6082 Niabcm Avenue

I want to mention this house because it is located in (what I consider) the best part of north Redondo - the TRW tract.

Once upon a time, in the midst of the last Great Real Estate Slump of Southern California, this property sold for $189,000 in July, 1994. Those buyers were the lucky ones. They bought near the bottom, and sold around the top in October 2005 for $709,000. Not bad at all!

Apparently those who bought at $709,000 were stretched too far. The house was listed for sale at an initial asking price of $747,000 in October 2006. (A year from purchase - it doesn't take long to get into trouble.) That was knocked down to $739,000 in early November, then $699,000 in mid-November. Then $689,000 around New Year's.

I got word of preforeclosure on March 5. Well something must have happened, because the property is now for sale at $655,000, which was the default amount in the preforeclosure notice.