patrick.net

Is this online search in your county website? Or paid service like RealtyTrac?

This a utility included in a realtor's MLS account.

It's called Realist.

Daly City has a massive amount of shadow inventory. I just don't know when they will unload it. The search that limits me to 100 prohibits me from seeing how many there really are. But I do know that the 100 I pulled up were from the past 3 or 4 months at a glance. There must be alot more from beyond those dates.

What we really need is someone inside a big bank's REO department who has access to records listing what the bank owns. They could tell us. Then again, maybe I'd get sued for letting people know the truth. Might hurt bank profits.

I suppose it's possible to get all this from public county records, since mortgage defaults and foreclosures are legally recorded. The counties are a pain to deal with. They don't give free and open access to public records. In the San Mateo County office, they gave me a pencil and told me I could write down transfer tax records off computer searches, one at a time. No printer, no disks, no electronic access at all. But that was maybe three years ago. Might be better now.

I guess I can actually narrow my searches down by city block. I am not savvy with the tool yet. But there are probably about 10 REO properties in the market in Daly City at the moment.

Vain thanks for information. Can you by any chance take a look at shadow inventory in Burbank CA ( zip 91505 ) and also LA CANADA FLINTRIDGE (zip 91011 ).

Thanks in advance

mnsweeps says

Vain thanks for information. Can you by any chance take a look at shadow inventory in Burbank CA ( zip 91505 ) and also LA CANADA FLINTRIDGE (zip 91011 ).
Thanks in advance

Sorry mnsweeps. My account is limited to San Mateo County.
Edit:
Oooops. I take that mnsweeps. Here you go for Burbank, CA. It's the first 25 of 44.

Bank Owned
Property 1 of 44
Address 112 N Avon St Zip Code 91505
Owner Name Burbank Media Vlg Llc Recording Date 06/18/1973
Sale Price $22,000 Total Assessment $66,979
Annual Tax $838 Bedrooms 4
Total Baths 2 Building Sq Ft 1,324
Lot Sq Ft 5427.576 Lot Acres .1246
Universal Land Use Duplex Year Built 1930
Effective Year Built 1930 Subdivision 10135
APN 2483-023-435

Bank Owned
Property 2 of 44 Multiple Building Card Summary
Address 116 N Avon St Zip Code 91505
Owner Name Burbank Media Vlg Llc Recording Date 07/31/1991
Settle Date 07/00/1991 Total Assessment $479,235
Annual Tax $3,502 Bedrooms 6
Total Baths 3 Building Sq Ft 2,503
Lot Sq Ft 11647.944 Lot Acres .2674
Universal Land Use Triplex Year Built 1940
Subdivision 10135 APN 2483-023-434

Bank Owned
Property 2 of 44 Building 1 of 2
Address 116 N Avon St Zip Code 91505
Owner Name Burbank Media Vlg Llc Recording Date 07/31/1991
Settle Date 07/00/1991 Total Assessment $479,235
Annual Tax $3,502 Bedrooms 2
Total Baths 1 Building Sq Ft 929
Lot Sq Ft 11647.944 Lot Acres .2674
Universal Land Use Triplex Year Built 1940
Subdivision 10135 APN 2483-023-434

Bank Owned
Property 2 of 44 Building 2 of 2
Address 116 N Avon St Zip Code 91505
Owner Name Burbank Media Vlg Llc Recording Date 07/31/1991
Settle Date 07/00/1991 Total Assessment $479,235
Annual Tax $3,502 Bedrooms 4
Total Baths 2 Building Sq Ft 1,574
Lot Sq Ft 11647.944 Lot Acres .2674
Universal Land Use Triplex Year Built 1948
Subdivision 10135 APN 2483-023-434

Bank Owned
Property 3 of 44
Address 1446 N Avon St Zip Code 91505
Owner Name Aurora Ln Svcs Llc Recording Date 09/28/2006
Settle Date 09/06/2006 Sale Price $580,000
Total Assessment $444,700 Annual Tax $4,877
Bedrooms 3 Total Baths 1
Building Sq Ft 1,109 Lot Sq Ft 6,712
Lot Acres .1541 Universal Land Use SFR
Stories 1 Year Built 1941
Effective Year Built 1941 Subdivision 8710
APN 2437-025-008

