Property Q&A in Charlotte>Question Details

Monika, Home Buyer in Charlotte, NC

hello. could you tell me the address of the house for this listing? How can I see it? Thx, Monika

Asked by Monika, Charlotte, NC Sun Mar 28, 2010

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This question is about this property: http://www.trulia.com/foreclosure/2008319305--E-Worthington-…

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If you are looking for a great deal on a home or investment property, HUD homes are a great source of inventory. You can see what is currently available in NC and SC by visiting http://www.hmbiweb.com. The process can be a bit overwhelming if you are not a seasoned buyer. I would recommend finding an agent experienced in the process. Feel free to give me a call if you are interested! Good luck on your search.
0 votes Thank Flag Link Sun Mar 28, 2010
Monika,

Here is how Trulia and other sites like it get their data:

When an owner misses a payment on their mortgage, the lender files a notice of default at the courthouse. Trulia and other sites see these notices and post the home on their site as if it is for sale for the amount on that loan. Usually these amounts are extremely low. Typically that it because they are only reporting the balance of a 2nd mortgage or equity line. Yes, the owner of this property may have missed a payment on their 2nd mortgage that currently has a balance of roughly $68,000. However, it is likely that they have another loan (a 1st mortgage) for a much greater amount. Regardless of what loans the owner has, they may not have been foreclosed on yet and even if they have, the lender will list the home for sale based on what comparable properties have sold for, not what the balance is on the loan.

For this particular property, comparable properties would tell the bank to list this home for atleast $350,000+++.

There are no active listings on Worthington that match this property. I also looked up tax records and there are no bank owned homes that match either (these would be homes that have been foreclosured but not yet listed in the MLS).

If you are looking for current listings (even foreclosures), I highly recommend getting in contact with a knowledable real estate agent. An agent will give you access to accurate information, real listings, and access to see all homes for sale.

Hope this helps! Feel free to contact me if you want more assistance in finding the right home for you!

Amy Gooden
Allen Tate Realtors
704-258-1459
Amy.Gooden@allentate.com
0 votes Thank Flag Link Sun Mar 28, 2010
For a more current list of HUD and Fannie Mae foreclosures please visit http://www.homesbylender.com/charlotte. There you will HUD, Fannie Mae Foreclosures and For Sale by Owner properties. The list is updated daily.
0 votes Thank Flag Link Sun Mar 28, 2010
I'm sure they are referencing 812 E. Worthington which was a foreclosure that sold last Feb. 09 for $360,000. It was a total fixer upper that had been gutted on the inside...
If you are looking for a foreclosure I would suggest you hook up with an agent that can help you find homes that are really on the market... Realty Trac pulls info from tax records and other public records but they are often wrong.
You can check out our link of foreclosure and short sales.
0 votes Thank Flag Link Sun Mar 28, 2010
Anything on E Worthington would be priced from $400-950,000. Not sure how old or if the information is even correct? It appears to be in the 800 block and there doesn't seem to be a home active. On did close in Jan. 2010.
Candy
0 votes Thank Flag Link Sun Mar 28, 2010
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