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Price Chop -- Short Sale Appears In Westwood Hills

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Short sale and Westwood don't typically appear in the same sentence these days. But it seems we have a short sale happening in the Westwood Hills area at 355 S Thurston Ave, LA CA 90049. The house is a Tudor 3 +2, 1,691 sq ft home on a 6,900 sq ft lot. It was previously listed on 1/24/08 at $1,550,000. One month later the house had a price reduction of just 3.87%. Today the house had a dramatic price reduction of 19.35% off the original list price with an added remark that the house was a short sale and subject to lenders approval. According to public records the house was last purchased on 5/10/07 for $1,295,000. If a short sale was to happen in Westwood, this would be one of the streets where it could possibly happen. This particular house backs up to Sepulveda and the 405 freeway. Not many would consider that a highly desirable feature. However, the neighorhood is excellent and for anyone really wanting to get into the north of Wilshire school district, this is a good opportunity to do so for a great price.