My Real Estate Experiences

With all the complaints about the housing market these days, it is a rarity that someone says “ Real Estate has been really good to me”.  I have three properties -  Larkspur Lane, Villa Lafayette and an office building on 40th Place.  My own office is here and I rent two other offices to other mental health professionals.  

I bought the Larkspur Lane home in 1978 and lived there for six years.  It is Mid-Century Modern design by a famous architect, Ralph Haver. (Who new?) Haver homes are becoming very sought after.  In the last few years, the property has had new tile, kitchen countertops and appliances, and a new HVAC unit; the bathrooms have been completely remodeled and of course there is new carpeting.  The high ceilings are characteristic of the Haver design.  It will always look modern and spacious.  There have been seven other tenants in the last thirty years.  One day I will rip out the carpet and tile and leave it just as it once was – bare polished concrete to reflect light from the floor to ceiling windows.  

The Lafayette Villa Condo belonged to my mother who lived there for ten years; nursing home income was a priority and the market was bad, so I took out a mortgage and she used the money.  The kitchen, all the flooring and both bathrooms have been completely remodeled since she moved out.  It looks bright, clean and very modern.  

In 1999 I saw a three bedroom house on the corner of Indian School Rd and 40th Place.  It had been zoned for non-retail or office use (R-5).  The previous owner ran out of money. The front yard had 18 (I kid you not) palm trees in it, the back yard was a trash heap and it was completely destroyed inside. (If you lived in Arcadia before 1999 you might remember the turquoise fence. It actually was a crack house for awhile.)  This solid structure, however, had lathe and plaster interior walls which were 8 inches thick. How nice for a psychologists office.  There was a well kept intact brick exterior, lots of style, and really good “bones”.   Once it was truly a neighborhood eyesore.  My neighbors appreciated the remodel.  In 2010 a pipe broke at the office resulting in an interior remodel that was fast and furious, but brought a much needed style change to the décor.   

So here we are.  I never thought about being a real estate maven or a “land baron”.  I have been blessed by wonderful tenants who have been long time renters and many have become good friends.  I am in this for the long run, I don’t see any repossession or short sales in my future.  I hope to meet you soon.