Property Q&A in Montclair>Question Details

Marci Collet, Home Buyer in 90272

Why this property is that cheap and how can I get info?

Asked by Marci Collet, 90272 Mon Mar 2, 2009

This question is about this property:…

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Hi Marci,

The information you are seeing is taken from a source called RealtyTrac which publishes the defaulted amount Listed on the Notice of Default not the amount the home is, may, or will be sold for. I did some checking about and tried to locate this property to see if it is currently listed or has been listed for sale.

This service exists to sell subscriptions to itself and the information that they offer may be accurate as to the defaulted amount (amount the homeowner/borrower is behind) but it does not accurately reflect whether the property is listed for sale, is going to be listed for sale or the amount the property will be sold for.

If you think about it, if there were really homes readily available in this area where the median home price is still in the $250 - 300,000 range, for a fraction of a cent on the dollar, doesn't it stand to reason that there would be folks lining up in droves to snap them up?

At this point, I can not locate a property that fits this home's general description. If you are looking to find a home in Montclair, I would be happy to help you with your search. I will tell you that finding a home in this area for $19,000 is extremely unlikely, but there are some good deals to be had.

I hope this helps some. Thank you for asking the question.

Take care and have a great day!

Tisza Major-Posner, Realtor, IVPG Realty (909) 837-8922
Web Reference:
1 vote Thank Flag Link Mon Mar 2, 2009
Thumbs up,Tizsa for your answer. i have gotten so tired of giving the detailed Realty Trac explanation after about 100 times that I really appreciate someone else providing the true picture.
0 votes Thank Flag Link Mon Mar 2, 2009
This is not a listing,it is a Realty Trac posting of a notice of default. This property is not yet on the market as it has not yet foreclosed. (That could take up to a year & might not happen at all) $19K is not the sale price,it is the amount of outstanding loan balance or default. If and when this property does foreclose,it will be listed at market value based on neighborhood comps at that time.
0 votes Thank Flag Link Mon Mar 2, 2009
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