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Foreclosure in Parker : Real Estate Advice

  • All76
  • Local Info7
  • Home Buying18
  • Home Selling7
  • Market Conditions3

Activity 5
Fri Feb 24, 2017
Carol Forsythe asked:
Fri Oct 11, 2013
Darrick Gilliard answered:
Hi Jackie, if your realtor does not have access to a list like this then you best bet is to contact the banks themselves and ask if they have any REO's Most of the time they will give you the agent/broker that will have that information for you.

Could be a long process.... and is usually played by the big or $$ players.

Good Luck!
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Mon Nov 28, 2011
Marina Jensen answered:

Actually the net to the mortgagee with your $220K (plus $6K in closing costs) would be closer to $202K. Don't forget the commission for the agents ( just under $11K if at 5%) and the title policy/other seller closing fees (I'm guessing close to $1500 to be on the safe side). I hope that makes sense. Non the less BPO is the most important factor here. I recommend you (through your agent) try and find out the BPO amount. Because that's what the bank will want!

Short sales are emotionally tough and draining, Hang in there!

Marina Jensen
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Thu Jun 11, 2009
Sarah Solomon answered:
Biggest issue with Diamond Ridge is Golden Design... and the Power Lines!

Values in my opinion are destroyed in Diamond Ridge due to the infamous Golden Design Home. I sold one there in January at Auction for 400k- orginal list was 799k, no perception of value in the long run for most home buyers- just because they sold for over a mil doesn't mean they were ever worth it or that one will double their value in five years- because they were purchased by investors who committed loan fraud.

Pradera, now that is a place to buy! 1 Acre Lots Available on the Golf Course! There are deal huge deals there right now! Builder Short Sale- Never Lived in 799k and a New Lovely REO on the Green 685k!! Love the Timbers- if you want to be removed from the crowd 699k for a current active REO. Spirit Ridge- Sold an Amazing property there in 08' - gorgeous home- buyer & lender fraud was the cause of the foreclosure. Have to say I didn't like seeing the Track Homes from the Front Door- not something you would expect to see in a custom community- bad entrance into the community. Sold the property for 720k- high perception of value, it was sold within 30 days. Custom home- truly!

In this market- I would go after something with land- just not Golden Design.

Hope this helps visit my website for REO/Foreclosures Only!


Sarah Solomon
The Lawton Group
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0 votes 7 answers Share Flag
Thu Jun 11, 2009
Sarah Solomon answered:
Hi Kelleu,

Jeff Kroll had some good points! REO or Bank Owned Property is the easiest hands down to deal with. There is no emotionality with the banks, it's just numbers and business. The best deals I have seen happen are buyers purchasing Foreclosed Homes! 50-350k off Value. Good stuff out there- you just need to watch the inventory and be ready to jump on something quickly.

If you want REO go to my website below and click Parker REO- you will nothing but foreclosures!

Best of luck to you!!!

Sarah Solomon
Coldwell Banker REO
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