As I work with a number of short sale sellers and buyers I do realize that the market has been dramatically impacted by these distressed sales.....but the reality even surprises me once in a while. I was just doing a quick search of single family homes in Gardena California, for homes with 3 bedrooms and priced under $400,000. Now granted that anything in the South Bay under $400,000 is a reach but I just couldn't believe the results. Of the 18 homes priced under $400,000 that are currently active, 13 of them are "distressed" sales with 12 short sales and one bank owned....that's over 72%! While this makes for some great opportunities for buyers, it looks as though we'll continue to have some downward pressure on prices for a while. MLS # Type St# St Name Price Br/Ba Sqft SType ...
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