Beach Cities Homes for Sale: Manhattan, Hermosa, Redondo Beach and El Segundo MLS Listings

TO VIEW THE MAP IN FULL SCREEN MODE CLICK HERE

All results update in real time and display the latest MLS listings for Manhattan Beach, Hermosa Beach, Redondo Beach, and El Segundo CA. Mouse over the map and click on the homes for more details.

To learn more about buying in the South Bay Beach Cities and for Foreclosures call 310 975 5139.

Welcome to Socalistings.com. Whether you want to buy, sell, list, or are just interested in South Bay Beach Cities Real Estate you've come to right place to search for homes for sale from all Brokers, Agents, and Realty Companies in the area such as Shorewood Realtors, South Bay Brokers, RE/MAX, Keller Williams, Prudential, Coldwell Banker, Redfin, Zip Realty, etc as well as the smaller specialty shops such as Palm Boutique, Merit Real Estate, and others.

Socalistings offers a local perspective with insight into the market place, data and statistics that the national Real Estate websites such as Zillow, Trulia, Realtor.com and the others just do not have. Our state of the art map based home search and house hunt integrates directly to Zillow for values. The screens are not cluttered with non related ads and we are always here to answer your questions. This is the feet on the street view local agent real world perspective. What's actually happening right now and what you can expect to find as a buyer.

You may be aware of the following but just in case you don't know:

• In CA any Broker can sell the listings of any other Broker.
• The same MLS listings are displayed on virtually every website in different formats.
• Buyers and Sellers usually have their own agents to represent them in their transaction.

Socalistings specializes in representing South Bay and Beach Cities Home BUYERS. In addition to the hundreds of homes listed in the MLS (multiple listing services), we also have access to a number of "off market" pocket listings that will not appear on any website. And, if you are looking for value, we are running a number of BUYER SPECIAL OFFERS including rebates to help pay for your closing costs that offer significant out of pocket savings.

We get many questions about the differences between Manhattan, Hermosa, Redondo Beach, and El Segundo Real Estate. Here's some info about each of the Beach Cities to help you decide which is the best fit for your needs, lifestyle, and budget. Call 310 975 5139 for more information or email socalistings@yahoo.com. Enjoy!

MANHATTAN BEACH REAL ESTATE

  
Real Estate in Manhattan Beach CA, 90266 is highly desirable but, even by Southern CA standards, very expensive. The LA Times recently published an article indicating that Manhattan Beach recorded the 2nd most $1M dollar home plus home sales in the state. 

If you are thinking of buying a home in Manhattan Beach, the first question you should be asking yourself is "which neighborhood". The differences can be in the millions. Really.

Starting with  the most expensive are homes on the Manhattan Beach Strand. Homes on The Strand directly face the Pacific Ocean and all have unobstructable ocean views. Homes on The Strand are considered to be in the Manhattan Beach Sand Section (albeit in a class of their own). In general, the Sand Section is from the beach up to Valley Ardmore (when you are south of Manhattan Beach Blvd) and then up through the 400 block in the north end. The Sand Section also does include homes in El Porto which is the neighborhood north of Rosecrans that was previously annexed from El Segundo. A home in El Porto that is the same distance from the beach and otherwise comparable to a home in Manhattan Beach's south end may sell for considerably less. Ocean views and walk streets also affect pricing. You can find everything from original beach bungalows to architectural modern structures and townhouses, condos, and single family houses.

Equally desirable and expensive are the homes in the Manhattan Beach Hill Section which is found just east of the sand section, north of Hermosa Beach and up to Manhattan Beach Blvd.  These are typically larger than most of the homes found in the Sand Section and sit on larger lots (for the most part). Hill Section homes are built, well on a hill, and many have views of the ocean, PV, or even downtown LA and the mountains to the north and east. 

North of Manhattan Beach Blvd, and West of Sepulveda, you find the Tree Section so named because many of the streets are named after trees (Oak, Elm, Poinsettia) and there are, well. a lot of trees! These lots may be smaller than found in the Hill Section  and many of the newer homes take up almost the entire lot so there is not much of a backyard. From the westernmost properties it is a pretty easy walk or bike ride down to the beach. As you get further east and north, not so much for all but the heartiest. The Tree Section is more affordable than the Hill Section but we're still talking about million dollar "starter" homes and fixers. If you can find them. The tree Section is almost exclusively single family homes.

Within The Sand Section and Tree Section, locals also make further distinctions such as The Gas Lamps or American Martyrs and El Porto as previously mentioned.

