I'm looking to buy a single residential family home in Folsom. Are there any at $150/sq foot or less? How can?

Asked by Joyce, 95757 Wed Jan 23, 2008

I find a REO or pre-foreclosed home in Folsom?

Help the community by answering this question:

+ web reference
Web reference:

Answers

6
Joyce, , 95757
Thu Jan 24, 2008
Thank you for all the very helpful information and links to MLS listings. I've heard that prices are still going down as the glut of pre-foreclosure, bank owned, etc. homes continue to increase into 2008. Is that not true? http://money.cnn.com/2008/01/08/news/economy/home_sales/inde… Is it not wise to wait and see? Thank you Jim, Alex and Carie.
1 vote
Carie Averill, Agent, Lees Summit, MO
Thu Jan 24, 2008
Hi Joyce,

I'm a Realtor that specializes in the Folsom market and currently it is rare to find a home priced at $150 per sqft. There are only 2 homes on the market, out of 295 active, that meet that price per square foot. These were highlighted by Jim. The current average is about $200 per sqft., but I have viewed a few that are under that price per sqft.

I would pay particular attention to "bank owned" homes, because those are selling well below market value. The banks are more willing to accept lower offers than traditional sellers. I have a link on my website for bank owned homes in Folsom.

http://www.RealEstateScout.ws

Please let me know if you would like any further information or assistance.

Sincerely,
Carie Averill-Branch
1 vote
Alex Amaro, Agent, Sacramento, CA
Wed Jan 23, 2008
Hi Joyce,
Jim is on the money as far as homes in Folsom under 150/sq ft. I wanted to expand on this to let you see what is on the market, both REO and regular listings. To give you a reference point on prices in the area and be able to compare, I did a search of all available properties in Folsom that are between $0/sq ft and $185/sq ft.

Usually if someone tells me they are "just looking" as you state in your Trulia profile, I will ask what they are "just looking for". I can then take those specs and set up an automated search that will send every listing that matches your search criteria. In the automated email is a link like the one that follows that will take you to a web page that has all these listings including pictures.

http://prospector.metrolist.net/scripts/mgrqispi.dll?APPNAME…

When people are "just looking" it usually makes them more comfortable to just look online at their own leisure and pace. If you would like me to modify these and set you up on these kind of emails, I welcome you to contact me.
Good luck on your search!
If this was helpful, I'd appreciate the feedback.
Thanks and have a great weekend!
Alex Amaro
916-996-3187
Web Reference:  http://www.alexamaro.com
1 vote
Jim Walker, Agent, Carmichael, CA
Wed Jan 23, 2008
2033 Larkhall Cir, Folsom, CA 95630 * is a bank owned fixer from flood damage downstairs. As Is Sale. Unfinished pool in backyard. At $259,900 with 2447 sq feet it is $107 per square foot.

1233 Fergusen Way, Folsom, CA 95630 is a bank owned property features 2952 sf(per tax records),4 bed,3 ba, .Near Empire Ranch golf course, At $429,900 It is asking $146 per square foot.

I pulled these off the MLS that I subscribe to for you. Working with a Realtor is the best way to find what you are looking for.
1 vote
Beth Moran, Agent, Folsom, CA
Mon Jun 23, 2008
Good Answer Jim!
One other thing you need to consider is your price range. It's always cheaper to build a larger home so if you're on a budget then the PSF doesn't really mean anything. Better to figure out what you have to work with and then work backwards. Motive is another factor that you don't mention. Are you looking to buy to live in or are you looking for investment? More information is needed and that's why I like Jim's answer because a good Realtor will be asking those and many other questions in order to meet your criteria.
0 votes
Joyce, , 95757
Thu Jan 24, 2008
Correction: I actually read this article: http://money.cnn.com/2008/01/23/real_estate/merrill_forecast…

Thank you in advance for any insights.
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more