Most of you know that the Santa Clarita real estate inventory of homes for sale is quite low right now, almost approaching 600's. This is apparently holding true for the Tesoro Del Valle master planned community, which is located at the northern edge of Valencia.
I was browsing homes for sale in the Santa Clarita MLS, for a specific client, and was amazed to see that there was ONLY 1 home in Tesoro Del Valle that's actively for sale, that is a regular sale or foreclosure. I didn't even restrict the search to price, size, bedrooms, etc...I just queried for regular sales and foreclosures, and NO shorts sales.
What's even more interesting is that there are 39 Tesoro Del Valle homes in escrow! Amazing! So there is a lot of interest in these homes, and quite a few homes for sale - it's just that they're under contract! Click here to view details on these 39 Tesoro Del Valle homes that are in escrow.
And if you want one more factoid that's possibly a bit more interesting than the last - it's that of those 39 homes for sale in Tesoro Del Valle that are currently under contract and in escrow...28 of them are short sales!
The kicker - regular sales, and bank owned sales in Tesoro Del Valle, and Santa Clarita as a whole for that matter, are hard to come by! It's obvious that people en mass are writing offers on short sales. That happens all the time. True. But many of these escrows (of the 28) really will not turn into a real sale. It will end up back on the market, due to the buyer getting tired of waiting for the bank to approve/finalize the deal...and or it will come back onto the market as a bank owned home perhaps if the short sale bid fails - as too many do. Just because the Realtor takes the home off of the market, and puts it into escrow, does NOT mean that they have the short sale approved and, for that matter, the price they marketed the home at approved.
If you're looking for a way to find out the regular sales in Tesoro Del Valle, and bank owned homes in Tesoro Del Valle....before other buyers are even made aware of them, please give us a call, so we can give you somewhat of a competitive edge! It's obvious from the 39 homes with offers/under contract JUST in Tesoro Del Valle, and the minuscule active inventory of homes for sale in Santa Clarita - that there is quite a bit of competition for these homes out here...and possibly for the home you may be vying for.
Here is the all new Santa Clarita monument sign right off Valencia Blvd and the 5 freeway (north bound side), welcoming visitors and saying hello to north bound passerby traffic.
The City of Santa Clarita is offering a Residential Rehabilitation Grant. You can get up to $5,000 in various types of needed repairs to your home, if you qualify for the program. After you check out the video below...follow this link for more about the Santa Clarita Residential Rehabilitation Grant.
Today, June 29, 2009 - there are only 7 activeCanyon Country Foreclosures (bank owned, REO's) for sale that are attached homes. That includes condos, townhomes, and duplex style homes.
The kicker - there are 31 Canyon Country Foreclosures IN ESCROW!
Contrast that with the 35 Canyon Country short sales currently available and for sale. Clearly buyers are not too interested in these, for good reason usually!
It's worth noting that there are 9 Canyon Country condos and townhomes that are REGULAR sales which are available for sale too. There are 15 Canyon Country condos and townhomes that are regular sales which are under contract and in escrow. So, buyers are definitely interested in these types of sales as well - as they should be!
Moral of the story....bank owned foreclosures, in this instance, Canyon Country Foreclosures, are hard to come by (good ones) because most of them are already in escrow. And when one does pop up for sale, that's worth while - multiple interest and offers area created and they are selling quickly.
To get the upper hand on Foreclosures in Santa Clarita, please contact The Robert & Brian Team!
Ever wonder, as a buyer in the Santa Clarita Foreclosure marketwhy some of your offers may be rejected, in favor of another buyers? Have you been running into competition from other buyers lately, when pursuing these Santa Clarita Foreclosures (aka - Santa Clarita Bank Owned, Santa Clarita REO's)?
Maybe this picture will help paint a better picture why:
As of today, June 20, 2009, when looking at Active Santa Clarita Real Estate listings stats....
There are a total of 796 active condo and home listings in Santa Clarita. Of those...
- 64 are lender/bank/investor owned foreclosures (what everybody else pretty much wants...182 are IN ESCROW NOW!!!)
