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ALTISOURCE ANNOUNCES WIND DOWN AND CLOSURE OF OWNERS.COM TO INCREASE FOCUS ON CORE BUSINESSES

Luxembourg, October 8, 2019 - Altisource Portfolio Solutions S.A. ("Altisource" or the "Company") (NASDAQ: ASPS), a leading provider and marketplace for the real estate and mortgage industries, today announced that it decided to wind down and close Owners.com’s operations. The Company believes that closing Owners.com supports its simplification strategy, eliminates the cash burn associated with this earlier stage business, and increases focus on the core real estate and mortgage businesses.

"Owners.com has been making encouraging progress in demonstrating that a better consumer real estate model based on technology and service may be viable," said William B. Shepro, Altisource’s Chairman and Chief Executive Officer. Shepro further commented, "However, as we continue to work to simplify Altisource and focus on our larger opportunities, we concluded that closing Owners.com is in Altisource’s best interests given the time horizon and level of additional investments needed in order for Owners.com to operate independently. I am proud of the very talented and dedicated Owners.com team and want to thank them for their contributions."
SOLD
Sold in 75 days
12911 Admiral Ave
Marina Del Rey, CA 90066
4 Beds
4 Baths
3,100 ft2
Sold for
$2,050,000
Owners.com Estimate:
Estimated Payment:$7,991/mo

Newly constructed dream home with pool and spa in one of the most desirable areas on the Westside

Expansive open living room with home theater surround sound speakers inside and out with views to the stunning pool and spa area. Fully equipped stainless steel kitchen with farm sink, shaker style cabinet doors with concealed hinges, automatic trash/recycle bin, and a dual fuel electric oven/gas range. Dry bar area with beverage fridge and built in wine rack. Large laundry room with a laundry chute from upstairs. Luxurious bathrooms all with stone tops, custom tile and frame-less glass shower doors. Large capacity on-demand gas water heater. State of the art technology built-in through-out the house with routers, security system wired for cameras and data jacks in all rooms.

Property type
Residential
Structure
Two Story
Parking
2.0Controlled Entrance, Driveway - Concrete, Garage - Two, Garage - Attached
Price/Sqft
$686
MLS #
316001920
Lot Size
5627 sqft
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My NotesiThis is a place for you to write your thoughts and notes about this home. Only you will be able to see the notes.

My Home Features

Rooms

Bedrooms: 4 | Room Types: Dining Room, Bedroom(s) - Master, Den, 2nd Story Family Room, Atrium, Den/Office, Entry, Formal Entry, Home Theater, Living Room, Wine Cellar, Wine Tasting

Bathrooms

# of Full Bathrooms: 3
# of Quarter Bathrooms: 0
# of Half Bathrooms: 1
# of Three Quarter Bathrooms: 0

Interior

Features: Bar, Built-in(s), Chair Rail, Crown Moldings, Bar - Dry Bar, Walls - Drywall, Pre-wired for high speed Data, Hot Tub / Spa, Open Floor Plan, Lighting - Recessed, Pre-wired for surround sound, Turnkey, Cable TV, Ceiling - Fan(s)

Exterior

Features: Block Fence, Cedar Fence, Spa - In Ground, Spa - Heated, Satellite Dish, Back Yard, Fence, Fenced Yard, Front Yard, Patio - Concrete Slab, Patio - Rock, Stone, Rain Gutters | Pool: true, Waterfall, In Ground, Heated | Irrigation: Sprinkler(s) - Drip System, Sprinkler(s) - Front, Sprinkler(s) - Rear, Sprinkler(s) - Side, Sprinkler System, Sprinkler Timer

Building

Property Types: Residential, Single Family Home | Year Built: 0 | Structure: Two Story | Architecture: Arts and Crafts, Cape Cod, Craftsman | Construction: Cement Board, Combination, Hardee Plank | Roof: Shingle - Composition | Foundation: Concrete Perimeter, Permanent, Pier and Beam, Raised | Plumbing: Copper - Full | Floors: Tile - Ceramic, Wood - Hard, Marble | Windows: Bay/Bow, Double-Pane, French/Mullioned Windows, Garden Window, Screens, Skylights, Stained Glass

Garage & Parking

Parking: Controlled Entrance, Driveway - Concrete, Garage - Two, Garage - Attached, 2.0

Lot

Lot size: 0.13 acres | Lot size: 5627 sqft | Lot Features: Landscaped, Lot Shape-Rectangular, Lot-Level/Flat | Zoning: R1-1

Location

County: Los Angeles | Subdivision: Not Applicable-C12 | Real Estate Area: Marina Del Rey (C12) | MLS #: 316001920

Appliances

Appliances: Dishwasher, Freezer, Garbage Disposal, Ice Maker, Recirculated Exhaust Fan, Refrigerator, Water Line to Refrigerator, Range - Gas and Electric, Range Hood, Oven - Self-cleaning, Hot Water Circulator, Water Heater - Natural Gas, Water Heater - Tankless

Heating & Cooling

Air Conditioning: Gas Air Conditioning | Heating: Natural Gas Heat, Central Furnace, Forced Air, Zoned | Fireplaces: false

Utilities & Security

Utilities: Gutters | Sewer Service: In Street Paid | Water Source: In Street, Storage Tank(s) | Safety and Security: Carbon Monoxide Detector, Exterior Security Lights, Fire Rated Drywall, Fire Sprinklers, Prewired for alarm system, Smoke Detector

Accessibility

Accessibility: Doors 32in+

School

School District: Los Angeles Unified

Owners.com Estimated Value

We calculate the Owners.com Estimate by analyzing sales for nearby similar properties. We use the best data sources, including MLS and county records to generate insights into the property value. You can even create your own estimate by selecting comparable sold listings.

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School Information

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Local Insights

Listing provided by: Mark MacFarlane 

Listing courtesy of: MacFarlane Real Estate |  (626) 578-1948 

Tools for buyers

Data provided by: Palm Springs Regional Association of REALTORS®
Last detected update: December 26, 2018 06:51AM EST ~ Verified on November 10, 2019 06:25AM EST

Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
All information provided is deemed reliable but is not guaranteed and should be independently verified.

Note: Estimated payment calculations assume 20% down payment with loan terms of 3.86% fixed APR for 30 years.

Property is available to all persons, regardless of race, color, religion, sex, handicap, familial status, or national origin.
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