Posted by: ilovethewestside | July 7, 2008

Lovely LA Luxury, Foreclosures…

That’s right luxury foreclosures in Los Angeles. In this instance I’m using a price point starting at $2,000,000. As of today, their is a short sale & the remaining are bank owned homes. What is the difference?

According to Kristine Halverson, 360 Realty’s Foreclosure & REO Specialist, their are different phases of foreclosure. The first is the pre-foreclosure stage, this is when the bank steps in to do a short sale. The short sale process can result in a sale. If a sale is not made, then the home goes into foreclosure. At this point, a bank will take over the property; the property is now an REO (real estate owned/lender owned property).

The first on the list, researched from the mls, is a $2,000,000 home in the Hollywood Hills. With five bedrooms and five bathrooms at almost four thousand square feet. This home has the amenities of a high end home. Views of downtown Los Angeles, the ocean, & twinkling city lights. A gym, four fireplaces, designed touches throughout. This location is close to the infamous Sunset Blvd. close to nightlife, Beverly Hills, & a scenic drive all the way to PCH. For more information or to arrange to see this home, contact me. see image below

The second, being a REO, is listed at $3,499,000 and located in the city of Calabasas. This is a beautiful private property, walled &gated, & on over two acres of land. A natural stream runs through the scenic grounds. The home just shy of 7000 square feet has five bedrooms and 6 bathrooms. Here is a picture taken from the mls for your viewing pleasure.

Last, but definitely not least (at $7,250,000), is a Malibu REO. This is the creme de la creme of REO’s. On a gated street in a private cove of desirable Broad Beach area. With five bedrooms, four bathrooms, and three ocean front decks the home is over three thousand square feet. For those of us who want to smell, hear, taste, touch, & see the ocean from every room & every day…this is the where it’s at.

For more information on luxury foreclosures lists contact me.

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Responses

  1. I just wanted to add that we first attempt to keep our clients in their property. If not, then the short sale process begins together with the bank like Kim said. They are thankful to have help in finding a buyer for the property. If you have a friend that is potentially in trouble please get in touch. The sooner the better so we can provide all options!!! kristine@renegotiationcenter.com


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