Chico CA Foreclosure Listings
Search here! Chico CA Foreclosures Listings for Sale
March 18th, 2008 categories: Chico CA Foreclosure Listings, Chico CA Real Estate News
Chico CA Foreclosures Listings!
Welcome to the most comprehensive, up-to-date list of Chico CA foreclosure properties available for sale on the MLS.
Interested in buying a Chico foreclosure?
Please be forewarned that purchasing a foreclosure or short sale property is quite a bit different than purchasing an average real estate listing.
Everything from the marketing, negotiating, forms, disclosures, and escrow process varies significantly from what most buyers and real estate agents are accustomed to. It is imperative that you, as a buyer, are represented by a foreclosure specialist who understands the complexities of the transaction so that you are adequately protected! Look for a Chico real estate professional that regularly lists and sells foreclosure properties.
Updated: 03/18/2008
Chico (and surrounding areas) Foreclosure Properties Coming Soon!
Want the inside scoop on foreclosure properties not yet listed? The following are scheduled for marketing within the next 30 days:
852 Lindo Lane, Chico
475 Sacramento, Hamilton City
254 E 15th Street, Chico
2136 Rosedale, Oroville
762 1st Avenue, Chico
269 W Rio Bonito, Biggs SFD $138,000 3 bed, 1.5 bath, 1222 sqft, built 1970
CHICO FORECLOSURES
1412 N CHERRY STREET Condos $114,900 (Pending)
2200 NOTRE DAME BLVD Condos $119,900 2 bed 1 bath, 864 sqft, built 1981
1186 E 1ST AVENUE Condos $135,700 (Pending)
2159 SHOSHONEE AVE SFD $174,500 3 bed 2 bath, 1336 sqft, built 1988
1527 B Street, Chico SFD $179,900 3 bed 2 bath, 1108 sqft, built 1989
2759 CERES AVE SFD $184,900 3 bed 2 bath, 1039 sqft, built 1980 (Pending)
569 WHITE AVE SFD $194,000 3 bed 1 bath, 989 sqft, built 1959
946 EATON RD SFD $194,900 3 bed 2 bath, 1167 sqft, built 1973 (Pending)
2099 HARTFORD DR SFD $199,900 3 bed 2 bath, 1382 sqft, built 2005
87 KEY WEST LOOP SFD $219,000 3 bed 2 bath, 1126 sqft, built 2006 (Pending)
709 POMONA AVE Duplex ($219,900) built 1948, 1436 sqft
8 SUN CIRCLE CT SFD $219,900 3 bed 2 bath, 1160 sqft, built 1986
1276 CALLA LN SFD $227,424 4 bed 1.5 bath, 1746 sqft, built 1963 (Pending)
1081 REY CIR SFD $232,900 4 bed 1.75 bath, 1414 sqft, built 1972 (Pending)
15 GLENSHIRE LN SFD $235,900 4 bed, 1.5 bath, 1305 sqft, built in 1987
747 WATERFORD DR SFD $237,450 3 bed 2 bath, 1374 sqft, built 1980 (Pending)
23 GLENSHIRE LN SFD $239,000 4bed 1.5 bath, 1305 sqft, built 1987 (Pending)
1482 DAYTON RD SFD $249,500
2 MARYDITH LN SFD $254,500 3 bed 2 bath, 1720 sqft, built 1969 (contingent)
2788 CEANOTHUS AVE SFD $259,900 (Pending)
713 WAYNE LN SFD $265,500 4 bed 2 bath, 1525 sqft, built 1956
4330 KEITH LN SFD $269,000 3 bed 1.5 bath, 1392 sqft, built 1976
4135 KEEFER RD SFD $279,900
1260 RAVENSHOE WAY SFD $287,000
2 WINDMILL CT SFD $289,000 3 bed 2 bath, 1573 sqft, built 1980 (Pending)
25 BUNKER CT SFD $299,900 3 bed 2 bath, 1801 sqft, built 2003 (Pending)
100 BENSON TERR SFD $299,900 3 be, 2 1/2 bath, 1967 sqft, built 2004
13200 HAMILTON NORD SFD $325,000 3 bed 2 bath, 1888 sqft, built 1976
1134 11TH AVENUE SFD $335,300 3 bed 2 bath, 1853 sqft, built in 2004
305 MESA VERDE COURT SFD $347,624 4 bed 3 bath, 2325 sqft, built 2005 (Pending)