Moving east of Sepulveda, the neighborhood is referred to as, you guessed it, East Manhattan Beach except for the gated community of Manhattan Village found just east of the shopping center between Marine Ave and Rosecrans. East Manhattan Beach is then further delineated as to whether it is the homes around the High School, called not surprisingly "Mira Costa" or the Heights/Liberty Village area. What you'll find in this area are also primarily single family homes on larger lots than you'll find in the Sand Section and everything from mid century original tract homes to MacMansions.

Learn more about Manhattan Beach Real Estate at our sister site 90266realestate.com.

Click on any of the homes on the map for more information. These are always the most current MLS listings and update in real time. For Manhattan Beach Foreclosure, follow this link.
 

HERMOSA BEACH REAL ESTATE

Hermosa Beach shares much in common with Manhattan Beach. While Hermosa Beach Real Estate is still expensive by any measurement, it is less expensive than Manhattan Beach, offers many of the same amenities, and for many casual visitors they often don't notice much difference (at first). Hermosa Beach students can go to Mira Costa High School in Manhattan Beach but Hermosa maintains its own Elementary and Middle Schools. With the recent revitalization of the downtown area, Hermosa is a great example of a beach town that combines the best of the surfer vibe with an upscale demographic as well. It's definitely no longer the party town that many people might remember from 20+ years ago.

Hermosa Beach is primarily divided into three neighborhoods. The Hermosa Sand Section, Hermosa Valley, and East Hermosa Beach.

The Hermosa Beach Sand Section is basically just a continuation of the Manhattan Beach Sand Section going south along the coast (but don't call it "Baja Manhattan"). The Strand continues south as well and runs along the coast throughout Hermosa. Many buyers consider Strand Real Estate between the Manhattan and Hermosa Piers to be the most desirable and prefer those locations to let's say North Manhattan Strand or El Porto Strand. Truthfully, its all good.

As for Hermosa Sand Section, the same general comment holds true, the homes north of Pier Avenue in Hermosa and South of Manhattan Beach have been priced higher and considered more desirable than homes south of Pier Avenue. Historically, that may have been due in part to the power plant in South Redondo Beach. As the fate of the power plant is finally resolved, we may see a change.

As you would probably have guessed, the homes in Hermosa Beach east of PCH (Pacific Coast Highway) are considered "East Hermosa Beach". Between the two. lies "Hermosa Valley" which is the real estate east of the Sand Section and west of PCH. Many of these homes are actually within easy walking distance to either downtown Hermosa Beach or the ocean.

You can learn more about Hermosa Beach Real Estate at www.90254realestate.com. 

Click on any of the homes on the map for more information. These are always the most current MLS listings and update in real time. Follow the link for Hermosa Beach Foreclosures.

NORTH REDONDO BEACH REAL ESTATE

Redondo Beach is divided into North Redondo Beach (90278) and South Redondo Beach (90277) with the border generally defined as 190th St which continues into Anita (turning into Herondo in Hermosa Beach). North and South Redondo Beach may share the same city services but they are very different in neighborhood feel, freeway access, beach access, and other amenities.

From our perspective, North Redondo Beach homes are not only the best value in the Beach Cities but offer more for the investment dollar than almost any other west of 405 coastal community in LA County in terms of how much living space you can buy or price per square foot, schools, parks, beach proximity, freeway access, etc. As a result, inventory has become very tight and it is not unusual for North Redondo Beach MLS listings to sell for over list price and quite often the first week they are on the market. And with multiple offers. North Redondo Beach home prices rose steadily throughout 2012 and are anticipated to continue to do so in 2013 as well. Follow this link for an up to date overview of market statistics and data for 90278.

North Redondo Beach is comprised of a number of neighborhoods and in some instances, sub neighborhoods within those. There is also some housing descriptions that North Redondo Beach buyers should become acquainted with such as "Tall & Skinny", "2 on a lot", "3 on a lot" and attached and detached townhouses. Let's start with the housing types.

Tall and Skinny (pictured left) refers to the 2 and 3 level Single Family Homes built on 2500 sq ft lots in the Golden Hills neighborhood. (More on Golden Hills later.) These properties may look like what most people would consider townhomes but are SFRs. They typically have a reverse foorplan with 2 bedrooms downstairs and the living room, dining room, and master bedroom on the 2nd level. Most will have vaulted or cathedral ceilings in the living room and possibly master bedroom. The most current version of Tall & Skinnies are approximately 1888 sq ft although some are larger because either a loft area was added above the main living area or they are built on a hill, (Golden Hills is hilly), and a thord level was able to be built downstairs. The larger version may measure up to 2500 sq ft +/-. There are older floor plans that are also referred to as Tall and Skinny SFRs that are smaller in measurement. The exteriors are usually stucco or traditional craftsman and the garage is in front with the front door on the side (got that). Rumor has it that there may even be a few Pat Killen designed Tall & Skinnies around.

