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Property Q&A in Carlsbad : Real Estate Advice

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  • Local Info17
  • Home Buying101
  • Home Selling4
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Activity 111
Sun Jul 26, 2009
Rachel LaMar, J.D. answered:
Hi Bob,

I forgot to mention that Trulia updates their listings all the time. If you initially got the information from Trulia it could be that you happened to log in just before the property status was updated. The typo was most likely picked up from the actual MLS listing but may not have been updated yet either.

Rachel
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Sat Jul 11, 2009
Dot Chance answered:
Gigi,

I am so sorry for the problems you are having. You definitely have your hands full.

Most lease options are only for 12 months. Of course, all of that is negotiable. I do not work in your area so you would need to find an agent nearby.

If you are saying that you lost your home in foreclosure, right now may not be an easy time to find a seller that will feel secure with a long term lease with option. There are so many people right now in your position and that's not an easy one to be in.

Possibly there would be an organization to help with your mother's housing needs (for all of you.) I'm just not sure what that would be. Have you checked with your local housing department? They may have a list you could get on to find you an affordable home until things get better for you.

I wish you the best!
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Wed Jul 8, 2009
Seth Chalnick answered:
There is actually one other home that fits this criteria listed at $598k... but its a short sale and unlikely to close successfully at that price.
0 votes 2 answers Share Flag
Sun Jun 21, 2009
Sam asked:
--
This question is about this property: http://www.trulia.com/property/1059182069-5301-Don-Ricardo-Dr-Carlsbad-CA-92010
0 votes 0 Answers Share Flag
Sun Jun 14, 2009
Dennis Smith answered:
Gigi,

Wow, a double whammy!

Fortunately, your home does not show up in foreclosure on www.foreclosureradar.com. The best way to confirm this is to call the trustee listed on the notice you received. If you do not have it, call the owner and get it from him.

There are many ways for the owner to save the home...if it is possible.

You have rights as a tennant. You will probably not be able to remain in the home for your 2 year lease however, you will get at least 90 days AFTER the home is foreclosed on. It is very unusual, but some lenders are renting out the homes after the foreclosure.

You want to verify my 90 day information with a lawyer because I can not give you legal advice. Also ask him about multiple year leases.

Good Luck.

Dennis Smith, ABR, SRES, e-PRO, Realtor®
Taylor Place Real Estate
Buy or Sell a Home with Me, Use my Moving Truck - F R E E for life.

dennis@SanDiegoHomes4u.com
760-436-0087, or cell at 760-212-8225
http://www.sandiegohomes4u.com/home.htm

My Market Trends Report with graphs and charts for North Coastal San Diego
will give you the Sales Statistics for the month and compare it with last year, by city!
http://www.sandiegohomes4u.com/RealEstateTrends.htm

You can view all available San Diego area homes for sale at
http://www.sandiegohomes4u.com/MLS_Search.htm
You can search by address, by MLS number or by general criteria.
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Sat Jun 13, 2009
Roberta Murphy answered:
Louie:

Perhaps this home is available in another Carlsbad--in another state? The address given for this Carlsbad, CA property is in a shopping center, and the only thing near that price would be a condo or two across the street. I see you live in Carlsbad, TX; perhaps the wrong zip code was entered for this listing?

To search for real estate listings in Carlsbad, California, just visit the link below:
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Mon Jun 8, 2009
Linda Anderson answered:
No it is not in foreclosure or default.
0 votes 1 answer Share Flag
Wed Jun 3, 2009
Dennis Smith answered:
Diana,

This property was taken back in foreclosure and has been assigned to a Realtor to sell it for the bank.

It has not been listed yet. If you would like to contact me, I would be glad to let you know when it becomes available for sale.

You can view all available San Diego area homes for sale at
http://www.sandiegohomes4u.com/MLS_Search.htm
You can search by address, by MLS number or by general criteria.

