Paradise CA Foreclosure, 1328 Bille Road
November 16th, 2007categories: Chico CA Real Estate News
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Sandi Bauman
Chico Realtor
2580 Sierra Sunrise Terrace, Suite 120
Chico, CA 95928
cell: 530-864-5407
email: sandibauman@sbcglobal.net Like What You're Reading? Submit your email to be notified of new articles! Really Simple Syndication Chico Foreclosure Hotsheet Chico Luxury Homes
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Can this be assumed with 7500.00 Cash upfront and keeping the fixed rate interest? I need a payment of 500.00 or in that area so I can pay taxes and ins. I am disabled on a fixed income.
Why are these Homes being sold for retail prices and not the forclosure price at the county COURTHOUSE as the SEC requires,Banks are not Real Estate Companies.This is a Federal Law..
Todd-
Sorry for the delay in response. This particular property actually sold already, and I haven’t seen another property priced that low since.
Something to keep in mind if you are on a fixed income: any home priced that low in Paradise, Magalia or Chico is probably inhabitable. This one was sold basically at the cost of the land… little to now value was actually attributed to the home because it was in such poor condition. You will need to consider the cost of rehabilitating a property such as this in addition to the cost of the loan.
I would be more than happy to put you in touch with one of my trusted mortgage professionals if you are interested. If you haven’t already spoken with a lender, they can give you a realistic picture of what type of property you will qualify for.
I don’t think that the statement “homes being sold for retail prices” is an accurate one. I have participated in several transactions in which the bank has sold a property for $100,000 less than what was owed to them. In many cases, the banks are taking considerable losses on the properties because the previous buyers were over-extended.
To my knowledge, each house that is listed for sale with a Realtor has already been offered for sale by auction. In the event that the bank doesn’t procure a buyer, they market it through a Realtor.