Good day everyone, I’m Connor MacIvor with REMAX of Santa Clarita’s Paris911 Team of Local Realtors.
Today is our Wednesday Hump Day Foreclosure Broadcast. In case you were wondering we have a seven day a week format for our real estate radio shows.
Today – Wednesday, we get into the Foreclosure and Bank Owned intel reports that we generate from our Foreclosure Page at Paris911.com
When venturing around the world wide web looking for distressed properties and homes, you will come across a lot of bad intel related to them.
You will also find that the internet is not so “transparent” when it comes to verifying information.
So hence our Real Estate Radio Show.
Today, as is typical, we spoke about the current real estate inventory in the SCV cities. We see that during the past seven days we have hit a high mark for new real estate listings. If you want to view all of the new real estate listings that are still with us that have been added during the past seven days type in the word: new – into the macBoX where you find it. Resource: MacBoX at the Paris911 Home Page
Within the local SCV real estate market we are returning to “pre fall” foreclosure and bank owned levels.
We are getting to very close to 1% active foreclosures on the market for sale in Santa Clarita Valley cities.
Today we ran in at 13 real estate listings that are of the Foreclosure and REO variety. This does not include the approx 150 Short Sale listings which are in varying stages of foreclosure(in the active status).
Some of the Short Sales in Santa Clarita are currently in a NOD state. Meaning, they have had Notice of Defaults filed on them. Some are Short sales, being sold as such, but don’t have a NOD filed on them yet.
Heading into the Foreclosure market, you want to make sure you have all your bases covered.
So hence our Wednesdays real estate and Hump Day broadcast referencing Foreclosures and the Distressed real estate inventory.
Good day everyone, my name is Connor MacIvor, Local Realtor in the Santa Clarita Valley Cities, serving the greater Los Angeles Areas.
Today we are having our Foreclosure and Real Estate owned Broadcast. This is where you get the full Distressed property recap for the SCV Cities and others that we frequent with our client representation business.
For homes, condos and town homes of course. Some of the questions we have received this week have to do with “how is the Santa Clarita Real Estate market Doing?”
We covered that topic on our Mondays Real Estate Broadcast. Resource: Santa Clarita Market Mondays radio show
We also had a caller that was interested in finding out how the Real Estate syndication websites operate and why they are viewing listings that are not for sale any longer when entering addresses on their systems.
Resource – Find out more about why MLSbest is a better way to search for homes
The Weekly SCV Update you have been waiting for
During the past 7 days we have real estate inventory that has been added to the market, with very few foreclosures.
I have been tracking 102 active real estate listings that have entered the Santa Clarita real estate market in the past 7 days.
Resource: View the New Santa Clarita Listings
I have seen 50 real estate listings in the SCV Cities that have had their prices changed.
Resource: Santa Clarita Price Changes
During this past week 30 real estate listings fell out of escrow and are for sale again.
Resource: View the Back on Market listings
During this past 7 days in the SCV Cities I have been monitoring those real estate listings that entered escrow or had their status changed to pending. Both Back up and Pending Statuses in the SCV cities.
Resource: View the Back Up listings in the SCV Cities
Resource: View the Pending Santa Clarita Listings
89 real estate listings in the SCV Cities sold – closing escrow with new owners!
Resource: View the sold real estate listings
Santa Clarita Foreclosure and Bank Owned activity
Resource: View the Foreclosure Data right now!
All information is accessible at the link I have placed above. This corresponds to the write up I have placed below this text.
During the past 7 days and throughout the month of April 2015, we have seen the foreclosures continue to level off and reduce.
In a healthy real estate market we have about a 1% foreclosure Rate. So they do Exist in a Normal and Healthy real estate market?
Yes – they do. There are still those that have fallen victim to job loss, death, divorce and disease. It’s sad but true.
Very different than the last cycle, most people that lost their homes just over bought and lenders over lent and Realtors over sold.
Santa Clarita Foreclosure Recap
Here are the latest real estate numbers as they relate to the Foreclosures, Bank Owned and Short sales that are now present in the Santa Clarita Valley Cities.
