Home Selling in 94403>Question Details

Jay, Home Buyer in San Mateo, CA

What's with the recently sold prices?

Asked by Jay, San Mateo, CA Wed Apr 8, 2009

Hello, I'm looking at some recently sold homes in my area here on Trulia and the prices are just not realistic, does anyone know what the story is on these? Are these auctions or short sales that only list the second mortgage as the sales price? Here is an example..
http://www.trulia.com/homes/California/Redwood_City/sold/270…

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Jay:

You know the old adage ... "If it's too good to be true ..."

These are notices of foreclosure sales. Read the following link for clarity:

http://www.trulia.com/blog/carl_medford/2008/12/when_is_the_…
Web Reference: http://www.carlmedford.com
0 votes Thank Flag Link Wed Apr 8, 2009
Jay:

Thanks! And yes ... we've answered this question more than once before! :)

This is a great forum for getting answers - don't hesitate to ask.
Web Reference: http://www.carlmedford.com
0 votes Thank Flag Link Wed Apr 8, 2009
It was a good question Jay, better to ask and find out for sure than let a good deal slip by. Glen
0 votes Thank Flag Link Wed Apr 8, 2009
Thanks for the responses everyone. Sorry to revisit what appears to be a sore subject around here, I was just curious why the prices were so obviously skewed. Great info on your post Carl, thanks again.
0 votes Thank Flag Link Wed Apr 8, 2009
Hey Jay, from experience I think the best thing to do when looking up comps of past sales is to get the information directly from the MLS.

Realty Trac isn't realiable, or should I say many consumers confuse the fact of what a foreclosure sale is and what a notice of default is.

You may get lucky, but most of the time I think you will get teased.

If you need comps to a particular property, shoot me an email I will be more than happy to look it up for you.

Take care,

Dave Tap Tapper
Realtor
Cashin Company
http://www.DavidTapper.com
650-403-6252
Redt4u@aol.com
Web Reference: http://www.TeamTapper.com
0 votes Thank Flag Link Wed Apr 8, 2009
Oh yea, I picked that one up as a little investment property. Hoped I wasn't paying too much.... Not really most likely that was a second loan amount and lender forclosed and that was the price that was recorded. I show the last sold price a few years back at $1,270,000, but that system doesn't get updated immediately.

Glen
Web Reference: http://www.maui4rent.com
0 votes Thank Flag Link Wed Apr 8, 2009
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