From my understanding, Realty Trac, and most of its competitors are mostly about getting people to subscribe to their service. Most of the time when buyers cite a particular property because of super low price, it is never selling for that. My best advice - it's a waste of your time. The old axiom, 'if it sounds too good to be true it probably is," definitely applies here.
If you would like some help, feel free to call.
Lance King/Managing Broker
To put it very candidly: RealtyTrac sucks!
I subscribed to their leads for a while and without fail, people emailed me thinking that they could buy property in San Francisco for ridiculous amounts of money. Some guy was adamant about a condo near me on Franklin that he was convinced he could buy for less than $50,000!!
Almost every time that I checked something out, it was the loan amountâ€”or default payments--that people were misconstruing as the price. Or the property was already â€œrescuedâ€ by someone or in escrow for $800,000 when someone thought that they could buy it for $200,000.
Bottom line, the RealtyTrac price is NOT a real price andâ€”in my experienceâ€”their info is rarely accurate.
Other Realtors, donâ€™t waste your timeâ€”or moneyâ€”paying for these leads. Buyersâ€”check it out with a reputable Realtor who has access to real data and frequently the story behind it.
Keller Williams San Francisco Properties