The best deal in Beverly Hills!

Our probate listing at 211 Spalding Drive in Beverly Hills was just reduced to $699,000!

This is a must see, must sell unit! Beautiful two bedroom three bath with a den and living room with fireplace that opens to a large private balcony with city views. Also features an eat in kitchen, formal entry and large dining area. The master suite boasts closets galore and grand bathroom. Light and bright throughout. Full service building with pool, gym and valet parking. Prime location, close to Beverly Hills shops and Century City. Probate sale. Court confirmation required. To view a visual tour tour of this probate listing, please click here:
View a virtual tour of this probate listing

For more information about us and our probate listings, please visit our website at: www.sanbornteam.com

2704 43rd Street - This one won't last!

List Price: $199,000

New on the market and already generating a ton of interest! This is a two bedroom one bath home with a formal dining room. It is most definitely a fixer with a future! Probate sale. Court confirmation required.

This home is located in the Liemert Park neighborhood which is a historical area that began around 1928. As I drove around it became clear that people really care about their properties. It is also considered to be the center of the African-American arts scene in Los Angeles with blues and jazz clubs; as well as venues for Hip Hop and numerous dramatic performances and poetry readings. The Lucy Florence Coffee House and Cultural Center came to Leimert Park in 2000, hosting an array of Talent, Art and Music.

The Sanborn Team has over 30 years of experience selling Probate and Trust properties such as this one. For more information about us and our listings, please visit our website at: http://www.sanbornteam.com/

Professional Investors Move Into Flipping Foreclosed Properties

An August article in the LA Times noted a surge in “flipping foreclosed homes” by wealthy individuals and equity funds. Flipping is a buy- low, fix- up, sell-high strategy that has worked for entrepreneurial types, who often move from house to house along the way. Today’s “flippers” are taking advantage of deeply discounted prices at public auctions to buy extremely low, make wholesale improvements and turn a quick profit. To read the complete article, click here: Professional investors move into flipping foreclosed homes - latimes.com



The article definitely caught our attention since we are seeing the very same thing with our Probate and Trust listings. This is especially so with our probate sales in South Los Angeles County. For example, a property we sold recently on 29th Street, near USC generated huge interest from investors. We had at least five over- bidders in court and the property went for nearly twice what we listed it for! The investment group that purchased it will turn it into student housing.



The heirs and professional fiduciaries we work with put a lot of trust in our ability to sell these properties quickly and at the best possible price. This is validation of The Sanborn Team’s commitment to negotiating deals, anticipating roadblocks and getting top dollar for the estate’s number one asset.



For more information about the Sanborn Team and the probate properties we have available, please visit our website at: http://www.sanbornteam.com/

Orange County Business Journal Report

Home Prices Increase $5,000 in July, Sales Fall
Tuesday, August 17, 2010

Orange County’s median home price inched up $5,000 in July from a month ago, but sales levels fell by nearly 26%, loosing the boost of federal home buyer tax credits.
The median price for an OC home was $450,000 in July, about a 1% gain from a month ago, according to San Diego-based MDA DataQuick, a unit of Canada’s MacDonald Dettwiler and Associates.
The median price here now is $30,000 or 7.1% higher than a year earlier, but still is about 30% below OC’s highest median price, set in the summer of 2007.
Sales in OC totaled 2,527 in July. That’s a 26% decline from a month ago and a 19% drop from a year ago.
June’s sales volumes were boosted by buyers facing a June 30 deadline to take advantage of an $8,000 federal tax credit, which has since been extended to this fall.
For all of Southern California, the median price for a home was $295,000 in July, down $5,000 from June’s prices but up 10% from a year ago.
Southland sales totaled 18,946 in July. That’s down nearly 21% from June’s totals, and also about a 21% decrease from a year ago.
It was the steepest year-over-year decline for Southland sales since March 2008, according to MDA DataQuick’s figures.
Foreclosure resales accounted for a 34% of the Southland’s resale market last month. That’s down from a high rate of 56.7%, set in early 2009, according to MDA DataQuick’s figures.

There has never been a better time to buy a home! We at the Sanborn Team understand the Real Estate market very well, specifically Probate and Trust sales. For more information about us and to view our properties, please visit our website at: http://www.sanbornteam.com/

Elder Law Committee of the Trusts and Estates Section Meeting

The Care and Feeding of Engagement Letters - Conflict Waivers, Fee Agreements and Exit Strategies

Speaker
Margaret G. Lodise, Sacks, Glazier, Franklin & Lodise, LLP

Date

Tuesday, August 17, 2010

Time

11:45 a.m.- 12:30 p.m. 12:30 - 1:30 p.m.

Place

LAWRY'S 100 N. La Cienega Blvd., Beverly Hills (1/2 block North of Wilshire Blvd.) Free underground parking.

As the official sponsors 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/

Southland home sales edge up, prices level off

	Sales Volume Median Price All homes Jun-09 Jun-10 %Chng Jun-09 Jun-10 %Chng Los Angeles 7,636 7,849 2.8% $320,000 $335,000 4.7% Orange 2,958 3,423 15.7% $418,000 $445,000 6.5% Riverside 4,694 4,645 -1.0% $185,000 $210,000 13.50% San Bernardino 3,438 3,179 -7.5% $140,000 $160,000 14.30% San Diego 3,692 3,885 5.2% $314,250 $335,500 6.8% Ventura 844 890 5.5% $365,000 $384,000 5.2% SoCal 23,262 23,871 2.6% $265,000 $300,000 13.20%
	Per DQ news.com, “The market was wildly out of kilter a year ago, now it’s just somewhat out of kilter. We’re still seeing lots of bargain hunting, and we’re not seeing much discretionary buying. The single-biggest issue is still mortgage financing. Rates may be at record lows, but that doesn’t mean much if the lender won’t qualify you." The Sanborn Team is here to help you with all of your real estate needs! For more information about us and to view our probate listings, please visit our website at: www.sanbornteam.com

Aug. 15: Last day to apply for state first-time buyer tax credit

The Franchise Tax Board (FTB) recently announced it will accept applications for the California first-time home buyer tax credit through midnight on Sunday, Aug. 15, 2010. The FTB believes it will have received more than enough applications to cover the $100 million allocated for eligible first-time home buyers. It will continue to accept applications for the new-home portion of the state tax credit.
Due to the high volume of faxes the FTB is receiving, consumers may experience some delays and difficulties in connecting to the fax number during normal business hours. It can take several minutes or possibly up to an hour to connect and transmit the fax. Buyers who receive a busy signal are advised to try again later. The fax number is open 24 hours a day, so consumers may fax applications during non-business hours when the line is not as busy.
For more information about the California state tax credits for first-time buyers and buyers of new homes, including eligibility requirements, please visit http://www.ftb.ca.gov/individuals/new_home_credit.shtml.
_home_credit.shtml.

We at the Sanborn Team are here to help you with all of your real estate needs. Our website at: www.sanbornteam.com offers great information about probate and trust sales and how they work. We have over 30 years of experience working with heirs, conservatorships, professional fiduciaries as well as administrators of an estate. We look forward to hearing from you!

June Home Sales Report

Following is a excerpt from an LA Times article that reports home sales numbers for June of this year compared to last year.

Per the LA Times........

Existing, single-family home sales decreased 4.2 percent in June compared with June 2009.

The statewide median price of an existing single-family home increased 13.6 percent in June to $311,950 compared with June 2009.

“Buyers who scrambled to close escrow in May to take advantage of federal and state tax credits before they expired impacted the number of homes sold last month,” said C.A.R. President Steve Goddard. “Although we expect sales to be lower in the second half of the year because of the absence of the government stimulus, they should remain above the long-run average and be significantly higher than the trough in 2007, when sales bottomed out.

“Although the tax credits are no longer available, it’s important to keep in mind that home prices are substantially below their peaks and interest rates remain at historic lows, making this a very affordable time for many first-time buyers to purchase a home of their own,” he said.

Closed escrow sales of existing, single-family detached homes in California totaled 492,800 in June at a seasonally adjusted annualized rate, according to information collected by C.A.R. from more than 90 local REALTOR® associations statewide. Statewide home resale activity decreased 4.2 percent from the revised 514,230 sales pace recorded in June 2009. Sales in June 2010 decreased 11.1 percent compared with the previous month.

It's clear that both home prices and interest rates will remain low for some time. We at the Sanborn Team have over 30 years of experience with Probate and Trust Sales of Real Property. Time and again we've been able to get top dollar for the estates we work with. For more information about us, please visit our website at: www.sanbornteam.com

Hot new listing!

This one is a gem in a beautiful area and under $500K! Spanish style two bedroom and one bath with a formal dining room and den, in the heart of prestigious Rossmoyne district of Glendale. This is a sunny home with great curb appeal and a grassy backyard. Probate sale. Court confirmation required.

For more information, please visit our website at: http://www.sanbornteam.com/

Attention Investors and builders!

3461 2nd Avenue, Los Angeles

Great opportunity for less than $250K! This is a three bedroom one bath fixer with a formal dining room. Service porch with washer/dryer hookup. Probate sale.

The Sanborn Team has over 30 years of experience selling probate and trust properties in and around Southern California. Please visit our website at: http://www.sanbornteam.com/ to view this listing and others we have available!

Price reduction on wonderful Santa Monica home!

We have a great probate listing at 1126 Yale in Santa Monica. AND we've just had a price reduction from $1.2Million to $1.1Million! Prime Santa Monica location, north of Wilshire! Charming 2BR/2BA with a den and formal dining. Fireplace in living room and den. Service porch with washer dryer hook up. Hugh backyard. Tons of potential! Probate sale. Court confirmation required.

The Sanborn Team has over 30 years of real estate experience specializing in the sale of probate and trust properties. We pride ourselves in selling real property through Trust and Probate and helping families and beneficiaries get the most from their assets.

For more information, please visit our website at www.sanbornteam.com

Death of a Real Property Owner

The Sanborn Team recently attended a very informative meeting with L.A. County Assessor, Rick Auerbach. During that meeting he discussed tax issues important for homeowners and what to do upon the death of a real property owner. In a nutshell……..

Death of a Real Property Owner

“The Assessor’s Office must be notified upon the death of an owner within 150 days of the date of death, or, if the estate is probated, prior to or at the time the inventory and appraisal is filed with the court clerk. The Change in Ownership Statement Death of Real Property Owner form is required to be completed and submitted to the Assessor’s Office, even if the decedent held the property in a trust. Failure to file a Change in Ownership Statement within the time prescribed by law may result in a penalty of either $100 or 10% of the taxes applicable to the new base year value of the real property or manufactured home, whichever is greater, but not to exceed $2,500 if that failure to file was not willful. This penalty is added to the assessment roll and is collected like any other delinquent property tax and subject to the same penalties for nonpayment.”

To learn more about this and other valuable information from the Assessor’s Office, please visit their website at: http://www.assessor.lacounty.gov/.

The Sanborn Team has over 25 years of experience selling Probate and Trust properties in Southern California. We work with Probate Attorneys, Fiduciaries, Executors, Trustees and other real estate agents who require our expertise in this field. For information on our listings, please visit our website at: http://www.sanbornteam.com/.

Overbidders in Court!

Today was an exciting day in court! Our property at 840 Cedar, #4 in Long Beach sold well over the starting bid. Starting bid was $63,500 and it sold for $80,000!


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.

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.

Headed to the Courtroom on Monday!

Our listing at 840 Cedar, #4 in Long Beach will be going to court. This unit is adorable, neat and tidy. It's a one bedroom one bath located near downtown. If you're interested in coming to court and overbidding, the overbid amount will start at $63,500.

The Court Date is: July 12, 2010
Location: 111 N. Hill Street, Department 9 Los Angeles

Time: 10:30

The Sanborn Team are your probate real estate experts. 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.

4th of July Fireworks around town!

4th of July Fireworks in Los Angeles

Burbank - Starlight Bowl - 1249 Lockheed View Drive - 9:00PM

Calabasas - Calabasas High School - 22855 W. Mulholland Hwy - 9:00PM

Culver City - Culver City High School - 4401 Elenda Street - 9:00PM

Pasadena: Rose Bowl - Americafest 2010 - 2:00-9:30PM

Redondo Beach - Seaside Logoon - 200 Portofino Way - 9:00PM

Studio City - CBS Studio Center - Grant Ole 4th of July Fireworks Festival - 4024 Radford Ave.

Torrance - Torrance Beach off Barge Palos Verdes & Via Rivera - 9:00PM

We at the Sanborn Team wish you and your familes a safe and happy 4th of July!

For more information about the Sanborn Team, your trust and probate real estate specialists, and to view some hot probate listings, please visit our website at: http://www.sanbornteam.com/

Great Probate Properties still available!

We at the Sanborn Team would like to wish you and your familes a happy and safe 4th of July! As a reminder, we have some wonderful probate properties still available. For example, we have a charming 3+2 at 6527 W. 83rd Street in a fabulous neighborhood in Westchester AND under $600,000! Another great probate listing we have is on 11607 Regent in Mar Vista, also in a very good neighborhood. Don't miss these amazing opportunities!

The Sanborn Team has been representing sellers in probate and trust real estate for over 30 years. For more information about our expertise in selling real estate through probate and trust please visit our website at: http://www.sanbornteam.com/

Fabulous house in Westchester for under $600,000!

6527 W. 83rd Street, Westchester
$599,000
Don't miss this amazing opportunity!

Terrific Westchester home in great location! This property features three bedrooms and two baths, living room with fireplace and a grassy backyard. A perfect first home in a quiet neighborhood. Minutes from LAX. Probate sale. Court confirmation required.

For more information on this probate listing and others we have available, please visit our website at:www.sanbornteam.com

Elder Law Committee of the Trusts and Estates Section

Trust Asset Management

The Trustee's Evolving Duties and Liabilities

Official Section Sponsor

Kenneth A. Feinfield, Esq., Managing Director and Chief Fiduciary Officer at Wilmington TrustSeth W. Krasilovsky, Esq., Partner at Mitchell Silberberg & Knupp, LLP

Date: Tuesday, June 15, 2010

Place: Lawry's - 100 N. La Cienega Blvd., Beverly Hills

Registration/Lunch: 12:00 Noon Program: 12:30 - 1:30 p.m.

As the official sponsors 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/

Upcoming Court Date

Attention Investors! Contractors! All Buyers!

You still have an opportunity to purchase one of these properties.

The Court Date is: June 9, 2010

Location: 111 N. Hill Street, Los Angeles
Time: 8:30

1422 W. 29th Street, Los Angeles - This 3+2 is a major fixer. Minues from USC. Overbid starts at $163,250.

1460 E. 49th Street, Los Angeles - Two vacant houses on lot. Both houses have two bedrooms and one bath. Overbid starts at $126,500

728 Cedar, #21, Long Beach - 1 bedroom with dressing area. Spacious kitchen with room for an eating area. Overbid starts at $53,000

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.

New Listing Alert!

New Listing!!

2128 Cloverdale in Los Angeles

This three bedroom two bath traditional is a fixer with loads of potential. Property features living room with fireplace, formal dining room and two car detached garage.

To view photos please click here: http://www.visualtour.com/show.asp?t=2211834&prt=10003

Probate sale requiring court approval.

The Sanborn Team has been representing sellers in probate and trust real estate for over 30 years. For more information about our expertise in selling real estate through probate and trust please visit our website at: http://www.sanbornteam.com/