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.
The foreclosure market, including bank owned homes, bank auctions and short sales, has slowed to a trickle in Redondo Beach during 2016. It’s rare to see a single “distressed” listing these days whereas the peak of the housing crises saw consistent double digit numbers of homes on the market with an underwater seller. To see all of the foreclosures in the South Bay click here.
Although distressed listings are rare (and usually not much of a “deal”) there has been a recent listing that has come on the market in North Redondo Beach. 1832 Rockefeller Lane #8 is a bank owned (REO) 4 bedroom townhome priced at $715,500. See the details below and contact Redondo Beach realtor Keith Kyle for more information or a private showing.
By Keith Kyle
The distressed home and foreclosure market was never a major factor in the Beach Cities as the coastal communities were always buffered a bit from the huge price drops after the real estate bubble burst. Some of the outlying South Bay communities did see a large increase in bank owned homes and short sales but the closer the community was to the ocean, the less impact we tended to see.
That being said there were still a healthy (or unhealthy depending on what side of the process you were involved with) number of distressed homes for several years, but that’s virtually come to a trickle. From a high of 130 active foreclosure listings back in 2010, which does not include the number of homes in default, to only 2 active foreclosures in Hermosa, Redondo and Manhattan Beach combined. Hermosa Beach and Manhattan Beach were always very limited in the distressed market with the bulk of the foreclosure listings being in Redondo Beach.
By Keith Kyle
As the market has had so much momentum over the past 2 years, short sales and foreclosures have slowed to a trickle. Even most of those homeowners that had found themselves underwater and hanging on have taken advantage of skyrocketing prices as homes have moved above and beyond previous peak levels.
What’s unusual is the recent increase in these rare “distressed” sales as of late. As of this post, there are now 7 foreclosure homes on the market in Redondo Beach. 3 of the homes are bank owned, or REOs (real estate owned) and 4 are short sales. This is one of the higher numbers of distressed homes that we have seen in a while. While they can still be an opportunity and may be priced a bit below market value, these foreclosures don’t quite present the deals that they once did. Contact us or visit our South Bay foreclosure homes for sale for more information or to receive free foreclosure listing updates.
By Keith Kyle
**Please not that this post is from March of 2015 and the followig homes are no longer availabe.
While foreclosures have become a rarity in the Beach Cities, there are a few nice opportunities in North Redondo Beach. 2 of the 3 distressed listings are single family homes in the neighborhood near Adams middle school. Click here to view all foreclosures, bank owned homes, and short sales in Redondo Beach and the South Bay.
Bank owned homes and short sales are few and far between these days in Redondo Beach, but they do still occasionally present themselves. The home at 508 North Irena in South Redondo just came on the market and it is a detached townhome with great square footage and in fantastic condition.
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