Home Buying in Encino>Question Details

Gizmo, Home Buyer in 91316

i HEARD THER WILL BE MORE REO OUT IN THE MARKET THIS YEAR. I ONLY SEE SHORT SALES. LOOKING IN ENCINO CA FOR 2BD 2BA 100.000 TO 190,000.

Asked by Gizmo, 91316 Sun Sep 13, 2009

CONDO WITH LOW HOAS IN A DECENT AREA TO RENT TO MY DAUGHTER

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2
Jodie Francisco’s answer
Hi gizmo,

There will be more REO's out, but there are plenty out there now as well. The reason you probably aren't seeing that many is that in this price range, there are many more buyers than there are properties. Almost everything in this price range is going out within a few days of being on the market and usually with multiple offers. You'll want to check the health of the building's association as some of the condo's that have had a lot of REO's and short sales may not have a healthy balance sheet (reserves and funding). Are you working with an agent? If not, it would be a good idea to have an agent work with you rather than trying to call the listing agent directly. Many of the REO listing agents are overwhelmed by the number of listings they have as well as the multiple offers coming in and they may not get back to you. Find a good agent and be prepared to keep submitting offers...you'll get something. Feel free to contact me if you would like more information.

Best regards,

Jodie
1 vote Thank Flag Link Sun Sep 13, 2009
You are right, there are many short sales in the market. But there are REOs too. Maybe you can expand your search to Tarzana and/or Woodland Hills. Let me know if I can help in any way.
Liliana Alfonso
818-414-0396
0 votes Thank Flag Link Sun Sep 13, 2009
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