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Foreclosure in Davis : Real Estate Advice

  • All62
  • Local Info9
  • Home Buying20
  • Home Selling1
  • Market Conditions1

Activity 6
Mon Jan 30, 2017
Sheryl Arndt answered:
Hello Sarah, where did you see it and what are you looking to find out? Each unit has a different number of bedrooms and bathrooms and square footage. You did not include a link or complete address of which unit? Are you looking to buy in Davis?

The purchase in Davis start from 329k for 2bd 2ba condo, 345k for 3bd 3ba condo and the single family homes start from 372k for 2bd 1ba home.

You will need to be pre-approved to be able to meet an agent to view and submit offers on any homes of your choice. You will need to gather some documentation for each applicant.

Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, loan program and how much you want to invest into the down payment and closing costs. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

Are you looking for a primary residence or investment?

If you figure out what cities/zip codes you are considering, minimum number of bedrooms and the maximum payment/price you are looking to achieve any agent can email listings to fit your search criteria. Your email address is needed to set you up for the automatic daily updates.

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran and VA/CalVet Loan Specialist
REO and Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
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Sun Jun 1, 2014
Randall Ortiz answered:
Can you be more specific with your question? Is there a certain address that you are asking about?
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Sun Jun 1, 2014
Terri Vellios answered:
It could be anywhere from zero or more. Seriously, you did not give enough information to answer your question. It was not linked to any specific property.

Foreclosure homes are not the bargain they appear to be. If you are looking at Foreclosure Radar, Realty Trac or the like, these are sights designed to gather information to sell you a service or sell your information for a gain. Please keep that in mind.

There are Short Sales, Bank Owned, and Foreclosures. A real foreclosure is when the owner has defaulted on their debt and THAT debt is foreclosing. It doesn’t necessarily remove any superior liens over the subordinate lien. What that means if you go to the court house with your required cashier’s check you could be purchasing the foreclosed debt, along with the first, property taxes, contractor liens or any other combination of problems.

So I highly caution all buyers that that route is only designed for those with a lot of knowledge, resources, and are ok with the potential risk to liability, financially solid investors.
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Fri Sep 13, 2013
Cherie Hunt answered:
I would love to assist you with this. I do not show a current listing in the regional MLS. The most recent one that sold was at 3019. If this is the one you are referring to, it closed escrow on 8/2/2013 for 448,000.00. If not, it is possible that the one you are looking at is either for rent or is coming soon. Which website did you find this listing on? Occasionally, there is a listing for an out of area agent that is not marketing the home in the right Multiple Listing Service. Let me know if you need to track it down further- just need the house number - Call Me 916-239-9182 ... more
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Sun Aug 11, 2013
Randall Ortiz answered:
What is the address of the property? Contact me if you need help with this.

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Sun Dec 6, 2009
Carolyn Gjerde-Tu answered:
I know I'm answering this question really late, but I wanted to give some feedback as an agent working in Davis. Yes there does appear to be more homes in Davis receiving notice of defaults but the number that goes to foreclosure still remains relatively low. Short sale may be a viable option but there are not as many home owners in Davis who bought at the peak of the market who have gotten themselves into financial difficulty. The relative shortage of inventory in Davis also keeps home prices high because there tends to be more demand for homes here than what typically is for sale at any one time. It is a good problem if you already own a house in Davis but can be frustrating for buyers.

In a short sale a buyer submits an offer to the seller who then sends the offer (or offers) to their lender for approval. The short sale seller still considers and accepts or rejects the offer but does not have the ability to complete the sale without their lender approving the sale because the lender is going to be accepting less money than what they are owed.

I have a page dedicated to foreclosure listings in Davis and another that shows only short sales. These pages have stats data that is updated once a month that tracks just foreclosure or short sale activity.
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