- 333 are short sales (aka - preforeclosures, aka - what everyone is pretty much trying to avoid, for now, email me for an explanation as to WHY)
- 399 are supposedly regular sales (aka - homes with equity in them or a home where an owner can bring in cash to close the escrow without getting a banks/lenders approval)
So, with JUST 8% (64 out of 796 listings) of the active "for sale" inventory being pretty much what most buyers are looking for (great deals)....it's no wonder why some of your offers have been rejected, in favor of another buyers offer who probably either offered more money than you, had more down payment that you, or had a connection that you or your Realtor didn't have with the bank or listing agent (or a combination of these).
Don't get me wrong, people love the "Regular sale" still...it's just that they don't "tend" to offer a greater initial discount in asking price, than the bank/lender owned homes do, that are listed for sale. I suggest to my Santa Clarita homebuyers to also focus on regular sales, even if it's priced above the Santa Clarita bank owned homes....as sellers will often come down to reality, and negotiate their (what may be) inflated price. It's worth noting that I have been seeing quite a few regular sales, that are priced just as competitively as bank owned homes. Also, the"regular sale" will tend to be in better condition than the bank owned home, therefore, they should be worth a BIT more than the avg comparable bank owned home anyways (speaking in general terms here of course).
When it comes down to it though, what you need is a great Realtor working on your behalf. A Realtor with good relationships established with bank listing agents, and a Realtor who has already sold an extensive amount of bank owned foreclosures. I'm not talking about 10, or fewer....I'm talking 30, 40, 50, 100+. Experience in your agents corner, can save your corner some $$$.
Go to our Santa Clarita Foreclosures website, to surf all of the best Santa Clarita Foreclosures for sale. It's all broken down for you by the partciular area of Santa Clarita real estate that you prefer most, too. Enjoy!
PS - If you just want the best way to search all listings, Short Sales and all....just go to our Santa Clarita MLS search directly -
Homes that have closed escrow in Stevenson Ranch, Ca as of June 1, 2009 through today June 20, 2009:
There have been 14 homes so far this June 2009, that have closed escrow. Another 59 Stevenson Ranch homes and condos are currently in escrow, preparing to sell. 55% of the Stevenson Ranch housing inventory is in escrow. Talk about high demand! Santa Clarita Valley real estate is hot once again.
48% of the Valencia Westridge homes for sale inventory is under contract and in escrow. This can be attributed to: Attractive Valencia Westridge Foreclosure Home pricing, low interest rates, FHA insured loans with reasonable 3.5% down payment requirement, and amazing first-time homebuyer incentives, such as the $8,000 federal tax credit if you purchase a home by December 1, 2009.
Of the 25 homes for sale:
11 are Valencia Westridge Short Sales
0 are Valencia Westridge Bank Owned Homes / Valencia Westridge Foreclosures
14 are regular Valencia Westridge Home Sales
The average Valencia Westridge active listing price:
$1,245,583
The average Valencia Westridge home in escrow listing price:
$508,634
Valencia Westridge Condo or Single Family Home:
There are at least 20Valencia Westridge Single Family Homes For Sale
There are at least 5Valencia Westridge Condos For Sale
June 19, 2009: Valencia Real Estate: Homes For Sale Update
Currently, there are 171Valencia Homes and Condos for sale. As of April 30, 2009, there were 269 homes for sale in Valencia. Therefore the inventory of homes for sale in Valencia has dropped by 36% since April 2009.
This drop in Valencia homes for sale inventory can be attributed to: Attractive Valencia Foreclosure Home pricing, low interest rates, FHA insured loans with reasonable 3.5% down payment requirement, and amazing first-time homebuyer incentives, such as the $8,000 federal tax credit if you purchase a home by December 1, 2009.
Of the 171 homes for sale:
82 are Valencia Short Sales
5 are Valencia Bank Owned Homes / Valencia Foreclosures
84 are regular Valencia Home Sales
The average Valencia active listing price:
$567,677
The average Valencia home in escrow listing price:
$398,820
Valencia Condo or Single Family Home:
There are at least 99Valencia Single Family Homes For Sale
Currently, there are 64Stevenson Ranch Homes and Condos in escrow and under contract. In April 2009, 28 Stevenson Ranch homes closed escrow. So far in June 2009, 11 homes have closed escrow.
This many Stevenson Ranch homes in escrow can be attributed to: Attractive Stevenson Ranch Foreclosure Home pricing, low interest rates, FHA insured loans with reasonable 3.5% down payment requirement, and amazing first-time homebuyer incentives, such as the $8,000 federal tax credit if you purchase a home by December 1, 2009.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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