It should come to no surprise that without inventory being placed onto the market, prices will go up as long as interest rates are low.
We have those low interest rates, coupled with the lacking inventory, we have a Sellers market.
Excluding the foreclosures and REO’s, that have not been hitting the market, due to being sold at bulk sale to “big money” investors- is responsible for some of the “rising price” trends we are seeing.
If you look at short sales from our point of view – you will see that they have extended the Debt Forgiveness act until December 31, 2013.
Notice of Defaults are still being filed – see for yourself – head to our Santa Clarita real estate website and type into the MaCBoX the initials NOD.