Homes & Property
Mountain Views News Saturday, November 20, 2010
13 HOMES AND PROPERTY MountainViews-News Saturday, November 20, 2010 Down a winding lane near the top of Auburn Avenue in Sierra Madre, this home is situated among many private, gated estates. Since it’s a private road, few know much about the homes on one of several spurs off Auburn’s zigs and zags up into the foothills above this charming and unique village. Not much is given away from the beginning of the driveway either. Once inside the gate, however, a spacious front lawn beckons you to this 0.47 acre, serene respite from busy LA life with a sprawling, multi-trunk oak boasting a wonderful rope swing. The main living spaces are located on the upper floor of this four bedroom, four bath home with a 3720 square feet (taped) floorplan. A shaded porch wraps around two sides of the home, perfect for sunset enjoyment. On the north side of the home, the porch also connects to a large deck with gazebo that feels almost like a tree house overlooking the yard below through the oak tree’s far-reaching branches. To the right of the front door, a magnificent great room centers around the fireplace under a cathedral ceiling with massive beamed detailing. To the left of the front entrance, a craftsman style dining room, with vintage style fixture, opens to the deck for great indoor to outdoor entertaining and relaxation. An extensive 1990’s remodel updated the kitchen, master suite and baths with quality features like slab stone, wood casement windows, front doors, skylights, dual sinks and glass block walk in shower in the stunning master bath, recessed lighting and more. Key features were preserved, thank goodness… especially the charm of the narrow board oak floors in the living and dining rooms and the exposed ceiling beams in the great room. In a home of such vintage, garage space is often at a premium, but not here. A generous three+ car garage provides ample auto storage and leads to a ground level storage/utility room. Other areas on this level are perfect for hobby or art studio use, home gym and extensive storage. Two wine cellars are located in the northeast corner of the ground level. Two connecting bedrooms on this level are served by a full bath. With an outside entrance on this level, this floorplan provides a great configuration for the privacy of extended family or live-in staff. The guest house, also built during the 1990’s remodel and construction project, feels like a tiny mountain cabin, and boasts a rock wall that extends into the full bath with walk-in shower. A large front deck provides its own “front yard” from which to enjoy filtered sunset views through the trees. 610 Auburn Avenue in Sierra Madre is listed at $1,198,000 by the Fairbanks Group and Coldwell Banker Previews International. For more information, contact John Fairbanks at 626-398-9000 or visit their website at www. TheFairbanksGroup.com. An open house will be held on Sunday, November 21st from 2-4 p.m. Know of an interesting home, garden or person to feature in “One of a Kind”? Send contact information to C.Bertrand@MtnViewsNews. com. 1926 Arts and Crafts Style Home in Sierra Madre Chris Bertrand Federal foreclosure-prevention tactics have recently been expanded to encourage delinquent borrowers to avoid foreclosure by streamlining the short sale process. Cash incentives are also being offered to the homeowners, as well as to the lenders and the buyers. Perhaps the best feature of the new legislation requires the lenders to advise the sellers what their minimum acceptable price is before listing the home for sale. Then if the sellers secure an offer for the agreed price, the lender must accept it within 10 days. This speeds up the short sale process tremendously, since the lender is also required to consult with local real estate agents in order to determine a fair price. Of course, "fair" is a relative term here, because in a short sale, the bank is agreeing to sell the property for less than the total amount due on the mortgage. However, it is definitely in the lender's best interest to expedite a short sale instead of allowing the home to foreclose, because on average, the bank loses 50% on a foreclosure, but only 30% on a short sale. These new standardized procedures, called the Home Affordable Foreclosure Alternatives Program (HAFA), is a new option for homeowners who have been unsuccessful under existing programs. If you're facing default, I strongly urge you to contact a real estate agent today to discuss the alternatives. Luther Tsinoglou has just been named the top producing sales agent in Dickson Podley Realtor's Sierra Madre office for 2009, making the top 10% at the company overall. Luther has been licensed and practicing real estate since 1992. He specializes in residential and income property in Southern California. Luther can be reached at his direct line (626) 695-8650 or at email@example.com.