how could this property worth so much sell for 25,000 and how can I get a deal like this?

Asked by shaack2001, Huntington Beach, CA Sat Jun 15, 2013

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Mon Jun 17, 2013
I would like to get a deal like that too.

It appears to be more than meets the eye. Looked it up on title, it says the selling price was $25,500 but there was an existing mortgage of the seller for $900,000. Maybe they did some kind of a wrap around mortgage?

It appears the seller is some sort of a celebrity or something, doing as some sort of a mortgage expert. It appears he has two mortgage web sites designed to to fight mortgage fraud but then I found something with someone with the same name was charged in a massive mortgage fraud case, not sure if it is the same person. There is definitely more to the story.
0 votes
Tony Cannon, Agent, Carlsbad, CA
Sun Jun 16, 2013
Yes, the sale price was recorded as $25,500. Not sure why that happened as the MLS sales price shows as $925,000 and the buyer's new loan amount is over $900,000. The listing agent was also the seller and it was never marketed for buyers in the MLS. Just chalk it up to some clerical error.

There are some buyers who get a great deal on a home, but usually it comes from a lot of time and effort to find those deals.
0 votes
Cindy Davis, Agent, San Diego, CA
Sat Jun 15, 2013
That sounds like a huge typo to me...nothing in Carlsbad sells for that amount!
0 votes
Gary Hofmann, Agent, Carlsbad, CA
Sat Jun 15, 2013
The Whitewater property sold recently for $925,000, not $25,000. If you contact me at 928-821-1744 I can help you with similar properties in the area. I specialize in short sales for sellers and buyers.
0 votes
Fred Herman, Agent, Staten Island, NY
Sat Jun 15, 2013
that's a good deal. But I opted for an investment property, a bridge in Brooklyn for only $10k???

Do you think someone/anyone that has something valued at $250k is going to sell it for $25k?

find an agent to help you.


good luck
0 votes
Tiffany Boyd,…, Agent, Carlsbad, CA
Sat Jun 15, 2013
If it sounds too good to be true, it probably is. I know this street well, and surely nothing is in that price range. You sound like you need to contact a Realtor to help you find foreclosures, short sales, and what you consider "deals" :)
The first step is to identify what you want and what you need.
Good luck.
Tiffany Boyd, Realtor
KW Carlsbad
0 votes
shaack2001, Home Buyer, Huntington Beach, CA
Sat Jun 15, 2013
the address is 7052 whitewater st Carlsbad ca 92011
0 votes
Steven Ornel…, Agent, Fremont, CA
Sat Jun 15, 2013
Hi shaack2001,

I would just caution you if the property listings is from RealtyTrac, which is a company who advertises "foreclosure listings" on Trulia. RealtyTrac's primary objective is to separate you from your $$$ in exchange for providing information most any Realtor® can provide you for FREE.

Please see:

MLS Data Accuracy – Where to search if you’re “without Realtor®”
http://tinyurl.com/ctr4d44

Here's a quick diagram explaining the process of actually getting to the status of an actual foreclosure (I suspect the property above is on the very first step and may never become a foreclosure):
http://www.foreclosureradar.com/foreclosure-guides/foreclosu…

As far as having the most up to date listing information for ACTIVE listings team with a local Realtor® who can set you up with an automated search for what you can afford.

-Steve
0 votes
Thank you
Flag Sat Jun 15, 2013
thank you
Flag Sat Jun 15, 2013
Gary Hofmann, Agent, Carlsbad, CA
Sat Jun 15, 2013
What is the address? It might have been sold for back property taxes. Can't knofw for sure without the address
0 votes
7052 whitewater st Carlsbad ca 92011
Flag Sat Jun 15, 2013
fiel barrow, Agent, San Diego, CA
Sat Jun 15, 2013
Hi Shaack2001,
Do you have an address, MLS number or APN number? I can use that to get more information on the property.
Thank You,
Fiel. Barrow
Fielbarrow@gmail.com
619-253-4607
0 votes
7052 whitewater st Carlsbad ca 92011




7052 white water st ca 92011
Flag Sat Jun 15, 2013
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