There are 5 single family homes on the market at this time under 500,000 and 6 condo's. Foreclosed properties are accessed by the local papers and finding an auction house that deals with tha area. Most of what you will find on the MLS is Short sale properties and distressed sales. Home sales through Truila are pulled directly from the MLS so I would say very correct. I work the coast so if you would need more information please email me
You need a good Realtor that knows Pacifica. There are two points that allow the buyer to take advantage of foreclosures. Once is when the house is in pre-foreclosure, it is on the market and it is a short sale. At this point it is being sold for less than what is owed on the property and you are negotiating with the lenders. If the house does not sell at this point then the lenders foreclose and take possission. The second apportunity is when it has been forclosed and the bank ownes the property. At this point it is usually priced very agressive and you need to be in a position to act quickly because they are not on the market very long at this point.
I definitely agree that there will be more foreclosures by the end of 2008. Most of the adjustable rate mortgages are now coming due and the foreclosure process is lengthy. Therefore, I think if you are patient you will be able to find some great deals at the end of the year. If you have any questions feel free to contact me at email@example.com
There are several strategies to use in buying a home by using front end/back end of the deal as well as the front end/back end of the Loan. On Foreclosured Bank-ownded homes, it is best to use a Triple Offer Strategy.
Most of the Foreclosures in the Pacifica area are a "Short Sale"; with a totally different strategy used on these. And, typically, they take more time to close.
If you want to discuss Buyer Strategies appropriate for your situation, please email me at firstname.lastname@example.org
I can help you find them and review all the sales in the area in 2008.
First Team Real Estate
E-mail : email@example.com