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15820 Royal Oak Road
Encino, CA 91436
$11,995,000
Conventional
Property
Bedroom
6
Bathroom
11
Property Type
Conventional
Square ft
12409
Property Description
New custom estate on a prestigious street in the highly coveted Royal Oaks neighborhood of Encino - enveloped by oak trees providing privacy and a feeling of secluded nature. Featuring 6 BR – 11 BA, office, gym, and home theater in over 12,000 sq ft on an almost 40,000 sqft wide, gated lot with tall trees for privacy. Expansive gourmet kitchen features Taj Mahal quartzite countertops, two islands, breakfast nook, custom cabinetry, Wolf appliances including espresso maker, walk-in pantry, and full secondary kitchenette. Family room features custom built-ins, two-way fireplace with porcelain slab accent wall, and sliding doors to covered patio area. Bright dining room features wet bar with seating, wine refrigerator, and walk-in wine display with accent lighting. Adjacent formal living room features two-way fireplace and sliding doors to yard. Second wing features den area with wet bar and sliding doors to yard, en-suite office with custom built-in, en-suite gym with floor-to-ceiling mirrored walls, and home theater with custom built-ins. Spacious and serene yard features stunning modern pool/spa and resort-like amenities such as firepit, BBQ area with bar seating, custom water feature, basketball hoop/sport court, and oak-lined hillside highlighted by accent lighting. Staggering primary suite of over 1,300sqft features high, pitched ceiling, custom accent wall, seating area with built-ins/fireplace and balcony, and second balcony/deck overlooking yard and oak hillside. Main primary bath features marble flooring/ceilings, vanity with bulb-lined makeup mirror, and steam shower with porcelain slabs. Expansive primary closet area features two walk-in closets with islands and accent lighting, and spacious secondary bathroom. Home is completed by entertainer/designer details such as custom woodwork/tilework throughout, floor-to-ceiling windows, upstairs den area with fireplace, elevator, spacious secondary en-suite bedrooms, two powder rooms, three-car garage with wide driveway for additional parking, surround sound speakers, Control 4 smart home system, and security system with alarm/cameras. Truly a must see to take in all this stunning home has to offer!
Property Information
Lot Size
39,655 sqft square ft
Property Type
Residential
Year Built
2023
MLS Number
SR24042898
Location
Address
15820 Royal Oak Road
City
Encino
State
CA
Zip Code
91436
County
LOS ANGELES (NORTHWEST LA)
Listing
Provider
Coldwell Banker Residential Brokerage, original listing
Name
Coldwell Banker Residential Brokerage
Phone
(800) 500-4053
Office Name
Coldwell Banker Realty
Office Phone
(818) 788-5400
Agent Name
Avi Barazani

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HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.