Hello, I am interested in this property. What is the address of this property?

Asked by Tahia Moseley, San Francisco, CA Fri Dec 14, 2012

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This question was asked from this property: http://www.trulia.com/foreclosure/3099695995--Byron-St-Palo-…

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8
The Medford…, Agent, Fremont, CA
Sat Dec 15, 2012
Guess what … if the listing has the logo for RealtyTrac ...

Then what you are seeing is NOT an actual listing … it is an advertisement for RealtyTrac.

RealtyTrac is a provider of data for distressed homes. This data is used by investors and Realtors to track distressed homes. When you see the RealtyTrac logo, you are not looking at a home that is actually available for you to buy: what you are seeing at is either (1) the notice of default for one of the mortgages on the property in question, (2) a notice of an impending trustee sale or (3) a notice of a completed trustee sale.

RealtyTrac notices can be very deceptive because they usually give loan amounts, not the purchase price or fair market value. When and if this particular property hits the market, it will be at market price for the neighborhood.

Bottom line: RealtyTrac is trying to get you to sign up for their service.

The following links may be helpful:

When Is The Price Not The Price?
http://bit.ly/p11iq

It’s Too Good To Be True: REALLY – Top 4 Buyer Myths
http://bit.ly/4PKTHT

If you want to know when these or similar properties will actually hit the market, have a Realtor set you up with an auto-feed that will alert you the moment they become active on the MLS.
1 vote
Marcy Moyer, Agent, San Ramon, CA
Sat Dec 15, 2012
Tahia,
It is not for sale. Trulia gets a pre-foreclosure feed from Realty Trac but these are not homes for sale, they are homes that are defaulted on their mortgages. The homeowner can work out a mortgage modification with the bank, pay the back amount due, declare bankruptcy, or sell the home to pay off the bank. In 2012 there were only 4 foreclosures in Palo Alto, 2 single family homes and 2 condos. In 2012 there were 2 short sales, both condos.
So as you can see, the chances of getting a distressed property in Palo Alto are very slim, and since there are so few, getting them at below market value pretty much impossible. One short sale condo listed at $350,000 and sold for $600,000 which was market value.
One single family home that was REO sold for $2,600,000 which was a little below market value, but not much.

Marcy Moyer
Keller Williams Realty
650-619-9285
marcy@marcymoyer.com
DRE 01191194
Web Reference:  http://www.marcymoyer.com
1 vote
Juliana Lee, Agent, Palo Alto, CA
Sun Dec 16, 2012
There are currently 18 houses listed for sale in Palo Alto. There have been 430 houses sold through the MLS in Palo Alto in 2012. These are very low numbers.

This time of year normally has the fewest homes offered but this year has also had fewer people wanting to sell their houses. I can pretty much guarantee that any house offered for sale in Palo Alto has many buyers looking at it.

If you are wanting to get a good deal on a home in Palo Alto you need to work with a very good agent and be ready to act quickly when your agent advises you to.

Trulia can be an excellent way to begin learning about the real estate market but you will not get the best results by looking at Trulia listings then trying to find an agent to make an offer on that house.

I've posted Palo Alto real estate statistics on my web site at
http://julianalee.com/palo-alto/palo-alto-statistics.htm

Also I live about 3 blocks from the home you are interested in. It is in an area of very high demand. Actuallly I've lived in Palo Alto over 20 years and have sold hundreds of homes in Palo Alto.

Juliana Lee, MBA LLB
Cell: 650-857-1000
Top 3 agent nationwide at Keller Williams Realty

Over 20 years experience.
Over 1000 home sales completed in Santa Clara and San Mateo counties.
Web Reference:  http://julianalee.com
0 votes
Lance King, Agent, San Francisco, CA
Sat Dec 15, 2012
Carl is correct. Not for sale, it's realty trac fishing for subscribers.
0 votes
Lynne Mercer, Agent, Palo Alto, CA
Sat Dec 15, 2012
What Marcie says is absolutely correct. I do have the address but don't want to publicize it here because of privacy concerns for the owners. This notice of default was recorded quite recently and it is in the very initial stages of foreclosure. There is a very good chance it will never come up for sale, or if it does, it could be months or longer before it gets to that stage. If you want to discuss further, please feel free to contact me.
0 votes
Stu Carson, Agent, San Jose, CA
Sat Dec 15, 2012
Tahia,

The owners are simply late on their payments by over 90 days and so received a Notice of Default. It could be months, years, or never that it comes to market.

However, since they are struggling they may be interested in selling.

If you contact me by email or phone we can discuss how we might go about approaching the owners and see if they are interested in selling.

Stu
408-209-0849
Stu@StuCarson.com
0 votes
Norman Aless…, Agent, San Jose, CA
Sat Dec 15, 2012
Tania,
Don't be fooled by RealtyTrac, this home is NOT for sale it is only a Notice of default which means that the home owner is behind on payments. The price you see is only the price of the defaulting loan and NOT the price the home will SELL for. Even if you try and make a "deal" with the home owner be aware that the bank is loosing money so they will want the most they can get for the home, they will want market value or very close to it. Make sure you are working with a realtor who is experienced in purchasing these types of homes and can advise you correctly.
Please feel free to contact me with any questions.
At your service,
Allyson
408-705-6578
allyson@homesbyallyson.com
Certified Distressed Property Expert
0 votes
, ,
Sat Dec 15, 2012
Hello Tahia,

I have the information for the Byron property in Palo Alto; if you are interested, please email me (or call or text) and I can answer any questions you may have privately.

Thanks!
-Matt

RE/MAX Bay Area, Palo Alto
650-223-9343
matt@remaxbayarea.com
http://www.REMAXBAYAREA.com
0 votes
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