Currently in Manhattan Beach, there are 10 bank owned properties but only 3 REOs listed for sale. there are also 31 headed for auction and 23 with NODs. That means there is a shadow or hidden inventory of at least 7 homes that 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.
If you are interested in receiving a Market Snapshot for Manhattan Beach, click here.