Ocean views are among the attractions for buyers of homes for sale by owner in Manhattan Beach, California.
This beach city is only 19 miles from Los Angeles and just 3 miles from the Los Angeles International Airport. Its area is only 3.88 square miles, but its beach front measures 2.1 miles.
People like to go to Manhattan Beach often to enjoy its 11 parks on 80 acres and get exhilarated from pier fishing, surfing, beach volleyball, bike races, tennis tournaments and other beach front leisure activities.
For prospective buyers of homes in this city, they would not find it difficult to resell as the combination of great ocean views, leisure and good community easily win over families. Currently, there are 36 foreclosed homes for sale in Manhattan Beach, CA and 185 pre-owned homes, a number of which are homes for sale by owner, based on one real estate website. The sales price median for homes sold in April was $1,473,000 and the average listing price for current listings is $2,320,224.
Buying foreclosure properties in a scenic, accessible and affluent beach town entails higher capital, but it also offers prospects for greater profits. On another major real estate website, there are 177 foreclosure homes and 232 previously owned homes, with the average listing price at $1,223,527. The homes featured on the front page are priced $1,804,943 and $1,799,925.
In Manhattan Beach, the median home value is $1,789,200 and the average monthly rent is $1,361. There are more homeowners, as 63 percent of residents own homes and 33 percent rent. The median family income is $147,485, based on 2007 estimates.
Meanwhile, the number of California foreclosed homes continues to be the highest among states. There were 15,946 that were repossessed by banks and there were another 31,415 units that were posted for trustee sale. Another 24,669 were notified of default and a number of these are distressed homes for sale.
John Cutts has been educated in the finer points of the foreclosure market over 5 years.
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