The number of homes sold in Southern California rose modestly last month from both October and a year earlier as investors and first-time buyers targeted homes priced below $400,000. Sales above $500,000 fell nearly 16 %from a year earlier amid a troubled market for larger home loans, a real estate information service reported. A total of 16,884 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in November. That was up 0.3 %from 16,829 in October and up 4.2 %from 16,208 in November 2010, according to San Diego-based DataQuick. While November sales of existing (not new) houses and condos combined rose 5.8% from a year earlier, sales of newly built homes fell 15.2% to the lowest level on record for a November. "'Tis still the season to go bargain hunting -- or at least that's what the November home sales data suggest. The portion of homes sold to investors continued to hover near an all-time high. Lower prices and amazingly low mortgage rates tempted those with the confidence to buy and the ability to qualify for a loan, or to pay cash," said John Walsh, DataQuick president. "But these sales levels remain subpar, with new-home sales stuck at record lows. Part of it is the economy and would-be buyers' uncertainty -- about jobs, home prices and a potential surge in foreclosed properties hitting the market. Part of it is the folks who can't move up because they're upside down with their mortgages. And many who want to buy more expensive homes struggle with the financing." When viewed by price segment, sales trends varied considerably. The number of homes that sold for less than $400,000 last month rose 6.1% from a year earlier, while transactions above $500,000 fell 15.7%. Above $800,000, sales fell 17.6% year-over-year. November sales fell 22.8% from a year earlier in the $600,000-$750,000 range, which in coastal counties was impacted by the recent lowering of conforming loan limits.

How to Buy Real Estate in Southern California

California home buyers today know more about the property they are buying than at any time in history due to the abundance of disclosures they receive throughout the transaction as well as legislation enacted to protect home buyers. But, if you're like most people, somewhere during the process you'll be so worn out by signing and initialing that you'll probably stop reading what is put in front of you and do anything to just get the keys. Which is why you need an experienced full time licensed agent to help you through the process. Here's how it works.

The Offer: After weeks, months, or years of going to open houses, browsing websites, looking in newspapers and who knows what else, you finally find the home of your dreams. Yeah, congratulations, but don't start packing to move just yet. There's a few steps along the way starting with the offer. What is commonly referred to as the offer is, in fact, the "RPA" or Residential Purchase Agreement that is used in most real estate transaction in California. This document becomes the basis for the escrow instructions and the processor and underwriter at your lender will scrutinize the terms and conditions as well. So, after thinking about price for the longest time and speculating with friends, family, co-workers and agents as to whether home prices are going up or down, what you'll soon come to understand, if you have good representation, no let's make that a great agent is that the terms and conditions, which are incorporated into the offer, "purchase contract" or RPA may be as important or even more important than the purchase price. Really. Here's some examples. Let's say your real estate agent forgets to include that the seller pays for termite work, or repairs, or certain reports or closing costs. Guess who gets stuck with those items? Not the agent and not the seller. Just remember you need an experienced real estate agent to protect you throughout this process. Just remember that unless your offer is in writing , it means nothing in CA. So, if you go into a home and the listing agent or whoever is holding an open house indicates that the seller will take your low ball offer, that means nothing. Offers to purchase must be in writing as must acceptance and just about everything else related to the transaction. 

The Counter Offer:  Unless you are offering full price or more, all cash, with no contingencies (what's a contingency you wonder - read below), and want to close in ten days, chances are you might receive a counter offer from the seller. The counter offer can be on terms, or price, or both. If the property you are interested in buying is highly desirable, there may be multiple offers. And, since this is CA Real Estate, everything must be in writing. If the seller has multiple offers and is responding to more than one buyer, they will check off the multiple offer box on the counter offer form. That means that even if you accept the counter offer and sign, you may not get the property. Sellers do not have to counter the same price, terms and conditions to all buyers. If you aren't in a multiple counter offer situation, it's easier.  

Acceptance: Once the terms are ironed out, and both parties have signed and agreed on the price and terms you have "acceptance". The date and time of acceptance is very important as many of the timelines in the RPA are calculated as days after acceptance. Sounds confusing? Not really. If you have 7 days after acceptance to complete a contract requirement, just grab a calendar, look at the acceptance date and starting on the next day after, count 7 days.

Want to read more and learn how to get your closing costs paid?

HARP: The Home Affordable Refinance Program

Today, it was announced that the government would be expanding the HARP program to include more underwater borrowers. The problem is that as currently construed only loans currently guaranteed by Fannie and Freddy will qualify. Whoops. That eliminates most of the higher dollar amount, interest only or neg am, NINJA product sold in CA (except for maybe the Inland Empire and does anyone there really want to refi anyway?). 

A randomly check of a few dozen properties and guess what, none qualify.

HARP fails to address the major issue for upside down borrowers: they owe more than the house is worth. Will borrowers refi properties that will never be worth what they owe just to save a few hindred dollars a month when a strategic default or short sale makes more sense? That remains to be seen.
Here's how NAR rolled this out to it's member Realtors.

HARP Refinance Program Expanded

Borrowers who are current on their home loans may be able to refinance for lower interest rates, even if they are seriously upside down.  The Federal Housing Finance Agency (FHFA) announced today that it will broaden the scope of the Home Affordable Refinance Program (HARP) by removing the current 125 percent loan-to-value cap for fixed-rate mortgages backed by Fannie Mae and Freddie Mac.  Other program enhancements include, among other things, reducing certain fees, eliminating the need for a new property appraisal if the FHFA has a reliable automated valuation model (AVM) estimate, and extending HARP until the end of 2013.  New federal guidelines for the HARP changes should be released to mortgage lenders and servicers by November 15.

The basic eligibility requirements for an enhanced HARP loan are as follows:

• Existing mortgage loan must be owned or guaranteed by Fannie Mae or Freddie Mac.  To check whether a borrower has a Fannie Mae or Freddie Mac loan, go to http://www.makinghomeaffordable.gov/get-assistance/loan-look-up/Pages/default.aspx.
• Existing mortgage loan must have been sold to Fannie Mae or Freddie Mac before June 1, 2009.
• Existing mortgage loan cannot have been refinanced under HARP previously (except for Fannie Mae loans refinanced between March and May 2009).
• Current loan-to-value (LTV) ratio must be more than 80%.
• Existing mortgage loan must be current, with no late payments in the past six months, and no more than one late payment in the past 12 months.

If the new guidelines aren't released to the lenders until mid November, maybe they implement them by Jan 1, 2012 if we're lucky. Stay tuned for updates as they become available.

Real Estate Market Trends and Prices

The following charts incorporate all the sales in LA County reported through the MRMLS (MLS serving the individual associations such as The South Bay Association of Realtors). The trend we are seeing is fairly consistent with analysis we have done for many individual markets. Specifically, inventory is declining, sales are fairly stable, pendings are increasing, and inventory is declining. Considering that in real estate, perception usually follows reality by six months, buyers should be aware that prices are stabilizing and desirable properties that are priced right will sell quickly. Good news for sellers, not so good for buyers.

Date	6/10	7/10	8/10	9/10	10/10	11/10	12/10	1/11	2/11	3/11	4/11	5/11	6/11	7/11	8/11
For Sale	8683	9233	9371	9536	9311	9059	8121	8411	8295	8095	7949	7517	6786	6785	6729
New Listing	2726	2864	2708	2608	2288	2113	1694	2608	2311	2858	2532	2706	2737	2645	2483
Sold	1692	1448	1431	1325	1265	1239	1416	1081	1026	1516	1450	1427	1569	1445	1515
Pended	1465	1367	1407	1210	1238	1262	1024	1126	1310	1543	1550	1650	1615	1600	1895
Months of Inventory (Closed Sales)	5.1	6.4	6.5	7.2	7.4	7.3	5.7	7.8	8.1	5.3	5.5	5.3	4.3	4.7	4.4
Months of Inventory (Pended Sales)	5.9	6.8	6.7	7.9	7.5	7.2	7.9	7.5	6.3	5.2	5.1	4.6	4.2	4.2	3.6
Absorption Rate (Closed Sales) %	19.5	15.7	15.3	13.9	13.6	13.7	17.4	12.9	12.4	18.7	18.2	19	23.1	21.3	22.5
Absorption Rate (Pended Sales) %	16.9	14.8	15	12.7	13.3	13.9	12.6	13.4	15.8	19.1	19.5	22	23.8	23.6	28.2
Avg. Active Price	570	566	555	541	534	519	505	511	519	534	547	568	600	608	608
Avg. Sold Price	461	478	457	483	464	446	454	441	436	466	453	498	476	473	457
Avg. Sq. Ft. Price	292	292	290	295	293	276	282	279	274	280	280	300	289	290	282
Sold/List Diff. %	98	98	98	97	97	97	97	97	97	97	97	96	97	96	97
Sold/Orig LP Diff. %	96	95	96	94	94	94	93	93	93	93	94	92	93	92	94
Days on Market	60	61	60	60	64	69	69	77	81	81	77	77	73	71	71
Median	352	350	352	365	335	340	345	330	330	340	345	340	340	350	325

Shorewood Realtors: Beach Cities Powerhouse Real Estate Brokerage

If you live, work, hang out, or just visit The Beach Cities (Manhattan Beach, Redondo Beach, Hermosa Beach, and El Segundo) you've certainly seen Shorewood Realtors blue "Sign of Success" hanging in front of houses for sale. A lot of houses if truth be told. Here's some more information about Shorewood Realtors you might find useful if you want to buy or sell Manhattan Beach Real Estate, Hermosa Beach Real Estate, Redondo Beach Real Estate or El Segundo Real Estate.

Shorewood Realtors is one of the most dominant residential Real Estate brokerages in the South Bay with over 350 active Real Estate agents. Shorewood Realtors has come a long way since founder and co-owner Arnold Goldstein opened the first office in 1969 in Hermosa Beach not far from where his office is located today.

