They may not be being released, but there is activity. Each day(almost) I post a Foreclosure Update for just the Cities that compose the Santa Clarita Valley.
With the foreclosure, auction and pre-foreclosure activity from the banks and “asset owners”, I am constantly wondering where the inventory is. There is a lot of trading behind closed doors with regard to the banks and their bulk sales. Are all of those properties being sold at “bulk” being turned into rentals? My experience leads me to believe that is very doubtful.
“Hey, a “Bank of America” rental over here…..”
Rentals in our Santa Clarita Valley are able to demand higher rents and fee’s due to the amount of “short sale sellers” that need places to live while their credit is repaired. If there were a Bunch of Rentals – this would not be the case.
So, where is the ghost or shadow inventory? When are we going to see a Release for the Real Estate buyers of the world? September 17 is my youngest son’s birthday, I would hope by then 🙂
If you drive around your neighborhood and see a home that has been abandoned, call your local law enforcement officials and let them know too. My Reasoning is simple, with the PD, we had a “special locations” file – and during our “extra patrol” we would hit locations like those on the “abandoned” list. An ounce of prevention is worth a pound of cure in most cases…
Resources for Foreclosures – Besides the new Foreclosure Activity for the Santa Clarita I referenced and linked to above:
- Search the Foreclosures in the Santa Clarita Valley
- Check on the pre-foreclosure and notice of default activity by So. California Zip Codes
- If you want to see how tough Chuck Norris really is
BE Safe!!! Below are the 7 most recent Foreclosures to Hit the Market in the Santa Clarita Valley. This list will always refresh and update to reflect the 7 newest additions…
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