Realbuyer, Home Buyer in Manhattan Beach, CA

what is the best way to find a foreclosure in manhattan beach?

Asked by Realbuyer, Manhattan Beach, CA Sat Oct 3, 2009

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Our web site has a page devoted to foreclosure properties in the Beach cities and general MLS search allows you to see only foreclosures, REO's, etc in any given area if you check the right boxes -- no need to subscribe to a separate service!

However, don't limit yourself to foreclosures -- these can be very difficult to actually close on as the banks are very backed up and seemingly take forever to respond. Instead, tell your Realtor what you are looking for and in what price range and let us find the right property for you, whether that is a foreclosure, short sale, REO, or just a well priced home!
0 votes Thank Flag Link Wed Jan 6, 2010
The best way to find a foreclosure, is to be in touch with someone who deals with the banks directly. The banks hold shadow inventory (inventory that is deliberately being held back from the public, so as not to flood the market and cause the market to plunge). On a recent conversation with Chase, they aknowledged that 8000 foreclosures are occurring a day.

After the foreclosure happens (at the trustee sale) it could take several months for the property to get onto the market via the MLS. Only certain agents deal directly with the banks.

The banks also don't care to deal directly with the public. I work with many of these agents, so if you're interested in getting some lists, give me a call.

Mandy Akridge
Keller Williams Realty 310-409-8592
0 votes Thank Flag Link Tue Dec 8, 2009
Whether it is Manhattan Beach, or any community - the best way to locate a foreclosure is to sign up for a program that co-ordinates public records information such as Notice of Defaults or Notice of Trustee's Sale - that way you will know what is coming up.
If it is offered for sale at the Trustee's Sale, and no investor buys it, the lender will take it back and usually give it to a local broker to market and sell - which is what most buyers consider to be a "foreclosure". In reality, even in a slower market, these are almost non-existent in Manhattan Beach. There are however, presently "Short Sales" available for sale in MB - where the lender has agreed to accept less than the amount owed on the loans on the propery.
If you would like to search for homes for sale in Manhattan Beach - including Short Sales click the link below.
Let me know if i can help. ManhattanBeachRE.com
Colin Campbell
Platinum Properties
DRE # 01184302
0 votes Thank Flag Link Sat Oct 24, 2009
Hi Realbuyer,

There's really only one place to find all the the short sales and REO properties for sale, on the local Multiple Listing Services along with almost every other property for sale that's not a FSBO (for sale by owner,) or courthouse steps sale. Pretty much any other source of information is derived from or duplicates these listings. The easiest way to to shop for real estate is to get a good agent and watch for new listings as they become available. The commissions are going to be built into the sale anyway so you should take advantage of this and get your own professional representation. You'll also need to pre-qualify yourself for financing so you're prepared to act decicively when you find a good deal. It doesn't matter whether it's a 'forclosure' or not.

Best of luck.
0 votes Thank Flag Link Mon Oct 5, 2009
Hi there Real Buyer. The best thing you can do is to interview and hire an experienced agent who can help and postion you to be in a position to be picked versus being one of 25 offers or more which is the case with most of the good foreclosures.
There is a science to having success with bank owned properties and you need a professional in your corner

If you are serious and interested in saving money, then drop me a line
Kind Regards
Michael Barron
Realtor/MBA
First Team Real Estate
0 votes Thank Flag Link Sun Oct 4, 2009
Dear Real,
Yes, you do need an excellent buyer agent who can work with you on foreclosure property. I recommend you begin interviewing buyer agents!
0 votes Thank Flag Link Sat Oct 3, 2009
The best thing to do is to work with a great local Realtor who can help you find one. Locating one is the easy part, it's getting through the purchase process that can be challenging and having someone working for you is important.
0 votes Thank Flag Link Sat Oct 3, 2009
Are you looking for a home that is going into foreclosure, but is not yet owned by the bank? That is a difficult and risky way to acquire a home, and does require all cash.

If you are looking for an REO (Real Estate Owned) home, which is a home that the bank foreclosed on and it was not purchased at the courthouse steps, then you want to find a professional realtor that works the South Bay. These homes are sold by the banks through the MLS and a local realtor will find them for you.

If you want to contact me, I would be happy to explain the various options to you in detail.

Michael Magaw
M@NHLBrokers.com
310.259.6850
0 votes Thank Flag Link Sat Oct 3, 2009
There are two available right now (click the link below to view the properties). You can also go to my website SouthBayOpenHouse.com, click on "property search" then click on "search foreclosures" by zip code 90266. If you would like to take a look at either of these two properties, please let me know.
Sincerely,
Kristen Novoa, Realtor, M.A., Notary, CIPS, Director SBAOR
Shorewood Realtors
310.798.4663
0 votes Thank Flag Link Sat Oct 3, 2009
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