Shorewood Realtors has 7 offices in total plus an affiliated escrow company, Brighton Escrow in Hermosa Beach. In addition to the Redondo Beach Shorewood office, there are two Hermosa Beach Shorewood Realtors offices, 2 Shorewood Realtors offices in Manhattan Beach, and one each in El Segundo and on the Palos Verdes Peninsula. The corporate headquarters as well as property management and the agent training facility are located in Manhattan Beach. The management team is rounded out by Larry Wolf the other co-owner and Mike Collins, Shorewood Realtors General Manager both of whom are located at the Manhattan Beach corporate office.

Shorewood Realtors typically ranks in the top 50 national real estate firms based on sales volume (although for 2010, Shorewood was #69). Individual agent production is very high with Shorewood Realtors ranking number 36 in the country for individual real estate agent production and number 8 for average real estate agent sales.

Shorewood maintains a unique dominant market position in the Beach Cities and throughout the greater South Bay in all market segments including price and property type (condo, townhouse, single family home).

For example, over the last 12 months, Shorewood Realtors sold 629 properties in the four Beach Cities. Of these, 344 were Shorewood Realtors listings and Shorewood Realtors represented buyers in 285 other transactions. In terms of total sales, this is a 21% market share. As for dollar volume, ($778M), that's a 24.2% share. With 148 current listings, Shorewood is representing 22.2% of the sellers on the market and attaining a sale price of 95.5% of list price in the MLS. Any business in any industry would be very proud of those numbers. Shorewood Realtors has a larger market share in The Beach Cities than the next 3 brokerages combined in many categories.

So, what does that mean for you if you choose a Shorewood real estate agent? Well, that depends on whether you are buying or selling Beach Cities Real Estate. As a buyer, you will get the "inside track" on Shorewood Realtors listings and often get a heads up days before a property hits the MLS or before there is a price reduction. This can be the crucial difference between successfully securing a home or missing out. As a seller, your listing gets high visibility among the Shorewood Realtors agent community through the daily "NTS" email that goes out to 350 Shorewood agents, Shorewood Caravan and myriad other ways this networked group of professional Realtors work with each other. (Realistically, your buyer will not be represented by your listing agent which is why agent cooperation is paramount.) Additionally, because of Shorewood Realtors high visibility in the local real estate community, there are various other resources at your disposal to assist in the transaction such as home and pest inspectors, title companies, lenders, contractors and escrow officers. Call 310 975 5139 to buy or sell Beach Cities Real Estate with a Real Estate Agent from Shorewood Realtors.

Expect Declining Home Prices and Rising Rents

If the results of Fannie Mae's recent survey accurately portray their attitudes, Americans appear to have increasingly realistic expectations of the housing market.   Data from the June survey indicate that Americans are resigned to lower house prices and higher rents and have come to expect rock bottom interest rates.

The Fannie Mae National Housing Survey polls 1,000 home owners and renters each month to assess their attitudes toward owning and renting a home, mortgage rates, homeownership distress, household finances, and overall consumer confidence then compares the results to answers to the same survey conducted monthly since June 2010.

Respondents' expectations regarding home prices have plummeted since the May survey.  At that point Americans expected home prices to increase an average of 0.7 percent over the next 12 months.  In the June survey the expectation was for a 0.5 percent decline.  This is only the second time in the 13 months of the survey that respondents projected a decline in prices.  In August the average expected price change was less than -0.01 percent. The number of Americans who expect prices to rise dropped 6 points to 22 percent while there was a 6 point rise in the numbers who expect it to drop, now 25 percent.  Forty-nine percent anticipate no change; identical to May.

 In light of this, our advice for buyers is to remain focused on bank owned REO foreclosures when you can find one. That's becoming more and more difficult as the REO asset managers have tightened up the flow of available properties. We've seen REOs priced at fair market value and in some instances above, but there are enough real deals to be found that it's worth the hassle of dealing with the banks.

Manhattan Beach REO Foreclosure MLS Listings condos townhomes houses
Hermosa Beach REO Foreclosure MLS Listings condos townhomes houses
Redondo Beach REO Foreclosure MLS Listings condos townhomes houses
El Segundo REO Foreclosure MLS Listings condos townhouses houses
Rancho Palos Verdes REO Foreclosure MLS Listings condos townhouses houses
Rolling Hills REO Foreclosure MLS Listings condos townhomes houses
Rolling Hills Estates REO Foreclosure MLS Listings condos townhomes houses
Torrance REO Foreclosure MLS Listings condos townhouses houses
Lomita REO Foreclosure MLS Listings condos townhomes houses
San Pedro REO Foreclosure MLS Listings condos townhomes houses
Hawthorne REO Foreclosure MLS Listings condos townhomes houses
Gardena REO Foreclosure MLS Listings condos townhomes houses
Lawndale REO Foreclosure MLS Listings condos townhomes houses
Inglewood REO Foreclosure MLS Listings condos townhomes houses
Carson REO Foreclosure MLS Listings condos townhomes houses 
Culver City REO Foreclosure Listings MLS
Palms-Mar Vista REO Foreclosure Listings MLS
Santa Monica REO Foreclosure Listings MLS
Venice REO Foreclosure Listings MLS
Marina Del Rey REO Foreclosure Listings MLS
Playa Del Rey REO Foreclosure Listings MLS
Playa Vista REO Foreclosure Listings MLS
Westchester REO Foreclosure Listings MLS
Beverly Hills REO Foreclosure Listings MLS
Bel Air - Holmby Hills REO Foreclosure Listings MLS
Hancock Park REO Foreclosure Listings MLS
Westwood - Century City REO Foreclosure Listings MLS
Pacific Palisades REO Foreclosure Listings MLS
Malibu Foreclosure REO Listings MLS