Bank Owned
Property 4 of 44
Address 1535 N Avon St Zip Code 91505
Owner Name Peoples Choice Hm Loan 2005-2 Recording Date 01/31/2005
Settle Date 01/18/2005 Sale Price $669,000
Total Assessment $566,200 Annual Tax $6,219
Bedrooms 3 Total Baths 2
Building Sq Ft 2,022 Lot Sq Ft 7,800
Lot Acres .179 Universal Land Use SFR
Stories 1 Year Built 1941
Effective Year Built 1953 Subdivision 8710
APN 2437-022-025

Bank Owned
Property 5 of 44
Address 1404 N Catalina St Zip Code 91505
Owner Name Structured Asset Trust 2006-4 Recording Date 05/12/2006
Settle Date 04/11/2006 Sale Price $659,000
Total Assessment $405,000 Annual Tax $4,467
Bedrooms 3 Total Baths 2
Building Sq Ft 1,570 Lot Sq Ft 6,400
Lot Acres .1469 Universal Land Use SFR
Stories 1 Year Built 1941
Effective Year Built 1944 Subdivision 12653
APN 2438-004-011

Bank Owned
Property 6 of 44
Address 1517 N Catalina St Zip Code 91505
Owner Name Zamora Antonio Recording Date 02/18/2005
Settle Date 01/21/2005 Sale Price $650,000
Total Assessment $453,800 Annual Tax $4,996
Bedrooms 3 Total Baths 3
Building Sq Ft 1,732 Lot Sq Ft 6,400
Lot Acres .1469 Universal Land Use SFR
Stories 1 Year Built 1941
Effective Year Built 1946 APN 2437-013-010

Bank Owned
Property 7 of 44
Address 3210 W Chandler Blvd Zip Code 91505
Owner Name Federal Natl Mtg Assn Fnma Recording Date 04/13/2006
Settle Date 03/16/2006 Sale Price $545,000
Total Assessment $325,500 Annual Tax $3,566
Bedrooms 1 Total Baths 1
Building Sq Ft 667 Lot Sq Ft 3,375
Lot Acres .0774 Universal Land Use SFR
Stories 1 Year Built 1948
Effective Year Built 1960 Subdivision 7976
APN 2477-024-004

Bank Owned
Property 8 of 44
Address 900 N Clybourn Ave Zip Code 91505
Owner Name Kucia Bud & L Living Trust Recording Date 01/05/2009
Settle Date 12/08/2008 Sale Price $391,500
Total Assessment $500,000 Annual Tax $5,465
Bedrooms 2 Total Baths 1
Building Sq Ft 1,104 Lot Sq Ft 5,870
Lot Acres .1347 Universal Land Use SFR
Stories 1 Year Built 1939
Effective Year Built 1939 APN 2481-013-021

Bank Owned
Property 9 of 44
Address 1466 N Clybourn Ave Zip Code 91505
Owner Name Accubanc Mtg Recording Date 05/30/2003
Settle Date 03/26/2003 Sale Price $303,000
Total Assessment $340,775 Annual Tax $3,773
Bedrooms 4 Total Baths 2
Building Sq Ft 1,251 Lot Sq Ft 7,496
Lot Acres .1721 Universal Land Use SFR
Stories 1 Year Built 1941
Effective Year Built 1943 Subdivision 9008
APN 2435-027-006

Bank Owned
Property 10 of 44
Address 1417 N Fairview St Zip Code 91505
Owner Name Berry Brent V Owner Name 2 Ferguson Susan L
Recording Date 12/21/2006 Settle Date 10/30/2006
Sale Price $750,000 Total Assessment $510,000
Annual Tax $5,591 Bedrooms 2
Total Baths 2 Building Sq Ft 1,531
Lot Sq Ft 6,300 Lot Acres .1446
Universal Land Use SFR Stories 1
Year Built 1947 Effective Year Built 1953
Subdivision 9785 APN 2437-017-019