832 JACOBS CT SFD $359,900 3 bed 2 bath, 1760 sqft, built 1999
3006 TOP HAND CT SFD $379,900 3 bed 2.5 bath, 2336 sqft, built 1980
2721 ESCALLONIA WY SFD $439,000 4 bed 3 bath, 2435 sqft, built 2001
454 BROOKSIDE DRIVE SFD $498,000
10696 PLAYER LN SFD $649,900 3 bed 3 bath, 3342 sqft, built 2005 (Pending)
3217 SHALLOW SPRINGS SFD $894,900 4/4, 4361 sqft, built 2005 (Pending)
LOS MOLINOS FORECLOSURES
24890 KELLIE WAY SFD $199,900 3 bed 2 bath, 1252 sqft, built 1968
MAGALIA FORECLOSURES
13996 JARVIS CIR MFD $89,000 3 bed 2 bath, 1536 sqft, built 1976
13721 ENDICOT CIR MFD $129,500 2 beds 2 baths, 1616 sqft, built 1979
14569 ASHEVILLE DR SFD $169,900 2 bed 2.25 bath, 1738 sqft, built 1981 (Pending)
13980 CASCADE DR SFD $172,500 3 bed 1.75 bath, 1080 sqft, built 1980
13695 ANDOVER DR SFD $178,900 3 bed 1 bath, 1564 sqft, built 1982
14549 CARNEGIE RD SFD $189,900 3 beds 2 baths, 1486 sqft, built 1992
6560 HURON CT SFD $209,900 2 bed 2 bath, 1260 sqft, built 1980
14560 CARNEGIE RD SFD $212,900 2 bed 2 bath, 1751 sqft, built 1979
14569 ASHEVILLE DR SFD $219,900 2 bed 2.25 bath, 1738 sqft, built 1981
15220 SKYWAY SFD $225,000 3 bed 2 bath, 1696 sqft, built 1979
14658 BRIDGEPORT CIR SFD $261,250 3 bed 2 bath, 1903 sqft, built 2005
ORLAND FORECLOSURES
801 PECAN ST SFD $145,000, 3 bed 1.5 bath, 1080 sqft, built 1986
1311 FAIRVIEW ST SFD $145,500 3 bed 1 bath, 1000 sqft, built 1993
803 PECAN CIR SFD $152,900 3 bed 2 bath, 1080 sqft, built 1986
802 DATE ST SFD $154,900 3 bed 2 bath, 1080 sqft, 1988
1309 FAIRVIEW ST SFD $169,000 3 bed 1.5 bath, 1080 sqft, built 1993
802 DATE ST SFD $169,900 3 bed 2 bath, 1080 sqft, built 1988
611 WOODWARD AVE SFD $190,000 (Pending)
778 JACQUELYN DRIVE SFD $249,900 3 bed 2.5 bath, 1773 sqft, built 2006
6202 CO RD 15 SFD $299,900 3 bed 2.5 bath, 2300 sqft, built 1977
OROVILLE FORECLOSURES
2364 A STREET SFD $69,900 2 bed 1 bath, 864 sqft, built 1935 (Pending)
881 POMONA Ave SFD $78,900 2 bed 1 bath, 988 sqft, built 1921
2765 ORO BANGOR HWY SFD $84,900 3bed, 1bath, 1008 sqft, built in 1987
292 APACHE CIR SFD $91,080 2 bed 2 bath, 1440 sqft, built 1976
2151 OROVILLE BANGOR Duplex! $99,900 built 1954
1080 TEHAMA AVE SFD $104,900 1 bed 1 bath, 912 sqft, built 1949
118 NELSON AVE SFD $109,990 3 bed 2 bath, 1552 sqft, built1965
4771 V E AVE SFD $129,900 3 bed 1 bath, 1014 sqft, built 1964 (Pending)
3451 ORO BANGOR HWY SFD $134,900 3 bed 1 bath, 1266 sqft, built 1950
2126 GRAY ST SFD $137,900 3 bed 2 bath, 1080 sqft, built 1992
1020 BUTTE AVE SFD $139,900 2 bed 1 bath, 1030 sqft, built 1959
1604 SWEEM ST SFD $149,000 4 bed 2 bath, 1597 sqft, built 1960
1687 LETA LN SFD $152,600 2 bed 2 bath, 1038 sqft, built 1978
220 CANYON DR SFD $149,900 4 bed 2 bath, 1894 sqft, built 1954
2675 ORO AVE $155,000 2 bed 1 bath, 1082 sqft, built 1949
853 HARLAN AVE SFD $159,900 3 bed 1 bath, 1088 sqft, built 1951
3081 ORANGE AVE SFD $161,000 3 bed 2 bath, 1443 sqft, built in 1954
1445 7TH AVENUE SFD $173,000 2 bed 1 bath, 1228 sqft, built 1925
11 GLEN CIR SFD $178,900 3 bed 2 bath, 1936 sqft, built 1963
18 WESTWOOD WAY SFD $179,900 3 bed 2 bath, 1152 Sqft, built 1979
37 SELF LN SFD $184,000 2 bed 1 bath, 1240 sqft, built 1982 (Pending)
21 LA CRESENTA DR $189,900 3 bed 2 bath, 1338 sqft, built 1951
3131 TRES VIAS RD $199,900 3 bed 2 bath, 1787 sqft, built 1968
