How can I find out about foreclosures that are up for public auction in Va Beach without subscribing to?

Asked by Leah, 23518 Mon Jul 14, 2008

RealtyTrac and having to give out my credit card number?

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Vicky Chrisn…, , 20176
Mon Jul 14, 2008
BEST ANSWER
Leah - most homes that are sold at public auction on the courthouse steps are purchased back by the bank for the loan amount, which is more than today's market value (otherwise, they owners would have sold it). There are rare exceptions, but this is the norm. Then, the banks hire a listing agent and assess the true value and sell it like you'd sell your own home. So, the best way to get a good deal (which is probably what you really want, right?) is to hire a buyers agent to assist you. If I have misunderstood your intention, or if I can help you in any way, please email me directly vchrisner@kw.com. Bottom line - I wouldn't pay RealtyTrac for the information. The blog post might also help give you some insight.
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Anja Howard, , Virginia Beach, VA
Mon Feb 22, 2010
Go online and you can check the local paper and you won't even have to waste trees and change. You can also work with a Realtor and they will put their resources to work for you as well.

Happy hunting.

Anja Howard
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Drew Hitt, , Virginia Beach, VA
Fri Jan 9, 2009
Come on guys, let's stick to answering just the question and not going on about market predictions. Unless that is the question asked, we should do our best to provide an unbiased response to the question asked only. Let's keep the rest of our opinions that are off-topic out of the responses.

When in doubt, please refer to the Community Guidelines. We're not even allowed to asked people to call us, we're just here to give educated opinions on the questions asked, not predict the future.
0 votes
Jeff, , Virginia Beach, VA
Fri Jan 9, 2009
Bubble Boy:

I think your numbers are a little off, but I agree with you in principal.

Only about 2,000,000 homes will hit foreclosure this year in the US according to my research (not including homes that were mods and defaulted more than once (300,000 in 2008))

Virginia Beach, on average, will only drop another 20% over 2009-2010. At that point we will be back on track with historical appreciation rates pre-bubble.

Based on avg VA Beach monthly foreclosures pre-moratorium Nov 2008, there are about 2,500 pent up foreclosures to be released in our area. So there is no rush to find a good one.
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Angie Nishni…, Agent, Richmond, VA
Wed Jan 7, 2009
Sam White, PC handles the majority of foreclosure sales in most of our area and throughout VA.
You can go to his website and there is a link for foreclosure sales:
http://www.siwpc.net/upcoming.html

The only thing it, you have to click on every day of the month to see if there are sales. It's a little time consuming, but worth it.

Good luck!

Angie
Web Reference:  http://www.nishnickhomes.com
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Charles Farl…, Home Buyer, Chantilly, VA
Fri Aug 22, 2008
It's still too early to really think about this. There is going to be over 5,000,000 or more homes hitting foreclosure. The time to buy is when the sheep (that's like, you) think it's the worst thing ever to buy a house.

I rent an apartment, and if you work out the numbers it should sell for $140,000. I've got water views and high ceilings and all that. Nearby condo, while it had the new cheaply made stainless steel appliances, ceiling was low, small, and moron wanted $400,000 for this garbage. It had no parking. So in the end, there is money to be saved by renting. Then wait until all the other people loose their properties, then look. It's WAY early in the game.
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Drew Hitt, , Virginia Beach, VA
Tue Jul 29, 2008
Subscribe to the Virginian-Pilot, and yes there are about 5 attorney sites you could check. It works wonders, I myself use both to find foreclosure to pursue. While it is true, about 1 in ever 20 properties that go into foreclosure and are scheduled for auction aren't worth pursuing, truly only 4 out of 20 probably ever make it to sale. And no they aren't overvalued and have no equity when they go to auction, (real estate is local, and he replied from Northern Virginia), it's just they don't have enough room to buy and fix and resell to make a profit. For homeowners looking for a place to live it might work, but there are things you need to realize. Like the fact you probably won't see the inside of the place before you bid on it. The fact you need 10% in cash to even bid at the auction, or the fact you have to close sometimes in 15 days or you forfeit your deposit. I buy homes in Hampton Roads that are in foreclosure and that's mostly how I find my leads. RealtyTrac is mostly outdated because our auction times are very quick here in Virginia. But if you've got the free time and could muster up the courage to knock on someones door that is in foreclosure that has equity to buy, I'd be willing to supply those leads to you. Email me if you're interested.
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KK German, Agent, Virginia Beach, VA
Wed Jul 23, 2008
Leah, Samel I White is a lawyer that does a lot of foreclosures. The site's a little cumbersome, but you can check out by day what's up for sale in Virginia Beach (he's located in VB), and also in the entire state.
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Wendy Dittri…, Agent, Virginia Beach, VA
Tue Jul 15, 2008
You could pick up a local newspaper and check the (real estate) "notices".
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J Paul Picco…, , Virginia Beach, VA
Tue Jul 15, 2008
The Virginian-Pilot has a section dedicated to foreclosure notices but, as Vicky already mentioned, they tend to be purchased by the bank. I could provide you with a list of bank owned properties if thats comething that you are interested in? tim@piccolipartners.com. I have them broken down by zip code if it helps...
0 votes
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