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713 Wildomar St
Pacific Palisades, CA 90272
$3,300,000
Conventional
Property
Bedroom
3
Bathroom
4
Property Type
Conventional
Square ft
4234
Property Description
Truly one-of-a-kind, this remarkable residence perfectly blends storybook architecture with elements of Spanish, Art Deco, and old-world farmhouse style. Originally built in 1930, the owners spent the last 60 years sourcing materials spanning from around Los Angeles, the Central Coast, and across Europe - all to create a home that exudes curated, refined character and unique craftsmanship. A gated front yard with verdant and mature landscaping ushers guests to the formal entry - a turret adorned by beautiful archways and stained glass. The living room features a gorgeous brick fireplace with a mantel made from an old oak wine press, leaded glass windows, and a vaulted/beamed ceiling made from reclaimed wood from a Los Olivos farm. A wrought iron spiral staircase ascends to a spacious loft overlooking the living room, complete with bookshelves and secret rooms. Original wood floors lead past the bar area and pot-belly stove to the formal dining room - flanked by antique doors to the balcony and sitting under clearstory windows above the natural wood beams. Natural light bathes the space, illuminating the gorgeous tilework and fixtures. Past the informal dining room, the kitchen exudes vintage farmhouse charm with a classic O'Keefe & Merrit oven/range, custom sink, and pantry, enriched by architectural details such as archways and copper-clad corners. The play of light through leaded glass in the afternoons adds a magical, colorful glow to the space. The main hall leads to a cozy family room and an Art Deco-inspired powder room featuring a built-in tub, shower, and sink set in pink and green hues. The primary suite includes a large bedroom with vaulted ceilings, a built-in vanity, ample closet space, and an Art Deco-style bathroom. Two guest bedrooms, each with unique character, share a beautifully tiled bathroom with a step-down shower and separate tub. One bedroom features cathedral-like windows and custom closets with a built-in desk, while the other boasts a seating area and a lofted sleeping space accessible by an oak beam staircase. The backyard is expansive - the main level features a deck, multiple lounge areas, a "casita" with a kitchen under vaulted ceilings made up of reclaimed produce crates and beams, a garden, and a shed. Steps lead down to a lower area flanked by a water feature/sculpture by local artist Carl Gillberg, as well as three rooms underneath the dining room: a storage room with bathroom, a workshop, and a darkroom. The majority of the backyard is surrounded by a fence made of railroad ties. Additional amenities include a basement, central heating, and a carport equipped with a garage door. This home's myriad of unique features, details, and vintage flair create a living experience that is as much a testament to artistry as it is a comfortable abode.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1930
MLS Number
24-386315
Location
Address
713 Wildomar St
City
Pacific Palisades
State
CA
Zip Code
90272
County
LOS ANGELES (NORTHWEST LA)
Listing
Provider
Name
Compass
Phone
Office Name
Compass
Office Phone
Agent Name
Dan Urbach

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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.