I have been tracking 29 total foreclosures and real estate owned homes that are on the market right now
Of those I have 17 that are fully active as of the time of our Foreclosure Recap blog post
In the Short Sale Realm – I have been monitoring 154 of those that are somewhere in the process
Of all of the short sales, I have 45 that are active and available
Pocket Foreclosures and “off market” distressed inventory
In the Santa Clarita Valley Cities – the break down is as follows:
- 282 total “off market” distressed real estate listings
- Some are Bank Owned – 84
- Some of these listings are Pre Foreclosures with a Notice of Default filed on them at 105
- Some are headed to the auction in Pomona or Norwalk – 78
- Sold to a Third real estate listings came back at 15
In the City of Stevenson Ranch CA – the break down is as follows:
- 27 total “off market” distressed real estate listings
- 15 of those are pre Foreclosures in Stevenson Ranch
- 4 of those Stevenson Ranch listings are headed to the auction
- 8 of those listings in Stevenson Ranch are bank owned
Acton California – just for funzies – Here is that break down:
Stage Address City Sq Ft Beds Baths Est. Value Est. Equity % Sale Time Sale Date Est. Bid Position Date Recorded
VAC/BTWN ESCONDIDO CANYON ARDC/MTON $75,053 100% 11:00 AM 10/10/2008 $0 1r 9/15/2008
1645 MARY RD ACTON 3,493 4 3 $667,181 44% 10:30 AM 6/15/2007 $680,171 1r 10/31/2006
VAC/COR SUNRISE VIEW/OLD SIERARCTON $299,482 -346% 10:30 AM 4/28/2008 $100,000 1r 4/9/2008
7535 VALLEY SAGE RD ACTON 2,094 3 2 $432,139 80% 10:00 AM 1/2/2008 $146,321 2r 10/11/2007
VAC/FORESTON DR DRT /VIC RIMSAI CTON $13,071 -1,890% 10:00 AM 1/31/2008 $76,718 2r 1/14/2008
VAC/VIC ANGELES HWY/CARSON AMECSTON $32,816 100% 10:00 AM 8/19/2010 $0 1r 7/28/2010
VAC/SIERRA HWY/VIC HYPOTENUACECRTDON $169,391 100% 10:00 AM 3/22/2011 $0 1r 8/18/2010
VAC/ARKSEY/VIC SUNRISE VW ACTON 384 1 1 $204,548 -13% 10:30 AM 2/25/2011 $260,447 2r 12/21/2010
33105 SANTIAGO RD SPC 54 ACTON 1,680 3 2 $245,673 -136% 10:30 AM 3/18/2011 $69,900 1r 1/18/2011
VAC/DESERT RD/VIC CLANFIELD ACTON $27,172 -28% 10:00 AM 3/28/2011 $101,107 2r 2/28/2011
Report as of: 15 Apr 2015 08:53:26
Stage Address City Sq Ft Beds Baths Est. Value Est. Equity % Sale Time Sale Date Est. Bid Position Date Recorded
VAC/DESERT RD/VIC CLANFIELD ACTON $27,172 100% 10:00 AM 3/28/2011 $101,107 1r 2/28/2011
VAC/FOREST VIEW RD/VIC AVENUAECFWTYON $50,433 100% 10:00 AM 9/8/2011 $0 1r 8/16/2011
VAC/VIC LAMOASAS RD/SHANNONADCALTON $102,463 91% 9:00 AM 2/24/2012 $200,000 2r 1/31/2012
VAC/VIC SIERRA HWY/CROWN VALALCE RTDON 336 $222,099 100% 9:00 AM 3/12/2012 $180,283 1r 2/14/2012
33110 MARGARITA HILLS DR ACTON 1,700 3 2 $169,342 100% 9:00 AM 3/20/2013 $353,014 1r 6/19/2012
VAC/COR ESCONDIDO CANYON RAD/RCETON $91,413 100% 9:00 AM 2/4/2013 $700,000 1r 1/8/2013
VAC/HYPOTENUSE RD/VIC SIERRAAHCWTYON $126,796 100% 9:00 AM 2/22/2013 $211,263 1r 1/29/2013
34599 DESERT RD ACTON 3,254 4 3 $558,606 100% 9:00 AM 6/5/2014 $529,000 1r 5/13/2014
32233 INDIANA AVE ACTON 1,996 4 2 $480,680 100% 9:00 AM 7/10/2014 $240,000 1r 6/6/2014
VAC/ANTIUM ROAD DRT /VIC RINOANCTON $21,947 100% 9:00 AM 10/14/2014 $23,560 1r 9/11/2014
