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18561 Elkwood Street
Reseda, CA 91335
$1,325,000
Conventional
Property
Bedroom
4
Bathroom
3
Property Type
Conventional
Square ft
3107
Property Description
HIDDEN GEM of a home! This 3107 sq. ft., two-story home has 4 bedrooms and 3 full bathrooms. Be transported to the entertainer's backyard with an incredible pool. This home is perfectly located near CSUN and is close to the 405/101/118 freeways and some of the best Magnet Schools. As you enter the property, follow the light as it moves through the beautiful trees and the skylights. Upon entering this well-cared-for home, notice the many upgraded design features that reveal incredible attention to detail. There are wood-beamed ceilings, crown moldings, a wrought Iron Staircase with a matching Chandelier in the adjacent dining room, arched doorways, beautifully distressed wood flooring, Built-in wall units, a Custom Bar with sink, a double-sided fireplace with hand-laid stone between the dining and living room, two Juliet Balconies in the upstairs Master Bedroom, and so much more. On the first floor, you will find a Chef's kitchen with a DCS Dual Heat Stove with a large granite center Island with a built-in sink, a Bay window overlooking the majestic front yard, hand-carved crackled finished cabinets, a built-in bar with sink with storage and mirrored backdrop. There are 3 bedrooms and two bathrooms downstairs. One of the bedrooms is a 2nd Master Bedroom that can double as an ADU/Mother-in-Law quarters or multipurpose room. This 2nd Master Bedroom has a large full bathroom with a Jacuzzi tub, walk-in shower, a walk-in closet, and private sliding glass doors that lead you to the spectacular pooled backyard. Upstairs you will enter an arched entryway that leads you to the Master Bedroom, Office/Nursery, and walk-in closet. The Upstairs Spa, like the Master Bathroom features a Steam Shower, Separate vanities with polished Granite Countertops with Gold Fixtures, a Slate floor, tumbled marble mosaic tiled walls, a Skylight, and a Jacuzzi tub. The office/Nursery has two skylights and a window overlooking the Backyard. The Master bedroom has a stepped coved round ceiling and two Sliding doors that open to Juliet balconies. In the retreat-like lush backyard, there are tropical palms and manicured trees, which include perfectly placed greenery for maximum privacy. The custom-built Pool has multiple waterfalls, a Grotto, a deep-sized Jacuzzi with massage jets, and an outdoor covered bar with a gas barbeque. This home includes Custom Italian Plaster on the exterior, Newer Owned Solar Panels, an intercom entry gate, and an automatic driveway security gate.
Property Information
Lot Size
7,798 sqft square ft
Property Type
Residential
Year Built
1955
MLS Number
SR24060454
Location
Address
18561 Elkwood Street
City
Reseda
State
CA
Zip Code
91335
County
LOS ANGELES (SAN FERNANDO VALLEY)
Listing
Provider
Keller Williams VIP Properties, original listing
Name
Keller Williams VIP Properties
Phone
(661) 290-3700
Office Name
Keller Williams VIP Properties
Office Phone
(661) 290-3700
Agent Name
Lisa Baniahmad

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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.