Hundreds of LA County homes will be sold along the 710 Freeway corridor, Caltrans announced. The homes were acquired decades ago for a freeway project that never materialized, according to news reports.
Caltrans plans to sell the 460 parcels it bought for the proposed route, starting with 42 single-family homes in Pasadena, South Pasadena and El Sereno. Many of the homes are occupied, and transportation officials said in a press release that residents of the homes will be given first opportunity to buy them.
The LA Times reported that decades of litigation and legislation stalled the 6.2-mile freeway project before construction could begin. As a result, Caltrans was the landlord for 460 structures. Those properties range from modest cottages to Craftsman mansions.
There’s no timetable yet for when any of the properties would be available to sell to the public, but Contact Me to be notified of when the homes begin selling/auctioning to the public!
How selling these LA County homes will work
Caltrans has said the homes will be sold at fair market value, but qualifying long-term residents and those earning under 150 percent of area median income will be given a chance to purchase the properties at more affordable prices.
The agency has a tiered priority list of potential buyer categories, so it could take a while before the general public gets a shot at buying the property. After qualifying tenants, affordable housing development companies, current tenants above income thresholds and former tenants will get opportunities to make offers. After that, remaining properties are expected to be sold at public auction.
Conditional offers were sent to those who fall under those categories, with the top three tiers focusing on current and former tenants, according to news reports.
Contact Me now to stay in touch about when these LA County homes become available to the public!
This week, a prime piece of Pacific Palisades real estate went on the market with my brokerage, John Aaroe Group. Designed by acclaimed architect Paul Williams, the estate is located in the prestigious Riviera area of Pacific Palisades.
The home was designed in 1937 for retail magnate Benjamin Zucker. Paul Williams is said to have designed more than 2,000 private homes, many of them for celebrities, including Frank Sinatra and Lucille Ball. He also designed iconic buildings, such as the Beverly Hills Hotel.
Pacific Palisades real estate listing: 915 Amalfi Drive
This luxurious 7-bedroom, 6.5-bathroom home at 915 Amalfi Drive is listed at a price of $9,995,000 with Sally Forster Jones, president of Aaroe International Luxury Properties.
The home is set on nearly an acre of parkland, overlooking the foothills below. It’s position offers great privacy within convenient reach of the exclusive Riviera Country Club, as well as beaches, parks, Brentwood, Beverly Hills and more.
The estate has lovely period details, from rich wood floors to crown moldings and wainscoting to large windows that flood the home with light and offer beautiful views.
Other features include:
- Formal living room
- Formal dining room
- Wood-paneled den
- Piano room
- Sun room with decorative tile floors
- Upstairs sitting room
- Manicured gardens and fountains
- Almost 1 acre of parkland
If you’d like more information about this Pacific Palisades real estate listing, contact me today!
Contrary to popular belief, you can and should sell your Southern CA home over the holidays. Spring and summer are known as selling season, but that cuts two ways. A busy selling season means more buyers, but it also means more homes flooding the market.
So, let’s take a quick look at the reasons you should sell your Southern CA home over the holidays instead of waiting for another spring season to roll around.
4 reasons you should sell your Southern CA home now
You can Deck the Halls with great staging!
First impressions are everything with buyers. The holiday season gives you the perfect opportunity to wow them the moment they walk in the door. With tasteful decor you can emphasize your home’s best features while helping buyers better envision their own family living there. What better way to help your home stand out in its own unique way? This staging will also benefit your marketing, offering the opportunity for gorgeous photos for all those online shoppers!
You will more easily stand out
Without the flood of new listings hitting the market, more buyers will see your home. Less competition means more negotiating power for you. A Redfin study even indicated that homes going on the market between Dec. 21 and March 21 had a better chance of selling quickly and at less of a discount than homes listed in spring and summer.
Your buyers mean business
While there may be fewer overall buyers in the market for a home, those who do schedule showings of your property will be seriously motivated. People don’t waste their time browsing homes over the holidays. You can bet if someone is requesting a showing, they’re serious about buying and soon. It’s not uncommon to see people who are relocating for a job or other life circumstances that require them to commit to a purchase.
You’ll receive unexpected gifts
Closing your home sale near the end of the year has some additional benefits. Deducting interest, points and property taxes for payments made by Dec. 31 can be a major tax benefit!
If you’re thinking of selling, reach out to a real estate agent and/or staging professional to get you on the right path. I offer free home value evaluations, so don’t hesitate to contact me about selling your Southern CA home over the holidays!