CRR Blog

7-25-14 Sales Pending... Are You Watching These?

While there are Trustee's Sales each week day, it is important to keep things in perspective.  Every property has it's own character.  If you are buying to flip, you are looking for simple factors such as price per square foot.  When you are looking for a personal purchase then the details become much more important.  Kurt will be down in San Diego County next Friday morning for a Foreclosure Field Trip.  So we wanted to give you some examples of properties, including some going to sale in San Diego County.  Some of these look like exceptional properties for a personal purchase.  Beauty is in the eye of the beholder, so you be the judge...

4BR/2BA Home on Volclay Dr in San Diego opens at $425,132.  Est Value is $556,756

4BR/4.5BA Ranch Home on Black Canyon Rd in Ramona opens at $425,000 Est Value: $707,123

5BR/4BA Home with Pool on Hayes Ave in Murrieta opens at $103,692 Est Value; $544,281

5BR/5.5BA Estate Home on Hunt Club Dr in San Juan Capistrano opens at $976,931 Est Value: $2,200,139

3BD/3BA Newer Home on Canopy Ln in Lake Elsinore opens at $162,785 Est Value: $322,852

3BR/1BA Home on Melba Rd in Encinitas opens at $378,521 Est Value: $773,772

The more of these that you follow to the auction, the higher the odds become that you will have success....

There is no substitute for energy and persistence.

There's Gold in them thar Hills.... or is that Equity that is Glittering and Making People Wealthy???

Every Day there are Great deals at the Trustee's Sales.  I was just going over the hundreds of buys made in Southern California in the last few weeks and here is just a sampling of the Great Buys on Foreclosure properties...

4BR/2.5BA Home on Livewood Way in San Diego sold for $759,000 Est Value: $904,473

2BR/1BA Home on Redondo Ave in Long Beach sold for $350,000 Est Value: $462,401

4BR/3BA Home on Mesa Verde Dr in Yucaipa sold for $393,000 Est Value: $462,881

3BR/2BA Home on Mountain View St in Alta Dena sold for $345,000 Est Value: $459,921

3BR/1BA Home on Bella Vista Ave in Pasadena sold for $555,500 Est Value: $750,376

4BR/3BA Home on Thoroughbred St in Rancho Cucamonga sold for $527,000 Est value: $695,099

The simple fact is that you can't win an auction or close an escrow without putting in the effort and the research.  If you want to succeed you need to research properties and focus on your goal.  You need to make offers.  You need to drive to houses and look around.  You need to review the many properties in default to find the ones that meet your needs.  It is a commonly held axiom that when it comes to Real Estate it is all about location.  This still holds true, but with foreclosures it is also about "Circumstance".  What do I mean?  Simple.  The circumstance as defined by the loans owed, their positions, and the value of the property versus the amounts owed partially defines your options.  Who is in the property?  What is their mindset? Is it empty? What is the current condition of the home? If you ask Kurt, he will tell you without hesitation that most people do not buy these homes at the auction.  Most people make offers like they would on any other house.  They use conventional methods and only go the unconventional route if the path to closing an escrow is blocked.  We are seeing that the rise in valuation over the last few years has created a perfect storm of Equity for the investor.  But  for the financially stranded borrower, the lack of income growth mixed with the growth of indebtedness is an absolute debacle.  It is only a matter of time and they must sell or lose to the auction.  So get out there and work this market.  If you are in a position to buy, you are the exception to the rule.  The more doors you knock on, the sooner you will be switching out a set of locks and slapping on a fresh coat of paint.  So get crackin' and land yourself a deal.  If you are not sure what to do next, check our Calendar of Upcoming Seminars for Kurt's next presentation.  He will help you get your plan together so you can start prospecting and bring home the Gold!

Happy 4th of July!!!

Celebrate your Independence!  This is Your Day!  The thing that makes everything worthwhile is our ability to think and express ourselves Freely.  We have the Freedom to go after Real Estate (Private Property).  We have the Freedom to accumulate wealth by our own Legal Methods and become Financially Independent. 

This is the Gift Our Forefathers left to us. It is our duty to exercise and protect this Gift.  Remember this.  They fought the Revolution to protect the rights that God gave us... from those who would wrongly say that other things are more important.  Liberty is not everything.  It is the Only thing.

Fireworks are just a bonus.

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