Friday, September 14, 2007

Oddity on Sunswept

3615 SUNSWEPT DRIVE, Studio City, CA 91604
(MLS # F1734407)

Bedrooms: 3
Baths: 4
Square Feet: 3,276
Lot Size: 12,630 Sq. Ft.
Year Built: 1970
Listing Date: 09/12/07

"Reo [sic] bank owned property south [sic] of the blvd.[sic] Lowest price [sic] home in the area. Spacious 3 bed + 3.5 bath home. Three levels of living with great views. Granite in kitchen and large tiled baths lower level has a separate entrance with living room and kitchenette. Central heat & air. Balconies on all levels. Multi-million dollar neighborhood. Fix and save! Caution walking on balconies"

Zestimate $2,190,905

So, what was the bank owed on this house? $1.688M.

But what is the list price? $750k. NOT A TYPO! And quite a haircut!

And yet the previous owner allegedly paid: $2.105M.

Here's the Property Shark details:

8/15/2007 $1,688,117: Trustee's Deed
Aztec Foreclosure to HSBC Bank Series

5/31/2006 $2,105,000: Grant Deed
Nakachian, Rouzanna to Kadaryan, Ruzanna

12/23/2004 $835,000: Grant Deed
Duff Trust to Nakachian, Rouzanna

12/19/1991 $210,000: Grant Deed
Duff Trust to Duff, John T Ii

So what the hell? That's a big house in an expensive neighborhood. Reader Ace (Hi!) tells us:

"There is a note for the agents that says 'Property may have geological problems- buyer to be responsible for all inspections and reports'."

Ha! The house "MAY" have geological problems? Gee, ya think maybe that's why the bank is willing to take a nearly three-quarter of a million dollar haircut right off the bat? Possibly?


Anonymous #01 said...

You don't need any professional survey to notice that home looks like it is slipping off a cliff. However, it sure would be nice to buy that home and live close to work.

Ace said...

Even if that home falls of the cliff, the land is supposedly valued at $2 million.

If your land falls off the cliff...

Kate said...

"if your land falls off the cliff..." then you will finally have stable ground to build on, no?

Once you get to a 45 degree angle, there's no more slipping!

Anonymous said...

What are the odds that both the buyer and the seller in the $2,105,000 transaction were named Ruzanna?

Kate said...


Also, when I read it that ToTo song "Rosanna Rosanna" got stuck in my head. Maybe that was Asia? Lord, I am useless.

l.a. guy said...

Sounds like a tear down. I guess the people who shelled out 2.1M didn't bother to get a geological survey.

Expensive lesson to learn.

Ace said...

This just went to pending sale today. It will be really interesting to see what happens to this house.

Ace said...

Oops... the house is back on the market. It must really be sliding down that hill.

Anonymous said...

I went and checked on the where i saw an issue with the house. I have even hired an geological inspector and paid $$$$ for the reports...Based on the report there is some damage to the house...but it would cost the buyer no more than $50,000.00 to fix the problem. The house price is $750,000 add $50,000 for fixing, and the house value $1.3M to $1.6M so you do the math.....I think the agent has family member or friend is intrested buying the home and she is advertising it publicly.

Kate said...

So let me get this straight: (1) you went out and paid for a geological survey; (2) you have determined that the house is worth at least $400k more than the list price; BUT (3) you are not buying the house.

Gee, that certainly is unusual.

Anonymous said...

I am sorry i forgot to mentionew.... that I have submitted offer already...Its just matter of a time...sometime between today or Monday we should find out who is the winner....for this nice house.

Kate said...

Well, we'll all be watching for the listing to go inactive again...

...because surely you've created a bidding frenzy by telling the whole world about this great bargain that we almost missed! How altruistic of you to share your find with us! When you are bidding yourself!

*rolls eyes*

Anonymous said...

did it roll off the clift yet?

bella said...

i want know what happened to this house. sale or no sale?

love the blog. wish it would update more often :(

Anonymous said...