Home Buying in 94583>Question Details

Talidus, Home Buyer in San Ramon, CA

Investments in the east bay area for under $50,000 ? How do u get to these listings?

Asked by Talidus, San Ramon, CA Mon Oct 22, 2012

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Answers

5
IF … 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 Tue Oct 23, 2012
Great answer Carl. I think you've educated a few folks on this one.
0 votes Thank Flag Link Thu Oct 25, 2012
Hi Talidus,

Working with a Realtor who specializes in investment property in the east bay is the best way to find out about listings. Your realtor will help you determine return on investment, rental potential, find out what challenges exist for each property. These may be difficult goals to try to accomplish on your own. Hope this helps.

Best,

Mona
0 votes Thank Flag Link Mon Oct 22, 2012
Actually right now there are 11 properties in Contra Costa County under $50k... all condos. but they all have challenges of one sort or another.

Steve Curtis
Broker / Owner
DRE # 350257
Windermere
0 votes Thank Flag Link Mon Oct 22, 2012
It's either a landlocked parcel, a PRE HUD Manufactured Home or a SCAM.
0 votes Thank Flag Link Mon Oct 22, 2012
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