Property Q&A in Sacramento>Question Details

Debbie, Home Buyer in Sacramento, CA

is this property still available?

Asked by Debbie, Sacramento, CA Mon Jan 5, 2009

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This question is about this property: http://www.trulia.com/foreclosure/2003332979--Benham-Way-Sac…

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Hi Debbie: This property is not yet for sale. RealtyTrac, which submitted this listing to Trulia, posts properties on which a notice of default has been filed. Not every home that has a notice of default filed against it goes all the way through foreclosure, and it also, unfortunately, doesn't mean the home is for sale.

In this particular case, it appears this home went to auction at a trustee's sale just before Christmas. In almost all cases, the lender is the winning bidder at the auction because nobody wants to pay off the lender when the home is upside down.

I hate to say this, but the estimated sales price on RealtyTrac also is meaningless. After the lender picks up the home, the lender then decides on a sales price -- typically near market value or a bit below -- and chooses how to sell it. The lender could sell it directly, but few do that. Or the lender could package it in a bulk sale to investors. Or what is more likely, the lender will hire an REO specialist to put it on the market. All of that can take a while, anywhere from 2 weeks to six months.

Is there something about this particular home that strikes your fancy? Would you like to be notified when the home comes on the market -- if so, you can email me and I'll set you up on an automatic notification. If not, maybe you would like to consider others in that area? There are good deals right now near Lewis Park and other areas in the Pocket.
1 vote Thank Flag Link Tue Jan 6, 2009
It is not listed in MetroList, so it is either a For Sale by Owner or is not a true listing. I searched all status's including withdrawn, pending, temporarily off market. I am assuming it is the property listed by Zillow as 6520 Benham. If you are not local and would like me to drive by to learn more, I would be happy to do it.
Web Reference: http://www.PaulaSwayne.com
0 votes Thank Flag Link Mon Jan 5, 2009
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