VAC/WOODS RD/VIC CROWN VALLAEYCRTDON $214,923 100% 9:00 AM 10/14/2014 $71,000 1r 9/15/2014
3145 WESTCOATT ST ACTON 1,176 2 1 $269,362 -40% 2/26/2015 $383,697 1 10/29/2014
33115 MARGARITA HILLS DR ACTON 1,792 3 2 $552,694 100% 11:00 AM 11/24/2014 $382,500 1r 10/31/2014
30815 ALISO CANYON RD ACTON 2,520 3 3 $629,809 -8% 2/28/2015 $650,720 1 10/31/2014
34353 BRINVILLE RD ACTON 2,260 4 3 $519,026 -139% 11:00 AM 4/24/2015 $679,292 1 11/3/2014
2308 MALIA CT ACTON 2,625 4 3 $573,420 100% 11:00 AM 3/5/2015 $492,175 1r 11/14/2014
1350 CARDIAC RANCH RD ACTON 1,832 3 2 $217,266 100% 11:00 AM 1/23/2015 $282,660 1r 11/25/2014
1840 EL DORADO DR ACTON 3,536 3 3 $649,149 100% 4/2/2015 $1,899 1 12/3/2014
2510 PALOMINO DR ACTON 2,891 4 3 $638,508 58% 4/1/2015 $31,389 2 12/2/2014
5819 HUBBARD RD ACTON 1,803 3 2 $401,207 -5% 5/7/2015 $459,364 1 1/7/2015
VAC/COR NORCROSS RD/CRISCOAM CRDTON 1,550 $48,490 100% 9:00 AM 3/2/2015 $111,125 1r 1/22/2015
33406 DESERT RD ACTON 2,913 5 3 $535,866 -7% 5/27/2015 $773,130 1 1/27/2015
6221 SHANNON VALLEY RD ACTON 2,498 3 3 $496,300 11% 5/13/2015 $637,012 1 1/13/2015
4005 GILLESPIE AVE ACTON 2,056 4 2 $398,007 -2% 5/28/2015 $476,270 1 1/28/2015
34442 ASPEN ST ACTON 2,823 5 3 $604,975 16% 6/17/2015 $90,234 2 2/17/2015
VAC/QUIRK RD/VIC SEARCHLIGHTARCTON $60,103 -18% 6/19/2015 $34,387 2 2/19/2015
34750 GARLOCK RD ACTON 1,794 3 2 $401,045 16% 9:00 AM 5/14/2015 $442,387 1 3/27/2015
2903 GOLDEN SPUR RD ACTON 2,175 4 3 $506,371 4% 7/31/2015 $444,036 1 4/2/2015
Report as of: 15 Apr 2015 08:53:26
Stage Address City Sq Ft Beds Baths Est. Value Est. Equity % Sale Time Sale Date Est. Bid Position Date Recorded
34862 VIA FAMERO DR ACTON 4,125 5 5 $445,203 -54% 12:00 PM 5/14/2015 $139,670 1 4/6/2015
32815 MERRITT RD ACTON 2,628 3 3 $442,155 11% 11:00 AM 5/21/2015 $700,687 1 4/9/2015
Good Day everyone I’m Connor MacIvor with REMAX of Santa Clarita – We are proud to present our Daily Santa Clarita Real Estate radio show!
Before we get into the delio with, “pocket listing foreclosures and bank owned homes..” Let’s cover the five real estate buyer and seller tenants.
The 5 Buyer Tenants in Real Estate
Get your Own Realtor
Be weary to whom you give your personal information
Always request a Good Faith Estimate from your Lender
Get the Contract explained to you in detail before you sign
Obtain all “promises” in writing…
The 5 Seller Tenants in Real Estate
Ensure the MLS system is used in pricing your home
Double Check the Agent you hired by name on Google
Make sure your Realtor get’s a Net Sheet for your listing and every offer
Get verification of all conversations in Writing
Read Everything completely and ask Questions
Being true to these 5 tenants for Buyers and Sellers of real estate will keep you safe from harm in the long run.
Foreclosure Updates for Santa Clarita
I received a call this AM by a lady that is a real estate agent, or at least she identified herself as one with Realty Executives.
She said her son as surfing online and found a Pre Foreclosure on Soledad Canyon Road.
She further commented that she had her title officer pull title and she was unable to locate the property.
