Manhattan Beach Foreclosures

After a very long 2 year fiasco, we are finally closing the books on 2811 N. Valley in the Tree Section of Manhattan Beach.  The Chase owned foreclosure is finally closed and recorded for $850,000,  which makes this under $400 a square feet.  

But don't be fooled.  This one was on a skinny 25X100 lot on the busy Valley Drive.  The property appraised for $950,000 so it looks like our client got a GREAT DEAL.

This one had 2240 square feet with an additional 450 square feet of "boot leg" enclosed deck on the second story.  The picture we are showing was taken prior to the patio enclosure back in 2010.

For more information on details on this sale or any other Manhattan Beach Tree Section Homes, please call Matt Pernice at (310) 808-3247.

Looking for the full listing on this property?  Find the detailed report on 3615 Crest Manhattan Beach.

Description:
Ocean View Duplex in The Sand Section of Manhattan Beach.  This property is owned by Chase Bank and is one of two Foreclosures in Manhattan Beach.

Additional Details:
Asking $905,000
Legally Zoned Duplex
Built in 1958, but remodeled several times
1450 Square Feet
1350 Square Feet Lot Dimensions of 30X45
3 bedrooms and 3.0 bathrooms total

Major banking institutions in the nation are starting to shift gears on how they deal with non-performing mortgages. Before now, banks would focus on liquidating non-performing assets by going through the foreclosure process via trustee sale. The banks would then take these assets and hire outside assets management firms that would in-turn hire Realtors to dispose of them. Banking institutions are not in the business of holding real estate inventory rather they make their money on the yield they receive from the payments.

These outsourcing asset management firms include LPS, New Vista, 24 asset, REO World, Green Rover Capital, Atlas REO, PMH Financial, and Precision AM. LPS was recently hired by Chase to handle all of the higher end properties while

2600 Oak Manhattan Beach, CA 90266: This once quaint 794 square foot house with 2 bedrooms and 1 bathrooms owned by Bank Of America is back from the dead with authority as a new 3200 square foot Mediterranean monster. This beach cottage had multiple failed short sale attempts in November 2010 and then again late in 2011 with a asking price of $729,000. Shortly after, Bank Of America eventually got tired of the back and forth and decided to foreclosure on the property. Speculating... Might have had to do with the $5.00 stock price, maybe they needed the money.

The small cottage turned into a REO in 2012 found multiple bidders once it hit the market and 30 days later closed for $700,000 to local builder William Campbell. The once small bungalow has

Despite the downturn in the economy in the past few years, the Manhattan Beach real estate market has been very fortunate not to be hit with an abundant amount of foreclosures. The Manhattan Beach real estate market is a higher end real estate market and usually sees buyer activity dictated by stock market movements. When the stock market sees more volatility buyers become uncertain and move to the sidelines until the dust settles.

Buyers looking to be aggressive purchasers sometimes request Manhattan Beach foreclosure inventory and are usually surprised to learn that there is no inventory in this beach city. Manhattan Beach does have the occasional foreclosure and so we have prepared a list below of the foreclosures that have hit the Manhattan Beach

3615 Crest Manhattan Beach, CA 90266: This Manhattan Beach sand section duplex is currently owned by Chase Bank and will be coming to market May 2012. It's all about the view in this legally zoned duplex that can easily work as a SFR by removing the door that separates the upstairs from the downstairs.

The property consists of 3 bedrooms and 2.5 baths with spectacular ocean views from both floors. With great ocean views, expansive view decks, and a very flexible floorplan, this property can provide a number of options. It works as a 3 bedroom, 2.5 bath home, or as a 2 bedroom home w/ separate guest quarters or, as a duplex.

The property sits on an oversized half lot with a two car garage and laundry facilities. With unblocked white water ocean

2811 Valley Manhattan Beach 90266: This tree section home has traded hands several times in the past 10 years. Selling for $969,000 in 2004 to selling in 2007 for $1,195,000. The smaller 2500 square foot lot with dimensions of 25X100 on the busy street Valley has recently founds its way to a new owner via foreclosure.

Chase Bank now owns this home and recorded a foreclosure date on 9-12-11. Our firm has been hired by Chase to dispose of this asset in the coming months. This home includes 4 bedrooms, 3 bathrooms a great room with stone fireplace and vaulted open-beamed ceilings.

A family room with a built-in sink with granite counters and plenty of space for entertaining. The kitchen has seen a recent remodel roughly two years ago with new