I recently wrote about pre-foreclosures - distressed properties for which the owner has been notified by their lender that they are late on their mortgage payments. Although these properties are not always listed for sale, it's possible to initiate a sale and potentially help the current owner out of a tight spot. Many owners won't list their property for sale because they don't want the embarrassment of a For Sale sign in their yard or they don't think they can get the price they want. Some see foreclosure as unavoidable and a short sale as a long, painful and fruitless process. As buyers looking for a fair deal, perhaps we can help.
I searched for current pre-foreclosures in Palo Alto and found 28 properties listed. Here are examples of properties that have gone into pre-foreclosure:
• Single family home: estimated value $4,732,196; 8 bed/8 bath; 7,456 square feet
• Single family home: estimated value $646,729; 2 bed/1 bath; 1,103 square feet
• Single family home: estimated value $1,032,698; 3 bed/2 bath; 1,646 square feet
• Single family home: estimated value $838,823; 3 bed/2 bath; 1,257 square feet
• Condo: estimated value $655,392; 2 bed/2 bath; 1,200 square feet
• Condo: estimated value $536,590; 2 bed/2 bath; 1,224square feet
If you are interested in learning more about these homes, or other pre-foreclosure or standard sales in Palo Alto or elsewhere in the Bay Area, call or shoot me an email.
New properties come on the market every day. Properties shown above are pre-foreclosures as of December 29, 2010.
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