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Property Q&A in Penryn : Real Estate Advice

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  • Home Buying1
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Activity 8
Thu Sep 1, 2016
Maricris A answered:
Hello,

It appears that the property you are interested to is in foreclosure status on Trulia. Trulia is a platform for consumers to browse housing information as well as a tool for home owners and agents to list their properties. If a listing is foreclosure or not, it is up to the listing owner to update the status of that property. The status of the listing is unclear to us because it is in the hands of the listing owner.

If you want to know more information about the foreclosure property, you may check the county record where the property is part of or you may also contact a foreclosure specialist near your area for assistance.

You can take advantage of our vast network of agents here on Trulia. You may found the link below.

To search for a foreclosure specialist using our site:

1. Go to the link that I provided, enter the location where you're at and click enter.
2. Click the 'More filters' button and choose 'Foreclosure' under specialties.
3. Click the 'Search' button.

We hope your experience with Trulia is memorable and thank you for using Trulia for all your real estate needs.

For future reference, you can feel free to contact us about this type of inquiry through our contact form here:

http://www.trulia.com/help/ask/


Regards,

Maricris
Consumer Care Advocate
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0 votes 1 answer Share Flag
Fri May 9, 2014
clark asked:
Was the nane Wright??

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This question was asked from this property: http://www.trulia.com/homes/California/Penryn/sold/5622764-6350-Jasper-Rd-Penryn-CA-95663
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Wed Apr 23, 2014
Laura Mohoff answered:
Depending on the property location, you may hear the train rumble by, or possibly sound the horn. I live in Penryn, and hear the train horn a couple times in 24 hour period. Hope this helps! ... more
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Fri Jul 9, 2010
Teri Andrews-Murch answered:
late update: sold as an REO in Jan 2010 for 980,000 per Metrolist (only 21 days on market)
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Wed Nov 18, 2009
Lisa Welsh answered:
Hi mom 5 - this is an old post but wanted to know how things were going. Did you move forward with the loan modification. A loan modification is something that you can try yourself and if it doesn't work, find a professional that will help you. Also, be careful of up front fees, they are now illegal. They can collect them but they cannot be cashed. Have you looked into any other options? You should be informed about all you options and ramifications before you do anything. If you are current, even talk to an experienced agent or HUD to find out your options. You are welcome to call me - no pressure no sales pitch, just real options for real issues. Good Luck. ... more
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Sat Oct 3, 2009
Jim Walker answered:
The referenced lender owned property is not currently listed on the MLS. It was listed earlier in the summer of 2009 for $699,000 then reduced to $649,000. The lender may try to sell it through one of the auctions where they think they can get higher prices than they can through the MLS by suppressing buyer representation. ... more
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Sat Oct 3, 2009
Jim Walker answered:
The referenced posting gives the following explanation;

"HIP HIP HOORAY!!! We have LENDER'S APPROVAL for SHORT SALE at this NEW LIST PRICE!!!! Don't delay, call today and this nearly new custom home on 1.3 acres in Penryn can be yours!!! Home to be sold AS-IS"

Without further investigation, my opinion is that the first pricing at $499K and the second pricing at $475 were not approved by the lender. They don't have to be, just to list it. A seller can list their house for any price they want, ridiculously high or ridiculously low if their agent agrees to list it for the price.

Since short sales cannot close escrow and transfer to a new buyer without the lenders approval, any price other than what the bank eventually approves is meaningless. The act of placing a list price on it at all, then becomes a tool for sellers and agents to use to invite people to look at the house and to make an offer in order to goad the bank into making some kind of counter offer... Until they get an offer on a short sale house the seller and their agent often have no idea whether the bank will ever cooperate to sell the house at value, much less a discount from value. Since the bank won't tell the seller or the listing agent what they will accept, the sellers and agents often list the properties artificially low in order to draw in offer that will then establish the price. The first offer (Especially if it is low) is kind of like bait, thrown out to be sacrificed to a higher offer that is expected to come along once the bank has shown its cards and revealed how much of a hit they are really willing to take
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Tue Sep 23, 2008
Erin Stumpf (Attardi) answered:
No that is not the real selling price...that is "the estimated loan balance" for the loan that is actually in default. That information is per RealtyTrac and has nothing to do with the property's value. It is not currently on the market.

I looked up the property at ForeclosureRadar.com and found all of the details there. The house in question is 2,715sf, 4 beds/ 2 baths and built in 1990...the $63,524 loan is in 3rd position (meaning there is also a first mortgage, and second mortgage in addition to this one). I do not want to publish the property address here, so if you are interested you can email me.
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