Buying Bank Owned Homes

Can You Really Buy San Mateo Foreclosures for Less than $20,000?

By Raymond Stoklosa · September 24th, 2009

I just heard a radio commercial touting how you can buy thousands of beautiful 4 bedroom, 2 bath homes for $20,000 and $199 per month. WOW! What a deal! Where can you find these bargains? NOT in San Mateo County…that’s for sure. Of course, the company sponsoring the commercial can send you all the information [...]

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How’s the San Mateo Foreclosure and Short Sale Market?

By Raymond Stoklosa · September 21st, 2009

The headlines shout “Foreclosures Mount”, while the talking heads proclaim “Falling Home Prices and Rising Inventories.” Well, in the words of College Football’s GameDay host Lee Corso, “not so fast, my friend.” What About the San Mateo County Real Estate Market? Certainly, in some parts of the United States foreclosures are at all time highs [...]

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What to Expect When Buying Bank Owned Homes – Including the Bank’s Addendum

By Raymond Stoklosa · September 15th, 2009

Buying a bank owned home in San Mateo County is among the best ways to purchase a home at a value price. The purchase process is much more orderly and much less emotional than a conventional consumer sale. The bank is going to evaluate your offer strictly on the net sales price and the likelihood [...]

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Can You Steal a Bank Owned Home?

By Rebecca Williamson · August 17th, 2009

Many times San Mateo buyers, especially San Mateo first time home buyers, come in with the idea that they can get a great deal by underbidding REOs (bank owned homes). Unfortunately, it’s not so simple. REO properties actually sell on average for a higher percentage of their original list price than traditional properties do. (Traditional [...]

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True or False: Banks Don’t Have to Provide Disclosures

By Raymond Stoklosa · June 22nd, 2009

False! We are about two years into the housing market correction, and we still hear REO Listing Agents tell us that banks and their asset managers do not have to provide disclosures. They say the bank is exempt because they acquired the property through foreclosure. What is the Only Disclosure Banks Do Not Have to [...]

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