Home for Sale at 5110 Greencrest Road, La Canada Flintridge, CA 91011

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5110 Greencrest Road
La Canada Flintridge, CA 91011

Carey Haynes with COMPASS, original listing - (818) 790-9900

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Property Details

List Price:	$4,195,000
Beds:	4
Baths:	Full: 2, ½: 1, ¾: 2
Status:	Active
SqFt:	4039 Square Feet
Agency:	COMPASS
Agency Phone:	(818) 790-9900

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Description/Comments

Lot Size:	0 acre(s)
Property Type:	Residential-Single Family Residence
Year Built:	1950
Notes:	Situated on a picturesque tree-lined street in La Canada Flintridge, this exquisite home offers an expansive floor plan with 4 bedrooms and 5 bathrooms on an expansive 20,930 SF lot. First time on the market in 50 years, the home is surrounded by lush grounds and a welcoming exterior that features a wide driveway leading to an attached garage while a brick pathway invites you to an entry courtyard porch. Inside, a large formal living room with fireplace opens to the light filled enclosed lanai at an additional 443 SF that opens to the pool and yard. A large formal dining room is easily accessed from living room while opening to the heart of the home. The expansive kitchen functions with an eat-at bar and additional breakfast area while flowing seamlessly to the comfortable family room with picturesque views of the lush back yard. Highlighted by a vaulted ceiling, built-ins, stone fireplace and French doors to the yard, the room provides a perfect space for relaxation. The hub of the home is complete with a dedicated laundry room, door to garage and half bath. Across the home, a large hallway leads to an additional guest bath and two generously sized cheery bedrooms that share a full bathroom between. Just beyond, a formal oak paneled office/ den with built ins serves well for work and studies. An oversized primary suite rests at the back of the home and is complete with a fireplace, French doors to the yard and full bath with double sinks, a water closet and separated soaki
MlsNumber:	--
ListingId:	P1-19833

Listing Provided By:	COMPASS, original listing
Phone:	(949) 438-4340
Office Phone:	(818) 790-9900
Agent Name:	Carey Haynes
Disclaimer:	Copyright © 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.

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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Property Details

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Description/Comments

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HUD Foreclosures

Foreclosure Listings Increasing