HAFA SHORT SALE UPDATE

Previously we have posted information about the HAFA Short Sale program. Click Here to read the article. While HAFA is less than optimal, it is still our preference as a short sale in most instances. As we mentioned in the earlier blog post, "The Home Affordable Foreclosure Alternatives Program, referred to as HAFA or HAFA short sale, offers homeowners an easier path and various incentives for completing a short sale rather than letting the bank foreclose on their home. It is hoped that HAFA can help to standardize a process that until now has been difficult and unpredictable in many instances.  Homeowners who opt for a HAFA resolution typically do not qualify for a trial modification under HAMP, have not successfully completed their trial period, or simply want to sell as an alternative to foreclosure."

 
The HAFA program took effect on April 5, 2010 and sunsets on December 31, 2012. Here's an update as to how this program is doing.

Servicers completed 1,666 short sales and deeds-in-lieu (DIL) of foreclosure under the Home Affordable Foreclosure Alternatives (HAFA) program in April. That’s up 73.7 percent from the 959 HAFA transactions completed the month before.

HAFA has been in place since April of 2010. According to Treasury’s latest report, which covers program activity through April of this year, a total of 7,113 short sales and DILs have concluded through HAFA.

Treasury says another 7,780 HAFA transactions have been started, meaning an agreement has been put in place between the servicer and the homeowner for terms of a potential short sale of DIL.
Treasury notes that a short sale typically takes 120 days to complete under the program. The number breakdown in the report doesn’t specify how many of the HAFA “starts” are still in process or may have been withdrawn. Any short sale also requires the cooperation of a third-party purchaser, junior lien holders, and mortgage insurers to complete the transaction.

The latest data show that the 10 largest servicers participating in the federal government’s foreclosure prevention programs have completed a short sale or DIL for 82,995 borrowers who did not qualify for a Home Affordable Modification Program (HAMP) trial and 31,048 borrowers whose trial plans were canceled, indicating that servicers are employing their own short sale programs to avert foreclosure for borrowers that don’t fit the mod equation.

Critics of HAFA have urged Treasury to raise the monetary incentive for servicers, investors, and subordinate lien holders, citing low payouts as a common reason HAFA short sales are rejected.

For more information, please feel free to call or email.

South Bay Short Sales: Condos, Townhomes, Houses

El Segundo pre-foreclosure condos, townhouses, single family homes MLS listings
Manhattan Beach pre-foreclosure condos, townhouses, single family homes MLS listings
Hermosa Beach pre-foreclosure condos, townhouses, single family homes MLS listings
Redondo Beach pre-foreclosure condos, townhouses, single family homes MLS listings
Rancho Palos Verdes pre-foreclosure condos, townhouse, SFR MLS listings
Rolling Hills Estates pre-foreclosure condos, townhouses, SFR MLS listings
Rolling Hills pre-foreclosure condos, townhouses, single family homes MLS listings
Torrance pre-foreclosure condos, townhouses, single family homes MLS listings
Lomita pre-foreclosure condos, townhouses, single family homes MLS listings
San Pedro pre-foreclosure condos, townhouses, single family homes MLS listings
Gardena pre-foreclosure condos, townhouses, single family homes MLS listings
Lawndale pre-foreclosure condos, townhouses, single family homes MLS listings
Hawthorne pre-foreclosure condos, townhouses, single family homes MLS listings
Inglewood pre-foreclosure condos, townhouses, single family homes MLS listings
Carson pre-foreclosure condos, townhouses, single family homes MLS listings

Westside Short Sales: Condos, Townhouses, Houses

Culver City pre-foreclosure condo, townhouse, SFR short sale MLS listings
Palms-Mar Vista pre-foreclosure condo, townhouse, SFR short sale MLS listings
Santa Monica pre-foreclosure condo, townhouse, SFR short sale MLS listings
Marina Del Rey pre-foreclosure condo, townhouse, SFR short sale MLS listings
Playa Del Rey pre-foreclosure condo, townhouse, SFR short sale MLS listings
Playa Vista pre-foreclosure condo, townhouse, SFR short sale MLS listings
Westchester pre-foreclosure condo, townhouse, SFR short sale MLS listings
Beverly Hills pre-foreclosure condo, townhouse, SFR short sale MLS listings
Bel Air - Holmby Hills pre-foreclosure condo, townhouse, SFR short sale MLS listings
Hancock Park pre-foreclosure condo, townhouse, SFR short sale MLS listings
Westwood - Century City pre-foreclosure condo, townhouse, short sale MLS listings
Pacific Palisades pre-foreclosure condo, townhouse, SFR short sale MLS listings
Malibu pre-foreclosure condo, townhouse, SFR short sale MLS listings

Foreclosure Activity Slows: Search MLS Listings for Short Sales and REOs

Both new foreclosure actions and completed foreclosure sales took a dive in April after rising sharply the month before, according to industry data. 

