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.