Dennis Smith, ABR, SRES, e-PRO, Realtor®
Taylor Place Real Estate
Buy or Sell a Home with Me, Use my Moving Truck - F R E E for life.

dennis@SanDiegoHomes4u.com
760-436-0087, or cell at 760-212-8225
http://www.sandiegohomes4u.com/home.htm

My Market Trends Report with graphs and charts for North Coastal San Diego
will give you the Sales Statistics for the month and compare it with last year, by city!
http://www.sandiegohomes4u.com/RealEstateTrends.htm
... more
0 votes 1 answer Share Flag
Mon Jun 1, 2009
Tony Cannon answered:
-The public auctions at the Convention Center etc. seem to be the least desirable homes being purchased by uninformed buyers and rarely do they get a deal.
-The trustees sale auctions held on the courthouse steps are for experienced buyers who are able to purchase with cash. If you know what you are doing, you can get a deal.
-A bank owned home still requires research to understand the true market value, and you may have to make more concessions than you would with a regular seller. Plus you could be competing against numerous other buyers, some of which are willing to pay more than the home may be worth.
-Short sales can be a good deal if you are willing to wait, the seller's lender(s) come up with a reasonable value, and you figure out how to compete with all the other buyers.

In my opinion, the most for your money will be a fixer-upper bank owned home or short sale where you can do much of the labor yourself and the home has been on the market for a while so the bank is motivated and you are not competing against other buyers on a home newly listed.

In many areas of north county in the under $700,000 price range, you may find it very difficult to find a good deal. You'll definitely want to be patient, be prepared to make a lot of offers, and enlist the services of an on-the-ball buyer's agent. Or maybe wait until year's end when some normalcy may have returned. Homes priced over $700,000, you may find willing sellers open to negotiating and you could get a could deal without too much difficulty.
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Mon Jun 1, 2009
Tony Cannon answered:
Lot size, view, landscaping, and proximity to power lines can have a huge effect on property values. And each real estate agent or appraiser may come up with different numbers based on their knowledge of the subject, the area, and the comparables.
If you are trying to get a ballpark idea of the value of your home before paying for an appraisal, many people use http://www.zillow.com, but it really is not that accurate. A local real estate agent would be your best bet to give you a market value, however, many times the appraised value can be quite different depending on the experience of each individual and their objective.
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Sat May 23, 2009
Dennis Smith answered:
JC,

This house is at 6488 Kite in Carlsbad. A very nice area.

This loan may be in first position and there is a second trust deed behind it for about $200K. Since this property is worth over $700K, it is unlikely that the seller will let it be taken back by the bank. They have until 8/11/09 to avoid the foreclosure...lots of time to sell it on the open market.

The information you received is through RealtyTrac, a company that tracks Notice of Defaults, Notice of Sales & Foreclosures. They entice people to buy their foreclosure subscription service with misleading prices like this.

What you are looking at could be the whole loan, the 1st loan, the 2nd loan or even the defaulted Homeowners Dues. Even if you were able to buy this property at the "Listed Price", you would still be liable for the loans/liens that are senior to the one you are buying. When the property is finally foreclosed on, the junior loans/liens are wiped out and the bank will contact a Realtor in the area and list the home close to fair market value.

In a bank foreclosure situation, it can take a minimum of 6 months to over 18 months for this property to be listed after the owner stops making payments. In a Short Sale situation, it can take the bank 1 month to 6 months to never to even acknowledge an offer on a property.

These are just a few of the reasons you you need to be represented by an experienced Realtor...besides, it costs you nothing for representation...the seller pays me, not you.

You can search all available listed homes, including foreclosures & short sales, on my MLS search engine at:
http://www.sandiegohomes4u.com/MLS_Search.htm

Dennis Smith, Taylor Place Real Estate
dennis@SanDiegoHomes4u.com
760-436-0087, or cell at 760-212-8225
View all available San Diego area homes for sale at
http://www.sandiegohomes4u.com/MLS_Search.htm

My Market Trends Report with graphs and charts for North Coastal San Diego
will give you the Sales Statistics for the month and compare it with last year, by city!
http://www.sandiegohomes4u.com/RealEstateTrends.htm
... more
0 votes 1 answer Share Flag
Sat May 23, 2009
Tony Cannon answered:
Hi Phyllis,

It does not appear this home sold at the May 14 auction. The owners of this home have owned it since 1973 and have had notice of defaults and notice of trustees sales recorded for over 10 years and they always manage to avoid the foreclosure.

