You would be surprised how many times I am asked this question with amounts varying from as little as $5000 to as “high” as $50,000. And my answer to that is an easy no. Last week, I even had someone ask me about an $81,000 home in Foxenwood Estates! When I ask these potential buyers where they are getting this type of information, they point to the various foreclosure related websites. After sampling a few, I’ve found that for properties that are in pre-foreclosure (i.e. a Notice of Default has been filed) the amount of the payments that are in arrears, or the amount of the second loan owing on the property shows up as the list price, when in fact the home may not even be listed with a broker. These sites may be useful in showing you which homes may come back on the market as REOs (others may be short saled or the loans may be modified), but they are not useful in obtaining the actual list price of properties. Things are great price wise for buyers, but they aren’t that good! So, no there are no $25,000 homes in Santa Maria!!!
Tni LeBlanc, JD, M.A., e-PRO
Broker/Owner, Mint Properties
(805) 878-9879, tni@MintProp.com
*Based on the information from the Central Coast Regional MLS. Neither the Association, the Multiple Listing Service, or Mint Properties guarantees or is in any way responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activity in the market.