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Foreclosure in 94130 : Real Estate Advice

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Activity 86
Sat Aug 21, 2010
The Hagley Group answered:
It would be much smarter for the seller to do a short would affect their credit score less than a foreclosure.
0 votes 11 answers Share Flag
Wed Sep 23, 2009
Jed Lane answered:
I would go to the SF Rent Board if I was you. With a foreclosure sale set for such a short time you need some advice on what are your rights under the lease, San Francisco's and California's law. They might be able to help you with who the property is owned by. If not remember ownership records are public records and you can look them up at City Hall. ... more
0 votes 2 answers Share Flag
Mon Aug 17, 2009
Tony Abad answered:
Very and yes. Scout out the properties you are interested in and talk to a pro.
0 votes 2 answers Share Flag
Fri Aug 14, 2009
Gregory Hayes Garver answered:
Fri Jul 10, 2009
The Hagley Group answered:
I have pesonally purchased, and helped buyers purchase, several "deals." In fact I am closing on one next week where I doubled my oriiganl investment in just 3 months. More than happy to talk to can contact me thru my website if you are interested. ... more
0 votes 2 answers Share Flag
Thu Jul 2, 2009
Grace Hanamoto answered:
Hello Sang, and thanks for your question.

Unfortunately, much as we'd all like to provide you with a legal answer, as Realtors, we're woefully ill equipped to render a legal opinion, and your question is a legal one. However, I think I can steer you towards a department that can answer your questions without charging you any money, and that is to encourage you to contact the Planning and Building Department of the City and the Assessor's office of the County of San Francisco.

You do not need to provide an address in your question, but it's best to learn directly from the professional in each of these departments how to obtain a permit for an already built item, and to determine how this might affect your property taxes. You need to invest some time with the County and City in obtaining an answer, but it will be time well spent (and without charge) to learn how purchasing this property may affect your ability to sell the home in the future, and to maintain certain aspects of the property.

Good luck!!

Grace Morioka, SRES, e-Pro
Area Pro Realty
San Jose, CA
... more
0 votes 4 answers Share Flag
Wed Sep 2, 2009
Peter Brunton answered:
Hello Mscitygirl,

Well, let me start of by saying that this unit is a short sale and is currently already in contract. It has been on the market for over a year. Basically, it would appear that the seller accepted an offer quite some time ago, but they are still trying to negotiate with the bank which can take an extremely long time.

As for pricing, well, there is quite a bit of inventory in South Beach and properties are staying on the market a long time. However, on a short sale usually the asking price is irrelevant because it is up to the bank to determine what they are willing to take even if a seller accepts an offer. Often, agents will put short sale homes on the market at an unrealistic low price to get attention. So, the listing price only really holds weight if the listing agent go it pre approved by the bank.

The least expensive comparable sale I saw at 88 King sold in March of 09 and was 1447 sq. ft, 2bd/2.5ba which is 538 per sq. ft. The sales price for the area is around $765 per sq. ft. At a price of 799k for the unit you are interested in the price per square foot would be $523 per sq. ft. which is not that far away from the other unit that sold. I do believe that #117 is in a little better shape and also includes a patio, which the previous sale did not. So, without having the details of the situation and strictly by the numbers, 799k is possible, but not likely. A solid negotiator always help though!

If you have any questions or would like a more comprehensive analysis please feel free to contact me at or 415 728 5580. I'm very familiar with South Beach and would love to help you out.
... more
0 votes 4 answers Share Flag
Tue Jun 16, 2009
Peter Brunton answered:
Hi Bee505,

Well, the best way is to have a good agent who is constantly monitoring the new inventory coming on to the market everyday. That way, you will know that day if a bank owned property comes on to the market and you can move quickly. The banks also do have websites where they list all of their foreclosed properties for sale; however, that is basically a central database of properties that are being marketed by an agent and are already on the mls.

Another option is something like realquest. You can see properties on this site that have foreclosure activity and then do more research about the current status of that particular property. I know there was a story about "shadow inventory," which is basically inventory of homes that have already been foreclosed but not put on the market in order to not flood the market. Realquest would probably be a good tool to help find these.

Feel free to give me a call at 415 728 5580 or email is you have any questions or would like some assistance.
... more
0 votes 2 answers Share Flag
Sun Feb 21, 2010
Melissa answered:
Hi I am very interested in this business as well. Unfortunately we can't partner up because I am in Southern California. I was wondering if you could share some tips with me? My email address is Thank you!!! ... more
0 votes 7 answers Share Flag
Sat Jun 6, 2009 answered:
If you don't have enough cash to buy a foreclosure home outright, get an agent to guide you through. Even if you do have the cash, you'll probably want representation. Foreclosures auctions are not easy. Bank-owned homes are much more straight-forward. ... more
0 votes 7 answers Share Flag
Thu Mar 5, 2009
Jed Lane answered:
Buying the property by assuming the second is risky. The second can be wiped out if the first forecloses. Check with an attorney, but it would seem to me that all you are buying when the second is auctioned is the note. If the borrower defaults on the first you could be in position to pay the first and then have title ot the property after you foreclose on the borrower.
So you get no title, only a note with a recoded lein when you buy the second and the first can wipe you out. If you proceed get a steep discount and be prepared to litigate.
... more
0 votes 1 answer Share Flag
Thu Feb 26, 2009
Jeff Woo answered:
Trying to find the right attorney is a bit like finding a good hair cutter or auto mechanic. You can seek referrals from trusted friends or other sources, but ultimately, you have to work with one to really know if he or she is the right attorney for you.

