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  • March 25, 2011 at 9:11 AM #18659
    lepetitangel
    Participant

    Hi All

    Just saw a foreclosure property in the newer development community in Carmel Valley. I’ve been looking at this neighborhood for some time. The bank is listing the property for about $338/sqft…which is not super cheap.

    The community is about 3~4-years old and the inside seems to be in a good condition. The lot size is rather small for the house size.

    http://www.sdlookup.com/MLS-110017397-10712_Heather_Ridge_Dr_San_Diego_CA_92130

    For bank-owned property like this…what is the best strategy going into the bid? Should I be looking for at least 10% or 20% below the local market rate? i.e. if the market rate is $350/sqft, should I be looking to offer at $290~$330/sqft?

    I want to see if any of you real estate experts can comment on how to price your offer cleverly so that you’re not overpaying for a foreclosure property?

    Also would the foreclosure property drag down the expectations of the rest of the houses on the market in the same area?

    thanks!

    March 25, 2011 at 9:30 AM #680751
    sdrealtor
    Participant

    That property looks to be in perfect condition and the bank owned means little. There will be a line of people waiting to buy a house like that. It will sell at full retail. If you bid 10% below market you will be left far behind.

    March 25, 2011 at 9:30 AM #681910
    sdrealtor
    Participant

    That property looks to be in perfect condition and the bank owned means little. There will be a line of people waiting to buy a house like that. It will sell at full retail. If you bid 10% below market you will be left far behind.

    March 25, 2011 at 9:30 AM #681560
    sdrealtor
    Participant

    That property looks to be in perfect condition and the bank owned means little. There will be a line of people waiting to buy a house like that. It will sell at full retail. If you bid 10% below market you will be left far behind.

    March 25, 2011 at 9:30 AM #681421
    sdrealtor
    Participant

    That property looks to be in perfect condition and the bank owned means little. There will be a line of people waiting to buy a house like that. It will sell at full retail. If you bid 10% below market you will be left far behind.

    March 25, 2011 at 9:30 AM #680804
    sdrealtor
    Participant

    That property looks to be in perfect condition and the bank owned means little. There will be a line of people waiting to buy a house like that. It will sell at full retail. If you bid 10% below market you will be left far behind.

    March 25, 2011 at 9:53 AM #681436
    Coronita
    Participant

    This property will be snatched up…even at the current asking price…I think it will generate a lot of interest… I believe it will have access ot either Sage Canyon or Ocean Air..Double bonus….

    There is a comparable in the same community which is a 3/3 selling more than this….

    Lot size is more or less irrelevant, because this community most lot sizes are small, and since it’s relatively close to Sage Canyon Park….

    Wow, though…Someone in 2006 paid 1,035,225?????
    Unbelievable

    March 25, 2011 at 9:53 AM #681575
    Coronita
    Participant

    This property will be snatched up…even at the current asking price…I think it will generate a lot of interest… I believe it will have access ot either Sage Canyon or Ocean Air..Double bonus….

    There is a comparable in the same community which is a 3/3 selling more than this….

    Lot size is more or less irrelevant, because this community most lot sizes are small, and since it’s relatively close to Sage Canyon Park….

    Wow, though…Someone in 2006 paid 1,035,225?????
    Unbelievable

    March 25, 2011 at 9:53 AM #680766
    Coronita
    Participant

    This property will be snatched up…even at the current asking price…I think it will generate a lot of interest… I believe it will have access ot either Sage Canyon or Ocean Air..Double bonus….

    There is a comparable in the same community which is a 3/3 selling more than this….

    Lot size is more or less irrelevant, because this community most lot sizes are small, and since it’s relatively close to Sage Canyon Park….

    Wow, though…Someone in 2006 paid 1,035,225?????
    Unbelievable

    March 25, 2011 at 9:53 AM #681925
    Coronita
    Participant

    This property will be snatched up…even at the current asking price…I think it will generate a lot of interest… I believe it will have access ot either Sage Canyon or Ocean Air..Double bonus….

    There is a comparable in the same community which is a 3/3 selling more than this….

    Lot size is more or less irrelevant, because this community most lot sizes are small, and since it’s relatively close to Sage Canyon Park….

    Wow, though…Someone in 2006 paid 1,035,225?????
    Unbelievable

    March 25, 2011 at 9:53 AM #680819
    Coronita
    Participant

    This property will be snatched up…even at the current asking price…I think it will generate a lot of interest… I believe it will have access ot either Sage Canyon or Ocean Air..Double bonus….

    There is a comparable in the same community which is a 3/3 selling more than this….

    Lot size is more or less irrelevant, because this community most lot sizes are small, and since it’s relatively close to Sage Canyon Park….

    Wow, though…Someone in 2006 paid 1,035,225?????
    Unbelievable

    March 25, 2011 at 10:22 AM #681940
    SK in CV
    Participant

    Agree. That property is priced to sell. Full list or more.

    Never seen that crap about “first 7 days we’ll look at these offers, days 8-12 these offers….” WTF is up with that? And what is a nsp buyer?

    March 25, 2011 at 10:22 AM #680834
    SK in CV
    Participant

    Agree. That property is priced to sell. Full list or more.

    Never seen that crap about “first 7 days we’ll look at these offers, days 8-12 these offers….” WTF is up with that? And what is a nsp buyer?

    March 25, 2011 at 10:22 AM #681590
    SK in CV
    Participant

    Agree. That property is priced to sell. Full list or more.

    Never seen that crap about “first 7 days we’ll look at these offers, days 8-12 these offers….” WTF is up with that? And what is a nsp buyer?

    March 25, 2011 at 10:22 AM #680781
    SK in CV
    Participant

    Agree. That property is priced to sell. Full list or more.

    Never seen that crap about “first 7 days we’ll look at these offers, days 8-12 these offers….” WTF is up with that? And what is a nsp buyer?

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