Bank Owned
Property 11 of 44
Address 822 N Florence St Zip Code 91505
Owner Name Securitized Asset Trust 2006-H Owner Name 2 !e2
Recording Date 12/30/1999 Settle Date 12/21/1999
Sale Price $213,000 Total Assessment $288,244
Annual Tax $3,124 Bedrooms 2
Total Baths 1 Building Sq Ft 1,052
Lot Sq Ft 6,750 Lot Acres .1549
Universal Land Use SFR Stories 1
Year Built 1924 Effective Year Built 1925
Subdivision 7976 APN 2478-021-011

Bank Owned
Property 12 of 44
Address 1745 N Frederic St Zip Code 91505
Owner Name Flagstar Bk Fsb Recording Date 04/04/2007
Settle Date 03/06/2007 Sale Price $719,000
Total Assessment $593,600 Annual Tax $6,412
Bedrooms 3 Total Baths 2
Building Sq Ft 1,495 Lot Sq Ft 6,750
Lot Acres .1549 Universal Land Use SFR
Stories 1 Year Built 1938
Effective Year Built 1943 Subdivision 5061
APN 2463-017-026

Bank Owned
Property 13 of 44
Address 442 N Hollywood Way Zip Code 91505
Owner Name Wells Fargo Bk 2005-Whq3 Total Assessment $158,551
Annual Tax $1,772 Bedrooms 4
Total Baths 2 Building Sq Ft 1,848
Lot Sq Ft 6,983 Lot Acres .1603
Universal Land Use Duplex Year Built 1948
Effective Year Built 1949 Subdivision 14018
APN 2483-010-007

Bank Owned
Property 14 of 44
Address 1900 N Hollywood Way Zip Code 91505
Owner Name Onewest Bk Fsb Recording Date 08/27/2004
Settle Date 08/08/2004 Sale Price $515,000
Total Assessment $557,450 Annual Tax $6,091
Bedrooms 4 Total Baths 4
Building Sq Ft 1,614 Lot Sq Ft 2,696
Lot Acres .0619 Universal Land Use Duplex
Stories 2 Year Built 1985
Effective Year Built 1985 APN 2437-001-019

Bank Owned
Property 15 of 44
Address 333 N Kenwood St # J Zip Code 91505
Owner Name Structured Asset Mtg 2007-Ar1 Recording Date 11/17/2006
Settle Date 10/03/2006 Sale Price $579,000
Total Assessment $464,500 Annual Tax $5,088
Bedrooms 2 Total Baths 3
Building Sq Ft 1,624 Lot Sq Ft 1481.04
Lot Acres .034 Universal Land Use Condominium
Year Built 1982 Effective Year Built 1982
Subdivision 36831 APN 2482-008-048

Bank Owned
Property 16 of 44
Address 2109 N Kenwood St Zip Code 91505
Owner Name Indymac Indx Mtg Ln 2005-Ar18 Recording Date 09/03/2003
Settle Date 08/07/2003 Sale Price $400,000
Total Assessment $441,628 Annual Tax $4,797
Bedrooms 3 Total Baths 2
Building Sq Ft 1,840 Lot Sq Ft 6,750
Lot Acres .1549 Universal Land Use SFR
Stories 1 Year Built 1940
Effective Year Built 1949 Subdivision 12315
APN 2463-002-015

Bank Owned
Property 17 of 44
Address 4447 W Lakeside Dr # 203 Zip Code 91505
Owner Name Caston Andrea M Recording Date 05/02/2006
Settle Date 02/07/2006 Sale Price $600,000
Total Assessment $313,400 Annual Tax $3,373
Bedrooms 2 Total Baths 2
Building Sq Ft 992 Lot Sq Ft 11573.0998
Lot Acres .2657 Universal Land Use Condominium
Year Built 2002 Effective Year Built 2002
Subdivision 53395 APN 2485-018-046

