Currently, there are 3 bank owned (REO) active listings in Torrance (proper Torrance excluding Torrance PO areas) and 26 short sale (pre-foreclosure) active listings. In comparison, there are 107 standard active annd 58 pending (under contract) listings in Torrance today.

11 bank owned, foreclosed homes are currently under contract, 5 sold in Nov 09 vs. 13 in Nov 08.

There are currently more short sale homes under contract - total of 63.  17 short sales closed escrow last month vs. only 6 in Nov 08.  Hopefully they will all close although past experience would dictate caution.  Banks have been very tough to negotiate those contracts.  In order to put things in perspective, here is additional data: last month the total of 17 short sales closed successfully vs. only 6 a year ago.  Thus we do see some progress in helping homewners that are "upside down".

In you're interested in Torrance real estate and looking for a real estate deal, short sale or bank owned (REO) property might be exactly what you're looking for! 

Please call me at (310)918-5027 or email Info@ISellSouthBay.com and I'll help you find a home of your dreams, or an investment that makes sense! 

It's a great time to buy!  Prices have come down, interest rates are low, and the first time home buyer tax credit is still available.  It will expire in April 2010 though!  Don't let this opportunnity to pass you by! Contact me today!

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Visit www.ISellSouthBay.com for more information on Torrance foreclosures as well as other South Bay area foreclosures.