Property Q&A in Isleton>Question Details

Lisa, Other/Just Looking in Los Angeles, CA

I am interested in this house. Is this the correct selling price.?

Asked by Lisa, Los Angeles, CA Fri Nov 13, 2009

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This question is about this property: http://www.trulia.com/foreclosure/photos/2007312723--Delta-A…

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Hi Lisa,
I tracked this home down. Sue is correct that the $5,505 is just the back payments owing. It's in Notice of Default as of early September. I checked for comps near there. There was only one with similar square feet that sold in June for $325,000. This particular home you are asking about was bought in 2006 for $387,500.

This is one of the reasons most all realtors that answer questions on this board will tell buyers to not rely on Realtytrac for pricing information. It's fine for checking a potential foreclosure - but after that you'll need to find the comps to see if it will be listed when in foreclosure in the ballpark of the price you are looking for.
Web Reference: http://www.annaboyd.com
0 votes Thank Flag Link Sun Nov 15, 2009
I'm not sure what that posting is. Most that are confusing buyers are realtytrac postings. There is nothing that I can see to indicate what exactly this is.

Most foreclosure postings are indicating the amount that the owner is in arrears, or possibly the amount of the loan that is in default.

If you were interested in buying this, I would suggest determining what the actual address is, searching title for the owner, and contacting them for their interest in selling. But if you are just attracted to the price, my bet is that you're wasting your time. This probably isn't a posting for a 'For Sale'.
Web Reference: http://www.suearcher.com
0 votes Thank Flag Link Fri Nov 13, 2009
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