I told her to text me her email and I would send it to her.
Now, let me tell you this, I am not in the habit of helping other agents. My Santa Clarita Foreclosures are in place for us and our clientele.
I spend a lot of money each month gathering all the Foreclosure, Bank Owned and Real estate owned real estate listings.
Furthermore, I also spend gobs of money obtaining the all the applicable information for Short sales, Pre foreclosures and auctions.
I obtained her email and sent he the information on the property she inquired about. She was thankful.
Latest Santa Clarita Pre Foreclosure Data
27912 AVALON DR SANTA CLARITA 1,750 3 3 $379,475 8% 6/12/2015 $430,363 1 2/12/2015
24050 AVOCADO LN SANTA CLARITA 1,420 3 3 $397,356 19% 6/12/2015 $419,141 1r 2/12/2015
14627 HYDRANGEA WAY SANTA CLARITA 1,226 3 2 $397,205 22% 6/12/2015 $330,397 1 2/12/2015
27433 DIANE MARIE CIR SANTA CLARITA 2,162 3 3 $463,692 45% 6/13/2015 $261,349 1 2/13/2015
28517 CURTIS ALAN PL SANTA CLARITA 2,702 4 3 $603,197 16% 6/19/2015 $559,095 1 2/19/2015
26967 CAPE COD DR SANTA CLARITA 2,147 4 3 $551,581 -10% 6/23/2015 $420,762 1 2/23/2015
24632 VARESE CT SANTA CLARITA 1,678 3 2 $616,049 16% 6/23/2015 $409,844 1 2/23/2015
28380 PARAGON DR SANTA CLARITA 3,766 4 3 $748,631 18% 6/24/2015 $637,986 1 2/24/2015
18111 ERIK CT UNIT 447 SANTA CLARITA 1,008 3 2 $251,057 4% 6/23/2015 $251,397 1 2/23/2015
27558 SECO CANYON RD SANTA CLARITA 1,363 3 2 $424,975 22% 6/26/2015 $347,859 1 2/26/2015
29208 GARNET CANYON DR SANTA CLARITA 3,015 5 4 $665,371 1% 6/26/2015 $633,789 1 2/26/2015
28726 MACKLIN AVE SANTA CLARITA 2,108 3 3 $442,155 -27% 6/27/2015 $429,491 1 2/27/2015
18183 SUNDOWNER WAY UNIT 850SANTA CLARITA 964 2 2 $210,011 21% 7/8/2015 $171,981 1 3/10/2015
27713 THALIA LN SANTA CLARITA 2,063 3 3 $438,369 4% 7/11/2015 $335,196 1 3/13/2015
28457 VIA JOYCE DR SANTA CLARITA 1,857 4 3 $531,631 33% 7/9/2015 $157,807 2 3/11/2015
15906 ADA ST SANTA CLARITA 2,103 4 3 $439,078 11% 7/10/2015 $6,253 3 3/12/2015
21169 CIMARRON WAY SANTA CLARITA 2,732 4 3 $588,016 -17% 7/10/2015 $25,119 2 3/12/2015
27444 ANNETTE JO CIR SANTA CLARITA 1,803 4 2 $462,920 5% 7/15/2015 $470,969 1 3/17/2015
26877 CLAUDETTE ST UNIT 104 SANTA CLARITA 1,001 3 2 $244,922 -27% 7/14/2015 $5,185 2 3/16/2015
19163 AVENUE OF THE OAKS C SANTA CLARITA 864 2 2 $219,539 15% 7/14/2015 $195,480 1 3/16/2015
19820 SANDPIPER PL UNIT 38 SANTA CLARITA 970 3 2 $330,866 12% 7/23/2015 $296,972 1 3/25/2015
How do I buy one of these?
We have systems in place to assist our real estate buyers by searching these types of listings.
Just reach out to us and you can also subscribe via our Foreclosure Page in our Main Santa Clarita Foreclosure Website.
Thanks for taking the time to view our real estate radio show for Wednesday – Foreclosures galore.
I’m Connor MacIvor with REMAX of Santa Clarita’s Paris911 Team. Be safe and tune into our real estate radio show tomorrow.
Pocket listings and Foreclosures
Beware what is happening online with some of the “lead generation” systems you may come into contact with.
There are several areas you will want to cover. First, when it comes to online searches, make sure a real human being behind it.
