Didn’t get a bailout? Sorry.

It’s a sad day when we see the foreclosed home of friends on display here as FDotD. Sigh. Well, this cute bungalow was once a much loved project, but is now waiting for new owners to love it again. You, perhaps? We like the curves and angles, and the hardwood floors of this 1100 sq ft 2/1 located not far from Mercy Medical Center. Representing the bank/seller is foreclosure listing agent David Parr of Keller Williams. He yells:

“BANK OWNED PROPERTY. ALL OFFERS MUST BE ACCOMPANIED BY A PREQUAL LETTER FROM BANK OF AMERICA, NO EXCEPTIONS. CALL FOR DETAILS AND LETTER. BUYER MAY BE ABLE TO GET A FREE CREDIT REPORT OR APPRAISAL IF THEY CHOOSE TO FINANCE THROUGH BANK OF AMERICA. THIS PROPERTY IS BEING SOLD STRICTLY AS-IS. THIS PROPERTY FEATURES 2 BEDROOMS AND 1 BATH AND IS CUTE AS A BUTTON. HARDWOOD FLOORS, ARCHED CEILINGS.”

Do you find buttons cute? What is the source of that well worn agent-speak cliche? It’s a mystery to us. Well, we can get you inside to make your own comparisons to buttons, or zippers, or velcro, whatever fastener seems appropriate.

Call (530) 244 7603

We rely on your calls and referrals. We are working this weekend, like every weekend. So call!

View Larger Map

Today’s FDotD looked familiar. We showed it a couple of times in 2009. Back then it was listed as 28269 Alpine Way, and this same Shingletown foreclosure home seems to have sold for $109K. Here’s how it looked back then:

Remarkably similar. Anyway it must not have lasted long before being foreclosed again. It’s listed again apparently by foreclosure listing broker Diane Abair of Bears Den Realty. She writes

“3 bedroom, 2 bath in a private secluded area. Above the heat line and below the snow line. New gravel road on the east side. Fabulous view, nicely wooded.”

But on tax records and in the listing it says it’s a 2/1.5 on 11.8 acres. We’ve been in the house shown in the photo, but really don’t remember much except that it dropped over 3 levels or so as the lot sloped, and it was unusual on all levels. Back then it was listed as being on only 1 acre. Hmm. It’s confusing. Anyway, if you like the area, there’s another REO on 28377 Alpine Way that just came up too. This one listed by foreclosure listing broker Sonny Mallory of Zion Realty.

He writes of it:

“AS-IS, REO. Seller requires all offers to have a min. of 1% deposit, there will be a $99.00 document preparation fee paid to seller from buyer through escrow at close. All offers need a pre-qual or verified POF by seller’s lending affiliate to ensure ability to close.”

You had us at “AS-IS.” That’s some descriptive sales prose. This one is a 1977 built 2200 sq ft 3/2.5 on 5.3 acres up in the pines. It’s listed at $186,000.
Call us up and we can get you in for a look at either or both.

(530) 244 7603

We rely on your calls. We learn the inventory by showing it, which is what we’ve done for several years now. There’s always something new to learn, so call!

View Larger Map

Here’s a nice looking home in a terrific northwest Redding neighborhood. We took this shot above while driving out to the FDotD on Americana a few days ago. We are provided with a large number of images of this foreclosed Redding CA home at the MLS listing here. Hmm, can’t understand why they left the Harvest Gold Washer and Dryer behind. Oh well. Representing the interests of the bank/seller on this sale is foreclosure listing agent Kurt Largent of Keller Williams. He writes of it:

“Nice home in River Ridge. Home features 3 bedrooms, 2 baths and an office. New carpet & front door. Garage has a 3rd door on the back side. Come and make this your own with personal touches.”

We haven’t personally touched it, mind you. But you can touch it all you want. Give us a call.

Call (530) 244 7603

We rely on your calls and referrals and personal touching. Please do call.

View Larger Map

Our 600th post! Actually, this is our 601st post. We had no idea we’d be doing this when we started out almost 2 years ago. Just look at all the foreclosures. Scrolling back through the posts here is like a daily diary of pain and recovery. Surely, history will look back on this REO era and shake it’s dreadlocked head. FDotD at the 600 mark passes a milestone of misery, tempered by opportunity, and shows no sign of slowing down.

