As we watch the real estate market creep toward recovery, we see two factors driving successful sales: price and condition. The price has to be very low and the condition has to be pristine. These days, pristine means clean, painted AND updated bathrooms and kitchens.
As you may have noticed, real property sold through probate is always offered as is. That's part of the appeal of probate properties for buyers: they're often fixers. The property owner may have lived in the house for many years and deferred a certain amount of maintenance.
In today's market, when pristine sells, heirs or fiduciaries may be tempted to look for a higher price by fixing up their loved one's home. But as soon as they do more than a major cleaning, they lose the protection of some of the disclosure laws of probate.
So the fiduciary is faced with a dilemma: lose the protection of probate or drop the price to a level where the house will be noticed in a price-driven market?
We are always available to answer your questions about probate and trust sales or any aspect of the real estate market. Give us a call at 310-777-2858 and visit or website at: www.sanbornteam.com
Thursday, May 27, 2010
Wednesday, May 19, 2010
Overbidders in Probate Court!
Yesterday was an exciting day in court with two of our three properties sold well over the starting bid. Even though these properties went to court twice and got postponed both times, we were still able to sell the properties for more than we ever thought. The Sanborn Team is dedicated to aggressive marketing on all of our listings, and we continue to show and advertise each of our listings up until the court hearing. The recent overbidding in court is a sign of our commitment to obtaining the most we can for the estates we work with.
1522 W. 105th sold for $155,000, and the starting bid was $121,355! 1041 W. 48th Street sold for $170,000 and the starting bid was $132,932! 113 E. 231st Street sold for $260,375. We were pleasantly surprised at the number of buyers that showed up on these properties. It goes to show you that the market is really picking up especially in the South LA area.
To learn more about our services, please visit us at: http://www.sanbornteam.com/
Also, become a fan on Facebook at The Sanborn Team Fan Page.
1522 W. 105th sold for $155,000, and the starting bid was $121,355! 1041 W. 48th Street sold for $170,000 and the starting bid was $132,932! 113 E. 231st Street sold for $260,375. We were pleasantly surprised at the number of buyers that showed up on these properties. It goes to show you that the market is really picking up especially in the South LA area.
To learn more about our services, please visit us at: http://www.sanbornteam.com/
Also, become a fan on Facebook at The Sanborn Team Fan Page.
Friday, May 14, 2010
Upcoming Court Date
Attention Investors! Contractors! All Buyers!
You still have an opportunity to purchase one of these properties.
The Court Date is: May 18, 2010
Location: 111 N. Hill Street, Los Angeles
Time: 8:30
1041 W. 48th Street, Los Angeles - Fixer with a future. 3+1 California Bungalow on a large lot. Opening bid will be: $132,932.
1522 W. 105th Street, Los Angeles - Single family with formal living room, eat-in kitchen, Fireplace in living room and two car detached garage. Opening bid will be: $121,355.
113 E. 231st Street - 2+1 w/large covered patio and two car garage. House orginally had 3 bedrooms and could easily be converted back. large backyard. Opening bid will be: $260,375
The Sanborn Team are your probate real estate experts. From South Los Angeles to San Fernando Valley to the oceans of Los Angeles, we have a wide array of listings for you. For more details please visit our website at: http://www.sanbornteam.com/ or you can call us with no obligation at 310-777-2858.
You still have an opportunity to purchase one of these properties.
The Court Date is: May 18, 2010
Location: 111 N. Hill Street, Los Angeles
Time: 8:30
1041 W. 48th Street, Los Angeles - Fixer with a future. 3+1 California Bungalow on a large lot. Opening bid will be: $132,932.
1522 W. 105th Street, Los Angeles - Single family with formal living room, eat-in kitchen, Fireplace in living room and two car detached garage. Opening bid will be: $121,355.
113 E. 231st Street - 2+1 w/large covered patio and two car garage. House orginally had 3 bedrooms and could easily be converted back. large backyard. Opening bid will be: $260,375
The Sanborn Team are your probate real estate experts. From South Los Angeles to San Fernando Valley to the oceans of Los Angeles, we have a wide array of listings for you. For more details please visit our website at: http://www.sanbornteam.com/ or you can call us with no obligation at 310-777-2858.
Monday, May 10, 2010
Elder Law Committee of the Trusts and Estates Section
The New Federal Health Care Reform Bill
and its Impact on Medicare
and its Impact on Medicare
Speaker: Stephanie Lee, Esq. Center for Health Care Rights
Thursday, May 13, 2010
Registration/Lunch: 12:00 Noon
Registration/Lunch: 12:00 Noon
Program: 12:30 - 1:30 p.m.; Lunch is Provided
BHBA CONFERENCE CENTER
300 S. Beverly Drive, #210, Beverly Hills (Free 2-hour parking at 216 S. Beverly Drive)
$50.00 BHBA Trusts & Estates Section members who pay in advance*
300 S. Beverly Drive, #210, Beverly Hills (Free 2-hour parking at 216 S. Beverly Drive)
$50.00 BHBA Trusts & Estates Section members who pay in advance*
$60.00 BHBA members who pay in advance*
$75.00 for all others who pay in advance* ($10.00 more at door for all)
*MINIMUM 24 HOURS - Refund with 48 hours notice - Raincheck with 24 hours notice
This event is FREE for members of The Order of Distinguished Attorneys .
Committee Chair: Terry M. Magady, Esq
Committee Chair: Terry M. Magady, Esq
As the official sponsor of the Beverly Hills Bar Association Elder Law Section, we are here to assist you with all your real estate needs. We are probate and Trust Real Estate specialists selling and marketing real estate throughout Southern California. To learn more about our probate real estate services, please visit: http://www.sanbornteam.com/
Subscribe to:
Posts (Atom)
