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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!

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