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Bank

BANK OWNED FORECLOSURE – MAR VISTA SINGLE FAMILY HOME 4 BEDROOMS $724,900

LISTING HAS BEEN CANCELED

FOUR BEDROOMS / THREE BATHS / 2149 SQ FT HOUSE ON 6000 SQ FT LOT
NEW ON THE MARKET AS OF 1.3.10 – 2 DAYS – LIST PRICE $724,900

I would consider putting first offer in at $675,000 That is $314 Per Square Foot

MAR VISTA 4 BED 3 BATH HOME JUST 10 MIN.FROM SANTA MONICA AREA, CLOSE ENOUGH TO FEEL THE BREEZES AND MINUTES FROM UCLA. LARGE FAMILY ROOM WITH A COZY FIREPLACE BEAUTIFUL TREES

For the complete listing or to make an appointment to see this property; call me at 310.505.5571 or email bob_schmalz@wlaregroup.com

CAN 9.12.11                                C 01592101MR

BANK OWNED FORECLOSURE – BEVERLY HILLS FLATS SINGLE FAMILY HOME $1,250,000

SOLD *** $1,307,000***SOLD

 

THREE BEDROOMS / TWO BATHS / 2284 SQ FT HOUSE ON 6500 SQ FT LOT
GREAT LOCATION – WALK TO SHOPS
NEW ON THE MARKET AS OF 12.20.10 – LIST PRICE $1,250,000

I would consider putting first offer in at $1,100,000

Great location in Beverly Hills for the 3bedroom, 2.5 bathroom Spanish Style home with gated backyard and electric gate. The interior is in good condition with granite kitchen counters, wood floors and fireplace an d wet bar in living room. Spacious master bedroom with large closet and master bath. Rooms are spacious. Garage has been converted to bonus room

For the complete listing or to make an appointment to see this property; call me at 310.505.5571 or email bob_schmalz@wlaregroup.com

ACTIVE 5.11.11                                                     10-795694

BANK OWNED FORECLOSURE – BEL AIR – POOL — 2718 SQ FT / 11,200 SQ FT LOT

SOLD *** SOLD *** SOLD

THREE BEDROOMS / THREE BATHS / 2718 SQ FT HOUSE ON A 11,200 SQ FT LOT
NEW ON THE MARKET AS OF 12.20.10 – LIST PRICE $1,589,990

Immaculate, move-in condition. Re-done 3 Bedroom., 2.5 Bath, Regency-Style Home built in 1961. Remodeled throughout. Gated Entrance Courtyard, Formal Entry, Living Room with Fireplace and access to rear pool area. Formal Dining Room, Kitchen with open breakfast area, wonderful storage, marble counters, and tall ceilings. French doors lead to side yard/patio area.Master Suite with sliding doors to rear patio has massive walk-in closet with organizers galore, and a spacious bath with a free-standing tub, large walk-in shower, and dual vanities.All bedrooms have plantation shutters. Floors include hardwood, tile and brick. 2-car, direct-access garage with automatic garage door.Over 2700 sq ft of interior space. Security system, Central Air/Heat. Massive Corner lot of 11,000+ sq ft. Room to expand the rear yard/pool area!Gated front and side yards with beautiful landscaping. Quiet cul-de-sac street in Upper Bel-Air.In excellent condition

For the complete listing or to make an appointment to see this property; call me at 310.505.5571 or email bob_schmalz@wlaregroup.com

ACTIVE 1.3.10              10- 326494

BANK OWNED FORECLOSURE- WESTWOOD– 3 BEDROOM CONDO – ALMOST 1800 SQ FT / $40K PRICE REDUCTION

SOLD**SOLD**SOLD

3 BEDROOMS / 2 ½ BATHS/ 1800 SQ FT CONDO
LOWERED PRICE $40,000

LIST PRICE $618,900

COME IN WITH THE FIRST OFFER $525,000????????????

HIGH QUALITY FIRST FLOOR UNIT WITH TOP OF THE LINE FINISHES THROUGHOUT. THIS UNIT FEATURES CONTEMPORARY ITALIAN TILES AND BEAUTIFUL HARDWOOD FLOORS THROUGHOUT. LOCATED ON THE END, THIS UNIT IS VERY PRIVATE. THE MASTER BEDROOM FEATURES 2 LARGE CLOSETS, A PRIVATE BATH WITH A LARGE OPEN SHOWER!

QUESTIONS ABOUT BANK OWNED PROPERTIES??? – FACTS ABOUT REAL ESTATE OWNED PROEPRTIES

Please call 310.505.5571 or email bob_schmalz@wlaregroup.com to get the complete listing or to set up a meeting to see property.

PENDING 3.10.11                                           10-939184

Freddie Mac: Fixed-rate mortgage rates rise again

SAN FRANCISCO (MarketWatch) — Freddie Mac (OTC:FMCC) said Thursday the 30-year fixed-rate mortgage average jumped to 4.61% with an average 0.7 point for the week ending Dec. 9. In the previous period, the average was 4.46%, and the year-ago average was 4.81%.

I have been saying to all buyers that to get the price of a home down another 5% or wait for the market to keep getting lower is a dangerous plan when you are this deep into a buyer’s market. Namely it cannot go down forever! I feel that we are at the bottom and that we have already seen a rise in many markets. There are less and less quality homes in good neighborhoods on the market. Sellers are letting there listings expire and not re-listing.

I was lucky with a few of my clients that did get 3.95% to 4.00% mortgages. Now do not get me wrong 4.61% is a fantastic rate for a 30 year fixed. We are still close to the lowest mortgages in 50 years. But!!!!!!!!!!!!!!!!!!!! I truly believe we will see 5% before we see 4%. A  year from today I predict 5.5% to 5.75%. Mortgage rates will hike your house payments faster then paying for that house 10k, 20k or even 50K more.

HAVE YOU LOST MONEY BECAUSE THE SELLER DIDNT DISCLOSE ALL LIENS

HAVE YOU ENTERED INTO A CONTRACT, GONE INTO ESCROW ONLY TO FIND OUT THE ACCEPTED AMOUNT DOES NOT PAY ALL THE LIENS?

HAVE YOU WASTED 3 OR 4 MONTHS TRYING TO BUY A SHORT SALE AND DID NOT GET THE HOME?

THIS POST IS FOR YOU

In today’s Real Estate Market Short Sales have become a very popular vehicle for buyers to purchase a house at below market value. However there are two things to look at. The premise is not always true, you do not always get a great deal compared to market value. I truly believe the better deals are with an owner that has equity but is in a distressed position and wants to sell.  Also buying  a short sale can mean a lot of work and you still not get the house you bid on. You need to know Short Sales and work with a specialist that knows this intricate and complex way of buying a house.

I have been asked by a few people if they have any recourse where they entered  into a contract to buy a house, went into escrow and sold there house only for it to be shown that the liens on the house is more than the purchase price they agreed to pay. The lien holders would not accept the contract price which amounted to a short sale. A recent court ruling shows a buyer does have recourse not only against the seller but the sellers broker/agent. A seller must disclose that the liens are more that the price being offered and that it would be a short sale.

So don’t let anyone tell you that you have no rights, they may try either as trickery or stupidity on the part of your buyers agent. Always work with a buyers agent that knows distressed sales and more important make sure your buyers agent has checked out that the listing agent is knowledgeable in this field. Do not get involved with a selling agent who will waste your time for months and you have nothing to show for it.

To learn more about Short Sales please click on Facts You Should Know About Short Sales