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May 25th, 2011

Sherman Oaks, Los Angeles Flip Deal of the Week 5/25/11

By Darryl Izakowitz Be the first to comment!

Posted in: Flip Deal, Foreclosure, Los Angeles

Sherman Oaks, Los Angeles Flip Deal of the Week.

The best home to flip in Sherman Oaks right now! This property was listed at the end of March at $699,900. It subsequently was sold, but then fell out of escrow. It’s now at $629,900, and it’s even a better deal than before.

This REO/bank owned property needs to be rehabbed. This home offers gorgeous views of the San Fernando Valley, and includes a detached guest house. Please contact me for all the details on this excellent flip project.

List of features:

2 Bedrooms
3 Baths
1,967 sq.ft.
9,360 sq.ft. lot size
2-car detached garage
Built in 1952
Wonderful valley views
Long driveway with extra parking
Private rear setting

Please contact me for more information, photos, or maps on this flip deal.

Agent notes: Endless potential house has a great flow to it and it enjoys a fabulous view of the City. Offered in as-is where-is condition. The property requires quite a bit of repairs and replacements. There is a guest house which is detached evidence of some mold and may be unpermitted. Information is not guaranteed buyer to investigate, verify and rely on their own findings property, has a notice of abatement proceeding and the new owners have to comply with the city code enforcement.

When buying and selling a flip on behalf of a client, it is crucial to know the neighborhoods, know the comps, and be conservative in all figures. Sherman Oaks is a diverse community that offers many homes in the foothills of the Santa Monica Mountains with privacy and valley and/or canyon views. The neighborhoods can be mixed with estates valued at $2MM-$4MM to smaller homes valued around $600k-$850k.

This home is located in a great part of the hills with relative proximity to Ventura Blvd. There are several homes valued at $1.2MM to $2.3MM nearby. I met with Chris Teutsch of Avante Interiors for over an hour at this property. Knowing the market and the neighborhood, we decided that an investor looking to flip this property and to make the most profit needs to do a complete remodel. Some of Chris’ ideas are to restore this contemporary home with all new hardwood flooring, cabinets, fixtures, and appliances. Part of this property’s appeal is the detached guest house in back. The guest house needs to be completely rebuilt to code and permitted for an additional 400-500 livable square feet. An investor can rehab this property into its full potential without overbuilding for the area or the market.

Nice, turn-key homes in this neighborhood are selling for $450-$550 per square foot and up. This home will be completely remodeled utilizing its existing contemporary style. A conservative estimate on the final retail value of this home is $1,200,000, but the secret is in negotiating the purchase price and construction costs. Chris has estimated his construction rehab to be $285k and to take about 6 months with doing everything he suggests to the property. To keep figures in perspective, if you can purchase this property for $650k and spend $300k on a remodel, then you are into the property for $950k. Selling it on the market for $1.2MM will make an investor a ton of profit in less than one year.

Chris Teutsch of Avante Interiors does exceptional work, and he is my contractor of choice in Los Angeles. Chris has completed several remodeled homes in Sherman Oaks in the past few years. You can discover more about Chris Teutsch and Avante Interiors on our Affiliate page.

Chris will create a complete detailed estimate for this property. I think you will be amazed at how much profit is available as a flip potential and equally amazed at what a beautiful home this will be for an owner-occupant.

If you are searching for a great flip in Los Angeles, I will find it. Please contact me today about this home or any of your real estate needs.

May 23rd, 2011

Cheviot Hills, Los Angeles Housing Market Recap 5/23/11

By Darryl Izakowitz Be the first to comment!

Posted in: Cheviot Hills, Los Angeles

Cheviot Hills, Los Angeles Housing Market Recap

Below is the current home activity for sale in Cheviot Hills for single family residences in the past 30 days.

There are currently 28 active Cheviot Hills homes for sale in a huge price range from $330,000-$3,995,000 in which 2 of these are Short Sales.

