CRR Blog |
31 January 2011
1BR/1BA Mountain CABIN at 23658 Scenic Dr. in Crestline... Value: $107,000.00 Est Bid: $154,956.00 Opening Bid: $25,554.60 Sold: $25,554.61 !!! 2BR/2BA CONDO at 3706 Lytle Creek Loop D in Ontario.... Value: $94,000.00 Est Bid: $254,637.00 Opening Bid: $36,822.38 Sold: $36,822.39 !!! 2BR/1.5BA CONDO at 9240 Date St 8D in Fontana... Value: $214,500.00 Est Bid: $187,123.00 Opening Bid: $30,154.50 Sold: $32,100.00 !!!
28 January 2011
3BR/2BA 2005 Ranch Land Home at 5173 Gorgonio Rd in Phelan... one penny over... Value: $161,000.00 Est Bid: $278,020.00 Opening Bid: 83,608.78 Sold: $83,608.79 !!!! 5BR/3.7BA 2005 Large Home on Large Lot at 10957 Fremont St. in Yucaipa... Value: $399,000.00 Est Bid: $459,216.00 Opening Bid: $247,717.80 Sold: $296,000.00 !!! 3BR/2BA Home with Pool at 11620 Kagel Canyon St. in Sylmar... Value: $428,000.00 Est Bid: $437,316.00 Sold: $215,000.00 !!!!
27 January 2011
2BR/2BA CONDO at 644 W. Villa Chaparal Rd. in San Jacinto... Value: $62,000.00 Est Bid: $156,937.00 Opening Bid: $36,450.00 Sold: $36,450.01 !!! 3BR/2BA MH on RanchLand at 33281 Paloma Rd. in Menifee... Value: $158,500.00 Est Bid: $214,792.00 Opening Bid: $86,545.80 Sold: $86,545.81 !!! 3BR/2BA Home at 40958 mayberry Ave. in Hemet... Value: $107,000.00 Est Bid: $54,187.00 Opening Bid: $58,025.02 Sold: $58,025.03 !!! 2BR/1BA Home at 1255 Valencia Ave. in San Bernardino... Value: $75,000.00 Est Bid: $240,600.00 Opening Bid: $38,000.00 Sold: $38,000.01 !!! 3BR/2BA Home at 17739 Los Jardines W in Fountain Valley... Value: $463,000.00 Est Bid: $424,707.00 Opening Bid: $278,400.00 Sold: $304,100.00 !!!
26 January 2011
1BR/1BA CONDO at 550 Orange Ave. #312 in Long Beach.... Value: $124,500.00 Est Bid: $225,049.00 Opening Bid: $100.00 Sold: $73,000.00 !!! 2BR/2BA CONDO at 23509 Maribel Ave. in Carson... Value: $117,500.00 Est Bid: $182,213.00 Opening Bid: $86,852.70 Sold: $86,852.71 !!! 2BR/1BA Home at 66041 1st St. in Desert Hot Springs.... Value: $44,500.00 Est Bid: $76,463.00 Opening Bid: $17,500.00 Sold: $17,500.01 !!! 1BR/1BA CONDO at 400 N. Sunrise Way #206 in Palm Springs... Value: $101,500.00 Est Bid: $159,800.00 Opening Bid: $40,600.00 Sold: 44,000.00 !!! Studio CONDO at 360 S. Kenmore Ave. #110 in Los Angeles.... Value: $161,000.00 Est Bid: $145,404.00 Opening Bid: 80,343.90 Sold: $80,343.91 !!!
25 January 2011
Tri-Plex at 120 W. Frederick St. in Barstow.... Value: $102,000.00 Est Bid: $166,877.00 Opening Bid: $24,200.00 Sold: $24,200.01 !!! 2BR/1BA Home at 401 W. Pottery St. in Lake Elsinore... Value: $76,500.00 Est Bid: $262,986.00 Opening Bid: $24,000.00 Sold: $24,000.01 !!! Du-Plex at 136906 Grant St. in Moreno Valley... Value: $138,000.00 Est Bid: $286,994.00 Opening Bid: $56,000.00 Sold: $58,100.00 !!!
