There are four Oceanfront Townhouse developments in Long Beach:
- South Beach
- Ocean Villa
- Ocean Park
These units are very desirable and only a few come on the market. The big news is that one of them will be auctioned on May 27th in a public bankruptcy auction. To bid on this property you need to bring a certified check for $50,000 and you need to close within thirty days.
This property was on the market at an exorbitant price and is a good example of the danger of overpricing in a declining market.
One should be very careful not to let their emotions allow them to overbid
Word to the wise do not attend a property auction without a trusted real estate professional.