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    11012012 – Santa Clarita Divorce – FHA guidelines relaxing – Bulk sales equate to investor flips

    It does not come easily when there are changes a foot with regard to living arrangements.  Talking about Divorce – one of the Big 3 D’s in Life, right along side with Disease and Death.  We have been getting more calls than usual lately from those here in the Santa Clarita valley cities that are in the process of divorce and have to liquidate their mutually owned real estate.

    Most, whom we have spoken with recently, have “friends” in the real estate business.  We have deduced that these “friends” are, in some cases, both mutual and exclusive.  Either way, one of the spouses does not want to use them to sell their home, ordered by the court or because of mutual agreement.

    We have ways in dealing with this Big D – Divorce.  We always communicate with both parties if that is what was determined to be the best course of action.  We also have systems in place within our real estate team so no party is ever spoken with without the other party being present, included in an email – included via a conference call – or present during an in office meeting(either virtually or in person).

    That way, even if both spouses trust each other, there can never be questions raised having to do with some type of “under table” agreement or special arrangement to “get back” at the other spouse.

    Watching the real estate wheel turn it came back to changes in the FHA rules and guidelines.  Most of the other banks did not want to finance a property that FHA declined.  Today, the guidelines to FHA have become a bit more loose.  If you were one of those that were beaten out of the market due to FHA not allowing for lending on a condo or town-home you liked, have your real estate revisit that again with your lender.  It may be that the complex can now be financed using a FHA loan. 

    Marked updates were just completed with regard to the Santa Clarita Valley cities.  We are seeing prices rise across the board due to a supply and demand issue.  I received a call yesterday from a man that asked how we were going to be able to see a relaxation in sales prices.  I told him we just need more inventory.  I opine that “extra inventory” will be coming in the way of the bulk sales hitting the market as investor flips in the coming weeks.

    Stay tuned, remember all are welcome to subscribe to our Bi Monthly updates.  We publish the Santa Clarita news by Video on the 1st and the 15th of every month – whether you need it or not.

    This is the most recent home for sale in the city of Saugus CA.  If you want to see more homes in Saugus CA – just head over to our MacBoX resource at our main Santa Clarita real estate website and type into the it the word “Saugus” without the quotes.  You will be able to view all real estate currently for sale in Saugus.  Be safe and only use trusted real estate advisers that are local in nature.

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    2 Responses to “11012012 – Santa Clarita Divorce – FHA guidelines relaxing – Bulk sales equate to investor flips”

    • Tim Blankenship

      Written on

      Connor, many of my divorcing clients homes are upside down. This makes it impossible to refinance if one of the spouses wants to retain the property. They would most likely only be able to dispose of the property by shortsale or foreclosure. Are your clients opting for short sale or are they just letting their homes go?

      Reply
      • paris911

        Written on

        It seems that anger and spite is keeping about 30% from short selling. For the other 70% of those that are going through a divorce – they are having Paris and I short sell their homes. There is a great chance this week, November 13, when congress convenes for it’s lame duck session, they will re approve and extend the debt forgiveness act. However, even if they don’t there is still one fall back that makes a short sale much more comfortable than a foreclosure. That is the “timing factor”. Having control over when the hammer is going to fall provides it’s own comfort. Be Safe and thanks for your Question Tim…

        Reply

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