Good Day everyone, I’m Connor MacIvor with REMAX of Santa Clarita‘s Paris911 Team of Realtors.
Who we are – just in case you don’t know 🙂
Paris911 – Paris is for a person, not that person and not a place – but one of the team leaders of our RE/MAX Realty Team.
The “911”, that would be me after serving and protecting the people in Los Angeles for so many years, earning myself a Honorary Retirement – Proud to have served – 17 years full time – quit – then signed up to be a reserve for an additional 5 years…
Foreclosure and Hump Day REO Update
Today is our Foreclosure update and REO real estate radio show. We are going to get into the numbers as they relate to the distressed homes, condos and townhomes.
Some of what we are going to cover is not on the market for sale as of yet. Some are. Some of the homes are bank owned with no “end date” or “final disposition” on the chart. Others have final dispositions and will be heading to the “resale” or “auction” market in the next few days.
We covered the “off market” distressed inventory and those 167 homes, condos and townhomes that are currently for sale or currently wanting back up offers, of the short sale variety.
Santa Clarita Cities
As you can see we have 289 properties that are in some type of distress throughout the Santa Clarita Cities.
These include Castaic, Canyon Country, Newhall, Saugus, Valencia, Acton and Agua Dulce.
117 of these homes are of the pre foreclosure type in Santa Clarita Valley. That means that there has been a “real and actual” notice of default filing on these homes. The bank is telling the court they have not received the “agreed upon” payment from the person they lent the “mortgage money” to in the first place or the one who’s paper they bought at a later date.
Some of those homes will be saved. Some won’t. Some of those pre foreclosures will be approached by me and I will let the homeowner how I am able to help them by Short Selling their home.
Some of our real estate buyers will benefit from my efforts too.
74 of these homes are headed to the auction block. Auctions are held in one of two places – Either Norwalk or Pomona. They are cash deals. You will need to take a cashiers check with you and that is your Max Bid Amount.
Going to the auction is not something you should take lightly. You have to be teamed up with a professional and to make sure they have completed their due diligence on the home you are about to bid on. What is there are due property taxes on the home – they are your responsibility after you buy it at the auction. What if there are people living on the home you just bought at auction – they may have to be evicted. What if you ran into the “pacific heights” scenario with those living in the home after you bought it at the auction?
There are so many things to think about when buying real estate at the auction – a lot of preparatory work and a lot of due diligence by all involved in the process.
81 of these Santa Clarita homes are bank owned. When we are working with our real estate buyers, we monitor this channel for each of them individually. If there is something that can be purchased from the bank, we make that an option and let our clients know. That is why this is so very important to include for those who are looking to purchase real estate. Just by today’s numbers – 198 homes are up for grabs that are not on the “typical residential re-sale market” which is the local Multiple Listing Service.
First Steps in Foreclosure and Distressed Procurement
We will need to meet. My office, at a pre scheduled time. When we do I will walk you through our buyer representation process and give you the insight that I have gleaned from representing buyers and sellers since 1998.
You and I will develop your very own real estate game plan at that time.
Thanks for taking the time to read up on our Wednesday REO and Hump Day Foreclosure Broadcast.
We look forward to doing business with you soon.