Home Buying in 93060>Question Details

C.m., Home Buyer in Santa Paula, CA

I saw 2 listings on Realty Trac and never saw them listed and now they are sold. How does that happen?

Asked by C.m., Santa Paula, CA Fri Apr 17, 2009

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Realty Trac does not list or sell homes. They track public notices for home sin foreclosure and print enough info to get you interested but leaves out enough for you to want to pay for their services which you can look up for free on your own. many home sin the foreclosure process are not for sale, they cant be sold, they owe too much, they dont want to sell or want to save their home.
1 vote Thank Flag Link Sun Aug 17, 2014
Very good answer!
Flag Sun Aug 17, 2014
Trulia picks up this data thru Reatly Trac which displays homes that may have missed payments and are in default. The best way to find your next home is to use a qualified Realtor. Contact me if interested.

Matt Polaski
Keller Williams Realty
805-760-4564
0 votes Thank Flag Link Wed Aug 20, 2014
Realty Trac is not the same as the MLS and sometimes these homes never hit the market. They are often distressed home owners that may have caught up on their payments! Lot's of things happen. Don't trust Realty Trac!

Lisa Wetzel and Jim Valentine

Certified Distressed Property Expert, CDPE
RE/MAX Realty Affiliates
1320 Hwy 395
Gardnerville, NV 89410
775-781-5472 Lisa
775-781-3704 Jim
775-781-3703 Jessie
http://www.carsonvalleyland.com
http://www.experienceispriceless.blogspot.com
carsonvalleyland@hotmail.com
0 votes Thank Flag Link Sun Aug 17, 2014
Call Realty Trac and discuss with them.
0 votes Thank Flag Link Sun Aug 17, 2014
Trulia uses a 3rd party company Realty Trac which will show homes in possible foreclosure. These homes may never hit the market. contact me if you would like to view homes that are currently available.

Matt Polaski
Keller Williams Realty
805-760-4564
0 votes Thank Flag Link Sun Aug 17, 2014
C.M.

They are not "Listings", it's just data about the status of the loan or other liens. If the loan has defaulted or a notice of sale has been recorded then it shows on Realty Tract. The amount of the public record has no correlation with the Market Value, perceived value or any other value other than what the lien holder is claiming against the property.

If the Market Value of the property in question is fro example $400k then that property is going to end up on the open market at some point before it get's given away for $200k.
Web Reference: http://www.homebuysblog.com
0 votes Thank Flag Link Sat Apr 18, 2009
The addresses are 1319 Ojai Rd, sold for $195,500 and the other is 1159 Bedford sold for $194,900. I search daily for all listings under $200,000 on this site and others. I saw homes on Realty Trac listed with these streets, same description and foreclosure price. This is why I'm confused. Hope these details help with my question.
0 votes Thank Flag Link Sat Apr 18, 2009
C.M.

Are you sure the properties sold? Realty Trac is a data farming company, they do not have listings. They are not a broker or a Real Estate agent. The form partnerships with Real Estate Agents. Bonnie has a relationship with Realty Trac.

What you see on Realty Trac has nothing to do homes for sale or listings. The values or amounts or any money figure that Realty Trac shows on those properties has to do with the liens owed against the properties, it is not a Selling or Asking price.
Web Reference: http://www.homebuysblog.com
0 votes Thank Flag Link Sat Apr 18, 2009
Hi CM, I think I recognize you from other posts.

The other Realtors are correct. RealtyTrac is a reporting service, the largest foreclosure web site in the nation. I have been representing RealtyTrac for over years in East Ventura County. These homes often become REO's that the bank will resell.

Having done this for a while, there are very rare occassions where a bank will sell prior to marketing the property to the public. They want the most money possible, like any other seller. I recommend that my clients set their criteria and their price range and look at everything in it, foreclosures, preforeclosures and regular sales. You never know who the most motivated seller is going to be.

Please contact me if I can be of more assistance to you. Take care,
0 votes Thank Flag Link Fri Apr 17, 2009
C.m., it's quite possible that the bank trustee purchased the property and is preparing it for sale as an REO.

RealtyTrac is not a listing service, they supply public record info to tease you into paying for more information that's really not that useful as most foreclosures are listed on the Realtor MLS sites - at market value, not the low price shown by RealtyTrac, which is nothing more than the amount(s) in default.

Best, Steve
0 votes Thank Flag Link Fri Apr 17, 2009
Hi, My name is Emily @ A Plus Properties, in the Northern California Bay Area. Just to answer your questions, I believe Realty Trac is an advisory, in regards to homes that are about to go into foreclosure. The homes listed their are not necessarily also on the MLS service, although some do get listed on the MLS. It is possible that the owners themselves cured the default or that an investor or buyer negotiated with the seller directly.

Emily
A Plus Properties
http://www.findyourdreamhome.com
510-861-7057
0 votes Thank Flag Link Fri Apr 17, 2009
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