On that note we bring your today’s offering in the Waverlys. A small, somewhat cloistered neighborhood in south Redding consisting of older homes that could be characterized as a mix of nice ranch style residences of varying demeanor. Waverly is a loop of similar named streets around a utopian central park. This particular offering looked familiar, as it was a Short Sale for an arduous 326 days, gulp, before ultimately turning REO. The property consists of two irregular parcels totaling about 1.75 acres. The home is shown as being built in 1950 and is a 1260 sq ft 3/1. Representing the seller’s interests in this sale is foreclosure listing agent Evan Bennett of Evan Bennett Real Estate. He’s done a good job of providing us with images of this Redding CA foreclosure home here. And he writes of it:

“Original 3 bedroom home being used as 2 bd and den. 2 legal parcels, vacant 1 ac plus 3/4 ac with improvements. Newer roof, newer windows, newer copper plumbing, nice hardwood floors. Level land with many shade trees, fruit trees and horses are OK.”

Horse ARE ok, by gosh, and thanks for the reminder. Care to take a look inside this home?

Call (530) 244 7603

We rely on your calls and referrals. Imagine at minimum 600 hours spent bringing you the best of the available REO inventory every day for nearly 2 years. We know a LOT about our subject and we can use that knowledge to your advantage. So call!

View Larger Map

According to tax records, today’s FDotD sold for a generous $430K back in 2006. Prior to that it seems to have sold as a new home for $287K in 2004. So: the value of this home nearly doubled in 2 years? Now, the value has descended to less than it cost new 6 years ago? Hmm. As a side note, we’ve lately had some issues with some local appraisers, and their ‘born again’ recent low opinions of value. Where the heck were all you ‘conservative’ appraisers in 2006??
Well, there’s plenty of blame to go around, as concerns the decade’s real estate bubble. Although the value curve of this home far exceeds the local value average, it was hardly alone. Not much to do but pick up the shattered pieces apparently, of which this is a fragment. It’s listed as a 1966 sq ft 3/2. There are several more photos of this newer Hidden Hills home here. Representing the interests of the bank/seller is foreclosure listing agent Jason Davis of Re/Max. He writes:

“Come see this conveniently located Hidden Hills home. Split floor plan, Master Suite, Open Kitchen, Great Room, Den, Transom Windows and Oversized Garage. Owner is completing some renovations, including interior paint.”

We are further informed of various restrictions to the sale like: Offers will not be considered until 7 calendar days after listing. Listing days 8-12, offers will only be considered from owner-occupants, Neighborhood Stabilization Program buyers, municipalities, non-profit organizations. After the lucky 13th day, all offers will be considered. All financed offers will have to allow Wells Fargo employees examine your loan application. Confused? We can help.

Call (530) 244 7603

We rely on your calls and referrals. Please call!


View Larger Map

Here’s a 2800 sq ft west Redding home with a pool for less than $100 per sq ft. Below replacement costs, probably. This 2 story 4/3 was built in 1968, and sits at the end of the Quartz Court cul-de-sac. The pie shaped lot is quite large in back, and there is a a portable spa under the patio.
Updated 9/1: The listing agent for the bank/seller informs us that while the carpet and paint work will be done, the buyer will not be able to choose the colors. Longtime readers know we enjoy writing about agent-speak euphemisms, and that the “Still time to choose your colors” term is often meant to indirectly signal the need for interior work. In this case, no actual buyer choice was offered, and we apologize for any implication that the choice was offered. At FDotD, we strive for factual representation of bank and government owned real estate, and are always ready to correct errors or make clarifications.
“There’s still time to pick your paint and carpet colors,” as we say in agent-land, which is to say it needs both. Still, worth a look for the money. There was only 1 marketing image supplied in the local MLS listing, so we took these 3 shots for you. We can show you more if you like. Representing the interests of the bank/seller is foreclosure listing agent Joanne Atkisson of Redding Realty. She writes of it:

“REO PROPERTY, Large home at the end of the cul-d-sac, inground pool, covered patio. nice family room with fireplace, formal dining. Bank is getting bids for paint, carpet and sheetrock repairs.”

Call us up and we can get you in for a look.

