We are looking at and bidding on two different houses this weekend. The first is located four blocks from WL's parents in Highland Park. The homes there have been hit harder by the Los Angeles foreclosure crisis than other areas because of predatory loan practices. This house has three bedrooms (although one would be sacrificed for a larger living room. The kitchen and bathroom are in the center of the house. Lots of built ins in all the rooms. The floors look to be in good shape. There is a weird enclosed area off the kitchen which was a porch or add on awhile back. The garage has alot of termite damage but the owners will be taking care of that. And there is an outdoor shower which is always a plus.
The second house was owned by a 98 year old woman who recently died. The house has never been updated and the inside is a redo. It also has really one bedroom although advertised as two. There is an antique oven in the kitchen that could be nice when cleaned up. This house sits on top of a hill in South Pasadena on a dead end road. Very private with only one neighbor. Amazing views. Avocado and guava trees. Very woodsy in character. The price is also 60K less then the Highland Park property. But that 60K would be used to modernize and add on to this cute little house.
Both house will appreciate when the current crisis is past. although the Highland Park house will be worth more, the South Pas house has more of an east coast character and you can feel that you are out of LA at the end of the day.
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