Foreclosure in 94547>Question Details

Karen, Home Buyer in 94547

How do I find foreclosures in Pinole or Hercules?

Asked by Karen, 94547 Tue Jun 9, 2009

I'm a qualified buyer and looking for an investment property. Thanks!

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4
Start off at sites such as Trulia to begin your research. Get an idea of the area and where you would like to purchase. Once you have that, contact a local agent who could help you with specific homes, put you on daily e-mail alerts and can give you comparable sales. Good luck
0 votes Thank Flag Link Wed Dec 1, 2010
I am seeking an investor to buy my property in Hercules. It would probably go for $300K or less at short sale. It is a beautifully maintained 3 BDRM 2-1/2 Bath home. I am hoping to find someone who wants to buy at short sale for great price and enjoy immediate rental income by renting back to me. I am motivated to rent and commit to 2-3 year lease to avoid disruption to school attendance for my children. No maintenance or remodel expense for you, no moving expense for me. A win-win! Quiet location in Hercules. You will never have a problem renting this beautiful townhome in most desirable school location. My broker is Oscar 209/609-6322 if you are interested in seeing it.
0 votes Thank Flag Link Mon Jul 13, 2009
First Step is to determine, what type of property you are looking for. An example of Investment Property would a vacant lot that appreciates over time, and then you elect to build or sell to a developer for a much greater price originally paid. Income property is "Income" producing, an example would be a duplex, triplex or even a single family home, your tenant pays you a monthly rent.
If I were considering the purchase of an investment property, I would select an agent that is intimate and very knowledgeable with Hercules and Pinole. I would also look for an agent that specialized in the BANK OWNED Market, an agent that is internet savvy-to keep me posted of any new inventory that might suit my needs, has access to the properties, knows how to prepare a BANK OWNED Contract (they are different), and is aware of what the bank requires from the buyer prior to considering the offer. FYI--98% of the homes that are being sold are BANK OWNED, that being said, do your homework.

In the West Contra County Market there are several REALTORS that are offering BANK OWNED HOME TOURS; they don't require that you buy from them; however they do require that you be APPROVED for the purchase. Our office offers Daily Bank Owned Home Tours, our bus leaves the Hercules Office at 10 AM, we ONLY view BANK OWNED Properties, and on the average we view 4-7 Homes/Condos, the tour last 75 minutes. We have interior access to every home that we view. The Bank Owned Homes that are toured, are pre-selected based on the interest of the passengers, YUP a custom tour! We tour daily and on Weekends. Investor type properties are toured on Wednesdays.

All the Bank Owned Transactions I have experienced are sold in "AS IS CONDITION" Banks are not willing to make any repairs to the property; however they are willing to adjust the price if the condition of a large ticket item were in questions. I can provide you with a weekly list of all BANK OWNED Homes in the Hercules, Rodeo, Pinole & San Pablo, via EMAIL!

Best of Luck to you in your home search, I do hope that I addressed your question.

Viktor Manrique, Hercules Realtor
0 votes Thank Flag Link Wed Jun 10, 2009
Karen, I thinking that since you are looking to invest that maybe you might be doing comparables with other close by areas ect.. Here's a few things if you're not familiar with that might help.

Rental Comparables.... http://www.zilpy.com/US/California/Contra_Costa_County/Pinol…
http://www.zilpy.com/US/California/Contra_Costa_County/Hercu…

Tax Sales ... http://www.sco.ca.gov/ardtax_public_auction.html
http://www.co.contra-costa.ca.us/index.aspx?NID=586

Market info for Bay Area/ ... Check this out closely if you haven't seen it before, Lot's of Info.
http://www.sfgate.com/data/
http://www.dqnews.com/Charts/Monthly-Charts/SF-Chronicle-Cha…

You might like to browse through the Bank/Gov. (REO/Foreclosure sites) property info and bid/purchase info. Sites like these... http://www.wamuproperties.com/ ... http://www.pasreo.com/pasreo/public/propertySearch.do ... http://www.homesales.gov/homesales/mainAction.do

You can find the links to all the Bank/Gov sites and more here... http://www.mortgagenewsdaily.com/wiki/REO_Database_List.asp ... http://www.biggerpockets.com/bank-reo.html

Good hunting, Dunes
0 votes Thank Flag Link Tue Jun 9, 2009
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