Also having a similar reverse floor plan are the attached three on a lot townhouses. These are basically the same layout as the Golden Hills Tall and Skinny homes but attached to the neighboring townhouse and usually sharing a common driveway although some do have their own driveway if they are located on North - South Streets (as opposed to East - West Streets). Three on a lot attached townhouses are most often found on Grant, Vanderbilt, Carnegie, Rockefeller, and Mathews. Many of these homes were built by Anastasi, Casner, Powers, LaCharite, Rich VR, or marketed by Amir Amiri and Merit Real Estate in addition to smaller and one off builders.

Another variation of Redondo Beach townhomes are attached and detached 2 on a lot townhomes. These are often built on the same size lots as the 3 on a lots but the zoning is different and hence there are 2 units instead of 3.

Most of the older properties built before about 1985 or so are "attached" in that there is no separation between the buildings and there are common walls. Some properties have no common living areas or walls but are still attached at the garage. These are usually 3 bedroom units and have a second floor patio - terrace over the garage. There are also larger examples built from the 19080's through the 2000's that have four bedrooms, formal living and dining areas and may be 2500-2700 sq ft in size.

Then there are also detached townhouse units which may be either 3 or 4 bedrooms in size and 2000 sq ft to 2500 sq ft in size. Both attached and detached units most often have "standard" floor plans meaning that the bedrooms are upstairs and the living area is downstairs. Some of the larger floorplans may also have a bonus or loft area on the second floor. These properties were most often built by the same builders as the 3 on a lots. The exterior is usually stucco. There are many 2 on a lots throughout MLS areas 151 and 152, Villas North and South. (A detached 2 on a lot newer townhouse is pictured above to the left.)

Here's some important facts for townhouse buyers.

A townhouse is a type of property. Almost ALL townhouses in the Beach Cities are zoned as and legally "condominiums". Many buyers, particularly if they are relocating from other parts of the country, may think of a condo as a flat apartment like home. Not the case at all. Legally, all townhouses are condos. That's an important data point when you go to your lender. Typically the lowest price mortgage rates that you see are for single family homes and condo rates are higher.

Townhouse buyers should also know that the square feet measurement of townhouses is the living area between the walls as opposed to single family homes which are measured at the perimeter of the structure. What this means in reality is that a townhouse (condominium) the same size as a single family house may, in fact, be larger!

Also to note is that in Redondo Beach (either North or South), many townhouse Home Owner's Associations (HOAs) are "inactive". So while there are recorded CC&Rs, there is often no enforcement.

Now let's talk about the North Redondo Beach neighborhoods.

We get many inquires about the "Golden Hills" (MLS Area 154) and within Golden Hills, the Golden Triangle. These are, for the most part, the Tall & Skinny homes that were discussed above. The Golden Triangle is the neighborhood bound by Artesia Blvd to the north, (across the street from Manhattan Beach Mira Costa High School), Aviation Blvd to the east and Hermosa Beach to the west. If you look at the map, it forms a nice triangle. Golden Hills then crosses over Aviation.

Many of the Golden Hills homes are within walking distance to the beach - although it is a pretty long walk and others are easily reached by bike. It is the furthest west neighborhood found in North Redondo Beach and at points may be further west than homes in Manhattan Beach.

Speaking of Manhattan Beach, MLS Area 151 in North Redondo Beach (Villas North) is the tract just east of Manhattan Beach (across Aviation Blvd) bound by Artesia Blvd to the south and Manhattan Beach Blvd to the North. This is another highly desirable Redondo Beach neighborhood. At the northernmost end of Redondo Beach it offers very easy access to the 405 and the restaurants, movies,  and shopping on Rosecrans. In the north east most quadrant of MLS Area 151 is the "TRW Tract" which are primarily single family mid century homes. Many of these streets are curvy and there is a nice small town feel. 

Learn more about Redondo Beach Real Estate at our sister site www.90278realestate.com.

Click on any of the homes on the map for more information. These are always the most current MLS listings and update in real time. North Redondo Beach Foreclosures.

SOUTH REDONDO BEACH REAL ESTATE

South Redondo Beach is as different from North Redondo Beach as let's say North and South. For many people these two neighborhoods are distinctly different and share little in common other than a city name.

To start with, South Redondo Beach actually has homes west of Pacific Coast Highway (PCH) and a beach whereas North Redondo Beach does not. Because parking is even harder to come by (for the most part) than in Hermosa or Manhattan, the beach is often quite private and not crowded. The Redondo Pier is actually more developed and commercial than Manhattan or Hermosa. Think of it as a smaller version of the Santa Monica Pier.