Bank Owned
Property 18 of 44
Address 326 N Lima St Zip Code 91505
Owner Name Robbins Family Trust Recording Date 04/14/2004
Settle Date 04/01/2004 Sale Price $750,000
Total Assessment $705,700 Annual Tax $7,636
Bedrooms 4 Total Baths 3
Building Sq Ft 2,185 Lot Sq Ft 6,075
Lot Acres .1394 Universal Land Use SFR
Year Built 2004 Effective Year Built 2004
Subdivision 6894 APN 2483-017-013

Bank Owned
Property 19 of 44
Address 339 N Lima St Zip Code 91505
Owner Name Cwalt Inc Trust 2007-19 Recording Date 05/23/2007
Settle Date 04/13/2007 Sale Price $800,000
Total Assessment $591,000 Annual Tax $6,459
Bedrooms 3 Total Baths 2
Building Sq Ft 1,576 Lot Sq Ft 6,075
Lot Acres .1394 Universal Land Use SFR
Stories 1 Year Built 1926
Effective Year Built 1974 Subdivision 6894
APN 2483-015-008

Bank Owned
Property 20 of 44
Address 2624 W Magnolia Blvd Zip Code 91505
Owner Name Aztec Finl Recording Date 12/02/2005
Settle Date 08/25/2005 Sale Price $80,000
Total Assessment $84,896 Annual Tax $2,410
Lot Sq Ft 4835.16 Lot Acres .111
Universal Land Use Residential Lot APN 5309-011-021

Bank Owned
Property 21 of 44
Address 355 N Maple St # 235 Zip Code 91505
Owner Name Federal Natl Mtg Assn Fnma Total Assessment $263,600
Annual Tax $2,816 Bedrooms 1
Total Baths 2 Building Sq Ft 690
Lot Sq Ft 39642.3696 Lot Acres .9101
Universal Land Use Condominium Year Built 1985
Effective Year Built 1990 APN 2482-008-125

Bank Owned
Property 22 of 44
Address 1211 N Maple St Zip Code 91505
Owner Name Us Bank Na Recording Date 03/14/2002
Settle Date 02/01/2002 Sale Price $250,000
Total Assessment $341,117 Annual Tax $3,715
Bedrooms 3 Total Baths 2
Building Sq Ft 1,826 Lot Sq Ft 6,000
Lot Acres .1377 Universal Land Use SFR
Stories 1 Year Built 1942
Effective Year Built 1967 Subdivision 9956
APN 2476-006-009

Bank Owned
Property 23 of 44
Address 1311 N Naomi St Zip Code 91505
Owner Name Federal Natl Mtg Assn Fnma Recording Date 06/21/2007
Settle Date 06/01/2007 Sale Price $545,000
Total Assessment $359,500 Annual Tax $3,945
Bedrooms 2 Total Baths 1
Building Sq Ft 850 Lot Sq Ft 4,811
Lot Acres .1104 Universal Land Use SFR
Stories 1 Year Built 1941
Effective Year Built 1941 APN 2438-003-022

Bank Owned
Property 24 of 44
Address 635 N Niagara St Zip Code 91505
Owner Name Bluefin Fund Llc Recording Date 11/04/1999
Settle Date 11/02/1999 Total Assessment $251,841
Annual Tax $2,834 Bedrooms 4
Total Baths 2 Building Sq Ft 1,581
Lot Sq Ft 6,377 Lot Acres .1464
Universal Land Use Duplex Year Built 1943
Effective Year Built 1943 Subdivision 13123
APN 2479-013-014

Bank Owned
Property 25 of 44
Address 730 N Niagara St Zip Code 91505
Owner Name Levitt Milton & C Family Trust Owner Name 2 Hda Mtg Fund Llc
Recording Date 12/19/2007 Settle Date 09/14/2007
Sale Price $610,000 Total Assessment $622,200
Annual Tax $6,780 Bedrooms 2
Total Baths 1 Building Sq Ft 1,114
Lot Sq Ft 6,750 Lot Acres .1549
Universal Land Use SFR Stories 1
Year Built 1938 Effective Year Built 1938
Subdivision 9572 APN 2479-010-014

Your Search Parameters:

