It could be anywhere from zero or more. Seriously, you did not give enough information to answer your question. It was not linked to any specific property.
Foreclosure homes are not the bargain they appear to be. If you are looking at Foreclosure Radar, Realty Trac or the like, these are sights designed to gather information to sell you a service or sell your information for a gain. Please keep that in mind.
There are Short Sales, Bank Owned, and Foreclosures. A real foreclosure is when the owner has defaulted on their debt and THAT debt is foreclosing. It doesn’t necessarily remove any superior liens over the subordinate lien. What that means if you go to the court house with your required cashier’s check you could be purchasing the foreclosed debt, along with the first, property taxes, contractor liens or any other combination of problems.
So I highly caution all buyers that that route is only designed for those with a lot of knowledge, resources, and are ok with the potential risk to liability, financially solid investors.... more
I would love to assist you with this. I do not show a current listing in the regional MLS. The most recent one that sold was at 3019. If this is the one you are referring to, it closed escrow on 8/2/2013 for 448,000.00. If not, it is possible that the one you are looking at is either for rent or is coming soon. Which website did you find this listing on? Occasionally, there is a listing for an out of area agent that is not marketing the home in the right Multiple Listing Service. Let me know if you need to track it down further- just need the house number - Call Me 916-239-9182... more
I know I'm answering this question really late, but I wanted to give some feedback as an agent working in Davis. Yes there does appear to be more homes in Davis receiving notice of defaults but the number that goes to foreclosure still remains relatively low. Short sale may be a viable option but there are not as many home owners in Davis who bought at the peak of the market who have gotten themselves into financial difficulty. The relative shortage of inventory in Davis also keeps home prices high because there tends to be more demand for homes here than what typically is for sale at any one time. It is a good problem if you already own a house in Davis but can be frustrating for buyers.
In a short sale a buyer submits an offer to the seller who then sends the offer (or offers) to their lender for approval. The short sale seller still considers and accepts or rejects the offer but does not have the ability to complete the sale without their lender approving the sale because the lender is going to be accepting less money than what they are owed.
I have a page dedicated to foreclosure listings in Davis and another that shows only short sales. These pages have stats data that is updated once a month that tracks just foreclosure or short sale activity.... more