Valencia Short Sale & Bank Owned Properties For Sale May 28, 2009

By
Real Estate Agent with Keller Williams VIP Properties

Valencia Short Sales & Bank Owned Properties for sale

As your Valencia Short Sale Specialist team we are here to provide you with the most current short sale (pre foreclosure) and bank owned (REO) property statistics in Valencia. Whether you are thinking about buying a home or you need to short sale your home these numbers show you a snap shot of the Valencia real estate market. As of May 28, 2009 here are the current average list and sale prices for the Valencia area.  

ACTIVE BANK OWNED LISTINGS IN VALENCIA MAY 28, 2009:

There are 6 active bank owned (REO's) single family homes for sale in Valencia, 2 in back up 26 pending.

Average list price: $358,083

Average sale price: $417,612 from 4/8/2009 - 5/28/2009, 29 homes sold.

The bank owned homes sold $59,529 Above the current average list price.

ACTIVE SHORT SALE LISTINGS IN VALENCIA MAY 28, 2009:

There are 59 active short sale, pre foreclosure single family homes for sale Valencia, 54 in back up 42 pending.

Average list price: $457,564

Average sale price $472,294 from 4/8/2009 - 5/28/2009, 17 homes sold.

The short sale homes sold for $11,082 Above the current average list price.

Short sale homes in Valencia are listed for more and are selling for more then the bank owned homes during the 4/8/2009 - 5/28/2009 time period.  During this time period the numbers have changed. Previously Bank owned homes sold for more then short sale listings.

ACTIVE BANK OWNED LISTINGS IN VALENCIA APRIL 8, 2009:

There were 13 active bank owned (REO's) single family homes for sale in Valencia, 6 in back up 27 pending.

Average list price: $452,600

Average sale price: $424,940 from 2/3/2009 - 04/8/2009, 31 homes sold.

The bank owned homes sold $27,660 Below the current average list price.

ACTIVE SHORT SALE LISTINGS IN VALENCIA APRIL 8, 2009:

There were 86 active short sale, pre foreclosure single family homes for sale Valencia, 30 in back up 24 pending.

Average list price: $452,112

Average sale price $439,625 from 2/3/2009 - 04/8/2009, 16 homes sold.

The short sale homes sold for $12,487 Below the current average list price.

Short sale homes in Valencia are listed for less but are selling for more then the bank owned homes during the 2/3/2009 - 04/8/2009 time period. During this time period the numbers have changed. Previously Bank owned homes sold for more then short sale listings.

With the constantly changing market we are in my goal is to keep you up to date with the most current statistics in Valencia. As potential buyers or sellers these numbers help you to understand what the price ranges are for bank owned and short sale properties. 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. 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 type of homes in your communities. Would like to know what these terms mean or understand how the short sale process works? Go to short sale, pre foreclosure definitions.   

You as a buyer need an agent who truly understands this market and can help you get your desired home whether it is a bank owned or short sale listing. With so much information and misinformation you need an above average agent to guide you through these investment opportunities.

My husband and I are Valencia's Certified Distressed Property Experts, CDPE. By dealing with an agent who has earned the CDPE designation, buyers and sellers ensure that they are working with experienced short sale real estate professionals that are equipped to handle their specific needs.

This real estate market has caused unbearable stress and heartache. As Certified Distressed Property Experts we will give our clients the expertise necessary to save their credit, relieve the uncertainty, and most of all help their families. We feel that education is key in this market with so much misinformation and foreclosure scams out there, we sought out this education to ensure we could properly help families get on the path to recovery.

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.                                        

Do you know of anyone who is thinking about moving to Valencia? Let me show you this beautiful community among others here in the Southern California area. If you would like to search specifically Valencia , or any other areas of Southern California go to: Search the MLS like a Realtor

You can tract the Valencia Short Sales and Bank Owned statistics on a monthly basis. In my archives click on the SANTA CLARITA/VALENCIA SHORT SALE AND BANK OWNED PROPERTIES FOR SALE button.

*All information deemed reliable but not guaranteed, information directly from SOCAL MLS

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
California Los Angeles County Valencia
Groups:
Everything California
Southern California Real Estate Forum
Posts to Localism
Keller Williams Active Rain Bloggers
Local Expert
Tags:
reo
bank owned
valencia short sales
valencia short sale specialist
valencia distressed property expert

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
12,348

Jennifer Ricco

CDPE, PSC, e-PRO, Retired LAPD
Ask me a question
*
*
*
*
Spam prevention

Additional Information