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Re: numbers

Posted by steele in minnesota on March 25, 2007 at 23:08:09:

In Reply to: Re: numbers posted by NJDave on March 25, 2007 at 18:00:20:

I have worked with RealtyTrac for a couple of years. Frankly their info on bank owned properties is many times wrong or misleading. But not deliberate. They tend to place properties that are in the early stages of foreclosure into the wrong category of being bank owned. What you see as $ is not a price but what is the opening bid of the sheriff sale (usually).

Also when you see very small prices it is usually an association foreclosing for back dues. As NJDave suggests pennies on the dollar is rarely the case.

Sadly, although RealtyTrac is very well known it is also largely inaccurate in many areas of the country. Here in Minnesota it is about 95% wrong on it's list of bank owned.

I know as I work with these properties every day.

Steele

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