Almost all of South Redondo Beach is further west than North Redondo Beach and lies just south of Hermosa Beach. North and South Redondo Beach taken together really only share a common border of 190th St.

Many of the types of housing are similar such as attached and detached 2 and 3 on a lot townhomes although there are some variations. For one, in South Redondo Beach, the detached 2 on a lot townhomes often are configured such that the garage entries are facing each other with the unit A owner having no backyard. There are also 3 on a lot detached properties that are detached yet the same size as the 2 on a lot townhomes. While you will also find 3 on a lot attached properties, there are not quite as many as in 90278.

Also, in South Redondo Beach, there are a few very large condo complexes with similar names. One is referred to as "The Village" and is located on Catlalina Ave North of Torrance Blvd (the property addresses are Village Way). These flat traditional condos are on the ocean side of Catalina and almost always have ocean views, The complex was built in the '70s and '80's but many buildings and units have been upgraded. The HOA dues tend to be high by South Bay standards but the buildings offer many amenities such as pools etc.

Not to be confused with The Village is Brookside Village which is found inland at the corner of Prospect Ave and Camino Real. This is a huge sprawling complex also built in the '70s and having HOA dues that are higher to reflect the amenities. Both properties offer a great alternative to renting for those who can secure a mortgage. Many people buy these units as "starters" and then turn them into rental income properties as they move on. A such, the number of tenants is fairly high.

Another large condo community with larger units and priced much higher is Village Rancho Palos Verdes located at the base of the PV Peninsula. This is a 180 unit townhome community built in the 1970's along Palos Verdes Blvd. It has recently gone through a major renovation and offers a great Hollywood Riviera location with on site amenities such as pools and an easy walk to Riviera Village or the beach.

A major attraction of South Redondo Beach is "Riviera Village" which is the "downtown" area at the base of the Palos Verdes Peninsula and the Hollywood Riviera. Riviera Village still maintains the look and feel of a laid back southern CA coastal town and offers more shops than either Manhattan Beach or Hermosa Beach do in their comparable areas. Riviera Village starts at about Catalina and Ave A. Homes within walking distance to Riviera Village are highly desirable. This includes some of the properties in Hillywood Riviera, the "Avenues", and many west of PCH homes south of Del Amo Blvd.

We've mentioned Hollywood Riviera a few times.  These are the homes on the hill going up to the PV Peninsula. Curiously, there are homes in Hollywood Riviera that have a South Redondo Beach mailing address but are actually in the city of Torrance. Really. If you are buying in that neighborhood, you want to understand the difference relative to schools and services. Follow this link to learn more about Hollywood Riviera Real Estate.

If you are looking in the Riviera, another term you will hear is "Queen's Necklace". This refers to the homes that have a coastline view and see the sand and white water during the day and the lights of the city at night (which look like a necklace as they curve around the coast.

Learn more about South Redondo Beach Real Estate at 90277realestate.com. South Redondo Beach Foreclosures.



EL SEGUNDO REAL ESTATE
Some may not consider El Segundo (90245) to be part of the Beach Cities. It doesn't have "beach" in the name and doesn't have direct beach access (but neither does North Redondo Beach). However from a real estate buyer perspective, El Segundo shares much of the same lifestyle and amenities as the other true Beach Cities and, in fact many living in Manhattan, Hermosa, and Redondo Beach routinely avail themselves of El Segundo amenities such as movies, restaurants and shopping. So, from a lifestyle perspective, there may be more overlap with N Redondo or the north end of Manhattan Beach than let's say South Redondo which at points blends into Torrance.

So, all many people know about El Segundo is the Chevron oil refinery, or the high tech and aerospace companies that have historically been located there. For many people it's where they work (ES is very business friendly) or drive through to get to LAX. But, there's a lot more to El Segundo.

Many families choose to live in El Segundo because of the excellent schools. For those working in LA, the commute is reasonable (by local standards) and compared to let's say other westside neighborhoods, the homes are more affordable (priced somewhat higher than N Redondo Beach but lower than much of the other Beach Cities).

There's a great downtown area with a real small town feel (the High School looks like its right out of Hollywood casting) and many local restaurants found on Main Street (yes there is a Main St) near the intersection of Grand.

There are a number of condo complexes, town homes of various ages and sizes but what you'll predominately find are mid century single family houses and then urban infill new construction of various ages and sizes.

Click here for El Segundo Foreclosures.


