Property Q&A in Aurora>Question Details

Kim, Home Buyer in Aurora, CO

i would like to know if it is possible to make an appointment to go look at this property

Asked by Kim, Aurora, CO Tue Dec 16, 2008

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This question is about this property: http://www.trulia.com/foreclosure/2003023160--E-Calhoun-Pl-A…

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3
Agreed with Bob, It doesn't look like this home is on the market. After some searching there is a home on Calhoun that has a foreclosure date set that the balance owed is what is stated here. However, there are still many variables. One of the more important points is that this mount owned may be and looks like it is only ONE of the loans on the home. They other loan (1st mortgage at much higher amount) may not be at default. It is highly unlikely (read not going to happen) that a lender would let the home go for that amount (or any small about) if a lot more is owed on the home.
0 votes Thank Flag Link Tue Dec 16, 2008
Have you driven by the property yet? If you tell me the exact address, I can give you a lot of information on it. Such as how much is owed on the property and how much comparable homes are selling for. It says it's going to auction. From what I've seen, people are paying 85% to 89% of the value on homes at auctions. That's pretty much the same as buying HUD homes or homes that have already been foreclosed on. I think the HUD and Bank Owned homes are less risky for the Buyer since you will get to do a full Inspection of the property after being under contract and if something huge shows up you can still negotiate the repair or back out of the deal. Our Team works with quite a few Investors and none of them have found the auctions worth their time or money. We're finding our Investors and Buyer's great deals on Bank Owned and HUD homes. Hope this helps.
0 votes Thank Flag Link Tue Dec 16, 2008
I'm not sure that this home is on the market. It is only in the beginning stages of foreclosure. There is a chance that the owner will cure the default and not sell the home. It sucks that Trulia allows these properties to be put on here without a complete address, and not even knowing if they are for sale.

Regardless, I did a search of all the properties on Calhoun in the area, and the least expensive one is $237k. Feel free to contact me if you want to discuss why this property showed up here like it did.

My guess is there is no shot to buy it for the $96k price they have on it, and that is simply the amount of the loan in the process of foreclosure.

Bob 303.770.1180
Web Reference: http://bloghomedenver.com
0 votes Thank Flag Link Tue Dec 16, 2008
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