It's 101 degrees today in Los Angeles. Hello, Indian Summer! The real estate market remains tenuous, but triple digit weather has everyone looking for the bargain of the century: bank owned property with a pool and a view! I worked with several investors last year who wouldn't look at anything but bank-owned pool homes because they saw the intrinsic value in owning a home that had the added benefit of a pool- a 'must' for days like this in Los Angeles. As an REO broker, I've found that regardless of condition, people love, love, love a Los Angeles bargain property with a pool and will jump all over the chance to own one. if you manage get your offer accepted and snag a bank owned property with a pool and a view, I cannot stress enough the importance of having the pool thoroughly inspected. Remember: most banks these days sell property 'as is' and they're not likely to pay for costly repairs. You need to know exactly what you're getting into, especially with bank owned homes with pools in Los Angeles, since these properties have often been neglected for months and there are likely to be issues with the structure and mechanical components of the pool. Once you know what's required to get the home in good, working order you can evaluate whether your bargain Los Angeles bank owned property with a pool is really such a bargain after all. Happy house hunting and thanks to Lisa Delzompo for her great post on Murrieta bank-owned pool homes.
Via
Lisa Delzompo (PRW Lending (loans) and Sand to Sea Properties, Inc. (homes)):
Video of Murrieta Bank-Owned Pool Home
Amenities of this neighborhood and this home:
- Quiet, tree-lined streets with sidewalks,
- Large, open floor plan, over 3600 sq ft,
- Granite counters in kitchen,
- Wooden and wrought-iron staircase,
- Bedroom and office downstairs,
- Pool has jacuzzi and waterfall,
- Views unobstructed of the Santa Rosa Plateau to the west,
- On a cul-de-sac,
- Half mile to Thompson Middle School,
- 3/4 mile to Murrieta Valley High School,
Keep in mind, we do not have this listing. I would love to have it, since it is so close to where I live and work, but for now I will be waiting for it to come on the market, for it to have signs in the yard and for it to be open for offers from my clients who want a Murrieta bank-owned pool home with views on a cul-de-sac and are ready for a fixer-upper as far as the back yard goes. I have not recently seen the inside, but it was highly upgraded before going through the foreclosure process.
Here is video of a well-maintained pool in the same neighborhood (also not currently listed, but audio has some more information on the Murrieta pool homes in the Vineyard, and it's a lovely pool:
No comments:
Post a Comment