105 ANTLER DRIVE $221,900 4 bed 2 bath, 1687 sqft, built 2005 (Pending)
17 LA FORET DR SFD $259,900 3bed 3 bath, 2344 sqft, built 1983
3615 HILDALE AVE SFD $277,200 3 bed 2 bath, 1778 sqft, built 1961
2680 HWY 70 SFD $339,900 2 bed 2 bath, 1836 sqft, built 1981
PARADISE FORECLOSURES
1835 DRENDEL CIR SFD $114,900 4 bed 1 bath (Pending)
6338 DIAMOND AVE SFD $129,900 2 bed 1 bath, 1147 sqft, built 1949 (Pending)
1537 SYLVAN WAY SFD $130,000 2 bed 1 bath, 1056 sqft, built 1954
5371 SAWMILL RD SFD $139,000 2bed 1 bath, 1014 sqft, built 1950 (Pending)
5757 HOLLY LN SFD $139,900 1bed 1 bath + den, 1080 sqft, built 1948
6340 TABERNACLE LN SFD $139,900 2 bed 2 bath, 1058 sqft, built 1949 (Pending)
5571 KEITH LN SFD $144,900 2 bed 1 bath, 904 sqft, built 1940
6399 LUCKY JOHN RD SFD $144,900 2 bed 1 bath, 1065 sqft, built 1948 (Pending)
463 VALLEY VIEW DR SFD $138,000 2 bed 2 bath, 1020 sqft, built 1947
1115 NUNNELEY SFD $150,900 3 bed 2 bath
1462 ELLIOTT RD SFD $158,900 2 bed 1 bath, 1064 sqft, built 1954 (Pending)
1481 MAGGIES LN SFD $159,900 2 bed 1.5 bath, 996 sqft, built 1980
6893 LUNAR LN SFD $169,900 2 bed 1.5 bath, 988 sqft, built 1970
6104 OLIVER RD SFD $169,900 2 bed 1 bath, 1054 sqft, built 1950 (Pending)
1363 PEARSON RD SFD $177,900 3 bed 1 bath, 1056 sqft, built 1988 (Pending)
5575 SIERRA PARK DR SFD $190,000 3 bed 2 bath, 1420 sqft, built 1948
5811 PERRY MASON LN SFD $195,000 2 bed 1.5 bath, 1799 sqft, built 1956
490 WILLS LN SFD $199,900 3 bed 2 bath, 1505 sqft, built 1976 (Pending)
5892 COPELAND RD SFD $225,000 3bed 2 bath, 1715 sqft, built 1966
1658 JARAMILLO SFD $239,000 2 bed 2 bath, 1530 sqft, built 2006
1635 ALEXIS LN SFD $262,000 6bed 3 bath, 2977 sqft, built 1981
6479 GREGORY LN SFD $269,900 4 bed 2 bath, 2088 sqft, built 1985 (Pending)
6165 SAWMILL RD SFD $269,900 4 bed 2 1/2 bath, 1936 sqft, built 1979
1246 ELLIOTT RD SFD $345,000 4 bed 3 bath, 2236 sqft, built 1960
3366 HAMLIN CANYON CT SFD $ 384,900 4 bed 3 bath, 2548 sqft built 1992
3591 SUNVIEW RD SFD $389,900 3 bed 2.5 bath, 2107 sqft, built 2002
WILLOWS FORECLOSURES
319 N SHASTA STREET SFD $85,000 2 bed 1 bath, 703 sqft, built 1950 (Pending)
651 GLENNWOOD LN SFD $125,000 3 bed 2 bath, 1354 sqft, built 1979 (Pending)
430 W ASH ST SFD $145,000 3 bed 1 bath, 1535 sqft, built 1910
833 W SYCAMORE ST SFD $149,500 3 bed 1 bath, 1100 sqft, built 1915
695 E WOOD ST SFD $145,000 3 bed 2 bath, 1200 sqft, built 1940 (Pending)
1271 E 9TH STREET SFD $168,500 2 bed 1 bath, 1296 sqft, built in 1943
612 GLENNWOOD LN SFD $174,900 3 bed 2 bath, 1100 sqft, built 1972
SOLD
16 DELAWARE DR SFD $255,900 3 bed 2 bath, 1550 sqft, built 1991 (SOLD)
800 BUSCHMANN RD SFD $649,900 (SOLD)
975 LUPIN AVE SFD $289,000 (SOLD)
32 EL CERRITO DR SFD $230,000 (SOLD)
7 DONNA ST SFD $242,000 3 bed 2 bath, 1646 sqft, built 2005 (SOLD)
835 BLACK WALNUT WAY SFD $239,900 (SOLD)
2630 CEANOTHUS AVE SFD $264,900 (SOLD)
395 E 8TH STREET SFD $100,000 (SOLD)
2752 Rafael St SFD $205,000 (SOLD)
2733 CEANOTHUS AVE SFD $215,000 (SOLD)
6479 GREGORY LN SFD $269,900 (SOLD)
Have questions? Need more info on any of these properties? Call me: 530-864-5407
Information listed for each property is derived from sources deemed accurate but we do not guarantee the accuracy of such information.
Foreclosures: What you should know BEFORE you make an offer, Part 1
