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How do I bid on a forcelosure in Pasadena CA

How do I bid on a forcelosure in Pasadena CA
  • March 22 2009 - South
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Answers (3)

Best Answer

Profile picture for space_acer
If this was April 1st... I would say bid and pay what the prior homeowner paid for ...  LOL


But seriously. LOWBALL LIKE CRAZY an bid what homes were selling for 10 years ago (prior to the bubble) plus inflation  ie 30%.  Say 200K then and $260K or so today.

Research using Dqnews and zillow price history of said home or nearby home ...

BTW...
http://www.housingbubblebust.com/OFHEO/Major/SoCal.html
http://dqnews.com/Charts/Monthly-Charts/LA-Times-Charts/ZIPLAT.aspx

Bear in mind what prices were before the bubble in California circa 1997.
Disregard what prices were over the past 10 years. They will never come back again...  That is the nature of Bubbles.
  • March 22 2009
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Profile picture for blue screen exile
That question really should be asked to CountrySlide, since they were located in Pasadena, started in Pasadena, and helped create all the foreclosures across the nation.  Not to mention, they needed to be foreclosed on.  So they really should know how foreclosure liquidation goes in Pasadena, and how to best take advantage of lenders like CountrySlide.

  • August 10 2009
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Unless the foreclosed home is specifically up for auction, you would submit an offer like on a regular sale. If you're working with an agent he/she can put together an offer for you and submit it to the bank. 
  • August 09 2009
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