  

Santa Monica Foreclosures: Short Sales, Auctions, and Bank Owned REO Homes

DO YOU WANT TO BUY A SHORT SALE, AUCTION PROPERTY OR BANK OWNED REO FORECLOSURE IN SANTA MONICA, CA?

Many of these homes are not listed yet in the MLS and are part of the "Shadow Inventory" of distressed Real Estate you may have heard about. Call for more details: 310 975 5139

It's important to understand the foreclosure process and the various stages at which you can buy and under what terms. Following is a guide on how to buy a property - condo, townhouse, or single family home in one of the three stages of the foreclosure process

SHORT SALES

These transactions should more appropriately be called short pays rather than short sales. As far as time is concerned, they are anything but short. And, as one of our clients very accurately stated, there are "a lot of moving parts".

As you probably know, a short sale happens when the investor (the party that holds the note or notes secured by the property) agrees to a payoff amount for less than the seller (homeowner) owes. Here's an example. The homeowner purchased the property for $600,000 five years ago with no money down and an interest only loan.  After making payments for all this time they still owe $600K but the home is only worth $480,000. Their agent lists the home for $450,000 in order to get offers and start the short sale process which in most instances (the exception being a "HAFA" short sale), the short sale process can not start until the seller receives an offer. Once an offer is received, the agent will prepare a short sale package for submission to the servicer (bank). The servicer may or more likely may not actually hold the note. So, initially the agent and seller are negotiating with a party that can only say no but can not approve the short sale. Once the servicer does grant approval, the short sale package is then submitted to the investor who may or may not approve the short sale terms and conditions.

A common misconception among buyers is that they are negotiating with the bank. While ultimately they may receive a counter from the bank months later, in the initial phase, they are negotiating solely with the homeowner-seller. Until title changes hands through either sale or foreclosure, the seller still controls the property. A frequent question we get is "why do sellers care what the sales price is - they don't get any money anyway?". While it is certainly true that the seller isn't walking away with any proceeds (unless they are receiving money to relocate from the HAFA program), the seller still wants to submit the strongest offer possible so that the bank and investor accept it.

Other than the price, many short sales fall apart because the seller just doesn't qualify or doesn't supply the required documents to receive short sale approval. The seller has to actually have a hardship such as a death in the family, divorce, job loss, medical problems, etc AND not have the assets (hidden or otherwise) to make up the deficiency between the sale price and the amount owed. In other words, you can't sell your home short and be sitting on a ton of money in 401Ks, mutual funds, or your checking account. If you need to do a short sale, work with an agent who has experiencing representing short sellers and find out if that agent uses a negotiator or how they handle the file.

If you are a buyer, ask your agent how many loans are outstanding on the property and if a NOD has been filed, try to get a feel for or an exact number of the "payoff" or default judgment. That would be the loans, plus delinquencies plus property taxes owed and if it is a condo or townhouse, the delinquent HOA dues as well. Your agent should also be able to look at other comps in the area and give you an idea of what the property will sell for. If there is a huge discrepancy between the listed price, comps, and amounts owed, you know that one will never get approved.

While there are more short sales being approved today than when the housing crisis started, this is till a long and stressful process for all involved. Our advice to buyers considering buying a short sale listing is that if this is really the home you want and you are willing to wait for 3-6 months, go for it. Otherwise, move on.

AUCTIONS

As part of the foreclosure process, the holder of the note (the "investor") will authorize a trustee sale which is held on the courthouse steps. These auctions are different than the auctions you see advertised on TV. The TV auctions are held by companies in the business of acquiring pools of properties from the banks and investors specifically for resale. The auction we are referring to as part of the foreclosure process is a different beast entirely.

The auction on the courthouse steps is an all cash transaction with (usually) no inspection, no title insurance, and typically subject to various liens. If that is not enough, the buyer may well have to evict the former owner or current tenants. To further complicate matters the tenants may or may not have a bona fide lease and/or may be protected by other local ordinances.

When we refer to "all cash" that doesn't literally mean US dollars but means certified funds. Typically, you will find bidders with bank checks in various denominations that add up to the purchase price.

Here's something else you need to know: auction doesn't equal bargain. Here's why.

The opening bid is often the default judgment obtained against by senior note holder and that may or may not be a good price. Quite often, considering the risks and hassles associated with buying at auction, the auction property is far from a good deal. Very far.

Let's look at an example. The foreclosed homeowner bought a property for $600,000 at the height of the market with no money down and a negative amortization loan (neg am - also called option arm). There was a first and second mortgage, the first is for $480,000 (80% of $600,000).