State: CA
County: LOS ANGELES
Entered Zip: 91505
Foreclosure Stage: Bank Owned

mnsweeps says

91011

And in 91011.
Bank Owned
Property 1 of 19
Address 5830 Angeles Crest Hwy Zip Code 91011
Owner Name Wells Fargo Bk Na Recording Date 02/06/2003
Settle Date 01/20/2003 Sale Price $1,270,000
Total Assessment $1,428,355 Annual Tax $16,618
Bedrooms 5 Total Baths 6
Building Sq Ft 6,381 Lot Sq Ft 18,200
Lot Acres .4626 Universal Land Use SFR
Stories 2 Year Built 1988
Effective Year Built 1988 APN 5817-002-025

Bank Owned
Property 2 of 19
Address 4523 Belita Ln Zip Code 91011
Owner Name Onewest Bk Fsb Recording Date 11/24/2003
Settle Date 10/30/2003 Sale Price $729,000
Total Assessment $861,900 Annual Tax $10,551
Bedrooms 2 Total Baths 1
Building Sq Ft 1,379 Lot Sq Ft 9,450
Lot Acres .2169 Universal Land Use SFR
Stories 1 Year Built 1947
Effective Year Built 1948 Subdivision 13070
APN 5819-027-001

Bank Owned
Property 3 of 19
Address 285 Berkshire Ave Zip Code 91011
Owner Name Derrostomian Stella Recording Date 12/26/2003
Settle Date 12/22/2003 Sale Price $1,600,010
Total Assessment $3,060,000 Annual Tax $34,163
Bedrooms 3 Total Baths 2
Building Sq Ft 2,888 Lot Sq Ft 169,884
Lot Acres 3.9 Universal Land Use SFR
Year Built 1946 Effective Year Built 1957
APN 5821-020-007

Bank Owned
Property 4 of 19
Address 4138 Cambridge Rd Zip Code 91011
Owner Name Jpmorgan Chase Bank Na Recording Date 03/26/1997
Sale Price $1,450,000 Total Assessment $1,317,871
Annual Tax $14,979 Bedrooms 3
Total Baths 6 Building Sq Ft 6,657
Lot Sq Ft 24,890 Lot Acres .5713
Universal Land Use SFR Stories 3
Year Built 1986 Effective Year Built 1986
Subdivision 7266 APN 5821-016-016

Bank Owned
Property 5 of 19
Address 4836 Castle Rd Zip Code 91011
Owner Name Aksv Llc Recording Date 01/23/2003
Settle Date 11/27/2002 Sale Price $695,000
Total Assessment $866,100 Annual Tax $11,378
Bedrooms 3 Total Baths 3
Building Sq Ft 2,373 Lot Sq Ft 15,000
Lot Acres .3443 Universal Land Use SFR
Stories 1 Year Built 1952
Effective Year Built 1958 Subdivision Beachs Add
APN 5870-020-006

Bank Owned
Property 6 of 19
Address 4408 Commonwealth Ave Zip Code 91011
Owner Name Pacifica Loan Eight Llc Recording Date 08/14/1998
Settle Date 07/31/1998 Sale Price $585,000
Total Assessment $897,098 Annual Tax $10,297
Bedrooms 4 Total Baths 6
Building Sq Ft 3,802 Lot Sq Ft 9,675
Lot Acres .2221 Universal Land Use SFR
Stories 2 Year Built 1939
Effective Year Built 1985 Subdivision 11081
APN 5814-019-012

Bank Owned
Property 7 of 19
Address 5050 Crown Ave Zip Code 91011
Owner Name Imb Reo Llc Recording Date 10/31/2006
Settle Date 10/24/2006 Sale Price $900,000
Total Assessment $936,360 Annual Tax $11,292
Bedrooms 3 Total Baths 2
Building Sq Ft 1,615 Lot Sq Ft 7,900
Lot Acres .1813 Universal Land Use SFR
Stories 1 Year Built 1951
Effective Year Built 1953 APN 5817-022-024

