Posted by Cheryl Johnson
April 29, 2009
Los Angeles Neighborhood Housing Services and the Los Angeles County Department of consumer Affairs are presenting a free foreclosure workshop tonight.
Wednesday April 29, at 6:30 PM
At The River Center, 570 West Avenue 26, Los Angeles, CA 90065
The workshop is sponsored by the Foreclosure Action Network, the Lincoln Heights Neighborhood Council and the Glassell Park Neighborhood Council. For information please call: 323-600-3737
Posted by Cheryl Johnson
April 5, 2009
There are plenty of statistics, reports and graphs dealing with the presence of foreclosures in current real estate market in Los Angeles. However, sometimes studying one individual case can present a clearer picture than all the combined data.
This 3 bedroom, 1 bath bank owned home is located in a commercial corridor in Highland Park, very near to the Eagle Rock border. City records indicate approximately 940 square feet on a lot that is approximately 7,500 square feet. It is currently listed at $230,000.
It sold in September, 2001 for $151,000.
It re-sold in March, 2004 for $195,000.
It was refinanced in June, 2006 for $310,000.
It was listed for sale in July, 2007 for $590,000. It did not sell at that time.
It was re-listed for sale in February, 2008 for $384,000. It did not sell at that time.
The Notice of Default was filed in September, 2008.
The Notice of Sale was filed in January, 2009.
The Trustee Sale took place in January, 2009.
The property is now bank owned and listed for sale at $230,000.
This article is not intended as an advertisement of any property listed by another brokerage firm. It is intended only as a report of current real estate market conditions.
However, if you are interested in purchasing a property in today's market, we have a staff of highly qualified agents ready to assist you.
Posted by Cheryl Johnson
April 5, 2009
Los Angeles Pushing GREEN Paradigm into Homes
Implementing and enforcing the state’s environmental protection laws, The California Environmental Protection Agency ensures clean water, air, soil and waste recycling is performed throughout the state. This agency is at the forefront of science and research to lead to a cleaner, healthier planet for all. With a variety of home materials on the market still not banned b the federal government, there has been an overwhelming amount of concerned citizens regarding asbestos exposure. California is one of many states implementing sustainable methods of construction. Many new homes that are foreclosed may require renovation or repairs, especially in areas susceptible to natural disasters. This process may require inspection for hazardous materials. The path to owning a home is an exciting time for everyone, but one that will bring additional responsibilities. Utilized in thousands of construction and building applications throughout the 20th century, asbestos was a highly regarded mineral due to its heat resistant properties. Potential Los Angeles home buyers, foreclosures or those remodeling older homes should be aware that homes built before 1980 may still contain asbestos. Due to a steady progression of technology and green sustainable methods, there are many ways to ensure your home or property is asbestos free. Asbestos exposure is easily prevented by taking simple precautions. Although un-damaged asbestos does not pose any harm, you should be aware that the inhlation of airborne asbestos fibers can cause mesothelioma, a severe lung ailment associated with asbestos exposure. Mesothelioma treatment has varied affects on individuals, with many factors impacting mesothelioma prognosis. These include age of diagnosis, latency period and age of diagnosis. If any asbestos is suspected, the best advice is to leave it un-disturbed. . Sometimes the best action is no action. A home inspector can determine the proper course of action. Asbestos removal in public facilities, homes and workplaces must be undertaken by a licensed asbestos abatement contractor. The removal of asbestos is a finite process that must be done by a professional. The United Nations Environmental Program states that the use of recycled building materials such as cotton fiber insulation can reduce energy use by 25 to 35 percent. The numbers continue to improve as more eco-friendly options become available. The list of options also includes cellulose and lcynene foam. With a lackluster economy, these kinds of figures have attracted those who were unaware of eco-friendly construction. Not only will these asbestos alternatives reduce energy costs, they allow a lifestyle that promotes a clean, free of health damaging materials.
Posted by Cheryl Johnson
April 2, 2009
There are plenty of statistics, reports and graphs dealing with the presence of foreclosures in current real estate market in Los Angeles. However, sometimes studying one individual case can present a clearer picture than all the combined data.
