Ever wonder, as a buyer in the Santa Clarita Foreclosure market why 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 -
Call us @ (661) 964-1760 for immediate Santa Clarita Real Estate assistance!