Redondo Beach Shadow Inventory

You may have read about the concept of "shadow inventory". That term refers to the backlog of properties in some stage of foreclosure versus what is actually listed for sale at any given time. In many areas, what may hit the market so far exceeds what is currently on the market that it can certainly point to a sever decline in prices.

Currently in Redondo Beach, there are 19 bank owned properties but only 2 REOs listed for sale (2601 Ralston Lane and 853 Ave B). That means there is a shadow or hidden inventory of 17 homes which will hit the market sometime in the next 90 days. Why 90 days? That is usually the max timeframe for eviction, BPOs and the other gnarly aspects of preparing a repossessed property for sale.

If you are thinking of buying a foreclosure, either as an investment property or a primary residence, then knowing what is going to hit the market before it appears in the MLS can give you a great competitive advantage - particularly if you can get in to see the property early.

To search the shadow inventory for Redondo Beach go to http://www.socalistings.com/ or send an email requesting the list to socalistings@yahoo.com.