Buyer's Showing appointment in Los Angeles

I scheduled an appointment to show a few homes in the Los Angeles area for some clients. Today's inventory included four properties. All bank owned. ;)

I don't show any more shortsales at this current time because everybody is going crazy trying to buy a house for the federal tax credit. And shortsales drive me crazy! Its a good deal if you can close the sale on time.

Some agents in the Century 21 Results office in Lakewood where I work are currently in escrow for shortsales and is taking a long time, one sale has been in escrow for 11 months.

First property viewed was just a few feet south of the 10 freeway in Los Angeles. Address 3662 City Terrace Drive Los Angeles, CA 90063 priced @ $210k.

This property was cute! Had a townhouse style to it. Very close to the freeway. You can hear the ongoing traffic. Small lot but cute two story house. I thought it looked great for an REO. Out of the list it was the best value. The reminded me of San Fransisco just missing the hill. The only thing about this house is that it needs new carpet and maybe new paint. That's it!



Second property viewed was located at 5000 8th Ave. Los Angeles, CA 90043. Priced @ $244,100. Sqft. 2,051 lot size 6,480

This property is a total fixer!!! The only reason why it is priced significantly higher is because of the square footage of the lot. I wished the agent addressed it in the agent remarks on the mls.
There is great potential but too much work is needed. If I was an investor I would possibly invest in it. The area was average. I was wondering why this one had no offers. Had a fireplace that turned to be a large hole in the house which was patched up with a ton of newspapers. Ideal for investors with cash, someone can fix the sucker up and sell it. I also recommend someone to buy this with a hard money loan, cash or conventional. And fix it up and sell it. It has flipping potential.

3rd property shown in my favorite! 9625 La Salle Ave. Los Angeles, CA 90047 priced @ $232,500.
9625 La Salle Ave. is a house full of charm!!! My clients made so many jokes about this property. I've never laughed so hard showing property in my life. The house is located in a beautiful tree-lined street. Homes in the neighborhood featured very nice well kept manicured lawns and drove above average cars. The house itself just had so much charm. Home featured mirrorred walls, attached and detached casitas added on the original house, "mystery doors" that were nailed shut. It didn't make sense but all in all it was the cheapest house on the best block. I sincerely thought my buyers would beg me to write up an offer for this one because of the location, but felt creeped out by every step further into the property. The more you walk in the more work it required. The guest house in the back was not finished. The attached separate living quarters looked like it needed some work too. The property of the original house overall was good. But my buyers didn't want to take a risk on it.

Lastly, 7222 Elsie St. Los Angeles, CA 90001. Priced @ $169,900.

Homes had some serious vandalism done by some of the local gangsters from the area. Definitely done by kids. The house itself has been vacant for more than a year now. I guess it was a shortsale and then never sold and then it turned into an REO. The banks looked like they put a little bit of work to it. New paint and carpet. The tagers tagged all over the back part of the house. I couldn't even get into the property. The agent gave me the wrong code. We slid in through the gate and went in anyway. The house door was missing door knobs. I guess the neighborhood kids have been hanging out there for some time now.

After the showings, my buyers had to go somewhere. The properties were all bank owned and the best value was City Terrace Dr. I hope I can get my clients into a new home soon!