Located near the intersection of Franklin and Talmadge in Los Feliz (1865 Talmadge, to be exact), this four bedroom/2 bath is beautiful inside. New kitchen, spacious dining room, large master suite. Whoever flipped the home did a great job.
Zillow says the home is worth $1,091,637.
The home is being offered for $869,900.
Even last year at this time, I think it would have sold quickly. It's Los Feliz, afterall. Yet here it is, September 2006, and this home isn't getting any bites.
And apparently the seller is getting so desperate that they've hung this gaudy banner on the front. "Seller Will Pay 6 Mos. of Mortgage Payments," it reads (in case you can't make it out, or the picture isn't popping up).
Doing the math, that's a chunk of change: According to this L.A. Times mortgage calculator, if you put down 20% on the purchase and secure a 6.125% loan, that's still a monthly $5,286 mortgage. Over six months, that's $31,716.
Clearly they want this home sold, now. But will anyone still go for it?
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