There are no homes listed as Short Sales in backup offers. In the case of a backup offer, this usually means that the seller is allowing backup offers to be submitted on the property, while the lien holder(s) is pending approval. There are also 5 homes in backup offer status that are standard sales.

Additionally, 5 homes are in pending status and are scheduled to close in escrow. These range from $899,000-$1,995,000 at their list prices.

In the past 30 days, there were 5 homes in Cheviot Hills that sold. These homes ranged from $795,000-$2,140,000 and had an average sale price per sq.ft. of $432. The homes averaged 130 days on the market and sold at 94% of their sale price over their list price.

I will continue to keep you connected with the real estate market in this community. Stay tuned or subscribe for future blog posts.

Side note: Cheviot Hills is a fusion of several residential tracts that were developed beginning in the early-1920s. First built were Country Club Highlands (1923), Cheviot Hills (1924), and Monte-Mar Vista (1926). These three tracts retained their separate identities until at least the late 1930s. In 1939, a fourth tract was added to the south: Cheviot Knolls. The California Country Club Estates tract was built beginning in about 1952, followed by the final nearly two-dozen homes on the east in around 1968.

Today, Cheviot Hills is bordered by Rancho Park on the west and northwest, Palms on the south, Beverlywood on the east, and Century City and Beverly Hills on the north. Principal thoroughfares include Pico and National Boulevards and Manning and Motor Avenues.

Would you consider living in Cheviot Hills?

If I can be of any assistance to you in buying or selling your home, please contact me.

May 19th, 2011

Sherman Oaks Deal of the Week 5/19/11

By Darryl Izakowitz Be the first to comment!

Posted in: Deal of the Week, Foreclosure, Los Angeles

Wonderful Sherman Oaks View Home! Deal of the Week.

The Best Deal in Sherman Oaks…Right Now!

Just listed at $799,900 – $369 per sq.ft. A great value for this REO/bank owned Sherman Oaks hillside home! This home is recently remodeled and offers views of the San Fernando Valley. This home is move-in ready and priced now to sell.

REO/bank owned. As far as we’re concerned, Short Sales are not deals despite their low list prices (wish prices).

List of features:

3 Bedrooms
3.5 Baths
2,165 sq.ft.
6,520 sq.ft. lot size
Built in 1957
2-car garage
City lights views
Close to Ventura Blvd.

Please contact me for more information, photos, or maps on this deal.

Agent notes: VIEW PROPERTY with OVER 2,000 sq.ft. for UNDER $800K!!! Chic Mediterranean recently remodeled throughout!!! City lights & treetop views from most living areas and Master Suite! Tasteful décor in all earth tones includes natural wood floors and cabinets, stone tile flooring, marble & tile baths, granite kitchen with stainless steel appliances, custom lighting, decorator colors! Romantic master suite features walk in closet and private bath with a spa tub and double vanity! Single pane wood doors, step ceiling in kitchen, high ceilings in some areas, impressive LR fireplace, oversized rooms and adjacent to 2 downstairs bedrooms is a huge family/game room w/brick faced fireplace and access to rear yard grass area.

Please contact us today for more information, photos, and maps on this amazing home. If you are searching for a great deal in Sherman Oaks or the surrounding area, we can also help you find it.

May 17th, 2011

Sherman Oaks, Los Angeles Flip Deal of the Week 5/17/11

By Darryl Izakowitz Be the first to comment!

Posted in: Flip Deal, Foreclosure, Los Angeles

Sherman Oaks, Los Angeles Flip Deal of the Week.

The best home to flip in Sherman Oaks right now!

Just listed at $747,900 – $345 per sq.ft. This REO/bank owned property needs to be remodeled, but has several nice features like a great pool and large lot. Please contact me for all the details on this excellent flip project.

List of features:

3 Bedrooms
2 Baths
2,171 sq.ft.
10,190 sq.ft. lot size
2-car attached garage
Circular driveway
Pool
Built in 1956
Private rear setting

Please contact me for more information, photos, or maps on this flip deal.

