Foreclosures on Trulia - Fact or Fiction
There are some deals to be found on Trulia that are too good to be true. Perhaps so good that they don't exist.
In truth, Trulia posts foreclosures from RealyTrac - which bills itself as having "the largest database of foreclosures, auction and bank-owned homes for investors & home buyers . . ." Subscriptions are available for $49.95/month.
I find trouble in the way Trulia posts the information that it pulls from RealtyTrac. Here is a screen shot for the search term "Winnetka foreclosures" that came up in Trulia:
Most people who do online searches in Winnetka know that the average home sells for around $1 million. Currently, the least expensive house for sale in Winnetka is on for $549,000. So how can a home on tony Sheridan Road be offered for $395,000?
Now, if you hover your mouse near the price, an orange button will come up that says "More Details." Clicking on that takes you to the RealtyTrac sight where it prominently states:
Aha! That amount is simply and possibly the loan amount (although even that sounds suspiciously low for a house in Winnetka.) It is certainly not the sale price!
If you are searching for a house foreclosure in Winnetka and the North Shore, please understand that this information is confusing and misleading. There are a few foreclosures available for upper end homes, but not anywhere near the prices shown on the site. Call me for accurate and up-to-date information on local foreclosures and short sales.
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