Manahattan Beach Real Estate Foreclosure Update: Should you buy a Short Sale or REO? Condo, Townhouse, and Single Family Detached Residence Property for Sale. MLS Listings.

 Foreclosures have very much been in the news the last few weeks. Here's a brief recap of what has happened and what we know as of today. We are also tracking the twists and turns on our sister sites: www.socalistings.com and www.socalupdates.com.

Last month, it came to light that it is a fairly common practice for a number of loan servicers (ie the Bank you send your payment to) to foreclose on delinquent homeowners without properly reviewing the documents. Specifically, in the 23 judicial foreclosure states that require court approval, foreclosures were proceeding although the party signing off had not actually read the supporting documents. This practice quickly became dubbed "robo-signing" and a number of institutions suspended property foreclosures in those states.

A few days later, BofA announced a foreclosure moratorium in all 50 states. That news was quickly followed up by 50 state AGs announcing a coordinated effort to potentially litigate the matter. All this news spawned hope for those in the foreclosure process that they would be eligible for permanent modifications either in the form of principle reductions or drastically lowered interest rates. But, before you could blnk, BofA announced after ten days that they would continue in the 23 non judicial states while they reviewed their paperwork in the foreclosure process in the other states (including CA). You may be wondering at about this point what this has to do with Manhattan Beach Real Estate.

This blog site is dedicated to Manhattan Beach Real Estate (90266) and closely related topics. Recently we have received a number of inquiries as to how Manhattan Beach Real Estate is faring compared to other neighboring areas in regards to short sales and REOs. The following searches compare the availability of pre-foreclosure short sales and bank owned REO foreclosure MLS listings for sale in the Beach Cities, Palos Verdes, and the greater South Bay. The numbers of homes for sale after each link indicate available property inventory as of this post but your results will update in real time depending on when you run the MLS searches and the numbers of homes for sale may vary. All property types are included in each search: condos, townhomes, single family detached residences, etc. All price ranges and property types are included. Remember - you can also modify and save your search results and drill down to the specific property type condo, townhouse, SFR, etc.

Scroll down after the searches for our further analysis and comments. To run our map based best of breed MLS search in full screen mode to find homes for sale in the Los Angeles area click here.

Beach Cities pre-foreclosure Short Sale MLS Listings - Find Homes for Sale
El Segundo pre-foreclosure condo, townhouse, SFR short sale MLS listings 2 homes for sale
Manhattan Beach pre-foreclosure condo, townhouse, SFR short sale MLS listings 12 homes for sale
Hermosa Beach pre-foreclosure condo, townhouse, SFR short sale MLS listings 16 homes for sale
Redondo Beach pre-foreclosure condo, townhouse, SFR short sale MLS listings 62 homes for sale

Palos Verdes pre-foreclosure Short Sale MLS Listings - Find Homes for Sale
Rancho Palos Verdes pre-foreclosure condo, townhouse, SFR short sale MLS listings 22 homes for sale
Rolling Hills Estates pre-foreclosure condo, townhouse, SFR short sale MLS listings 8 homes for sale
Rolling Hills pre-foreclosure condo, townhouse, SFR short sale MLS listings 1 home for sale

Greater South Bay pre-foreclosure Short Sale MLS Listings - Find Homes for Sale
Torrance pre-foreclosure condo, townhouse, SFR short sale MLS listings 140 homes for sale
Hawthorne pre-foreclosure condo, townhouse, SFR short sale MLS listings 70 homes for sale
Gardena pre-foreclosure condo, townhouse, SFR short sale MLS listings 90 homes for sale
Lawndale pre-foreclosure condo, townhouse, SFR short sale MLS listings 34 homes for sale
Lomita pre-foreclosure condo, townhouse, SFR short sale MLS listings 12 homes for sale
Inglewood pre-foreclosure condo, townhouse, SFR short sale MLS listings 130 homes for sale
San Pedro pre-foreclosure condo, townhouse, SFR short sale MLS listings 83 homes for sale

Beach Cities Bank Owned REO MLS Foreclosure Listings - Find Homes for Sale
El Segundo bank owned condo, townhouse, SFR REO MLS foreclosure listings 2 homes for sale
Manhattan Beach bank owned condo, townhouse, SFR REO MLS foreclosure listings 4 homes for sale
Hermosa Beach bank owned condo, townhouse, SFR REO MLS foreclosure listings 3 homes for sale
Redondo Beach bank owned condo, townhouse, SFR REO MLS foreclosure listings 10 homes for sale

Palos Verdes Bank Owned REO MLS Foreclosure Listings - Find Homes for Sale
Rancho Palos Verdes bank owned condo, townhouse, SFR REO MLS foreclosure listings 7 homes
Rolling Hills Estates bank owned condo, townhouse, SFR REO MLS foreclosure listings
Rolling Hills bank owned condo, townhouse, SFR REO MLS foreclosure listings
  
Greater South Bay Bank Owned REO MLS Foreclosure Listings - Find Homes for Sale
Torrance bank owned condo, townhouse, SFR REO MLS foreclosure listings 33 homes for sale
Hawthorne bank owned condo, townhouse, SFR REO MLS foreclosure listings 22 homes for sale
Gardena bank owned condo, townhouse, SFR REO MLS foreclosure listings 27 homes for sale
Lawndale bank owned condo, townhouse, SFR REO MLS foreclosure listings 9 homes for sale
Lomita bank owned condo, townhouse, SFR REO MLS foreclosure listings 4 homes for sale
Inglewood bank owned condo, townhouse, SFR REO MLS foreclosure listings 40 homes for sale
San Pedro bank owned condo, townhouse, SFR REO MLS foreclosure listings 31 homes for sale


Conclusions: As you look at the other cities listed above, the relationship should be apparent that the larger the city, the more prices inflated before the housing crash, the greater number of pre-foreclosure short sales and REOs you will find. Conversely, where prices may be higher and the potential losses greater to the investor, there seems to be less of a willingness to foreclose.

Our advice for those looking at purchasing a REO foreclosure is to make sure that you have the right title insurance issued by a reliable title insurer. If you have questions regarding the title insurance being offered to you check with your real estate agent, the title insurance rep, or an attorney. Foreclosure buyers, proceed with caution until the foreclosure mess gets sorted out.

If you are contemplating buying a short sale in Manhattan Beach or anywhere else for that matter, the same advice hold true. In these times, more than before, "buyer beware" is the best rule of thumb.

Looking for a standard sale in Manhattan Beach. Check out the predefined searches to the right or click on any of the following links: Manhattan Beach Sand Section, Manhattan Beach Hill Section, Manhattan Beach Tree Section, East Manhattan Beach Mira Costa area, East Manhattan Beach Heights and Liberty Village. These results will display all property types, condos, townhomes, single family detached residences in all price ranges. To search for all property type homes in the South Bay or the Westside visit www.socalistings.com.

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