morro bay foreclosures Archives | Vandenberg AFB Homes

2010 Snapshot – Pismo Beach Foreclosure Market

September 24, 2010
Vandenberg AFB Homes
Central Coast Real Estate, Foreclosure / Bank Owned (REO) Info

Pismo Beach, California foreclosure activity: There are 139 active and pending homes and condos in Pismo Beach currently. Of those 139 properties, 9 homes are foreclosures and 12 are short sales. Looking back six months, there have been 35 sales in Pismo Beach with an average listing price of $671,239, and an avergae selling price of $616,669, so sellers are getting about 91.8% of their asking prices in Pismo Beach

April 18, 2009
Vandenberg AFB Homes
Central Coast Real Estate, Foreclosure / Bank Owned (REO) Info

You would think that once a bank found a willing buyer, who won the "highest and best" bidding process for a foreclosure property, they would be hot to close the transaction. Well think again. I've actually had an all cash buyer trying to close in 10 days (or less) and the bank and their escrow company simply were not able to do it! The buyer couldn't believe it, but having dealt with REO properties many times before I certainly could There are several delays that seem to happen time and time again in bank owned purchases: