Thank you for your question:
As the others have pointed out, that notice is merely a notice of default. That is not a listing of a house for sale.
Based on the small loan amount of $30,000 that is probably a lien in second or third position.
What you really need to know is what is the fair market value of the house, if the owner were to decide to sell the house.
The homeowner is fighting to save the home or any equity the homeowner has in the home. The homeowner will not sell the home for any less than fair market value. In this very competitive seller's market that we have, there is absolutely no reason for the homeowner to take any less than the full fair market value.
If the total amount of the liens against the home is more than fair market value, then we are looking at a short sale where the short sale lender agrees to accept less than the total of the loan amount.
However, the asset manager for the the short sale lender will not agree to accept any less than fair market value of the house. The job of the asset manager is to minimize the loss to the short sale lender.
We are currently in a seller's market here in the silicon Valley. Any property that is in even a marginal location will receive multiple offers and overbids for more than the recent comparable sales. the market is currently escalating at a very rapid pace.
There are far more very well qualified people who desperately want to buy homes here in the Silicon Valley, than there are homes for sale. That is particularly true for any home in the 95124 zip code, which is a very desirable area.
If the owner decides to sell the property, all the owner has to do is list the property for sale with a competent, experienced REALTOR. The REALTOR will have multiple offers and overbids for the seller within a matter of days.
There is absolutely no reason for the owner of the property to sell for anything less than fair market value.
The property in the link that you posted is on Laura Drive in the 95124 zip code.
That is a neighborhood that is in very high demand.
There is a particularly active seller's market in that neighborhood.
There are far more well qualified people who want to buy homes in that neighborhood than there are homes for sale in that neighborhood. If the owner of that property decides to place the house on the market, the owner can demand and will get fair market value with multiple offers and overbids within a matter of days.
You really need to select a REALTOR to represent your interests if you expect to have any chance at all of getting your offer to purchase a home even accepted in this runaway seller's market.
Your biggest challenge will be making your offer sufficiently competitive against all of the other offers to even get your offer accepted over all of the other offers from well qualified buyers..
The old buyer's market in the Silicon Valley is long gone.
To get a home in today's market, you need to look at it as if you were approaching a highly competitive job interview for a job that you want desperately.
You need an experienced REALTOR to guide you if you expect to be competitive with your offer, and have any chance at all that the seller will accept your offer over all of the other offers.