Woodrow Wilson Mid-Century Modern Hits Market

This 2-story 1962 Mid-Century Modern offering situated in the Cahuenga Pass area north of Mulholland, boasts views and amenities.  7228 Woodrow Wilson, Los Angeles, 90068 is listed at $898,000.

7228 Woodrow Wilson Dr, Los Angeles  90068

With over 2,236 interior square feet for a 2 bedroom 3 bath home, you have plenty of space to roam about as the tranquility of the hillside nature is exposed through plenty of glass throughout the house.  This place shines.  Let's review some of the features.

Hardwood, stone and tile compliment the fireplaces located in both the den and living area.  Not pictured is the Media Room and the 2 master suites.  One suite with a separate entrance.

The listing states the kitchen has been remodeled and "has everything a chef could need for cooking a gourmet meal."  Well, as long as I'm invited, we're good.  Corian counter top, Breakfast Bar and Stainless appliances. 

Oh, the 60s!  The bathrooms have been updated and feature some crazy angles.   

This home embraces the Modern indoor/outdoor floor plan.  Relax in the privacy of your garden as you overlook treetops down the hillside.

 

If this home inspires you and you would like to take a look, please feel free to give me a call, 213-305-8537 to set up a showing.

In the meantime, have a modern day!

Steve Ward
Realtor®, SFR®
Mid-Century Modern Architecture Specialist
modernhomeslosangeles
Keller Williams Realty - Los Feliz
Short Sale and Foreclosure Resource
DRE Lic #01871422
213.305.8537 direct
steve.ward.la@gmail.com
MODCOM - LA Conservancy Modern Committee

Buying Real Estate at Auction - Trustee Sale or Tax Deed

Buying of properties at trustee sale auctions is tricky and risky, and you should hire an experienced Realtor to help you with that. Any experienced realtor can provide you with oodles of information regarding foreclosed homes. Just remember, it is the trustee, not the bank, that sells the home. Since the lender clearly has the most to lose in the transaction, and because they are the beneficiary of any funds received from the sale, they are allow to place the first bid, and are allowed to credit bid (bid without bringing cash to the sale), up to the amount they are owed.

Just know in the state of California, winning bidders pay the entire price in cash or cashier’s checks. You are unable to finance these purchases. Hence, the strong presence of investors at these sales(Foreclosure & Tax Deed) is quite apparent.  With our current economy, I am seeing more and more cash deals transpire by investors than ever before.  Hard money always talks and speaks loudly to any seller, including bank asset managers and the county's assessor's office.

WHY PAY AN EXPERIENCED REALTOR TO WORK WITH YOU?

Not every real estate agent understands the nuances of these particular sales, let alone the common buyer looking for a deal.  There is a great deal of process involved to end up with the deal everyone is looking for nowadays.  Working with an agent who does have the experience will greatly benefit any buyer in the marketplace as it is yet another alternative to the "BOX".  

Bite the bullet and just forecast an additional 3% to your purchase price and BOOM, you are taken care of for a minimal price considering the investment being made.  It is wise to do as much homework as you can on these properties and having an experienced agent by your side to inform and guide you through the process is well worth the nominal fee to ensure as much disclosure as they can.

Properties about to be auctioned at foreclosure auctions can be found through court records, legal notices in newspapers, the real estate classifieds or websites like RealtyTrac. The easiest way is to work with an experienced agent who understands all the nuances to these transactions.

While savvy investors can find deals at foreclosure auctions, not all properties are a steal. The unsophisticated buyer without a real estate professional by his or her side may get carried away during the excitement of an AUCTION. Funny as it sounds, it is true. The euphoria of an auction can sometimes take people over the edge and hence, produce the unwanted 'overbid'.  Having a professional by your side is helpful to keep you on track of the objectives and budget of the transaction.

WHAT AM I GETTING WITHOUT AN INSPECTION?

One of the biggest concerns with purchasing at Tax Deed Auctions is the fact most buyers cannot inspect the property before their bid. The last thing anyone wants to find out later is missing and damaged items.  Trustee Sales are very similar to the County Tax Deed auctions, as buyers are unable to inspect prior to bidding.  Where'd that toilet go?  What happened to all of the electrical wiring?  Forget copper, where's the plumbing?  Again, buyers of auctioned properties incur more risk because of their inability to investigate the home as thoroughly as they could if they bought contingent on appraisal and inspection.

