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Visitor
peedi510
Posts: 4
Registered: ‎11-26-2012
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How long does a foreclosure take to go on the market????

Hello forum, I live next door to a foreclosure that is bank owned and been foreclosed for 322 days according to Redfin.The people that live in it have 6 dogs that bark constantly and I cant wait until they get evicted. I live in the bay area of California and was wondering what is taking so long.Please anyone have any input.Thanks in advance

Platinum Super Contributor
buyinghouse
Posts: 5,877
Registered: ‎04-23-2011
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Re: How long does a foreclosure take to go on the market????


peedi510 wrote:

Hello forum, I live next door to a foreclosure that is bank owned and been foreclosed for 322 days according to Redfin.The people that live in it have 6 dogs that bark constantly and I cant wait until they get evicted. I live in the bay area of California and was wondering what is taking so long.Please anyone have any input.Thanks in advance


   Well, some people in this forum don't believe banks are holding inventory or they don't control it.

   Regarding your question, nobody has any idea. Call animal control in your city.

  

   Good luck!

  

Silver Regular Contributor
Fishmarty
Posts: 681
Registered: ‎08-25-2012
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Re: How long does a foreclosure take to go on the market????

In 2010-2011, my neighbors short sold or foreclosed theirs left and right.

 

The house next to me spent 14 months to finally complete the short sell. And one at the far end of the corner spent two full years to complete the REO sale.

 

In that period houses were sitting there with for sale site up and nobody paid a visit.

 

I would have brought them all only I don't want my renters to come visit me in walking distance:smileysurprised:

 

Talking about slow job, I saw a single-story ranch house, brought in 2010, the new owner spent a whole year and half to expand ~ 600 sf onto the front and to the side, with his (I guess) contractor friends over weekends. Probably one beam at a month pace...

 

September this year I finally saw them moved in and settled.

Silver Super Contributor
ptiemann
Posts: 1,128
Registered: ‎08-07-2009
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Re: How long does a foreclosure take to go on the market????


peedi510 wrote:

Hello forum, I live next door to a foreclosure that is bank owned and been foreclosed for 322 days according to Redfin.The people that live in it have 6 dogs that bark constantly and I cant wait until they get evicted. I live in the bay area of California and was wondering what is taking so long.Please anyone have any input.Thanks in advance


 

The people with the dogs.. are they the former owners or renters? If they are renters, they may have a lease that the new owner chose to honor, possibly HAD to honor.

Visitor
peedi510
Posts: 4
Registered: ‎11-26-2012
0

Re: How long does a foreclosure take to go on the market????

I called animal control.I wish it was that simple. Its a very complicated and drawn out process in order for them to take any action.I really dont feel like going through the court system. Thats pretty much what I have to do.I have talked to my neighbor ,but they dont care.Our neighborhood even wrote a letter to him, but its still the same.He's an **bleep**!!

Visitor
peedi510
Posts: 4
Registered: ‎11-26-2012
0

Re: How long does a foreclosure take to go on the market????

The people with the dogs are friends of the owner who left and has moved on. According to public records the house is in forclosure.It has been auctioned off and bought by US Bank a year ago. I think a lease is out of the question, right?

Silver Trusted Contributor
SamShuehRealtor
Posts: 802
Registered: ‎10-27-2008
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Re: How long does a foreclosure take to go on the market????

If you can see an inspection sticker on the door and most REO units have one. Call that number.

They can tell you whether it should be vacant, rented (some banks rent out the home while they are trying to liquidate).

 

If bank owns the property then the former owners or their friends do not belong in the house. 

Platinum Super Contributor
buyinghouse
Posts: 5,877
Registered: ‎04-23-2011
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Re: How long does a foreclosure take to go on the market????

  Give us the address, we can dig into the property and find out who is who. You as a neighbor could be the one 20 houses far away if you know what I mean.:smileywink:

Gold Super Contributor
norcalnative
Posts: 3,268
Registered: ‎05-04-2009
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Re: How long does a foreclosure take to go on the market????

Foreclosures vs when they hit the market.

 

Can involve so many factors you really don't know unless you have all the specifics about the property to start with. How much is owed - to how many loan holders - are their any liens on the property? - where is it located - what is the market in that location doing? -What is its condition after being left empty? Are all the doors and appliances intact and usable - are the floors and fixtures functional?

 

A clean foreclosure in a good location which has a strong ie fast moving market might hit the market weeks after the foreclosure is complete or it could be YEARS before all the red tape is cleared and the property is cleaned up enough to enable the highest possible price ie recovery of losses by the bank. or Banks

Visitor
peedi510
Posts: 4
Registered: ‎11-26-2012
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Re: How long does a foreclosure take to go on the market????

thanks for all the feed back. It sounds like it may take a while. There are a lot of factors that I just dont know about.