Property Q&A in Valencia>Question Details

jaypcal, Home Buyer in Stevenson Ranch, CA

Is this property still active? A house or a townhouse? Bedrooms / Baths? Is this price sold as is? If so, I'd have my current realtor show me ASAP.

Asked by jaypcal, Stevenson Ranch, CA Mon Nov 28, 2011

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This question is about this property: http://www.trulia.com/foreclosure/3054240107--Memory-Ln-Vale…

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3
The above property mentioned has been Bank Repossessed. This property has completed the foreclosure process and is now owned by the foreclosing lender, which took title to the property for an estimated consideration (loan balance plus other fees and costs). Foreclosing lenders are often motivated to sell bank-owned properties (also known as REO, or Real Estate Owned) quickly because they are non-performing assets. (Trulia link above). Its just a matter of time be in early 2012, it will be back on market as REO. If you have any more questions feel free to contact me, Good Luck.
0 votes Thank Flag Link Tue Nov 29, 2011
Hi there; The link attached does not include the actual street address on Memory Lane, however, I can tell you that the only one that was available is pending. That address is 28017 Memory Lane, Valencia. It is a detached home with with 3 bedrooms, 3 baths, and is a short sale; meaning that the seller is in default and is trying to work out the situation with their bank. The listing price may or may not have anything to do with what it sells for in the end. If it is under-priced, the bank will adjust the price to market value. There could be more than one loan, and if so, it may never be approved on a short sale situation and may in fact end up in foreclosure months from now, and then become available in 2012 sometime.

For today, though, it is in a "Pending" status, which means that one or more buyers have an offer on this property and the bank is working on it with the agents and seller. Let me know if you need anything else!

Regards, Helen LaPrairie,
Realty Executives Valencia
661-253-2112
0 votes Thank Flag Link Mon Nov 28, 2011
Bank Repossessed. This property has completed the foreclosure process and is now owned by the foreclosing lender, If you are working with an agent they will be able to get all the info you need.
Good luck

DJ Bonner
djbonner@kw.com
0 votes Thank Flag Link Mon Nov 28, 2011
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