• Home
  • FREE Listing Alerts
  • Home Search
    • Current Homes for Sale
    • All Manhattan Beach Listings
      • Sand Section Homes
      • Tree Section Homes
      • Hill Section Homes
      • Manhattan Village
      • East Manhattan – Liberty Village
      • East Manhattan – Mira Costa
    • Search By Home Type
      • Single Family Homes
      • Townhomes
      • Condos
      • Multi Unit-Investment
    • Off Market & Pocket Listings
    • Search By Price
      • Below $1,000,000
      • $1,000,000 – $1,500,000
      • $1,500,000 – $2,000,000
      • $2,000,000 – $2,500,000
      • $2,500,000 – $3,000,000
      • $3,000,000 – $5,000,000
      • Homes Priced Between $5,000,000 and $7,000,000
      • Homes Price Above $7,000,000
  • Sellers
    • What is Your Home Worth?
    • How We Sell Luxury Homes
    • Seller FAQs
  • Neighborhoods
    • The Sand Section
    • The Tree Section
    • The Hill Section
    • East Manhattan/ Liberty Village
    • Manhattan Village
    • MB School Info
  • About
    • Keith Kyle – Top Realtor
      • What Clients Think
      • Press & Media
      • Q&A with Keith
      • Our Yelp Reviews
    • Vista Sotheby’s
    • Vista Sotheby’s Locations
    • Manhattan Beach CA Schools
    • Communities
  • Contact
  • Weekend Open Houses
  • Blog

Manhattan Beach Real Estate

Search Manhattan Beach Luxury Homes for Sale

Why You May Not Want to Get Overly Excited About That Manhattan Beach Foreclosure

February 1, 2016 by Keith Kyle

By Keith Kyle1410 Ardmore Manhattan Beach

Manhattan Beach is a tough market to buy a home in.  In a town where starter homes start in the $1.5M range and builders are buying everything they can get their hands on, you can’t blame buyers for getting a bit excited about that rare foreclosure “opportunity”.  The problem is that the market usually determines what something is worth and in this town, true below market “opportunities” are rare.

The home at 1410 Ardmore, located right near downtown Manhattan,  certainly is a good example of something that’s too good to be true.  Originally listed at $800,000 in early December, this was never a realistic price as it was more than 50% of what it should have been listed.  Unfortunately buyers often think that because it’s a short sale, they just may get it at that price.  In this case, it certainly didn’t take long for them to get an avalanche of offers and on January 6th the home not only went pending, but the price changed from $800,000 to $1,800,000.  That’s a 125% price increase.

While there were endless buyers thinking they might just get the deal of the century, eventually the market dictates what homes are actually worth.

That doesn’t mean that great deals aren’t occasionally out there, but if it seems too good to be true….it is.

 Price: $1,800,000      Original Price $800,000

BED / BATH:   4/3,0,0,0
SQFT(src):   1,605 (A)
PRICE PER SQFT:   $1,121.50
LOT(src):   0.093/4,068 (A)
GARAGE:  /Attached
YEAR BLT(src):  1958
SUB TYPE:   SFR
SALE TYPE:  Short Pay 

 

 

 

Filed Under: Foreclosures, Home Prices, Manhattan Beach, Market Updates, Real Estate Opinion, Search for homes and listings Tagged With: manhattan beach foreclosures, manhattan beach real estate, manhattan beach short sales

Manhattan Market Stats

View all Manhattan Beach Posts

Copyright © 2021 · AgentPress Pro on Genesis Framework · WordPress · Log in