Property Q&A in Oakland>Question Details

Naomi, Other/Just Looking in Ann Arbor, MI

I would like contact info of a realtor who has visited this home, to find out about it's interior condition

Asked by Naomi, Ann Arbor, MI Mon Apr 6, 2009

This question is about this property:…

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Hello. As already mentioned RealtyTrac is not the most reliable source in terms of actual sales price. What RealtyTrac does is list the homes with the amount of back mortgage, taxes and fees which is does not always reflect the price that the property would actually sell for. It is frustrating that the homes are listed as such, becuase if really does not reflect an accurate picture of the property's final list price to buyers who are looking.

If you are not currently working with a Realtor, I would suggest you make contact with one who will be able to help you locate a property that fits your budget as well as you other needs in a home.

Hope that helps!

Lisa Cartolano
Alain Pinel Realtors
0 votes Thank Flag Link Tue Apr 7, 2009
Naomi --

Beware of RealtyTrac listings of foreclosed homes. They are very often (perhaps unintentionally) quite misleading. The low, low price of the home presented is often the payoff amount of the loan that has been defaulted on, but does not reflect the price at which the bank will eventually offer the property for sale. Many Trulia users have experienced quite a bit of frustration with the numbers presented by RealtyTrac (including agents like myself who must constantly explain the above to our clients and prospective clients!).

That said, there are quite a few great deals on foreclosed homes in desirable areas of Oakland and Berkeley. If I can be of any assistance in your search, please contact me directly.

Best regards,
Cameron Platt, JD, CRS
Platt Inc. Real Estate
(510) 708-4137
Web Reference:
0 votes Thank Flag Link Mon Apr 6, 2009
Since there is no address in the listing you linked to, it is difficult to know which house on that street has gone under trustee sale and foreclosure proceedings. The price is most likely what was owed to the bank at the time of foreclosure. Houses in that area sell anywhere from the low 700's to over a million. So my best guess would be that once the bank contacts a realtor to list the property for sale, it will be listed for much more than $120k. Everything of course is dependent on when it goes on the market and what condition the home is in. If you are looking for a local agent to keep on eye on this area/neighborhood for you, I would be more than happy to help.

0 votes Thank Flag Link Mon Apr 6, 2009
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