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Val Evans, Home Buyer in East Oak Hill, Austin,...

Can anyone find me some more info on this property?

Asked by Val Evans, East Oak Hill, Austin, TX Mon Dec 21, 2009

(photos, details, mls #...anything will help!)

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This question is about this property: http://www.trulia.com/foreclosure/price/2008283906--Kachina-…

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Answers

6
Val,

Taylor is correct about the foreclosure. However, be very cautious in your foreclosure hunt if you are unexperienced in this type of real estate game.
The value of the home is probably not $417,000, that is just the Travis Country Appraisal District's value, and is highly likely to be way off!
Therefor, your immediate equity in the property may not be what you imagined.

"True Market Value" is where your equity will be determined, and as a foreclosure, it's possible that the home has features that will play a significant role in a lower "market value".

For example, buyers are very picky right now, simply because there aren't that many buyers for the amount of inventory available right now, so they get to pick and choose. This particular home is actually the largest floorplan in it's area, whereas the average home is only $2500 sq.ft.

Having the largest home in the neighborhood is not good for resale value and that would play a significant role in your projected equity returns (in any market, especially this one).

Additionally, the LOT that it sits on is larger than most, however it's only larger in the front yard as it sits on a bend in the street, giving the backyard a possible odd feeling. Again, impacting your resale value.

Many other factors will play a role in the market value of this home, and therefore your "true equity" when buying this home, so again, if you are not a seasoned investor.... be cautious!

If you'd like to team up with me on your home search, I'd be happy to show you the ins and outs. I make a living by showing Clients like yourself higher returns and greater pride in their home ownership. Not only does it not cost you any money to have a relationship with me, but it actually puts money directly into your pocket when you "Buy Right" and "Sell High".

Feel free to call me or email me for any general discussions any time. And be careful out there!

ShawnMon
1 vote Thank Flag Link Mon Dec 21, 2009
The only info I found is a property at 4214 Kachina that was posted for foreclosure sale on 12/1/09. But, I did not find any reference to it on the Travis County foreclosure postings for December.
The $173,400 shown on your link only refers to the original loan amount. It does not take into consideration any other liens that might exist on the property...such as tax liens, refinancing liens, mechanic's lien, hoa lien, etc.
I don't know if this is the property for the link you provided. At this time this property is not actively marketed for sale on our Realtor database.
The property is located in Village Park of Travis Country in SW Austin just off Southwest Parkway and MoPac So./290W. It is an established neighborhood. Designated schools for the area show to be AISD, Oak Hill Elementary, O'Henry Middle School and Austin HS.
Let me know if I can be of further assistance to you.
0 votes Thank Flag Link Mon Dec 21, 2009
Val, this property is actually not listed in the MLS as it's a foreclosure property. So, I do not have pictures of the property. However, I do believe that it was not sold in December, so it will be back on for the January 2010 Foreclosure Auction.

At these auctions, you must pay cash (well, cashier's check) for the full amount of the home sales price. It will be starting at around $173,000. But . . . it's worth around $417,000. So it' s a great buy as far as equity. Remember, always research the liens on the property if you buy it at a foreclosure auction, because you don't want to get stuck with someone else's balance because it survives foreclosure.

Email me at TaylorShults@Gmail.com, I will email you back the information of the attorney that is handling this home if you are seriously interested in it.

I also attend every foreclosure auction, so if it does not get bought again, I can always try to contact the bank that holds the note on this house and see if we can get you a loan for the property? Just an idea as well.

Hope this has been helpful, good luck Val! Feel free to contact me with any questions, I'd be happy to help!

Taylor Shults, Realtor, GRI
taylorshults@gmail.com
(512)667-4738
0 votes Thank Flag Link Mon Dec 21, 2009
After digging a bit - I found this property has more than likely already sold since the auction date was 12/1/09. However, it was never posted in MLS. This "pocket listing" is not that uncommon for foreclosures.

With that said, if you are not already working with a realtor, I would be glad to help you locate a home.

Take care.
0 votes Thank Flag Link Mon Dec 21, 2009
Dear Val,
At the moment this property is not listed in the Multiple Listing Service as being for sale.

Betina
Betina Foreman Realtor
Keller Williams Realty
Austin, TX
0 votes Thank Flag Link Mon Dec 21, 2009
Hi Val, If you could e-mail me your personal e-mail address - I would be glad to send you over more detailed information on the listing.

codyjulian@gmail.com

Thanks!

Cody B. Julian, Realtor®
"You have a friend in Austin!"
Proudly affiliated with Team Joe Williams
http://www.CodyJulianRealtor.com
codyjulian@gmail.com
cell 512.318.0075
fax 512.343.8013
0 votes Thank Flag Link Mon Dec 21, 2009
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