Some thing I recommend people who come to see me seek to determine is:
1. Does the attorney understand my sense of risk?
2. Do I feel rapport with him?
3. What is his experience with the particula subject matter?
4. Is the attorney able to give me a sense of the cost of my litigation?
5. Is the attorney able to give me a sense of the risk of my litigation?

There are many attorney in San Francisco who I'm sure could help you. While your description is understandably vague, be prepared to provide the attorney the following information to allow him to evaluate your case:

1. Amount of your actual "out of pocket" damages you suffered
2. What tangible evidence you have of the defendant's wrongdoings (as opposed to your opinion or belief of what the defendant thought, intended, or did.)
3. Written timeline or chronology of events you believe are relevent in your case.
4. Copy of relevent documents k
5. List of witnessess with contact information

Good luck.

Jeffery Woo, Esq.
Sedgwick, Detert, Moran & Arnold LLP
Complex Rental Property Group
... more
0 votes 0 Answers Share Flag
Sat Feb 7, 2009
Dana Schuster answered:
This property is not yet on the market. it is in the process of foreclosure. When it does foreclose,it will be listed with an agent at market value. Realty Trac postings are not actual listings,they are notices of foreclosure & default from the public records. ... more
0 votes 2 answers Share Flag
Sun Feb 8, 2009
Rebecca White answered:
0 bedrooms means it could be a studio, but I checked the last time it sold and it shows this to be a 1-bedroom.

Keep in mind that in my experience, RealtyTrac is rarely accurate. The amount shown is more than likely the loan amount as it previously sold for $374,000.

I would imagine that it would list and/or sell for more. This is not currently on the Multiple Listing Service.

... more
0 votes 1 answer Share Flag
Fri Feb 6, 2009
Steven Ornellas answered:
F Eddie, sounds like a great question for a Real Estate Tax Lawyer. This is probably not the best venue for getting such an important question answered.

Best, Steve
0 votes 3 answers Share Flag
Fri Jan 2, 2009
Lance King answered:

From my understanding, Realty Trac, and most of its competitors are mostly about getting people to subscribe to their service. Most of the time when buyers cite a particular property because of super low price, it is never selling for that. My best advice - it's a waste of your time. The old axiom, 'if it sounds too good to be true it probably is," definitely applies here.

If you would like some help, feel free to call.

Best Regards,

Lance King/Managing Broker
415.722.5549 Cell
... more
0 votes 2 answers Share Flag
Tue May 26, 2015
blaison samuel answered:

Sorry to hear about your brother in law, there are 2 things he can do - either go for loan modification if he wants to keep the house and afford the new payment or do a short sale to sell his house. It all depends on his current financial situation. Is it his primary residence or investment property? Please let me know if I can help your brother-in-law with any of the above solution. You can either call me at 510-366-9405 or email me at

Blaison Samuel
Certified Short Sale Specialist

Prudential California Realty
... more
0 votes 8 answers Share Flag
Mon Dec 15, 2008
Lance King answered:
This property shows on the MLS as last being sold in 2004 for $770K. My guess is that an owner transferred an interest in the property, hence it shows as "sold." I see no way a single family home in Bernal sells for anywhere near this low, regardless of forum. If you're looking for something in this price range in the city Bayview and Hunter's Point are about your only options.

If you'd like some help finding properties or no-strings expert advice, feel free to get in touch.


Lance King/Managing Broker
415.722.5549 (cell0
... more
0 votes 2 answers Share Flag
Fri Nov 28, 2008
blaison samuel answered:

If you are looking to buy a foreclosed home then the procedure is normal as the other regular sale. These foreclosed homes comes on the market (the asset manager assigns to their realtors to sell these homes) and you can look at those houses to buy and once you like it, your agent can help to write the offer for you and your agent will submit to the listing agent, which he submits to the bank for their approval. If your offer is good then they will approve your offer. What part of san francisco are you looking to buy? I work in east bay area and can help you to buy a home. You can reach me directly at 510-366-9405 or email me at

If you have any other questions, please don't hesitate to contact me.

Blaison Samuel
Certified REO & Short Sale Expert
... more
0 votes 2 answers Share Flag
Fri Nov 21, 2008
Sally Rosenman answered:
Dear Gregor,

It depends on the bank. The homeowner can negotiate, especially if he/she plans to try to see the property first.

0 votes 3 answers Share Flag
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