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Short Sale In Little Holmby - 661 Warner Ave

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Short Sale In Little Holmby

The Little Holmby Southern Colonial at 661 Warner Ave., LA CA 90024, received a price reduction last week of 19.8% or $395,000, down to $1,600,000. The property was listed back on 6/12/08 for $1,995,000 and has a running total of 255 days on the market. However, in the properties defense, there has been a tenant living in the property with a lease ending June 2009. This has made the property virtually unsalable. So in this rare case, we shouldn't hold too much weight on the days on market total. The home is not remodeled inside and is being advertised as a remodel opportunity. According to the MLS, the home is a 5 bedrooms / 3.5 bath, 2,461 sq ft home on a 7,405 sq ft lot. And as stated in the title, the home is a short sale and requires bank approval. This new asking price should elicit multiple offers, especially with the tenant's departure nearing.