Foreclosures: What you should know BEFORE you make an offer, Part 2
Coming soon! What you should know BEFORE you make an offer, Part 3.
| Discussion: Comments Off on Search here! Chico CA Foreclosures Listings for Sale
Don’t lose your Chico Home to Foreclosure
December 21st, 2007 categories: Chico CA Foreclosure Listings, Chico CA Real Estate News
by guest writer, Mike Wiegert- broker, Chico Homes Real Estate
If you are worried about keeping up with your Chico CA house payments or you've received a letter from your mortgage lender, take a moment to read this article.
The problem won't go away by itself!
1. Don't ignore your lender. They want to help you and will discuss the problems you are having. They have options to help you through these financially hard times. They can offer great advice to prevent you from getting into foreclosure. "I didn't get the mail" or "I didn't read it" are not valid excuses in foreclosure court. Disregarded mail usually turns into notices of legal actions.
2. Read your mortgage documents. Remember all those papers you signed when you bought your house? Dig them out of whatever hole you put them in and read them. You need to understand what your rights are and the procedures your bank will take to protect their interest in your property. Research other valuable information about foreclosures besides the information offered to you by your lender. An excellent source? Try: www.fha.gov/foreclosure/index.cfm.
3. Get some credit counseling. The U.S. Department of Housing and Urban
Development (HUD) offers free or very low cost housing counseling and information. A HUD counselors will outline options for you, help you organize your finances and even assist you in negotiating with your lender.
For more information call (800)569-4287.
4. Watch out for foreclosure prevention companies and foreclosure recovery scams. Although there many legitimate companies that will offer to assist you for a fee ranging anywhere from two to three months mortgage payments, most of their information and assistance is available to you through HUD as mentioned above. Don't waste your money at this critical time. NEVER sign your home over to an individual or company that claims it will act on your behalf. As always, enlist the help of an attorney or trusted real estate professional before signing any document conveying the title to your home.
Lastly, if you can't continue to make your payments consistently, contact a local real estate professional to help determine the actual market value of your property in todays market. Engage the services of a competent and trusted Realtor. Don't allow yourself to be lured into a listing agreement by an exuberant agent or broker claiming he can get you much more than the others simply because of his extraordinary talents. Ask the agent to provide you a detailed Competitive Market Analysis showing actual, recently sold properties in your neighborhood with similar features and in like condition to your home. The California Department of Real Estate not only allows agents and Brokers to negotiate their commission, but encourages it. Share your extenuating circumstances with your agent. Trusted friends and relatives can be a good source of recommending a Realtor that served them well.
