Pelican Parts Forums - Need a little Detective Work

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Nothing may be recoverable if property was sold under a warranty deed, as federal banking regulations may apply.
(I do not know. Grant may apply differently there)

What Is a Grant Deed in California? | Home Guides | SF Gate

If I lived closer (a LOT closer) I could do wonders for the landscaping.

In my biz we have our own real estate philosophy:

Curb appeal
Curb appeal
Curb appeal

:)

As I gather it we have to sue the previous homeowner, the CC&R's don't allow us to attach the new buyer under a state public auction. I have a small claims suit against the prior owner which is set for Monday, March 4.

Quote:

Real Estate 101<br><br>Location Location Location.<br><br>Someone sold a parking spot around here for 250k <img src="http://forums.pelicanparts.com/ultimate/rolleyes.gif" border="0" alt="" title="Roll Eyes (Sarcastic)" class="inlineimg">

I think that someone paid $5M for a double-wide in a trailer park in Paradise Cove, Malibu. Right near the water. There are some bizarre RE stories out here.

Quote:

<div class="pre-quote">Quote de <strong>speeder</strong></div><div class="post-quote"><div style="font-style:italic">You can get one like it for $3-4 million in Santa Monica north of Montana Ave. In RE, three things determine the value: location, location and location. Free people in a free market will pay $4M for a small house in Santa Monica or $150k for a house where you live. It's not the house that determines value, it's the location it's sitting on.<br><br>Maybe you could have your house moved somewhere more desirable? Might be worth it. <img src="http://forums.pelicanparts.com/ultimate/smile.gif" border="0" alt="" title="Smilie" class="inlineimg"></div></div>True, but I do often wonder why someone with $1-2 mill to spend on a house in such a great area can't afford to knock such a turd in the head and build new. That heap could be built new (construction costs only) here for $150k or so. So while it would still be a turd at least it would be a new turd <img src="http://forums.pelicanparts.com/ultimate/smile.gif" border="0" alt="" title="Smilie" class="inlineimg"><br><br>Yes I realize construction costs are more there but materials are commodities to a degree.

I've never seen someone buy a "turd" house in a pricey area here and not tear it down and start over. The only turd houses belong to old people who've lived in them for many decades, when the area wasn't quite so special.

Anyways, the house in this thread doesn't look so bad other than needing a major make-over. Hugh's area is nice and semi-rural but not a place where houses are outrageously expensive. Under a million is tough to do anywhere you'd want to live in Los Angeles proper.

You just gotta pick your battles. If the former owner finds out you posted pictures of the inside of his house and his stuff on the internet, you are gonna be on the other side of the aisle in court.

Just because it sold at one of those sham auctions doesn't mean it is not still in his
name.

Tread lightly and let it go. Someone will be taking over and doing the 'hood proud, very soon.

^^ slow internet connection?

i'm thinking grow house/farm.

How odd that I'm sitting in Lahaina right now reading this.

Thought maybe there was an update on the outcome...is there?

House was sold at public auction to a flipper firm for cash by the LA County Assessor, or whomever. Redone on the interior and exterior. I think the flipper company, which IIRC is pretty big, made about $75K on the deal in about three months, after putting about $50K into it. They paid HOA dues for the few months they owned it, with no hassle.. Sold to a good guy who is some mid level financial guy at NBC/Universal. All is good in the hood, 25 homes, 25 dues paying HOA members. Got a judgment against the former owner for back dues, interest and penalties but we can't find him. Moral of the story, sue in small claims court when you know where he lives.

If I remember, I'll post a pic later of the house now. Much nicer. I was in the house at Xmas and it was redone with HD type kitchen cabinets, mid level carpeting and tile but quite nice. Still had the original, really cheap, single pane extruded aluminum windows and sliding doors.

It would not have taken much to get that place look'n sharp. Cali prices are stupid high....you pay for a nice day.

Quote:

Originally Posted by speeder (Post 7280185)

I think that someone paid $5M for a double-wide in a trailer park in Paradise Cove, Malibu. Right near the water. There are some bizarre RE stories out here.

True that. I have a friend who lives in Paradise Cove (literally a trailer park in Malibu). Her dad bought the place eons ago. She had a few multi-million dollar offers for a trailer that overlooks the Pacific. Crazy.

I'm also good friends with a guy who runs a organic farm on PCH (got married there, actually). He has over 5 acres. The developers have been trying to get that land for years. The land is easily worth millions.

He wont sell it to anyone that wont use it as a farm. The soil value is incomprehensible. You can grow anything there. I usually camp there when Im back in LA. Best figs I've ever eaten.

Dibs on the guitar stand in the 3rd pic!!! Or in The Walking Dead parlance - Claimed!

EDIT: Crap! Didn't realize the thread is over a year old. Damn! :(

Hugh, what did it finally sell for if you don't mind me asking?