As reported on this blog last month we have two REO's on the market in Westwood. And this week they both received price reductions. The Spanish house pictured left at 2202 Veteran Ave., LA CA 90064 received a 7.3% or $60,100 price reduction, down to $764,900. Originally listed on 7/7/08 for $825,000, this REO has been on the market for 53 days. According to the MLS, the stats read as a 3 bedroom / 1 bath, 1,312 sq ft of home on a 6,750 sq ft lot. The house pictured on the right at 2370 Prosser Ave., LA CA 90064 received a more subtle reduction of 2.3% or $18,000, down to $756,900. This home was listed on 7/17/08 for $774,900 and has been on the market 43 days now. According to the MLS, this home is a 2 bedroom / 1 bath, 1,182 sq ft on a 5,706 sq ft lot. Both these homes are significant discounts compared to what homes sell for in these neighborhoods. However, I suggest you research the locations of these properties. You can read my previous post here regarding the location of the Veteran property and here for the Prosser property.