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Dan Ortega's Blog

Real Estate in Silver Lake,Los Feliz, Echo Park and surounding areas

By Dan Ortega | Agent in Los Angeles, CA

Stop the Presses! Why is this home in the Ivanhoe school district of Silver Lake listed for $499,900?

Stop the Presses! Why is this home in the Ivanhoe school district of Silver Lake listed for $499,900?

2137 Redrock Ct , Los Angeles ,CA 90039
LP: $499,900

Very private house built in 1951 with fabulous views and an incredible garden with every kind of fruit tree that you can imagine. Fireplace in LR and Family room. Open kitchen with views, some hardwood flrs & tile. Stainless appliances, Lrg terrace on garden level. Great location, small cul-de-sac near restaurants and shopping on Hyperion. Ivanhoe School..

Ok, so do you have a minute? The Seller of this home had it on the market back in 07 at $1,295,000 but it never sold. The bank just bought it back last week for $842,000 so why is it now on the market for $499,900?
A couple of factors may come into play one, it could be that too much was borrowed against the home when values were up. Two, it shows as a 2br 2ba per the city records but I saw a 3 bedroom 3ba when I was there this week? There's it's current condition which for most people it would seem that it needs some cosmetic changes and maybe more. That's probably why its priced below market for the area, size and being in Ivanhoe. If all this is a concern for bank maybe they figure " Lets price it to move and let the Buyer deal with these issues". Which isn't a bad thing, because it looks like these issues could be worth taking on at this price! There are some good things about the home as well. Like the views which are fantastic, its a street to street lot and it's on a cul-da-sac. The back yard is terraced but huge and very private.
Homes in the area sell for allot more and even in its current condition this home will sell and will go over asking! Qustion is will it be an investor who'll fix it and put it back on the market or a buyer who sees the value in it. If you would like more information about this home please contact me at dansmyrealtor@gmail.com or call me at 323-839-3936. If you would like to be on my mailing list of homes in Silver Lake and surrounding areas please send me an e-mail. You can also go to www.silverlakelife.com for a list of homes currently on the market.

Thanks to Andrew Boonkrong for contacting me through Trullia, I'm excited to be working with you!

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