CRR Blog

5 Bedroom Home under $150,000.00 !!!! Just Yesterday......

5BR/3BA Home at 435 E. 109th St. in Los Angeles, CA....


Value:  $241,500.00  Est Bid:  $482,526.00   sold for only....  $139,900.01   !!!!!

3 San Diego Sales from Yesterday.......

2BR/1BA CONDO at 1687 Pentecost Way #6 in San Diego...


Value:  $74,000.00  Est Bid:  $222,802.00    Sold for...     $48,100.00   !!!


2BR/1BA CONDO at 194 Avenida Descanso #A in Oceanside...


Value:  $124,500.00   Est Bid:  $311,355.00   Sold for...    $90,600.00   !!!


2BR/BA Home at 505 59th St. in San Diego....


Value:  $165,500.00   Est Bid:  $350,141.00  Sold for....    $105,000.00   !!!

4 Properties from Friday's Sales in Los Angeles County.....

2BR/1BA Home at 713 N. Tamarind Ave. in Compton...


Value:  $158,500.00  Est Bid:  $426,733.00  .....  Sold for $81,206.96


2BR/1BA Home at 1423 E. Poppy St. in Long Beach....


Value:  $193,000.00  Est Bid: $234,080.00  ......  Sold for $75,300.00


2BR/1BA CONDO at 21800 Scoenborn St. #319 in Canoga Park...


Value:  $129,500.00  Est Bid:  $177,957.00  ....   Sold for $50,000.01


1BR/1BA CONDO at 8800 Cedros Ave. #113 in Panorama City...


Value:  $125,500.00  Est Bid:  $178,591.00  ...    Sold for $41,250.01


 

3 Homes under $100,000.00 just yesterday.....

2BR/1BA Home at 3371 Jennie St. in Riverside...


Value:  $101,500.00  Est Bid:  $225,109.00   Sold for only....   $60.486.01   !!!!


2BR/1BA Home at 26125 Shadywood St in Sun City...


Value:  $96,500.00  Est Bid:  $182,040.00   Sold for only...      $62,370.01   !!!!


3BR/2BA Home at 81220 Red Bluff Rd in Indio....


Value:  $124,500.00   Est Bid:  $352,522.00   Sold for only....  $92,7000.00   !!!!

Yesterday's LA County Sales... Here are two examples of what you missed...

REO:  Bank Owned Property Because no one bid....


3BR/2BA CONDO at 5 Vaquero ln in Carson...


Value:  $246,50.00   Est Bid:  $255,620.00   sold to the lender for only...  $92,623.68   !!!!!


Sold 3rd Party:  Bought by a Prepared and Ready Bidder....


4-Plex in Los Angeles/Glendale Area....


Value:  $934,320.00  Est Bid:  $637,000.00  sold to lender for only....       $392,500.00   !!!!


Note that in both situations the property had a great deal of equity, literally more equity on paper than the purchase price of the property.  A wise bidder looks for these opportunities to capitalize and gain instant equity to either borrow money out of the property or sell the property for an instant profit.  No matter what your final goal, buying a property is a simple matter of being able to spot a deal and being prepared to buy it when it comes.  Come to our seminars to learn more.

3 great buys from last week.... at the courthouse steps....

2BR/1BA Home at 17824 Reed Street in Fontana...


Value:  $111,500.00  Est Bid:  $319,699.00  sold for only...   $67,500.01   !!!


3BR/2BA Home at 7968 Bangor Ave. in Hesperia....


Value:  $128,500.00  Est Bid:  $351,665.00  sold for only...   $81,000.01   !!!


2BR/1BA Home at 11710 Cedar Ave. in Bloomington....


Value:  $76,500.00  Est Bid:  $234,115.00  sold for only....     $60,750.01   !!!


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2 REO's that were missed and 2 Deals that were caught at the Courthouse Steps....

Beginning investors may often look at the loan amount or Estimated Minimum Bid when they sort through the properties which are on on their way to the Trustee's Sales.  They can believe that the Est Min Bid is the sale price at auction. This is true if the amount owed is LESS THAN the property's Current Market Value (the Zestimate on our site). But it does not hold true when the amount owed is Greater Than the property's Current Market Value.  When you see the number of dropped or reduced opening bids that occur at the auction each day, you begin to understand that the best way to guesstimate the opening bid is to go by previous auction results on similar properties in recent days.... which can be found by searching REO Properties or Sold 3rd Party Properties on our website.  Each day, the best and most current information is what happened yesterday.  The past repeats itself.  REO managers are creatures of habit like the rest of us, and they are acting within guidelines.  Once you begin studying the recent sales, you will begin to see the patterns and discover clues as to which lenders are discounting and which areas are more prone to these discounts. 