Not some type of lead generation system that is going to sell your personal and private information agents paying for it.
Second, find out the source of the real estate and foreclosure listing. Is it a valid for sale home or is it being used as a hook?
Is there a method in place to secure it for you, or at least approach the “seller” in a way that will be a win win?
Watch out for the bad data when it comes to searching for foreclosures. As always, we will be there for you when you are ready for our help!
I’m Connor MacIvor!
We are going to cover the bases as they relate to the Foreclosure Inventory then get into the bank’s pricing strategy.
By you understanding how the bank’s price their Foreclosures, you will be better equipped to buy them.
First – We have covered several key Santa Clarita real estate radio shows already this week.
Monday – We had our market mondays broadcast. We uploaded some of the Data Reports for all of the SCV Cities concerning the local Housing Market. Resource – View the Santa Valley Housing Market Reports
Tuesday – We had our Travel Tuesdays Broadcast. This is the time during the week where we travel to some, or many resources online that will make your search for homes, property valuations, or foreclosure searches easier. These are systems we build unless they are not “connected to a specific housing realtor”. Example is the VA website where you are able to search for the VA approved complexes in the United States!
This Tuesday we spoke about two new real estate sites that I put together that do specific things:
– SCVowners.com This is a site that has it’s purpose for the owners of Santa Clarita and Southern California real estate. It allows someone to keep tabs of their home’s specific value. It allows for you to track your own property values:
What we did was to take a system that is tied to the local Multiple Listing Service in the SCV cities, and expand it online. You will now be able to get weekly emails as to the happenings in your specific neighborhood.
You will know if your neighbor’s home was listed in the middle of the night. What homes are distressed. How much your neighbor’s home really sold for and more intel.
We also built SCVreports.com This is the way that we monitor the Santa Clarita real estate market. This is the data where we derive our Market Update real estate radio show intel.
One of the things that we wanted to speak about on our Foreclosure Report Update Wednesdays is how the Banks continue with the pricing strategy.
Listen to our Daily Santa Clarita real estate radio show at the start of this Foreclosure Blog Post by Connor MacIvor, me, of the Paris911 Team at REMAX of Valencia.
As of this AM the recap is as follows for the “on market” Distressed real estate inventory.
I’m tracking 13 active bank owned foreclosure listings in the Santa Clarita Valley
10 more Foreclosure listings are in the Pending status (we monitor those too)
4 listings are in the backup position in escrow
I’m tracking a total of 169 short sales – properties that are attempting to be sold for less than the amount owed
42 are currently active as Short Sales for sale in the SCV Cities
127 of those 169 listings are currently in some form of escrow
We spoke about the “off market real estate inventory” that maybe coming to the resale real estate market in the coming, days, weeks or months.
If you use our Foreclosure Radar Resource – you will see this inventory as well.
We attempted to upload our Foreclosure Wednesdays Radio show, but until this point in the evening, we are still not seeing it rendering.
Good Day everyone, I’m Connor MacIvor, your host for the Santa Clarita real estate radio show.
We have a seven day a week format for Santa Clarita and Greater Los Angeles Areas Real Estate intel.
During this week, up to this point, we have completed our Market Mondays real estate broadcast.
That show was a doozie with intel dropped on the current state of the Santa Clarita Valley home and realty markets.
Yesterday – Tuesday – We broke into our Travel Tuesdays broadcast, speaking about the levels of Santa Clarita housing for sale. We also covered something that I have been working on reference to granting access, in an unlocked format, to the Multiple Listing Service.
Today – is our Foreclosure and REO Hump Day Broadcast.
Where is the Santa Clarita as it pertains to the “distressed” real estate inventory?
We have our fair share of Distressed real estate, even today.
Most of the inventory that is currently distressed in nature, does not have a “for sale” sign posted in the front yard reading “Foreclosure” or “Bank Owned” home.
It’s the off radar inventory. We are monitoring hundreds of these types of Foreclosure and Bank Owned assets.
We even have our sights focused on the Pre Foreclosures that have had recent Notice of Defaults filed on them.
Here are some of the latest numbers as they relate to the Foreclosures and Distressed Santa Clarita real estate inventory.
On Market Foreclosures and Inventory
Currently I am tracking 15 active Foreclosures on the Santa Clarita real estate Market.
