Chris Koo, Home Buyer in Los Altos Hills, CA

who do I contact to see more? is this a home or lot? no address? thanks, chris cchrisna@gmail.com

Asked by Chris Koo, Los Altos Hills, CA Sat Mar 26, 2011

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This question is about this property: http://www.trulia.com/foreclosure/3041863607--Elena-Rd-Los-A…

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4
Andrea Wince…, Agent, Milpitas, CA
Sun Mar 27, 2011
Hello Chris, this is vacant land in preforeclosure status. To the right of the default amount it says "what's this" and then goes on to explain....."Total amount of missed loan payments from the borrower to the foreclosing lender. This is what a buyer would need to pay just to bring the loan current and stop the foreclosure proceedings, but it is probably not the full consideration amount the buyer will need to pay to purchase a pre-foreclosure property."

According to the MLS, currently, there are 16 residential lots for sale in Los Altos Hills. They range in price from $749k up to $19.5m and range in size from approx 1ac. up to approx. 20ac. One of which is on Elena Rd. If you would like me to email you the list, please contact me through my Trulia profile. Kind regards.
0 votes
Norman Aless…, Agent, San Jose, CA
Sun Mar 27, 2011
Hi Chris,
I agree with Daniel, in checking this property on mls there is NO such listing. Also you have to look at the fact that other lots in that area average over 1-2 million in value or MORE, so there is NO WAY a bank would even look at $50k as a price. That price is just the amount of the loan the owner is behind on.
If you haven't already please get with an agent that will help you find what you are looking for.
There are many of us here on trulia who have the knowledge and expertise to assist you.
At your service,
Allyson
408-705-6578
allyson@homesbyallyson.com
Dre# 01397256
0 votes
Daniel Berman, Agent, Palo Alto, CA
Sun Mar 27, 2011
Chris, these RealtyTrac profiles are somewhat misleading, as they often lead people to think that they are equivalent to listings, available at the dollar amount given on the profile.

All a "pre-foreclosure" listing such as this means is that the borrower is late with a payment. It does not mean that the property is available for sale or will necessarily be available for sale and it certainly does not mean that the property is available for purchase at the dollar amount of the default.

If you want to save time and money, you would be wise to work with a broker who could educate you in this regard and work out a plan for you to acquire whatever it is you have in mind.

Regards,
Dan

Daniel Berman
Pacific Century Realty
Buyer Rebates to 50%
Listing Commissions as Low as 1%
Multilingual Services
0 votes
John Souerbry, Agent, Fairfield, CA
Sun Mar 27, 2011
Chris,
This is vacant land, about 1.27 acres.
0 votes
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