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Rick is a senior vice president at RealtyTrac, which publishes the largest database of foreclosure and bank-owned properties. As company spokesman, Rick
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Rick Sharga answered:
The property you're looking at is 98 Morris Street. The property sold for $305,000 in March 2008, and was repossessed by the bank for $292,500 in April of 2009. Like many other bank-owned properties (over 50%), this one isn't yet listed for sale. And, like many other bank-owned properties, it's probably not worth nearly the amount that the bank has it valued at on its books (our estimated market value is less than half of the repo price, but that's just an estimate).
While all of the properties on RealtyTrac are in some stage of foreclosure, not all are currently for sale. But there are dozens of bank homes for sale within 5 or 6 miles of the property you asked about. There's a new feature on RealtyTrac called MLS Match (see the link below) that will allow you to search for bank homes and foreclosures that are listed for sale. As noted below, it's also usually a good idea to work with a local real estate professional who can help you do the research and negotiate the best deal.
Good luck with your search!
Rick
While all of the properties on RealtyTrac are in some stage of foreclosure, not all are currently for sale. But there are dozens of bank homes for sale within 5 or 6 miles of the property you asked about. There's a new feature on RealtyTrac called MLS Match (see the link below) that will allow you to search for bank homes and foreclosures that are listed for sale. As noted below, it's also usually a good idea to work with a local real estate professional who can help you do the research and negotiate the best deal.
Good luck with your search!
Rick
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