Blog Cabalasas

Need Another Price Reduction on this Calabasas Bank Owned Fixer

July 15th, 2011 Categories: Calabasas Foreclosures

This four bedroom, two bath one story home has been listed for more than a year.  First as a standard sale, then a short sale and most recently as bank owned.  The price has also been reduced along the way but not near enough.  The home is currently listed for $525,000 and does need some work, landscaping and updating.  The home is located on a sloping lot with some nice views and a pool.

A quick check of the numbers and surrounding comparable sales show that this house should sell closer to $470,000ish.  According to the MLS listing the bank re-appraised the house in May and they think it’s value is closer to $525,000.  The MLS blurb that appears for all to see even says, “ All offers below the appraised value/list price will be countered to the appraised value/list price”.

I’m not a big fan of scaring off buyers before they make an offer, but hey, that’s my personal opinion.  This is a great home for a family looking to get started in Calabasas as long as they have some extra funds available to fix up this diamond in the rough.  We’ll keep an eye on this one for further price reductions.  If you’d like to see this pool home with a view, please call Tracey Thomas at 818-652-2937.

We're sorry, but we couldn't find MLS # f11032386 in our database. This property may be a new listing or possibly taken off the market. Please check back again.


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