Foreclosure in Newark>Question Details

Angela Xu, Home Buyer in Fremont, CA

$115,000 Joaquin Murieta Avenue, Newark CA 94560 Is it still on sale? What is the HOA fee?

Asked by Angela Xu, Fremont, CA Sat Oct 27, 2012

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This question was asked from this property: http://www.trulia.com/foreclosure/3091500767--Joaquin-Muriet…

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The link that you provided is to a posting by RealtyTrac that is really a come-on to get you to sign up for their subscription reporting service. RealtyTrac is not a real estate company. RealtyTrac does not sell houses. RealtyTrac is a reporting service. They take information from public records about foreclosures, notices of default, lis pendens and other such filings and report them to their subscribers. Information from RealtyTrac can have value for those who understand what they are getting and how to use the information but RealtyTrac postings on Trulia.com are abbreviated versions and are misunderstood by many who think the postings are showing properties that are for sale at very low prices.

For information on how to buy a bank owned property, check with a local Realtor who can explain the process and give you valuable assistance.
1 vote Thank Flag Link Sat Oct 27, 2012
Sorry … if the listing has the logo for RealtyTrac ...

Then what you are seeing is NOT an actual listing … it is an advertisement for RealtyTrac.

RealtyTrac is a provider of data for distressed homes. This data is used by investors and Realtors to track distressed homes. When you see the RealtyTrac logo, you are not looking at a home that is actually available for you to buy: what you are seeing at is either (1) the notice of default for one of the mortgages on the property in question, (2) a notice of an impending trustee sale or (3) a notice of a completed trustee sale.

RealtyTrac notices can be very deceptive because they usually give loan amounts, not the purchase price or fair market value. When and if this particular property hits the market, it will be at market price for the neighborhood.

Bottom line: RealtyTrac is trying to get you to sign up for their service.

The following links may be helpful:

When Is The Price Not The Price?
http://bit.ly/p11iq

It’s Too Good To Be True: REALLY – Top 4 Buyer Myths
http://bit.ly/4PKTHT

If you want to know when these or similar properties will actually hit the market, have a Realtor set you up with an auto-feed that will alert you the moment they become active on the MLS.
1 vote Thank Flag Link Sat Oct 27, 2012
I don't know if you got an answer to this question or not but there is no property in Newark for anywhere near that price anymore.
0 votes Thank Flag Link Fri Feb 1, 2013
Hi Angela,

Carl and John are correct - the property may be in default but this is an ad to sell you a list of properties.

Brian
0 votes Thank Flag Link Sun Oct 28, 2012
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