The Final Recap is in, we just crunched the numbers of Foreclosures – The Actual Bank Owned type for the Cities that compose the Santa Clarita Valley – The Final Talley – 90. Ninety homes, that were Bank Owned Foreclosures sold July of 2011. Keep in the know for our Foreclosure Updates.
How did that compare with 2012? 66 closed escrow last month. The Same parameters were used in the preparation of this Foreclosure Data.
The reasons for the reduction in the “actual” bank owned inventory is two fold. There are some that are “ghost” listings, the agents are not placing them in the correct category – on purpose. The banks attempt to demand this because they know that when a property is listed as a “Foreclosure” – they don’t get as much money.
The Major Banks are also controlling the “release” of the foreclosures so as not to flood the market. Further driving down prices. In Valencia CA – We see a result of lacking inventory. Prices have been steadily increasing since September 2011. – Have a Read on The Santa Clarita real estate update pages to see more about this trend.
Parameters: Cities – Castaic, Acton, Agua Dulce, Canyon Country, Saugus, Santa Clarita, Newhall, Valencia and Stevenson Ranch
Sale Type: Foreclosures – Bank Owned
Date Ranges: July 1, 2011 to July 31, 2011 / July 1, 2012 to July 31, 2012
The System that I used was the Local Boards of Realtors system, which we have full access too.
There you have both of the data points. We have also included a Foreclosure Search engine like nothing else you have seen – Have a look at the Data and Let us know how we can help you.