If the home ever does make it to auction, I'm sure the bids would be much higher than the amount owed, or if the bank took it back, the asking price would be closer to market value of about $517,000.
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Fri May 15, 2009
Dennis Smith answered:
Sarah,

Yes, it and 2 other models are available. These are new homes that are part of the master-planned, gated community, San Vincenzo at La Costa Ridge.

You can go there yourself, but if you go the first time without an agent, you will not be able to have any representation. Even if it is just to pick up a brochure. You will have to deal with the builder direct. Representation costs you nothing and you have much to gain.

I have sold several new construction homes and know many tips to help you.

See my site at http://sandiegohomes4u.com/New-Homes.htm for more info.

Please give me a call if you would like to see inside.

You can view all available San Diego area homes for sale at
http://www.sandiegohomes4u.com/MLS_Search.htm

Dennis Smith, Taylor Place Real Estate
dennis@SanDiegoHomes4u.com
760-436-0087, or cell at 760-212-8225
View all available San Diego area homes for sale at
http://www.sandiegohomes4u.com/MLS_Search.htm

My Market Trends Report with graphs and charts for North Coastal San Diego
will give you the Sales Statistics for the month and compare it with last year, by city!
http://www.sandiegohomes4u.com/RealEstateTrends.htm
... more
0 votes 1 answer Share Flag
Fri May 15, 2009
Diane Conaway answered:
Wow, that was fast that they turned up here. Yes, they are still available because they are under construction. Trulia pulls information from lots of sources. These don't show in the MLS yet but they are available. If you'd like to take a look, just let us know. Builders are offering incentives along with great pricing. You can also have your own buyer's representative to look out for your interests, especially important when purchasing new homes. I worked for several large home builders before switching to the Realtor side some years ago. I'm happy to answer any questions.

Diane Conaway, Accredited Buyers Representative, Associate Broker
RE/MAX United, (760) 749-2888
... more
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Thu Apr 2, 2009
Diane Conaway answered:
They're not real numbers. These are for sale in the high $500ks.
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Tue Mar 31, 2009
Tony Cannon answered:
Yes it is still available and can be purchased using cash or a loan. The address is 7259 Surfbird Circle and the list price is $599,000. Here are the MLS details:

http://tempo5.sandicor.com/Pub/EmailView.asp?r=192950458&s=SND&t=SND

The $100,000 price you see was the trustee's sale amount at the end of the foreclosure process.
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Thu Mar 19, 2009
Tony Cannon answered:
3452 Camino Valencia has the $95 per month HOA dues as Patti mentioned and there are no Mello Roos. This home looks like it is in a pretty good location near the pool and would not get any road noise from Alga or Xana. ... more
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Fri Mar 6, 2009
Robert Chomentowski answered:
Tony gives you good advice. Trustee sales are extremely risky places to buy where you are competing with experts. When you buy a trustee sale you have to buy cash and have no time to really do an inspection on the property. It is also long and arduous to follow a property to a trustee sale. Many times they will get caceled the day before.

It's much better to wait for the property to get taken back by the bank after the trustee sale and buy it when it comes on the market as an REO. That way you get 30 days to close and can line up all your inspections.
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Fri Mar 6, 2009
Seth Chalnick answered:
Hi again, I found two other similar homes in the same neighborhood for under $600k. Drop a line if you'd like me to shoot you the MLS listings :)
0 votes 4 answers Share Flag
Thu Mar 5, 2009
Tony Cannon answered:
Hi Greg,

The home you inquired about just got listed today as bank owned at a price of $599,000. Here are the MLS details:

http://tempo5.sandicor.com/Pub/EmailView.asp?r=1980939803&s=SND&t=SND ... more
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