are often expressed as a percentage. A one percent loan origination fee is equal to 1% of the loan amount. Some lenders add origination points into their quoted points while other lenders add an origination point in addition to their quoted points.

Application Fee covers the lender’s cost to process the information on your loan. Usually, you must pay this charge at the time you file the application. Some lenders may apply the cost of the application fee to certain closing costs. Generally lenders do not refund this application fee if you are not approved for the loan or if you decide not to take it.

Appraisal Fee – This fee ($450 to $800 depending on the price of the home) pays for an independent appraisal of the home you want to purchase. The lender requires this estimate of the market value of the house for the loan. Factors to be considered in determining market value are: present cash value; use; location; replacement value of improvements; condition; income from property; net proceeds if the property is sold, etc. The appraisal is a critical factor in determining how much of a mortgage the bank or mortgage company will approve. After the appraisal is completed, the borrower is normally entitled to a copy of the appraisal from the lender.

Credit report Fee –  Three major national credit bureaus (Equifax, TransUnion and Experian) supply lenders with the information on your credit behavior. Consumers typically pay $45 to $55 for this report.

Title search and title insurance –  A title search is a detailed examination of the historical records concerning a property. These records include deeds, court records, property and name indexes, and many other documents. The purpose of the search is to make sure the buyer is purchasing a house from the legal owner and there are no liens, overdue special assessments, or other claims or outstanding restrictive covenants filed in the record, which would adversely affect the marketability or value of title.

A title search can show a number of title defects among these are unpaid taxes, unsatisfied mortgages and judgments against the seller. But there are some hidden defects that even the most diligent title search may never reveal. For instance, the previous owner could have incorrectly stated his marital status, resulting in a possible claim by his legal spouse. Other problems include things like fraud, forgery, defective deeds, mental incompetence, confusion due to similar or identical names, and clerical errors in the records. These defects can arise after you have purchased your home and jeopardize your right to ownership.

Generally speaking it is standard in California for the seller to pay for “owners” title insurance policy and the buyer to pay for a “lenders” title insurance policy.

A certificate of title – issued by a title company that did the title search — offers no protection against any hidden defects in the title which an examination of the records could not reveal. A title insurance protects against any tax liens, unpaid mortgages, or judgments missed in the research of the history of title on the property. If a claim is made against your property, title insurance will, in accordance with the terms of your policy, assure you of a legal defense and pay all court costs and related fees. Also, if the claim proves valid, you will be reimbursed for your actual loss up to the face amount of the policy.

Basically there are two different types of policies – a lender’s policy and an owner’s policy. The lender’s policy protects the lender’s interest in the property as security for the outstanding balance under the buyer’s mortgage. The owner’s policy safeguards the buyer’s investment or equity in the property up to the face amount of the policy. The cost of the policy is usually based on the loan amount.

It is required to obtain a lender’s title insurance policy only if there is a loan involved. If you also desire the protection of title insurance you should purchase a buyer’s title policy. This is a one time premium, and usually the cheapest rate might be offered by the company that did the title search. It is also advisable to inquire about the seller’s title insurance policies on the property, for it may be possible for you to obtain a policy at a lower reissue rate.

Prepaid Lender Required Costs – Many lenders require you to pay for some items that will come due after closing. These prepaid items usually include insurance premiums (for Homeowners Insurance — also called Hazard, or Fire Insurance — and Private Mortgage Insurance) and Real Estate Taxes.

Recording and Transfer Charges – A small fee (to $150 to $350) to cover the cost of the paperwork required to record your home purchase.

Interim interest – Accrued interest from closing date until the end of the month.

Two Bank Owned REO Properties in Redondo Beach?

It’s been a while since we’ve seen bank owned homes or REO properties in Redondo Beach.  At the moment there are actually 2 currently on the market.  The more recent listing is 2117 Grant #3.  This is a large 3 bedroom townhome on  in North Redondo with over 2,000 square feet*  The home is currently listed for $869,000 and has been on the market for 12 days as of 3/5/19  Please contact us for more information or to schedule a tour of the home.

2117 Grant #3

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redondo beach

Vista Sotheby's International

Vista Sotheby’s International Realty is one of the top real estate brokerages in the South Bay and Southern California with offices in Redondo Beach and throughout the South Bay

ADDRESS:

1801 S Catalina Ave, Redondo Beach, CA 90277

Phone:

310.251.2344

E-mail:

keith.kyle@vistasir.com

CONTACT AGENT

DRE#01712785

keith kyle

Top Producing Realtor

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Sotheby's International

Welcome to Sotheby's International Realty representing buyers and sellers of fine South Bay and Southern California properties

Redondo Beach Real Estate & Homes. All rights reserved. Information deemed reliable but not guaranteed

Keith Kyle – Licensed Realtor – Vista Sothebys International Realty – DRE#01712785

The listing information set forth on this site is based upon information which we consider reliable, but because it has been supplied by third parties to our franchisees (who in turn supplied it to us), we cannot represent that it is accurate or complete, and it should not be relied upon as such. The offerings are subject to errors, omissions, changes, including price, or withdrawal without notice. All dimensions are approximate and have not been verified by the selling party and cannot be verified by Sotheby’s International Realty Affiliates LLC. It is recommended that you hire a professional in the business of determining dimensions, such as an appraiser, architect or civil engineer, to determine such information. Sotheby’s International Realty ® and the Sotheby’s International Realty Logo are service marks licensed to Sotheby’s International Realty Affiliates LLC and used with permission.