This bank owned duplex in Highland Park is located in the hills overlooking York Valley. City records indicate appoximately 2,000 square feet, built in 1960. The listing remarks indicate a 3-bedroom, 1-bath unit upstairs, and a 2-bedroom, 1-bath unit downstairs. It is currently offered for sale at $339,000.
It originally sold 1976, for $82,500.
The next sale, over 30 years later, in December, 2005, was for $630,000, with a mortgage loan of $504,000.
The Notice of Default was filed February, 2008.
The Notice of Sale was filed May, 2008.
The Trustee Sale took place June, 2008.
The property is tenant occupied. The listing remarks indicate gross rental income of approximately $2,000.
Consider this: With a loan of $504,000, the previous owner's monthly mortgage payment would have been approximately $2,800. The previous owner's annual property taxes would have been $7,875 per year (or approximately $650 per month). Add in water, gardening, and a little for repairs and maintenance, and it appears the previous owner would have been running a negative of over $1,500 every single month.
Compare with this: The payment on a loan of $271,000 (80% of the current asking price) would be about $1,500. Annual property taxes on a sale price of $339,000 would be approximately $4,200.00.
Someone buying this bank-owned property at the current asking price of $339,000, actually has a good chance of breaking even each month.
This article is not intended as an advertisement of any property listed by another brokerage firm. It is intended only as a report of current real estate market conditions.
However, if you are interested in purchasing a property in today's market, we have a staff of highly qualified agents ready to assist you.
Posted by Cheryl Johnson
March 22, 2009
There are plenty of statistics, reports and graphs dealing with the presence of foreclosures in current real estate market in Los Angeles. However, sometimes studying one individual case can present a clearer picture than all the combined data.
This bank owned home in Highland Park is approximately 890 square feet. It has 3 bedrooms, one bathroom, on a 4,800 square foot lot. It is currently offered for sale at $164,900.
It was listed for sale June 2004 as a fixer at $399,000. It was later reduced to $349,000; and it sold in October 2004 for $360,000.
It resold March 2006 for $445,000.
Notices of Default were filed, and re-filed December 2007, March 2008, May 2008, July 2008 and August 2008.
It was listed for sale August 2008 for $247,000. It did not sell at the time.
The Notice of Sale was filed December 2008.
The Trustee Sale took place January 2009.
The property is currently bank owned and offered for sale at $164,900.
This article is not intended as an advertisement of any property listed by another brokerage firm. It is intended only as a report of current real estate market conditions.
However, if you are interested in purchasing a property in today's market, we have a staff of highly qualified agents ready to assist you.
Posted by Cheryl Johnson
March 18, 2009
There are plenty of statistics, reports and graphs dealing with the presence of foreclosures in current real estate market in Los Angeles. However, sometimes studying one individual case can present a clearer picture than all the combined data.
This is a 3 bedroom, 2 bath bungalow in the Garvanza District of HIghland Park. It is approximately 1,081 square feet. Some renovations were made by a previous owner. It is currently bank owned and offered for sale at $319,900.
It sold in May 1999 for $120,000.
It sold in September 2002 for $240,000.
It was listed in January 2005 for $460,000, and sold in March 2005 for $470,000.
It was transferred in March 2006 with an indicated value of $520,000, and a mortgage of $468,000.
The Notice of Default was filed in February 2008.
The Notice of Sale was filed in May 2008.
The Trustee Sale took place in July 2008.
The property is currently bank owned and offfered for sale at $319,900.
This article is not intended as an advertisement of any property listed by another brokerage firm. It is intended only as a report of current real estate market conditions. However, if you are interested in purchasing a property in today's market, we have a staff of highly qualified agents ready to assist you.
Posted by Cheryl Johnson
March 14, 2009
There are plenty of statistics, reports and graphs dealing with the current real estate market in Los Angeles. However, sometimes studying one individual case can present a clearer picture than all the combined data.
This bank owned 2 bedroom, 1 bath home near the Garvanza District of Highland Park has experienced foreclosure more than once.
It is currently offered for sale at $299,500.
In June 1983, it sold for $62,000.
It was previously foreclosed on in November 1998. County records show a value of $83,900 at the time of that foreclosure.
