Murrieta Bank-Owned REO Home on Robards - Heritage at the Oaks - Tovashal Elem, Thompson Middle, Murrieta Valley High

Murrieta Bank-Owned REO Home on Robards - Heritage at the Oaks - Tovashal Elem, Thompson Middle, Murrieta Valley High

Lovely home for sale on a quiet tree-lined street in the "Heritage at the Oaks" development, connected to the MVUSD schools of Tovashal Elementary, Thompson Middle School and Murrieta Valley High School (subject to availability of enrollment capacity; my experience is that the schools make efforts to get your child into the school to which your home's neighborhood typically attends).

Buying a Murrieta Bank-owned REO home is one of the more direct (least time-consuming) home sale transactions in the current market as of September 30, 2010.  The listing agent represents the bank that owns the home; at that bank, the REO department's job is to get that home off the books at a fair market value considering all factors: market prices, the condition and location of the home, local comparable sales of homes, etc.  In this case, the listing agent is the very experienced Kellee Spillman of Reliable Realty, who kindly agreed to let me blog about her Murrieta bank-owned REO home listing. 

This home on Robards has:

  • 2375 sq ft of living space,
  • 4 bedrooms, 2 bathrooms
  • Upgraded spanish-look tile,
  • Neutral paint in fair condition,
  • About five minutes from the Cal Oaks freeway onramp on the 15 fwy,
  • Close to schools, groceries, shopping, Starbucks, pizza and medical,
  • About a half mile from the dog park on Jackson at Nutmeg. 

Photos of this Murrieta bank-owned REO home for sale on Robards will follow below.

I believe bank-owned REO homes in Murrieta are preferable for buyers who want to get into a home relatively quickly these days, compared to starting the short sale process on a home.  In a short sale, the seller of the home is an individual that owes the lender (who helped him buy his home) more than the home is worth; that is, the seller's bank is going to have to agree to take "short" of the loan amount owed.  That seller's bank generally has procedures in place that require the seller to prove a hardship on top of showing the bank what current market value is; and that can take 4 to  6 months for the "short sale approval."

Compare that to a Murrieta bank-owned REO home sale where the seller is the bank that now owns the home ("the REO bank").  That REO bank's job is to sell the home at market value, without any additional analysis of whether some individual seller is going through a hardship.  The question is value; the listing agent brings a buyer's offer (or multiple buyers' offers) to the bank's representative with the sole goal of selling at what the REO bank can get for the home.  This results in the process taking 30 to 45 days instead of the 4 to 6 months of a short sale.

Following are some pictures of the Murrieta bank-owned REO home for sale on Robards - Heritage at the Oaks - connected to schools of Tovashal Elem, Thompson Middle, Murrieta Valley High:

Murrieta Bank-Owned REO Home on Robards - Heritage at the Oaks - Tovashal Elem, Thompson Middle, Murrieta Valley High

Murrieta Bank-Owned REO Home on Robards - Heritage at the Oaks - Tovashal Elem, Thompson Middle, Murrieta Valley High

Murrieta Bank-Owned REO Home on Robards - Heritage at the Oaks - Tovashal Elem, Thompson Middle, Murrieta Valley High

Murrieta Bank-Owned REO Home on Robards - Heritage at the Oaks - Tovashal Elem, Thompson Middle, Murrieta Valley High

If you'd like to contact Kellee, the listing agent, please let me know.  And please let her know that you found her Murrieta bank-owned REO home listing for sale on my blog?  Thank you.

Lisa Delzompo (951-704-4559)

"May your home always be too small ... to hold all your friends!"

Is your home getting too small?  Need a FREE Home Valuation?  Preparing to Sell a Home?  Click here to submit a form online, or Call Frank at 951-326-7330 for a free consultation.

CA Dept of Real Estate, Real Estate Broker License #01379811;

NMLS Identifer #331744

REAL ESTATE:  www.SandToSeaProperties.com.  Covering northern San Diego, Oceanside, Temecula, Murrieta, Riverside County and desert areas of Yucca Valley, Joshua Tree and Twentynine Palms, CA.

LOANS:  PRW Lending, Inc. Call direct 951-704-4559, or email me at lisa(@)sand2sea.us  

 

 

 

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Information is deemed reliable but is not guaranteed. Information is general and may not address your particular situation.  Do not rely solely on this or any information you find on the internet.  You should consult relevant professionals directly about your real estate, financial, etc., situation. 

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Comment balloon 1 commentLisa Delzompo 951-704-4559 • October 01 2010 12:24AM

Comments

It amazes me to see so many 2-story homes... we just don't have very many here in the desert!  Kathy

Posted by Kathy Schowe, La Quinta, California 760-333-8886 (California Lifestyle Realty) over 7 years ago

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