Redondo Beach Real Estate: Foreclosure Update

As of September 5 there are 14 REO homes for sale in Redondo Beach.  We are surprised that 6 of these are listed in North Redondo and 8 in 90277. (Scroll down to view the link to the foreclosure list on a map).

Our "pick of the week" of this group would have to be 239 Calle Miramar in South Redondo. This condo-townhome first hit the market as new construction as of January 2008 for a tidy $1,790,000. It is now listed at $1,075,000. Certainly worth the 2 year wait! Actually we think the listing agent has priced it correctly for the current market. The property is approximately 2500 sq ft and is very close to the beach. If someone could pick this up for under $1M it is certainly very attractive. Even at the current price you are under replacement cost.

We also continue to like the condo-townhouse at 2413 Rockefeller Ln Unit A in North Redondo Beach and in fact are surprised that it is still showing as an active MLS listing although by the time you read this blog post it may very well be in escrow. Same comments hold true for 2513 Grant Ave Unit C also in 90278. Both seemed priced appropriately by the agent but possibly in this realty market, buyers are looking for more of a deal on foreclosure listings in return for dealing with the one-sided nature of the transaction including the bank addendum that the listing agent forces on the buyer.

For those buyers looking for a slightly different kind of deal on a foreclosure, this single family residence fixer on Kingsdale across from the South Bay Galleria almost rises to the level of "urban legend". Truthfully, our opinion is that this home for sale in North Redondo Beach is priced at slightly below land value and would probably require a cash buyer as it certainly would not qualify for either FHA or VA financing. In that regard, the agent priced it appropriately at $354,000. 

To view all of the bank owned REO homes for sale in 90277-90278, click here for the Redondo Beach Foreclosure list and see the MLS results displayed on the map. You can also search the entire foreclosure list of Los Angeles area bank owned properties, short sales, NODs, and auctions including condo, townhouse, and single family residence homes for sale (including those not yet on the market or in the MLS).