24 January 2011
2BR/2BA CONDO at 222 N. Calle El Segundo #573 in Palm Springs.... Value: $141,500.00 Est Bid: $197,858.00 Opening Bid: $85,100.00 Sold: $85,100.01 !!! 3BR/1BA CONDO at 3048 Sunflower Cir. "E" in Palm Springs... Value: $89,500.00 Est Bid: $165,074.00 Opening Bid: $57,289.50 Sold: $57,289.51 !!! 2BR/1.5BA CONDO at 1380 W. 48th St. #38 in San Bernardino.... Value: $76,00.0 Est Bid: $141,883.00 Opening Bid: $48,300.00 Sold: $48,300.01 !!!!!
21 January 2011
3BR/2BA Home at 31280 San Vicente Ave. in Cathedral City... Value: $279,500.00 Est Bid: $297,890.00 Opening Bid: $96,815.00 Sold: $96,815.01 5BR/4BA Home at 1232 Katherine Ct. Beaumont.... Value: $289,000.00 Est Bid: $422,097.00 Opening Bid: $147,351.60 Sold: $168,100.00 !!! 2BR/1BA CONDO at 7100 Cerritos Ave. #243 in Stanton.... Value: $121,000.00 Est Bid: $256,999.00 Opening Bid: $94,600.00 Sold: $94,600.01 !!!
20 January 2011
4-Plex at1554 N. Soto St. in Los Angeles.... Value: $324,000.00 Est Bid: $515,299.00 Sold: $210,000.00 !!! 4BR/3BA Home at 49250 Jazmin St. in Coachella... Value: $123,500.00 Est Bid: $318,256.00 Sold: $69,246.01 !!! 2BR/2BA CONDO at 16465 Green Tree Blvd. #11.. Value: $92,000.00 Est Bid: $149,521.00 Sold: $32,000.00 !!! 3BR/1BA Home at 2524 W. 1st St. San Bernardino... Value: $77,500.00 Est Bid: $76,348.00 Sold: $44,000.01 !!!
20 January 2011
Most foreclosures are caused by homeowners simply being irresponsible. Period. Most news stories about foreclosures contain misleading stories to present the borrower as a victim. This is almost never true. The bank is usually the victim, and sometimes that bank is an individual who is being punished by losing his/her entire investment because they trusted a person who thinks contracts are like ice cream... easily melted. You may argue against this perspective, but the facts support it, again and again. Take a recent property that sold in Whittier... The borrower showed up to protest the bank on and got on the news to say the bank was unfair and sold her property for half of what she owed. The truth is... There were 2 active loans and the 1st foreclosed, wiping out itself and a larger 2nd loan. What was owed was a total slightly above market value, but it was from two refinance loans where the family had taken out the money as income to spend. Once they spent the money, they now owe over $400,000.00... but the house is now worth a little less, and if they can’t borrow more money, they refuse to make payments. Nice. AND they blame the bank for their poor choices, when the bank can do nothing but react to those choices. The first of $165,000.00 foreclosed and could only ask for what was owed. The family had every chance to bring the loan current for a very small amount and stop the foreclosure. THEY CHOSE Foreclosure. If they had gathered just around $10k of the $250k they had "borrowed" on the 2nd refinance loan they could have made one payment and still own the property. The bank would see this an attempt to demonstrate good faith and perhaps do more on their end. They were not that far out of whack, so a modification could have happened. The trustee wants this to happen, as does the lender. Only the homeowner is in a position to force the auction by refusing to be reasonable. It appears that they chose not to be, and the bank was left with little option but to continue the foreclosure action. So the house was lost. It was the borrowers' choice. Not the bank. Not the bank.