Agent notes: BANK OWNED REO PRICED FOR IMMEDIATE SALE! Circular Drive and Up on a Knoll. 3 Bedrooms and 2 Baths with 2,171 Square Feet on a 10,190 Lot. Large Kitchen. Nice Yard with Gated Pool and Fireplace.

This home is located in a great part of the hills with relative proximity to Ventura Blvd. There are several homes valued at $1.2MM to $2MM nearby. I met with Chris Teutsch of Avante Interiors for over an hour at this property. Knowing the market and the neighborhood, we decided that an investor looking to flip this property and to make the most profit needs to do a cosmetic remodel. Some of Chris’ ideas are to restore this traditional home with all new hardwood flooring, cabinets, fixtures, and appliances. Part of this property’s appeal is the private backyard and pool. An investor can rehab this property into its full potential without overbuilding for the area or the market.

Nice, turn-key homes in this neighborhood are selling for $450-$500 per square foot. This home will be completely remodeled utilizing its existing traditional ranch style. A conservative estimate on the final retail value of this home is $1,100,000, but the secret is in negotiating the purchase price and construction costs. Chris has estimated his construction rehab to be $100k and to take about 4 months with doing everything he suggests to the property. To keep figures in perspective, if you can purchase this property for $725k and spend $100k on a remodel, then you are into the property for $825k. Selling it on the market for $1.1MM will make an investor a lot of profit in less than one year.

If you are searching for a great flip in Los Angeles, I will find it. Please contact me today about this home or any of your real estate needs.

May 16th, 2011

Beverly Hills Housing Market Recap 5/16/11

By Darryl Izakowitz Be the first to comment!

Posted in: Beverly Hills, Los Angeles

Beverly Hills Housing Market Recap

Below is the current home activity for sale in Beverly Hills for single family residences in the past 30 days.

There are currently 249 active Beverly Hills homes for sale in a huge price range from $895,000-$48,995,000 in which only 8 of these are Short Sales.

There are no homes listed as Short Sales in backup offers. In the case of a backup offer, this usually means that the seller is allowing backup offers to be submitted on the property, while the lien holder(s) is pending approval. There are also 24 homes in backup offer status that are standard sales.

Additionally, 36 homes are in pending status and are scheduled to close in escrow. These range from $799,000-$4,200,000 at their list prices.

In the past 30 days, there were 27 homes in Beverly Hills that sold. These homes ranged from $535,000-$22,950,000 and had an average sale price per sq.ft. of $696. The homes averaged 99 days on the market and sold at 94% of their sale price over their list price.

I will continue to keep you connected with the real estate market in this community. Stay tuned or subscribe for future blog posts.

Side note: Beverly Hills is a full-service community (police, fire, water treatment, refuse collection, building inspections, and others) which are provided directly by the City. Beverly Hills has its own school district with a reputation for some of the best schools in the nation.

Beverly Hills is the most expensive housing market in the United States with a median home price of over $2.2 million. These homes range from the extravagant and luxurious in size, to the more elegant and modern homes, and then to the many small duplex rental units and detached homes with less than 2,000 sq ft.

Would you consider living in Beverly Hills?

If I can be of any assistance to you in buying or selling your home, please contact me.

May 11th, 2011

Calabasas Housing Market Recap 5/11/11

By Darryl Izakowitz Be the first to comment!

Posted in: Los Angeles

Calabasas Housing Market Recap

Below is the current home activity for sale in Calabasas for single family residences in the past 30 days.

There are currently 142 active Calabasas homes for sale in a huge price range from $382,900-$7,999,000 in which 12 of these are Short Sales.

There are also 9 homes listed as Short Sales, but they are in backup offers ranging from $525,000-$1,499,000. In the case of a backup offer, this usually means that the seller is allowing backup offers to be submitted on the property, while the lien holder(s) is pending approval. There are also 16 homes in backup offer status that are standard sales.

Additionally, there are 31 homes in pending status and scheduled to close in escrow. These range from $450,000-$3,200,000 at their list prices.

