San Pedro, CA Condo & Townhome Sales for the Month of September 2013

By
Real Estate Agent with Keller Williams Realty, LA Harbor BRE#01311750

San Pedro, CA Real Estate

Condo & Townhome Sales

For the Month of September 2013

 

Vincent Thomas Bridge

There were 19 closed sales of condos & townhomes in San Pedro, CA in the month of September 2013. Prices ranged from $185,000 to $449,000. 

 

As the market continues to be slim pickens for properties, many buyers have turned to condos and townhomes as options for purchases.  However, of the 19 closed sales in San Pedro, CA in September, NONE of them were purchased with FHA loans! This is bad news for so many buyers trying to enter the market and purchase their first home.  Many would think that buying a condo or townhome would be easier and less expensive.  Right now, it is quite the opposite.

Of the 19 units that sold, financing was as follows;

14 purchased with conventional loans, 5 purchased with cash.  NO FHA financing was used in any of the sales.  Partially because an entire complex must qualify for FHA approval in order for an FHA loan to be obtained to buy a unit there.  For those buyers that either don't have a FICO score that qualifies them for a conventional loan OR do not have at least 5% down, it makes it impossible for them to purchase in certain complexes.  It limits their choices. 

The areas of San Pedro where these sales occured are broken down as follows;

 

Palisades 3

Point Fermin 1

Vista Del Oro 2

Plaza 1

Miraleste Pines 3

San Pedro North 9

 

Sales types do play a part as well.  Standard sales accounted for almost all of the sales (14). Short sales have become more rare (4). HUD homes are government owned homes that were acquired through the foreclosure process and (1) property was this type.

 

 

 Closed Sales  19
    List Price ADOM Selling Price BR BA Year Built SqFt Lot SqFt
Min 175,000 6 185,000 1 1.00 1971 594 5,001
Max 449,000 147 443,000 3 3.00 2006 1,713 545,917
Avg 305,326 50 308,600 2 2.16 1982 1,178 186,260
       

 It helps to have a Realtor that knows San Pedro and all of it's neighborhoods. Your agent should also be well versed in loan programs and which complexes will allow you to purchase with FHA financing should you opt to use that type of financing.

I live and work in the community of San Pedro and I am here to help you to navigate through this competitive market.Whether you are buying or selling a San Pedro condo or townhome; Give me a call today! 310-944-8062

 

This is Wendy Rich-Soto, Your San Pedro Real Estate Girl~ Signing off...

 

 

 

 

 

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 www.SellingLASouthBay.com

 SellingLASouthBay.com

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Topic:
Home Selling
Location:
California Los Angeles County San Pedro Miraleste Pines
Tags:
san pedro ca real estate
condos and townhomes san pedro ca
point fermin condos and townhomes
vista del oro condos and townhomes

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Rainmaker
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Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Wendy, I love San Pedro one of the best and last values surrounded by water, thank you for the follow, Endre

May 10, 2016 04:12 PM #1
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Rainmaker
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Wendy Rich-Soto, Realtor Strategize, Stage, Sell

Owner of SellingLASouthBay.com @ the WRichTeam
Ready to buy OR sell? Call me today!
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