19 January 2011
There were a number of excellent purchases yesterday. Here are a few examples.... 6-Plex at 14436 Emelita St. in Van Nuys.... Estimated Bid: $829,877.00 Opening Bid: $580,000.00 Sold: $580.000.01 !!!! This was not just a smart buy. This was a purchase made using our Trustee's Sale Bidding Service.,.. The buyer did not have to attend the sale, and still got the property for far less than he was willing to spend. Ask Us How!!! Other great deals from yesterday under $50,000.00 out the door......... Just look at what you can buy for $50,000.00 or less today..... 2BR/1BA Home at 9380 3rd Ave. in Hesperia.... Value: $62,000.00 Est Bid: $188,183.00 Opening Bid: $26,500.00 Sold: $26,500.01 !!! 2BR/1BA Home at 1134 N. Lugo Ave. in San Bernardino.... Value: $69,500.00 Est Bid: $107,899.00 Opening Bid: $38,400.00 Sold: $38,400.01 !!! 3BR/2BA Home at 66800 Acoma Ave. in Desert Hot Springs... Value: $96,500.00 Est Bid: $308,343.00 Opening Bid: $49,954.50 Sold: $49,954.51 !!! 2BR/1BA Home at 567 S. Santa Fe St. in Hemet.... Value: $71,000.0 Est Bid: $173,130.00 Opening Bid: $36,007.20 Sold: $36,007.21 !!!
18 January 2011
3BR/2BA Home at 539 W. Westward Ave. in Banning.... Value: $88,000.00 Est Bid: $94,962.00 Opening Bid: $47,509.20 Sold: $47,509.21 !!! 1BR/1BA CONDO at 74380 El Camino #4 in Palm Desert... Value: $88,000.00 Est Bid: $78,175.00 Opening Bid: $16,300.00 Sold: $22,700.00 !!! 1BR/1BA Home at 66154 7th St. in Desert Hot Springs.... Value: $47,000.00 Est Bid: $186,894.00 Opening Bid: $16,500.00 Sold: $20,000.00 !!!
17 January 2011
2BR/2BA CONDO at 1725 Capri Cir. in Palm Springs.... Value: $219,500.00 Est Bid: $95,294.00 Opening Bid: $97,511.99 Sold: $101,000.00 !!!! 2BR/1BA Mobile Home on the Land at 21635 Woodward St. in Perris.... Value: $66,500.00 Est Bid: $39,246.00 Opening Bid: $18,000.00 Sold: $18,000.01 !!!! 2BR/1BA Home at 1298 N. Arrowhead Ave. in San Bernardino.... Value: $91,000.00 Est Bid: $199,441.00 Opening Bid: $39,000.00 Sold: $39,000.01 !!!
12 January 2011
2BR/2BA CONDO at 2600 N. Tustin Ave. #14 in Santa Ana... Value: $280,000.00 Est Min Bid: $42,882.00 Opening Bid: $43,179.31 Sold: $53,000.00 !!! 4BR/3BA Home at 6845 Castle Peak Dr.in West Hills... Value: $690,500.00 Est Min Bid: $466,572.00 Opening Bid: $471,578.00 Sold: $476,000.00 !!! 3BR/2BA Home at 38757 Puerta in Palmdale... Value: $79,500.00 Est Min Bid: $245,534.00 Opening Bid: $49,568.40 Sold: $49,568.41 !!! 3BR/3BA Home at 45059 Collen Dr. in Lancaster... Value: $121,200.00 Est Min Bid: 284,634.00 Opening Bid: $73,400.00 Sold: $77,500.00 !!! 2BR/2BA CONDO at 1251 S. Meadow Lane in Colton... Value: $57,000.00 Est Min Bid: $123,809.00 Opening Bid: $29,000.00 Sold: $35,000.00 !!!
