There have been numerous short sales and REO sales in Redwood City. However Redwood City real estate prices have been climbing:
http://julianalee.com/redwood-city/redwood-city-statistics.htm
There should be fewer of these sales in the future. You can see mls listings for short sale/REO homes for sale in Redwood City at
http://www.silicon-valley-homes-for-sale.com/listings/areas/27859,27860,27861,27862,135244/propertytype/SINGLE,CONDO/listingtype/Foreclosure%20Bank%20Owned,Short%20Sale/
There are companies whose business is to sell information to consumers who promote pre REO properties on Trulia and elsewhere. The number of "advertisements" does not necessarily correspond to actual real estate sales.
Juliana Lee
Top 2 agent nationwide at Keller Williams Realty
Cell: 650-857-1000
Over 30 years experience
Over 1,000 homes sold in San Mateo and Santa Clara Counties
.... more
1227 Fernside is in the MLS area called Central Park. Real estate statistics for the Central Park neighborhood of Redwood City are at
http://julianalee.com/redwood-city/central-park-statistics.htm
You can see that the price changes follow Redwood City as a whole. It's not as easy to see but it also follows San Mateo County real estate statistics reasonable closely
http://julianalee.com/san-mateo-county/san-mateo-county-statistics.htm
San Carlos has fairly similar real estate statistics
http://julianalee.com/san-carlos/san-carlos-statistics.htm
Belmont sale statistics don't follow the county as closely
http://julianalee.com/belmont/belmont-statistics.htm
Juliana Lee
650-857-1000
Top 2 agent nationwide at Keller Williams Realty
Over 30 years experience
Over 1,000 homes sold in San Mateo and Santa Clara Counties
.... more
There are multi family listing available in the area. Please look for investment properties in San Mateo County and these listings come and go. If you need help from agents/Broker they will be able to send you that information.... more
Hi, You can visit www.HomeFair.com and click on the city reports section for in-depth crime stats and area demographics. Other options are www.SpotCrime.com and www.CrimeReports.com
Chris... more
You should contract a mortgage professional to see if you qualify for a loan. If you need a referral, feel free to ask.
Best.
Tap
www.DavidTapper.com
www.TeamTapper.com
Sia,
Great question. So as you are probably aware, you need to go to the court house for the auction prepared to pay all cash and you must be able to pay off all the liens on the property. Many of the homes that have trustee sale dates do not actually go to auction. The owner can postpone the trustee sale by starting a loan modification or a short sale or by declaring bankruptcy. The bank can postpone the trustee for any reason.
If a home gets to auction and is actually worth more than what is owed (which is very rare because if it was, the seller could just sell the home and pocket the profit.) then the auction process is pretty straight forward. The minimum bid is set by how much is owed to the first lender. the second lender has the option of paying off the first lender and if they are not interested in doing that, the bid is open to the public who must also pay off the other liens or out bid the second lender.
It is a very good idea to hire a realtor to help you through this process to make sure you know what you are doing and what the potential problems can be. Since you can not go inside the house when you make the bid it is always a gamble, but sometimes one that pays off.
You should hire a realtor who is familiar with distressed properties as well as the local market.
Marcy Moyer
Keller Williams Realty
marcy@marcymoyer.com
650-619-9285... more
I own a 2 bedroom duplex in Redwood City with a 1 car garage. We will be asking $2,000 per month but the place has been through extensive remodeling. Please contact me if you would like to the see duplex.
650-533-3526 Cell
omargalindo33@gmail.com... more