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Property Q&A in Mather : Real Estate Advice

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Fri May 22, 2009
Sue Archer Reynolds answered:
Realtytrac provides misleading information for you. This posting shows a home on Middlebury that has had a notice of foreclosure filing. A notice of foreclosure filing never lists a notice of auction date on it as this posting does The notice of trustee sale would list the date of auction, and that the foreclosure process had been processed for the necessary 90 days.

Because of this I will not share the actual addresses of homes on Middlebury because it would be misleading. What I can tell you is that there are 65 homes in some stage in foreclosure in the Mather area....from having a foreclosure filed against it (which many are resolved and do not go to sale) to those that are bank owned.

What I will also tell you that is REAL is that there are 5 homes on Middlebury for sale, and there shows 5 homes on Middlebury currently showing a foreclosure activity. I did not match to see if they are the same 5 homes. Realtytrac is misleading. And there are NO homes for sale on Middlebury for $146K.

I think it would be irresponsible to advertise on this public site about a specific address with a notice of foreclosure and make it seem that it is for sale because of that notice.

What I would tell you is that, working with a buyer's agent, you can evaluate homes that are currently on the market, and then possibly look at homes in various stages of foreclosure to see if they would be interested in selling (prior to them coming on the market). That approach requires sensitvity to the homeowner's dilemma so that a potential sale would be a win-win for the parties.

If you would like a report on homes listed in various levels of foreclosure, a realtor such as myself, can work with you on that. I guess the question is, beyond wanting this specific address for a bogus posting, what is your ultimate objective?
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Thu Mar 12, 2009
Sue Archer Reynolds answered:
This home went on the market with MLS on 2/23, and went pending 15 days later. The notice that you are referring to was the original foreclosure notice and doesn't really reflect that actual posting for sale.

It was listed at $279,900 and was a nice home. I know because I had a buyer who made an offer, but during the time of negotiaton, they had found another home that they liked better in the Mather area. This was a multiple offer situation where there were many offers.

I would suggest, if Mather is your area of choice, that you work with a realtor to understand the current market values, and the activity in the Mather area. I know specifically that there are no houses currently on the market in Mather for this price range and amenities. I know because my client is on a client portal for homes similar to this and both are currently in contract. (one by my buyer, then this one). The strategy would be to understand the values of the area, then become familiar with what your interests are.

A realtor can keep you aware should this house become available and fall out of contract immediately so that you could consider it again. In addition, I am aware of bank owned (REO) homes in that area that have not been released to the market. The banks are still holding inventory and we expect themto be released sometime this spring, possibly as early as the end of this month. (The schedule keeps changing). But I have worked with clients specifically to contact the banks for a home my buyer was interested in, prior to it being released to the general market.

If you are not specific to Mather but would consider Anatolia, I know of a home that will be released this weekend to the market, that is a beautiful home. I know this because it was a short sale that my buyer released just last night, after waiting over 3 months, and at the last minute finding a home they liked better. The lender just approved the short sale at the time we had an offer accepted on another home.

It's funny how timing works for this market. That's why you need to be informed on the market that you're interested in, and ready to move when the right property comes along. This property in Anatolia will be a great deal for some lucky, (informed) buyer. The new ones that will be released in Mather over time will have the same level of activity, I'm sure.
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