by Calculated Risk on 9/10/2008 11:16:00 AM

Mathew Padilla at the Mortgage Insider and the O.C. Register is tracking 10 REOs in Huntingon Beach, CA. to determine pricing and how quickly they sell. See: Time to buy a foreclosure in Surf City?

Although this is a small sample, it will be interesting to follow. There is also a slide show of the properties.

My initial reaction is that these prices are still too high. The following 3 BR / 2BA, 1,123 sq. ft. REO is being offered at $449,900. The house was built in 1960, and last sold for $610,000 in Sept 2006.

As houses sell, I'll include an update ...