Bank Owned
Property 8 of 19
Address 1615 Del Oro Dr Zip Code 91011
Owner Name Akart Llc Recording Date 12/13/2006
Settle Date 11/08/2006 Sale Price $1,365,000
Total Assessment $1,219,400 Annual Tax $15,287
Bedrooms 3 Total Baths 2
Building Sq Ft 2,275 Lot Sq Ft 14,850
Lot Acres .3409 Universal Land Use SFR
Stories 1 Year Built 1957
Effective Year Built 1957 Subdivision 4598
APN 5864-007-007

Bank Owned
Property 9 of 19
Address 4401 El Camino Corto Zip Code 91011
Owner Name Indymac Indx Mtg Ln 2006-Ar35 Recording Date 07/16/2004
Settle Date 05/12/2004 Sale Price $1,097,000
Total Assessment $1,187,315 Annual Tax $13,444
Bedrooms 5 Total Baths 4
Building Sq Ft 3,317 Lot Sq Ft 5,720
Lot Acres .1313 Universal Land Use SFR
Year Built 2002 Effective Year Built 2002
Subdivision La Canada Ro APN 5813-001-032

Bank Owned
Property 10 of 19
Address 4465 Gould Ave Zip Code 91011
Owner Name Bank Of America Na Recording Date 04/30/1999
Settle Date 03/30/1999 Sale Price $650,000
Total Assessment $3,602,400 Annual Tax $40,105
Bedrooms 5 Total Baths 6
Building Sq Ft 5,620 Lot Sq Ft 35,206
Lot Acres .8082 Universal Land Use SFR
Stories 1 Year Built 2002
Effective Year Built 2002 Subdivision 5676
APN 5820-001-004

Bank Owned
Property 11 of 19
Address 4511 Hillard Ave Zip Code 91011
Owner Name Harborview 2006-1 Trust Fund Recording Date 03/16/2004
Settle Date 03/11/2004 Sale Price $620,000
Total Assessment $684,526 Annual Tax $8,212
Bedrooms 2 Total Baths 2
Building Sq Ft 1,530 Lot Sq Ft 11499.84
Lot Acres .264 Universal Land Use SFR
Year Built 1942 Effective Year Built 1942
Subdivision Hillard Tr APN 5806-005-028

Bank Owned
Property 12 of 19
Address 1120 Inverness Dr Zip Code 91011
Owner Name Ho William K Owner Name 2 Ho Sunee K
Recording Date 08/30/2005 Settle Date 08/03/2005
Sale Price $1,400,000 Total Assessment $1,084,010
Annual Tax $12,284 Bedrooms 3
Total Baths 5 Building Sq Ft 3,285
Lot Sq Ft 22,660 Lot Acres .5202
Universal Land Use SFR Stories 1
Year Built 1951 Effective Year Built 1970
Subdivision 8882 APN 5658-013-010

Bank Owned
Property 13 of 19
Address 458 Knight Way Zip Code 91011
Owner Name Cccc Growth Fund Llc Recording Date 07/05/1974
Sale Price $57,000 Total Assessment $1,080,400
Annual Tax $12,992 Bedrooms 3
Total Baths 2 Building Sq Ft 1,723
Lot Sq Ft 19,670 Lot Acres .4515
Universal Land Use SFR Stories 1
Year Built 1951 Effective Year Built 1951
Subdivision Gould Tr APN 5817-008-022

Bank Owned
Property 14 of 19
Address 5325 La Forest Dr Zip Code 91011
Owner Name Wamu 2007-Oa5 Recording Date 04/12/2007
Settle Date 03/22/2007 Sale Price $1,280,455
Total Assessment $950,600 Annual Tax $12,688
Bedrooms 3 Total Baths 1
Building Sq Ft 1,821 Lot Sq Ft 13,800
Lot Acres .3168 Universal Land Use SFR
Stories 1 Year Built 1950
Effective Year Built 1952 APN 5806-021-004

