LA Luxury Foreclosures.com Los Angeles, CA Residential Foreclosures + Short Sales

4-23-2010 REO Updates

noreply@blogger.com (Cherniss Group) — Fri, 23 Apr 2010 22:37:00 +0000

4-23-10

90-day rule against flipping FORECLOSED PROPERTIES has been eliminated

noreply@blogger.com (Cherniss Group) — Mon, 18 Jan 2010 20:56:00 +0000

HUD TAKES ACTION TO SPEED RESALE OF FORECLOSED PROPERTIES TO NEW OWNERS

Measure to help bring stability to home values and accelerate sale of vacant properties

In an effort to stabilize home values and improve conditions in communities where foreclosure activity is high, HUD Secretary Shaun Donovan today announced a temporary policy that will expand access to FHA mortgage insurance and allow for the quick resale of foreclosed properties. The announcement is part of the Obama administration commitment to addressing foreclosure. Just yesterday, Secretary Donovan announced $2 billion in Neighborhood Stabilization Program grants to local communities and nonprofit housing developers to combat the effects of vacant and abandoned homes…

The waiver will take effect on February 1, 2010 and is effective for one year, unless otherwise extended or withdrawn by the FHA Commissioner. To protect FHA borrowers against predatory practices of “flipping” where properties are quickly resold at inflated prices to unsuspecting borrowers, this waiver is limited to those sales meeting the following general conditions:

· All transactions must be arms-length, with no identity of interest between the buyer and seller or other parties participating in the sales transaction.

· In cases in which the sales price of the property is 20 percent or more above the seller’s acquisition cost, the waiver will only apply if the lender meets specific conditions.

· The waiver is limited to forward mortgages, and does not apply to the Home Equity Conversion Mortgage (HECM) for purchase program.

Specific conditions and other details of this new temporary policy are in the text of the waiver, available on HUD’s website at: http://www.hud.gov/offices/hsg/sfh/waivpropflip2010.pdf

August 2009 Westside Foreclosure Market Update

noreply@blogger.com (Cherniss Group) — Mon, 28 Sep 2009 07:08:00 +0000

AUGUST 2009 MARKET UPDATE

City	Zip	NOD	NTS	REO
Bel Air	90077	6	8	1
Beverly Hills	90210	10	14	0
Beverly Hills	90211	4	1	0
Beverly Hills	90212	1	6	0
Brentwood	90049	6	13	0
Century City	90067	5	1	0
Culver City	90230	15	8	0
Culver City	90232	4	1	0
El Segundo	90245	9	1	0
Hermosa Beach	90254	14	4	2
Hollywood	90028	6	4	1
Hollywood	90068	13	17	6
LA: Beverlywood	90034	10	11	2
LA: Hancock Park/Larchmont	90004	9	19	3
LA: Los Feliz	90027	14	11	1
LA: Mid-Wilshire/Beverly Center	90036	6	6	0
LA: Pico/Robertson	90035	10	8	1
Malibu	90265	15	15	1
Manhattan Beach	90266	13	10	0
Mar Vista	90066	15	13	2
Marina del Rey	90292	9	6	0
Pacific Palisades	90272	6	2	0
Playa del Rey	90293	9	6	1
Playa Vista	90094	8	3	0
Rancho Park	90064	8	4	0
Redondo Beach	90277	11	12	2
Redondo Beach	90278	22	8	1
Santa Monica	90401	3	1	0
Santa Monica	90402	2	2	1
Santa Monica	90403	2	1	0
Santa Monica	90404	6	5	0
Santa Monica	90405	8	4	1
Venice	90291	19	9	0
West Hollywood	90038	14	7	2
West Hollywood	90046	17	12	3
West Hollywood	90048	5	13	1
West Hollywood	90069	31	11	2
West LA	90025	8	13	2
Westchester	90045	14	20	1
Westwood	90024	14	12	3

Source: www.DQNews.com and LA Times

Number of Property Foreclosures for Sale (By Area)

noreply@blogger.com (Cherniss Group) — Thu, 20 Aug 2009 16:12:00 +0000

The Cherniss Report

Market Foreclosure Study

August 20, 2009

An in-depth analysis of residential* foreclosure properties available for sale in Westside and Los Angeles Beach Cities.

