Comments on: REOs in Sherman Oaks http://blog.redfin.com/losangeles/2008/07/reos_in_sherman_oaks.html Redfin Los Angeles Sweet Digs Thu, 09 Feb 2012 13:33:45 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: l.a.guy http://blog.redfin.com/losangeles/2008/07/reos_in_sherman_oaks.html/comment-page-1#comment-14862 l.a.guy Sun, 27 Jul 2008 07:16:38 +0000 http://blog.redfin.com/losangeles/2008/07/reos_in_sherman_oaks.html#comment-14862 Unrelated to this post but I was perusing my Redfin "Favorites" and noticed that a Toluca Lake house you posted about (http://losangeles.redfin.com/blog/2008/04/fishing_for_a_bottom_in_toluca_lake.html), and I had seen just before it hit the market, sold in June for $1,750,000. (http://www.redfin.com/CA/Toluca-Lake/4440-Sancola-Ave-91602/home/5308191) Your post quoted brokers who speculated the house would sale for $1.5 - 1.6M, so I thought you'd appreciate a follow-up. It has to be said, $1.75 is less than the $1.895 they were asking (I thing the original asking price may have been $1.95, but I'm not sure), but still it held up better price wise than some brokers expected. Personally the $1.75 seems about right, in fact in my post to your original story (as "Some Guy") I suggested it would be a fair price. Unrelated to this post but I was perusing my Redfin “Favorites” and noticed that a Toluca Lake house you posted about (http://losangeles.redfin.com/blog/2008/04/fishing_for_a_bottom_in_toluca_lake.html), and I had seen just before it hit the market, sold in June for $1,750,000. (http://www.redfin.com/CA/Toluca-Lake/4440-Sancola-Ave-91602/home/5308191)

Your post quoted brokers who speculated the house would sale for $1.5 – 1.6M, so I thought you’d appreciate a follow-up. It has to be said, $1.75 is less than the $1.895 they were asking (I thing the original asking price may have been $1.95, but I’m not sure), but still it held up better price wise than some brokers expected. Personally the $1.75 seems about right, in fact in my post to your original story (as “Some Guy”) I suggested it would be a fair price.

]]> By: Richard Johnston, Sherman Oaks Real Estate http://blog.redfin.com/losangeles/2008/07/reos_in_sherman_oaks.html/comment-page-1#comment-14654 Richard Johnston, Sherman Oaks Real Estate Wed, 23 Jul 2008 03:48:23 +0000 http://blog.redfin.com/losangeles/2008/07/reos_in_sherman_oaks.html#comment-14654 I've been recently been writing numerous offers on bank owned homes in Sherman Oaks approximately south of Magnolia in an area I like to call McMansion territory. You can purchase a 2 bedroom 2 bath home in the high 400's - I'm not kidding. A 3 bedroom 2 bath starter home sells in the mid-$500's. If you would have purchased 2 years ago, these same homes would have cost several hundred thousand more. But it's important to note that these homes are selling within days - not kidding again. Investors are snapping up these homes and renting them out at a profit. Why? Because these are great areas and investors know that they will be profitable investments and a great asset for the future Richard Johnston, RE/MAX OTB Bank Owned specialist - Sherman Oaks http://www.bankowned.la I’ve been recently been writing numerous offers on bank owned homes in Sherman Oaks approximately south of Magnolia in an area I like to call McMansion territory. You can purchase a 2 bedroom 2 bath home in the high 400′s – I’m not kidding. A 3 bedroom 2 bath starter home sells in the mid-$500′s. If you would have purchased 2 years ago, these same homes would have cost several hundred thousand more.

But it’s important to note that these homes are selling within days – not kidding again. Investors are snapping up these homes and renting them out at a profit. Why? Because these are great areas and investors know that they will be profitable investments and a great asset for the future

Richard Johnston, RE/MAX OTB
Bank Owned specialist – Sherman Oaks
http://www.bankowned.la

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