It was listed in April 1999 for $140,000.
It sold in August 1999 for $115,000.
County records indicate refinances in 2001, 2002, twice in 2005, 2006 and 3 times in 2007. The highest mortgage amount in 2007 was $380,000.
The home was listed for sale in December 2007 for $429,000. It did not sell at that time.
The home was again listed for sale in February 2008 as a short sale for $385,000. It did not sell at that time.
The Notice of Sale was filed in May 2008.
The Trustee Sale took place in June 2008.
The property is currently bank owned and listed for sale at $299,500.
This article is not intended as an advertisement of any property listed by another brokerage firm. It is intended only as a report of current real estate market conditions. However, if you are interested in purchasing a property in today's market, we have a staff of highly qualified agents ready to assist you.
Posted by Cheryl Johnson
March 13, 2009
There are plenty of statistics, reports and graphs dealing with the current real estate market in Los Angeles. However, sometimes studying one individual case can present a clearer picture than all the combined data.
This bank owned home, located in Glassell Park, is currently for sale. It is 2 bedroom, 2 bath, approximately 1,500 square feet. It is currently offered for sale at $324,900.
It sold in 1995 for $134,000.
It was listed for sale in November 2004 for $545,000, and sold in January 2005 for $545,000.
It was refinanced in April 2006 for a total of $608,000.
It was refinanced in September of 2006 for a total of $626,000.
It was listed for sale in September 2007 as a short sale at $520,000. It did not sell.
The Notice of Default was filed April 2008.
It was again listed for sale as a short sale at $520,000 in April 2008.
The Notice of Sale was filed July 2008.
The Trustee Sale took place in August 2008.
The property is currently bank owned and listed for sale at $324,900.
This article is not intended as an advertisement of any property listed by another brokerage firm. It is intended only as a report of current real estate market conditions. However, if you are interested in purchasing a property in today's market, we have a staff of highly qualified agents ready to assist you.
Posted by Cheryl Johnson
March 12, 2009
There are plenty of statistics, reports and graphs dealing with the current real estate market in Los Angeles. However, sometimes studying one individual case can present a clearer picture than all the combined data.
This bank owned home is currently available for sale. It is a modest 2 bedroom 1 bath home of approximately 1,000 square feet in Glassell Park.
It is currently offered for sale at $259,900.
It was previously foreclosed on in August 1997. County records show a value of $85,500 at the time of that foreclosure.
The foreclosing lender sold the property in February 1998 for $88,500.
The property was first listed for sale in April 2005 for $495,000. It was relisted in June 2005 for the same price, and sold in August 2005 for $495,000.
The Notice of Default was filed in Octtober 2007.
The Notice of Sale was filed in January 2008.
The Trustee Sale took place in February 2008.
The property is currently bank owned and listed for sale at $259,900.
This article is not intended as an advertisement of any property listed by another brokerage firm. It is intended only as a report of current real estate market conditions. However, if you are interested in purchasing a property in today's market, we have a staff of highly qualified agents ready to assist you.
Posted by Cheryl Johnson
March 10, 2009
There are plenty of statistics, reports and graphs dealing with the current real estate market in Los Angeles. However, sometimes studying one individual case can present a clearer picture than all the combined data.
This bank owned home in the Historic District of Highland Park is currently available for sale. Public records indicate a 3 bedroom, 1 bath single family home of 1,572 square feet. It has been converted into a duplex, with 2 bedrooms, 1 bath in each unit. It is in need of repair. It is offered for sale at $289,900.
It sold in 1992 for $135,000.
It was listed for sale in March 2007 for $565,000 and sold in July 2007 for $577,000.
The Notice of Default was filed in October 2007.
The Notice of Sale was filed in January 2008.
The Trustee Sale took place in January 2008.
The property is currently bank owned. It was originally listed for sale in August 2008 at $304,900. It has now been reduced to $289,900.
This article is not intended as an advertisement of any property listed by another brokerage firm. It is intended only as a report of current real estate market conditions. However, if you are interested in purchasing a property in today's market, we have a staff of highly qualified agents ready to assist you.
