Good Day everyone – thanks for taking the time to check out our Santa Clarita, Valencia and Stevenson Ranch California foreclosure update.
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.
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.
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!
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.
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
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.
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.
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.
Good day everyone, this is Connor MacIvor, with the RE/MAX of Santa Clarita and RE/MAX of Valencia Paris911 Real Estate Team.
Serving the Santa Clarita Valley cities and the Surrounding Los Angeles areas with regard to real estate representation.
Paris is for a person – I was an LAPD cop for a long time and together we are Paris911!
Our concept was simple – make sure everyone that uses our team is protected in the best ways possible. Never throw a real estate client under the bus and always keep them informed during every step in the process.
Today is our Foreclosure and REO updates for the Santa Clarita Valley Cities and we are currently tracking over 300 distressed pieces of real estate in the Santa Clarita and Stevenson Ranch areas within Southern California.
A little bit of panic from a Seller!
Within real estate, we get questions from buyers and sellers of homes. Yesterday we had a couple of our sellers who wanted to know what a buyer can be expected to pay in closing costs.
I responded that it’s about 3% – most of the time a bit less. I then continued to say that the buyers closing costs include the buyer’s title fee, the buyer’s escrow fee and the buyer’s lender fee.
I was curious why they were asking, because we did send them a counter for an offer that was received on their home.
After we went over it with them, we had them sign and sent it off to the other agent representing the buyer.
They are having to sell for their break even amount. Meaning there is no “fat” to trim. The home and amount they have in equity is very thin.
In real numbers, the amount of the buyers closing costs on their home would be about $12,000.00.
However, I was still confused because, if my memory served me right, we countered for the buyer to pay their own closing costs.
I was miffed while on the phone, I was driving, and I said, “I’m in a quandary… Please read to me where you are seeing that you are paying the buyers closing costs.”
I told the sellers to look on the counter offer and read to me what it says…
The seller said, “Seller to pay buyers closing costs…”
I said, do it word for word…. The Seller read, “Seller not to pay buyers closing costs…”
Wow – A word like “NOT” – being missed can create a lot of stress.
I’m glad that was cleared up.
The Foreclosure and Distressed Numbers
During the Foreclosure Update we are watching that Valencia CA proper – has 96 total distressed real estate listings across 4 different type variations.
Total of 96 Distressed Listing in Valencia
42 of those are properties that have had notice of defaults filed on them (pre foreclosure)
25 of those listings are headed to the auction
20 of those real estate listings in Valencia are bank owned listings
And 9 of them have been sold to a third at a trustee’s sale
If we take a look all over the Santa Clarita Valley cities – we see the following numbers of “in process” distressed real estate listings:
We have a total of 289 real estate listings in some sort of “distressed state” in the Santa Clarita Valley Cities
In Santa Clarita I am currently tracking 116 pre foreclosure listings for our clients
We are also monitoring 75 properties in Santa Clarita that are headed to the auction
79 real estate listings in the Santa Clarita Valley are bank owned
19 have been sold to a third at a trustee’s sale.
Searching out of the box!
All of this data is important for those of you looking to purchase real estate in an “out of the box” fashion.
The location where I go on a daily basis is within our Foreclosure search engine that is located at the home page of Paris911.
Tomorrows Radio Show
Tomorrow we will be talking about our Truth in Lending Broadcast. We will have the information uploaded to the SantaClaritaLending.com website and we hope it serves you well.
As always we will have a tip or two to share about hiring lenders and getting the best deals on borrowing money.
I’m Connor MacIvor with REMAX of Santa Clarita and we are glad to be of service to you and yours.
Today is our Hump Day Foreclosure Updates and we will be speaking about those properties, you see glittering the maps below, that are all in the “distressed” real estate arena.
Santa Clarita Distressed Homes and Properties
We have been monitoring the Pre foreclosures in Santa Clarita Valley Cities. Included are Castaic, Canyon Country, Valencia, Saugus, and Newhall.
