Home Buying in Sacramento>Question Details

Fred.peacock, Home Buyer in Elk Grove, CA

Is it possible to get a list of for closures in Elk Grove and south sacramento...my email is barquetrecords@yahoo.com,

Asked by Fred.peacock, Elk Grove, CA Sun Apr 27, 2014

Price not to exceed $110,000

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5
I don’t think foreclosures (REO’s) are for everyone. It takes a special kind of Buyer to have the patience and the stomach for these types of purchases.


• Someone else's headache. Do you really want to walk in the door to someone else's repairs and deferred maintenance? YOU will have to pay to fix it up! Do you have the tolerance for that?

• Professional Investors. Cash investors can close FAST (3-10 days). And there are lots of cash investors competing against you!

• Difficult to Finance. Banks don’t want to lend you money to buy a home that isn’t habitable! Yes, there are special programs to assist you with renovation money, but those are more difficult to qualify for.

If you don’t have the tolerance for Foreclosures or Short Sales here’s my advice:

There are plenty of motivated Sellers with their homes listed on your local MLS. Go find a good Local Mortgage Banker, get prequalified, then find a great, experienced Realtor, and buy the home you want at the price you're willing to pay.

Trevor Curran
NMLS #40140

*If you thought my answer was helpful, please give me a “Thumbs Up” or “Best Answer.” Thanks!
1 vote Thank Flag Link Mon May 19, 2014
Although foreclosures and short sales and down they are still out there and yes you can get a list sent to you. However, traditional sales are very competitive with bank owned properties as well. If you don't already have the information being sent to you contact me and I will set you up with a account that will send them directly to you as soon as they come on the market. kimsellsre4u@gmail.com
0 votes Thank Flag Link Sun May 18, 2014
Just curious if you were still in a possible foreclosure in Elk Grove. We are looking for a FHA buyer of investor looking to buy just slightly under market value. If you have any interest please reply to me directly please.

Thank you,
0 votes Thank Flag Link Tue May 13, 2014
You are going to run into 2 issues:

1. Homes in Elk Grove start around $200k so South Sacramento would be your best option if you're looking for under $110k.

2. Only ~7% of all home sales in Sacramento County are from foreclosures. There is a common myth that foreclosures sell for far less than they are worth. The reality is that most sell at current market value just like a regular sale.
0 votes Thank Flag Link Tue May 6, 2014
Yes, it's possible. There are several sources available if you're willing to do the work. Otherwise, there are fee-based services available that can provide such lists.

However, keep in mind that just because a property is a foreclosure doesn't mean it's available to buy.
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Mon Apr 28, 2014
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