by Calculated Risk on 5/08/2008 11:00:00 PM

Peter Viles at LA Times brings us another gallery of foreclosed properties in LA.

Peter features one on his blog L.A. Land: A foreclosure bargain: The tires are free!. Check it out.

Here is another example - yeah, bars on the windows is a "family neighborhood"! Someone paid $485,000 for this home?

734 Aragon Ave., Los Angeles 90065

Agent's description: "Bank owned. This is a charming little home in a famly neighborhood. Garage was converted. SUBMIT ALL REASONABLE OFFERS."

• Sales history (from Redfin.com): Sold for $485,000 in February 2007.

• Current listing price: $294,900

• Discount from sales price: 39.2%