Subscribe to: Chico CA Real Estate Blog and MLS Listings Search!
Looking to buy or sell Chico CA Real Estate? Need a Top Producing Chico CA Realtor? Call Sandi Bauman 530-864-5407 or email [email protected]. Specializing in REO, residential, relocation, investment & ag property.
| Discussion: 6 Comments »
Avoid Mortgage Fraud in Chico CA
December 20th, 2007 categories: Chico CA Foreclosure Listings, Chico CA Real Estate News
Are you facing foreclosure on your Chico Home?
If you have fallen behind on your mortgage payments, you need to be acutely aware of the “foreclosure rescue schemes” being played out all over the United States. As a Chico homeowner in distress, you are more likely to be more vulnerable to mortgage fraud.
[youtube]http://www.youtube.com/watch?v=cS2HsaBA5No[/youtube]
Freddie Mac is working hard to get the word out on mortgage fraud. You can read their recent article in full here “Avoiding Mortgage Fraud.”
Stay informed, and avoid signing any documents without first consulting your lender.
After all, the last thing the bank wants to do right now is foreclose on your property! They will most likely counsel you thoroughly on your legal options, and work with you to find a solution. Please protect yourself, and guard against talking with strangers or anyone who can’t clearly identify himself as your actual lender.
Subscribe to: Chico CA Real Estate Blog and MLS Listings Search!
Looking to buy or sell Chico CA Real Estate? Need a Top Producing Chico CA Realtor? Call Sandi Bauman 530-864-5407 or email [email protected]. Specializing in REO, residential, relocation, investment & ag property.
| Discussion: 5 Comments »
Foreclosures: What you should know BEFORE you make an offer, Part 3
November 18th, 2007 categories: Anatomy of a Chico CA Real Estate Transaction, Chico Buyers, Chico CA Foreclosure Listings
This is part 3 in a series of helpful hints to purchasing foreclosures in Chico, CA.
Did you miss parts 1 and 2? Read here!
Foreclosures: What you should know BEFORE you make an offer, Part 1
Foreclosures: What you should know BEFORE you make an offer, Part 2
Chico CA real estate buyers and investors LOVE foreclosures.
The problem is, there aren’t that many to go around! Many areas of California have experienced a high influx of foreclosures thanks to the recent mortgage meltdown. Chico, CA however has fared a little better in terms of relative numbers of repossessions.
Chico CA buyers are competing to snatch up the bank-owned (REO) property when it DOES come along. It’s important to remember, however, that purchasing an REO property can be quite a bit different than a traditional Chico CA real estate purchase.
Before offering on a Chico, CA REO property, you should know:
1. It’s important to have a preapproval letter from your lender. Most of the banks I’ve dealt with require that the preapproval be submitted with your initial purchase offer. Without it, they won’t waste their time reviewing your paperwork. While this makes good sense anytime you are offering on a property, it’s critical for an REO listing.
2. The bank also wants to prequalify you themselves.
They want to see the letter from your preferred lender, but they won’t necessarily trust it! Oftentimes, you will be required to fill out their credit application just so they can verify that you do indeed qualify for the loan amount, or are otherwise financially stable. Although they would be happy to process your loan, you are still pursue a loan through the lender of your choice.
3. The bank is picky when it comes to title companies.
Typically, a buyer has some say about which title company they prefer, and even which officer they would like to work with. The bank really doesn’t care if your friend Sue is the best title officer in the county and her office is only 2 blocks from your new house. Most of the time, they already have a title company and officer designated, and the point is non-negotiable. The best part? The title company is usually out of the area, and unfamiliar with local practices.
Like what you’re reading?
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Still want to be part of the foreclosure frenzy taking place in Chico CA real estate? Contact me, and I will work to find you the perfect Chico REO property for your needs.
Sandi Bauman, Chico CA Realtor: 530-864-5407.
Related reads:
Short escrow? Get your ducks in a row BEFORE you make an offer.
What is the Difference between Prequalification and Preapproval?
Why Should I Get Preapproved for a Chico, CA Home?