Foreclosure starts nationwide were approximately 163,000 in April, down 25 percent from 217,000 the prior month, reports the industry alliance HOPE NOW. An earlier assessment by the nonprofit group showed that new foreclosures had increased 21 percent over the February-to-March period.

Finalized foreclosure sales dropped to 73,000 for April, compared with 85,000 in March, representing a decrease of 14 percent. HOPE NOW’s last monthly report pointed to a 35 percent increase in completed foreclosures between February and March.

Loan modification stats showed the same give-and-take. For the month of April, mortgage servicers completed 57,000 permanent proprietary modifications, down 26 percent from 77,000 in March. From February to March, proprietary mods were up 26 percent.

HOPE NOW’s proprietary modification numbers include loans restructured through the private mod programs of individual lenders, Fannie Mae, Freddie Mac, the Federal Housing Administration (FHA), and the Department of Veterans Affairs (VA). The April data does not yet include loan modifications done under the Home Affordable Modification Program (HAMP), which have not been reported for the month.

HOPE NOW says characteristics of the completed proprietary mods remained strong, with more than half reducing principal and interest payments by at least 10 percent and three-quarters providing fixed interest rates of five years or more.

Looking at the performance of proprietary loan modifications over a 12 month period, HOPE NOW says approximately 20 percent of homeowners have re-defaulted after 90 days.
Data on recidivism is based on loans that have performed satisfactorily for at least six months before defaulting again and includes loans modified up to 18 months ago, HOPE NOW explained.

“The characteristics and performance of proprietary loan modifications have remained steady as we view this month’s data,” said Faith Schwartz, HOPE NOW’s executive director. “Performance has remained strong in the areas of principal and interest payment reduction, fixed rate offerings, and recidivism.”

Schwartz says servicers are using more tools at their disposal than ever before to create sustainable modifications for homeowners at risk. She notes, though, that not every homeowner will qualify for a loan modification.

According to HOPE NOW’s report, there were 2.69 million homeowners at least 60 days behind on their mortgage payments at the end of April.

Schwartz says the industry, the non-profit community, and the government have ramped up outreach efforts to educate distressed homeowners about their options, including those who aren’t eligible for a modification and those struggling with unemployment.

“HOPE NOW is convinced that the efforts of its public, private, and non-profit partners to assist at-risk homeowners are making a significant difference during this difficult time for the nation’s housing market,” Schwartz said. “We believe that each additional homeowner helped is worth the effort.”

South Bay REO Listings: Condos, Townhouses, Houses

Manhattan Beach REO Foreclosure MLS Listings condos townhomes houses
Hermosa Beach REO Foreclosure MLS Listings condos townhomes houses
Redondo Beach REO Foreclosure MLS Listings condos townhomes houses
El Segundo REO Foreclosure MLS Listings condos townhouses houses
Rancho Palos Verdes REO Foreclosure MLS Listings condos townhouses houses
Rolling Hills REO Foreclosure MLS Listings condos townhomes houses
Rolling Hills Estates REO Foreclosure MLS Listings condos townhomes houses
Torrance REO Foreclosure MLS Listings condos townhouses houses
Lomita REO Foreclosure MLS Listings condos townhomes houses
San Pedro REO Foreclosure MLS Listings condos townhomes houses
Hawthorne REO Foreclosure MLS Listings condos townhomes houses
Gardena REO Foreclosure MLS Listings condos townhomes houses
Lawndale REO Foreclosure MLS Listings condos townhomes houses
Inglewood REO Foreclosure MLS Listings condos townhomes houses
Carson REO Foreclosure MLS Listings condos townhomes houses

South Bay Short Sales: Condos, Townhomes, Houses

El Segundo pre-foreclosure condos, townhouses, single family homes MLS listings
Manhattan Beach pre-foreclosure condos, townhouses, single family homes MLS listings
Hermosa Beach pre-foreclosure condos, townhouses, single family homes MLS listings
Redondo Beach pre-foreclosure condos, townhouses, single family homes MLS listings
Rancho Palos Verdes pre-foreclosure condos, townhouse, SFR MLS listings
Rolling Hills Estates pre-foreclosure condos, townhouses, SFR MLS listings
Rolling Hills pre-foreclosure condos, townhouses, single family homes MLS listings
Torrance pre-foreclosure condos, townhouses, single family homes MLS listings
Lomita pre-foreclosure condos, townhouses, single family homes MLS listings
San Pedro pre-foreclosure condos, townhouses, single family homes MLS listings
Gardena pre-foreclosure condos, townhouses, single family homes MLS listings
Lawndale pre-foreclosure condos, townhouses, single family homes MLS listings
Hawthorne pre-foreclosure condos, townhouses, single family homes MLS listings
Inglewood pre-foreclosure condos, townhouses, single family homes MLS listings
Carson pre-foreclosure condos, townhouses, single family homes MLS listings

Case Shiller Index: Homes Prices Declining

Today’s release of Case-Shiller reported that the non-seasonally adjusted Composite-10 price index declined 0.62% since February while the Composite-20 index declined 0.77% over the same period falling to the lowest level seen since the Great Housing Collapse commenced in 2006 further indicating that housing is continuing slump into a double-dip.

