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Property Q&A in Palos Verdes Estates : Real Estate Advice

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  • Local Info1
  • Home Buying2
  • Home Selling1
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Activity 15
Tue Jun 17, 2014
Mom asked:
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This question was asked from this property: http://www.trulia.com/rental/3157814367-219-Palos-Verdes-Dr-W-Palos-Verdes-Estates-CA-90274#rateReview
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Mon Jun 9, 2014
yujaejoon asked:
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This question was asked from this property: http://www.trulia.com/homes/California/Rancho_Palos_Verdes/sold/4786742-32679-Seagate-Dr-202-Rancho-Palos-Verdes-CA-90275
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Sun Jan 5, 2014
Amy Kim White answered:
Most properties in Palos Verdes are fenced. In response to all the comments, the price does seem a bit low but PV Dr West is a busy street and that particular house may not be in the best shape inside. Without seeing it, I can comment about the monthly rent. If it's available, I would make sure someone locally checks it out. Email me at: awhile@eplahomes.com Re/Max Palos Verdes.

Thanks,
Amy Kim White
... more
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Thu Mar 14, 2013
Maureen Megowan answered:
yes, the property is available. The security deposit is $6,800. Showings are by appointment only, so you would need to call me so that I can make an appointment to show you the property. Owner prefers showings between 10AM to 5PM, NO PET , NO water bed, NONE smoker. Landlord prefer Minimum 2 years lease & furnished. Please call me at 310-541-6416. Check me out on my website at http://www.maureenmegowan.com ... more
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Wed Feb 27, 2013
Benjamin Bundoc asked:
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This question was asked from this property: http://www.trulia.com/rental/3103857482--W-G-St-Palos-Verdes-Estates-CA-90274
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Tue Mar 27, 2012
Maureen Megowan answered:
The multiple listing service says that the landlord estimates the square footage at 3,850 sq. ft. and that there are 5 bedrooms and 4 bathrooms Please let me know if you would like to see this home. Check out my website at http://www.maureenmegowan.com ... more
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Tue Nov 22, 2011
Maureen Megowan answered:
The original inquiry was for 1024 Via Palestra, which does not show in the MLS has having been for sale or recently closed escrow. It shows that a foreclosure action has been filed for this property. ... more
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Mon Nov 21, 2011
Sharona Byrnes answered:
Thanks for your interest in property in Palos Verdes.

This property is currently scheduled for auction. If you notice, the price at the top notes that it is the opening bid for the auction. Auction sales are very challenging, with a lot of legal and tax ramifications. If you are considering purchasing a property at auction, I highly recommend that you speak with an experienced real estate attorney. Cash is needed at an auction, and properties at auction rarely sell for a significant discount to market value. The bank doing the foreclosing has done an analysis of the market price, and has an advantage at the auction.

Currently, there are 219 properties in Palos Verdes that are Single Family homes. They range in price from $680,000 to over $14 Million. If you see a single family home in Palos Verdes on any of the real estate websites that are lower priced than this, you are not seeing a "For Sale" price but rather an amount of a loan that the owner is in default on.

If you are interested in properties in this price range, I would be happy to sit with you and discuss options. Thanks again for your interest, PV is a truly great place to live and work!
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Tue Nov 30, 2010
Michael Diamond answered:
Wed Nov 17, 2010
Michael Diamond answered:
As noted in the trulia information , this property is just delinquent on their mortgage, and is not available for sale. this home is not currently for sale so the address is unknown.
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Wed Nov 17, 2010
Michael Diamond answered:
This still lists as $53,000, strange.
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Mon Aug 30, 2010
Florence Mcfarlane asked:
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This question is about this property: http://www.trulia.com/foreclosure/3023740783--Palos-Verdes-Dr-W-Palos-Verdes-Estates-CA-90274
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Sun Dec 6, 2009
Shel-lee Davis answered:
Thomas:

It is correct that this property is not currently listed for sale. It should also be noted that there are three loans against this property. The 1st TD ($3.0 million) filed NOD in August 2009. The 2nd TD ($550,000) holder, which happens to be a private party lender, appears to have paid the delinquencies on the 1st TD and then filed their own NOD on Sept 8, 2009. There is also 3rd TD against the property for $400,000.

If you were to purchase this property, you would have to deal with all $4.0 million of debt. This would most probably require you to negotiate a short sale, and you might not get cooperation from the holder of the 2nd TD who, based on their actions detailed above, believe they are fully secured. (It should be noted, if the Holder of the 2nd forecloses, then that wipes out the 3rd, which is a junior lien).

If you are interested in pursuing a pre-foreclosure property in PVE, there are approx 35 in some stage of foreclosure. And as much as many believed that in this particular market we would not see any properties actually go to auction, there are 3 homes that have reverted back to the lender at the Trustee Sale/Auction. One is currently listed (on Via Solano), one may never be listed since the foreclosing lender was a private party lender, and the third may come on the market in the near future as it was taken back by the bank 10/29/09. If you would like more information, please feel free to contact me. Dare to Dream.

Shel-lee Davis, CDPE
Your Real Estate Consultant for Life
RE/MAX Palos Verdes Realty
http://shel-lee.listingbook.com
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Mon Nov 9, 2009
Beth Walsh answered:
This is an estimate of the loan balance in default. It is not a sales price. Keep in mind there may be more liens against the property such as additional loans, home owner's association dues, delinquent taxes, child support liens, mechanics liens, etc.

This public notice is designed to let the seller and creditors know the loan is in default. After a period of time, if the owner has not cured the default, the bank has the option to begin foreclosure proceedings. At this time, a buyer could go to the public auction and pay cash for the home.

The bank in most cases makes sure they are the highest bidder at the auction. If they take the home back through the auction they will at some point in the future release the home for sale to the general public. The turn around time once the property has been foreclosed in California ranges from 30 days to over a year if there are legal or structural problems.

The property may come on the market as a short sale. ( Priced less then what is owed on the home, subject to bank approval)

Buying bank homes (REO) and short sale properties requires a lot of homework on a buyer's part. You sound like you are at the beginning stages of your education. Trulia's question and answer section is a good place to start. I like www.activerain.com a lot. Keep us posted on how it goes.
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Tue May 26, 2009
Jeff asked:
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This question is about this property: http://www.trulia.com/foreclosure/2005653403--Via-Olivera-Palos-Verdes-Estates-CA-90274
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