Call (530) 244 7603

We rely completely on your calls and referrals to friends and relatives looking for the best bargains on bank owned and foreclosed homes in our area. Even with the foreclosure crisis in high gear, most home sales around here are not distress sales, despite what you may read in the local newspaper. Given that, we should point out that can also show you ANY home for sale around here, bank owned or not. So call!

View Larger Map

It appears that this lovely home was built in 2008, and then abandoned. It’s a very modern stucco 1681 sq ft 3/2 with granite slab, tile floor kitchen and newly landscaped front and back. Inside laundry, and energy efficient construction. The lot overlooks a greenbelt in a terrific northwest Redding neighborhood, and there is a patio under the roofline. There are new homes being built nearby. We were left wanting upon seeing the 2 supplied marketing images, so we took these photos  for you today, and have more if you like. Representing the interests of the bank/seller on this sale is Joanne Atkisson of Redding Realty. She yells:

“REO PROPERTY, NEW EARTH ADVANTAGE HOME. IT APPEARS IT HAS NEVER BEEN LIVED IN. GRANITE, STAINLESS STEEL, TILE FLOORS PLUS NEW LANDSCAPING LOCATED ON A NICE CUL-D-SAC LOT.”

Cul-de-sac is French term, meaning literally “bottom of bag.” Not to be confused with ‘cool de sack,’ which is is what you do with a bag containing a six-pack of fine beer. Now that you are aware of that key difference, perhaps we can share a sack on the cul-de-sac together. It’s the Americana Way! Give us a call. We can probably meet you there in about 10 minutes.

Call (530) 244 7603

We rely on your calls and referrals. We are very grateful for your continued support of FDotD. Thanks!!

View Larger Map

Today’s FDotD had quite a back yard. When the patio roof was intact, the space must have been like a virtual indoor/outdoor livingroom, complete with kitchen, pool, and fountain. We see some photos from its prior listing as a failed Short Sale, and you get the idea they were shooting for a kind of Sunset Magazine look, and almost got there. Rather unfortunately, the patio roof has vanished, along with the pool pump motor, somewhere in the foreclosure process. MAYBE THE LENDER SHOULD HAVE TRIED HARDER TO MAKE THE SHORT SALE WORK. You think? Who was that lender? Oh the lender was us, as in US Treasury seized Fannie Mae. Now, not satisfied at being burnt on a lapsed mortgage here once, we as taxpayers are willing to lend on this again, in the form of the euphemistically named HomePath Financing. Hey, its your money. What are the odds of losing tens of thousands of dollars twice on the same house? Representing the interests of the seller on this particular piece of government seized real estate is foreclosure listing agent Freddie Martin of Real Estate 1. She writes:

“Large 4 bedroom, 2.5 bath home on almost an acre with pool, RV parking and circular driveway near shopping, schools and recreation. Buyer to verify square footage. Selling ”AS IS”. Pest inspection and plat map in documents. Agents: see private remarks for how to submit offer.”

We posses the authorization to view those private remarks. We also have the near-magic technological power to get you actually inside this home to view it in person. Or, for that matter, any other bank-owned or government seized home around here. Or any other home listed for sale. Its true. Just call.

Call (530) 244 7603

We rely on your calls and referrals, along with your continued tolerance of our stilted and sometimes bitter prose. Please do call. Much like these featured homes, we seem different in person.

View Larger Map

Wow, this one is stunning. A classic Sunset Terrace beauty. We know you come here for the goods, so we took some photos of our own of this timeless Redding luxury home, We wondered if it wasn’t the most expensive bank owned home we’d seen, but it isn’t. FDotD 15151 Brunswick sold a year ago at list price $869K. Then we wondered if it wasn’t the largest bank-owned home we’d seen at 5782 sq ft. Nope. Bank-owned FDotD 25000 Hwy 44 was larger at 6454 sq ft and sold last March. The interests of the bank/seller on this home is being represented by foreclosure listing agent Lynda Martz of the Real estate Group. She writes:

“Extraordinary custom home on cul-de-sac with views of the mountains and river view from upper deck off master suite. Granite slab counters, custom cabinets, living room, family room, media room, rec room – the list goes on. Patio and inground pool ready for entertaining! Must see!!”

Must see indeed. Call us up and we can show you around. It’s lovely.

Call (530) 244 7603

We rely completely on your calls and referrals. Thanks for your support of our efforts here at FDotD.

View Larger Map