Property Q&A in Piedmont>Question Details

stephieander…, Home Buyer in Piedmont, CA

Is this home in the City of Piedmont? If yes I'd like to see it!

Asked by stephieanderson, Piedmont, CA Mon May 28, 2012

This question is about this property:…

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Hey Stephie,

Upon further investigation of the title report of the property in question, I have discovered that a notice of rescission was filed about a week after the notice of default was filed. This basically means the bank screwed up in some way and had to cancel the notice of default. This makes sense given that the home recently sold (a day before the notice of default was filed) for 1.55 million dollars. The down payment indicates that there is substantially more than 150K still owed, which would also make sense unless the buyer was able to submit more than 1.4 million dollars as a down payment (not likely). Long story short, the owners of this property are likely not yet in a position that would require them to sell. I'll let you know if there is an update in the property's status that is not reflected in any of the consumer-accessible foreclosure lists that you might subscribe to or that may be sent to you for free from a realtor. Talk soon. Let me know if you have any questions.
1 vote Thank Flag Link Mon May 28, 2012
Good detective work!
Flag Mon Jun 11, 2012
Yes, it is in Piedmont. The home will be open today between 2-5. I am the listing agen and will be available to answer your questions.
0 votes Thank Flag Link Sun Jul 8, 2012
Hi Sarah,

I didn't see the listing on mls. What is the list price? Are you sure this is the same property?
Flag Sun Jul 8, 2012
You can figure that any time you see a property on trulia with no address to forget about it in terms of being able to purchase it.

Also, while Trulia has a lot of good information, it is not the best place to go to see available properties for sale.
0 votes Thank Flag Link Tue May 29, 2012
It's very common to find this type of listing that can be a little misleading. Also, Realty Trac is very unreliable. Sorry Kyle, I know you reccomend it but, it's true. When Realty Trac first came out, I use to follow it with other real estate professionals and investors. Anthony Cassel, Director of Property Managment, 415-310-0066
0 votes Thank Flag Link Mon May 28, 2012
Realtytrac along with foreclosure radar and other similar sites are consumer-accessible sites. I only mentioned it because they are usually used by realtors to give buyers the so-called "free" list of foreclosures. What they don't tell buyers, is that this information is accessible to the public. Therefore, these realtors create a false need for their services. I'm not accusing you of doing this, but many realtors do this.

Saying that I recommend Realtytrac is not quite accurate. I know the information is not always reliable or up-to-date. That is why I went the extra mile and did a title search for Stephie. A free foreclosure list is a good first step, though.
Flag Mon May 28, 2012
Kyle is correct, that neighborhood does have retail prices well above the price being shown on the listing. if you are interested in a foreclosure or short sale, feel free to email or call me. We can set you up with a free foreclosure list that will automatically send you new listings as they become available. My team has been working in real estate for over 30 years combined and we are short sale and REO certified. Even if your not ready to buy, we could touch base and go over different strategies. Good luck with your search for a home! Anthony Cassel 415-310-0066
0 votes Thank Flag Link Mon May 28, 2012
Before you get too excited Stephie, if the owner did decide to sell this particular property short, it would likely be listed for over 800K. I would venture to say that it would receive multiple offers and sell closer to a million dollars. If anyone tells you differently, proceed with caution. Let me know if I can be of any further assistance. Thanks.

By the way, you don't need a Realtor to get more information on the property. You can sign up for a free Realtytrac trial account (lasts 30 days) and find out what the address is. This information is available to the public. Hope this helps. Let me know if you need me to help you with anything you can't just get yourself on the internet.
0 votes Thank Flag Link Mon May 28, 2012
Yes, the home is in the city of Piedmont. Give me a call or send me an email. I can give you more details. Anthony Cassel 415-310-0066
0 votes Thank Flag Link Mon May 28, 2012
A pre-foreclosure/notice of default does not mean the house is for sale or on the market. Therefore, it is not something that a realtor can show. The price you see is the amount the owner still owes on the loan, not the listing price, nor is it a price that the home would likely be listed for by a bank if the home was foreclosed on. Are you interested in moving to Piedmont? If so, you are welcome to give me a call or send me an email. I'd be happy to sit down with you some time to explain all these terms to you (i.e. pre-foreclosure/notice of default, trustee sale/auction, REO foreclosure, short sale, etc.). I could also assist you in finding a home that is available in Piedmont if you are still interested. Let me know.
0 votes Thank Flag Link Mon May 28, 2012
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