For those who elect to inspect prior to purchase, the Real Estate Owned(REO) properties are better for those buyers.  Bank owned listings are easily generated and can afford a buyer with plenty of information via the Multiple Listing Service(MLS).  The distressed property market is strong here in Los Angeles.  And, you can inspect prior to an offer!  Contact me for a complete list of REO listings in your area/s of choice. 

TITLE CONCERNS

The other consideration to use caution is finding out what title looks like. The last thing someone wants is someone else's baggage.  No one ever wants a clouded title: mechanic's lien, abatements, bank liens, you name it...  The new buyer will be responsible for paying these encumbrances.

Cut through the fog and allow a real estate professional to guide you through the auction process.

WHAT'S THE PROPERTY WORTH?

Get a realistic fair market comparable(Comp) prior to bidding on ANY property at ANY type of auction.

Just be aware the courthouse steps are loaded with cash buyers, seasoned and savvy investors looking to buy. Typically these investors have done their homework and know the fair market values of the properties of interest. You don't want to be the person at the end of the day who goes home and then discovers the value. You want to make sure you have a sound fair market value researched prior to any purchase.  

Do your homework or work with a professional to help guide you. Don't allow yourself to be the buyer with buyer's remorse. Due diligence, folks!

WHERE DO TRUSTEE AUCTIONS TAKE PLACE?

Los Angeles County foreclosure auctions located:

12400 Imperial Highway
Norwalk, California 90650
Auctions take place outside on the steps.


Buyers should be aware and due diligence should take place with every transaction.  For friendly and professional assistance, contact www.modernhomeslosangeles.com.

modernhomeslosangeles Presents 4452 La Granada Way, La Canada, 91011 for OPEN HOUSE TODAY, SUNDAY 2/13 FROM 1-4P

Traditional 4 BD / 2 BA single family situated on a large lot located in desirable La Canada being offered as a Short Pay transaction.  

Great schools!  This home is ready for a family.  Spacious layout with center hall, provides lots of room for a sprawling family.  Large windows throughout allow sunshine into this 1940 charmer.   

Fireplace, hardwood and carpet, complement original tile in kitchen and second bath.  Newer renovation adding a master suite and adjoining master bath allow for peaceful escapes.  Huge outdoor patio area for entertaining and the dog.  Quiet.  Room for pool.  Mature shade trees.

Great location South of Foothill and East of 2 FWY.   1,794sf living   8,400sf lot     

Palm Crest Elem   La Canada Middle   La Canada Senior HS   MLS# 11-50598

FirstLook, Fannie Mae's HomePath.com Program

Not sure if many real estate buyers who meet the requirements of Fannie Mae's FirstLook program are aware of such a great program.  Let modernhomeslosangeles.com explain to you the advantages of the program.  Here it is, plain and simple...

NO INVESTOR COMPETITION on HomePath.com listed properties, typically for the first 10-15 days on market!  Now, do you understand?

Fannie Mae's innovative First Look period contributes to neighborhood stabilization by encouraging home ownership. During this period, owner occupants, public entities, and their partners can submit offers and purchase properties without competition from investor offers. The Neighborhood Stabilization Program was created to address the housing crisis, create jobs, and grow local economies by providing communities with the resources to purchase and rehabilitate vacant homes. The NSP grants that HUD has awarded are helping state and local governments, as well as non-profit developers, acquire land and property; demolish or rehabilitate abandoned properties; and/or offer downpayment and closing cost assistance to low- to middle-income homebuyers. Are you a teacher, Fireman, Police Enforcer?  Welcome to real estate.  This plan directly effects those who work within municipalities, schools and other non-profit agencies.  It's time you took advantage of some benefits especially for you within the Los Angeles real estate market and elsewhere around the country.

Fannie Mae initially rolled out its First Look initiative last fall.  Julia Dugger, Fannie Mae’s senior manager of marketing communications, says the First Look policy provides buyers looking for a primary residence with a “real opportunity” to find an affordable home without having to worry about being outbid by an investor.

Public entities, too, are taking advantage of the no-investor marketplace provided by First Look, particularly those agencies that have been awarded federal funding through HUD’s Neighborhood Stabilization Program (NSP) to purchase, rehabilitate, and resell foreclosed and abandoned properties. 