Bank Owned
Property 15 of 19
Address 817 La Porte Dr Zip Code 91011
Owner Name Eighty Twenty Three Llc Owner Name 2 Perez Teylez
Recording Date 05/05/2005 Settle Date 04/06/2005
Sale Price $979,000 Total Assessment $1,200,000
Annual Tax $14,607 Bedrooms 3
Total Baths 3 Building Sq Ft 2,703
Lot Sq Ft 12,500 Lot Acres .2869
Universal Land Use SFR Stories 1
Year Built 1940 Effective Year Built 1970
Subdivision La Canada Land & Water Cos APN 5815-013-028

Bank Owned
Property 16 of 19
Address 819 Parkman Dr Zip Code 91011
Owner Name Cwalt Inc Trust 2007-Hy4 Recording Date 04/06/2007
Settle Date 03/06/2007 Sale Price $1,067,000
Total Assessment $1,128,600 Annual Tax $13,672
Bedrooms 3 Total Baths 4
Building Sq Ft 2,162 Lot Sq Ft 9,580
Lot Acres .2199 Universal Land Use SFR
Stories 1 Year Built 1948
Effective Year Built 1962 APN 5815-010-012

Bank Owned
Property 17 of 19
Address 4528 Rockland Pl Zip Code 91011
Owner Name Nomura Home Equity 2006-He2 Recording Date 01/12/2001
Settle Date 10/27/2000 Sale Price $390,000
Total Assessment $456,344 Annual Tax $6,823
Bedrooms 3 Total Baths 1
Building Sq Ft 1,329 Lot Sq Ft 6,340
Lot Acres .1455 Universal Land Use SFR
Stories 1 Year Built 1951
Effective Year Built 1970 Subdivision Beachs Add
APN 5870-008-011

Bank Owned
Property 18 of 19
Address 4554 Viro Rd Zip Code 91011
Owner Name Wells Fargo Bk 2007-E Recording Date 07/11/2007
Settle Date 06/12/2007 Sale Price $1,620,000
Total Assessment $1,652,400 Annual Tax $18,840
Bedrooms 4 Total Baths 4
Building Sq Ft 4,010 Lot Sq Ft 9,072
Lot Acres .2082 Universal Land Use SFR
Stories 1 Year Built 1945
Effective Year Built 1989 APN 5819-029-010

Bank Owned
Property 19 of 19
Address 4930 Viro Rd Zip Code 91011
Owner Name Aurora Ln Svcs Llc Recording Date 06/18/2003
Settle Date 04/22/2003 Sale Price $750,000
Total Assessment $853,920 Annual Tax $10,714
Bedrooms 4 Total Baths 2
Building Sq Ft 1,843 Lot Sq Ft 3,690
Lot Acres .0847 Universal Land Use SFR
Year Built 1953 Effective Year Built 1956
Subdivision 13430 APN 5819-020-030

Thanks Vain. Can I be in touch with you? You have access to more info than lesser mortals like me.. my email address is mnsweeps at yahoo dot com. Thanks again

What is the difference between sale amount and assessment? Would sale price be last sale or what the bank "bought" it back from the previous owner for? The difference isn't huge in most cases.

It's fun to guess at how serious this is for banks, but it would be interesting to see what they normally own to normal foreclosures. We know there is some shadow inventory. But how much difference is there in inventory now vs normal times?

Are all of these homes not for sale right now? I wonder if you could approach the banks to try and buy one of these.

pkennedy says

What is the difference between sale amount and assessment? Would sale price be last sale or what the bank “bought” it back from the previous owner for? The difference isn’t huge in most cases.
It’s fun to guess at how serious this is for banks, but it would be interesting to see what they normally own to normal foreclosures. We know there is some shadow inventory. But how much difference is there in inventory now vs normal times?
Are all of these homes not for sale right now? I wonder if you could approach the banks to try and buy one of these.

Assessment is just what the county assessed the value of the property as for tax purposes. Last sale is not what the bank bought it back for. I'd have to look specifically into the property to show that information. The sale price listed is what the defaulter bought the property for.

I'd have to search hard in the list for Daly City to find one that is actually listed for sale. So to answer your question, I'd say a good 95%++++++ of them have not been listed. I did notice that some did get listed before but the bank did not like the price. Hence, they threw it back into the shadow inventory and pulled it off the market. I assume they will wait till a later day to try to resell.