These span the Days on Market timeframes from 5 Days on the market for sale to 436!
Yes, I typed that correctly – one of the Bank Owned homes has 436 days on market all total – There must be something wrong with that one! – I’d say “price”, then maybe “functional obsolescence” second.
Twenty Six total Foreclosures are either for sale, in pending or in back up status in the SCV Cities.
Access Point: Get to our Main Foreclosure Page for Santa Clarita Distressed Recon
Off Market Foreclosures – Bank Owned – Notice of Defaults – Auctions and Sold To Third
I’m Currently tracking 299 – See Below!
Santa Clarita Short Sales and Pre Foreclosures
In the Santa Clarita Valley – We have short sales and pre foreclosures.
These “titles” are used interchangeably at times with the “professionals” involved in the real estate communities.
However, they can be completely different. Some of the Pre Foreclosures are not being sold as short sales.
Some of the Short Sales are not pre foreclosures – they are just being sold short.
Allow me to clarify – When a person cannot, or is unable to, continue making their mortgage payment, and if they are unable to get a “workout solution” from their bank, they may contemplate asking for our help in having their bank(s) approve them and to allow them to sell their home for less than what they owe to the bank.
Of course, this requires expertise, finesse and the Bank’s Approval!
Some of these “short sale sellers” remain current on their payments until the very end. It’s Rare – but it happens. Most have not made a payment in quite a while.
Some of those real estate owners that have allowed their payments to the bank on their mortgage to lapse, don’t want to do a short sale. They would rather their home go into Foreclosure.
There maybe some circumstances where Foreclosure may be a better option for a particular type of property owner, but that question needs to be answered by a Professional!
Resource Short Sales: Use our Santa Clarita Short Sale Calculator
Currently I am tracking 168 total short sale properties. These include those homes that are Active on the Market for sale, those in BackUp position in escrow and those that are in the pending status of escrow.
Four of these short sale listings have ZERO days on market – they have just been listed for sale. Sometimes, the short sale process can take months. However, it really depends on how “aggressive” their listing agent is and how seasoned they are with the handling of the “specific” bank.
If you are approaching a short sale for purchase, ask your agent to ask the listing agent several questions:
- Have you submitted a “complete package” to the lender?
- How many lenders are there on the home?
- Does your short sale seller keep you updated with current paperwork?
- Do you have an assigned short sale negotiator yet?
If there are multiple loans – then each of these questions may be asked in reference to both. When there are multiple loans the approvals have to be given by each within the short sale process.
Here are the latest numbers for the Santa Clarita Foreclosures, Bank Owned, Pre foreclosures, short sales and NOD listings.
Enjoy and let me know when you are ready for us to represent you with a short sale or with the purchase of a Foreclosure or Bank Owned property.
By the way – access is granted for the below properties by heading to our Main Santa Clarita real estate website and clicking on the Foreclosure Tab!
Of course, if we all did everything “like a boss”, we’d get everything that we ever wanted.
Sadly, that is unobtainable, however, when it comes to Foreclosures, Bank Owned and Short Sale properties – I maybe able to help you wrap your mind around the “like a boss” thing.
First – the Update for Santa Clarita Valley Cities:
My Santa Clarita foreclosure team is currently tracking 286 REO, Foreclosures, Pre Foreclosures, properties headed to auction and properties that were sold at a Trustee’s Sale.
The exact breakdown for the SCV Cities – including Acton, Agua Dulce, Castaic, Canyon Country, Saugus, and Valencia is:
- 286 Total distressed real estate properties in the SCV
- 115 are pre foreclosures – notice of defaults have been filed on them
- 76 of those real estate listings are headed to the auction block
- 80 of those homes are bank owned currently – fate has not been decided on by the bank
- 15 of those properties had been sold to a third at a trustee’s sale
Stevenson Ranch Foreclosure Update
The City of Stevenson Ranch is not apparent in the report for the Santa Clarita Valley Cities. Even though it is inside, for purposes of the bank owned feed and the pre foreclosures – when running Santa Clarita – it’s not present.