Looking to buy or sell Chico CA Real Estate? Need a Top Producing Chico CA Realtor? Call Sandi Bauman 530-864-5407 or email [email protected]. Specializing in REO, residential, relocation, investment & ag property.
| Discussion: 4 Comments »
Foreclosures: What you should know BEFORE you make an offer, Part 2
November 16th, 2007 categories: Anatomy of a Chico CA Real Estate Transaction, Chico Buyers, Chico CA Foreclosure Listings
This is part 2 in a series of helpful hints to purchasing foreclosures in Chico, CA.
Did you miss part 1? Read here.
Bank-owned property (REO) is some of the most sought-after Chico CA real estate of all time. In a market where many buyers are sitting on the fence waiting for the bottom to fall out, savvy investors are picking up REO‘s as fast as Chico Realtors can churn them out!
It is important, should you be considering purchasing a bank-owned (REO) listing, that you understand up front what exactly you’re getting yourself into. For the uninitiated, a look into the world of REO can be quite surprising. (In case you’re wondering, I don’t necessarily mean that in a good way.)
Before offering on a Chico, CA REO property, you should know:
1. Most REO property won’t leave you feeling all warm and fuzzy.
First time home-buyers are often gleeful when they get their first look at the home they will eventually buy. “It’s just so CUTE!” they declare. They oooh and aaah over the carefully groomed, staged and scented home visualizing Thanksgiving Dinners and Christmas trees.
REO property often takes a little more imagination. You have to try to pretend that the yard is not dead, the house isn’t lime green, the walls don’t have holes in them, the kitchen appliances and fixtures are actually there, and the flooring isn’t all torn up. That is, if you can get past the unbelievable stench and filth of lives gone horribly wrong.
To be fair, there are nice, clean Chico REO properties to be had- there are. But oftentimes, an REO house is one that shows evidence of severe neglect and outright abuse on the part of an angry or desperate previous owner.
2. Don’t expect the bank to pretty it all up for you!
The banks usually prefer to sell “as is.” Minimally, they will do an initial “trash out” to remove the belongings left in or on the property. In addition, they will re-key, board up windows, and winterize. It is unlikely that measures will be taken to add appeal- if the sinks, lights, appliances and windows are missing, they are likely to stay that way. Exception: if the buyer’s lender requires a repair (or 10) to fund the loan, the bank may negotiate the cost of the repairs. In a competitive REO market, however, they won’t need to do any repairs- a cash buyer will snatch it right up in it’s current condition.
3. The bank won’t tell you what’s wrong with the house, because they don’t know.
A traditional seller is required to provide you with a laundry list of everything they know to be wrong with the property. In the case of an REO property, the seller has never even seen the property, let alone lived in it. The bank has no idea if the handrail is loose, if there are barking dogs next door, or if meth was manufactured in the second bedroom. Make sure that you do any inspections necessary to ensure that you have a good grasp on the condition of the property- very little information will be provided to you by the seller.
Coming soon! What you should know BEFORE you make an offer, Part 3.
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By the way, if you like the yellow house in the picture…. it can be yours for ONLY $79,900! That is $55,000 less than any other stick built home in Paradise CA!!
Give me a call right away 530-864-5407– it’ll be gone quick.
Looking to buy or sell Chico CA Real Estate? Need a Top Producing Chico CA Realtor? Call Sandi Bauman 530-864-5407 or email [email protected]. Specializing in REO, residential, relocation, investment & ag property.
| Discussion: 6 Comments »
Foreclosures: What you should know BEFORE you make an offer, Part 1
November 12th, 2007 categories: Anatomy of a Chico CA Real Estate Transaction, Chico Buyers, Chico CA Foreclosure Listings
This is part 1 in a series of helpful hints to purchasing foreclosures in Chico, CA.
“Foreclosure” sees to be the new buzzword around Chico, CA these days. Everyone wants to score that awesome Chico CA real estate deal, and people are looking to the foreclosures in Chico to make it happen. In truth, most people are actually wanting “REO” property. In other words… the bank now holds the title.
The process of purchasing an REO property can be significantly different than your average residential purchase. Not always, of course, but often enough that you should know ahead of time what you might run into.
Before offering on a Chico, CA REO property, you should know:
1. Not all REO’s are phenomenal deals!
Just because the listing agent labels it “foreclosure!” doesn’t mean that it is a steal. I work with a least one bank that takes the appraisal price and ups it by 5% to arrive at the asking price. Make sure that you are working with a competent Chico Realtor who can help you ascertain whether or not the property is priced competitively.
