April 28, 2008
Charles Dickens, Welcome to Van Nuys
I took my camera along yesterday when a friend who’s in the market to buy a condo asked me to look at a listing with her in Van Nuys; I thought I might be able to find a blog post in it, and snapping a few photos would get me the “art” to go with the text.
But #16, the townhouse on Saticoy Street overlooking the concrete channel known as the L.A. River, was so dispiriting, both inside and, in particular, the common areas outside, that I didn’t even have the heart to take a picture. I don’t even care to publish a link to Redfin’s listing. Still, there is a post in it.
It was a medium-sized, tri-level townhouse: a two-car garage at ground level; kitchen, living and dining areas above; and two vaulted-ceiling bedrooms each with its own bath on the third level. The kitchen had been nicely updated with granite counters and greenhouse bay windows. There was more than a little to like. Or, rather, there must have been once.
Initially pleasant to encounter, the gated complex of 17 units showed more flaws with each blink of the eye: deep gouges in the paneling of the buildings spoke of long-ignored termite invasions; decorative frames were loosened and pulling away from their windows; an unseasonal scattering of dead leaves littered the grounds. A damaged pool filter pump growled and thumped just outside the unit throughout our visit. Inside, the condo was in need of cosmetic help - paint and plaster and elbow grease.
After the tour, my friend’s buying agent revealed that it was a short sale, a fact that didn’t appear in the MLS listing. The repeated price reductions from $295,000 to $219,000 did. But the generally sad condition of the condominium and surrounding complex dampened any excitement that the price might otherwise have raised.
As we approached the gate to leave, we noticed inconspicuous For Sale signs taped to the windows of two other units, #7 and #8, and a letter from the homeowner’s association posted above the mailboxes. One of the condo owners was passing by at the same time, and we caught her attention. She nodded toward #7 saying, “She just walked away and left it to the bank.”
And the letter? “It’s a notice of special assessment to the owners for $175 each, to repair termite damage.” She went on to say she’s a long-term owner, and has seen the decline since the complex was built in 1982. “Each time a new owner came in, they did something worse, tearing out greenery and trees. The pool equipment is broken because someone went in the spa with their clothes on. The fabric got shredded in the pump.”
After I went home, I looked up unit #7 on Redfin. A recent foreclosure, it’s listed at $199,900. I called my friend to tell her that if she’s still interested in #16, then she should look at #7.
She wasn’t. She plans to start looking for rentals today.