Bel Air/Holmby Hills: 1

Beverly Hills: 4

Beverlywood: 2

Brentwood: 2

Century City: 2
Culver City: 3

El Segundo: 1

Hancock Park/Mid-Wilshire: 7

Hollywood: 7

Hollywood Hills/Sunset Strip: 10

Los Feliz: 3

Malibu: 2

Manhattan Beach: 1

Mar Vista/Palms: 3

Marina del Rey: 8

Miracle Mile/Beverly Center: 3

Pacific Palisades: 1

Playa del Rey: 1

Playa Vista: 1

Redondo Beach: 5

Santa Monica: 4

Venice: 2

West Hollywood: 8

West LA: 2

*single family houses, condos, townhomes, multi-units (income), and land

For media or other inquiries contact:

Darryl Cherniss,

President, Cherniss Group

877-229-0094

Pacific Palisades: 3 BR, 2 BA $1,225,000

noreply@blogger.com (Cherniss Group) — Thu, 04 Jun 2009 06:51:00 +0000

South of Sunset, East of N. Las Casas Pl. REO / What an Outstanding Pacific Palisades Home at this Price! Recent renovation with designer kitchen and baths, family room with gleaming wood floors and a fireplace, 3rd bedroom converted to an office with built-ins, living room with lots of windows and natural light. There s a great rear yard and brick patio decking with a terraced upper flat pad with treetop views. Move in condition!

Playa del Rey: 4 BR, 4 BA $875,000

noreply@blogger.com (Cherniss Group) — Thu, 04 Jun 2009 06:38:00 +0000

Bank owned. Borrower owed $1,325,000. Quality 4 bed 3.5 bath, house 4 blocks above the beach. Panoramic city, marina & mountain views from most rooms. Big 360 roof deck w/ built-in barbeque + 2 other large view decks, one w/ spa. Vaulted ceilings, latest earthquake foundation, dual glaze windows, maple hardwood floors, granite counters, stainless appliances, Sub Zero, marble baths. Walk to beach, Del Rey Lagoon and Ballona Creek; 5 minutes to LAX.

Beverly Hills: 2 BR, 2.5 BA $979,000

noreply@blogger.com (Cherniss Group) — Thu, 04 Jun 2009 06:34:00 +0000

West of Doheny, North of Beverly. Best price in Beverly Hills!!! Bank owned large 2bd 2.5 unit in prestigious building in great location. Unit boasts travertine floors, stainless steel appliances, breakfast area, living, dining, laundry room. Master has two walk in closest. Sliding glass doors lead out to balcony. Walking distance to restaurants and shops. Rooftop deck, sauna, gym, banquet room and conf room. Earthquake Ins included in dues. Approx. HOD: under $700.00/mo

Westwood: 3 BR, 2.5 BA $659,000

noreply@blogger.com (Cherniss Group) — Thu, 04 Jun 2009 06:27:00 +0000

Wilshire, East of Beverly Glen. Stunning Century City views from this 6th floor 3 bedroom, 2.5 bathroom condo. There is a large living room with a fireplace and double sliding glass doors opening to a wraparound balcony facing east and south. Wood, marble and carpet floors. Granite counters in the kitchen. Master suite with a private balcony and a bathroom with a separate shower and spa tub. Laundry hook ups and a two tandem parking spaces. Small seven story building in a convenient location. Approx HOD: under $600.00/mo

Playa Vista: 2 BR, 2.5 BA $645,000

noreply@blogger.com (Cherniss Group) — Thu, 04 Jun 2009 05:42:00 +0000

PRE-FORECLOSURE. This 2 BR, 2.5 BA in prestigious Chatelaine with lots of light and park views from every window. Over 1800 SF of luxury living. Townhouse style floorplan is set in a premium location facing Crescent Park. Highly upgraded - gorgeous marble flooring throughout first floor, custom built-in wall niches, plantation shutters, surround sound system, spacious gourmet kitchen with top-of-the-line Kitchenaid stainless steel appliances , imported Italian cherry wood cabinetry, and granite countertops. Upper level features laundry room, en-suite baths, two walk-in master closets, and master bath with large shower and soaking tub. Two side by side parking spaces. Private building amenities include: full-time concierge services, private pool and spa, business center, conference room and club house perfect for entertaining. Approx HOD: under $800 (includes Playa Vista master association). CLICK HERE for Virtual Tour*.

*note: Virtual Tour obtained from previous listing listed by Darryl Cherniss, Coldwell Banker.

Hollywood Hills: 5 BR, 6 BA $2,999,900

noreply@blogger.com (Cherniss Group) — Sun, 31 May 2009 07:03:00 +0000

BANK OWNED Landmark Property resting above the Hollywood Dell! Antebellum-style estate w/ enchanting Old-Hollywood flare. Pvt balconies from every room showcase 360° city & ocean views. Approx. 8,000 sf of flowing entertainment & living spaces. Sweeping staircase leads to 4 bdrms & office. 2 lrg mstr suites w/ walk-ins & marble baths. Grand scale Formal DR, LR, Library, Media & Breakfast rms, Office/Gym & maids. Privately gated, 3 car garage & large motor court. Bank will consider all offers!