Note that there are always notable exceptions where a property is discounted even more than usual.  You will be ready for these if you have a larger list of target properties for each sale.  Just broaden your search so that you are catching more properties in a larger net.  If you are ready at the auction, when the lender makes a drop bid price below your expectations...  Then you will be a winner at auction too.  Just look at the examples below of deals missed and deals won.


 


REO's:  Properties discounted at auction that no one was prepared to purchase....


3BR/2BA Home at 2307 Rosewood Ave. in Lancaster...


Value:  $86,500.00  Est Min Bid:  $233,616.00    sold for only....    $60,060.00   !!!


2BR/2BA Home at 119 W. Kettering St. in Lancaster...


Value:  $74,500.00  Est Min Bid:  $199,967.00      sold for only...    $40,000.00   !!!


 


Sold 3rd Party:  Properties which sold at auction because someone was prepared to purchase....


3BR/2BA Home at 4831 35th St. in San Diego....


Value:  $588,000.00   Est Min Bid:  $454,234.00     sold for only....   $379,000.00   !!!


Duplex at 757-759 N. Grape St. in Escondido.....


Value:  $279,000.00  Est Min Bid:  $374,479.00       sold for only...   $177,800.00   !!!


 

Where were you when these deals went down yesterday?

3BR/2BA Spacious Home at 5356 Doris Way in Torrance....


Value:  $856,935.00  Est Bid:  $616,935.00  sold for only...      $325,000.00   !!!!   Wow!!!!


3BR/2BA Home at 2904 Webster Ave. in San Diego....


Value:  $287,000.00  Est Bid:  $490,665.00   sold for only....    $150,100.00    !!!!


3BR/2BA CONDO at 47-395 Monroe St. #251 in Indio....


Value:  $137,000.00  Est Bid:  $90,781.00     sold for only....     $63,966.61      !!!!

2/9/10 Auction Highlights.....

On 2/9/10 there were a number of good buys...  Here are three examples....


4BR/2BA Home at 13401 Mountain Top Dr. in Desert Hot Springs...


Value:  $145,500.00  Est Bid:  $175,500.00  sold for only...    $72,757.81   !!!!


3BR/1BA Home at 24128 Atwood Ave in Moreno Valley....


Value:  $105,500.00  Est Bid:  $87,429.00  sold for only....     $57,000.00    !!!!


3BR/2BA Home at 1637 Trinity Way in San Jacinto....


Value:  $132,000.00  Est Bid:  $305,223.00   sold for only....    $90,000.00   !!!!

2 Houses, a CONDO, and Triplex.... 4 Deals purchased at LA County Trustee's Sales just yesterday....

2BR/1BA Home at 312 W. 88th Pl in Los Angeles....


Value:  $186,000.00  Est Bid:  $427,473.00  sold for only....     $83,600.00    !!!!!


3BR/1BA Home at 131 E. 62nd St. in Los Angeles....


Value:  $114,577.20  Est Bid:  $407,444.00  sold for only....     $114,577.20   !!!!!


7BR/4BA Triplex at 3220 E. 5th St. in Los Angeles....


Value:  $330,000.00  Est Bid:  $367,237.00   sold for only.....   $161,000.00   !!!!!


3BR/2BA CONDO at 8551 Burnet Ave #C in North Hills....


Value:  $158,000.00  Est Bid:  $267,791.00  sold for only.....     $97,500.00     !!!!!


There are deals each and every day.  They are there if you are.

3 under $60,000.00 from last Friday's Trustee's Sales.....

4BR/2BA Home at 16735 Sunset Dr. in Victorville....


Value:  $102,500.00  Est Bid:  $290,367.00  sold for only....  $42,750.01  !!!!


2BR/1BA Home at 260 East 9th St.  in San Bernardino....


Value:  $94,500.00  Est Bid:  $226,162.00  sold for only....    $40,100.00   !!!!


2BR/1BA Home at 13680 Estelle St. in Corona.....


Value:  $112,000.00  Est Bid:  $329,446.00  sold for only....  $51,288.61   !!!!

San Bernardino and Riverside Counties are always on sale these days......

The following six properties are examples of the daily bargains that lenders are creating at auctions being held at the courthouse steps.  Note that these are homes and not condo's or vacant land.  Note that these are in multiple cities and with various lenders.  Note also that we are finding such deals each and every week day.  There are a lot of postponements these days, which could cause you to lose heart if you don't have a strategy for auction preparation that accounts for that.  just make sure you apply a simple approach that starts with a larger number of properties and allows you to have an ongoing list of targets.  You may find that after a few weeks you literally have a dozen or more target properties at each of a number of upcoming sales.  You can then look for additional properties scheduled to sell at the same location and time, and add them to your target list to fill it out for each sale you plan to attend.  The greater number you track, the greater your odds of a succesful, low , winning bid.  Good Luck!


