Watching the Santa Clarita real estate inventory can be quite depressing from a Buyer’s standpoint. However, for our current sellers, they are able to demand more $$$ than they have been able to in the preceding months.
We would always hope that both factions would be able to get what they want at all times in any real estate market. Sellers being able to get more money for their homes and Buyers being able to buy for the least amount possible. Unfortunately, that is not realistic.
In the coming months we are going to have more inventory being released. There are several factors that attribute to this. The GSE’s have talked about selling their foreclosure (reo) inventory at bulk sales more often. You can see examples of the Auction Market increasing in amount and frequency. The 5 year ARM’s(adjustable rate mortgages) are turning – requiring Equity to conduct a re-finance. The banks have promised principal reductions, but they also promised loan modifications – both seem to be a “fail” at the present time. We are also watching as the Debt forgiveness act is coming to an end, unless renewed. That is sending Short Sale clients our way in Droves!!! – all of these items equate to more future real estate inventory.
I just completed a quick video below that covers this and I used our Santa Clarita foreclosure radar resource which you can use by going to The Top Real Estate Website for Santa Clarita and punching in “Foreclosure Radar” into the MacBoX.