Westlake Village: 3 BR, 3 BA $399,500

noreply@blogger.com (Cherniss Group) — Sun, 31 May 2009 06:45:00 +0000

North of Thousand Oaks Blvd. Looks almost new! New paint and new carpet throughout!Spacious 3 bedroom 2.5 bathroom townhome located at the end of a cul-de-sac at the top of the hill!! Living room features vaulted ceilings and fireplace, tile flooring, Gated patio area, 2 car attached garage with direct access. Formal dining area, community pools and spa. Easy walk to shopping, dining, entertainment and Westlake High School. Approx HOD: under $300.00/mo

Topanga: 3 BR, 2 BA $284,900

noreply@blogger.com (Cherniss Group) — Sun, 31 May 2009 06:41:00 +0000

UPDATE: Property is In Escrow.

East if North Topanga Cyn Blvd, South of Navajo Ln. REO!!! Bank Owned FORECLOSURE!!! Great value for this beautiful 3 Br 2 Ba newer constraction home in popular Tapo' O Topanga Community. High ceilings, nice kitchen with stainless steel appliances, spacious living and family rooms, large master suite and more! Private yard. Approx HOD: under $350.00/mo.

Pacific Palisades: 13k SF $549,000

noreply@blogger.com (Cherniss Group) — Sun, 31 May 2009 06:37:00 +0000

EAST OF CHAUTAUQUA BLVD. INCREDIBLE OPPORTUNITY TO BUILD YOUR DREAM HOME IN PRIME PACIFIC PALISADES LOCATION. REO/BANK OWNED PROPERTY LISTED BELOW MARKET VALUE FOR QUICK SALE. SOILS AND GEOLOGY REPORT AND PLANS AVAIABLE FOR VIEWING UPON REQUEST. CLOSE TO TRAILS, CANYON VIEWS.

Santa Monica: 2 BR, 2.5 BA $589,000

noreply@blogger.com (Cherniss Group) — Sun, 31 May 2009 06:29:00 +0000

20th & Santa Monica Blvd. Gorgeous Architectural Townhouse. Inviting living space with cozy fireplace & new recessed lighting expand to large patio with mature trees; perfect for entertaining and barbecues. Sky lights fill second floor with light. Cook's kitchen with granite counter tops & new recessed lighting open to breakfast nook with morning sun. Extra storage. Desirable side-by-side parking, guest spaces, & great Santa Monica location: Yahoo Center, Water Gardens, beach, & Promenade. Approx HOD: under $300/mo

West Hollywood: 2 BR, 2 BA $622,710

noreply@blogger.com (Cherniss Group) — Sun, 31 May 2009 06:24:00 +0000

SOUTH OF SUNSET, NORTH OF FOUNTAIN. REO AMAZING PRICE. RESTORED TO ITS ORGINIAL GRAND STYLE IN 2002. THE FINEST QUALITY MATERIAL AND CRAFTSMENSHIP WITH NO EXPENSE SPARED. EXQUISTE MARBLE AND GRANITE FLRS IN ENTRY OFFICE,KITCHEN AND LIV RM. ALL NEW TOP OF THE LINE APPLIANCES, GRANITE COUNTERS CUSTOM KITCHEN CABINETS. COLUMNS. INLAID MARBLE FLOOR, SOARING CEILINGS WITH RECESSED LIGHTENING. SO MUCH MORE. A MUST SHOW LISTING! APPROX HOD: UNDER $850.00/MO.

Westwood: 2 BR, 3 BA $1,175,000

noreply@blogger.com (Cherniss Group) — Tue, 26 May 2009 20:11:00 +0000

FORECLOSURE PROPERTY. Rare opportunity to own a tastefully redone stunning masterpiece in the exclusive Blair House complex. Dramatic open entry unfolds to endless ocean-city vus! Chefs kitchen with NEW Stainless Steel Subzero and Viking appliances. High gloss custom wood cabinetry, designer granite/mosaic marble. High ceilings, recessed lighting, handcrafted base/crown moldings. Wood flrs, Ralph Lauren Carpet, tons of closets. Full serv bldg; security, valet, rec rm,gym,saline pool/spa,tennis. Approx HOD: under $1,550.00/mo.