3BR/2BA Home at 10987 Live Oak Lane in Adelanto....


Value:  $71,000.00  Est Bid:  $259,187.00  sold for only....  $49,764.01   !!!


2BR/1BA Home at 7180 Dwight way in San Bernardino....


Value:  $73,500.00  Est Bid:  $255,571.00  sold for only...    $45,000.01   !!!


3BR/2BA Home at 7106 Perris Hill Rd. in San Bernardino....


Value:  $137,500.00  Est Bid:  $400,747.00  sold for only...   $77,800.00   !!!


2BR/2BA Home at 341 W. 5th St. in San Jacinto...


Value:  $95,500.00  Est Bid:  $236,160.00  sold for only...     $59,200.00   !!!


3BR/3BA Home at 24292 Nicole Ct. in Moreno Valley...


Value:  $136,500.00  Est Bid:  $340,780.00  sold for only...   $92,158.00   !!!


3BR/2BA Home at 830 Yorkshire Ln in San Jacinto....


Value:  $105,500.00  Est Bid:  $255,353.00   sold for only.....  $85,008.01   !!!!

8 examples of low price bargains at yesterday's trustee's sales....

The following are the results of sales held yesterday in various counties.  Lenders are willing to discount these properties at auction, sometimes to many times below what was owed, and substantially below market value.  These properties go to sale and are bid upon by the lender (opening bid).  If no other bidder appears, the lender is the winner of the auction by default and the property becomes an REO.  If a bidder appears, they need only bid 1 cent above the bank's opening bid.  If there are no additional bidders, then that is enough to win ownership of the property.  If there is another bidder present, then she/he will bid above the other bidder.  The bidders then top eachother's bid back and forth until one bidder quits.  The remaining high bidder is the winner.  Some of the examples below were single-bidder sales, while others were competetive.  When you see a purchase price that ends in .01, that usually means that the bidder who won only had to bid one time, beating the bank's opening bid and becoming the property owner.


2BR/1BA Home at 213 E. Elm in Compton...


Value:  $145,000.00  Est Bid:  $311,021.00  sold for only....    $85,000.00   !!!


3BR/2BA Home at 12606 S. Manette Pl. in Compton...


Value:  $264,000.00  Est Bid:  $360,690.00   sold for only....   $153,920.50  !!!


2BR/1BA Home at 1613 N. Grandee Ave. in Compton...


Value:  $172,000.00  Est Bid:  $364,080.00   sold for only....   $120,000.00   !!!


2BR/1BA Home at 7016 S. San Pedro St. in Los Angeles...


Value:  $229,500.00  Est Bid:  $468,292.00   sold for only....   $90,000.01    !!!


1BR/1BA Home at 3467 Amethyst St. in Los Angeles....


Value:  $238,000.00  Est Bid:  $366,451.00   sold for only....   $130,500.00   !!!


3BR/2BA Home at 21731 Kuder Ave. in Perris....


Value:  $156,500.00  Est Bid:  $266,162.00   sold for only...    $52,300.00    !!!


3BR/2BA Home at 15096 Osceola Rd. in Apple Valley....  


Value:  $118,500.00  Est Bid:  $226,026.00    sold for only....  $79,318.00    !!!


4BR/3BA Home at 6315 Berry Patch Way in Las Vegas....


Value:  $215,000.00  Est Bid:  $234,433.00     sold for only....  $118,100.00   !!!

San Bernardino and San Diego Counties yesterday under $100,000.00 !!!

2BR/1BA Home at 2868 Genevieve St. in San Bernardino....


Value:  $125,500.00  Est Bid:  $255,777.00  sold for only....   $75,000.01  !!!!


4BR/2BA Home at 1247 W. 8th St. in San Bernardino....


Value:  $98,000.00  Est Bid:  $242,303.00  sold for only...      $61,200.01   !!!!


2BR/2BA CONDO  at 1000 Estes St. #51 in El Cajon....


Value:  $117,000.00  Est Bid:  $252,348.00   sold for only....  $86,500.00   !!!!

San Bernardino County on Sale....

3BR/1.5BA Home at 15972 Holly Dr. in Fontana....


Value:  $146,500.00  Est Bid:  $305,254.00  sold for only....    $99,153.91   !!!


4BR/2.5BA Home at 15828 Desert Poppy Ln in Victorville...


Value:  $144,000.00  Est Bid:  $292,808.00  sold for only....    $96,000.00   !!!


3BR/2BA Home  at 1208 E. Elizabeth St.  in Barstow....


Value:  $97,000.00  Est Bid:  $166,941.00  sold for only....     $25,500.00   !!!


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