The Neighborhood Stabilization Program (NSP) was established for the purpose of stabilizing communities that have suffered from foreclosures and abandonment. Through the purchase and redevelopment of foreclosed and abandoned homes and residential properties, the goal of the program is being realized. NSP1, a term that references the NSP funds authorized under Division B, Title III of the Housing and Economic Recovery Act (HERA) of 2008, provides grants to all states and selected local governments on a formula basis.

If you would like to explore more or have further questions, www.modernhomeslosangeles.com.

WEHO ALERT! 855 CROFT FINALLY ON MARKET

Here is the latest SPF:a designed 33-unit condominium complex in West Hollywood. Again, I am a HUGE fan of the Culver City-based architectural firm, but I have some mixed feelings about this building. You may have checked out a blog or two ago regarding SPF:a's Woodbridge 12 in Valley Village? Another beautiful and simple form of architecture with the mantra of responsibility to our ecological resources.

It has taken awhile, but we are now seeing listings hit the MLS. This project has taken some time to get to the completion state. This building consists of 2 Bedroom / 2.5 Bath residences. Listings were released a little over a week ago with only one residence being featured: #206 offered for $645,ooo which includes 1,469sf of interior along with ample balconies. Originally, they were contemplating the offering at $670,000+. Things seem to be subsiding as the market truly is dictating some lower prices on these new buildings / lofts in areas such as Hollywood, West Hollywood and the Beverly Center Area.


These residences all have top of the line features and finishes. The Kitchens are outfitted with a Bertazzoni Range and Bosch refrigerator and dishwasher. Finishes include Caesarstone countertops along with full-height glass tiled back splashes that complement the sustainable Italian designed Modulocucine cabinetry. Anyone into the art of cooking would be thrilled in this chef's delight! It doesn't hurt that SPF:a has an exclusive with Modulocucine.

The handsome bathrooms are nothing less than clean and simple = inviting. Each bathroom is outfitted with responsible materials including the Caesarstone countertops, Modulocucine cabinetry and over sized floor tiles. No more grout! Each bathroom has a soaking tub and glass enclosed shower along with European fixtures. The spacious bedrooms look out onto a terrace. The most alluring aspect of these residences is the outdoor areas it provides us Southern Californians. It seems we still appreciate Mother Nature and the beauty of our City of Angels. Check out the view below.

Overall, the split floor plans work well for these two bedroom units. Who wants to be bumping walls with your room mate? By far, the Penthouses in this complex are AMAZING! With over 1,473 sf of interior space, they include over 1,000sf of outdoor terrace areas. This is where they get me. I am such a sucker for functional outdoor space.

If you have financing in the million dollar range, check out the floor plan for Penthouse 3:

HOAs run $360/mo to $435/mo and include gas, water, trash and common area. Each Residence includes two tandem parking spaces.

As always, feel free to reach me for showings or more information.

EVO Releases New Block for Sale

SPECIAL FLASH PRICES FOR EVO!!!



This just in... It seems that sales at the Uber Green building are on fire and they are now releasing additional units to the public with great incentives, including one year of HOA paid. Along with the CA Tax Credit, there could be a few deals here.


Check out the Units / Price List Below



As always, feel free to contact me if you would like more information or a showing.

SPF:architects' WOODBRIDGE 12 Coming Onto Market

As a firm, Studio Pali Fekete Architects (SPF:a) are one of the most innovative and impressive firms in Los Angeles. Based out of Culver City, CA, this dynamic duo of Zoltan Pali, FAIA and Judit Meda Fekete bring their talent, creativity and responsibility to a new project soon to hit market, WOODBRIDGE 12.





This 12 unit 4-story building has high-end design written all over it AND in it. With open floor plans and top-quality elements, this clean modern design will intrigue many. There are 5 floor plans to choose from ranging from 1,300 - 1,800 square feet. The thing about it is there are only 2 Bedroom, 2 Bath units to select from. Granted, the variety of floor plans will make everyone feel unique. The first floor units boast large outside garden areas. All units above ground level have balconies sizable enough to socialize.





Each unit has a gourmet kitchen, designer baths and floor to ceiling glass. You can imagine the light in these places.







When it comes to sustainability, WOODBRIDGE 12 leads the pack. Resources such as the cement composite panels are mainly made up of the SWISSPEARL® system panels. Neither the raw materials nor the production process nor the finished products contain any dangerous substances. This has to be one of the most efficient systems on market. We are seeing it in most new modern architecture.



The building has subterranean parking, but I can't tell you at this point as to how many. Nor can I tell you what the HOAs will be.

No doubt, this is a beautifully designed conception. But let us consider the reality here. As pricing goes, an agent responded to me earlier this week and let me know they will be ready for showings soon. They will hit market listed somewhere from the Mid $500,000 range up to the $800,000 mark. It translates to anywhere from 370/sf to 450/sf. The location is pretty decent as it is close to the Studio City Golf Course and tennis Club.

The units should be ready for showings in about 3 weeks. Please let me know if you would like to see them.

If you would like to see any or all of the floor plans, let me know. Click here for contact.

Will Reductions at Metropol Hollywood Create Sales?

The latest in the barrage of new developments that have seen major price hits and have gone back into the hands of the bank, enter Metropol Hollywood, located at 6001 Carlton Way.



Back in the Fall of 2009, Deasey Penner and Associates released units to the public. Their marketing and sales efforts failed. After months on the market, Deasey Penner could not close enough units to acquire occupancy and could not influence a change in pricing. The architecture firm, RSA, Inc. doesn't even mention this project on their web site. I wonder why? Now we have the hot new REO commercial broker, Revive Real Estate Group handling the sales for the bank-owned property.




With the building's clean and handsome facade, I expected a whole lot more out of this building. It's location is still a concern as the Hollywood location is still improving and a bit dodgy still. If you are interested in having views of the Hollywood sign, the 'B' plan units will work, but with a price. Having the building situated right behind Toyota of Hollywood, I cannot imagine anyone wanting to live in the back/north side 'B' plan units abutting the car dealership's maintenance area. I can hear the hydraulics removing lug-nuts as I type. Something about the building doesn't allow me to get too enthusiastic though? I really can't put my finger on it. Maybe I was expecting more from the overall exterior, but once you go beyond the front of the building, it becomes a stucco barrage.

The only units that make sense to me are ones located on the 3rd and Penthouse floors. The neighboring buildings on either side of this site are run down. In order to avoid the unsightliness, it is important to get above their roof lines. Carlton Way is lined with towering palm trees, an example of Old Hollywood. There are four craftsman single-family homes across the street from the site that have just been rehabilitated and look great. They are a welcomed improvement to the area. If only the other owners on the street decided to do something about their curb appeal.



There are five different floor plans being offered ranging from 920sf to 1,240sf with most units 1,200sf. Out of the 41-unit project, units are mainly 2 bedroom 2 bathroom with six 1 bedroom + tech center units. Each unit has hardwood floors in the main living areas and carpeting in the bedrooms, along with tile in the baths. They also have the standard stainless steel appliances along with treated granite kitchen counter tops that provide a unique contemporary finish. Each unit comes with modest balconies. Only the 'A' plan provides an 11x7 balcony. The 'B' plan offers the second largest balconies. The others are much like Juliet balconies, not for socializing.





What impressed my the most about the units were the bathrooms. Marble counter tops, illuminated mirror, deep soaking tubs and a overhead rain head in the shower. I always like to see the new trend of the wet area in bathrooms where we see the shower and bath tub incorporated into one 'wet area'. Makes a lot of sense to me.




The bedrooms are sizable and spacious. Loads of closet space abound! The only downside for me is they have carpet. I would have much preferred the design to include the hardwood throughout, but hey, I didn't design the place...




With the new sales team from Revive, we see that they have brought down pricing around 35%. It will still be determined as to whether or not they have adjusted the prices enough. With other new buildings in the area that didn't sell, we see 'For Lease' signs out front instead of 'For Sale' signs. It may be an indication the bank needs to be a little more flexible. At the moment, the MLS is only showing a handful of units on market. Revive is taking reservations starting this week in hopes of signing contracts in early August. If you are at all interested in Metropol, feel free to contact me at 213-305-8537 for floor plans. There are five floor plans to chose from. More than happy to send them to you via email.

HOAs are in the $350 range. Parking garage below building. No pool. Check out the new price list for the re-release of these units:



Considering we are seeing a flood of bank-owned projects coming to market, it will be interesting to see how this project fares. Stay tuned...