2 . The bank has no emotional ties to the property.
Unlike a typical homeowner, the bank is emotionally detached during the negotiating process- it’s completely impersonal. Truly, your offer is just one of many files sitting in a pile on somebody’s desk. The strategies that might help you score in a traditional transaction are unlikely to work with a bank employee located in Texas. They have a specific set of rules and time-lines to follow, and little else matters to them.
3. The bank operates on their schedule, not yours.
“Time is of the essence” in a typical transaction. If, as a buyer, you allow the seller 3 days to respond to your offer, they will usually respond as quickly as possible in order to facilitate the transaction. A bank may respond in an hour, or it make take several weeks to get an answer! Don’t make the mistake of thinking the bank isn’t considering your offer- sometimes the contract has to be approved by a series of 5 or 6 people at the company before you get the good news. Conversely, I’ve found that once an offer is approved, the bank will steamroll over anybody or anything that gets in the way of closing the deal on time. Usually, they want to close within the same month the contract is approved!
Coming soon! What you should know BEFORE you make an offer, Part 2.
Like what you’re reading?
Click here to SUBSCRIBE to Chico CA Real Estate Blog and MLS Listings Search!
Have specific questions on the foreclosure process? I’m glad to help, whether you are a seller facing foreclosure, or a buyer looking to purchase. Give me a call! 530-864-5407.
Looking to buy or sell Chico CA Real Estate? Need a Top Producing Chico CA Realtor? Call Sandi Bauman 530-864-5407 or email [email protected]. Specializing in REO, residential, relocation, investment & ag property.
| Discussion: 8 Comments »
Chico, California Foreclosures and West Nile Virus
September 16th, 2007 categories: Chico CA Foreclosure Listings, Chico CA Real Estate News
Rumor has it that the United States’ foreclosure epidemic could be contributing to the spread of the West Nile Virus.
Reports are showing that the number of people in California testing positive for the West Nile virus has increased three-fold compared to last year. Many experts are blaming the increasing problem on the pools located in the yards of foreclosure properties.
The electrical service is typically suspended on properties in the months between the time the former owners have stopped paying the bills and the time a Realtor or management company begins to look after the maintenance of the home. The pumps on the pools cease to operate, creating a giant, stagnant pool of water in which mosquitoes often breed. Mosquitoes are known to transmit the virus to humans after being infected from a bird.West Nile often takes a harder toll on the elderly, people with suppressed immune systems, and children. The West Nile virus is to blame for as many as 5 deaths have in California alone this year. A state of emergency was declared by California Governor Schwarzenegger for Colusa, Kern and San Joaquin counties.
Two of my three Chico, CA foreclosure properties that I’ve had listed in the past month had pools. Both of these pools were NASTY! I specifically cautioned my daughter on a recent trip to one of the properties. She’s only 9, but took heed and stayed in the front yard. This particular pool had 2 dead birds in it, as well as an unbelievable little ecosystem full of assorted little critters… some not so little!
People can reduce their risk of West Nile infection by following some common sense procedures.
1. Avoid time outdoors, especially when mosquitoes are most active. This typically is at dusk and dawn. 2. If you must be outside, wear appropriate clothing: long pants, long sleeves, shoes and socks. 3. Make sure that you apply mosquito repellent. It should contain DEET, eucalyptus oil, or Picaridin. 4. Make sure your screens and doors are adequately sealed. Replace any screens that have holes or tears. 5. Do not allow water to sit anywhere on your property. Empty birdbaths, buckets of water, keep the pool filter running, monitor your sprinkler operation, and change the dog’s bowl frequently!
Remember, your best protection is prevention. Use good common sense to avoid bites and illness.
For more information about West Nile Virus:
- California Web site: http://www.westnile.ca.gov/
- California Information Line: Toll-free 1-877-WNV-BIRD (968-2473).
- Butte County and Chico, CA www.buttecounty.net/publichealth
Informational Brochure (PDF):
Also, report any dead bird that may have died less than 48 hours prior to http://www.westnile.ca.gov/.
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Looking to buy or sell Chico CA Real Estate? Need a Top Producing Chico CA Realtor? Call Sandi Bauman 530-864-5407 or email [email protected]. Specializing in REO, residential, relocation, investment & ag property.
| Discussion: 1 Comment »
