montereycountyforeclosures.com » eb

How to buy

eb — Wed, 08 Sep 2010 02:33:17 +0000

Have you thought about buyin a bank foreclosure home? Watch this video and find out what to watch for, how to do it.

Foreclosure Videos

Mid Year Foreclosure Report

eb — Wed, 08 Sep 2010 02:30:07 +0000

2010 Mid Year Foreclosure Report – Watch this video and see what to expect.

Video – Foreclosure Report

eb — Wed, 08 Sep 2010 02:15:01 +0000

What’s going on with foreclosures this year? Watch this video interview with Realty trac for additional information.

More Monterey Peninsula Foreclosures

eb — Sat, 21 Aug 2010 00:16:50 +0000

Is now a good time to buy? Rates are great and the inventory is plentiful. Buying a foreclosure can be a challenge at times – but well worth the effort. Most banks want to sell properties they own – “AS IS”. You still need to get reports – so you know what you are getting. In most cases a buyer will need to pay for the termite/structural pest control report as well as a home inspection. I tell my clients to be prepared to spend money to get the property tented after close of escrow and also to expect some repairs.

Not all bank owned (REO) homes are in bad shape. Some may have been updated and be ready for a buyer to move in. But more often the house may need condsiderable updating and work. The Monterey area is a great place to live – and bank owned homes can be good investment.

Bank Foreclosure – Open House

eb — Wed, 07 Oct 2009 04:45:29 +0000

Open House at: 10 Calera Canyon Rd., Salinas – Highway 68 area-.
Saturday & Sunday Oct. 10th & 11th 12 to 3 pm
Call for info or directions : Eileen Begley (831) 277-9939
Two great houses on 5 acres – mostly useable land. Main home is 4 bedroom, 3 bath, triple car garage. Spacious, sunny livingroom with cathedral ceilings. Dining room, breakfast room. Home needs some TLC. Second home is 2 bedroom, 1.5 baths, bright and sunny, garage, decks.

$866,250. Great value!

Good Time to Buy Foreclosures?

eb — Tue, 15 Sep 2009 23:36:17 +0000

Is it a good time to buy foreclosures? Well that depends. First not many people stand on the courthouse steps and bid on a home that is being foreclosed on by the bank. Most people wait until the home goes back to the bank and is an “REO” . What’s an REO? Well it just means it is owned by the bank.

Many of the best deals are bank owned properties. But if it’s under $400,000 and on the Monterey Peninsula then be prepared for a bidding war. Most properties in this price range receive multiple offers. The bank will weigh how much they buyer offers and how much cash they have to put down on the property. Most buyers obtain loans from other lenders rather than the bank that owns the property.

Real Estate is not a “liquid investement”. It is not easy to sell and cash out if you suddenly need money for expenses. In the current market don’t over extend yourself. But there are some great buys out there – but it’s best to be in the position where you won’t need to sell for at least three and preferably 5 yrs.

Two New REO Homes, Marina, CA – Open House 7/11

eb — Fri, 10 Jul 2009 00:39:55 +0000

Marina Foreclosure Property

Stop by and see me – Saturday, July 11 from 12 to 3 pm at 3149 Marina Dr., in Marina. Two brand new homes are available at $549,000 each. Both are 4 bed., 3 bath within walking distance to shopping, restaurants and only a mile from the beach! Both have two master suites. Stop by and see these two quality homes as well as find out about other Bank Foreclosure properties in the area!

Monterey Foreclosures – Update

eb — Sun, 31 May 2009 18:47:00 +0000

As we get into summer the REO market in both Seaside and Marina has tightened up. Seaside has 107 listings and 70 of those are in escrow which is 65% of the properties are pending. It is a similar situation in Marina with a total of 60 listings of which 38 or 63% are pending.

It is not really a buyers market in the affordable range of under $400,000. Multiple offers on houses are common. The houses that require the least amount of work often sell for higher than the list price.
May 31, 2009

Foreclosure – Monterey, Pacific Grove & Del Rey Oaks

eb — Wed, 04 Mar 2009 20:52:20 +0000

Foreclosure – Monterey

Not all the foreclosure properties are in Seaside. You can find a foreclosure home in Monterey, Pacific Grove and Del Rey Oaks as well as the rest of the Peninsula. As of early March there are 10 foreclosure homes in these three towns. Prices range from $355,900 up to $1,199,000l. The size of the bank owned home (REO) is from 624 sq. ft. all the way up to 2727 sq. ft.

If you are interested in these or any other foreclosure homes in Monterey and the rest of the peninsula – be sure and give me a call – Eileen Begley (831) 277-9939

Get Pre-Approved for your Loan!

eb — Wed, 04 Feb 2009 16:30:08 +0000

1.What is your first step when looking to buy a bank owned (REO) property? Get pre-approved for your loan. Getting pre-qualified is not enough. Getting pre- approved means you have submitted all required documents for your loan. Your bank statements, tax return or w-2 forms and so on.

You can’t even bid or make an offer on an REO if you don’t have your pre-approval letter.
2. Second Step – find a GOOD agent who will work hard for you. If you don’t have a good agent, then I will be glad to work work with you.

3. Get educated! Watch videos, read articles explore this site and come back later as more info will be added. Your agent should give you comparable sales on a property you want to make an offer on.

4. Go to open houses and see what’s out there. Watch this site for a list of my open houses.

Buying a Bank Foreclosure property can be tough. They may be multiple bids on some properties. Banks may price them low to cause a bidding war. So be prepared – you have to fight for the best values.