Property Q&A in Novato>Question Details

bigj2479, Home Buyer in Portland, OR

Who is listing this? I'd like to contact them.

Asked by bigj2479, Portland, OR Sat Feb 2, 2013

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PS: @ bigj2479: There is another avenue in locating "distressed" homes, particularly on Eldridge Ave., in Novato.
0 votes Thank Flag Link Sat Feb 2, 2013
Dear "bigj2479", Presently, there are no active listings on Eldridge Ave., in Novato. The last listing that sold was 555 Eldridge and it sold for $439k (Sold, 11/15/12). This listing had the same physical description regarding BRs, BAs and dwelling sq/ft. Moreover, due to the low inventory of homes right now, "entry" homes are increasing in price, dramatically. For a standard 3BR/2BA home, expect pricing to start in the high $300k to low $400k and I anticipate this trend to continue thus a further rise in home pricing. I hope my answer helps. Kindly, Rod MacDougall, Bradley Real Estate, DRE # 01353902.
0 votes Thank Flag Link Sat Feb 2, 2013
Some of the information that is on internet foreclosure sites is very confusing. There is a whole process that lenders must go through to foreclose on a property. There are many things that can happen during the foreclosure process...the borrowers can bring their loan payments current, the borrowers can apply for a loan modification, the borrowers can file some kind of legal action against the lender, the borrowers can list their home to sell as a regular sale or a short sale, etc. etc. The first step is the recording of a Notice of Default which gives the borrowers notice that their loan is in default and warns them that they need to bring the payments on the loan current in addition to paying any additional fees or charges. They are given 90 days to do this. If the loan is not current after 90 days, the lender then can record a Notice of Trustee Sale, which is scheduled 21 days from the recording of the Notice of Sale. Lenders do not always record a Notice of Sale immediately following a Notice of Default. As you can tell...the process is lengthly, complicated, and can go through many twists and turns.

If you are interested in purchasing property, we would advise you to focus on all types of sales. The window of opportunity to purchase property is being affected by increasing prices, slightly increasing interest rates and low inventory.

Mary Kay and Kathy
0 votes Thank Flag Link Sat Feb 2, 2013
This home is not on the market. Not all homes with Notice of Defaults make it to the market. the owners maybe still trying to refi it. At some point they may decide to sell or it may be foreclosed on and then sold as a bank owned property. Unfortunately, it is too soon to say.
0 votes Thank Flag Link Sat Feb 2, 2013
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