Palos Verdes foreclosures
Not a week goes by when a client asks me about Palos Verdes foreclosures or foreclosures somewhere in the South Bay and Beach cities.
The fact of the matter is that they don’t exist … ok, that’s not quite true, but in all practical purposes they don’t. At least the Palos Verdes foreclosures that are in the category that I’m asked about. That category is the group of homes that in foreclosure but are not listed.
I’ve written about this in this article about Palos Verdes foreclosures. The article discusses the three stages in the foreclosure process but more importantly in which stage rests the best odds for getting a deal on any of the Palos Verdes foreclosures that exist at any point in time
But here’s the problem, it is exceedingly rare to find that any of these homes go to auction and the sense of urgency we need one of these homeowners to feel in order to work the kind of a deal I write about in the above article, is non-existent as long as the auction keeps getting postponed and postponed again.
Did you know that in the last week, there were 9 auctions that were scheduled. None of them occurred; of the 9, one was cured and the others were postponed yet another month. Some of these postponements were the 3rd, 4th and even 5th time.
This speaks to a much larger topic of economic efficiency, moral economics etc. which I won’t address here.
The point of this brief blog post on Palos Verdes foreclosures is this –
- if you’re looking for a deal, in this low supply-high demand market a “deal” is sometimes getting the house you bid on at its listed price
- if you’re looking for a deal in the foreclosure market, it’s unlikely to ever happen and the time it will take to find that 1 in a 100 deal, so much time will have passed that homes will have appreciated to the point where that “deal” price is more than what you could have paid retail months before.
Get real, forget about the deal. Think about getting a home you want at a fair price. The “deals” are in Detroit … have fun moving there.
If you would like to investigate the Palos Verdes foreclosures distressed property listings, use this map based search engine: (follow the link to the original content of this article)
Palos Verdes Foreclosures
Original Content: George Fotion, HomeIsPalosVerdes.com
