Home Buying in Fullerton>Question Details

Oddvision, Home Buyer in

How to find foreclosures?

Asked by Oddvision, Tue Apr 30, 2013

Can an agent help you find foreclosed homes? Listings on Trulia from RealtyTrak show foreclosures that could fit our needs. I haven't seen any way to get details on those without paying for Realty Trak.

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Answers

8
Hello There,

-Yes, I am a seasoned agent who can help you and have the programs to find out foreclosures

-Yes, if you wanted more information you would have to pay for Realty Trac if you wanted to. This will tell you who missd a payment. These properties do not always go to auction..

-Foreclosures to be bought at auction - you would need all cash
-Yes, I work with investors who need to qualify for paying all cash for a foreclo
sure. There arent that many that are being foreclosed on these days. Banks are working with homeo\wners now....

-You would bid on a property that you may have no idea what the inside of the property is like. It is a risk you may or may not want to take..

Talk to you soon

Ingrid SKi Realtor
949-874-0432
OCAreaHomes@gmail.com
0 votes Thank Flag Link Tue Apr 30, 2013
The amounts you see in Realty Trac are not the prices you can purchase the property for. The amounts usually represent how much the owner is behind in their payment. Most of these properties are not for sale and may not be in the near future.
Good luck,
0 votes Thank Flag Link Tue Apr 30, 2013
My comments are similar to Ron's below. My first question is why you want a foreclosure? The market for these is long gone. Those that do make it to he MLS receive dozens of offers and sell for top dollar.

There is no need to pay Realty Trac. There some foreclosures on the mls. Ask a seasoned Realtor in your area to assist you.

Good luck.
0 votes Thank Flag Link Tue Apr 30, 2013
Thanks for all the responses! I'm primarily looking at the extremely low inventory in my area, and while the prices I've seen for foreclosures haven't been any lower than standard sales, I'm just hoping to find a home. I'd love to buy a foreclosure and fix it up myself, but the only ones I've seen have all been purchased/ fixed by an investment company and then resold at a higher price. We have a fairly good budget so it's very frustrating that we don't have any more options on the market. Obviously we'll be waiting until there are more listings - we won't buy a home we don't love - but I thought we might have more to consider if we look for homes we could fix up ourselves...
Flag Tue Apr 30, 2013
Hello Oddvision, The answer is yes in two ways. An real estate agent can provide you listings to foreclosures, daily, which have come on the market for sale in your targeted area. The agent can also provide you a list of the most recent bank owned properties, taken back at the Trustee Sale, and any homes which are in Notice of Default if you are looking to see what potential properties may catch you attention.

As you have discovered most of the services out there will tease you with having listings associated as a foreclosure only to discover you must pay for the service. Also note that distressed property figures have been on the decline since last year so the numbers are not as great.

So find yourself a good agent who has not only access to the MLS but to services such as ForeclosureRadar.com who can offer you this data. I am one of those agents and I would be more then happy to be interviewed by you should you need assistance. Good luck!
0 votes Thank Flag Link Tue Apr 30, 2013
Buyers often ask me about foreclosures. I usually caution them that many foreclosures are hardly bargains today. As an example, I recently did the math for some homes sold in a neighborhood where I had a listing. The two bank-owned properties actually sold for the two highest prices on a square footage basis out of 11 homes I looked at. There was nothing particularly special about these two homes. My point: in this changing market, buyers sometimes believe they are getting bargains where they are not. I usually suggest buyers think less in terms of foreclosures and more in terms of finding the best deals. The two do not always equate.

Kind regards,
Ron Rovtar
Info@rovtar.com
http://www.rovtar.com
0 votes Thank Flag Link Tue Apr 30, 2013
You can find foreclosures lots of ways. If you have large sums of cash you can buy at auction or through bull sales with banks. If you're a traditional buyer, you'll have to wait until the property hits the market. Realtytrac shows properties where people have missed a payment. In almost all cases now, those properties will not be a foreclosure, rather a short sale or refinance. In all situations the home will sell for at or very near market value. Unfortunately, a property at market value is a deal.

Best of luck.
0 votes Thank Flag Link Tue Apr 30, 2013
Yes, an agent can help you locate foreclosures. They amount of foreclosures has declined. Standard Sales are the majority of the home sales at this time.

Rochelle Chacon
Keller Williams Realty
949 533-1262
0 votes Thank Flag Link Tue Apr 30, 2013
Realty Trac provides house that "may" go into foreclosure, have Lis Pendens, etc. Often times the owner can refinance or remediate the Loan & will never appear on the market. Realty Trac is a paid service and not that accurate in my opinion.
0 votes Thank Flag Link Tue Apr 30, 2013
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