The latest CSI data clearly indicates that the price trends are continuing to slump and the more timely and less distorted Radar Logic RPX data is continuing to capture notable price weakness nationwide. While some of this data has no relationship to local Los Angeles markets, psychologically it weights heavily on both buyers and sellers. Further, both composite indices are now showing notable year-over-year declines, a weak sign indeed.

The 10-city composite index declined 2.91% as compared to March 2010 while the 20-city composite declined 3.61% over the same period.

Additionally, both of the broad composite indices show significant peak declines slumping -32.98% for the 10-city national index and -33.10% for the 20-city national index on a peak comparison basis.
Maureen Maitland, a S&P vice president, attributed the continued bad news to the varying states of recovery in regional economies, a general lack of confidence in the housing market and an oversupply of homes, including foreclosure inventory that is dragging down prices.

"If you can hang onto a house right now and you don't have to sell, you don't," Maitland said. "All indications are that prices are going to continue to fall."

"This month's report is marked by the confirmation of a double-dip in home prices across much of the nation," said David Blitzer, chairman of the S&P index committee, said. "Home prices continue on their downward spiral with no relief in sight."

When left unadjusted for seasonal variations, 18 out of the 20 cities declined from February to March, with Los Angeles down 0.3%, San Diego down 0.8% and San Francisco falling 0.1%. Seattle, up 0.1%, and Washington, up 1.1%, were the only two cities to post month-over-month gains.]

Although economists say there are many factors in favor of purchasing a home -- including increased affordability and rock-bottom interest rates -- falling prices influence buyer psychology because people don’t want to lose money on an investment that may drop in value in the near term.
Our advice: Buy a Foreclosure or Short Sale.

South Bay REO Listings: Condos, Townhouses, Houses
Manhattan Beach REO Foreclosure Listings MLS
Hermosa Beach REO Foreclosure Listings MLS
Redondo Beach REO Foreclosure Listings MLS
El Segundo REO Foreclosure Listings MLS
Rancho Palos Verdes REO Foreclosure Listings MLS
Rolling Hills REO Foreclosure Listings MLS
Rolling Hills Estates REO Foreclosure Listings MLS
Torrance REO Foreclosure Listings MLS
Lomita REO Foreclosure Listings MLS
San Pedro REO Foreclosure Listings MLS
Hawthorne REO Foreclosure Listings MLS
Gardena REO Foreclosure Listings MLS
Lawndale REO Foreclosure Listings MLS
Inglewood REO Foreclosure Listings
Carson REO Foreclosure Listings

Westside REO Listings: Condos, Townhouses, Houses
Culver City REO Foreclosure Listings MLS
Palms-Mar Vista REO Foreclosure Listings MLS
Santa Monica REO Foreclosure Listings MLS
Venice REO Foreclosure Listings MLS
Marina Del Rey Foreclosure Listings MLS
Playa Del Rey Foreclosure Listings MLS
Playa Vista Foreclosure Listings MLS
Westchester Foreclosure Listings MLS
Beverly Hills Foreclosure Listings MLS
Bel Air - Holmby Hills Foreclosure Listings MLS
Hancock Park Foreclosure Listings MLS
Westwood - Century City Foreclosure Listings MLS
Pacific Palisades Foreclosure Listings MLS
Malibu Foreclosure Listings MLS

South Bay Short Sales: Condos, Townhomes, Houses
El Segundo pre-foreclosure condos, townhouses, single family homes MLS listings
Manhattan Beach pre-foreclosure condos, townhouses, single family homes MLS listings
Hermosa Beach pre-foreclosure condos, townhouses, single family homes MLS listings
Redondo Beach pre-foreclosure condos, townhouses, single family homes MLS listings
Rancho Palos Verdes pre-foreclosure condos, townhouse, SFR MLS listings
Rolling Hills Estates pre-foreclosure condos, townhouses, SFR MLS listings
Rolling Hills pre-foreclosure condos, townhouses, single family homes MLS listings
Torrance pre-foreclosure condos, townhouses, single family homes MLS listings
Lomita pre-foreclosure condos, townhouses, single family homes MLS listings
San Pedro pre-foreclosure condos, townhouses, single family homes MLS listings
Gardena pre-foreclosure condos, townhouses, single family homes MLS listings
Lawndale pre-foreclosure condos, townhouses, single family homes MLS listings
Hawthorne pre-foreclosure condos, townhouses, single family homes MLS listings
Inglewood pre-foreclosure condos, townhouses, single family homes MLS listings
Carson pre-foreclosure condos, townhouses, single family homes MLS listings