Here are those numbers as they relate to the City of Stevenson Ranch in the Santa Clarita Valley:
- In Stevenson Ranch CA I am currently tracking 24 real estate listings of the distressed kind
- 14 of those are of the pre foreclosure variety – meaning they have had NOD’s – Notice of Defaults – filed on them
- 2 of those real estate listings are headed to the auction block
- 7 of those homes are currently bank owned – no immediate fate
- 1 of those homes sold to a third – good chance that will re-enter the for sale market in SR
Active Foreclosures in the Santa Clarita Cities
We have included Stevenson Ranch with the rest of the SCV Cities in this update for the active real estate inventory that is currently distressed in some way, shape or form.
Currently we are tracking the following “active” foreclosures and bank owned inventory in the SCV:
- Total of 25 distressed real estate listings are currently on the market for sale
- I am tracking 13 Active Foreclosures in SCV
- 10 of the 25 are in the Pending Status of Escrow
- 1 of the real estate listings that is a Foreclosures is in the Back Up Status
Resource: View these Foreclosure Listings Now!
Buying Foreclosures and Distressed properties like a Boss!
First thing you are going to need is a crash course on Buying and investing in distressed properties.
Also, if you are are a large investment group, we are not a good fit for you. We want individual investors. We want those who we can prove to that we are the “bees knees” and that will refer us to their local sphere of influence.
We get calls all of the time from the “pivot points” for large investment outfits, wanting us to give them the inside track to any of our personal listings that fit their criteria, call me crazy – but I’m not interested.
I would rather work with the couple or single person that wants to get their hands on a “good deal” when it comes to distressed and REO inventory.
BTW – before I get any deeper into the subject of “buying Foreclosures like a Boss”, may I say this; When it comes to all of our real estate buyers, distressed inventory is always a part of our method.
“Method” – the way we hunt for our real estate clients all of the “available” real estate listings for sale, distressed or not.
For the Foreclosure and Distressed investor – we only search the Distressed properties – whether on the market or not.
Bank Owned – These homes are not all on the market for sale. That is when your Realtor is able to hit them with you as a buyer. Running a title search takes time, but the owner and mailing address can be found. It maybe Wells Fargo, the question is whether or not your Realtor has a previous connection with Wells Fargo they can call to pave the way for them to accept an offer from you?
Non Bank Owned – Hedge Fund, investment group and other owners: This type of ownership can be approached with less “bloat” that we run into with the “big 5 banks”. They want to get a “deal” that makes sense and that will allow them to appease those in their investment group. Getting them to open the letter is the hardest part.
Pre Foreclosures – Some are actually on the market as short sales. Short sales are those homes where the owners are wanting to sell them at less than what they owe to the bank. The approach is simple, just write the offer that is accepted and submitted to the bank for review. Keep tabs on the real estate market and if prices go up, and Fair market Value exceeds the amount you wrote the offer for, expect an increase by the bank.
I’m Connor with REMAX of Valencia and REMAX of Santa Clarita – Glad to be of service!
Good Day everyone, I’m Connor MacIvor with REMAX of Santa Clarita‘s Paris911 Team of Realtors.
Who we are – just in case you don’t know
Paris911 – Paris is for a person, not that person and not a place – but one of the team leaders of our RE/MAX Realty Team.
The “911”, that would be me after serving and protecting the people in Los Angeles for so many years, earning myself a Honorary Retirement – Proud to have served – 17 years full time – quit – then signed up to be a reserve for an additional 5 years…
Foreclosure and Hump Day REO Update
Today is our Foreclosure update and REO real estate radio show. We are going to get into the numbers as they relate to the distressed homes, condos and townhomes.
Some of what we are going to cover is not on the market for sale as of yet. Some are. Some of the homes are bank owned with no “end date” or “final disposition” on the chart. Others have final dispositions and will be heading to the “resale” or “auction” market in the next few days.
We covered the “off market” distressed inventory and those 167 homes, condos and townhomes that are currently for sale or currently wanting back up offers, of the short sale variety.
Santa Clarita Cities
As you can see we have 289 properties that are in some type of distress throughout the Santa Clarita Cities.
These include Castaic, Canyon Country, Newhall, Saugus, Valencia, Acton and Agua Dulce.
117 of these homes are of the pre foreclosure type in Santa Clarita Valley. That means that there has been a “real and actual” notice of default filing on these homes. The bank is telling the court they have not received the “agreed upon” payment from the person they lent the “mortgage money” to in the first place or the one who’s paper they bought at a later date.
Some of those homes will be saved. Some won’t. Some of those pre foreclosures will be approached by me and I will let the homeowner how I am able to help them by Short Selling their home.
