Redondo Beach foreclosures

Is the world of short sales and REOs a little fishy…or is it just me?

Unfortunately, I realize that we are in a profession in which ethical standards doRedondo Beach foreclosures not mean much to everyone. Fortunately being in a high end market in Redondo Beach CA, the bulk of the realtors that I work with and encounter are very professional and seem to put their clients needs ahead of their on on most occassions. One thing that’s hard not to notice is that with the increase in bank owned foreclosures and short sales, the number of out of area listing agents has increased and that hasn’t always been a good thing. Although I don’t always agree with it, the seeming lack of effort…from terrible photos or even no photos at all, unclear showing instructions, to poor, vague or confusing descriptions, etc can perhaps be justified, and I can convince myself that’s something they’ve come to an agreement with the sellers on. Today was one of those days, however, that just makes me want to pick up the phone and call someone to tell them they’re getting poor representation….or worse. Today 3 short sales came on the market in my fairly high end market. All three were priced far too low and to my surprise (ok that’s sarcastic) all three immediately went off the market after being listed. One of the properties not only had no description or showing information, the picture of the home wasn’t the home, and was of a home likely 15 years older and very run down. The second home went on hold shortly after being listed (which it had done a month ago the first time) and had a photo from about 10 years ago the 3rd went pending 8 minutes after being listed. Now I understand that there MAY be circumstances in which something like this may occur but 3 in one day? And yes all three agents were from out of the area.

Redondo Beach foreclosures

South Bay Short Sales Not the “Deals” They Once Were

It wasn’t too long ago that most buyers had heard all of the horror storiesRedondo Beach foreclosures involved with short sales and wouldn’t go near them.  In many conversations I explained to buyers that if they were looking for a “deal” a short sale was definitely the way to go.  Unfortunately that just doesn’t seem to be the case any longer as short sale inventory is almost non-existent.  According to Keith Kyle, a South Bay short sale specialist, “it’s a combination of lower inventory and a much more streamlined short sale process in which most short sales are going through.  No longer are buyers overly cautious about potential short sales taking 6 months or more like they had in the past.”

While short sale may not be the bargain they once were, they still are the likeliest source of well priced homes if and when you can find them.  For a current list of foreclosures visit either our Redondo Beach foreclosures site, or our South Bay foreclosures and short sales listings.

The above chart shows the “for sale” distressed homes in light green, sold homes in teal, and pending sales in red over the past 10 years.   Needless to say there’s certainly not an abudance these days.

ARE YOU INTERESTED

IT'S TIME TO DISCOVER

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

ENQUIRE

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.