Redondo Beach Bank Owned Foreclosure Homes for Sale

Bank Owned REO Foreclosure homes have made a bit of a comeback in recently in North Redondo Beach after almost disappearing from the Real Estate market for much of 2012. In fact, this week alone saw 2 new REO MLS listings. As of the posting of this blog entry, there are 4 active REO listings and 3 foreclosures in escrow.

Now that David Judd has started listing foreclosures in Redondo Beach (2 currently), we're seeing the addition in the agent remarks (not visible to the public on websites such as Redfin, Realtor.com, Trulia, etc) the "Buy it Now" price or "Buyer's Premium". For example, on 1719 Huntington Ln which is listed for $800,000 in the MLS, there is a "Buyer's Premium" to "Buy it Now" of $33,840. For 2004 Voorhees Av Unit B which is listed in the MLS at $630,000, there is a "Buyer's Premium" of $26,370. This particular listing agent also makes the buyer of their agent responsible for the turing on of all utilities and payment of a $299 web technology fee.

For those not familiar with David Judd, he is a prolific REO listing agent. We've seen his listings everywhere from Palm Springs to Orange County to the Valley. You can always tell his listings by the property description which often states no more than "PROPERTY SOLD AS IS WITHOUT REPAIR OR WARRANTY." Yes, in caps. They are listed as REO and AUC (auction) in the MLS. Our dealings with him have gone smoothly or as smooth as can be expected in a REO transaction with a high volume listing agent. He even personally called back once. 

As of this date in mid November, there have been 26 bank owned REO foreclosure homes sold in North Redondo Beach. Currently there are 4 active in the MLS and 3 in escrow. By comparison there have been 20 REO foreclosures sold in South Redondo Beach, 5 foreclosure sales in Manhattan Beach, and 10 in Hermosa Beach, CA. So as a buyer, if your strategy has been to get a deal on a foreclosure in the South Bay Beach Cities, that may have limited effectiveness. 

Follow this link for lists of pre-foreclosure properties, bank owned short sales, auctions, and REO's in Redondo Beach CA, 90278.