You can see that we have 115 pre foreclosures that have current Notice of Defaults(NOD) filed on them.
These Santa Clarita NOD properties may be available, if you are interested. It’s just going to take a little “additional” work by your Realtor. We always include properties such as these when our clients sign up to be our real estate clients. It just makes sense and if we are able to get one out of ten for our real estate clients.
For the Santa Clarita real estate auctions, we have 77 real estate listings that my Santa Clarita Foreclosure team has been monitoring. The data is available by email inquiry reference to the bid amounts, the location of the auction and the total financial record that preceded the auction scheduling event.
Here is the “bank owned” inventory in the SCV Cities that have not been “dealt with”. They are still bank owned (reo’s), and this is something the banks don’t want to have. They need to off load these listings – the 81 Bank Owned real estate listings in the SCV cities.
The approach with regard to a Santa Clarita bank owned home is not different for the client we have that routinely has my team search this property type, the Bank Owned focused buyer. I’m speaking also about searching for properties such as these for every buyer.
Those buyers that come to us with a specific focus on the bank owned niche – we approach that search in the same exact way. Both are included with every client we represent.
At the end of the day, we are not scared of hard work. Giving our clients “that much more” ends up in us being even more successful in the future of our real estate business.
17, of the Santa Clarita Distressed real estate inventory, have been sold to a third at a trustee sale.These are also the property types which we love to “also include” for all our real estate clients – Distressed Niched Buyers and those who are wanting to buy a move up or their first home.
Stevenson Ranch Distressed Homes
The Stevenson Ranch real estate and distressed market has the following intel available from our Foreclosure Search Engine.
There is currently a total of 29 homes that are within the “distressed” profile we monitor for our Real Estate Clients.
We see this number being less than we have seen the recent past – reducing at an approximate one percent rate during the past 8 months giving us the following Distressed Levels in SR.
Total of 29 Distressed Properties in Stevenson Ranch
16 real estate properties in Stevenson Ranch are Pre foreclosures
5 of the real estate listings in SR are headed to auction
7 of the Homes are bank owned and have not been cleared for sale
1 of the properties in Stevenson Ranch has been sold to a third at a recent trustee’s sale.
You can click on any of these current Foreclosure Maps for Santa Clarita and Stevenson Ranch to gain access to our Foreclosure Search engine.
A point of clarity. Our Foreclosure Radar Search engine has not been built to “generate leads” to be sold, spammed, or otherwise having your information violated.
It’s simply about giving our real estate clients the best and most reliable distressed real estate data possible.
Enjoy our systems and please let me know when you are ready for us to head up your home search for Santa Clarita Valley Cities and Stevenson Ranch CA.
Santa Clarita Radio Show – Real Estate
We have a daily format that you can hear that is relevant to the Santa Clarita Valley cities. It’s our daily real estate radio show.
Tune in at our main site or listen to our real estate radio show player in the margin of this blog.
Shout out to Carl Reese -Santa Clarita home inspector for a job well done this morning. It’s nice having a home inspector that embraces technology as does Carl and someone that does not “sugar coat” anything!
Looking at the current market and the activity within – we are currently tracking 324 distressed real estate listings.
We will get into those in a moment with real numbers of “off market” foreclosures, bank owned, pre foreclosure and REO real estate in the Santa Clarita Valley Cities.
Quick 7 Day recap for Santa Clarita Housing
Santa Clarita Valley has had 92 real estate listings enter the for sale market in the past 7 days. – These are actually homes that are currently on the market for sale. Depending on the ‘pricing point’ will depend on how long it takes for the homes to have offers made. The “offering activity” can be quite dramatic depending on how the agent prices the properties.
We are watching as we have had 61 homes, condos and town homes that have had their prices changed. The “better” question has to do with whether or not these “price changes” were increases or decreases. We will cover this on our Friday Finale Broadcast – You will find that show located at SantaClaritaHousingMarket.com.
