Property Q&A in San Mateo>Question Details

Dddec00, Home Buyer in San Mateo, CA

what is the address..is there room for a pool?

Asked by Dddec00, San Mateo, CA Sat Jan 5, 2013

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This question was asked from this property: http://www.trulia.com/foreclosure/3104640592--Lexington-Ave-…

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Answers

3
Guess what … if the listing has the logo for RealtyTrac ...

Then what you are seeing is NOT an actual listing … it is an advertisement for RealtyTrac.

RealtyTrac is a provider of data for distressed homes. This data is used by investors and Realtors to track distressed homes. When you see the RealtyTrac logo, you are not looking at a home that is actually available for you to buy: what you are seeing at is either (1) the notice of default for one of the mortgages on the property in question, (2) a notice of an impending trustee sale or (3) a notice of a completed trustee sale.

RealtyTrac notices can be very deceptive because they usually give loan amounts, not the purchase price or fair market value. When and if this particular property hits the market, it will be at market price for the neighborhood.

Bottom line: RealtyTrac is trying to get you to sign up for their service.

The following links may be helpful:

When Is The Price Not The Price?
http://bit.ly/p11iq

It’s Too Good To Be True: REALLY – Top 4 Buyer Myths
http://bit.ly/4PKTHT

If you want to know when these or similar properties will actually hit the market, have a Realtor set you up with an auto-feed that will alert you the moment they become active on the MLS.
1 vote Thank Flag Link Sun Jan 6, 2013
Great answer Carl!
Flag Sun Jan 6, 2013
There are 2 homes currently on the market on Lexington in San Mateo. One is offered at $1,345,000 that is a 4/2 with a lot size of 7700 square feet and looks to have room for a pool. Address for this one is 1704 Lexington. The other is at 1888 Lexington that is also a 4/2 and has a lot size of 8,250 square feet which also looks to have room for a pool. If I can be of assistance, please feel free to call me on my cell at (415) 310-7956. Thanks!

Sincerely,

Dennis J. Murphy
Realtor
Better Homes & Gardens Real Estate
1116 S. El Camino Real
San Mateo, CA 94402
(415) 310-7956
0 votes Thank Flag Link Mon Jan 7, 2013
What you have seen on Trulia is a notice of default or foreclosure posted by Realty Trac which is a reporting service. Realty Trac takes information from public records and provides it by subscription to its members who have registered and agreed to pay a fee for the information. What you see on Trulia is an abbreviated report from Realty Trac in order to entice you to sign up for their service.

It is unlikely that you will be able to buy this house for the price posted on Trulia. That is the amount of a default and has no relationship to the value of the property. The house may be offered for sale at a later date but it will most likely be listed with a Realtor and priced at a price that reflects the market price for the area.

If you are serious about buying a house, you need to align yourself with a full-time, experienced local Realtor who can help you to find the house that meets your needs. Your Realtor can help you to learn about the current market conditions, realistic house prices, loan qualifications, negotiating strategy, escrow management, inspections and everything else that goes into the purchase of a home.
0 votes Thank Flag Link Sun Jan 6, 2013
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