I am actually considering calling up the lender and asking to purchase the properties. But I do notice that they have potential to pull in a gain rather than a loss on many properties.

Vain

I also noticed some of then were sold in past 3-4 weeks and some are not in the market yet... Just an FYI.

Yeah this information may not be 100% correct. I assume it takes some time to update to the county records. But I am just shocked at the area of interest for me. I'm trying to purchase a home in Daly City, CA. It looks like the prices are past the bubble prices again already. Many people fear getting priced out again and the bank is obviously holding back on alot of inventory. I've seen REO's refuse sales because they didn't like the offers they received; which was asking price. They dumped it back in their pool of shadow inventory, and will probably pull it out 1 year later and hope everyone forgot, and assume it's a new property on the market.

Are these banks even paying property taxes on these properties?

They pay property taxes and upkeep. The carrying cost is the big one, but if banks have access to 0% interest money, perhaps carrying them isn't really costing them anything in the end.

I'm betting the REO's who put out list prices and didn't accept list price bids did so because they expected to create a frenzy and it never happened.

If I was you, I would wait on Daly City. I'm not a huge fan of that area to start with, and if prices are going prebubble, you're probably looking at a mini collapse at some point. They are probably priced right where people can get mortgages right now, which makes them hot commodities. I'm not a fan of buying when it's not really a buyers market. Worse case, you aren't going to lose anything by waiting. Prices aren't going to go nuts. Best case, you save yourself 10%, maybe a bit more.

I agree pkennedy. But it's so hard working with buyer agent after buyer agent that makes 2 offers for you and not get accepted. They try to crank up the pressure and make me engage in a bidding war. Ultimately, I ignore all their calls. I'd be happy getting many of the properties for list price. But it doesn't seem like anybody is accepting list price. I've seen some properties that are engaged in bidding wars, and the highest I've seen was 150k over asking.

I am not going to lose out by waiting. My down payment is just getting larger and larger. It's coming to the point where I might be able to purchase outright in cash since I am living in a property that has been paid off already. No rent to pay for me. I'm only trying for offers that are realistic. I am however looking for a tax shield.

You'll get the best deal by waiting, and ignoring the agents pleas to start a bidding war.

I'm not really sure what the best tactic might be, but you might want to try and under bid on other properties that are priced a little too high. Those properties might have little or no interest, and your offers might be accepted more readily. A property with a lot of interest, even if it's priced well below market will have too much competition and too many greedy partners involved.

I'm hoping to learn the best tactic by the time I go looking!

The local newspaper had a story this morning about the banks starting to release more shadow inventory. What gets me is that the reporters never portray any of this as the blatant manipulation of the market which it is. They act as if it is perfectly okay to make buyers pay more by restricting supply just like Enron did.
They also never ask the banks why they are doing this now when the whole purpose of the 8000
dollar tax credit was to help them sell this stuff. Why restrict supply for months when the tax credit was available and flood the market now when the tax credit goes away in a few days?

I like how "starting to release" turns into "flood"

SF ace says

It is a sound business decision, the same reason why a company like Micron and Sandisk will throw away memory chips than sell it if supply and demand is out of whack. What’s the good of flooding the market with inventory if the banks that are relied on to finance the transaction deny them, thus restricting true demand. After all, in addition to loan holder they are lenders as well so they know exactly what their market look like. When bank lending normalizes (which I think will be a function of continuing to streghten their own balance sheet, house price stop to fall so their risk model is more normal and an improviing job market), true demand rises, you’ll see the inventory come out and absorbed more quickly.

What the banks are doing is VERY different from Sandisk destroying their own inventory.

I completely agree with you if the banks were private institutions making market decisions. The banks would then decide if it was more profitable to sit on houses and pay property taxes, upkeep, depositors, etc or to sell now and take a loss. But because the banks are effectively arms of the govt (able to borrow at 0%, allowed to hide things on their books indefinitely, etc) then it goes from market-based business decision to market manipulation with government support. THAT is why we're upset about this.