In the past 30 days, there were 24 homes in Calabasas that sold. These homes ranged from $504,670-$2,849,000 and had an average sale price of $310 per square foot. The homes averaged 95 days on the market and 96% of their sale price over their list price.

I will continue to keep you connected with the real estate market in this community. Stay tuned or subscribe for future blog posts.

Side note: Calabasas is located in the hills in the southwestern San Fernando Valley and the Santa Monica Mountains between Woodland Hills, Agoura Hills, West Hills, and Malibu. The city is known for its natural beauty, low density, and renowned school district. The historic El Camino Real runs east-west through Calabasas as U.S. Route 101.

Calabasas residents are zoned to schools in the Las Virgenes Unified School District, one of the highest ranked districts in the state. The district also serves the nearby cities of Agoura Hills, Bell Canyon, and Hidden Hills.

Would you consider living in Calabasas?

If I can be of any assistance to you in buying or selling your home, please contact me.

May 10th, 2011

Studio City, Los Angeles Flip Deal of the Week 5/10/11

By Darryl Izakowitz Be the first to comment!

Posted in: Flip Deal, Foreclosure, Los Angeles

Studio City, Los Angeles Flip Deal of the Week.

The best home to flip in Studio City right now!

Just listed at $1,185,000 – $388 per sq.ft. This REO/bank owned property needs a little cosmetic work to be placed back on the market. This home is located in a great South of the Boulevard neighborhood. Please contact me for all the details on this easy flip project.

List of features:

5 Bedrooms
4.5 Baths
3,052 sq.ft.
9,000 sq.ft. lot size
2-car attached garage
Two bonus rooms
Built in 1952, but recently remodeled
Mountain and city lights views from upstairs
Central vacuum
Tankless water heater

Please contact me for more information, photos, or maps on this flip deal.

Agent notes: Modernized Mediterranean south of Ventura Boulevard. Gourmet kitchen, wood flooring, custom concrete countertops. Every bedroom has its own bathroom plus a half bath for guests. Two bonus rooms and bathroom downstairs. Fireplaces in living room and master bedroom. Upstairs laundry room. 2 car attached garage. Many fabulous features! Priced for condition.

When buying and selling a flip on behalf of a client, it is crucial to know the neighborhoods, know the comps, and be conservative in all figures. Studio City is a diverse community that offers many homes in the foothills of the Santa Monica Mountains with privacy and city and/or canyon views. The neighborhoods can be mixed with estates valued at $3MM-$7MM to smaller homes valued around $600k-$850k.

This home is located in an excellent neighborhood of Studio City with relative proximity to Ventura Blvd. There are several homes valued at $1MM to $1.5MM nearby. I met with Chris Teutsch of Avante Interiors at this property. Knowing the market and the neighborhood, we decided that an investor looking to flip this property and to make a quick profit should conduct a minor cosmetic rehab. Replacing missing appliances, built in flat screen televisions, audio equipment, and some paint a trim work will provide a beautiful turn-key home for an owner-occupant. An investor needs to be careful and not overbuild this property for the market. The home is literally the easiest flip for the money this year.

Nice, turn-key homes in this neighborhood are selling for $450-$475 per square foot and up. This home will be completely remodeled utilizing its existing contemporary style. A conservative estimate on the final retail value of this home is between $1.3MM – $1.5MM, but the secret is in negotiating the purchase price and construction costs. Chris has estimated his cosmetic remodel to be $100k and to take about 1 month with doing everything he suggests to the property. To keep figures in perspective, if you can purchase this property for $1MM and spend $100k on a remodel, then you are into the property for $1.1MM. Selling it on the market for $1.3MM to $1.5MM will make an investor a ton of profit in a few months.

Chris Teutsch of Avante Interiors does exceptional work, and he is my contractor of choice in Los Angeles. Chris has completed several remodeled homes in Studio City in the past few years, and we are currently working on a remodeling project for one of our clients on Passmore Drive in the Cahuenga Pass. You can discover more about Chris Teutsch and Avante Interiors on our Affiliate page.