Westside Short Sales: Condos, Townhouses, Houses
Culver City pre-foreclosure condo, townhouse, SFR short sale MLS listings
Palms-Mar Vista pre-foreclosure condo, townhouse, SFR short sale MLS listings
Santa Monica pre-foreclosure condo, townhouse, SFR short sale MLS listings
Marina Del Rey pre-foreclosure condo, townhouse, SFR short sale MLS listings
Playa Del Rey pre-foreclosure condo, townhouse, SFR short sale MLS listings
Playa Vista pre-foreclosure condo, townhouse, SFR short sale MLS listings
Westchester pre-foreclosure condo, townhouse, SFR short sale MLS listings
Beverly Hills pre-foreclosure condo, townhouse, SFR short sale MLS listings
Bel Air - Holmby Hills pre-foreclosure condo, townhouse, SFR short sale MLS listings
Hancock Park pre-foreclosure condo, townhouse, SFR short sale MLS listings
Westwood - Century City pre-foreclosure condo, townhouse, short sale MLS listings
Pacific Palisades pre-foreclosure condo, townhouse, SFR short sale MLS listings
Malibu pre-foreclosure condo, townhouse, SFR short sale MLS listings

GARDENA REAL ESTATE FOR SALE: CONDOS, TOWNHOMES AND SINGLE FAMILY HOUSES

Gardena Real Estate: Search the MLS for Gardena Real Estate for Sale using map based MLS search or pre-set "quick-searches" links. View all homes for sale with photos and neighborhood info. Gardena Real Estate listings including single family houses, condos, townhomes from all local agents and brokers. Standard real estate sales, short sales, and bank owned REO foreclosures.

To view all Gardena homes for sale, click on the lower left corner of the map (below the Google logo) or just CLICK HERE to see the results in full screen mode. To modify your results, select the search tab, change the criteria you want to change and then click on results. All home listings are current - results update in real time. To learn more about the home buying process CLICK HERE. Call 310 975 5139 to buy, sell, or invest in Gardena Real Estate. Closing Costs Paid.


Gardena Real Estate for sale: VIEW ALL MLS Listings
Gardena Real Estate for Sale: SINGLE FAMILY HOUSES
Gardena Real Estate for Sale: CONDOS AND TOWNHOUSES
Gardena Real Estate for Sale: HOMES LESS THAN $250,000
Gardena Real Estate for Sale: HOMES $250,000-$500,000
Gardena Real Estate for Sale: HOMES OVER $500,000
Gardena Real Estate for Sale: SHORT SALES
Gardena Real Estate for Sale: FORECLOSURES

LAWNDALE REAL ESTATE FOR SALE: CONDOS, TOWNHOMES AND SINGLE FAMILY HOUSES

Lawndale Real Estate: Search the MLS for Lawndale Real Estate for Sale using map based MLS search or pre-set "quick-searches" links. View all homes for sale with photos and neighborhood info. Lawndale Real Estate listings including single family houses, condos, townhomes from all local agents and brokers. Standard real estate sales, short sales, and bank owned REO foreclosures.

To view all Lawndale homes for sale, click on the lower left corner of the map (below the Google logo) or CLICK HERE to view in full screen mode. To modify your results, select the search tab, change the criteria you want to change and then click on results. All home listings are current - results update in real time. To learn more about the home buying process CLICK HERE. Call 310 975 5139 to buy, sell, or invest in Lawndale Real Estate. Closing Costs Paid.


LAWNDALE REAL ESTATE FOR SALE: VIEW ALL MLS LISTINGS
LAWNDALE REAL ESTATE FOR SALE: SINGLE FAMILY HOUSES
LAWNDALE REAL ESTATE FOR SALE: CONDOS AND TOWNHOUSES
LAWNDALE REAL ESTATE FOR SALE: HOMES LESS THAN $250,000
LAWNDALE REAL ESTATE FOR SALE: HOMES $250,000-$500,000
LAWNDALE REAL ESTATE FOR SALE: HOMES OVER $500,000
LAWNDALE REAL ESTATE FOR SALE: SHORT SALES
LAWNDALE REAL ESTATE FOR SALE: FORECLOSURES

Torrance Real Estate For Sale: Search MLS Listings for Condos, Townhouses, and Single Family Homes

Torrance Real Estate for Sale

Search the MLS for Torrance Real Estate for Sale using our map based MLS search or pre-set "quick-links" found below the map. View all homes for sale in Torrance including single family houses, condos, townhomes. Standard real estate sales, short sales, and bank owned REO foreclosures. Use the scroll bar to the right of the property list to view all the homes for sale or click on any map location. To modify your results, select the search tab, change the criteria you want to change and then click on results. All home listings are current - results update in real time.



