CRR Blog

Are You Ready for The Summer Foreclosure Season?

Don't be left behind this Summer.  The foreclosures are coming in steady.  There have been a lot of delays, as the overall effect of legislation, litigation and other factors created more ways for borrowers to seek relief. But that does not correct the underlying cause of default.  These properties will turn over. 

We are seeing defaults on recent loans, on homes that had not gotten a notice before, and on properties with considerable equity.  Of course, there are also many ongoing foreclosures.  The postponements and cancellations are pauses in an extended process.  They can also provide excellent buying opportunities in a variety of ways other than the auction.

Kurt has a number of upcoming events this year to let you know his methods for acquiring properties. 

Go back to our Home Page and check out our calendar of upcoming seminars. 

Click the ICON on the left, below Kurt's photo to see where he will be.

More Examples of what a Good Bid can do.....

In the last few days investors have been getting some excellent buys at the Trustee's Sales.  Here are just a few examples.

3BR/2BA Home on Twin Oaks Valley Rd in San Marcos sold for $334,100.00 Est Value: $430,251.00

4BR/3BA Home in High Ridge Dr. in Beaumont sold for $244,000.00 Est Value: $350,181.00

3BR/1BA Home on Fairway Ave in La Crescenta sold for $466,000.00 Est Value: $541,707.00

3BR/1BA Home on Delford Ave in Carson sold for $285,000.00 Est Value: $353,948.00

3BR/2BA on Hiawatha St in Granada Hills sold for $326,250.00 Est Value: $420,217.00

4BR/2.5BA Home on Park Lane in Santa Ana sold for $515,200.00 Est Value: $657,704.00

Foreclosures aren't just for Investors... Anymore!

A client of ours wanted to but a home in a certain area for his family.  We coached him through the process and he set up a monthly account and a FREE Bidding Service Account.  He shopped properties and began placing bids.  We gave him words of encouragement, but we also told him bluntly that if you are being picky, it is just like buying a house the regular way... it takes time.  But we also told him he stood to save tens of thousands of dollars on his purchase price.  He was hundreds of miles away most of the time, placing bids at a distance based on a steady formula for success.  He set up a number of bids and we watched properties get postponed and cancelled. We told him that success is achieved by being steadfast and persistent.  Weeks went by, and eventually more than a month.  But he kept at it. 

A couple days ago his willingness to persevere finally prevailed.  He bought a home valued between $740,000.00 and $799,000.00.  He paid over $100,000 below the comps.  Depending on which value you go by, he saved anywhere from $120,000.00 to $185,000.00 by paying cash and using our bidding service. 

Most of our clients are not looking for a personal purchase.  Most simply are looking to pay below market and make some cash on the back-end by selling at a profit.  Seeing someone get a nice home for themselves is a whole other level of reward for us as a service provider.  We are gratified that we did a good thing not just for an individual, but for a family.

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