At the time of auction, the homeowner was a year behind in the payments. That, plus the negative amortization has resulted in a default judgment of $535,000. As home values in the area have gone down 25% making the property only worth about $450,000 the opening bid of $535K is actually higher than fair market value (FMV). What may happen is that the investor instructs the trustee to "underbid" meaning to offer for less than what is owed just to get rid of the property. But, that is rare.

So, finding a great deal at auction is not that easy and you may still have the other problems (eviction, title insurance, property defects) we mentioned. Our advice: there may be deals on the courthouse steps but this is not the optimal way to acquire your primary residence. Definitely not a transaction for the feint of heart. Sorry.

BANK OWNED REO FORECLOSURES

You may have heard the term REO which refers to "Real Estate Owned" by the bank. More commonly referred to as a foreclosure or bank owned property. This is really what you are looking for. Here's why.

By the time the bank has listed the REO with a Real Estate Broker, in most cases the occupant (former owner or tenant) has been evicted, the title issues and liens have been addressed and will be cleared before close of escrow, and the asset manager - the person at the bank or management company - can make a decision and respond to your offer in a reasonable time frame (unlike a short sale). Also, unlike an auction you have the ability to view and inspect the property beforehand.

The process of buying a REO starts out the  same as a standard sale. Your agent will fill out and have you sign the  same RPA, Agency Disclosure, WPA and other documents that you would use  if the property had not been foreclosed on. You might additionally be  asked to sign disclosures specific to the Brokerage representing you.

Today, almost all REOs are priced at or  slightly below fair market value. The "investor", servicer, or asset  manager has already recieved a BPO (Broker's Price Opinion) indicating a  30 day liquidation value and priced the property accordingly. Buyers  are often surprised when their agent recommends bidding higher than the  listed price. If it is a desirable property and priced to sell, there  may very well be multiple offers. As a buyer, you may very well be  competing against all cash investors who may want to flip or rent the  home. If the REO is overpriced and does not receive offers, the bank  will do a series of price reductions on a systematic basis either every  21 or 30 days.

A common question that foreclosure buyers  have is whether the selling bank will finance the property. There may be  special financing available through a designated lender or program but  in most cases you are left to your own devices as to obtaining financing  for a foreclosure. You can use any available program although many  foreclosures will not qualify for either FHA or VA financing due to  condition and safety hazards.

If you offer is accepted, you may be asked to deposit the EMD with escrow in the form of certified or wired funds.

There are two significantly different procedural and contractural differences between foreclosure sales and standard sales.

The first is that the seller, in this case  the "investor", asset manager, or servicer (bank) does not have to  provide some disclosures that a normal seller would. This is due to the  fact that it is deemed that a foreclosure seller does not have the  knowledge of a property that an owner occupant would because they never  lived in the property. Truthfully, often the listing agent hasn't even  seen the property in many instances. However, there are still  disclosures that they do have to provide. These items are detailed in  the REO advisory from either Winforms or that the Brokerage representing  the buyer will have prepared. Many foreclosure sellers are not signing  or providing any disclosures. Please note, they are probably not  relieved of their legal or other obligations by refusing to sign the  documents that they are required to provide.

A further gray area has to do with the so  called "corporate owned" REOs. In general, those refer to the properties  bought for flip, either on the courthouse step or in a foreclosure  pool. The new owner, who acquired the property through a foreclosure  proceeding, may try to skirt many disclosures as well.

The most prudent advice to follow is "inspect-inspect-inspect".

By far, the most onerous aspect of buying a  bank owned REO foreclosure is the "bank addendum" that becomes a part  of every foreclosure purchase contract. This is a nasty document the  attorneys for the seller have drafted that basically supercedes the  language in the standard CA RPA which has been carefully drafted and  vetted by teams of attorneys to be fair to both buyer and seller. The  bank addendum is only fair to the seller. In fact, it gives all the  power to the seller and you forgo many rights you would normally have as  a buyer. If you show it to a lawyer representing you, most certainly  you would be told to not sign it. That's how heavy handed it is worded.  Many of the bank addendums not only give all the power to the bank, but  contain clauses that either don't apply or are illegal in California!

None the less, I have helped many foreclosure buyers acquire REOs with little or no problems.

DRE 01416970

Santa Monica Foreclosure Homes for Sale. Short Sales, NOD, Auctions, NTS, Bank Owned, REO, Real Estate Owned, repossessed, Shadow Inventory, townhomes, condos, houses, mutli family, duplex, triplex, apartment buildings. MLS Search, off market, Wells Fargo, Bank of America, Citi, Chase, Washington Mutual, One West, US Bank, Zillow, Redfin, Shorewood Realtors. Leo Nordine, Nordine Realtors, Polly Watts, Maxim Properties, Mark Arrico , Rob Buchan, David Judd, Arrico and Associates, Venice, Marina Del Rey, Westchester, Playa Del Rey, Playa Vista, etc.

