Bank Owned in Liberty Canyon

Liberty Canyon is an interesting neighborhood. For a long time considered too far out to be a West Valley Alternative, and kind of wild, that all changed in the 70's when it was included in the Las Virgenes School District. Still a bit wild, the back gate to Malibu Creek State park is located right at the end of Liberty Canyon, very close to this home. It's a nice home, but comps suggest the bank/owner is overreaching a little here with recent sales falling in the 312-346 dollar per square foot range. The asking price here is $387 per square ft. Buyer beware! There's a couple of other things about the area that any knowledgeable Realtor like me will share with you personally should you be interested in bidding on this home.

Bank-owned Home in Westlake for what a condo used to go for

This 3BR 2 BA 1700 sq. ft +/- home in an old established neighborhood in Westlake Village is bank owned and listed at $559,500. That used to be 1br condo pricing across the boulevard!
Check out the high ceilings and wood frame windows everywhere. When these were built everyone thought they would never sell because of the driveway design( there are four homes each off a common motor court) but it turned out folks appreciated the sense of community such designs fosters. It's impossible not to meet your neighbors.
Ahhhh....if I had unlimited funds I'd add any home in this neighborhood to my portfolio at these prices

Live in Malibu for 338k!

Malibu is an interesting community. It isn't just million dollar plus homes; there are many condos (and mobile homes) for sale in an affordable price point. At the moment, this is the least expensive residential non mobile home property in Malibu. It's a 2BR 2BA condo. Foreclosure, so there's probably some upside built in to the transaction.

It's on PCH so there's that issue to deal with; but people in Malibu all deal with the highway and its condition in the summertime. At times, it seems minor compared to the other real major issues you deal with to live in Malibu. Most of them are natural; some man made. Like all Malibu condos, the HOA is stiff: $585 a month.

Hey investors- 3BR 2BA Condo in Agoura Hills, 185k

Have some cash and looking for a dynamic return? This condo is in Agoura Hills, and due to some conflict in the HOA or the management company there is pending litigation that has rendered their properties unsalable. No one will loan on this building until the litigation is resolved, some time in the future. So it's cash only. Once the litigation is smoothed out, I project these units will sell in the high 200k range. In the meantime, you can get cash flow from renting. But do your homework! There are many reasons why a condo may not be right for you, this is an example in the extreme.

New home sales in March rocket past expectations

Per the Wsshington Post-New homes sales in March shot up 27 percent from their record lows in the previous month, as home buyers rushed to take advantage of the government's purchase credit before it expires at the end of this month.

Sales rose to a seasonally adjusted annual rate of 411,000, the biggest monthly jump in 47 years and the strongest month since July, the Commerce Department said this morning.

The sales figure blew past forecasters' estimates, which expected an annual sales rate of 330,000.

The other good news is that the median sales price of a new home rose slightly compared with last year, up 4 percent to $214,000.

The downside to this good news is that the housing market remains in distortion, thanks to the continued government incentives. We won't get a clean number on home sales until June, because May will be the first month when homes are sold without any sort of government incentives (assuming that Congress does not extend the credit again).

The markets have responded favorably to the news.

In the first 45 minutes of trading, the Dow is up nearly four-tenths of 1 percent.

The broader S&P 500 is up three-tenths of 1 percent and the tech-heavy Nasdaq is up one-quarter of 1 percent.

Gated Calabasas Park in Bankruptcy- listed @ 1,750,000!

Over the years, I've been very active in high end Calabasas Real Estate. I participated in two gated developments that were inspired in part by Harlan Lee's "The Ridge" project. If I'm not mistaken, this was builder Harlan Lee's personal home up there on the "Ridge of Calabasas", which is a nice enclave above old-school Calabasas Park. It's 5 BR and 6 BA in 5607 sq. ft, on a 12,000 sq ft lot. He sold it back in the 90's and moved on to other projects. These particular homes feature very nice finishes and materials, teak doors and floors and travertine mosaics and such. Nice square footage, my only quibble when he built these was that the yard was too small for the size of the home. That didn't seem to bother folks.

This home is part of a larger bankruptcy of the current owner. Comparable homes on that street typically sell for over 2 million, so this is right on the money with a little upside if you care to bid.




This area is a very desirable part of Calabasas Park, not as remote as the newest developments. Call me to view this and other estates in the Calabasas area.

Fannie Mae Owned Condo in Westlake Village- 279k!

This Westlake Village Condo sold in 2007 for $417,000. Really nicely done, I think it's a great investment. There are no more lots available in Westlake to build. So this falls inthe "upside due to scarcity" category. Call me to view this great Westlake Village condo.

Rattlesnakes

Just a heads up....we received an email from a resident who lives above La Canada Park (off Erbes north of Olsen) who said he had a baby rattlesnake on his patio last week. Looks like rattlesnake season is early this year.
The snakes you may encounter in Southern California are typically unaggressive and simply wish to be left alone. The most common dangerous snake in Southern California is the rattlesnake.

