Home for Sale at 2536 Medlow Avenue, Los Angeles, CA 90041

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2536 Medlow Avenue
Los Angeles, CA 90041

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Property Details

List Price:	$1,699,999
Beds:	3
Baths:	4
Status:	Active
SqFt:	3908
Agency:	The Real Estate Professionals

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Description/Comments

Lot Size:	5,070 sqft
Property Type:	Residential
Year Built:	1988
Notes:	Unveiling a rare opportunity nestled in the hills of Eagle Rock! This expansive three-level fixer-upper spans 3908 sqft on a 5052 sqft lot. First time on the market since the 80's unlock the potential of this home featuring 3 bedrooms, 4 full bathrooms, and a balcony offering panoramic views. The living room, adorned with a fireplace, adds warmth and character to this unique property. Private Jacuzzi in one of the rooms on the lower level. This home is a canvas waiting for your personal touch. With a bit of vision and renovation work you can transform this property into your dream retreat, taking advantage of its unique hillside location and ample space for personalization. Seize the opportunity to create a home that captures both the charm of Eagle Rock and the allure of elevated living.
MlsNumber:	SB24023080

Listing Provided By:	The Real Estate Professionals, original listing
Name:	The Real Estate Professionals
Phone:	(310) 809-2675
Office Name:	The Real Estate Professionals
Office Phone:	(424) 271-7301
Agent Name:	Normelita Villapando
Disclaimer:	Copyright Â© 2024 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest.

The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered.

VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale.

This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments.

Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.

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