Playa Vista Real Estate for Sale: Buy a Condo, Townhome, Loft or House in 90094

Playa Vista is noted for its sustainable building practices and "environmentally friendly planning."  Playa Vista and five other national communities were selected to participate in PATH, the Partnership for Advanced Technology in Housing, in 1998. In addition to environmentally-friendly built homes, water conservation is another feature that is highly regarded in the community; the community utilizes 100% reclaimed water for landscaping and Energy Star appliances.

Playa Vista is located in the western portion of Los Angeles County in northern Westchester just minutes north from Los Angeles International Airport (LAX). A relatively new community, residents are treated to cool ocean breezes from the Pacific, excellent shopping opportunities within the community and just minutes away in neighboring Los Angeles, events and activities, and a lifestyle that balances state-of-the-art amenities with a strong sense of community.

Playa Vista's real estate market includes a healthy mix of affordable homes, luxury housing, and retail and commercial space. Always looking to accommodate to the ever-growing residential populace, Playa Vista is currently making plans to move forward with The Village, which will include 2,600 homes, 200 assisted living units, about 50,000 square feet of office space, over 195,000 square feet of retail space, and about 40,000 square feet of community space, which may include a pool and gym.

Playa Vista is a great Westside coastal community. If you have been thinking of buying a home in Playa Del Rey, Marina Del Rey, Venice, or Santa Monica, you may want to find out what Playa Vista offers. Call 310 975 5139 for more information.

To view all the homes listed for sale in Playa Vista CA 90094, Follow this Link.

playa vista, ca, 90094, homes for sale, list, buy, sell, townhomes, townhouses, condos, condominiums, houses, open houses, lofts, forelosures, open houses,short sales, REO, bank owned, auction

Ellis Posner Real Estate Websites: South Bay Homes for Sale in Torrance, Redondo Beach, Manhattan Beach, and Hermosa Beach CA

Based in the South Bay Beach Cities, Zillow 5 Star Real Estate Agent Ellis Posner (DRE 01416970) publishes Socalistings and a number of other Real Estate neighborhood specialty and blog websites to help consumers buy, sell, list, and invest in Real Estate in Los Angeles and Orange County.

"People ask me, why so many websites?" states noted blogger and Realtor Ellis Posner who goes on to add, "I'm offering specific local knowledge that the major national sites simply do not provide. There's a real need for this insight and I've had a great response from many families who want to buy or sell a home and need an experienced local agent."

"There is no substitute for local market knowledge. Often I can find buyers homes that have not yet been listed in the MLS. In a tight market, this has great value. For sellers, I have a specific methodology that will net them higher proceeds and often in a faster time frame with fewer transactional issues and problems. Plus whether you are buying or selling a home, I just handle all the details for you."

Here's a brief review of where Ellis Posner can be found on the internet. You can reach Ellis anytime by phone at 310 975 5139 or email socalistings@yahoo.com.

Torrance CA Homes for Sale: Visit www.torrance-real-estate-for-sale.com for condos, townhomes, and single family houses for sale in Torrance CA Zip Codes 90501, 90502, 90503, 90504, and 90505. "I really enjoy selling homes in Torrance" states Ellis Posner. "Torrance offers something for everyone from first time buyers looking for a starter house or condo up to ocean view mansions in the Hollywood Riviera. There are almost too many great neighborhoods to mention such as Marble Estates, Victoria Knolls, Walteria, Southwood, Old Torrance, West High, Seaside Ranchos and of course Hollywood Riviera." There are many excellent schools in Torrance and it is conveniently located for commuting to work or play in the South Bay, Westside, or Orange County. In addition to great shopping at the Del Amo mall, there are two excellent Torrance hospitals, Torrance Memorial and Little Company of Mary and many fine Doctors have offices in the area. To search the MLS for homes for sale in Torrance CA, follow this link.

Hermosa Beach CA Homes for Sale: Hermosa Beach CA 90254 offers a great laid back beach lifestyle in a small community nestled between the Pacific Ocean and Redondo and Manhattan Beaches. Most homes are an easy walk or bike ride to the Strand or restaurants. Unlike Manhattan Beach, Hermosa Beach has long allowed "roof top decks" so many homes have ocean views or views to Catalina or Malibu from the decks.

"One of my favorite homes I ever owned and best places I've lived was in Hermosa Beach just a few blocks from the ocean", states Hermosa Beach Real Estate Agent Ellis Posner. "My office is still in Hermosa Beach and in a way I'll always consider Hermosa to be home."

