With just a few weeks left until the 2014 LA County Tax Sale – set to take place on October 20, 21 in Pomona – we thought we’d take a look at the properties that will go up for auction and help you find one that’s perfect for you.
Our Los Angeles Foreclosure listings show an impressive total of 2,725 properties that are about to be auctioned off by the Los Angeles County Treasurer and Tax Collector. With a median starting bid of $7,424, 60% of the properties consist of vacant lots, but there are also a great deal of single-family homes and condos scheduled for auction — some of them located in the ritziest parts of LA County.
If you’re not sure whether or not to attend the auction, here’s how you can properly assess your chances of landing a great deal at this year’s LA County Auction Tax Sale:
Step 1: Find a home or property that fits your needs
Use our 2014 LA County Tax Map to find properties of interest
If you’re interested in properties located in a certain area, we put together this interactive map with all 2,725 properties to ease your search:
To make it easier for you to identify the exact types of properties you’re interested in, we’ve grouped them by categories: vacant lots, single-family homes and condos, with the rest consisting of a mix of commercial properties — simply let the map legend guide your search. Once you’ve found a property in an area of interest, click on the parcel and a mini property report will open, giving you basic property information, along with the auction minimum bid and the first year of delinquency.
The map also serves as a heat map, highlighting areas with a larger number of properties up for auction, so you’ll instantly know which areas come with several investment opportunities.
Go to our dedicated section to see all 2,725 properties
To see the full list of properties scheduled for auction — along with the minimum bid and other crucial information on the distressed properties — check out our dedicated section. But please note that only PropertyShark Elite members have access to our Foreclosure data, so you will have to set up an Elite subscription for full access.
Listing example: This 1,629-square-foot condo in Agoura Hills is one of the properties scheduled for auction at the upcoming LA County Tax Sale. The Tax Lien listing shows a minimum bid of $5,958:
Step 2: Find out all there is to know about that property
From the Tax Lien listings, click on the address of any property that interests you to open its full report – where you will find property characteristics (square footage, property class, year built, number of rooms, zoning information), sales history, property taxes, and much more.
We’ve opened the property report for the listing example provided above, and a quick glance at the overview section shows that the current owner paid $550,000 for the 3-bed, 3-baths condo back in 2007:
Keep in mind that this is just the overview section of the property report – you can access it in full for comprehensive property data.
Step 3: See how much the property is worth
Use our Comparables tool to quickly estimate how much each property is worth based on recent sales of similar properties.
Basically, you’ll get an estimated market value for the property based on prices paid for recently sold homes that are similar in size, characteristics, and location with your target property, enabling you to quickly assess how good of a deal you might get on that property.
Disclaimer: the information provided in this post is not, and should not be regarded as investment advice. Buying properties at auction has certain risks attached to it, and no due diligence was made to eliminate any of them.