Home for Sale at 11481 Martha Ann Drive, Los Alamitos, CA 90720

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11481 Martha Ann Drive
Los Alamitos, CA 90720

Mario Mitchell with Keller Williams Coastal Prop., original listing - (562) 843-1017

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Property Details

List Price:	$1,388,888
Beds:	3
Baths:	Full: 2, ¾: 1
Status:	Active
SqFt:	2002 Square Feet
Agency:	Keller Williams Coastal Prop.
Agency Phone:	(562) 843-1017

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Description/Comments

Lot Size:	0 acre(s)
Property Type:	Residential-Single Family Residence
Year Built:	1959
Notes:	Now is your chance to establish roots and own a piece of Rossmoor at an unbeatable value! Award-winning Los Alamitos School District, where the beach breeze meets the tree lined streets within the signature red brick walls of the community. This home is being offered at the lowest price per square footage in the area for the year and is ready to move-in. Enjoy the convenience of remodeled bathrooms, kitchen, lights, electrical, plumbing, central air & heat and upgraded roof. With over 2000 square feet of living space, originally a four-bedroom and that has been elegantly transformed into a spacious three-bedroom with a master bedroom with a beautiful-large en-suite bathroom and a stunning walk-in closet. All the bedrooms have high-ceilings and plenty of space. The open, remodeled kitchen with granite counters, stainless steel appliance is light and bright, overlooking the greenery in the large backyard and seamlessly flowing into the spacious living room and the option of two dining areas with French doors that gives a piece of mind seeing all your family and guests from the kitchen. Additionally, the property features a large L-shaped driveway, spacious enough for boat or RV parking, along with a two-car garage. This home truly offers everything a family needs to thrive in Rossmoor! Schedule a private showing today.
MlsNumber:	--
ListingId:	PW24233008

Listing Provided By:	Keller Williams Coastal Prop., original listing
Phone:	(562) 843-1017
Office Phone:	(562) 843-1017
Agent Name:	Mario Mitchell
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.

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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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