There are 3 fairly distinct neighborhoods in Hermosa Beach: The Hermosa Beach Sand Section, Hermosa Valley, and East Hermosa Beach. Each has its own unique character but you simply can't go wrong buying in 90254. Hermosa Beach CA 90254 MLS Search. More Hermosa Beach CA Real Estate including MLS search for homes for sale can be found at www.90254realestate.com.

Manhattan Beach CA Real Estate: Homes in Manhattan Beach CA 90266 remain some of the most desirable in LA County or Southern CA in general. By any measure, Manhattan Beach represents a considerable investment in Real Estate with "starter" mid century houses east of Sepulveda routinely listed for $1M or more. Homes in the Manhattan Beach Sand Section, or Hill Section can be in the multiple millions and if you want live on the Strand be ready to budget close to $10M or more.

"I lived in two homes in the Manhattan Beach Sand Section" says Ellis Posner. "While both would be considered shacks by any sane person, you couldn't beat the location. My first house was on a walk street at 6th and Baview Dr just a few blocks to the Strand and after that I lived in the North End near Sand Dune Park." Wow. Visit www.90266realestate.com for more information to buy or sell a home in Manhattan Beach CA and Ellis Posner's unique Manhattan Beach perspective.

Needless to say, Manhattan Beach has one of the best school systems in Southern CA and everything you would expect to find in this price range as far as amenities and conveniences. Many professional athletes and entertainers live in Manhattan Beach to enjoy the laid back beach lifestyle and easy access to LAX. From estate mansions with ocean views to original beach bungalows, Manhattan Beach has it all. Manhattan Beach MLS Search. Search all listings from all Brokers, Agents, Realtors, and Realty Companies listing homes for sale in Manhattan Beach CA 90266.

North Redondo Beach CA 90278: North Redondo Beach is one of the most affordable, convenient and best priced communities in the LA area where residents can enjoy the beach lifestyle at an affordable price. Or at least affordable by Southern CA standards (lol). In fact, the detached 2 on a lot townhomes found throughout North Redondo represent an extraordinary value in that owners can enjoy what is for all intents and purposes a single family home at condo prices.

Additionally, the 2 on a lot and 3 on a lot 2 story townhomes also represent a great value for homeowners. These "condos" typically offer more space than single family homes in the neighborhood while affording the owner the benefits of low maintenance living.

"I moved to North Redondo Beach about 10 years ago", says Ellis Posner. "Although it wasn't my intention at the time, I've lived in my current N Redondo townhouse longer than anywhere else in my life. I have all the amenities of my previous homes in Manhattan and Hermosa Beach and the only difference is that now I have to drive to the Strand rather than walk."

North Redondo Beach is very affordable. House Hunt the MLS here for North Redondo Beach Homes for Sale.

South Redondo Beach CA 90277: "South Redondo Beach is so unique with its own character, feel and flavor, that I had to separate it with it's own website" said Ellis Posner. "Although I've owned homes and lived in Hermosa Beach, Manhattan Beach, and North Redondo Beach, I've never lived in South Redondo Beach although ironically when I moved to the Beach Cities from Seattle a number of years ago, South Redondo was my desired destination."

South Redondo Beach features 2 of the largest condo complexes in the Beach Cities: The Village and Brookside Village. Although the names are similar, they are very different and unique communities. The Village is located along Catalina Av and many units feature ocean views. Brookside Village is further inland at the intersection of Prospect and Camino Real.

Homes on "The Avenues" are very desirable as are properties on The Esplanade which is South Redondo's Strand. The Hollywood Riviera is also highly desirable with many homes offering "Queen's Necklace" Ocean views.

View South Redondo Beach Homes for Sale listed in the MLS and visit www.90277realestate.com for more information on buying or selling South Redondo Beach Real Estate.

Westside, South Bay, and Beach Cities Homes for Sale: Ellis Posner says "I launched Socalistings in order to provide some insights into neighborhoods and market segments that I didn't have the time to devote full websites to." Yes, that's the site you are on now where you can search the MLS for homes for sale throughout the South Bay and Westside. In addition to the cities described above, you can view multiple listings (including bank owned foreclosures and auctions) in Rancho Palos Verdes, Rolling Hills Estates, Beverly Hills, Santa Monica, Culver City, Marina Del Rey, Playa Del Rey, Santa Monica, Playa Vista, Westchester, El Segundo, and other locations.

Socalistings on Facebook: You can find Socalistings on Facebook. Connect with your friends and follow Ellis Posner's Real Estate updates. Enjoy!