Foreclosure in Alameda>Question Details

Linda, Home Buyer in 94501

1435 5th Street, Alameda CA 94501 -Sold for $39,000 on Nov 16th, 2007 7 br 4 ba 3,014 sqft

Asked by Linda, 94501 Fri Jan 11, 2008

Help me understand how this is possible? ...and 1600 Central Avenue Sold for $100,000 on Sep 25th, 2007 5 br 2 ba 3,002 sqft Multi-Family Home

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Answers

7
Central I believe was also a family transaction, In Alameda there are no deals, buyers are able to negotiate prices but the prices in Alameda have always held their values for the most part! We are again seeing some multiple offers on properties!
0 votes Thank Flag Link Sat Feb 2, 2008
This property is a 4 plex and was a non-arms length transacton between relatives.
0 votes Thank Flag Link Thu Jan 31, 2008
It is my understanding this was not a pre-forclosure property and was a "NON-ARMS LENGTH TRANSACTION" and between two relatives.
0 votes Thank Flag Link Sat Jan 12, 2008
Pam Winterba…, Real Estate Pro in San Ramon, CA
MVP'08
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This is a pre-foreclosed sale. The amount might be the loan amount owed by the owner. Mostly they just stated the amount of the first loan paid on the ads to attract buyers. You need to do some more research to know more about the buying foreclosures. You can request information on my website at http://www.AnnieFreeHomeReports.com
0 votes Thank Flag Link Sat Jan 12, 2008
It may be that these are a non-arm's lenght transaction which means that the seller and buyer know each other and are selling the property not based on current values. Often times you see this when one family member sells a property to another family member.
0 votes Thank Flag Link Sat Jan 12, 2008
Maybe those are repossessed properties and the prices are the amount owed to the bank at the time of repossession?
0 votes Thank Flag Link Fri Jan 11, 2008
It could be property being sold between family members. Just a hunch.
0 votes Thank Flag Link Fri Jan 11, 2008
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