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.