Torrance Real Estate for Sale: Active MLS home listings - condos townhouses, single family houses
Torrance Real Estate for Sale: Condos and Townhouses for Sale MLS Listings 90501-90505
Torrance Real Estate for Sale: Single Family Houses for Sale MLS Listings 90501-90505
Torrance Real Estate for Sale: condos townhouses, single family houses in 90501
Torrance Real Estate for Sale: condos townhouses, single family houses in 90502
Torrance Real Estate for Sale: condos townhouses, single family houses in 90503
Torrance Real Estate for Sale: condos townhouses, single family houses in 90504
Torrance Real Estate for Sale: condos townhouses, single family houses in 90505
Torrance Real Estate for Sale: bank owned REO foreclosures
Torrance Real Estate for Sale: Short Sales NODs, pre-foreclosure
Torrance Real Estate for Sale: New Construction Homes for sale
Torrance Real Estate for Sale: New MLS listings - DOM less than 10
Torrance Real Estate for Sale: 90501 condos and townhouses
Torrance Real Estate for Sale: 90502 condos and townhouses
Torrance Real Estate for Sale: 90503 condos and townhouses
Torrance Real Estate for Sale: 90504 condos and townhouses
Torrance Real Estate for Sale: 90505 condos and townhouses
Torrance Real Estate for Sale: 90501 single family houses
Torrance Real Estate for Sale: 90502 single family houses
Torrance Real Estate for Sale: 90503 single family houses
Torrance Real Estate for Sale: 90504 single family houses
Torrance Real Estate for Sale: 90505 single family houses

Torrance Foreclosures for Sale: Bank Owned REOs, Short Sales, Auctions

Torrance Foreclosure Inventories: Preforeclosure inventory is an estimate of the number of properties that have had a Notice of Default filed against the property, but have not yet been Scheduled for Sale. The Scheduled for Sale inventory indicates those properties that have had a Notice of Trustee Sale filed, but have not yet been sold or had the sale cancelled. The Bank Owned (REO) inventory indicates the number of properties that have been sold Back to the Bank at the trustee sale, and which the bank has not yet resold to another party. 

Torrance,CA - Foreclosure Inventories

Buyers can find a wide variety of homes for sale in all price ranges. Whether you are looking for a single family home, condo, townhouse, senior living, or a rental, home buyers will find that Torrance offers many choices. Here's some pre-set MLS search of active listings. You can modify any search results to search for a home that more specifically meets your criteria. Don't see what you are looking for? Call 310 975 5139 to have a custom search set up for you or for pocket listings not on the market yet.

Torrance Real Estate: Active MLS home listings - condos townhouses, single family homes
Torrance Realty: Condos and Townhouses for Sale MLS Listings 90501-90505
Torrance Realty: Single Family Houses for Sale MLS Listings 90501-90505
Torrance Real Estate for sale: condos townhouses, single family houses in 90501
Torrance Real Estate for sale: condos townhouses, single family houses in 90502
Torrance Real Estate for sale: condos townhouses, single family houses in 90503
Torrance Real Estate for sale: condos townhouses, single family houses in 90504
Torrance Real Estate for sale: condos townhouses, single family houses in 90505
Torrance Real Estate for sale: bank owned REO foreclosures
Torrance Real Estate: Short Sales NODs, pre-foreclosure
Torrance Realty: New Construction Homes for sale
Torrance Realty: New MLS listings - DOM less than 10
Find Homes Torrance Realty: 90501 condos and townhouses
Find Homes Torrance Realty: 90502 condos and townhouses
Find Homes Torrance Realty: 90503 condos and townhouses
Find Homes Torrance Realty: 90504 condos and townhouses
Find Homes Torrance Realty: 90505 condos and townhouses
Find Homes Torrance Realty: 90501 single family houses
Find Homes Torrance Realty: 90502 single family houses
Find Homes Torrance Realty: 90503 single family houses
Find Homes Torrance Realty: 90504 single family houses
Find Homes Torrance Realty: 90505 single family houses

Are Home prices going up or down in Torrance? Click Here to find out.

South Bay MLS REO Listings

Manhattan Beach REO Foreclosures
Hermosa Beach REO Foreclosures
Redondo Beach REO Foreclosures
El Segundo REO Foreclosures
Rancho Palos Verdes REO Foreclosures
Rolling Hills REO Foreclosures
Rolling Hills Estates REO Foreclosures
Torrance REO Foreclosures
Lomita REO Foreclosures
San Pedro REO Foreclosures
Hawthorne REO Foreclosures
Gardena REO Foreclosures
Lawndale REO Foreclosures
Inglewood REO Foreclosures
Carson REO Foreclosures

When it's time to buy or sell Torrance Real Estate use a top local Agent!

Socalistings.com is published by Ellis Posner (DRE # 01416970). Ellis Posner is a local Torrance, CA  Real Estate agent who specializes in Torrance and South Bay Realty. Ellis Posner can help you buy or sell a home, acquire investment income property or rent or lease a condo, townhouse or single family home.

Other Ellis Posner Real Estate web sites include www.90266realestate.com,  www.90277realestate.com, www.90278realestate.com, and www.socalupdates.com.  Call 310 975 5139 or email ellisposner@yahoo.com.  Experience counts. Call Ellis Posner for "straight talk" on California Real Estate and to buy, sell, or lease a residential or investment property. Buyers: You may be eligible to receive cash back at closing when you use Ellis Posner as your agent to buy real estate. Click here to find out more. Home owners: Save money on real estate commissions when you sell a home. Follow this link to find out how.

To "Search like an Agent" click here to sign up for Listingbook.