If you are searching for a great flip in Los Angeles, I will find it. Please contact me today about this home or any of your real estate needs.

May 6th, 2011

Passmore Drive, Hollywood Hills Flip Project, Part I

By Darryl Izakowitz Be the first to comment!

Posted in: Foreclosure, Hollywood Hills, Los Angeles

Passmore Dr, Hollywood Hills Flip Project, Part I

This is a brand new flip project for one of our clients in the Hollywood Hills/Cahuenga Pass. We found this banked owned property gutted and incomplete. In a couple of months this beautiful contemporary home will be ready for resale.

Please let me know if you or anyone you know might be interested in purchasing this contemporary remodel.

Some highlights of this home when completed:

Passmore Drive, Hollywood Hills
1,893 sq.ft.
7,910 sq.ft. lot size
3 Bedrooms
3 Baths
Home office/guest room
Storage garage
Carport
Japanese soaking tub outside
Wrap-around decking
Hollywood sign peek-a-boo view
Stunning contemporary styling

This incredible, contemporary home is being remodeled by Chris Teutsch of Avante Interiors. It has been redesigned to emphasize a larger master suite which will offer scenic canyon views. A current half bath will be expanded into a full bath. The contemporary chef’s kitchen will flow into a large living space using polished concrete flooring. Outside, a large wrap-around deck out front will lead to a private escape off the master suite where a Japanese soaking tub will offer peek-a-boo views of the Hollywood sign. Under the front deck will be a large storage garage, and a carport will provide coverage for vehicles.

Chris has brought in one of his architects and designers who have been recently involved in numerous remodeled homes in the Hollywood Hills. This project will transform into a nice Hollywood Hills contemporary home. The targeted completion date is July 2011. Current home values in this neighborhood are at $550-$600 per sq.ft. and this would value this completed remodel/addition at approximately $1,200,000.

View all photos of this project.

If you would like more information about this property or have an interest in purchasing it before it hits the market, please contact me.

May 4th, 2011

Beverly Hills Post Office Flip Deal of the Week 5/3/11

By Darryl Izakowitz 1 person has left a comment - what's yours?

Posted in: Beverly Hills, Flip Deal, Los Angeles

Beverly Hills Post Office Flip Deal of the Week.

The best home to flip in Beverly Hills right now!

Just reduced to $799,000 – $419 per sq.ft. This standard sale property will greatly benefit from a remodel. This is a good cosmetic fixer to flip in popular Benedict Canyon. Please contact me for all the details on this excellent flip project.

List of features:

3 Bedrooms
2.5 Baths
1,908 sq.ft.
17,163 sq.ft. lot size
2-car attached garage
Built in 1938
Pool and spa
California basement
Two adjoined legal lots

Please contact me for more information, photos, or maps on this flip deal.

Agent notes: REDUCED!! MOVE-IN CONDITION!! TWO ADJOINING LEGAL LOTS: APN 4356-001-005, at 8,320 s.f., has a Trad. 2 Story Home on it which was partially remodeled in the mid 1980′s. The interior s.f. is 1,908. There are 2 BRs plus a large convertible 3rd BR or Fam. Rm, all located upstairs. The Master BdRm has a large walk-in Closet. There is a Bright Sun-Rm that could also be used as an office. There are 2 & ~~ Baths, Air/Cond, a Formal Entry, a Liv. Rm w/ Fireplace, a Formal Dining Rm & a Kitchen w/ Updated Appliances. The 2nd Floor has Carpeted & Hard Wd Flooring. The Laundry Rm is located in the garage. There is also a “California Basement”. Finally, there is a 2 car attached garage. The SECOND LOT, APN 4356-001-006 at 8,843 s.f., is the adjoining lot to the West that constitutes the Back-Yard. POOL & SPA ARE NEWLY PLASTERED with a large Patio Sitting Area, all surrounded in Brick. There is a Hobby Shack at the west end of the back-yd. The TOTAL land sq.ft is 17,163.

