Foreclosures are Down, Does this mean the market has recovered?

Real Estate Agent with RE/MAX of Valencia (Hall of Fame) 30 year Valencia Resident BRE# 01215778

Dear Friends, Clients & Fellow Realtors,

The real estate market has changed!  I am a Realtor listing and selling homes in Valencia, Stevenson Ranch, Santa Clarita and the Santa Clarita Valley.  This community is one of the safest cities of it's size and offers great schools, parks and incredible annual events.  We are best known for Six Flags Magic Mountain and offer the TPC at Valencia Westridge Golf Course, Valencia Country Club Golf Course, the Paseo Club Tennis Club, Westfield Valencia Town Center Mall, Bridgeport Lake Community and much more.

The Santa Clarita Valley, California includes the areas of Valencia, Stevenson Ranch, Saugus, Castaic, Newhall, Canyon Country and the City of Santa Clarita. In 2011 there were 944 Sold Bank Owned Homes, Today there are 21 - Need more proof that the real estate market has begun to recover?

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Your Friend & Realtor,

Tony Lewis * RE/MAX of Valencia 661-702-4720

Comments (2)

Dale Terry
Yadkinville, NC

I don't believe we have seen the last of the foreclosure market.  Although sales of foreclosures have dropped as a percentage of total sales, we still have many homes on the edge due to lack of income by the homeowners.  Layoffs that will surely come next year will make the problem worse.

Nov 26, 2012 08:36 AM
Tony Lewis
RE/MAX of Valencia (Hall of Fame) 30 year Valencia Resident - Valencia, CA
Summit Real Estate Santa Clarita & Aliso Viejo

My expectations are hat the government will continue pushing most distressed sales  being sold off as short sales until the time the lenders are able to sell breaking even or making a profit.  The lenders will most likely proceed with selling their own homes at that time.

Nov 26, 2012 09:01 AM