Property Q&A in Auburn>Question Details

Jane Parson, Home Buyer in Grass Valley, CA

looking for forclosures under 200,000.00. 3/2 can be condo,townhouse or single family dwelling.

Asked by Jane Parson, Grass Valley, CA Thu Aug 6, 2009

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This question is about this property: http://www.trulia.com/foreclosure/2004370949--Luther-Rd-Aubu…

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Answers

4
Jane,
There are currently 6 active properties in Auburn that fit your criteria, 2 are REO, 2 are "regular" sales, 2 are short sales.

As stated below beware of Realty Trac data, it does not always reflect a true sale.

You may set up a free automated search on my website, that will search all active listings on the MLS and notify you when a new listing appears or call me if you want to talk about your investment goals

Teri Andrews Murch
Lyon Real Estate
DRE 01734030
530-798-0215
0 votes Thank Flag Link Thu Aug 6, 2009
One more thing - you may want to open up search beyond foreclosures. Some examples where pricing may be similar to bank owned pricing on a property.

1) There are investors that are buying foreclosures usually for cash, then will update/remodel and still be able to sell it at foreclosure type pricing.

2) Maybe seller is elderly, has a lot of equity and just needs to move - maybe be closer to kids.

3) Maybe the sellers have passed away and relatives back East just want to be done with it.

Anna Boyd - Re/Max Gold
El Dorado, Placer, Sacramento
Ph: 916-813-3534
Lic. # 01043604
anna@annaboyd.com
Web Reference: http://www.annaboyd.com
0 votes Thank Flag Link Thu Aug 6, 2009
Hi Jane,
Let me give you specifics on the property you were curious about on Luther Road. I feel that Realty Trac figures can mislead the general public as they will list whatever loan is in default, or in this case what bank value bank took it back for. Realty Trac may show the first mortgage when there are 2 on the home or it may be the second mortgage only - and look like a heck of a deal.

In the above case, the address was 12433 Luther Road, Auburn. Previous seller had 2 loans on it. One for $337,500 and a second for $60,000. It was foreclosed on in March 2009 and Bank of NY took it back for
$126,966 (on paper)-that's the value Realty Trac pulled up. It was listed as a bank owned on March 12 at $161,900. It went pending sale twice and sold for $174,000 on June 1, 2009.

Anna Boyd - Re/Max Gold
El Dorado, Placer, Sacramento
Ph: 916-813-3534
Lic. # 01043604
anna@annaboyd.com
Web Reference: http://www.annaboyd.com
0 votes Thank Flag Link Thu Aug 6, 2009
Yes! Auburn does have what you are looking for! The challenge is that the really nice ones get offers right away. So, you need to be on an automatic search program, so that YOU can know about them as soon as the rest of the agents and buyers do. I would love to get you set up on one of these programs. Shoot me an e-mail at seekaty@seehometown.com and I will get that going TODAY! Look forward to hearing from you.....Katy
Web Reference: http://www.seehometown.com
0 votes Thank Flag Link Thu Aug 6, 2009
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