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Monday, July 10, 2006

Hot Cheap Property



Does "The Best Damn Sports Show Period" contributor Tomm Looney (above) know something we don't? Put aside the fact that it's rare to see any home under $5 million in the Los Angeles Times' Sunday Real Estate Hot Properties column... it's been several years since I saw any home in the region for under $500,000 -- particularly one that's 1,200 square feet:

"The Best Damn Sports Show Period's" Tomm Looney has bought a two-bedroom, two-bathroom home in Montecito Heights for $435,000. The 1,200-square-foot house, built in 1965, has hardwood floors and a backyard.

The house originally had three bedrooms, but one was turned into a dining room.

Owen Salkin and Jason Arena of Coldwell Banker, Sunset Strip, represented Looney; Art and Kristina Korvel of Sotheby's International Realty, Santa Monica, had the listing.

Yeah, it sounds pretty no-frills (when the most notable feature is "hardwood floors and a backyard") -- but still, at $435,000, he could plow another $100,000 into the house and still be at the median home price for L.A. County.

Read more about Montecito Heights here.

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