Can anyone give me some information about this sale? The price seems really good for that it is!

Asked by Newhomebuyer, 95134 Fri Dec 5, 2008

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Matt Irvin, Agent, Walnut Creek, CA
Sat Dec 6, 2008
This property is an REO and was listed for sale through a realtor. As you will find out in your home search most busy REO agents have a hard time returning phone calls, because of the volume of business they are doing. Although I do have a bank owned listing my specialty over the last 12 months has been representing buyers in an REO transaction. For personalized service please contact me regarding the purchase of a bank owned property. 925-300-5855

Matt Irvin, Broker
REO Specialist
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Bernard Gibb…, Agent, Danville, CA
Fri Dec 5, 2008
Hi Newhomebuyer:

There is an interesting story behind this one. After the bank foreclosed on this property they listed it for sale with an agent from the same brokerage I am affiliated with (J. Rockcliff Realtors). I saw it immediately and it seemed like the price was too good to be true. I figured it was probably a typo but a call to the agent revealed the fact that the bank (against the agents advice) listed it for sale at a RIDICULOUSLY low price to make sure that they gor multiple offfers and start a bidding war. No agent likes that scenario!

Anyway, the agent's phone rang off the hook and a sale was quickly agreed with multiple offers. As Carl says, we won't know what the final price was until it closes.

There are bargains to be had out there, mostly bank owned REO properties and you need to be able to move quickly when they get listed. If you want to be among the first to know about homes that may suit you at bargain prices, specially in San Ramon, let me know. This is my main area of specialization.

Good luck in your search.

Bernard Gibbons

Bernard Gibbons, Realtor, e-PRO Certified Internet Specialist
J. Rockcliff Realtors, 15 Railroad Avenue, Danville, CA 94526
Phone (925) 997-1585
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Suzanne Look…, Agent, Lafayette, CA
Fri Dec 5, 2008
Hi Home Buyer,
Investors and 1st time homebuyers are gobbling up good priced homes very quickly. I can put you on a MLS instant search if you are interested in finding great deals the moment they hit the MLS.
Suzanne Looker
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The Medford…, Agent, Fremont, CA
Fri Dec 5, 2008

That was the price the bank purchased it for at the Trustee’s Sale on the courthouse steps. It is considered the “wholesale” price. It went on the public market on 11/18 for the low price of $510,000 and immediately garnered multiple offers. It is now pending. We don’t know the final sales prices as of yet because it has not yet closed.

Let me know if you’d like any additional information.
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