I would like to find out more about this property. Pricing, etc. please assist me in the next steps

Asked by Debbieggarcia, San Jose, CA Sun Oct 7, 2012

This question was asked from http://www.trulia.com/foreclosure/3082409170--Crown-Blvd-San…

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Steven Ornel…, Agent, Fremont, CA
Thu Oct 11, 2012
Hi Debbie,

I would just caution you if the property listings are from RealtyTrac, which is a company who advertises "foreclosure listings" on Trulia. RealtyTrac's primary objective is to separate you from your money in exchange for providing information most any Realtor® can provide you for FREE.

Please see the blog post below for your "Next Steps" as far as finding properties.

MLS Data Accuracy – Where to search if you’re “without Realtor®”

Now, to move forward you should take step back. Finding the home is not your first step; however, this link will clearly let you know what is: http://www.Steven-Anthony.com/GettingStarted

As far as having the most up to date listing information for ACTIVE listings team with a local Realtor® who can set you up with an automated search for what you can afford.

1 vote
The Medford…, Agent, Fremont, CA
Mon Oct 8, 2012
… 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?

It’s Too Good To Be True: REALLY – Top 4 Buyer Myths

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
Elena Talis, Broker, Palo Alto, CA
Sun Oct 7, 2012
This property is not for sale. Look at the label a bit over the picture of the property and the "Home Facts" tab.
Web Reference:  http://talisrealestate.com
1 vote
charles butt…, Agent, san jose, CA
Sun Oct 7, 2012
Thank you Ms. Garcia for your question:

The property in the link that you have posted is described as a 2,698 square foot home built in 1965 in the Almaden Valley. A property of that size in that location has a fair market value of approximately $1,000,000 and the Fair Market Value is what that property will sell for.

I realize that the link shows a loan amount of $178,000 and that looks like a list price for that property. Unfortunately that is not what the property will sell for. Also, based on that relatively low loan amount that is probably a lon in second position behing a much larger first mortgage which must also be paid off if that property were for sale and if you were to buy it.

If you are serious about buying a home for yourself, your next best step is to select a REALTOR to represent you, and provide you with the information for homes that are actually for sale in your price range that you can afford and also to provide you with accurate information about the fair market value of those homes.

I realize that the link that you are looking at is for homes with notices of default that have been recorded because the homeowner is late on their mortgage payments. The provider of that link is merely soliciting you to pay them for information about properties with notices of default that have been recorded against them.

I realize that the idea behind that link that you saw is to give you and millions of other people the false impression that you can buy these homes for pennies on the dollar. Unfortunately that is not the case. When these homes do become available for sale , they sell for their Fair Market Value just like any other property that is available for sale on the market.

For more information you may reach me at my cell phone: (408)509-6218

Thank you,
Charles Butterfield MBA
Real Estate Broker/REALTOR
American Realty
Cell Phone: (408)509-6218
Fax: (408)269-3597
Email Address: charlesbutterfieldbkr@yahoo.com
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