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.