11 January 2011
These are examples of cash purchases at yesterday's Auctions at the County Courthouses. Duplex at 7039 Washington Ave. in Whittier.... Value: $726,500.00 Est Min Bid: $672,338.00 Sold: $400,000.00 !!! Equity Position: $326,000.00 above what was spent!!!!! (Just an example, they do not owe anything) 3BR/2BA Home at 15192 LaFayette St. in Westminster.... Value: $519,500.00 Est Min Bid: $168,533.00 Opening Bid: $183,041.20 Sold: $399,000.00 !!! Equity Position: $120,000.00 above what was spent!!!!! (Just an example, they do not owe anything) 4BR/1.7BA Home at 1116 Broadway Ave. in Barstow... Value: 142,500.00 Est Min Bid: 208,421.00 Sold: $68,476.61 !!! Equity Position: $74,024.00 above what was spent!!!! (Just an example, they do not owe anything) Duplex at 14931 Washington Dr. in Fontana... Value: $289,000.00 Est Min Bid: $327,533.00 Opening Bid: $100,899.00 Sold: $100,899.01 !!!! Equity Position: $188,100.99 above what was spent!!!! (Just an example, they do not owe anything) 3BR/2BA Home at 7716 Joshua Lane in Yucca Valley... Value: $116,500.00 Est Min Bid: $152,237.00 Opening Bid: $57,700.00 Sold: $57,700.01 !!! Equity Position: $58,799.99 above what they spent!!!! (Just an example, they do not owe anything) These are all examples of great deals in the last 24 hours where the buyer got a fantastic price because the lender was not in a position to ask for the value of the property. Please note that is one instance, the lender simply was owed less than the value of the property, so they asked for what was due. In that case, bidders expected a deal, and the property was "bid up" to the purchase price. In the other four examples, the lender was in a position to demand more at the sale than they did. In these cases, the lender applies a discount formula to arrive at a "dropped bid" price that makes the deal sweet. These "dropped bids" are what you should be looking for. Everyone knows a deal that is obvious, but those that are not obvious, or completely unexpected will be more easily picked up without a cross-bidder driving up your cost. With that in mind, we are seeing a number of excellent opportunities each day, especially now that lenders are more likely to take property to sale on the first scheduled auction date. Pick your battles and pick your price... then use our bidding service to place bids for you at the courthouse and wait for the good news!!!
7 January 2011
2BR/2BA Home at 14147 Tiara St. in Van Nuys... Value: 443,000.00 Est Bid: $259,402.00 Opening Bid: $230,650.00 Sold: $235,000.00 !!!
6 January 2011
4BR/4BA HUGE HOME on HUGE LOT at 15935 Skytop Rd in Encino.... Value: $1,115,500.00 Est Bid: $51,951.00 Sold: $76,700.00 !!! We are still reviewing this amazing purchase. It appears to be to good to be true. It appears that they bought this luxury home at 7.7 cents on the dollar. If you have any information on this property, please let us know.... Another great deal... 6BR/5BA Luxury Home 1001 S. Highland in Los Angeles... Value: $1,019,500.00 Est Bid: $1,298,760.00 Sold: $582,00.00 !!!
5 January 2011
Duplex at 497 Almond Ave. in Long Beach... Value: $425,500.00 Est Bid: $491,338.00 Opening Bid: $220,000.00 Sold: $227,000.00 !!! Triplex at 793 Raymond Ave. in Long Beach... Value: 397,000.00 Est Bid: $504,036.00 Opening Bid: $281,273.00 Sold: $281,273.01 !!! 3BR/2BA Home at 855 W. Ave. J9 in Lancaster... Value: $94,500.00 Est Bid: $196,380.00 Opening Bid: $58,650.00 Sold: $58,650.01 !!!
4 January 2011
2BR/1BA Home at 920 S. B Street in Perris... Value: $69,500.00 Est Bid: $124,947.00 Opening Bid: $31,977.00 Sold: $31,977.01 !!! 2BR/1BA Home at 38085 Rancho Los Coyotes Dr. in Indio... Value: $153,500.00 Est Bid: $206,108.00 Opening Bid: $55,342.80 Sold: $55,342.81 !!!
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