Is this a foreclosure property? (foreclosed, agent, price, claim)

[mgs333]

Zillow - 2153 Mendota Way, San Jose, CA 95122

How can a house in a $600k neighborhood sell for $230k?

What's wrong here? A clerical mistake? This isn't the only one I've seen in this area (Silicon Valley not just San Jose) so I'm not convinced it's a clerical mistake.

Are bank owned property really this cheap?

[ProLogic]

Wtf? In San Jo'? Must be in a bad neighborhood. Yet it does not look very bad judging from the satellite shot. But could possible be a foreclosure.

[MikeJaquish]

Divorce?
Family estate?
Quit Claim?
Dissolution of partnership?

I.e., it may have not been an "arm's length transaction."
Looks to me like one party bought out the other party's interest.

[Greatday]

Originally Posted by mgs333

Zillow - 2153 Mendota Way, San Jose, CA 95122

How can a house in a $600k neighborhood sell for $230k?

What's wrong here? A clerical mistake? This isn't the only one I've seen in this area (Silicon Valley not just San Jose) so I'm not convinced it's a clerical mistake.

Are bank owned property really this cheap?

There may have been multiple loans on the property. The foreclosure (price) would be for the loan being foreclosed.

[RoaminRed]

Last house I looked at that had a "WTF?" price on it was interesting. Looked great from the front, in a nice neighborhood, comps on the same street and in the general area were running $150k higher than the house -- but there weren't interior photos posted.

So I called the listing agent and asked for more photos which he then sent me. House was completely (and I mean COMPLETELY) gutted on the inside, down to the studs. The concrete slab had holes cut into it and there was no plumbing/electrical.