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520 Johnson Street
Manhattan Beach, CA 90266
Marie Morgenstern with Berkshire Hathaway HomeService, original listing - (310) 318-9386
$3,575,000
Conventional
Property
Bedroom
5
Bathroom
Full: 1, ½: 1, ¾: 2
Property Type
Conventional
Square ft
3126 Square Feet
Property Description
Welcome to 520 Johnson St. in the highly sought after city of Manhattan Beach! This one-of-a-kind property has undergone many recent upgrades. From when you first step into the home you will fall in love with this incredible single-level 3,100 sq ft, 5Bed | 4Bath home, on a Mira Costa renowned 50x150 (7,459 sq ft) corner lot. When entering into the foyer you are greeted by large glass windows overlooking the tranquil atrium bringing in lots of sunshine. This beautiful home features high ceilings, a large separate formal living & formal dining rooms with lots of windows bringing in the fresh ocean breeze and abundant daylight. The formal living room includes a cozy fireplace & built-in bookshelves, makes for a nice retreat when you want solitude. Then for those fun filled gatherings, the enormously large family room is perfect for entertaining guests or watching your favorite sports team win! This room is equipped with coffered ceilings & a large crackling fireplace to enjoy along with access to the central atrium. This home is ideal for entertaining or relaxing. The large chef’s kitchen has been remodeled with sleek cabinetry featuring a huge dine-in Island & is equipped with high-end appliances including a 6-burner stove, perfect for culinary enthusiasts.This bright & airy “focal-point” is great for family gatherings. Off of the kitchen the glass sliding doors lead to the private patio and backyard. There is one bedroom conveniently located just off the kitchen that can be used as an office or mother-in-law suite. The rest of the bedrooms are private & separate from the entertainment areas. Each section of the home has its own forced air units & water heater for comfort and efficiency. The exceptionally large master-suite is very calming with a view to the atrium. Master bedroom features his and her closets, one full walk-in closet and a large secondary closet. Your en-suite bathroom is like visiting a day spa with skylights flooding the room with ambient lighting. You can also enjoy your morning coffee in the atrium. You’ll appreciate the 3-car garage with auto-sectional doors, quality Milgard dual-pane vinyl windows throughout. This really is a gem with upgrades everywhere & includes ample storage & offers a special kind of warmth with its lush mature landscaping, private rear yard, 2 skylights offering open & natural light throughout the home. This perfectly located home is close to award winning schools, high-end dining, beautiful beaches, & shopping.
Property Information
Lot Size
0 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
1967
MLS Number
--
Location
Address
520 Johnson Street
City
Manhattan Beach
State
CA
Zip Code
90266
County
LOS ANGELES (SOUTH BAY)
Listing
Name
Phone
(310) 890-7808
Office Name
Office Phone
(310) 318-9386
Agent Name
Marie Morgenstern
Agency Phone
(310) 318-9386

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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.