Brentwood: 1 BR, 1 BA $309,000

noreply@blogger.com (Cherniss Group) — Tue, 26 May 2009 19:51:00 +0000

North of San Vicente. Cheapest one bedroom condo in much sought after Brentwood. Bright and airy with an open floor plan. Sunken living room and kitchen with 12 ft ceilings and fireplace. Wood floors throughout. Quiet 18-unit building with a rooftop sundeck. Close to shops and restaurants. Approx HOD: under $400.00/mo

Beverly Hills: Duplex $1,999,000

noreply@blogger.com (Cherniss Group) — Sun, 24 May 2009 18:59:00 +0000

South Burton Way, West of Robertson. Classic 1930s Spanish duplex in great Beverly Hills location. Floor plan has 3bed/1.75 bath plus den with over 2000 sq.ft. in each unit. Both units enjoy spacious formal entry, living rooms with fireplace, formal dining rooms, dens, remodeled kitchen w/granite counters (lower) and original charming art deco baths. Lovely moldings and archways. Lower unit to be delivered vacant. Upper unit tenant occupied on month to month. Private backyard. New roof.

Units:

1: 3 BR, 1.75 BA @ $3,950/mo

2: 3 BR, 1.75 BA @ $3,950/mo

Westwood: 3 BR, 2 BA $849,000

noreply@blogger.com (Cherniss Group) — Sun, 24 May 2009 17:49:00 +0000

UPDATE (5/29/09): Property is In Escrow.

North of Olympic, West of Beverly Glen. Xlnt location. 3/1.5 bath. (1/2 bath w/out permit), Great lot for expansion. Spanish Style, Fireplace in livingroom; separate dining room; breakfast nook; Hardwood Floors.

Venice: 2 BR, 2 BA $658,350

noreply@blogger.com (Cherniss Group) — Sun, 24 May 2009 17:37:00 +0000

East of Lincoln. Bank owned. House is built in 1942. 2 car garage.

Sherman Oaks: 3 BR, 3 BA $799,000

noreply@blogger.com (Cherniss Group) — Sun, 24 May 2009 17:05:00 +0000

Lender REO. Excellent opportunity to own in prestigious Longridge Estates. Great views, Private Driveway, Open floor plan, baths have some upgrades, breakfast nook, pool and spa. Lots of potential!!!

Hancock Park: 4 BR, 3 BA $959,900

noreply@blogger.com (Cherniss Group) — Sun, 24 May 2009 16:56:00 +0000

South of Olympic, West of Western. REO Bank Owned! Beautiful upgraded English Tudor with spacious open floor plan. Property features 4 Bedrooms 3 Baths, master suite has high ceilings, walk-in closets, double sinks, spa tub & travertines. Eat in kitchen with center island, granite counter tops & upgraded cabinets. Other amenities include FD, FR, vaulted ceilings, hardwood floors, recessed lighting, upstairs bonus room with closet, & bathroom. All situated on a corner lot in a pride of ownership neighborhood.

Century City: 1 BR, 1 BA $347,999

noreply@blogger.com (Cherniss Group) — Sun, 24 May 2009 16:48:00 +0000

Century Park East. Bank Owned - Unit is in fair overall cond, but what a great price for a view unit in a great complex - w/24 hr security, pool, tennis, sauna, & doorman. Approx HOD: under $525.00/mo

Manhattan Beach: 4 BR, 4 BA $1,659,000

noreply@blogger.com (Cherniss Group) — Sun, 24 May 2009 16:37:00 +0000

UPDATE: Property is In Escrow.

North of Marine. Warm Contemporary in the Trees~ 3,200 sqft PLUS a bonus LOFT of 600 sqft!! This beauty is ultra warm modern and very chic. Truly a one-of-a-kind design & floor plan DESIGNED by Eric Portelli. Natural light is a key factor in the design offering a tranquil relationship between home & nature. Numerous windows by Sierra Pacific provides museum quality lighting. Innovative design such as the extra-wide glass swivel front door is a real show stopper as you enter the main living area, horizontal alder wood cladding on select walls adds modern character, oversized domed skylight above staircase, voluminous walls to showcase art and a lot of outdoor space decks made with plastic shaker sand stone are just a few examples of the eye-capturing design. Entire home is wired for surround sound, kitchen has gorgeous huge Marble Island, cesar stone & 48-inch pro-line Viking & Sub zero appliances. Master Bedroom has private yard and beautiful statuary granite marble counters and sable stone shower!

Editor's Note: This property was recently in escrow and is now back on the market.

Westwood: 2 BR, 2 BA $500,000

noreply@blogger.com (Cherniss Group) — Sun, 24 May 2009 16:19:00 +0000

SOUTH OF SANTA MONICA BLVD. BEAUTIFUL SPACIOUS 2BD 2BTH & DEN CONDO IN A SMALLER WELL MAINTAINED BUILDING. SPLIT FLOOR PLAN. LARGE MASTER WITH 2 WALK-IN CLOSETS. RECESSED LIGHTING THROUGHOUT AND LAUNDRY INSIDE UNIT. APPROX HOD: UNDER $300/MO