When buying and selling a flip on behalf of a client, it is crucial to know the neighborhoods, know the comps, and be conservative in all figures. Beverly Hills Post Office is an affluent community that offers many homes in the foothills of the Santa Monica Mountains with privacy and city and/or canyon views. The neighborhoods can be mixed with estates valued at $3MM-$15MM to smaller homes valued around $700k-$950k.

This home is located in Benedict Canyon in Beverly Hills with relative proximity to Sunset Blvd. There are several homes valued at $2MM to $3MM nearby. I met with Chris Teutsch of Avante Interiors for over an hour at this property. Knowing the market and the neighborhood, we decided that an investor looking to flip this property and to make the most profit needs to do a cosmetic remodel. Some of Chris’ ideas are update the interior of the home, especially the kitchen and baths. Also, converting the California basement into a wine cellar or laundry room will add extra appeal. An investor needs to be careful and not overbuild this property for the market.

Nice, turn-key homes in this neighborhood are selling for $550-$650 per square foot and up. This home will be completely remodeled utilizing its existing traditional style. A conservative estimate on the final retail value of this home is $1,500,000, but the secret is in negotiating the purchase price and construction costs. Chris has estimated his construction rehab to be $200k and to take about 6 months with doing everything he suggests to the property. To keep figures in perspective, if you can purchase this property for $750k and spend $200k on a remodel, then you are into the property for $950k. Selling it on the market for $1.5MM will make an investor a ton of profit in less than one year.

Chris Teutsch of Avante Interiors does exceptional work, and he is my contractor of choice in Los Angeles. Chris has completed several remodeled homes in Beverly Hills in the past few years, and we are currently working on a remodeling project for one of our clients on Summitridge Drive. You can discover more about Chris Teutsch and Avante Interiors on our Affiliate page.

If you are searching for a great flip in Beverly Hills, I will find it. Please contact me today about this home or any of your real estate needs.

May 3rd, 2011

West Hollywood Housing Market Recap 5/2/11

By Darryl Izakowitz 1 person has left a comment - what's yours?

Posted in: Los Angeles, West Hollywood

West Hollywood Housing Market Recap

Below is the current home activity for sale in the West Hollywood for single family residences in the past 30 days.

There are currently 35 active West Hollywood homes for sale in a huge price range from $547,485-$2,995,000 in which 4 of these are Short Sales.

There are also 1 home listed as a Short Sale, but it’s in backup offers ranging at $699,000. In the case of a backup offer, this usually means that the seller is allowing backup offers to be submitted on the property, while the lien holder(s) is pending approval. There are also 4 homes in backup offer status that are standard sales.

Additionally, there are 14 homes in pending status and scheduled to close in escrow. These range from $500,000-$2,495,000 at their list prices.

In the past 30 days, there were 7 homes in West Hollywood that sold. These homes ranged from $755,000-$1,375,000 and had an average sale price of $669 per square foot. The homes averaged 122 days on the market and 98% of their sale price over their list price.

I will continue to keep you connected with the real estate market in this community. Stay tuned or subscribe for future blog posts.

Side note: West Hollywood is bordered on the north by the Hollywood Hills neighborhood of Los Angeles, on the east by the Hollywood District of Los Angeles, on the west by the city of Beverly Hills, and on the south by the Fairfax District of Los Angeles.

West Hollywood benefits from a very dense, compact urban form with small lots, a mix of land uses, and a walkable street grid. Commercial corridors include the nightlife and dining focused on the Sunset Strip, along Santa Monica Boulevard, and the Avenues of Art & Design along Robertson, Melrose and Beverly near the Pacific Design Center.

Major residential neighborhoods in West Hollywood include the Norma Triangle, West Hollywood North, West Hollywood West, West Hollywood East and West Hollywood Heights.

Would you consider living in West Hollywood?

If I can be of any assistance to you in buying or selling your home, please contact me.