Robyn, Other/Just Looking in 90042

2 bed 2 bath 3rd floor condo on Via Marisol: wood floors, updated kitchen/bath and view of city - paid 405k in 2007-what should I exxpect to sell for?

Asked by Robyn, 90042 Tue Nov 22, 2011

Want to move in the next 18 months

Help the community by answering this question:

Answers

10
Renee Kische’s answer
Robyn:
It'd be best to connect with a local Realtor as condo units can vary with views/upgrades/etc. However, after review of what's sold in that complex in the last few years, I don't believe your unit would sell for asking. If you are looking to short sale, again consult a short sale specialist before moving forward. Reguardless on what friends or even other short sale people have experienced, the process is usually on a case-by-case basis.
If you are not certain where to start, connect with us as we have a lot of short sale experience, especially in the NorthEast LA area.

Stay connected,
Renee Kische
Keller Williams-Hollywood Hills
323.377.7976
renee@bestLAliving.com
Web Reference: http://www.bestLAliving.com
0 votes Thank Flag Link Thu Dec 1, 2011
Hi Robyn,

Even though you're thinking about not making the move for another 18mos, you should talk to a mortgage lender NOW & simply ask them "If I were to rent out my condo & show you a 1yr lease agrmt, how much can I qualify for?". I see you made a significant down payment & it sounds like your unit would currently sell on the higher end of comps because it's an end unit & sounds nicely upgraded. You're not THAT underwater, maybe $60K, I have other short sale clients who are $400K underwater!

Consider renting out your unit & buying another property. The lender is going to see you have an underwater asset, but if you can get it rented out, the lender wouldn't use the condo payment when figuring out what you can afford.

If you'd like to talk some more about it, just shoot me an email directly, I don't look back on this same Trulia thread for answers posted after mine.

EmilyKnell1@yahoo.com
562-430-3053 c
Realtor Since 1996
Main Street Realtors
0 votes Thank Flag Link Tue Nov 22, 2011
Apologize for not including my DRE# 01864864 in my last answer.
Best regards,
Nick Eden
0 votes Thank Flag Link Tue Nov 22, 2011
I would definitely suggest to get in touch with Realtor with property address so that they can pull comps for you and suggest you the right price to list in order to sell fast.
If you need any assistance, please feel free to contact me as I am a Realtor and would love to work with you,
Best regards and good luck,
Nick Eden
NICK EDEN GROUP
CP Realty
407 N Magnolia Ave
Monrovia, Ca 91016
PHONE: 626 203 3468
E Mail: nickeden@ymail.com
Web: http://www.NickEden.com
Web Reference: http://www.nickeden.com
0 votes Thank Flag Link Tue Nov 22, 2011
Please contact and meet a Realtor to assess your property. A Realtor can have a better idea of providing value upon reviewing the interior of the property. A Realtor can provide you facts and statistics re Via Marisol condos. Happy Selling!

Myrna Averia
real estate broker/associate
Lic 01269474
Keller Williams Realty
323 300 1143
JustListedMyHome@gmail.com
Web Reference: http://www.MyrnaAveria.com
0 votes Thank Flag Link Tue Nov 22, 2011
Hi Robyn,
Unfortunately, it looks like you will have to do a Short Sale. Many people who purchased in 2007 are in the same situation. Current real estate values have declined and some people either cannot continue to pay their mortgage for various reasons or do not see a good reason to continue with the property. Feel free to request a FREE home valuation online at http://www.getlosangeleshomevalue.com/ If you would like to learn more about the possibility of a Short Sale, visit http://www.Short-Sale-Vs-Foreclosure-Help.com
Depending on your situation, you may be able to receive money from your lender to help with the relocation (move). I have helped many of my clients with this. Feel free to contact me with any questions.

Thanks,
Sara Mehrpouyan CDPE
Rodeo Realty
Direct 818-903-2040
Dre License #01712757
0 votes Thank Flag Link Tue Nov 22, 2011
Hi Robyn,
Recently a 2 bed 2 bath in the complex sold at short sale for $240,000. Obviously, you won't get anything near what you paid for it. I'm sorry. You may consider a short sale. Why make payments on a $405,000 loan that's worth maybe $240,000? If you call me we can discuss your options.

Brian Byhower, CDPE
Certified Distressed Property Expert
RE/MAX Palos Verdes
DRE# 01376810
Cell: (310)621-2819
Fax: (310)388-8411
bbyhower@remaxpv.com
0 votes Thank Flag Link Tue Nov 22, 2011
Hi Robyn, it really depends on which complex you're in. Monterey Hills values have dropped significantly and some of the complexes on the hill are more desirable than others. Take a look at the latest Monterey Hills real estate report here - http://www.pasadenacarealestatehomes.com/monterey-hills-real…
0 votes Thank Flag Link Tue Nov 22, 2011
There are 5 Via Marisol Condos available now, and two are third floor. They range in price from $225,000 to $319,000.
I have a program available that calculates the value of your particular unit, and gives you an eight page report to evaluate the property. Email me if you'd like a copy.
Best,
Deborah Bremner
The Bremner Group at Coldwell Banker
REALTOR, 00588885, ABR, CDPE, eAgent, CSP, SFR, HRC, CRE
(O) 310-571-1364 DIRECT
(D) (310) 800-2954
http://www.thebremnergroup.com
Accredited Buyer Representative|Certified Distressed Property Expert |Pre-Foreclosure Specialist Certified
I want you to know that I appreciate any referrals from friends and associates who may be in the market to buy or sell real estate. You can count on me giving them the same high-quality service I provide to all of my clients.
0 votes Thank Flag Link Tue Nov 22, 2011
On average values dropped about 30-35% from the peak.
In condos there are other factors which can effect value.
First, if the complex has maintained the FHA certification, that is a plus.
Also, is the HOA solvent? Many HOAs have big problems with delinquent HOA dues. Lenders have guidelines and if the HOA has significant unpaid dues, that can affect an underwriter's decision to approve a loan.
Lastly, the condition of the complex is important. Likewise if there is a big special assessment coming up...

Good luck.
Keith
0 votes Thank Flag Link Tue Nov 22, 2011
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer