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July & August 2008 Foreclosures in Sunland CA & Tujunga CA

Posted on September 4, 2008 by John Hickey

Click here for larger map

This map includes foreclosed properties located in Sunland CA & Tujunga CA which banks took during July 2008 and the first two weeks of August 2008.  A few are already “on the market”.  Banks usually take about 4-8 weeks to process a home and get it on the market once it has been foreclosed so many of these won’t get on the market until September and October.  You may click on the icons on this map to see the address or you may click on the link to the larger map.

A few of the addresses included are:

11064 MCBROOM ST SUNLAND CA 91040
10222 KALUA DR SUNLAND CA 91040
7517 ALPINE WAY TUJUNGA CA 91042
10858 AMIDON PL TUJUNGA CA 91042
10308 WESCOTT AVE SUNLAND CA 91040
9823 HAINES CANYON AVE TUJUNGA CA 91042
10377 MCBROOM ST SUNLAND CA 91040
7439 TRANQUIL DR TUJUNGA CA 91042
6846 ELMO ST TUJUNGA CA 91042
6107 SISTER ELSIE DR TUJUNGA CA 91042
10028 HAINES CANYON AVE TUJUNGA CA 91042

Take a look at the map and click on the homes to see bedrooms, baths, sq. footage, etc.  Please note the assessed value is NOT the price of the home.  It is the most recent tax assessor’s value which property taxes for the property were based upon.  In most cases the list price will be less than the assessed value.

Categories : Local Foreclosure Information, Shadow Hills, Sunland Tujunga Homes
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Greatest Real Estate Sale

Posted on June 25, 2008 by John Hickey

Well, would you believe… greatest real estate unsold?  Sometimes the best thing is Not to Sell!

Clients of mine bought a home in the Verdugo Hills community of Sunland about 10 years ago, built a charming master suite addition and created some very attractive hardscape in the backyard.  In the process they refinanced and, at today’s prices, now owe a little more than what they could net if the sold today.

My clients, I’ll call them Jane & John Doe, called me a couple of weeks ago with some bad news – they’re going their separate ways and they wanted to put their Sunland house for sale.  So Sad!  Jane & John had struck me from the moment I first met them as the “Perfect Couple”.  Charming, energetic, young, hard-working – it’s very sad that they are now going to separate and move on.  It was even sadder to think that they were also going to have to give up their house and, most likely, ruin their great credit in the bargain.  During our “Real Estate Counseling 101″ we talked about money, the length of the process, the cost of having poor credit among other considerations.

During our consultation we carefully went over all the ramifications of a “short sale”, foreclosure & bankruptcy.  At the end of our meeting I strongly encouraged “Jane & John” to talk with their financial advisor and possibly attorney for their input.

It’s to early to say for sure but it looks like one of them may be able to keep the home after all.  Hopefully, they’ll be able to work it out.

Sometimes the best thing is to ring up…  NO SALE!

Stay tuned.  Hopefully, “Jane & John” will avoid putting their Sunland home for sale.

Categories : Short Sales, Sunland Tujunga Homes
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Loans, Underwriting Guidlines, Declining Markets & You

Posted on June 9, 2008 by John Hickey

One Mortgage Insurer\'s Take on Risk

So, you want to get a loan?

Got the credit worked out, have a great income and have the home picked out.  Boy, I sure hope you have already talked to your lender.  There are conforming loans, FHA loans, jumbo loans, jumbo conforming loans with Fannie Mae and more with Freddie Mac.

But, unless you’re getting an FHA loan or putting 20% or more down, don’t forget your mortgage insurance company.

An example – AIG United Guaranty.  They are one of the major mortgage insurors.  And, guess what?  If you want to buy a home in a “Declining Neighborhood” you will have to put a lot more money down and get a smaller loan.  La Crescenta (91214), La Canada (91011), Glendale (various 912 zip codes), Sunland (91040), Tujunga (91042) and most other local neighborhoods are (you guessed!) “Declining Neighborhoods”.  AIG’s website with info on “Declining Markets”

Recent changes to AIG’s underwriting guidelines beg the question, “Are lenders going to make a difficult market worse?  Will these guidelines force additional buyers to desert the home market?  It’s too early to say – May was a very good sales month.  But it’s worth remembering that despite the foreclosures and the difficult market for loans, Inventory in La Crescenta, La Canada, Sunland, Tujunga, Glendale and the surrounding communities is actually in balance or, in some cases, favors the seller.  The current level of foreclosures continues to keep up the pressure and offsets the somewhat low inventory.

 

Zip Codes of \

 

Check out this PDF with AIG’s “Declining Market” zip codes.  Who’d have guessed that La Canada among others is considered a declining market.  That doesn’t seem to make much sense!

 

 

 

Categories : La Canada Homes, Local Foreclosure Information, Sunland Tujunga Homes
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This Week’s Great Finds

Posted on May 2, 2008 by John Hickey

10218 Jardine Ave located in inexpensive area of South Sunland is listed for only $375,000.  A charming and affordable 1,286 square foot home with a comfy outdoor sitting area for friends and family.

10941 Whitegate Ave located in North Sunland, above Foothill.   This charmer is in move-in condition.

10338 Eldora Ave is another great South Sunland home offered for $365,000.

10434 Ditson St is located in Shadow Hills – a tight knit community of Sunland. A 1680 square foot home in a wonderful area.

Categories : Shadow Hills, Sunland Tujunga Homes
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New Listings in Sunland/Tujunga

Posted on April 27, 2008 by John Hickey

The Sunland/Tujunga caravan offered up some head-turners that I’d like to share with you:

8113 McGroarty St in South Sunland is a “Diamond in the Rough”.  A good sized home is located on a quiet Sunland Street at the foot of the Verdugo Hills.  The house sits on a large lot (approx 10,000 sq feet) plus it includes an adjacent lot.  Also in South Sunland, the very affordable 8420 Wyngate St is a REALLY CUTE home for $439,000 – it probably will sell quickly.  

Horse property at 9841 La Tuna Canyon Rd features two homes on one an enormous, 167,270 sq ft lot.  The first home is a three bedroom ranch style home with a massive wood-burning fireplace and inviting front porch. The second home has two bedrooms and another, seperate yard.

Another horse property is 9530 Wheatland Ave in Shadow Hills has 3 bedrooms and 2.5 bathrooms and is located on a huge 39,308 sq ft lot.  This home is a real charmer with an upgraded kitchen, moutain views, two fireplaces – one in the living room and the other in the master, a spa with gazebo and much more.  The grounds are exquisitely landscaped and ready for their next owner to enjoy

Categories : Horse Property, Shadow Hills, Sunland Tujunga Homes
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