BOM – Back on Market homes in the Santa Clarita Valley Cities are up at an astounding 28 homes, condos and town homes have fallen from the graces of escrow. It’s hard to quantify – but these sellers are without buyers at this point. There are several reason why this could have happened. Maybe the buyers ran into a seller that made them extremely uncomfortable – that’d do it in some cases. Maybe the buyer lost their job or the ability to finance.
Here is the rest of the recap – 69 real estate listings entered escrow. We have been tracking 5 real estate listings that expired, 47 homes entered this stage in the escrow process and we have been watching as 49 residential real estate listings sold and closed escrow in the Santa Clarita Valley during the past 7 days.
Welcome to our Wednesdays real estate REO hump day broadcast, I’m your host Connor MacIvor at REMAX of Valencia CA’s Paris911 Team of Realtors.
Real Estate questions by email:
“I’m seeing listings on your site that are not on the market, please explain.” – Carl…
As with anything, some real estate agents have a better ear to the tracks than some others. We have access to the Pre Foreclosure and Bank Owned lists in all of Southern California.
These include real estate listings that are not on the market for sale.
Bank Owned - these are homes that may be on the market as Foreclosures. Some of these properties are not. They are somewhere in the process. Either they are waiting for a final disposition, or they are going to be sold as “off market” reo’s. Access can be had by the regular Joe – ask us for more information on how to go about buying a Bank Owned listing before they hit the market for sale.
Auction - these are homes that are headed to the auction block, typically in Norwalk and Pomona. They are homes that may sell for pennies on the dollar – discounts can be had at the local real estate auctions. The thing you need to make sure of, before heading off to the auction with your cashiers check in hand, is that you understand “fully” what you are getting into. Please, always consult a professional before heading off to the auction.
Pre Foreclosure - these are homes and real estate that have had notice of defaults filed on them. Meaning, the banks have not received payment for a while – usually 90+ days! Reminder: (that number depends on the particular financial institution that made the loan), they record that fact with the court and the NOD – Notice of Default, is made public record.
In the real estate news
Buyers are becoming more active earlier this year that is usual.They are starting to search way before spring and that fact may create a more prevalent “multiple offer” situation in the coming months.
With the lacking inventory, we see that some of the real estate listings in Santa Clarita Valley are really popular. This being the case, these listings obtain multiple offers in short order.
While a multiple offer scenario is very advantageous to the real estate seller, it can create a headache and stress on a real estate buyer that has not experienced it before.
Make sure you are getting the best in advice if you are a real estate buyer encountering a multiple offer scenario on the home, condo or town home you want to buy.
There are specific ways that buyers need to be guided and only a real estate expert should be chosen.
As for sellers that are encountering multiple offers on the homes they are listing for sale. They too need to be prepped in case this scenario reveals itself. There are neophyte ways on handling the multiple offer dealing, and then there are “expert ways”.
The Santa Clarita Distressed Home Recap
Here is the break down as far as the distressed real estate numbers in the Santa Clarita Valley Cities.
My Paris911 Team is currently tracking 14 active REO and Bank Owned listings currently on the active real estate market.
As far as “current” Santa Clarita Valley distressed real estate inventory – we also have been monitoring 8 of the REO’s as being in pending status and 3 of those in the Back Up status. Keywords for the MaCboX at Paris911.com are backup and pending (type those words into it to get more information and to see those listings).
