This house is not a foreclosure. The list price is 749,000.00 as of today. If you are looking to stay under the 300,000.00 price range there are five other homes listed in the 77006 zip code ranging from 259,000.00 to 295,000.00.
I'd be happy to discuss this area with you further.
H & Co. Real Estate
First Imperial Mortgage
If this home was listed in Nov of 2008, it would not reflect yet that it was bank owned on the tax records. That information does not change that fast. Only looking it up personally will show fast and you have to wait for the month after the change.
Now as to the price, I take it you or the person inputting the data meant 273,000. This probably reflect the remaining balance on the first mortgage, if so the lender will purchase the home and resell it at a higher price. This means it will not be on the market for some time.
Many times the properties you see on the foreclosure sited are not available at the time they are posted, they are just going into foreclosure- it depends on how the lender treats it if it is going to be available soon.
They have different ways they can treat the properties and nothing says they have to do one or the other.
And yes I would buy it too for that price, I lived in that area of town in the early 50's as a child and the lot would have cost more then as well Chris. LOL
I'm not from the Houston MLS so I can't answer this question for you, however I can tell you that, in real estate, as in any other arena in life, you get what you pay for. I'm certain that this home isn't $273 because even the lot would be worth more than that. They won't give it away. Even foreclosures tend to be sold for about 80-90% of market value. If they were giving homes away for this there would be a long line of people waiting, including Realtors, as anyone could pick it up for rental property.
Hopefully you will find a great home in good time and get a good price on it!