Can You Really Buy San Mateo Foreclosures for Less than $20,000?

By Raymond Stoklosa · September 24th, 2009

San Mateo foreclosure radio commercial

I just heard a radio commercial touting how you can buy thousands of beautiful 4 bedroom, 2 bath homes for $20,000 and $199 per month. WOW! What a deal! Where can you find these bargains? NOT in San Mateo County…that’s for sure.

Of course, the company sponsoring the commercial can send you all the information — for a fee. They know something no one else does and they would like to share it — for an upfront payment.

What’s the Least Expensive Home in San Mateo County Today?

Today, the least expensive San Mateo County home is about $149,000. It’s located in East Palo Alto and is an abomination. The least costly home that sold in San Mateo County recently is a 2 bedroom/1 bath cabin in Half Moon Bay that was listed for $185,000 and sold for $127,500. And, the next cheapest is a 2 bedroom, 1 bath home in East Palo Alto which sold for $150,000. These are a far cry from $20,000, and I don’t think anyone would call them “beautiful.”

Are There Outrageously Cheap Homes in San Mateo County?

There are no bargained priced – outrageously cheap homes – that are awaiting your offer. Don’t be mislead. If it’s too good to be true, it probably is. The dream merchants – aka con artists – make fortunes by selling fantasy to the uninformed and misguided. Save your money and don’t be fooled. Years ago, a wise man said it best: there are no free lunches.

What’s for Sale in San Mateo County?

Click on the map below to search for San Mateo County short sales and bank owned homes and condos.

For More San Mateo Foreclosure Myths Busted, Attend our Seminar at CSM

This Saturday, September 26, 2009 from 10am – 2pm we’ll be presenting a program in conjunction with the Department of Community Education at The College of San Mateo entitled, How to Buy Bank Owned Homes, Short Sales and Foreclosures in San Mateo County. To sign up for this program, please visit CSM’s Class Registration Page.

Considering Buying a Home in San Mateo County?

Check out our Buyer Representation Page to learn about a different kind of REALTOR®. To schedule a free, no obligation consultation, call us at (650) 655-2500 or email us at info[@]RayChelRealtyGroup.com.

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