The Santa Clarita off market inventory
All Total in the Santa Clarita Valley Cities – mostly real estate that is not on the market for sale – but we maybe able to help you with the procuring of…
283 Total distressed real estate in the Santa Clarita Valley Cities
112 of those are pre foreclosures (notice of defaults) have been filed
74 of those homes are properties headed to the auction
81 of those homes are bank owned real estate
16 of those listings were sold to a third at a trustee’s sale
For the Totals in Stevenson Ranch in Zip Code 91381 we have been monitoring the following:
41 Total distressed real estate in Stevenson Ranch California
23 of those are Pre Foreclosures, having had notice of defaults filed on them
5 Stevenson Ranch homes are off to the auction
11 are currently bank owned in Stevenson Ranch
2 of the Stevenson Ranch homes have been sold to a Third
We have the numbers of the distressed real estate in Valencia CA 91354 and zip 91355:
87 total distressed properties in Valencia CA
42 of those are Pre Foreclosures – NOD’s filed on them
17 of those homes in Valencia are headed to the auction
19 of those Valencia residences are Bank Owned
9 of the Valencia properties have been sold to a third at a recent trustee’s sale
The “other” Santa Clarita Valley Cities are available by clicking on the Foreclosure Tab on the home page of Paris911.com – after you do, you will be able to search for the off market and REO listings that we spoke about above with our REO and Distressed SCV real estate recap.
Here are some quick totals from our Foreclosure Tab on our Paris911.com website:
Canyon Country has 82 total distressed homes, condos and town-homes.
Castaic has 82 Total distressed homes, condos and town-homes.
Newhall has 41 Total distressed homes, condos and town-homes.
Upcoming Truth in Lending Show tomorrow
Tomorrow is our Truth in real estate lending show for real estate.
We will “hit on” some aspect of the lending as it pertains to the real estate world and shed some light on an otherwise “not well lit” topic.
Please tune in by 12pm pst when we should have our Truth in Lending’s Radio Show uploaded.
On Today's real estate and Foreclosure Radio show, we started with our YouTube Broadcast of the Santa Clarita real estate news. http://tophousingnews.com
Giving you in real time the current real estate and housing market happenings for the past 24 hours.
While we are not even close to setting records for the local housing market, properties are still selling fast when priced at FMV, fair market value, or just below.
This is expecially the case when there are no other Santa Clarita properties in competition with yours.
Most real estate sellers don't have any idea as to where their equity happens to be in today's real estate market. http://scvequity.com
To the dismay of some of the potential Santa Clarita real estate sellers, they are asking a “non real estate professional's” opinion of what their home is worth in the current market.
What happens next is where the “dismay” comes into play. They have their phone and email blowing up as if they sent out a volley of hate mail on facebook that was gender/race or religion oriented.
It's horrible, and something that real estate sellers should be aware of before asking a computer Algorithym what a specific piece of real estate is worth.
Via email – we had a question pertaining to the “off market” Foreclosure and REO inventory.
To establish our terms – a Foreclosure is any piece of real property that has undergone the foreclosure process with the court. The foreclosure process usually involves a lender (bank), the one that originally loaned the money on the property and the owner, the person(s) that originally borrowed the money on the home.
REO – Real Estate Owned. Typically, this refers to a line item on a bank's accounting sheet.
They had a spot reserved for “REO” meaning the bank's properties that had foreclosed.
The emailer wanted to know how we could buy a property such as this.
There are two ways to approach this as a real estate buyer.
Now, fyi – the banks are more “kind” to the owner occupant buyers. That is unless the “investment buyer” is purchasing a block of REO's or a Portfolio of the same.
However, we are taking about a one time purchase, of a singular property, and taking about having the property as being owner occupied.
If the property is on the market for sale as a Foreclosure, HomePath, REO or other distressed property type. As a buyer, you are going to want all of your ducks in a row. You are going to want us to send in a complete package. The Offer, The proof of Funds, the pre approval letter, the deposit check and maybe a personal letter about your intension. http://paris911.com/foreclosures
It's going to take some groundwork by us and some money in the form of mailing letters, certified and not.
Our mission is to find the handler from the bank, representative of the “owner”, that has this property in their ledger.
Once we find that out, we may be able to work out a “different” option between the bank and our client.
My suggestion is for you to contact our team to attend our Crash Course on real estate where we cover the Distressed real estate inventory and the best way we are able to help. http://paris911.com/crashcourse
Thanks for checking out our Wednesdays Foreclosure and Humpday Broadcast realted to distressed real estate.