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Foreclosure in Eastside : Real Estate Advice

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Thu Feb 6, 2014
Shel-lee Davis answered:
When you are looking at Foreclosures on this site, you are usually NOT looking at properties that are actually for sale. The foreclosure data comes from public records. Often the "price" is misleading as it is either the amount that the owner is behind or it is the amount of the loan that is foreclosing - and there might be 1, 2, 3 or more total loans on the property.

Your best bet to find good deals is to work with a local realtor who knows what is available today and also what is coming on the market. Hoping for a property you find under Foreclosure and thinking you can get it for amount shown will only lead to frustration and disappointment. Hope this helps.

Shel-lee Davis BRE #01817412
Real Estate Consultant
International Real Estate Specialist - IRES®
Senior Real Estate Specialist - SRES®
Certified Home Seller Advisor - CHSA®
Certified Home Buyer Advisor - CHBA®
Member - National Association of Certified Expert Advisors - NAEA
Certified Distressed Property Expert - CDPE®
RE/MAX Estate Properties
424-2HELP12 (424-243-5712)
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Fri Sep 13, 2013
Dana O'Neill answered:
Great question! Property values are estimates based on a variety of factors and sources. Not all companies have access to or use the same sources. This is especially true of homes that have been upgraded or remodeled since the last time they sold. The online sources cannot take this into consideration and hence, their estimate is based on lot size, sqare footage of the home, neighborhood, etc. Conversely, if a property has deteriorated since the last sale, online sources will not know this. Another aspects of a sale that an online source cannot calculate is the reason a home sold for a certain price, what negotiating and concessions were made.

However, Realtors will!! Always best to check with a local realtor to discover what the actual, most current value is for a home.

Hope that helps! And if I can be of assistance, please let me know!

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