Home Buying in San Anselmo>Question Details

dgraviano, Home Buyer in Tahoe City, CA

What is the foreclosure market like in the San Anselmo area? What's the process for buying a foreclosure?

Asked by dgraviano, Tahoe City, CA Fri Feb 15, 2013

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Vance & Anna Frost’s answer
Marin foreclosures are down 41.7 % year over year as reported in the following article.

http://-www.marinij.com-www.marinij.com" target="_blank" rel="nofollow">http://www.marinij.com/ci_22435627/foreclosures-drop-marin-t…

There are still bank owned homes for sale, and they are usually offered at very reasonable prices, however the "buyer" interest in these homes is strong. Prices can be in the high $300s up to $600k. Usually they do need work, because by the time the foreclosure process in done, they have been neglected. Best of Luck in your search.
0 votes Thank Flag Link Fri Feb 15, 2013
There have been fewer foreclosures and short sales in San Anselmo than in other areas of Marin.

As for the process, most foreclosures that are not sold at the Trustee Sale held on behalf of the lender holding the loan are listed with a real estate agent after the ownership reverts back to the lender. Therefore, if you are working with an agent who is watching the market & MLS, your agent can alert you to bank owned properties (REOs) as they come on the market. Most bank owned properties will wait to review offers until 5-10 days after they are listed to allow agents & buyers to have time to look at the property before making an offer. Lenders seem to be pricing properties more realistically & competitively, which very often generates multiple offers. If you have time to wait, you might be able to get a better price with less competition looking at short sales.

Also, considering other areas of Marin would definitely open up more choices.

Let us know if we can be of any further assistance.
0 votes Thank Flag Link Fri Feb 15, 2013
The amount of possible foreclosed/short sale homes has decreased dramatically in the last 6-12 months. It's hard to "target" a distressed property, unless you have cash and can purchase it at the court house steps at foreclosure. (usually for experienced investors). Otherwise, homes that come on the market as short sale or as bank owned will become listed on MLS like any other non-distressed home.

I have a lot of clients that purchase homes from Tahoe area (I have a home in Truckee ), I would be more than happy to walk you through the process via phone if you would like.

Liz McCarthy
415-250-4929
Liz@BayAreaRealEstateSales.com
http://www.BayAreaRealEstateSales.com

A great place to search for homes is on CleanOffer.com

http://mcguire.cleanoffer.com/client/registration/registerCl…

it is linked directly to our MLS and is updated within approx 30 minutes of a new home being listed. Multiple offers have become the norm here in Marin sadly so you do have to know of homes as soon as they hit the market. Similar to the tahoe market, we have a serious lack of inventory and it is definitely a sellers market at the moment.
0 votes Thank Flag Link Fri Feb 15, 2013
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