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

The Rare Foreclosure in Redondo Beach – 1832 Rockefeller

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.

Redondo Beach foreclosures

Only 2 Active Foreclosure Listings in All of Redondo Beach

By Keith KyleRedondo Beach foreclosures

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.

Redondo Beach foreclosures

Redondo Beach Foreclosures on the Rise?

By Keith KyleRedondo Beach foreclosures

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.

2 Single Family Foreclosure Opportunities

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.

2517 184TH ST, Redondo Beach 90278

 

2701 182nd PL, Redondo Beach 90278

 

 

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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

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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.