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Property Q&A in Orinda : Real Estate Advice

  • All46
  • Local Info8
  • Home Buying15
  • Home Selling1
  • Market Conditions2

Activity 24
Sun Jan 4, 2009
Suzanne Looker answered:
Hi Christine,
I believe you are asking about the outstanding loan amount owed on this property. The tax records show a loan amount of $780,000 in '07. This indicates that the lender may entertain a short sale in the neighborhood of $700,000 or less. Short sales take time, but if you have the patience they can produce a good opportunity to buy at below market value.
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Fri Jan 2, 2009
Dave Sutton answered:
Comparables from the last five years are way too old to be relevant. I appreciate what others said about the difficulty because there are not a lot of homes in that price range. However, any sales more than certainly a year backwould at best serve to establish a high end of a range. ... more
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Tue Dec 23, 2008
Scott Godzyk answered:
There is no special rules or guidelines for financing as long as the house is for sale. This is a realty trac posting stating that the owner is behind in their paymenst and teh bank has goiven them a 30 day notice of intent to foreclose, if they do not pay or make arrangements within the 30 days then a sale date is set, usually 21 days from the expiration of the notice of default. When you see realty trac read the notice carefully to make sure it is for sale. also note the price listed is not an asking or list price, it is what they or or how much they are behind. if teh bank does take it, it will be listed at todays market value. ... more
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Mon Oct 6, 2008
Bob Wegener answered:
Hi Toni,

Do you have any more details on the property in question? I searched the MLS and the foreclosure & preforeclosure listings, and found no property that matches.

If you can either post more info here or email me, I'd be glad to help.
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