Rattlesnakes can be visually identified by their rattles and their triangular head.

Rattlesnakes can sometimes be identified by the rattling sound their tail makes; however, they do not always make noise. They rattle their tail when feeling threatened, but not when they are surprised or if their rattle is wet or if their rattle has been broken off. Your first warning may be a snake bite!

Rattlesnakes can strike faster than the human eye can perceive, at a distance two-thirds theirown length. Unlike other snakes, the rattlesnake can strike without pulling back, then lunging forward. Their "body language" will not tip you off that they are about to strike. So don't get close. Keep your distance. Often, I have encountered rattlers in the open where they are crossing a road, sense human presence, and freeze. If you think you see a "dead" rattlesnake on the road, keep your distance!

Baby rattlesnakes are not born with rattles, but they are born with fangs and a full supply of venom and are dangerous because they do not have control over the amount of venom they inject into a wound. An adult snake may not even inject venom into a wound when striking defensively. Don't play with them!

Animal Control number: For snakes, calls go to: (818) 991-0071.

So when you're looking at those bank -owned properties with overgrown yards, keep the kiddies close and stay on the paths!


Have a great day!

Hidden Hills, Horse Property, 1.3mm!

This great old-school equestrian Hidden Hills home ( 4 BR, 3 Ba, 3057 sq. ft.) is on the market for 1.399 million. If you know Hidden Hills at all, this is incredibly cheap. What's the deal? I'll tell you. This is one of seven homes in Hidden Hills that originally was not in Hidden Hills. I know you're thinking "What the heck are you talking about, Michael?"
Here's the deal. Many do not know this, even current Hidden Hills residents, but long ago when I was a kid growing up there the ORIGINAL Hidden Hills boundary was several hundred yards west of its current location. The first homes past the gate were "not in Hidden Hills" yet they were under its sphere of influence and thus got utilities and emergency services via Hidden Hills, which was also an "area" or "neighborhood", not a city like it is today. The sticking point was that the original owner had subdivided his property into half acre lots, which was contrary to Hidden Hills HOA regulations that specify each lot be a minimum of 43,560 sq.ft. That was a big deal and kept these homes out of Hidden Hills for quite some time. Also, several of the old-school owners of these homes refused to put up the "three rail fence" which is required by city code to surround your property. I think at least one still does not have fences, the first home on the left past the gate. So this home featured is among the few homes in the City of Hidden Hills not to have a one acre lot. It's still plenty big, and inside the magical land of Hidden Hills. There are a couple of cheaper homes for sale, but they back up to the freeway. This one has that classic look and minimal freeway noise. I often reminisce about the time I passed on buying the longtime office at the front gate, converted to a home, for $42,000 back in 1977. It's not there anymore but the land it sat on is worth about 60 times that today.


photo courtesy of City of Hidden Hills

Have an iphone? ZIP Realty has a great app for you!

PHOENIX - There's a big incentive for first time home buyers right now. To qualify for an $8,000 federal tax credit, deals need to be in contract by April 30 and closed by June 30.

If you've ever gone house hunting, you know how time consuming it can be. But forget scanning the Sunday newspaper for open houses, there's a new iPhone app to help house hunters!

Drive around in the neighborhoods you like and get information about a home for sale on the iPhone.

Like a towering palm tree, the sky's the limit with real estate options these days and sometimes the options and information can be, well...a little overwhelming, but the tide has turned!

Juan Lesmes is in search of the perfect Phoenix home and that's what has his undivided attention on his Apple iPhone. With a simple touch, Juan can find out the price, whether the home has towering ceilings, an upgraded kitchen and of course, the square footage.

It's a new iPhone application called "HomeScan" developed by Zip Realty, an internet-based real estate company out of California that profiles homes for sale in major markets all over the country.

The app is GPS based and will even show available properties down the street or 3 miles away - it's all at your fingertips. It also used “augmented reality” technology to let you point the iPhone's camera at a house to see the price, interior photos and all the available MLS information about any home for sale (and pricing of recently sold adjacent homes as well).

It looks like modern technology now has a grasp on the real estate world and it may be something we'll see more and more of.

Currently, you can download and use the HomeScan app for free.

BANK OWNED HORSE PROPERTY in Thousand Oaks for 570k!

This is a great "flip" candidate, although you'd really have to be careful. There's plenty of upside here for anyone, half acre lot (THEY DON'T MAKE THOSE ANYMORE)and the kitchen has already had some $$$ tossed at it:
pretty cool, huh?
3 BR, 2 BA,2000+ sq. ft.

This kind of home is just not available every day in Thousand Oaks. Call me to view.

ZIP Realty: TOP 5 , NATIONWIDE

ZipRealty ranked #5 real estate brokerage nationwide out of 300 , according to These Guys