Buyers!! Contact Matt @ 213 709 5537 for similar fixer opportunities
SOLD!!!$825,000
Bank Owned Home North of Sunset on N Beverly Dr. Contractors opportunity. This is a 5,500 sq.ft. 5BR/5BA 11,373 SQ FT lot home unfinished. This is a hillside home and needs A LOT OF WORK!!! Subject property will not qualify for financing and looking cash investors. Subject home will be sold ‘As-Is’.
Here are some locally specific statistics from MDA DataQuick’s quarterly foreclosure report for California.
Top five ZIP Codes in number of homes repossessed by lenders, per capita, second quarter 2009:
1. Tracy 95391 (148 Q2 foreclosures, 71 per 1,000 homes)
2. San Jacinto 92582 (220 Q2 foreclosures, 56 per 1,000 homes)
3. Lake Elsinore 92532 (244 Q2 foreclosures, 52 per 1,000 homes)
4. Perris 92571 (504 Q2 foreclosures, 47 per 1,000 homes)
5.Merced 95341 (477 Q2 foreclosures, 47 per 1,000 homes)
Some upscale communities with big annual jumps in foreclosures (in no particular order):
–South Pasadena 91030 (24 Q2 foreclosures, 200% over same quarter last year)
–La Jolla 92037 (103 Q2 foreclosures, 115% over same quarter last year)
–Manhattan Beach 90266 (35 Q2 foreclosures, 192% over same quarter last year)
–Calabasas 91302 (94 Q2 foreclosures, 170% over same quarter last year)
–Malibu 90265 (54 Q2 foreclosures, 146% over same quarter last year)
–Beverly Hills 90210 (61 Q2 foreclosures, 110% over same quarter last year)
Foreclosures are generally less than 1% of all homes in those upscale ZIPs, but they still skew prices. That’s because a much smaller percentage of total homes is typically on the market in those areas, so a few dozen foreclosed is a significant share of homes for sale.
San Marino 91108 had only three foreclosures in Q2, the same as Q2 2008.
– Peter Y. Hong
LA Times
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