Some of our real estate buyers will benefit from my efforts too.
74 of these homes are headed to the auction block. Auctions are held in one of two places – Either Norwalk or Pomona. They are cash deals. You will need to take a cashiers check with you and that is your Max Bid Amount.
Going to the auction is not something you should take lightly. You have to be teamed up with a professional and to make sure they have completed their due diligence on the home you are about to bid on. What is there are due property taxes on the home – they are your responsibility after you buy it at the auction. What if there are people living on the home you just bought at auction – they may have to be evicted. What if you ran into the “pacific heights” scenario with those living in the home after you bought it at the auction?
There are so many things to think about when buying real estate at the auction – a lot of preparatory work and a lot of due diligence by all involved in the process.
81 of these Santa Clarita homes are bank owned. When we are working with our real estate buyers, we monitor this channel for each of them individually. If there is something that can be purchased from the bank, we make that an option and let our clients know. That is why this is so very important to include for those who are looking to purchase real estate. Just by today’s numbers – 198 homes are up for grabs that are not on the “typical residential re-sale market” which is the local Multiple Listing Service.
First Steps in Foreclosure and Distressed Procurement
We will need to meet. My office, at a pre scheduled time. When we do I will walk you through our buyer representation process and give you the insight that I have gleaned from representing buyers and sellers since 1998.
You and I will develop your very own real estate game plan at that time.
Thanks for taking the time to read up on our Wednesday REO and Hump Day Foreclosure Broadcast.
We look forward to doing business with you soon.
Good Day everyone – I’m your host of the daily real estate radio show for the Entire Santa Clarita Valley Cities. In fact, you will see that we have a 7 day a week format and talk about the local markets on every day, with little exception.
Before we get into the “shadow inventory” rumors that I will dispel, I’d like to get into the radio shows we have concluded to this point during this week.
Are Foreclosures really better deals?
Santa Clarita housing Market updates:
Santa Clarita Foreclosure Update
Our Wednesday Foreclosure Update for the Santa Clarita Valley Cities includes the cities of Acton, Agua Dulce, Castaic, Canyon Country, Newhall, Saugus, Stevenson Ranch and Valencia.
In the City of Santa Clarita – including the Cities of Acton, Agua Dulce, Valencia, Saugus, Newhall, Castaic and Canyon Country – I am currently monitoring 291 distressed real estate listings, whereas a majority of those are not on the market for sale.
These properties consist of the following distressed profiles:
- 118 properties are in the Pre Foreclosure status in the Santa Clarita Valley Cities.
- 76 of these homes, condos and townhomes in the SCV are headed to the auction block.
- 79 are Bank Owned listings (reo’s), real estate owned, in the Santa Clarita Valley
- 18 of the Santa Clarita homes have been sold to a third at a trustee’s sale – where they will be coming back onto the market, being offered for sale, in most cases.
Stevenson Ranch Foreclosure Update
The City of Stevenson Ranch, while is is located within the Santa Clarita Valley, the distressed real estate numbers are tabulated separately when I run the Numbers in our Foreclosure Search Engine.
Here is how Stevenson Ranch is stacking up compared with the other cities in the Santa Clarita Valley:
- I have been monitoring 27 distressed Stevenson Ranch real estate listings.
- Of these I am keeping tabs on 16 which are pre foreclosures in Stevenson Ranch.
- 3 of the homes I have been keeping an eye on in Stevenson Ranch are headed to the auction.
- 7 of the Stevenson Ranch real estate listings are owned by banks.
- As far as those that have been sold to a third at a trustee’s sale, I have three I have been monitoring.
Shadow Inventory Rumors
It’s easy to write something that knee jerks people into talking about it. Such is the case with Shadow Inventory.
This is the term that is used to talk about some “secret” distressed real estate that is going to hit the market causing advantages to real estate buyers of the world.
These “advantages” are usually in the “price” as they pertain to real estate listings and the home prices.
While you can see we have some “shadow” inventory in the Santa Clarita Valley. There is no means enough units that will cause this current market harm.
Prices will be steadily increasing in value with stagnant points throughout the rest of this year and into next.
The next time you hear “shadow” inventory and then someone wants you to give up who you are – be careful!
As you can see – there are homes and properties that are in some semblance of distress. Contact my Team when you are ready for us to take the helm and assist you with your real estate needs.