Fusion South Bay Impacted by Short Sales

Fusion South Bay, one of the few relatively newer construction complexes in the Beach Cities vicinity has been hit rather hard by a wave of short sale listings which have certainly impacted prices. As the first wave of owners primarily bought when construction was finished in 2005-2007 unfortunately this was at the very peak of market prices. Currently there are an abundance of listings with very few sales partly due to a potential litigation against the builder. While certain lenders are still doing loans in Fusion, it has slowed down sales fairly dramatically compared with the brisk sales of late 2010.

There has only been one sale in the past few months and ironically the buyers flipped the home and it is now the only current pending sale.