I know I made a projection of the amount of short sale listings last week or so, and said that by the end of the year, we should have about 300 short sale listings in the Santa Clarita Valley.
Well, if the last 8 days is any indication of times to come, then my estimation may be blown out of the water by about 200+! Yikes!
Over the last 8 days, the Santa Clarita Valley saw an increase in the Short Sale inventory by 22 new short sale listings. That is huge. Now there are about 177 short sale listings for sale in Santa Clarita as of today. With that said, if we keep having weeks like the last 7/8 days, then that makes a projection of Short Sale Inventory by December 07 closer to 500, and not 300.
But, something tells me last week was something of an anomoly, and we will see more average increases going forward on a weekly basis, with a few more exceptions I am sure. One thing is for sure though - there will be increases, and that is only further backed up by the unprecedneted level of mortgage lenders and brokers going out of business, having troubles finding credit lines, and cutting their work forces, which all stemmed from the issuing of subprime loans that so many people are defaulting on now, especially as their rates reset and tick up much higher to unaffordable levels.
Want to find a deal? Email me at Robert@TheScvAgent.com with what your looking for, and I can sift through the thousands if listings for you, and find you homes that match what you are looking for...and are at a discount to current market values.
Consider a short sale for a purchase! If you have 60-90 days to close an escrow - then SHORT SALES ARE FOR YOU! You can find tremendouns savings off market values sometimes, and you can work with one of the few savvy teams who understands how to identify these deals, and see them through. Visit http://www.teamshortsales.com/ for more info.
Remember...when buying or selling Santa Clarita real estate, call me 1st.
Robert Mickalson, Realtor
Vintage Sotheby's International Realty
661.219.2260 or 661.373.2374
Search the Santa Clarita MLS like a pro @ www.TheScvAgent.com
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