Got Foreclosure! - Blog

The map below shows properties that are currently in foreclosure in the 91006 zip code in Arcadia, CA.

A total 72 properties are shown.

• 44 of them are in “pre-foreclosure” (green pins)
• 11 are “auction opportunities” that will be sold at trustee sale shortly
• The 17 remaining properties are bank-owned (REO).  The REO properties may be listed on the MLS or still in the process of evicting the previous owner or tenant.

What does this picture tell us?

1. There is a higher concentration of foreclosure homes in the lower Arcadia area, which is slightly to quite a bit lower priced than the are North of the 210 freeway.
2. There are no bank owned properties North of the freeway. That supports the theory that higher priced homes are still more saught after and therefore retain more equity, which gives the owners more options to avoid a trustee sale.

BTW: You can do your own free search right here:
(Just type in 91006 in the location and click “Search”, and you’ll get an interactive version of the map above.)

Now, what can you do with this information? Unless you are just here to amuse yourself with foreclosure and real estate market theory, there are different opportunities and ways to pursue them.

1. Pre-Foreclosure: Approach the home owner and purchase the property directly from him/her if he/she is willing to sell.
2. Auction: Bid for and purchase the property at a trustee sale auction at the courthouse steps.
3. Bank Owned: Wait until the proeprty is listed on the MLS and make an offer.

Sounds like work? Well, it is - AND it helps when you know what you’re doing. If you take the time to get educated about the possibilities it can be worth while, and you could save a bundle on buying your next home or investment property.

Contact me if you need help. We are not real estate agents. We are a group of active foreclosure and real estate investors who specilaize in locating and negotiating great deals on real estate.

See several case studies of foreclosure properties in Arcadia on the Arcadia Housing Blog.