People continue to flock to the Santa Clarita Valley in record numbers, and for good reason. As one of the fastest-growing communities in both California and the nation, the Santa Clarita Valley is a destination of choice for people seeking both a family-oriented atmosphere and a business-friendly environment. Just 35 minutes north of the City of Los Angeles many say the Santa Clarita Valley is the brightest discovery in the Golden State. In fact, USA Today named Santa Clarita one of the nation's 100 best communities in 2007. The FBI rates it as the sixth safest city in the United States with at least 100,000 inhabitants. Spend some time in this thriving community and you'll discover why so many families and businesses call it home.
As your Santa Clarita Certified Pre Foreclosure Specialist team we are here to provide you with the most current short sale (pre foreclosure) bank owned (REO) property statistics in the Santa Clarita Valley, SCV including regular listings (these stats do not include condo sales). Whether you are thinking about buying a home, you need to short sale your home, or are just looking to be educated about the current Santa Clarita real estate market.
REGULAR LISTINGS:
ACTIVE: 328
BACK UP OFFERS: 60
PENDING OFFERS: 60
SOLD in the past 30 days: 63
The combined averages; list price vs. sale price for the regular listings for the past 30 days:
3.7 bedrooms
3.0 bathrooms
2183 sqft
List Price: $475,797
SOLD Price: $464,406
SHORT SALE LISTINGS: pre foreclosures
ACTIVE: 331
BACK UP OFFERS: 198
PENDING OFFERS: 121
SOLD in the past 30 days: 47
The combined averages; list price vs. sale price for the short sale listings for the past 30 days:
3.8 bedrooms
3.0 bathrooms
2346 sqft
List Price: $449,808
SOLD Price: $445,855
BANK OWNED LISTINGS: REO's
ACTIVE: 89
BACK UP OFFERS: 17
PENDING OFFERS: 57
SOLD in the past 30 days: 31
The combined averages; list price vs. sale price for the bank owned listings for the past 30 days:
3.6 bedrooms
3.0 bathrooms
2237 sqft
List Price: $397,325
SOLD Price: $395,183
You may have noticed we have reached historic low levels of inventory the past several months here in the Santa Clarita Valley, as of today there are 791 active listings, when in a normal market we have anywhere from 1500-2000. with these number it's our opinion the government/banking institutions created a seller's market. They are taking advantage of a basic supply vs. demand market by cutting off the supply, releasing very few bank owned listings and taking extensive time to approve short sales they have slowed the decline of property values. You can clearly see that President Obama's pressure on the banking industry to streamline loan modifications and short sales has taken effect with many banks. If you look at the statistics you will see home prices have gone down but some areas are on the rise. It will be interesting to see how the rest of this year will unfold. How much more will properties loose their values?Will interest rates stay as low as 4.27%? Will the market be flooded with bank owned properties? Will the banks be more cooperative with short sales, streamlining them?
This is a constantly changing housing market, education is Key. As potential buyers or sellers these numbers help you to understand what the price ranges are for bank owned and short sale properties for sale. There is a big misconception when it comes to bank owned properties (foreclosures) and short sales (pre foreclosures). Many are led to believe that there is a fire sale going on, that the banks are giving deep discounts. Banks at this point are in the business to minimize their loss severity, they want to see offers as close to fair market value as possible. In some instances there are listings that are generating multiple offers which results in a higher sale price. Here is where an experienced agent can guide you with these purchases.
My husband and I are Santa Clarita's Certified Pre Foreclosure Specialists, PSC with a Certified Distressed Property Experts designation, CDPE. By dealing with a Realtor who has earned the PSC and CDPE designations, buyer's and seller's ensure that they are working with an experienced Santa Clarita Short Sales Expert that is equipped to handle their specific needs. We want to be the number one real estate agent you call when looking to buy or sell in today's market.
There is a difference between a pre foreclosure and a foreclosure. The time period between the first missed payment and the final bank sale is called the pre foreclosure phase. Foreclosure is a legal process that is initiated whenever a homeowner defaults (stops making payments) on their mortgage(s). When the foreclosure is completed the home is either sold at auction or becomes real property of the lender and is now owned by the lender REO, Real Estate Owned. Many of you have heard these terms on the news lately or see these types of homes in your communities. Would like to know what these terms mean or understand how the short sale process works? My Pre Foreclosure Options.
If you or someone you know are in a difficult situation with your property consider us. Homeowners who are in the pre foreclosure process need to speak with an educated agent as quickly as possible. For many homeowners foreclosure is not the only option however most do not get the opportunity to explore solutions. We are Santa Clarita's short sale specialists and would like opportunity to sit down with you and give you a free, no obligation, consultation on this process. We want to be the number one short sale agent you call, we are here to help you avoid foreclosure.
If you would like to search specifically for bank owned or short sale listings in Santa Clarita, or any other areas of Southern California go to: Search the MLS like a Realtor.
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