Foreclosure in 90404>Question Details

Renato, Home Buyer in Santa Monica, CA

Has anyone had any luck getting lists of foreclosed homes inthe westside, including Santa Monica, Westwood,

Asked by Renato, Santa Monica, CA Tue Apr 8, 2008

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yes, but you have to pay to subscribe to a foreclosure list which has any value. is the one i subscribe to. many agents will be eager to work with you, but that means their commission must be paid too. and beware the inherent conflict of interest, as they don't get paid unless you buy. and times are tough. so if you are trolling for foreclosures, do your homework first.

many properties are bypassing the foreclosure trustee sale and being sold by banks as 'short sales'. the reason is that property values are less than the amount of money owed, and banks know that no one will bid at the trustee sale. plus the homeowner will cooperate, as he wiil avoid getting a judgement on his record.

sometimes props on the MLS are advertised as short sales. often, they are not--but you can research on the web and find out what the last sale amount was to determine the actual status. and like all other sales in this market, if it is a short sale, you needn't pay the asking price. subscribing to the foreclosure lists tells you the amount of money owed on the property and to whom. this gives you an idea of what offer might be accepted.

don't get involved in buying actual foreclosures without spending time to study the process seriously. and regarding any prop purchase, do your research--knowledge is power--even more so in this market. don't believe what anyone in the real estate industry says. like anything else, if you want to make or save money in real estate, you need to bone up. you are dining with tigers. good luck!
1 vote Thank Flag Link Mon Jul 7, 2008 is pretty good for keeping up-to-date with most recent Lis Pens and forelcosures.
1 vote Thank Flag Link Sat Apr 12, 2008
There really aren't all that many listings for foreclosures in SM.... and those that are decent deals get scooped up by those that see them first, like appraisers, real estate agents, and inside investors.
1 vote Thank Flag Link Tue Apr 8, 2008
Sure, I can provide you with a list of bank owned foreclosed homes in Santa Monica. Feel Free to call me directly or email me.

Heather Paul
Coldwell Banker
0 votes Thank Flag Link Thu Aug 19, 2010
Thank you for your question. Lists of REO's are available from many different sources. They are out there you just have to find them. Whenever a home is 'foreclosed' it becomes a bank owned or REO home and the deed is recorded, therefore, the county recorder has the master list. Banks sometimes allow customers to search their websites, however, the search features are difficult by design and their terms of service do not allow the lists to be resold or advertised.

I can provide you a comprehensive list, partially from court records, REO Advertising and Other sources if you are interested in my representation. Feel free to contact me by e-mail.
0 votes Thank Flag Link Tue Jul 20, 2010
Hi Renato,

I just downloaded this application called Complete Foreclosures for my iPhone. It is great and I use it all the time for my investment clients.

It gives you a list + pictures of all the foreclosures on the Westside. The application was also featured in the Wall Street Journal.

Let me know if you would like some more information on foreclosures on the Westside. I would be happy to help you out.

0 votes Thank Flag Link Tue Jul 20, 2010
I would get with an agent that specializes in the area your looking to find the foreclosures. That way you don't pay for the list of forclosures. The agent you choose should be able to provide you with forclosure properties and solid advise on what are good buys and what are not. Forclosures are much more than meets-the-eye! Good luck!
0 votes Thank Flag Link Tue Nov 11, 2008
As you can see getting a list is easy. However Lucas is right, finding an good opportunity is a much different story. Make sure you have talked at length with a real estate agent who truly understands how foreclosures work. For the most part they are not the opportunities most people think they are especialy on the West Side of LA or the South Bay. I would be happy to clearify for you if you would like to call me.

Stewart Fournier
0 votes Thank Flag Link Sun Apr 13, 2008
I currently work with the top foreclosure agent in California. We currently have over 400 listings in my office alone-Coldwell Banker; Beverly Hills North. Many of these properties are in West Los Angeles etc. I can send you a current list of all foreclosure's in your desired area. Contact me by phone or email, and I will gladly send you the lsit, no obligations. 310.746.8444 - foreclosure
0 votes Thank Flag Link Sun Apr 13, 2008
Hi Renato,
We work with foreclosures all around the city of Los Angeles. We have access to many foreclosures/pre foreclosures as they become available. Our website includes a free list of new weekly foreclosures, sorted by zip code, update every Monday. Feel free to check it out on a weekly basis,… , you can also send us an email with the areas you are looking for, the price range, and the specifics (2 bed, condo, etc..) and we can elp you find it.
Good Luck to you
Lou & Alex
LA Real Estate Group
0 votes Thank Flag Link Wed Apr 9, 2008
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