That would have been the time frame building to March of 2007 when the massive subprime lender fell. After that happened, it was a lot like watching dominos fall.
After the last foreclosure cycle, the real estate market would not be the same for quite a while, but today (June 6, 2016), we are experiencing a healthy real estate sellers market once again.
While showing real estate listings I see abandoned homes from time to time. Some have “notices of foreclosure” on the windows and no trespassing signage posted.
First things first, I have to find out what is going on with the specific property by a simple title inquiry.
I have access and provide the intel for our Santa Clarita real estate clients.
The Title Profile Report is going to show if there is anything “not normal” with the property in question.
It maybe that the home is headed for auction. Maybe the abandoned Santa Clarita Valley home has Foreclosed and has now reverted back to bank ownership. Another possible scenario is that the abandoned home has had a Notice of Default filing on it by the owner via the court system.
When I pull the title report – I am able to see what is happening with any of the court recorded documents and get a handle on what the distressed state of the abandoned home actually is.
Then it comes to what should be done with the information on the abandoned home I discovered.
It depends on the clients wants and desires. Sometimes a professional letter to the owner, the bank – private party – investment group – hedge fund – etc., is appropriate.
It could be that a phone call followed up by a faxed letter(yes – they still have uses), is what needs to take place to open the line of communication between my real estate client and the distressed property owner.
My experience has shown that sometimes these approaches do work, if the agent doesn’t come off like some arrogant and egotistical salesperson.
We have our Paris911-SCVnest ways to assist our real estate buyers and sellers with real estate which are not traditional methods.
Ours is an investment of time and knowledge we give to each of our housing clients who are trusting us to represent them in real estate.
If you want to meet or schedule a phone call – I’m here when you are ready.
If you have been driving around or live in a particular neighborhood and have seen an abandoned home, condo or townhome, fill out the form below and I’ll do the rest.
I’m Connor with HONOR and I’m glad to be of service. Please share this with those you know who will find it helpful – talk soon!